─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Maida Vale London

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplified UK financial reporting framework available to companies that qualify as micro-entities and choose to use it. For directors in Maida Vale London running a smaller limited company, that choice can make the year-end process noticeably more straightforward, because FRS 105 accounts use a simpler, historical cost based approach with a reduced set of disclosures compared with fuller UK GAAP frameworks. That said, eligibility is not automatic and the regime is not the right answer for every company. Qualifying depends on the size conditions that apply to your accounting period, along with a number of rules and exclusions, and once a regime is chosen it needs to be applied consistently and reflected properly in your financial statements. Professional preparation of FRS 105 Micro Entity Accounts helps you approach the year end with a clear plan: we review your records, confirm how the micro-entities regime applies to your circumstances, prepare financial statements that reflect your position accurately, and talk you through the filing side so you understand what goes where and why. If you are unsure whether FRS 105 is available or suitable for your company, the sensible first step is a straightforward conversation about your figures, your structure and your reporting period.

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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 Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook used to prepare the annual financial statements of a small company that qualifies for the micro-entities regime and decides to apply it. Where other frameworks allow or require more options — such as revaluing assets, recognising certain fair value gains, or providing far more detailed notes — FRS 105 keeps things deliberately simple. Assets and liabilities are generally measured on a straightforward historical cost basis, the notes to the accounts are limited, and the overall presentation is shorter and easier to follow. The key point for directors is that the micro-entities regime is an available accounting regime, not an automatic one. A company must meet the relevant size conditions for the period, and there are additional rules and exclusions that can affect who is eligible. Even where a company does qualify, applying FRS 105 is a choice — a qualifying company may instead prepare accounts under another framework such as FRS 102. FRS 105 applies when the micro-entities regime is the regime that has been selected for that accounting period. For a growing business in Maida Vale London, understanding that distinction early helps you plan ahead, particularly if your turnover, balance sheet or headcount is moving closer to the limits where the regime may no longer be available.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, a company will generally need to meet at least 2 of the 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 during the period. Those tests are assessed by reference to the company’s own figures and the relevant accounting period, and there is more to eligibility than size alone. Additional rules and exclusions apply, and some companies — including certain entity types and members of particular groups — cannot use the regime regardless of how their figures look. That means meeting the size thresholds does not automatically guarantee eligibility, and a company that does qualify still has a choice about whether to apply the regime or prepare accounts under another framework. If you are a director in Maida Vale London wondering whether FRS 105 Micro Entity Accounts are the right route for your company, the practical approach is to have your structure, group position and current-year figures reviewed against the applicable rules before the year end, so there are no surprises when the accounts are prepared.

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

Preparing FRS 105 Micro Entity Accounts is about more than filling in a template. The figures have to come from your underlying financial records, be measured and presented in line with the micro-entities regime, and tell a story that is consistent with the rest of your company’s reporting. We work from the information you provide — bookkeeping records, bank and payment processor statements, sales and purchase documentation, payroll data, asset purchases, loan and hire purchase agreements, stock or work in progress details, and your previous period’s accounts where relevant — and use those records to build a set of financial statements appropriate to your company’s circumstances. Alongside the accounts themselves, we can explain how the different obligations fit together. Your financial statements are prepared under the applicable reporting framework and, where required, filed at Companies House; your Corporation Tax position is dealt with through a separate CT600 return submitted to HMRC; and your Confirmation Statement is a further, distinct Companies House filing that keeps the public register up to date. These are separate requirements with separate deadlines, and understanding the difference matters. What we can do is prepare your FRS 105 Micro Entity Accounts carefully, keep your records and reporting aligned, and flag the points that need your attention as a director. No accountant can guarantee a particular filing outcome, and any filing remains subject to the relevant authority’s own checks, but accurate records and careful preparation put you in the strongest possible position.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Maida Vale London

If you run a smaller limited company and want to know whether FRS 105 Micro Entity Accounts are the right fit, or you simply want the year-end prepared properly and explained clearly, we are here to help. A short conversation is usually enough to get started: tell us a little about your company, your accounting period and how your records are kept, and share the figures we need to assess your circumstances. From there we can talk through the micro-entities regime, how it applies to you, and the role of your financial statements, your Companies House filings and your separate Corporation Tax obligations. Whether you are preparing accounts for the first time, moving across from another framework, or looking for a more straightforward year-end process, we will set out the options in plain English — with clear, transparent pricing and fixed-fee options where they suit your needs. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and find out what the next step looks like for your business.

─── 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 that applies to companies using the micro-entities regime. It sets out how a qualifying micro-entity measures and presents items in its annual financial statements. Compared with broader UK GAAP frameworks, FRS 105 is deliberately pared back: it works on a largely historical cost basis, offers very few accounting policy options, and requires only limited disclosures. The result is a shorter, simpler set of accounts that still has to be prepared accurately and consistently from your underlying records.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualification is based on the applicable size conditions for your accounting period, and it is subject to further rules and exclusions — certain company types, and companies within particular groups, may not be eligible even if they look small on paper. Because eligibility depends on your specific circumstances, it is worth checking your position rather than assuming the regime is available to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it, and FRS 105 then applies because that regime has been selected. Equally, a qualifying company may decide to prepare its accounts under a different framework, such as FRS 102. The choice is normally made for each accounting period and should be applied consistently, so it is worth thinking about the longer term rather than just the year in front of you.

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 the 3 applicable size conditions to fall within the micro-entities regime: 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 during the period. Meeting the size tests is not the whole story, however — other eligibility rules and exclusions can apply, and the conditions must be assessed against the correct accounting period. We can review your figures against the current criteria.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are designed for different sizes and needs. FRS 105 is the micro-entities standard: simplified measurement, very few policy choices and limited disclosure. FRS 102 is the broader standard for larger small companies and other entities, with more recognition and measurement options, more required disclosures and a longer set of financial statements. In practice, the framework you use affects how your accounts look and how much work sits behind them, so the decision should reflect your size, structure and plans.

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

Yes — for most companies, the annual accounts must be filed at Companies House, and where the micro-entities regime has been applied, the accounts are filed in the format permitted for micro-entity companies. Filing the accounts is a separate exercise from working out and reporting your Corporation Tax position, and it is also separate from your Confirmation Statement, which updates the public register rather than reporting your financial results. Getting the accounts prepared and approved correctly is the first step; handling the filing is a distinct task that follows on from it.

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

Yes, they are two different things. Your FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, and they are filed at Companies House. A CT600 is the Corporation Tax return submitted to HMRC, and it deals with your company's tax position for the period. The figures in your accounts normally feed into the tax computation, which is why it pays to prepare them together and make sure the two are consistent — but the documents themselves, and the bodies they go to, are distinct.

What information is needed to prepare FRS 105 Micro Entity Accounts?

We generally need a clear picture of your company's transactions and balances for the period. That usually means bookkeeping or accounting records, bank and payment platform statements, sales and purchase documentation, payroll information, details of any assets bought or sold, loan, lease or hire purchase agreements, stock or work in progress figures where relevant, and your previous period's accounts if you have them. If records are incomplete or maintained in different places, tell us early — part of our job is helping you work out what is missing and how best to pull it together.