─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shoreham, Prepared Properly

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, and they matter a great deal to small companies in Shoreham that want their reporting to stay simple, clear and suited to their size. FRS 105 is the financial reporting framework that applies when a qualifying company chooses to use the micro-entities regime, so the starting point is always an honest look at whether your company meets the relevant conditions and whether the regime is the right fit for how you trade. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are built from accurate bookkeeping, reflect your actual financial position and are presented in the format the framework expects for a micro-entity. It also helps you avoid the common pitfalls, such as applying accounting treatments that belong under a different framework or producing figures that do not reconcile with the records behind them. We work with limited companies across Shoreham and the surrounding area, taking the time to understand the business before deciding how the accounts should be prepared.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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 for Shoreham Companies

In plain terms, FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the UK micro-entities regime, which is a simplified accounting regime that qualifying companies can choose to apply instead of the fuller reporting expected under other standards. When a company qualifies and decides to use that regime, FRS 105 is the standard its financial statements are prepared under. The attraction is simplicity: FRS 105 keeps measurement straightforward, avoids much of the fair value and revaluation complexity found elsewhere, and allows for a shorter, more modest set of financial statements, typically a balance sheet with supporting notes. The trade-off is that the accounts focus on the basics of what the company owns, owes and is worth, rather than offering the broader disclosures some readers might expect. For many owners of small companies in Shoreham, that balance is exactly right — but it is a choice, not an automatic entitlement, and it should be made with your circumstances in mind.

Who Can Use FRS 105 in the UK? Eligibility for Shoreham Companies

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it, which means two things have to line up: the company must be eligible, and it must decide to use the regime. 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. Those thresholds give a useful sense of the kind of company the regime is designed for, but they are not the whole test. Other eligibility rules and exclusions can apply, and certain companies are excluded from the regime regardless of their size, so a company can meet all three size conditions and still not be able to use FRS 105. The position should therefore be assessed properly for each company and each accounting period, including newly incorporated companies and those whose circumstances have changed. If you are unsure where your Shoreham company stands, we can review the details and set out the options clearly.

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 with Accurate Financial Reporting

Good FRS 105 Micro Entity Accounts start with good records. We prepare your financial statements from the accounting information you provide, whether that comes from bookkeeping software, spreadsheets or a shoebox of paperwork, and we build them in line with the reporting requirements that apply to a micro-entity preparing under FRS 105. That means getting the balance sheet right, making sure the notes say what they need to say, and checking that the figures tell a consistent story about the company’s year. It is worth being clear about what sits where: the financial statements are prepared for the company and its members, and the accounts are filed with Companies House as part of your annual filing obligations, while Corporation Tax is a separate matter handled through a Company Tax Return (CT600) submitted to HMRC. We can help with both, but they are distinct pieces of work with different purposes, different audiences and different rules. Our aim is straightforward, well-organised reporting that reflects your company’s position accurately, with the reasoning behind it explained in language you can follow.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Shoreham

If you run a small limited company in Shoreham and want to know whether FRS 105 Micro Entity Accounts are the right route for you, the sensible next step is a conversation. Tell us how the company is structured, how it trades, what your turnover, balance sheet and staffing look like, and whether you have already prepared accounts under a different framework. Share your bookkeeping records, previous year’s accounts and any relevant correspondence, and we can assess your circumstances and explain the options open to you. There is no obligation and no pressure — just a clear discussion about what your reporting needs, followed by a straightforward explanation of how we would approach the work and what our pricing would look like.

─── 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 sets out how a qualifying company that has chosen to apply the micro-entities regime prepares its financial statements, keeping measurement and disclosure requirements deliberately simple. In practice, FRS 105 accounts usually consist of a balance sheet with a small number of supporting notes, rather than the longer set of statements and disclosures you would see under a fuller framework.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. 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. Meeting those size conditions is not the whole story, though — other eligibility rules and exclusions can apply, and some companies are not permitted to use the regime regardless of their size. Qualifying is also only half the decision; the regime has to be chosen.

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 can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to report under a fuller framework because of their plans, their lenders, their investors or simply the level of detail they want in their accounts. The important point is that eligibility does not oblige you to use the regime — it gives you the option.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity and they produce different accounts. FRS 102 is the standard used by a much wider range of companies and generally requires more extensive measurement and disclosure, including areas such as fair value accounting and revaluations. FRS 105 is far more restricted: it is only for qualifying micro-entities that have chosen the micro-entities regime, and it keeps things simple, with a short balance sheet and limited notes. If you move between the two, the accounts can look quite different, so it is worth planning any change rather than switching casually.

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

Yes, in the usual case. A company that prepares its annual accounts under FRS 105 will generally need to file accounts with Companies House as part of its normal annual filing obligations, and micro-entity accounts are filed in the micro-entity format. Filing is separate from the accounts being prepared — the preparation is about getting the figures right, while the filing is about delivering the right document to the right place in the right form. Companies House does not approve or review accounts in a professional sense, so filing them does not amount to any kind of endorsement.

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

Yes, they are separate things. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, and they are generally filed with Companies House. A Company Tax Return, usually referred to as a CT600, is a Corporation Tax filing submitted to HMRC, and it is prepared for tax purposes rather than financial reporting purposes. The two are connected in the sense that the accounts figures normally feed into the tax computation, but they are distinct documents, prepared for different recipients and governed by different rules.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but not automatically. It still needs to qualify for the micro-entities regime and choose to apply it, and the relevant conditions have to be considered for the period in question. A first accounting period can be different in shape from later ones, so it is worth reviewing the position rather than assuming the answer. We are happy to look at a new company's circumstances and explain what the accounts should look like.

What information is needed to prepare FRS 105 accounts?

We normally ask for your bookkeeping records or accounting software access, bank statements covering the period, sales invoices and purchase receipts, details of any loans, hire purchase or lease agreements, payroll information for the average employee count, a list of assets bought or sold, stock or work in progress figures where relevant, and the previous year's accounts if there are any. It also helps to know about anything unusual that happened during the year — a new loan, a significant purchase, a change in how the company trades — because that often shapes how the accounts should be presented.