─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lymington

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. If your company meets the relevant eligibility conditions, FRS 105 allows you to prepare simpler, more streamlined financial statements than the larger reporting frameworks require, while still presenting a true and fair view of your position in the way the standard intends. For directors in Lymington running a small limited company, this can mean less complexity, clearer reporting, and accounts that reflect the reality of a straightforward business. Professional preparation helps ensure the accounts are put together appropriately for your company’s own circumstances, that the figures agree with your underlying records, and that the chosen framework is the right fit rather than an assumption. It also helps you separate the accounts themselves from the other filings a company may need to make, so nothing is overlooked.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
   Based on 300 reviews 
    
 
 
 
   
 
 
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   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
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   Mansur Liman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
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   Muna Mohamoud 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail. Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable. I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
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   Sergey M 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
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   Ebba Qureshi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
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   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: The Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook a qualifying company follows when it chooses the micro-entities regime to prepare its annual financial statements. It sits alongside the UK’s company reporting framework: FRS 102 is the main standard used by most small companies, while FRS 105 is a simplified alternative available to those that fit the micro-entity definition and decide to use it. Choosing the micro-entities regime is a decision, not an automatic outcome. A company can qualify by size and still opt to report under a different framework, and conversely, meeting a size test alone does not guarantee that every other eligibility rule is satisfied. FRS 105 financial statements are intentionally shorter and less detailed than full accounts, which suits owner-managed companies with uncomplicated affairs. The trade-off is that the reporting is more prescribed and less flexible, so it matters that the figures are prepared correctly from the outset. If you are unsure whether FRS 105 Micro Entity Accounts are right for your company, a conversation about your circumstances is usually the quickest way to get clarity.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it when preparing their annual accounts. Eligibility is measured against size conditions. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. These are the headline tests, but they are not the whole story. The regime also carries its own rules and exclusions, and some types of company are not permitted to use it regardless of how small they are. There are also rules about applying the conditions consistently from one period to the next. Because of that, meeting the size thresholds does not automatically guarantee eligibility, and qualifying does not oblige a company to use the regime — it remains a choice. For a Lymington company weighing up whether FRS 105 Micro Entity Accounts are appropriate, the sensible approach is to review the specific facts, including the company’s structure, ownership, and any special circumstances, before deciding.

A company generally needs to meet at least 2 of these 3 conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

We keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Accounts Support

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Clear, Transparent Pricing

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professionally Prepared FRS 105 Accounts and Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts start with your financial records — bookkeeping, bank transactions, sales and purchase information, asset details, and any loans or director balances. From that information, the financial statements are built to reflect your company’s position and performance under the micro-entities regime, using the formats and disclosures that FRS 105 requires. Good preparation also means knowing what does not belong in the accounts, so that items are treated consistently and the figures can be followed back to source documents. It is important to keep two things distinct. The preparation and filing of your accounts with Companies House is one exercise; your Corporation Tax position, which is reported separately to HMRC through a Company Tax Return (CT600), is another. The accounts may inform the tax return, but they are not the same document, and neither replaces a Confirmation Statement or any other filing obligation. Working with an accountant means the accounts are prepared carefully and the different deadlines and requirements are handled as separate tasks rather than blurred together.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Lymington

If you would like support with FRS 105 Micro Entity Accounts, the best first step is a conversation about your company. Tell us how the business is structured, what it does, roughly what its turnover, balance sheet position, and headcount look like, and when your accounting period runs. From there, we can consider whether the micro-entities regime appears to suit your circumstances and explain what information we would need to prepare the financial statements. Bring your records, your previous accounts, and any questions you have about Companies House filing or your separate Corporation Tax obligations. You do not need to have everything perfectly organised before getting in touch — part of the value of professional help is working out what is needed together. Reach out to discuss your FRS 105 Micro Entity Accounts requirements and take the next step with confidence.

─── FAQs

FRS 105 Accounts Preparation FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What is FRS 105?

FRS 105 is the UK financial reporting standard for micro-entities. It sets out how a qualifying company that chooses the micro-entities regime prepares its annual financial statements, using a simpler and shorter format than the main small company framework. It deals with the accounting and reporting side of things, not tax filing.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualification is based on size conditions plus a range of other rules and exclusions, so it is not simply a matter of being small. Certain company types are excluded from the regime regardless of their size.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option rather than a requirement. A company that qualifies can choose to use it, but it may instead report under FRS 102 or another framework if that better suits its circumstances — for example, if it needs to present more detail or has more complex arrangements.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting these size conditions is not the whole picture, as other eligibility rules and exclusions can apply to particular companies.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main UK standard for small companies and allows more detailed reporting, more accounting policy choices, and broader disclosure. FRS 105 is a stripped-back framework for micro-entities, with simpler presentation and far less disclosure. The right choice depends on your company's size, structure, and what the people reading the accounts need to see.

Do FRS 105 accounts need to be filed with Companies House?

A company's annual accounts are filed with Companies House, and if those accounts are prepared under FRS 105, they are the accounts submitted. The filing obligation comes from company law rather than from FRS 105 itself. It is worth noting that filing requirements and formats for small and micro-entity accounts have been subject to change, so it is sensible to check the current position for your period.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes, they are separate. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Company Tax Return submitted to HMRC to report corporation tax. The accounts often provide the starting figures for the tax return, but they are different documents with different purposes and different recipients.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping or accounting records, bank statements, details of sales and purchases, information on fixed assets and depreciation, any loans or amounts owed to and from directors, and stock or work in progress figures where relevant. Prior year accounts and correspondence from Companies House or HMRC are also helpful. If records are incomplete, we can work through what is missing together.