─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Reading Berks

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — a simplified accounting framework available to companies that qualify as micro-entities and actively choose to apply that regime. For many small companies in Reading Berks, FRS 105 can mean shorter, more straightforward accounts, with a reduced set of disclosures and a format that reflects the simpler nature of a micro-entity’s business. Because eligibility depends on a combination of size conditions and other rules and exclusions, it is worth checking carefully before assuming the regime applies. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are drawn correctly from your accounting records, presented in an appropriate format, and supported by the information needed for both the financial statements and the associated Companies House filing. It also gives you a clear point of contact to ask questions about how the framework applies to your particular company, rather than relying on generic templates or assumptions.

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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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 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 Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is a simplified accounting framework that qualifying companies can choose to adopt when preparing their annual financial statements. In plain terms, FRS 105 allows a qualifying company to prepare shorter accounts with fewer notes and simpler measurement requirements than the fuller standards used by larger businesses. It is not something that applies automatically: a company must both qualify for the micro-entities regime and decide to use it. If it does, FRS 105 is the standard that governs how the accounts are put together. The resulting FRS 105 financial statements typically cover the balance sheet, a small number of notes, and the accompanying statements required for filing, with certain disclosures and fair value style measurements not permitted. For a small company in Reading Berks with straightforward trading activity, that can make the annual accounts exercise noticeably more manageable — but the framework still has to be applied correctly, and the numbers still need to agree to your underlying records and any other filings you make.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Eligibility is not a single test. 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. These conditions are subject to the relevant rules — for example, the way turnover and employee numbers are measured, and whether the company formed part of a group — and separate exclusions apply to certain types of company and to entities that fall within specific regulated categories. In other words, meeting the size thresholds is a starting point rather than a guarantee of eligibility, and a company that does qualify is still free to prepare its accounts under a different framework. For businesses in Reading Berks, the practical step is to review your figures and structure against the current rules before deciding whether the micro-entities regime, and therefore FRS 105 Micro Entity Accounts, is the right fit for your statutory 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

Preparing FRS 105 Micro Entity Accounts is not simply a case of filling in a form. The figures need to be built up from your bookkeeping and financial records, checked for consistency, and then presented in a format that reflects the micro-entities regime and the applicable reporting requirements. Our work in this area covers the preparation of the financial statements themselves — typically a balance sheet and the required notes — together with the separate exercise of filing those accounts with Companies House. It is worth being clear that these are distinct from your Corporation Tax position: a CT600 is a separate filing submitted to HMRC, and the tax computation is not the same document as your FRS 105 accounts, even though the two draw on the same underlying records. We prepare accounts on the basis of the information you provide, apply the framework as it stands, and explain the judgements involved so you understand what has been done and why. We do not claim that any filing will be automatically accepted, and we cannot offer guarantees about outcomes — what we can offer is careful, transparent preparation and clear communication about your FRS 105 financial statements.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If your company may qualify for the micro-entities regime, or you simply want to understand whether FRS 105 is the right framework for your circumstances, get in touch. Tell us a little about your business, your accounting period, and how your records are currently kept, and we can talk through what preparing FRS 105 Micro Entity Accounts would involve for a company based in Reading Berks. If you already have draft figures, management information, or previously prepared accounts, sharing those helps us assess your position more quickly. There is no obligation to proceed — a straightforward conversation about eligibility, format and the information required is often all it takes to decide on your next step, and we will be clear about what we need from you and what happens next.

─── 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 how a qualifying company that has chosen the micro-entities regime prepares its annual financial statements, and it is deliberately simpler than the standards used by larger companies. In practice that means fewer disclosure notes, a more restricted set of measurement options, and a shorter set of accounts overall.

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 only about size — there are additional eligibility rules and exclusions, and some companies are excluded regardless of how small they are. Because of this, it is worth reviewing your specific circumstances rather than assuming the regime applies.

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 qualifies may adopt it and thereby apply FRS 105, or it may instead prepare its accounts under a fuller framework such as FRS 102. The choice can affect comparability with earlier periods and with other companies, so it is worth thinking through before switching.

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, subject to the relevant rules and exclusions: 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 these size conditions alone does not automatically guarantee eligibility, as other rules and exclusions can also apply.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general UK financial reporting standard and applies far more widely, including to many small and medium-sized companies. FRS 105 is a much more streamlined standard reserved for micro-entities. In broad terms, FRS 105 gives you fewer notes and simpler accounting, while FRS 102 offers more flexibility and more disclosure but requires considerably more work to prepare.

Are FRS 105 accounts filed with Companies House?

Yes — where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts are the ones used for the statutory accounts filing with Companies House, subject to meeting the filing requirements in force at the time. Filing the accounts is a separate step from preparing them, and it is separate again from any Corporation Tax submission made to HMRC.

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

Yes, they are two different things. FRS 105 accounts are the statutory financial statements prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC, which reports your taxable profits and is normally accompanied by a tax computation. They draw on the same records, but the accounting framework does not by itself determine the tax treatment.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it qualifies as a micro-entity and chooses the regime. In practice, a first-year company usually has limited activity, but eligibility still depends on the size conditions being met alongside the other rules and exclusions, so it should be reviewed rather than assumed.

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

Usually you would provide your bookkeeping or accounting records for the period, bank and supplier statements, details of any fixed assets and loans, stock or work in progress figures where relevant, and the previous year's accounts for comparison. If you already have draft figures or software reports, those help considerably. We will confirm exactly what is needed once we understand how your business is structured and run.