─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Peacehaven

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities who choose to use the UK micro-entities regime. For a Peacehaven-based company, that choice affects how the financial statements are put together, what they include and how the figures are presented, so it is worth getting right from the outset. Professional preparation starts with the company’s own financial records — bookkeeping, bank transactions, invoices, expenses, assets and liabilities — and then applies the recognition and disclosure requirements of FRS 105 to produce a set of accounts suited to that company’s particular circumstances. Eligibility is not automatic: a company must qualify for the micro-entities regime and then decide to apply it, and certain companies and groups are excluded regardless of size. If you are unsure whether FRS 105 is the right basis for your Peacehaven company, the sensible first step is a straightforward review of your turnover, balance sheet total and employee numbers alongside any other relevant rules.

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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 Reporting Framework Behind Micro-Entity Accounts

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that says how a very small company’s financial statements should be prepared — what it needs to recognise, how it measures things such as assets and liabilities, and what it has to disclose in the notes. FRS 105 sits alongside the UK micro-entities regime, which is a simplified accounting regime made available to companies that meet the relevant size criteria. It is important to be clear about how the two fit together: the regime is the option, and FRS 105 is the standard that applies when a qualifying company chooses to use that option. Choosing it usually means shorter, simpler accounts than you would see under a fuller reporting framework, with far fewer notes, but it still requires accurate figures and an understanding of what the standard does and does not permit. For a Peacehaven company weighing up its options, the practical question is whether the micro-entities regime suits how you want to present your results — and that is a conversation best had before the year-end figures are finalised.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it — both parts 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 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. Meeting those conditions is the starting point rather than the finish line. The regime also carries its own rules and exclusions, which can keep certain companies out of scope even where their figures look small — group structures and parent or subsidiary relationships are common examples, and there are other situations where the micro-entities regime is not available. Alongside that, the regime is optional rather than automatic, so a qualifying Peacehaven company can legitimately decide that a fuller reporting framework is better suited to its lenders, investors or internal needs. If you want certainty about where your company stands before your accounts are prepared, a review of your turnover, balance sheet total, employee numbers and ownership structure is the practical way to establish 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 Accounts and Accurate Financial Reporting in Peacehaven

Preparing FRS 105 Micro Entity Accounts properly comes down to two things: good records and a sound understanding of the applicable reporting requirements. We work from your company’s financial information — bookkeeping records, bank statements, sales and purchase documentation, payroll data, asset purchases and any loans or balances outstanding — and build a set of financial statements that reflects your position in line with FRS 105. The financial statements and the Companies House filing are one strand of work; your Corporation Tax obligations are a separate strand, and a CT600 Corporation Tax Return is not the same thing as a set of accounts and is submitted to HMRC on a different basis. Keeping those two clearly separated in your own mind makes it far easier to stay on top of what is due and to whom. Where the figures raise questions — a borderline balance sheet total, an unusual transaction, a director’s loan, or a judgement call about measurement — we can discuss the options and explain the reasoning so you understand what is being presented and why. What we can offer is careful, well-documented preparation based on the information you provide and the reporting framework that applies; what no adviser can offer is a guarantee about how a third party will respond to a filing.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Peacehaven

If your Peacehaven company is considering FRS 105 Micro Entity Accounts, or you simply want to know whether the micro-entities regime is likely to suit you, get in touch and let’s talk it through. It helps if you can tell us a little about your business — your annual turnover, your balance sheet total, roughly how many people you employ, your company’s year-end date and whether it is part of a group — along with any records or bookkeeping information you already hold. From there we can review your circumstances, explain how FRS 105 would apply in your case, and set out clear, transparent pricing for the work involved. Whether you are a new company filing for the first time or an established business looking to simplify how your accounts are presented, we are happy to answer questions before you commit to anything.

─── 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 are FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are financial statements prepared under FRS 105, the UK financial reporting standard for micro-entities. They are available to companies that qualify for the micro-entities regime and choose to apply it. In practice, these accounts are shorter and simpler than accounts prepared under a fuller framework, with limited note disclosures, but they must still be prepared accurately and consistently from the company's financial records.

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 is based on size criteria, but size alone is not the whole story — certain companies and groups are excluded from the regime, and other eligibility rules can apply. It is also worth remembering that the regime is optional: a qualifying company can choose to report under a different framework if that better suits its circumstances.

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 criteria may choose to apply it, in which case FRS 105 applies to the accounts. Equally, a qualifying company can decide to use a different reporting framework, which may be appropriate if it needs to present more detail — for example where lenders, investors or group reporting requirements call for it.

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 these 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 those size conditions does not automatically guarantee eligibility, because other rules and exclusions can apply — for example, certain parent and subsidiary companies are kept out of the regime. It is worth confirming your position for each accounting period, as thresholds and circumstances can change.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the standard used by most small and medium-sized companies and is more comprehensive, covering areas such as fair value accounting, deferred tax and a wider set of disclosures. FRS 105 is a much more streamlined standard designed specifically for micro-entities, with simplified measurement rules and far fewer disclosure requirements. In short, FRS 105 is the lighter option, and it is only available where a company qualifies for the micro-entities regime and chooses to use it.

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

Where a company prepares accounts under FRS 105, those financial statements still form the basis of its annual accounts filing at Companies House, subject to the filing options and requirements that apply to it. The accounts filing is separate from the company's Corporation Tax Return. Companies House filing requirements for small and micro-entity accounts have been subject to change in recent years, so it is sensible to check the current position before you file rather than relying on how things were done a few years ago.

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

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare a company's financial statements. A CT600 is a separate Corporation Tax Return submitted to HMRC, which uses figures derived from the accounts but is calculated and filed on its own basis, with its own deadlines and its own adjustments — for example in respect of disallowable expenditure or capital allowances. Preparing the accounts does not, by itself, complete the Corporation Tax position.

Can a new limited company use FRS 105?

A newly incorporated company is not automatically a micro-entity simply because it is small or new. Eligibility depends on the applicable size criteria being met for the accounting period in question, along with the relevant rules and exclusions, and it also depends on the company choosing to apply the micro-entities regime. In a first year of trading the figures may look modest, but turnover, balance sheet total and employee numbers still need to be assessed properly before deciding which framework to use.