─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in New Malden

FRS 105 Micro Entity Accounts in New Malden are prepared under the UK financial reporting framework designed for companies that qualify for, and choose to apply, the micro-entities regime. Under FRS 105, a qualifying micro-entity can prepare simplified financial statements with a much shorter set of disclosure requirements, which keeps the accounts focused on the information that actually matters to a small company. Professional preparation helps ensure those accounts are put together appropriately for your circumstances — reflecting your real trading activity, assets and liabilities, and the accounting policies that suit your business — rather than being produced from a generic template. We work with directors in New Malden and the surrounding areas to turn their records into clear FRS 105 financial statements and to explain what the figures mean before anything is finalised. Eligibility is not automatic, so part of the process is confirming whether the micro-entities regime is available to your company for the period concerned and whether it is the most sensible choice compared with other accounting frameworks.

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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 accounting standard that sits behind the micro-entities regime. In simple terms, it is a pared-back set of rules for the smallest companies, allowing them to prepare financial statements on a largely historic cost basis with far fewer notes than a larger company would need to include. A company does not become a micro-entity automatically: it has to meet the applicable size conditions, fall outside any relevant exclusions, and then choose whether to apply the micro-entities regime. Where that choice is made, FRS 105 is the framework used to prepare the accounts, which typically include a balance sheet, a profit and loss account and a small number of supporting notes. For directors in New Malden running a small limited company, that can mean a reporting process that is quicker to prepare and easier to read, while still giving a faithful picture of the company’s financial position. Because the regime is optional rather than compulsory, it is worth understanding what FRS 105 does and does not allow before deciding whether it is right for your company.

Who Can Use FRS 105 in the UK? Eligibility for the Micro-Entities Regime in New Malden

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 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. Those figures give a useful starting point, but they are not the whole story. Other eligibility rules and exclusions can apply, which means a company that happens to fall within the size limits is not automatically entitled to use the regime, and a company that qualifies is not obliged to. Directors in New Malden considering FRS 105 Micro Entity Accounts should therefore look at their own circumstances — including the nature of the business, any group relationships and the type of entity involved — before deciding. Choosing the micro-entities regime is a positive decision, and it is one that should be made with a clear understanding of both the simplified reporting it brings and the limits that come with it.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means starting from accurate records and applying the framework consistently throughout. We build the financial statements from your bookkeeping, bank records, invoices, payroll information and other supporting documents, then present a balance sheet, profit and loss account and notes in line with the micro-entities regime. It is important to keep three things distinct: the FRS 105 accounts themselves, the Companies House filing of those accounts as your statutory financial statements, and your Corporation Tax obligations, which are dealt with separately through a CT600 submitted to HMRC. Each serves a different purpose, and the figures may need different treatment for accounting and for tax. Our role is to prepare and explain your FRS 105 accounts so the numbers are clearly supported and the disclosures reflect your company’s circumstances, and to help you understand what is being filed and why. We do not suggest that any filing is guaranteed to be accepted, and we do not claim approval, endorsement or regulatory sign-off from any authority.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in New Malden

If your company may qualify for the micro-entities regime, or you already prepare FRS 105 accounts and would like them handled more smoothly, we would be glad to help. Tell us a little about your business — your accounting period, your approximate turnover, your balance sheet position and your average number of employees, plus how your records are currently kept — and we can talk through whether FRS 105 Micro Entity Accounts look like a sensible route for you. There is no obligation, and no assumption that the micro-entities regime will suit every company; we will simply look at your circumstances, explain the options clearly, and answer your questions before you decide anything. Clear, transparent pricing and a straightforward conversation are what you can expect when you get in touch.

─── 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 is deliberately simplified: accounts are prepared on a largely historic cost basis, with a much shorter set of notes than a larger company would include. The result is a balance sheet, a profit and loss account and limited supporting disclosures that give a clear, honest picture of a very small company's position without unnecessary complexity.

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. 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not guarantee that the regime is available to a particular company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than a mandatory one. A company that qualifies can choose whether to apply it, and if it does, FRS 105 is the standard used to prepare the accounts. A qualifying company that prefers more detailed reporting may instead prepare accounts under another framework, such as FRS 102 including Section 1A for small entities. The right choice depends on the company's circumstances and what the directors need from the accounts.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simplified framework for qualifying micro-entities, built around historic cost with minimal disclosure. FRS 102 is the broader UK standard, and its small-entities section (Section 1A) still allows a range of accounting options and requires more notes. In practice, FRS 105 produces shorter, simpler financial statements, while FRS 102 can give a more detailed view and may be preferred where the company has more complex arrangements or wants to present additional information.

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

Where a company is required to file annual accounts, the FRS 105 financial statements are those statutory accounts and are filed with Companies House as part of the company's normal filing obligations. Filing the accounts is a separate step from preparing them, and both are separate again from Corporation Tax, which is dealt with through a CT600 submitted to HMRC. We can help you understand which documents go where so nothing is overlooked.

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

Yes, they are separate things. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and filed with Companies House. A CT600 is the Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. The starting point for the tax computation is usually the accounts, but adjustments are often needed, so the two documents can legitimately show different figures for the same period.

Can a new limited company use FRS 105?

It may be able to, but not automatically. A newly incorporated company can potentially apply the micro-entities regime in its first accounting period if it meets the applicable size conditions and does not fall within any relevant exclusion, and if the directors choose to use it. First-period accounts can raise their own questions, for example around the length of the period and how transactions are recorded, so it is worth discussing your situation before assuming FRS 105 is the right fit.

What information is needed to prepare FRS 105 accounts?

We normally need your bank statements and records of all business transactions, sales and purchase invoices, expense receipts, payroll details, details of any equipment or other assets bought or sold, information about stock or work in progress where relevant, and any loan or finance agreements. Details of the accounting period, plus any previous accounts or tax returns, also help. Good records make the preparation of FRS 105 Micro Entity Accounts quicker and reduce the number of queries raised along the way.

What changes are coming to micro-entity accounts filing?

Company filing requirements are evolving, with a move towards filing accounts in a structured digital format through commercial software rather than as plain documents, along with a broader expectation that more information is supplied at the point of filing. Because the practical detail and timing of these changes can develop, we keep the process under review and will talk you through what it means for your company when your accounts are due. If you have specific concerns about how your FRS 105 accounts will be submitted, it is worth raising them early.