─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Reading

If your company qualifies for the UK micro-entities regime and you choose to apply it, FRS 105 provides the financial reporting framework used to prepare your annual accounts. For directors in Reading, that means a simpler, more proportionate set of financial statements — but it still has to be prepared correctly, with the right disclosures, the right figures and the right treatment of items such as fixed assets, debtors and creditors. Professional preparation of FRS 105 Micro Entity Accounts helps you work from your own financial records, apply the framework consistently, and present a set of accounts that reflects your company’s circumstances. It also gives you a clear picture of your reported position before anything is filed, so there are no surprises later.

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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 Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. The UK micro-entities regime is an optional accounting framework: a company that qualifies may choose to apply it, and when that choice is made, FRS 105 is the standard used to prepare the financial statements. In practice, FRS 105 keeps things deliberately straightforward. It allows a simpler balance sheet and profit and loss account, restricts certain measurement options such as revaluations and fair value accounting, and reduces the volume of notes and disclosures compared with larger reporting frameworks. The result is a shorter, more readable set of accounts that still reports the company’s financial position honestly. For directors in Reading running a small limited company, FRS 105 can mean less time spent on reporting mechanics and more focus on the business itself — provided the company genuinely qualifies and the regime is the right fit.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — both conditions matter, and neither should be assumed. For accounting periods beginning on or after 6 April 2025, the size test generally requires a company 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 during the period. Meeting those conditions is a starting point rather than a guarantee of eligibility, because other rules and exclusions can apply — including restrictions based on the type of company, its activities or its structure. A qualifying company is also free to report under a different framework if that better suits its circumstances. For directors in Reading, the practical step is to review your company’s position against the current rules before deciding how the accounts should be prepared.

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 with Accurate Financial Reporting

FRS 105 Micro Entity Accounts are built from your company’s financial records — bank transactions, invoices, receipts, payroll information and any other supporting documents — and then prepared in line with the applicable reporting requirements for a qualifying micro-entity that has chosen the micro-entities regime. Our role is to turn those records into a properly structured set of financial statements, with the balance sheet, profit and loss account and any required notes presented consistently and clearly. It is important to separate two distinct obligations: preparing and filing the company’s accounts with Companies House is one task, while Corporation Tax is dealt with separately through a CT600 submitted to HMRC. We can support you with the accounts side of that picture and explain how the figures feed into your wider tax position, so you know what is being reported, where it is going, and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Reading

Whether you are preparing to file for the first time, moving away from a more complex reporting framework, or simply want your FRS 105 Micro Entity Accounts handled by someone who knows the micro-entities regime inside out, we are here to help. Get in touch to talk through your company’s position — your accounting period, your current records, how your accounts have been prepared previously, and what you need from the finished financial statements. The more you can share about your circumstances, the more useful our guidance will be. There is no obligation and no pressure; just a straightforward conversation about your FRS 105 Micro Entity Accounts and the practical steps that follow.

─── 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 designed for micro-entities. It sets out how a qualifying company that chooses to apply the micro-entities regime prepares its annual accounts, including the format of the balance sheet and profit and loss account, the measurement rules it must follow and the limited disclosures it needs to include. It is a separate framework from FRS 102, which is used by larger or more complex entities. In short, FRS 105 simplifies financial reporting for the smallest companies without removing the need for accurate records and honest reporting.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it — the regime is optional, and a qualifying company may instead report under a different framework. Eligibility also depends on more than size alone: certain rules and exclusions can prevent a company from being treated as a micro-entity even where its figures look small. It is worth checking your specific position rather than assuming, and if you are unsure, we can help you work through it.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies for it may choose to apply it and, if it does, FRS 105 is the framework used to prepare the accounts. Some qualifying companies decide to report under a different standard instead — for example because of the way they are structured, what their lenders or investors expect, or how they want their results presented. Choosing the regime is a decision for the directors, and it should be made with a clear understanding of the reporting consequences.

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 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 during the period. Meeting those size conditions does not automatically make a company a micro-entity, because other eligibility rules and exclusions can apply. Nor does it oblige a qualifying company to use the regime. Both parts matter — qualifying for the regime and choosing to apply it.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simpler framework for qualifying micro-entities, while FRS 102 is used more broadly by companies that do not qualify for (or choose not to apply) the micro-entities regime. FRS 105 limits some measurement options — for example, it does not permit revaluation of assets or fair value accounting in the way FRS 102 does — and requires far fewer notes to the accounts. The trade-off is simplicity and a shorter set of financial statements, in exchange for less flexibility in how certain items are presented. Which one suits your company depends on your eligibility and on what you need from your accounts.

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

Yes — a company's annual accounts are filed at Companies House, and where FRS 105 Micro Entity Accounts have been prepared, those are the accounts submitted. Filing at Companies House deals with the public record; it is a separate process from your Corporation Tax obligations. Companies House has also been introducing changes to how accounts are filed, including a move towards filing through compatible software rather than paper or very simple online routes, so it is worth checking current Companies House guidance before you file. We can explain what the filing step involves for your company.

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

Yes, they are two different things. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, based on the company's taxable profits and prepared in line with tax rules rather than the accounting framework. The two are connected — the accounts provide much of the starting information — but they are not the same document, they go to different bodies, and they follow different deadlines and requirements. It is worth keeping the accounts preparation and the tax filing clearly separated in your planning.

What information is needed to prepare FRS 105 accounts?

As a starting point, we need your complete financial records for the accounting period: bank statements and transaction listings, sales invoices and purchase invoices or receipts, payroll information if you employ staff, details of any loans, hire purchase or lease agreements, asset purchases and disposals, and stock figures if you hold inventory. It also helps to know how the previous year's accounts were prepared, whether the company has applied the micro-entities regime before, and any changes to the business during the period. The clearer and more complete the records, the more efficiently the FRS 105 Micro Entity Accounts can be put together.