─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Richmond

If your company is considering FRS 105 Micro Entity Accounts in Richmond, the starting point is understanding what the micro-entities regime involves and whether it is the right fit for your business. FRS 105 provides the financial reporting framework that applies to qualifying micro-entities which choose to use that regime, and it allows for a simpler, more streamlined set of financial statements than the frameworks used by larger companies. Professional preparation of FRS 105 Micro Entity Accounts can help ensure your figures are presented appropriately for your company’s circumstances, that the disclosures made are consistent with the framework chosen, and that the accounts are built up from your underlying financial records rather than from assumptions. Because eligibility depends on both the size conditions and the wider rules and exclusions that apply to the micro-entities regime, meeting the size thresholds alone does not automatically mean a company qualifies. A short conversation about your company’s turnover, balance sheet total, employee numbers and structure is usually enough to establish whether FRS 105 is likely to be available to you and whether it suits the way you want to report.

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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  
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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

What Is FRS 105? Micro-Entity Accounts Explained for Richmond Companies

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for, and choose to apply, the micro-entities regime. In plain terms, it is the rulebook that sits behind a very small company’s annual financial statements, and it is deliberately lighter than the standards used by larger businesses. Where a company qualifies as a micro-entity, it can elect to use the micro-entities regime, and once that choice is made, FRS 105 is the framework that governs how the accounts are put together. The result is a simpler balance sheet and notes, with far fewer disclosure requirements than you would see under a fuller reporting framework. That simplicity is the main attraction: less detail to gather, a clearer set of financial statements, and a reporting format that reflects the scale of a genuinely small company. It is worth remembering that FRS 105 is an accounting and financial reporting framework, not a tax return — it deals with the annual accounts, while Corporation Tax is handled separately. For a company in Richmond weighing up its reporting options, FRS 105 Micro Entity Accounts can be an efficient route, provided the company qualifies for the regime and the directors are comfortable with the reduced disclosures it brings.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility for Richmond Companies

FRS 105 is designed for companies that qualify for the UK micro-entities regime and decide to apply it — qualification and election are two separate steps. 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, 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. It is important to treat those figures as conditions to be checked rather than a green light on their own. Certain companies are excluded from the micro-entities regime whatever their size, and the way turnover, balance sheet total and employee numbers are measured can be affected by the company’s structure, its group relationships and whether it is part of a larger organisation. A company can also move in or out of eligibility as it grows or contracts, so eligibility should be reviewed each year rather than assumed to continue. If your company is in Richmond and you are weighing up FRS 105 Micro Entity Accounts, we can review your circumstances against the current requirements and explain whether the micro-entities regime looks available to you and whether it is likely to suit your reporting needs.

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 for Accurate Financial Reporting in Richmond

Preparing FRS 105 Micro Entity Accounts is about more than dropping your figures into a template. The accounts need to be built from your company’s financial records — bank statements, sales and purchase information, payroll details, asset records and any loans or director balances — and then presented in line with the requirements of FRS 105 and the micro-entities regime. Our approach is to work through those records carefully, sense-check the numbers with you, and prepare financial statements that reflect what actually happened in the period, including the notes and disclosures that the framework calls for. It is also important to keep the different obligations separate: preparing and filing the annual accounts with Companies House is one task, while a Corporation Tax Return (CT600) submitted to HMRC is a separate filing with its own figures and its own deadlines. The same records often feed both, but they are not the same document and they are not submitted to the same place. Similarly, a Confirmation Statement is a distinct filing and is not part of your FRS 105 Micro Entity Accounts. We aim to give you a clear picture of your position, an accounts file that stands up to scrutiny, and straightforward guidance on what is required from you and when.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Richmond

Not sure whether your company qualifies for the micro-entities regime, or whether FRS 105 is the right framework for the way you want to report? Get in touch and we can talk through your FRS 105 Micro Entity Accounts requirements in plain English. It helps if you can share a little about your company’s turnover, balance sheet total and average employee numbers, along with your latest financial records, so we can assess your circumstances properly and explain the options open to you. Whether you are preparing micro-entity accounts for the first time, moving across from another framework, or simply want a second pair of eyes on figures you have already drafted, we are happy to help you work out the next step.

─── 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 in simple terms?

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. It sets out how a qualifying micro-entity prepares its annual financial statements, and it is intentionally simpler than the standards used by larger companies. In practice it means a shorter balance sheet with limited notes and far fewer disclosures, which suits the scale and structure of a very small company.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Qualification is based on size conditions together with the wider rules and exclusions that apply to the regime. Meeting the size thresholds on their own is not a guarantee, because certain companies are excluded regardless of size and other conditions may apply, so eligibility is best confirmed by looking at your company's specific circumstances.

What are the current micro-entity size 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. Other eligibility rules and exclusions can also affect whether the micro-entities regime is available, so satisfying two of the three conditions is not automatically the end of the story.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to report under a fuller framework, for example because a lender, investor or group parent wants more detail, or because they want to present a more comprehensive set of financial statements.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is the most streamlined option, with a simplified balance sheet and minimal disclosures. FRS 102 is the standard used by larger small companies and others, and it requires considerably more disclosure and, in many cases, more judgement around recognition and measurement. Which one applies depends on the regime the company qualifies for and elects to use.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Yes — a company's annual accounts form part of its filing obligations at Companies House, and micro-entity accounts are filed in the same way as other accounts within the deadline that applies to your company. Filing the accounts is separate from filing a Corporation Tax Return with HMRC, and separate again from a Confirmation Statement. We can explain which documents go where so nothing is missed.

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, while a CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits. The two are closely connected because the accounts figures usually inform the tax return, but they are prepared for different purposes, submitted to different bodies, and have their own requirements.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it, although in the first period the figures may be shaped by start-up costs, initial funding and any part-period trading. Eligibility still depends on the size conditions and the wider rules that apply to the regime, so it is worth checking your position before assuming micro-entity accounts are the right route for your first set of accounts.

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

Typically we would ask for your accounting records for the period, including bank statements, sales and purchase information, payroll or employment details where relevant, records of any assets, loans or director balances, and details of any stock or work in progress. If a previous set of accounts exists, that is helpful too. From there we can prepare the financial statements and let you know if anything further is needed.

Are the filing requirements for micro-entity accounts changing?

Company filing requirements have been under review in recent years, with reforms being introduced in stages, and the position can shift as new rules take effect. Because changes may affect what small and micro-entity companies need to file and how it is filed, it is sensible to check the current requirements for your accounting period rather than relying on how things were done a few years ago. We can talk you through what applies to your company's accounts.