FRS 105 micro-entity accounts in Sittingbourne

FRS 105 accounts for Sittingbourne companies

FRS 105, the Financial Reporting Standard applicable to the Micro-entities Regime, sets the recognition and measurement rules for the smallest companies. It is simpler than FRS 102 Section 1A, which small companies use. Assets and liabilities are generally recorded at historical cost, there is no deferred tax and most disclosure notes fall away.

FRS 105 accounts for Sittingbourne businesses: local facts

Sittingbourne is in the Swale council area, in the South East region. In Swale, 4,760 of the 5,345 VAT- and PAYE-registered businesses in the 2026 ONS count have fewer than ten employees, around 89%. If you run a company in Sittingbourne, you are in good company.

The largest groups of micro businesses in Swale are construction (1,045), wholesale and retail (645) and professional, scientific and technical services (615). If you work in construction in Sittingbourne, Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. That puts construction at 22% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Sittingbourne (Swale 010) has 560 VAT- or PAYE-registered businesses, and 460 of them (82%) are micro businesses.

Swale ranks 744 of the 1105 areas we serve by number of micro businesses, and its micro share of 89% is in line with the 89% average across them. In wholesale and retail (645 micro businesses in Swale), closing stock and the VAT treatment of different product lines are the usual pressure points, so we value stock carefully and check your VAT records. In professional, scientific and technical services (615 micro businesses in Swale), fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised.