─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Streatham

FRS 105 Micro Entity Accounts in Streatham are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the micro-entities regime. FRS 105 is a simplified framework: it allows accounts to be prepared on a historical cost basis, with a shorter and more streamlined set of disclosures than larger-company frameworks require. Professional preparation helps make sure the figures in your financial statements are built up properly from your accounting records, that the format and disclosures suit a micro-entity filing, and that the accounts are consistent with the information you report elsewhere. Eligibility is not automatic — a company needs to meet the applicable size conditions and any other relevant rules, and applying the micro-entities regime is a choice rather than a default. We can review your circumstances, explain what FRS 105 would mean for your company, and prepare your FRS 105 Micro Entity Accounts so they reflect your position accurately.

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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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 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 It Means for Micro-Entities in Streatham

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that a very small company follows when it prepares its annual accounts under the micro-entities regime. It sits alongside the Companies Act requirements that govern what statutory accounts must contain, and it replaces much of the detail found in larger frameworks with a simpler, historical cost approach and reduced disclosure. The important point is that the micro-entities regime is an available accounting regime, not something that applies to every small company automatically. A company first needs to qualify, then it needs to choose to apply the regime — and it is only when that choice is made that FRS 105 applies to the financial statements. For a Streatham company that qualifies and opts in, the result is usually a shorter, more straightforward set of accounts that still meets the legal reporting requirements for a micro-entity.

Who Can Use FRS 105 in the UK? Guidance for Streatham Companies

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size, and 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. Meeting those size tests is an important part of the picture, but it is not the whole picture. Certain companies are excluded from the micro-entities regime whatever their size, and other eligibility rules and conditions can affect whether the regime is available. It is also worth remembering that even a qualifying company is not obliged to use FRS 105 — it is an available framework, and FRS 105 applies once the regime has been chosen. Professional guidance helps Streatham companies work through the eligibility position carefully and decide which framework genuinely suits their reporting needs.

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 for Streatham Companies

Preparing FRS 105 Micro Entity Accounts is not simply a matter of dropping your bookkeeping figures into a template. The accounts need to be built from your underlying financial records — sales, expenses, assets, liabilities, and any balances owed to or by the company — and then presented in line with the reporting requirements that apply to the micro-entities regime. That includes getting the format right, applying the correct accounting treatment for a historical cost framework, and making sure the disclosures match the framework you have chosen. It is also worth separating the different obligations clearly: the preparation of the financial statements and the subsequent filing of those accounts with Companies House is one process, while Corporation Tax is a separate matter dealt with through a Company Tax Return (CT600) submitted to HMRC. A CT600 is not the same document as your statutory accounts, even though the two are related. Working with an experienced accountant helps keep each part of the process in its proper place and reduces the risk of avoidable errors or inconsistencies between your filings.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Streatham

If you run a small company in Streatham and want to understand whether the micro-entities regime is right for you, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, we are here to help. Tell us about your company — its trading activity, its size, the records you keep, and the accounting framework you currently use — and we can assess how your circumstances fit with FRS 105. From there, we can talk you through the options, explain what information we would need, and set out clear, transparent pricing for the work involved. Whether you are preparing accounts for the first time, switching framework, or looking for a second pair of eyes on an existing set of micro-entity accounts, get in touch and we will discuss your requirements in plain English.

─── 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 should prepare its annual financial statements, using a simplified historical cost approach with reduced disclosure compared with larger-company frameworks. It works alongside the Companies Act requirements that govern statutory accounts, rather than replacing them.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is the first step; adopting the regime is a separate decision. Because other rules and exclusions can apply — for example, in relation to certain company types or activities — meeting the size conditions alone does not automatically mean a company can or should use FRS 105. We can look at your specific circumstances before any framework is adopted.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. You can qualify as a micro-entity and still prepare your accounts under a different framework, such as FRS 102 Section 1A. FRS 105 applies when the micro-entities regime is the framework you have chosen. The decision usually comes down to how much disclosure you want or need, and whether a simplified set of accounts suits the way your company is run and financed.

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: 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 conditions sit within a wider set of rules, and certain companies are excluded from the regime regardless of size, so it is always worth confirming the position for your own accounting period before deciding to apply FRS 105.

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 and involve different levels of detail. FRS 105 is the micro-entities framework: it is deliberately short, uses a historical cost basis, and requires far fewer disclosures. FRS 102 is a broader framework used by a much wider range of companies, and Section 1A of FRS 102 provides a reduced-disclosure version for small companies. In practice, the choice often hinges on whether you qualify for the micro-entities regime and whether you are comfortable with the more limited information that FRS 105 accounts present.

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

Yes — if your company prepares statutory accounts under FRS 105, those accounts form part of your company's annual filing obligations and are filed with Companies House. The accounts are prepared first and then filed, and the filing requirements themselves can change over time, so it is worth checking what applies to your accounting period. Filing your accounts is a separate process from dealing with your Corporation Tax position.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are your statutory financial statements, prepared under the micro-entities framework and filed with Companies House. A CT600 is a Company Tax Return submitted to HMRC to report your company's taxable profits and calculate the Corporation Tax due. The figures in the two documents are related, because both are based on the company's results, but the CT600 is not a substitute for the accounts and the accounts are not a Corporation Tax filing. Confirmation Statements are separate again.

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

Typically we would ask for your accounting records for the period — bookkeeping or accounting software exports, bank statements, sales and purchase information, and details of any assets, liabilities, loans or Director's Loan Account balances. It also helps to know the framework used for the previous period, so any change in approach can be handled properly, along with details of anything unusual that happened during the year. Once we understand your circumstances, we can confirm exactly what is needed and how your FRS 105 Micro Entity Accounts will be put together.