─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Paddock Wood

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplest financial reporting framework available to UK companies that qualify for it and choose to apply it. FRS 105 strips reporting back to the essentials, which is why it suits many small, owner-managed businesses in Paddock Wood and the surrounding Kent area. Qualification is not automatic, though: it depends on the company meeting the relevant size conditions and not falling foul of any of the exclusions that apply to the regime. Professional preparation helps you work through that assessment properly, then build the accounts from your actual bookkeeping and financial records so the figures, disclosures and presentation line up with the framework and with your company’s particular circumstances. If you are unsure whether FRS 105 Micro Entity Accounts are the right route for your company, the sensible starting point is a conversation about your turnover, balance sheet and structure before any accounts are drafted.

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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 written specifically for micro-entities. It sits under the wider micro-entities regime, which is a set of simplified accounting rules that qualifying small companies can choose to adopt when preparing their annual financial statements. Put simply, if your company qualifies for the micro-entities regime and you decide to use it, FRS 105 is the standard you prepare your accounts under. The appeal is straightforward: fewer disclosure requirements, a simpler balance sheet and profit and loss format, and far less narrative than you would find under a fuller reporting framework such as FRS 102. That keeps the accounts quicker and cheaper to produce, but it does come with trade-offs — the information available to lenders, investors or anyone else reading the figures is more limited, and some companies find that a fuller framework better reflects the way they operate or the way they are viewed by third parties. For many micro-companies in Paddock Wood, FRS 105 Micro Entity Accounts strike the right balance between meeting filing obligations and keeping the reporting burden proportionate.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and actively choose to apply it. It is not the default for every small business, and it is not something a company simply drifts into — both qualification and election matter. On the size side, 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 size tests is a starting point rather than a conclusion. Other eligibility rules and exclusions can apply, and certain companies are not able to use the regime at all, so satisfying the numerical thresholds does not automatically mean the micro-entities regime is open to you. Companies in Paddock Wood considering FRS 105 Micro Entity Accounts should have their position reviewed against the current rules before the framework is adopted, and should revisit that review if turnover, headcount or the structure of the business changes.

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 starts with your records — bank transactions, sales and purchase invoices, payroll information, asset purchases and any loans or director balances — and turns them into a structured set of financial statements in the format the framework requires. The work typically covers the profit and loss account, the balance sheet, and the notes that FRS 105 calls for, together with the supporting working papers that explain how each figure was arrived at. It is worth separating out the different obligations that sit around your year end: preparing the financial statements is one task, filing those accounts with Companies House is another, and Corporation Tax is a separate matter entirely. A CT600 is submitted to HMRC, not Companies House, and it is not the same document as your statutory accounts, even though the two are closely related. We prepare FRS 105 Micro Entity Accounts for companies in Paddock Wood based on the information and records provided, working to the applicable reporting requirements and explaining the judgements and assumptions behind the figures so you understand what has been filed and why.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Paddock Wood

If your year end is approaching, or you simply want to know whether the micro-entities regime is the right fit for your company, we are happy to talk it through. Tell us a little about your business — your approximate turnover, what sits on the balance sheet, how many people you employ and what you need from the accounts — and we can assess your circumstances and explain the options open to you, including whether FRS 105 Micro Entity Accounts are likely to be suitable. Bring your bookkeeping records, previous year’s accounts if you have them, and any relevant details about loans, assets or changing circumstances, and we will set out clearly what is involved, what we need from you and how the process works. Clear, transparent pricing and a straightforward explanation of each step, with no jargon and no assumptions about your situation.

─── 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 micro-entities. It sets out the recognition, measurement and disclosure requirements for companies that qualify for the micro-entities regime and choose to use it. In practice it is the most simplified reporting framework available in the UK, with a short balance sheet and profit and loss format and far fewer disclosures than fuller standards such as FRS 102. FRS 105 Micro Entity Accounts therefore tend to be shorter, faster to prepare and lower in cost than accounts prepared under a fuller framework.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and decide to apply it. Qualification depends on meeting the relevant size conditions and on not being caught by any of the exclusions that apply to the regime, so it is not a case of every small company being automatically eligible. Companies in sectors with particular regulatory or reporting expectations may also find the regime unsuitable. The right approach is to test your specific circumstances against the rules rather than assume, which is something we can work through with you.

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 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 are the headline size tests, but they sit alongside other rules and exclusions that can affect whether the regime is available to a particular company. Meeting two of the three conditions does not by itself guarantee eligibility, so the criteria should be applied to your company's own facts and circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies may choose to apply it, or it may decide to prepare its accounts under a fuller standard instead. There are legitimate reasons for choosing a fuller framework — for example where a lender, investor or group parent wants more detailed information than FRS 105 provides. The decision is yours to make, and it is worth reviewing periodically as your business grows or your reporting needs change.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is designed for qualifying micro-entities and applies simplified recognition and measurement rules with minimal disclosure. FRS 102 is a fuller standard used by a much broader range of companies, and it generally requires more detailed notes, more accounting judgements and more disclosure about policies and transactions. FRS 102 accounts therefore give readers a richer picture, while FRS 105 Micro Entity Accounts prioritise simplicity and proportionate reporting.

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

Yes — where a company prepares statutory accounts, those accounts need to be filed with Companies House in line with its filing obligations. Choosing the micro-entities regime changes the content and format of the accounts, not the requirement to file them. It is important to keep the different deadlines and submissions separate in your mind: the statutory accounts filed at Companies House, the Confirmation Statement, and the Corporation Tax Return are distinct filings with distinct requirements, and each needs to be handled in its own right.

Is a Corporation Tax Return (CT600) separate from the FRS 105 Micro Entity Accounts?

Yes, they are entirely separate documents with separate purposes. The FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime, and they are filed with Companies House. The CT600 is a Corporation Tax Return submitted to HMRC, which calculates the company's tax position for the period. The accounts usually form the starting point for the tax computation, but the return itself is a different filing made to a different body, with its own deadlines and its own supporting information.

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

We generally need a complete picture of the company's financial activity for the period: bank statements and reconciliations, sales and purchase records, payroll details, details of any assets bought or sold, and information about loans, director balances and any other liabilities. Previous year's accounts, if they exist, help with comparatives and consistency. If your bookkeeping is not yet up to date, that can usually be sorted as part of the process. The more complete and organised your records are, the smoother the preparation of FRS 105 Micro Entity Accounts tends to be.