─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Riverside Park

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplest financial reporting framework available to qualifying UK companies. FRS 105 sets out how those accounts should be drawn up, and it applies when a company both qualifies for the micro-entities regime and chooses to apply it. For a company based in or around Riverside Park, professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are built properly from your own financial records, presented in the required format, and supported by the disclosures the framework expects. Because eligibility depends on size conditions, the nature of the company and certain exclusions, the first practical step is usually a short conversation about your circumstances, your accounting period and what you need the accounts to do for you.

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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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is one of the accounting regimes a qualifying UK company can choose to adopt. If a company qualifies for that regime and decides to use it, FRS 105 is the standard that applies to its financial statements. In plain terms, FRS 105 gives you a stripped-back set of accounts: the balance sheet, a small number of notes, and a profit and loss account that is normally prepared for the company’s own records and Corporation Tax purposes rather than filed in full. There is very little of the measurement complexity found in larger frameworks, and the disclosure requirements are deliberately minimal. For many Riverside Park companies, the appeal is straightforward: accounts that are proportionate to the size and activity of the business, prepared in a consistent format, and easier for directors and lenders to read. The important point is that FRS 105 is a choice available to qualifying micro-entities, not something a company simply drifts into, so eligibility should always be checked before the accounts are prepared.

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

FRS 105 Micro Entity Accounts are intended for UK companies that qualify for the micro-entities regime and decide to apply it. The size test is the obvious starting point. 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. Qualifying is not quite as simple as clearing those figures, however. Some companies are excluded from the micro-entities regime regardless of size, and there are rules around how the conditions apply to groups, to companies in their first period, and to periods where a company moves in or out of the regime. That is why we treat the thresholds as a guide rather than a verdict. If you run a company in Riverside Park and want to know whether FRS 105 is an option for your next set of accounts, we can look at your figures and your circumstances together and give you a clear answer.

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 properly starts with your underlying records: bookkeeping, bank statements, invoices, expense receipts, payroll information and any loan or asset documentation. From those records we build a balance sheet, a profit and loss account and the notes required under the framework, making sure the accounting policies used are appropriate and applied consistently, and that the figures reconcile to the records you hold. It is worth being clear about how the pieces fit together. FRS 105 Micro Entity Accounts are the company’s statutory financial statements, prepared under the micro-entities regime and normally filed with Companies House. Corporation Tax is a separate matter: the company’s tax position is reported to HMRC through a Company Tax Return (CT600), and the figures used there are based on the accounts but submitted through a different process to a different authority. A Confirmation Statement is separate again, and does not involve accounts at all. For companies in Riverside Park, we can handle the accounts preparation and the Companies House filing as distinct steps, explain what each document is for, and work from the information you provide rather than making assumptions about your affairs.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Riverside Park

If you are a Riverside Park company wondering whether the micro-entities regime is right for you, or you simply want your FRS 105 Micro Entity Accounts prepared accurately and on time, get in touch. Tell us a little about your business: your accounting period, your approximate turnover, balance sheet total and employee numbers, how your records are kept, and whether you also need help with your Companies House filing or your Corporation Tax position. With that information we can assess your circumstances, explain the options open to you and set out clear, transparent pricing for the work involved. There is no obligation, and no need to have everything perfectly organised before you call — a straightforward conversation is usually the quickest way to find out what is required.

─── 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 for micro-entities. It is the standard that applies when a qualifying company chooses to use the micro-entities regime, and it produces the simplest form of statutory accounts permitted in the UK. The accounts are built around a balance sheet, a small number of notes, and a profit and loss account that is usually prepared for the company's own records and tax purposes rather than filed publicly in full.

Who can use FRS 105?

It is available to companies that qualify for the micro-entities regime and then choose to apply it. Meeting the size tests is the starting point, but other rules and exclusions can affect whether a particular company is eligible, so eligibility should be confirmed for your specific circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic one. A company that qualifies may still choose a different framework, and there can be good reasons to do so — for example, where a lender, investor or group structure requires more detailed reporting. Because FRS 105 applies only where the regime is chosen, the decision should be made deliberately before the accounts are prepared.

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. Those thresholds are not the whole story, because certain companies are excluded from the regime and other rules can apply, so meeting the size tests alone does not guarantee that a company qualifies.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities standard and is far more limited in scope. It restricts measurement options, for example by not allowing revaluation or fair value accounting in the way FRS 102 does, and it requires very few disclosures. FRS 102 is a broader framework; its small-entities provisions are still relatively straightforward but permit more accounting choices and require more notes. Choosing between them is largely a question of eligibility, cost and how much detail the users of the accounts need.

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

Yes. FRS 105 Micro Entity Accounts are the company's statutory accounts, and a company preparing them under the micro-entities regime will normally file them with Companies House. Under the micro-entity provisions, the filed version is typically the balance sheet with the relevant notes; the profit and loss account is generally not filed. Filing the accounts is a separate exercise from reporting to HMRC for Corporation Tax.

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

Yes, they are two different documents going to two different organisations. FRS 105 Micro Entity Accounts are the statutory financial statements, filed with Companies House. A Company Tax Return, commonly known as a CT600, is submitted to HMRC to report the company's taxable profits after tax adjustments, and a Corporation Tax computation sits alongside it. The accounts are the starting point for the tax work, but they are not a substitute for it.

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

We generally work from your bookkeeping records or a trial balance covering the accounting period, together with bank statements, sales and purchase information, payroll details, and documentation for any assets, loans or director transactions. It also helps to know whether there have been significant changes during the year, such as new equipment, a new loan or a change in activity. If your records are not fully up to date, that is not a barrier — it simply forms part of the work we discuss upfront.

What changes are coming to micro-entity accounts filing?

Companies House has been moving towards digital, software-only filing of accounts, and micro-entity accounts filed under the regime are expected to include profit and loss account information rather than a balance-sheet-only submission. The detail and the timetable have developed over time, so it is worth checking the current Companies House guidance and planning ahead for how you hold and submit your figures.