FRS 105 micro-entity accounts in Strelley

FRS 105 accounts for Strelley 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 Strelley businesses: local facts

Strelley is in the Broxtowe council area, in the East Midlands region. ONS figures for 2026 count 3,335 VAT- or PAYE-registered businesses in Broxtowe, and 3,010 of them (90%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in Broxtowe are construction (560), wholesale and retail (460) and professional, scientific and technical services (415). For construction companies in Strelley, 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 19% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Strelley (Broxtowe 016) has 510 VAT- or PAYE-registered businesses, and 470 of them (92%) are micro businesses.

Broxtowe ranks 1030 of the 1105 areas we serve by number of micro businesses, and its micro share of 90% is in line with the 89% average across them. In wholesale and retail (460 micro businesses in Broxtowe), 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 (415 micro businesses in Broxtowe), 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.