─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rye

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime, the simplest financial reporting framework available to qualifying UK companies. If your company is based in Rye and meets the relevant size conditions, choosing the micro-entities regime means your accounts can be prepared under FRS 105 rather than a fuller framework such as FRS 102. Professional preparation helps ensure your accounts reflect your company’s actual transactions, are presented in line with the applicable reporting requirements, and are consistent with the information you file elsewhere. We work through your records with you, consider how the micro-entities regime applies to your particular circumstances, and prepare FRS 105 financial statements that are clear, accurate and suited to a small company. Eligibility is not automatic, so we look at your turnover, balance sheet total and employee numbers, along with the other rules and exclusions that can apply, before confirming the right approach for your Rye company.

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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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to use the micro-entities regime. In plain terms, it is a simplified set of accounting rules for the smallest companies, designed so that the accounts focus on the essentials: what the company owns, what it owes, and what it is worth at the year end. Under FRS 105, the accounts are prepared on a straightforward historical cost basis, with reduced disclosure requirements compared with the larger frameworks, which keeps the finished financial statements shorter and easier to follow. The regime is optional rather than something a company is forced into. A company that meets the micro-entity size conditions may choose to apply the micro-entities regime, and FRS 105 is the standard that applies when that choice is made. Companies that do not qualify, or that prefer a fuller framework, would normally report under something like FRS 102 instead. For a Rye-based director of a small trading company or property or consultancy business, FRS 105 accounts often mean less paperwork and a clearer picture of the company’s position, provided the rules are applied correctly from the start.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and choose to apply it. It is not open to every small company simply because it has modest figures, and it is not something a company is obliged to adopt. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. Meeting those tests is a starting point, not the whole answer. Other eligibility rules and exclusions apply, and some entities are prevented from using the micro-entities regime regardless of their size. If your company is based in Rye and you are weighing up FRS 105 Micro Entity Accounts against a fuller framework, the sensible approach is to look at your actual numbers, your structure and any restrictions that might apply, then decide whether the micro-entities regime is available and whether it is the right fit for the way your business is run and financed.

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 in Rye

Accurate financial reporting starts with good records and a clear understanding of the framework being applied. We prepare FRS 105 Micro Entity Accounts from your company’s bookkeeping, bank records, invoices, receipts and other supporting information, considering how the micro-entities regime applies to your business rather than applying a one-size-fits-all template. The work covers preparing the financial statements themselves — typically a balance sheet with the limited notes required under FRS 105 — and, where you ask us to, handling the separate Companies House filing of those accounts on your behalf. It is important to keep the different obligations distinct: the FRS 105 accounts are the company’s statutory financial statements, the Companies House filing is the submission of those accounts to the registrar, and a Corporation Tax Return (CT600) is a separate filing made to HMRC covering the company’s taxable profits. We can support you with the accounting and filing side while making clear where your Corporation Tax responsibilities sit. We work to the applicable reporting requirements and explain the judgements and figures behind the numbers, so you understand what has been prepared and why, without any suggestion that a filing outcome is guaranteed.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Rye

If you run a small company in Rye and want your FRS 105 Micro Entity Accounts prepared properly, the best next step is a straightforward conversation about where your business stands. Tell us about your company’s activities, its accounting period, your approximate turnover, balance sheet total and number of employees, and how your records are currently kept. From there we can look at whether the micro-entities regime is likely to suit your circumstances, explain what the preparation and filings involve, and outline our approach and pricing on a clear, transparent basis. Whether you are preparing accounts for the first time, switching from a fuller reporting framework, or simply want reassurance that the figures are right, we are happy to talk it through and set out what we need from you to get started.

─── 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 companies using the micro-entities regime. It is deliberately simplified: the accounts are prepared on a historical cost basis, revaluations and fair value accounting are not used, and the disclosure requirements are much lighter than those in larger frameworks. The result is a shorter set of financial statements, usually built around the balance sheet, that still gives a true picture of the company's assets, liabilities and equity at the period end.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not simply a matter of being small in everyday terms — the company must satisfy the relevant size conditions and must not fall within any of the rules or exclusions that prevent the regime being used. Meeting the size conditions alone does not automatically mean a company is eligible, so it is always worth checking the position for your specific company rather than assuming.

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 choose to apply it and therefore prepare FRS 105 accounts, but it can also choose to report under a fuller framework such as FRS 102, for example if a lender, investor or group arrangement makes more detailed reporting preferable. The right choice depends on the company's circumstances, plans and the people who rely on the accounts.

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 the following 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. These are size tests only — the relevant rules and exclusions still apply, and certain companies are not able to use the regime regardless of size. Because eligibility can change as a business grows or shrinks, it should be reviewed for each set of accounts.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider financial reporting standard used by most UK companies that are not micro-entities, and it allows more options and requires more disclosure. FRS 105 is the narrower, simpler standard that applies only when a qualifying company uses the micro-entities regime. In practice, FRS 105 accounts are shorter and use a more basic measurement approach, while FRS 102 accounts provide more detail and flexibility. A company that grows beyond the micro-entity conditions may need to move from FRS 105 to FRS 102 or another framework.

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

Yes. A company using the micro-entities regime still has to file its annual accounts with Companies House, and those accounts are prepared under FRS 105. Accounts filed under the micro-entities regime typically include the balance sheet and the limited notes required, and generally do not include the profit and loss account. Filing the accounts with Companies House is a separate exercise from anything submitted to HMRC, and preparing the accounts is distinct from the submission itself.

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

Yes, they are two different things. The FRS 105 accounts are the company's statutory financial statements, prepared under the micro-entities regime and filed with Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which calculates the company's taxable profits and the tax due. They often start from the same underlying records, but they serve different purposes, follow different rules and are filed with different bodies, so one does not replace the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first accounting period, provided it qualifies for the micro-entities regime and chooses to apply it. Eligibility for a first period is assessed in line with the applicable rules, which can work differently from a company with a full year of trading history behind it. It is also worth remembering that a company which later exceeds the size conditions may need to move to a fuller reporting framework, so the position is best reviewed as the business develops.