─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in New Milton

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for qualifying companies that choose to apply the UK micro-entities regime. If your company is based in or around New Milton and you are weighing up how to present your annual financial statements, FRS 105 can offer a simpler, more streamlined route than the fuller standards available to larger businesses — but only where your company qualifies and the regime is actually chosen. Professional preparation helps you apply the framework consistently to your own circumstances: your trading activity, your asset and liability profile, your accounting records and any transactions that need particular care. It also helps ensure the figures in your FRS 105 financial statements are supported by the underlying records and are presented in the format the micro-entities regime requires. We work through your accounts with you, explain the choices that affect your position, and keep the distinction clear between preparing FRS 105 accounts, filing them at Companies House, and dealing separately with Corporation Tax through a CT600. The aim is straightforward, well-supported financial statements that reflect what your business has actually done.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. In plain terms, it is a simplified accounting framework built for the smallest companies, allowing a shorter set of financial statements and fewer disclosure notes than the standards used by larger businesses. It is not something every small company must use — a company first needs to qualify as a micro-entity, and even then the micro-entities regime is a choice rather than an automatic requirement. FRS 105 applies when a qualifying company decides to use that regime. Under FRS 105, the financial statements are prepared on a simpler basis, with the focus on the balance sheet, a profit and loss account and a limited set of notes. That can make the accounts easier for a director to follow and less costly to prepare, while still producing a set of financial statements that properly reflect the company’s position. For directors in New Milton running a small trading or service company, understanding where FRS 105 fits — and where it does not — is usually the first step in deciding how to approach the year-end. It is also worth remembering that FRS 105 deals with accounting and financial reporting only; it does not replace a Corporation Tax Return, and it is separate from a Confirmation Statement.

Who Can Use FRS 105 in the UK? Companies That Qualify for the Micro-Entities Regime

FRS 105 is designed for UK companies that qualify for the micro-entities regime and then 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. Those conditions give a useful starting point, but they are not the whole picture. Certain types of company are excluded from the micro-entities regime regardless of their size, and there are further rules about how the tests are applied — for example where a company is part of a group, where the period is longer or shorter than a year, or where the company has changed in nature during the period. Meeting the size thresholds on their own does not automatically guarantee eligibility, so the right approach is to check the specific rules and exclusions against your own company’s circumstances. For directors in New Milton, that usually means a short review of the company’s activity, structure and figures before deciding whether FRS 105 Micro Entity Accounts are the appropriate route for the year.

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 need to be built from your company’s bookkeeping and financial records, supported by source documents, and presented using the recognition and measurement approach that the micro-entities regime requires. In practice, that means checking that income and costs have been recorded in the right period, that debtors, creditors and stock are stated sensibly, that any director’s loan account is dealt with properly, and that the resulting balance sheet agrees with the underlying records. It also means preparing the small number of disclosure notes that FRS 105 expects, and presenting the accounts so they can be filed at Companies House in the correct format. We keep reporting obligations clearly separated: FRS 105 accounts cover the financial statements and the Companies House filing, while Corporation Tax is dealt with through a separate CT600 submitted to HMRC, which starts from the same underlying figures but follows its own rules on adjustments, allowances and deadlines. Nothing here is a promise of any particular outcome — we prepare the accounts on the basis of the information you provide and the reporting requirements that apply, and we explain the judgements involved so you can review and approve the accounts as a director.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in New Milton

If you would like help with FRS 105 Micro Entity Accounts for a company in New Milton or the surrounding area, get in touch and tell us about your business. It helps if you can share your latest trial balance or bookkeeping records, the previous year’s accounts if you have them, details of any significant purchases or asset movements, and any information about loans, directors’ loan accounts or unusual transactions during the period. With that in mind, we can look at your circumstances, confirm how the micro-entities regime may apply to your company, and explain the options and the information still needed before any accounts are prepared. We keep our fees clear and transparent, with fixed-fee options where they suit, so you know where you stand before work begins.

─── 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 supports the micro-entities regime. It sets out how a qualifying micro-entity prepares its annual financial statements when it chooses to apply that regime, including the simplified measurement basis and the reduced disclosure requirements compared with the standards used by larger companies. It deals with accounting and reporting only — it is not a tax return and it does not cover other company filings.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not just about size: certain company types are excluded from the regime altogether, and the eligibility rules need to be checked against the company's own situation. Meeting the size tests does not on its own guarantee that the micro-entities regime is available, which is why it is worth reviewing your position rather than assuming it applies.

What are the current micro-entity size criteria?

For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 applicable size conditions for the micro-entities regime, but other rules and exclusions can still affect whether a particular company qualifies, so the criteria should always be considered alongside the company's individual circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework for companies that qualify, not an automatic obligation. A qualifying company can choose to apply the regime, in which case FRS 105 applies, or it may use a fuller framework instead. The choice can affect the level of disclosure in the accounts and the way certain items are measured, so it is worth considering what best suits your company and its readers before the accounts are prepared.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general financial reporting standard for UK companies and applies to a much wider range of businesses, including small companies that do not qualify for the micro-entities regime or that choose not to use it. FRS 105 is narrower and simpler, with a more straightforward measurement basis and far fewer disclosure notes. Which framework is appropriate depends on whether the company qualifies for the micro-entities regime, whether it chooses to apply it, and what the users of the accounts need to see.

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

Yes — where a company prepares FRS 105 accounts, those financial statements are the ones used for its annual accounts filing at Companies House, subject to the filing requirements that apply to that company. Preparing the accounts and filing them are two stages of the same exercise, so it is important that the figures in the accounts match the records and that the filing is made in the required format and within the applicable timeframe for your company.

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

Yes, and they should not be confused. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is a separate Corporation Tax Return submitted to HMRC, which is calculated using its own tax rules and adjustments even though it starts from the same underlying accounting figures. Both matter, and both need to be dealt with for the relevant period.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 in its first period if it qualifies for the micro-entities regime and chooses to apply it. New companies often satisfy the size conditions in their early years, but qualifying depends on the applicable rules and exclusions as well as the company's own activity. Where the first accounting period is longer or shorter than usual, the figures used for the size tests should be considered carefully rather than assumed.

What changes are coming to micro-entity accounts filing?

Companies House filing requirements for small and micro-entity accounts have been the subject of reform in recent years, with the direction of travel being more detail filed digitally and less scope to file abbreviated or filleted information. Because the practical effects depend on the rules in force at the time of your filing and on your company's own position, the sensible approach is to confirm what applies to your period before the accounts are finalised rather than working from older assumptions.