─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Seven Kings

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, which is the simplest financial reporting framework available to qualifying UK companies. If your company meets the relevant size conditions and chooses to apply that regime, FRS 105 sets out how the accounts should be prepared, with simplified recognition and measurement rules and a much lighter disclosure requirement than larger reporting frameworks. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect the company’s actual financial records and circumstances — its income, costs, assets, liabilities and period-end position — rather than being put together to a generic template. From our base serving companies in Seven Kings and across the surrounding area, we work through your records with you, confirm the basis on which the accounts are being prepared, and handle the Companies House filing that follows. Choosing the micro-entities regime is a decision, not an automatic outcome, so it is worth checking your position each year before the accounts are finalised.

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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. It sits alongside the micro-entities regime, a set of company size rules that allow the smallest companies to prepare simpler accounts. Where a company qualifies for that regime and chooses to use it, FRS 105 is the standard that applies to its financial statements. In practice, FRS 105 keeps things straightforward: assets and liabilities are generally measured on a simple historical cost basis, and the volume of notes and disclosures is reduced compared with other frameworks. The result is a shorter, cleaner set of accounts that still shows the company’s financial position at the year end and its results for the period. FRS 105 itself is not a tax return and it is not a filing form — it is the accounting framework that shapes how the numbers are presented. Qualifying companies can choose to apply the micro-entities regime, and FRS 105 applies when that choice is made; the alternative for many small companies is FRS 102 Section 1A.

Who Can Use FRS 105 in the UK? Companies That May Qualify for the Micro-Entities Regime

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it — both parts matter. 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. Even where those conditions are met, other eligibility rules and exclusions can apply, and certain companies are excluded from the regime altogether. Meeting the size thresholds therefore does not guarantee that a company is eligible, and eligibility does not mean FRS 105 must be used — it remains a choice. A company in Seven Kings that is unsure whether it falls within the regime should have its position reviewed for the specific accounting period in question before the accounts are 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 Micro Entity Accounts in Seven Kings

Preparing FRS 105 Micro Entity Accounts properly means starting from reliable financial records and applying the reporting requirements that apply to your company. We review your bookkeeping, bank and payment records, invoices, payroll information, asset purchases, loans and stock figures, then prepare financial statements that present your results and year-end position in the FRS 105 format. Where a decision or judgement is needed — for example around how a particular item is treated — we explain the position in straightforward terms so you understand what the accounts show and why. It is important to keep the two strands of compliance separate: the FRS 105 financial statements are prepared under the micro-entities regime and filed at Companies House, while Corporation Tax is dealt with under a separate Corporation Tax Return (CT600) submitted to HMRC. Meeting one obligation does not satisfy the other. If you are a director of a company in Seven Kings, we can prepare the accounts, support you through the filing, and make sure you know which other filings still apply to you.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Seven Kings

If you would like your FRS 105 Micro Entity Accounts prepared clearly, accurately and without unnecessary jargon, get in touch to talk through your requirements. Tell us a little about your company — its accounting period, what it does, roughly what it owns and owes, and how your records are currently kept — and we can assess whether the micro-entities regime looks suitable for your circumstances. If it does, we will explain what we need from you, prepare the FRS 105 financial statements, and set out the filing steps that follow. If it does not, we will say so and talk you through the alternatives. Whether you are already trading in Seven Kings, newly incorporated, or simply want a second opinion on how your accounts are currently prepared, a short conversation is usually the quickest way to get clarity. Clear, transparent pricing is agreed before any work begins.

─── 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 is deliberately narrow in scope: if a company qualifies for the micro-entities regime and chooses to use it, FRS 105 governs how the financial statements are prepared and what must be disclosed. It uses simplified recognition and measurement rules — broadly historical cost — and requires far fewer notes than other reporting frameworks, which keeps the accounts short and readable.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK size rules and choose to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of these 3 conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those conditions is not the whole story — other eligibility rules and exclusions can apply, and some companies are prevented from using the regime regardless of size.

Is FRS 105 compulsory for a micro-entity?

No. Qualifying for the micro-entities regime does not force you to use it. It is a choice, and many qualifying companies instead prepare accounts under FRS 102 Section 1A, which offers more flexibility in some areas but comes with fuller disclosure requirements. The right answer depends on your circumstances, your plans and who relies on your accounts, which is why it is worth reviewing the position rather than assuming one framework is automatically better.

What is the difference between FRS 105 and FRS 102?

Both are UK reporting standards, but they are aimed at differently sized companies. FRS 105 is the micro-entities standard: it is shorter, based on simpler historical cost measurement, and requires minimal disclosure. FRS 102 Section 1A is the small companies regime and allows more accounting options — for example in areas such as financial instruments, revaluations and deferred tax — but in return it expects more notes and explanation in the accounts. FRS 105 gives you simplicity; FRS 102 Section 1A gives you flexibility.

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

Yes — preparing the accounts is one step, and filing them at Companies House is another. Micro-entity accounts prepared under FRS 105 are filed in accordance with Companies House requirements, using the appropriate filing option for the company. Filing rules and formats have been evolving in recent years, so it is worth confirming the current position for your period before you submit, rather than relying on how a previous year was filed.

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

Yes, they are two distinct obligations. The FRS 105 Micro Entity Accounts are the financial statements, prepared under the micro-entities regime and filed at Companies House. The CT600 is the Corporation Tax Return submitted to HMRC, and taxable profit is calculated under tax rules, which do not always match the figures in the accounts. Filing one does not discharge the other, and both need to be dealt with on their own terms.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies as a micro-entity for its first accounting period and chooses to apply the regime. First-year accounts can cover a longer period than twelve months, and eligibility tests work differently in that situation, so the position should be checked rather than assumed. It is also worth remembering that a first set of accounts has to satisfy Companies House requirements at the same time.

What information do you need to prepare FRS 105 Micro Entity Accounts?

Usually we need your bookkeeping or accounting records for the period, bank and payment platform statements, sales and purchase invoices, payroll information for any employees, details of equipment or other assets bought or sold, loan and finance agreements, stock or work-in-progress figures where relevant, and a copy of the previous year's accounts if there is one. If your records are incomplete or kept in a spreadsheet, that is not a problem — tell us how things stand and we can talk through what is needed to get to a reliable set of figures.