─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Southend

FRS 105 Micro Entity Accounts in Southend are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. FRS 105 is a distinct reporting standard: it is simpler and shorter than FRS 102, and it is built around the recognition and measurement rules set out for micro-entities rather than the fuller disclosure regime used by larger companies. Because not every small company qualifies, and because even qualifying companies can decide to report under a different framework, the starting point is always to check your company’s circumstances against the eligibility rules. From there, professional preparation helps ensure the accounts are built up properly from your financial records, that the disclosure requirements relevant to your company are addressed, and that the figures presented are consistent with the information you report elsewhere. If you are a director of a small company in Southend and want to understand how FRS 105 Micro Entity Accounts could work for you, we can talk you through the framework, what it involves in practice, and what information we would need from 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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 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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 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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 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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 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 It Is and Why It Matters

In plain terms, FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime — the set of legal rules that allows certain very small companies to prepare and file simplified accounts — and it applies when a qualifying company chooses to use that regime rather than reporting under a fuller framework such as FRS 102 Section 1A. The appeal of FRS 105 is its simplicity. It uses a straightforward approach to measuring assets and liabilities, and it requires far fewer notes to the accounts than larger-company reporting, which means the financial statements are usually shorter and easier for a director to read and understand. What you get is a set of financial statements — typically a balance sheet, a profit and loss account and a small number of supporting notes — prepared on a basis designed for the size and nature of a micro-entity’s business. What FRS 105 is not is a tax return or a Companies House form: it is the accounting framework behind the accounts themselves. For directors in Southend, the practical question is usually whether the micro-entities regime suits their company, and if so, how to apply FRS 105 correctly to the numbers in front of them.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying is a two-stage idea: the company needs to fall within the micro-entity size thresholds, and it also needs to clear the other eligibility rules that sit around the regime. On size, 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. Those thresholds are a useful guide, but they are not the whole story. Certain categories of company are excluded from the regime altogether regardless of turnover or headcount, and other rules can affect whether the micro-entities regime is available in a particular period. That is why a company should confirm its own position rather than assume that being small automatically means FRS 105 applies. If the regime is available and the directors choose it, FRS 105 becomes the framework used to prepare the financial statements, and the accounts are then built up from the company’s records in line with that basis.

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 accurate bookkeeping and supporting records, then applies the recognition, measurement and disclosure requirements that are relevant to a micro-entity. In practice this means working through your income and expenditure, your assets and liabilities, any stocks or work in progress, and the balances owed to and by the company, so that the figures in the financial statements reflect what actually happened in the period. It also means considering the specific reporting rules that apply to your company’s circumstances instead of applying a one-size-fits-all template. The accounts themselves are one piece of the picture. Filing those financial statements with Companies House is a separate step from dealing with Corporation Tax, and a Corporation Tax Return (CT600) is a separate filing submitted to HMRC — the CT600 is not the same document as the FRS 105 accounts, even though the two are clearly connected. Keeping that distinction in mind helps directors avoid confusion about what is due, to whom, and on what basis. Our role is to prepare your FRS 105 financial statements carefully and consistently, explain the judgements behind them, and help you understand how they fit together with your other filing and tax obligations.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Southend

If you are unsure whether your company qualifies for the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared accurately and explained in plain English, we are here to help. Get in touch and tell us a little about your company — how it trades, when your accounting period ends, whether you are newly incorporated or already filing, and what records you currently keep. That background lets us assess your circumstances and set out clearly what is involved, what we would need from you, and the options available. Whether you need a one-off set of accounts or ongoing support through the year, a straightforward conversation is the best place to start.

─── 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 sets out how a qualifying company that chooses to use the micro-entities regime should recognise and measure items in its financial statements, and it requires far fewer disclosures than the fuller reporting frameworks used by larger companies. The result is normally a shorter, simpler set of accounts while still following a defined, formal reporting basis.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. Eligibility is not determined by size alone, because a range of other rules and exclusions can affect whether a company is permitted to use the regime — for example, certain types of entity are excluded regardless of their size. The sensible approach is to check your company's specific position rather than assume the regime applies.

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 meets the size conditions may still decide to prepare accounts under a different framework, such as FRS 102 Section 1A. FRS 105 applies when the regime is chosen, so directors of a qualifying company effectively have a decision to make about which reporting basis best suits their circumstances.

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 3 applicable size conditions to fall within the micro-entity size thresholds: 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 these size conditions is the starting point, not the whole test — other eligibility rules and exclusions can still apply.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard, with simplified measurement rules and minimal disclosure. FRS 102 is the wider standard for small and larger entities, and FRS 102 Section 1A provides a reduced-disclosure version for small companies. Choosing between them affects how items are measured and how much detail appears in the notes to the accounts.

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

The financial statements prepared under FRS 105 are the accounts that a company files at Companies House, in line with its filing obligations. Filing the accounts is separate from the company's Corporation Tax position, and the format and content of the accounts you file should be consistent with the framework you have applied. We can prepare the accounts and deal with the Companies House filing as part of the same piece of work.

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

Yes. The FRS 105 accounts are the company's financial statements, prepared under the micro-entities reporting framework. A Corporation Tax Return, usually submitted as a CT600, is a separate filing made to HMRC to report the company's taxable profits and calculate the tax due. The figures in the accounts and the tax return need to be reconciled, but they are different documents with different purposes and different recipients.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it for the period in question. New companies still need proper records from day one — bank statements, invoices, receipts, and details of any assets or liabilities — because the accounts have to be prepared from real bookkeeping rather than estimates. It is worth checking eligibility early so the first set of accounts is prepared on the right basis.

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

Typically we would ask for your accounting records for the period, bank statements and reconciliations, sales and purchase information, details of any stock or work in progress, a list of assets owned by the company, and outstanding debtor and creditor balances. If the company has loans, director's transactions or unusual items, supporting documents help ensure the accounts are accurate. The clearer the records, the smoother the preparation process.

What changes are coming to micro-entity accounts filing?

Company accounts filing requirements have been evolving, and the direction of travel is towards filing accounts in a more structured, digital format rather than as simpler documents. Because the detail and timing of these changes can affect what you submit and how, it is worth reviewing your filing arrangements with your accountant so you are ready for the requirements that apply to your company's reporting periods.