─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Netley Abbey

If your company is based in Netley Abbey and meets the conditions for the UK micro-entities regime, FRS 105 Micro Entity Accounts may be the most straightforward way to prepare and file your annual financial statements. FRS 105 is the financial reporting standard that applies when a qualifying micro-entity chooses to adopt the micro-entities regime, and it is designed around the simpler disclosure and measurement requirements that suit very small companies. Professional preparation can help you apply the framework correctly to your own circumstances — reflecting your actual trading activity, assets, liabilities and records rather than a one-size-fits-all template — and can help you present your figures consistently from one year to the next. It also helps to separate the accounts themselves from your other filing obligations, such as your Corporation Tax Return, 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  
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 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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 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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 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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 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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 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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 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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─── 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. It sits within the UK’s micro-entities regime, which is an available accounting regime rather than an automatic label: a company must qualify for it and then choose to apply it. When the regime is chosen, FRS 105 is the standard used to prepare the company’s financial statements. In practice, FRS 105 accounts are simpler than those produced under larger-company frameworks — they typically include a concise balance sheet, a small number of notes where required, and they focus on the information a micro-entity is obliged to provide. Certain judgements still matter, such as how items are measured, what is recognised in a given period, and which disclosures are appropriate, which is where professional preparation often helps. Understanding FRS 105 in these terms makes it easier to see why it is popular with small, straightforward companies that want tidy, compliant reporting without unnecessary complexity.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and actively choose to apply it. Size is the starting point: 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. Meeting those conditions, however, does not automatically mean the company is eligible. Other rules and exclusions can apply depending on the type of entity and its circumstances, and a company that qualifies may still decide to report under a different framework. For a Netley Abbey company considering FRS 105 Micro Entity Accounts, the sensible approach is to confirm eligibility against the specific rules, then weigh up whether the micro-entities regime genuinely suits the way the business is structured and reported.

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 for Accurate Financial Reporting

FRS 105 Micro Entity Accounts are prepared from your company’s financial records and the reporting requirements that apply to it. That means starting with accurate bookkeeping — sales, purchases, bank transactions, expenses, assets and liabilities — and then building the financial statements in line with the FRS 105 framework where the micro-entities regime is being applied. It is helpful to keep two things distinct: the preparation and filing of your annual accounts with Companies House, and your separate Corporation Tax obligations, which are dealt with through a Company Tax Return (CT600) submitted to HMRC. The two are connected by the same underlying figures, but they are different filings with different purposes. Working with an experienced preparer helps ensure your accounts are based on complete records, that disclosures are appropriate to your company, and that the figures you file are consistent with the information reported elsewhere.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Netley Abbey

Whether you are preparing your first set of micro-entity accounts or want a second pair of eyes on an existing approach, we are ready to help with your FRS 105 Micro Entity Accounts. Get in touch to talk through your company’s circumstances — your trading activity, your accounting period, the records you hold and any changes since last year — so we can establish what is required and what information we need from you. If you can share your bookkeeping, bank statements, invoices and previous accounts, we will be in a much better position to advise on how your FRS 105 Micro Entity Accounts should be prepared and what needs to be filed. Reach out to start the conversation.

─── 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 the recognition, measurement and disclosure requirements for those companies, and it is intentionally simpler and shorter than the standards used by larger businesses. When a qualifying company chooses to apply the micro-entities regime, FRS 105 is the framework used to prepare its financial statements.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not automatic — the company must meet the applicable size conditions and must not be excluded for another reason, such as being a particular type of entity. Because the rules include exclusions and other conditions, it is worth checking your specific position before assuming FRS 105 applies 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 meets the size conditions can choose to apply it, but it may instead report under a different framework such as FRS 102. The choice can affect the level of disclosure and the way certain items are measured, so it is worth considering which framework best suits your company rather than assuming the smallest option is automatically right.

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 following 3 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 the size conditions is not by itself the whole test — other eligibility rules and exclusions can apply, so qualifying for the regime should be confirmed against your company's specific circumstances.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities standard and is deliberately pared back, with fewer disclosures and simpler measurement requirements. FRS 102 is the wider UK and Ireland financial reporting standard used by small, medium and larger entities, and it offers more accounting policy options and requires more disclosure. A company that qualifies for the micro-entities regime may still prefer FRS 102, for example where it wants to present a more detailed set of accounts or needs particular accounting treatments.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

For a limited company, annual accounts are filed with Companies House under the statutory filing requirements that apply to it. Preparing FRS 105 Micro Entity Accounts is about how those accounts are drawn up; filing them is a separate administrative step with its own deadline. It is worth keeping the two clearly in mind so that the accounts are both correctly prepared and filed on time.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, while a CT600 is a Company Tax Return submitted to HMRC to report taxable profits and calculate Corporation Tax. They are different documents with different purposes, even though the accounts usually form the starting point for the tax computation. A Confirmation Statement is a further, separate filing and is not a substitute for either.

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

In most cases the preparer will need your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and purchases, a list of assets and liabilities, payroll or employee information, and the previous year's accounts. It also helps to know about anything unusual during the period, such as a loan, a significant purchase or a change in activity. Complete records make it far easier to prepare accounts that accurately reflect your company's position.