─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Mayfield

FRS 105 Micro Entity Accounts in Mayfield are prepared under the financial reporting framework that applies when a qualifying company chooses to use the UK micro-entities regime. FRS 105 sets out how those accounts are put together, and it is deliberately streamlined: fewer notes, a simpler measurement basis and a format built for smaller businesses. It is not a default position, and not every small company qualifies, so the regime is a choice rather than an automatic entitlement. Professional preparation helps you apply the framework consistently to your own circumstances — from the figures taken from your records through to the disclosures that support them — so the accounts genuinely reflect what the company has done during the accounting 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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK accounting standard written specifically for micro-entities. Where a company qualifies for the micro-entities regime and decides to apply it, FRS 105 is the framework used to prepare its statutory financial statements. In practice that means a short, clearly presented set of accounts built on a straightforward historical cost approach, with a much lighter set of notes and disclosures than you would see under other accounting standards. There are trade-offs, because the simplicity comes with restrictions on certain accounting options. The regime is optional: a qualifying company can choose it, and can also use a small-company framework instead, so the decision is worth revisiting as turnover, balance sheet total and employee numbers change from year to year.

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. 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: 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. Earlier periods were measured against lower thresholds. Meeting those size tests on its own does not guarantee eligibility, because the rules also exclude certain types of company and other conditions can apply. The regime is optional, so a qualifying company can decide to use FRS 105 or prepare its accounts under a small-company framework instead. Because turnover, balance sheet total and headcount move, eligibility is worth checking for each period before the framework is applied.

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 Micro Entity Accounts

Preparing FRS 105 Micro Entity Accounts is a case of building the financial statements from the company’s underlying records and presenting them in line with the applicable reporting requirements. We work from the bookkeeping, bank information, invoices, payroll details and asset records you provide, then produce a balance sheet, the required notes and the supporting figures in the format used for micro-entity accounts. Filing the accounts with Companies House is a separate step from meeting your Corporation Tax obligations, which are dealt with through a CT600 submitted to HMRC. Because each company’s position differs, the accounts are prepared around your circumstances rather than a template, and you remain responsible for reviewing and approving what is filed.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Mayfield

If you would like your FRS 105 Micro Entity Accounts handled by someone who works with the micro-entities regime regularly, get in touch and tell us about your company. It helps to know your accounting period, what you do, how your records are kept, whether you are filing for the first time or continuing from a previous year, and whether you also need support with your Corporation Tax Return or Confirmation Statement. From there we can look at your circumstances and explain how we would approach the work, along with our clear, transparent pricing.

─── 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 financial reporting standard that applies to micro-entity accounts in the UK. It is used when a company qualifies for the micro-entities regime and chooses to apply it when preparing its statutory financial statements. The standard is intentionally short and simplified: it follows a historical cost basis, permits only a limited set of accounting treatments, and requires far fewer notes than FRS 102. The aim is to give smaller companies a proportionate way to report their position, while still producing accounts that give a true and fair view of the company's affairs.

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 for it can choose to apply FRS 105, but it can also prepare its accounts under a small-company framework instead. Some companies prefer the additional accounting options and disclosures available elsewhere, for example where they want to revalue assets or where lenders or investors expect a different level of detail. Because eligibility and circumstances change over time, many businesses review the choice each year rather than assuming last year's decision still fits.

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: 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. Earlier accounting periods were assessed against lower thresholds, so it is worth checking which rules apply to the period you are reporting on. Meeting the size tests is not the whole story, as certain types of company are excluded from the regime and other eligibility rules can apply, so the position should be confirmed before the framework is applied.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the standard for micro-entities and is deliberately minimal. FRS 102 is a broader framework, and Section 1A of it covers small companies that are not micro-entities. FRS 105 restricts the accounting options available — for example, it works on a historical cost basis and does not offer the same flexibility over valuations and certain financial items — and it requires fewer disclosures. FRS 102 Section 1A allows more choice and asks for more supporting notes. Which one is appropriate depends on whether the company qualifies for the micro-entities regime and which framework it chooses to apply.

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

Yes. A company's statutory accounts, including accounts prepared under FRS 105, generally have to be filed with Companies House for the relevant accounting period, within the filing deadline that applies to the company's accounting reference date. The accounts are also shared with the company's members and used for other purposes, such as supporting the figures reported for Corporation Tax. Filing the accounts and filing a Corporation Tax Return are two separate obligations with different recipients and different rules, and one does not replace the other.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities accounting framework and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which calculates the tax the company owes. The two are related because the accounts usually provide the starting point for the tax figures, but they are prepared for different audiences and can differ in how certain items are treated. Depending on the circumstances, a copy of the accounts may also need to accompany the return.

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

It helps to have a complete set of records for the accounting period: bookkeeping or accounting software reports, bank and credit card statements, sales invoices and purchase receipts, payroll information, details of any equipment or other assets bought or sold, stock or work in progress figures, loan and director's loan account movements, and any previous year's accounts. If the company is newly incorporated, we will also need the incorporation details and the accounting reference date. The clearer your records, the more straightforward the preparation, and if anything is missing we can talk through what to do next.

What changes are coming to micro-entity accounts filing?

Companies House filing requirements have been under reform, with a move towards accounts being filed using software in a structured digital format rather than as a simple attachment. There has also been discussion of removing the current exemption that allows micro-entities and small companies not to file a profit and loss account, which would mean more information appearing on the public record. The timetable for these changes has been subject to confirmation, so the sensible approach is to check the current Companies House guidance for your filing period and plan ahead rather than rely on how filings worked in previous years.