─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Newhaven: Professional Preparation for Qualifying Micro-Entities

If your company is based in or around Newhaven and you are considering FRS 105 Micro Entity Accounts, the starting point is eligibility. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to adopt the UK micro-entities regime. It is not automatic: a company must meet the relevant size conditions and any other applicable rules, and it must decide to use the regime. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your financial statements are put together using the appropriate framework, based on the records you provide and the company’s individual circumstances. We can also help you understand how the accounts fit alongside your other filing obligations, such as your Confirmation Statement and any separate Corporation Tax requirements.

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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

FRS 105 Explained: What the Micro-Entities Regime Means for Your Newhaven Company

FRS 105 is a UK accounting standard designed for companies that qualify as micro-entities. In simple terms, it sets out how a qualifying company’s financial statements should be prepared when that company chooses to use the micro-entities regime. The regime is optional: a company that fits the size criteria can decide whether to apply it, and FRS 105 applies to the accounts when that choice is made. FRS 105 accounts are typically shorter and more straightforward than accounts prepared under a larger reporting framework, focusing on the information that micro-entity financial statements need to include. For directors in Newhaven, this can mean a clearer, more proportionate way to report the company’s financial position, provided the company is eligible and the regime suits its circumstances. It is separate from filing a Corporation Tax Return (CT600) with HMRC or a Confirmation Statement with Companies House, although those obligations may still apply.

Who Can Use FRS 105 in the UK? A Guide for Newhaven Companies

FRS 105 is intended for 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 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. However, other eligibility rules and exclusions can apply, so meeting these size conditions alone does not guarantee that FRS 105 is available or appropriate. Directors of companies in Newhaven should consider the full picture, including the company’s structure, activities, and any relevant legal requirements, before deciding whether to use the micro-entities regime and prepare FRS 105 Micro Entity Accounts.

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 in Newhaven for Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your company’s financial records, such as bookkeeping, invoices, bank statements, and other supporting information, and applies the relevant reporting requirements for micro-entity financial statements. Professional preparation focuses on presenting those records accurately within the FRS 105 framework, so the accounts reflect the company’s circumstances as clearly as possible. This work covers the preparation of the financial statements themselves. Filing those accounts with Companies House is a separate step, and it is distinct from your Corporation Tax obligations, including any CT600 that must be submitted to HMRC. We can help coordinate these areas so you understand what is being prepared and what still needs to be filed, but no accounting framework or filing can guarantee a particular outcome, and responsibility for filing remains with the company and its directors.

ICAEW

ACCA

AAT

Need Help With Your FRS 105 Micro Entity Accounts in Newhaven?

If you would like help with FRS 105 Micro Entity Accounts in Newhaven, get in touch to discuss your company’s position. We will ask about your accounting period, your financial records, and the information needed to assess whether the micro-entities regime may be appropriate for your circumstances. From there, we can explain what is involved in preparing your FRS 105 accounts and how that fits alongside your other filing responsibilities. Clear, transparent pricing and a straightforward process are part of how we work, so you know what to expect before any 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 for companies that qualify as micro-entities and choose to apply the micro-entities regime. It sets out how their financial statements should be prepared, with a simpler and more proportionate approach than the frameworks used by larger companies. FRS 105 Micro Entity Accounts are therefore the accounts produced under that standard.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to use it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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 apply, so meeting the size conditions alone does not automatically mean the company can or should use FRS 105.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a mandatory one. A company that qualifies can choose whether to apply it. FRS 105 applies when that regime is chosen. Some companies may prefer or need to use a different framework, depending on their circumstances and any applicable rules.

What is the difference between FRS 105 and FRS 102?

FRS 105 is designed specifically for qualifying micro-entities and is more streamlined. FRS 102 is a broader UK accounting standard used by many small and medium-sized companies. FRS 105 accounts generally involve simpler measurement and disclosure requirements, while FRS 102 may require more detailed accounting treatments and disclosures. The right framework depends on eligibility and the company's circumstances.

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

Yes, where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts normally need to be filed with Companies House, subject to the normal filing requirements and deadlines. Filing accounts with Companies House is separate from filing a Corporation Tax Return (CT600) with HMRC, even though both may relate to the same accounting period.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC. The accounts may provide information that supports the tax return, but they are separate documents with separate purposes and filing routes. The company still needs to consider its Corporation Tax obligations independently.

Can a new limited company use FRS 105?

A new limited company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Eligibility depends on the size conditions and any other relevant rules, and a first accounting period can have its own considerations. It is worth reviewing the position before preparing the first set of accounts, as using FRS 105 is not automatic simply because the company is new or small.

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

To prepare FRS 105 Micro Entity Accounts, we typically need the company's financial records for the accounting period, such as bookkeeping records, bank statements, invoices, receipts, payroll information if relevant, and details of assets and liabilities. Information about any transactions with directors or related parties may also be needed. The exact requirements depend on the company's circumstances and the records it maintains in Newhaven.