─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Sudbury

FRS 105 provides the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. For a small company in Sudbury, that choice affects how the financial statements are put together, what they include and how the figures are presented, so it is worth understanding the framework properly before the year-end accounts are prepared. Professional preparation of FRS 105 Micro Entity Accounts can help ensure the accounts are drawn up appropriately for your company’s own circumstances, based on the records you hold and the reporting requirements that apply to you. It also helps to have a clear view of what the figures in your accounts actually say about the business, how they feed into the rest of your company’s obligations, and where supporting information may be needed. Because eligibility for the micro-entities regime depends on more than simply being a small company, the sensible starting point is a conversation about your turnover, balance sheet total, employee numbers and any rules or exclusions that might affect you. From there, we can help you decide whether FRS 105 Micro Entity Accounts are the right route for your Sudbury company, or whether a different framework would be more suitable.

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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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   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

FRS 105 Explained: What the Micro-Entities Regime Means for Your Sudbury Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities, and it sits alongside the micro-entities regime set out in company law. In simple terms, the regime is a simpler option for very small companies: if a company qualifies for it and chooses to apply it, the accounts are prepared under FRS 105 rather than under a more detailed standard such as FRS 102. The idea is that the financial statements should be straightforward and proportionate, focusing on the information that genuinely matters for a company of this size. Because FRS 105 operates within a simplified framework, there are fewer accounting policy choices and fewer disclosures than you would see in fuller accounts, which is precisely why it appeals to many owner-managed businesses in Sudbury. It is important to be clear on two points, though. First, the micro-entities regime is an available accounting regime for qualifying companies — it is a choice, not an automatic label. Second, FRS 105 applies when that regime is used; if a company does not qualify, or decides not to apply it, another framework will apply instead. Understanding which regime you are using, and why, makes the accounts easier to read and easier to rely on when you are making decisions about the business.

Who Can Use FRS 105 in the UK? Eligibility for the Micro-Entities Regime

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it — qualification and choice are two separate things, and both need to be present for FRS 105 accounts to be prepared. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 conditions are the headline test, but they are not the entire story. Other eligibility rules and exclusions can apply, and some companies are not able to use the regime regardless of their size. Meeting the size thresholds alone therefore does not guarantee eligibility, and the criteria should always be checked against your company’s particular circumstances, including its legal form, what it does and how it is structured. For businesses in Sudbury and the surrounding area, the practical approach is to review your figures and your company’s position together, confirm whether the micro-entities regime is available to you, and then decide whether FRS 105 Micro Entity Accounts are the right choice for your 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 Sudbury Businesses

Preparing FRS 105 Micro Entity Accounts well means starting from accurate financial records and then applying the reporting requirements that are relevant to your company. In practice that involves reviewing your bookkeeping, bank and expense information, sales and purchase records, asset and liability balances and any other supporting detail, then building a set of financial statements that presents your position consistently under the micro-entities framework. Because FRS 105 accounts are shorter than many business owners expect, the value of professional preparation lies in getting the detail right behind the scenes: confirming that the figures reconcile, that the accounting treatment is appropriate, and that the accounts are internally consistent. It is also worth separating out the different obligations a small company has. Preparing the financial statements, filing accounts with Companies House and dealing with Corporation Tax are distinct activities — a CT600 is a separate Corporation Tax filing submitted to HMRC, and a Confirmation Statement is a separate Companies House filing again. Keeping those clearly divided helps avoid confusion and keeps your company’s records in good order. We work from the information you provide and prepare your FRS 105 Micro Entity Accounts in line with the framework and the reporting requirements that apply to your circumstances, keeping you informed about what has been done and what you need to do next.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Sudbury

If your Sudbury company is considering the micro-entities regime, or you simply want your year-end accounts prepared properly under FRS 105, the next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, roughly how it has performed and what records you already keep — and we can assess whether FRS 105 Micro Entity Accounts look like the right fit for your circumstances. It also helps to know whether you have any existing accounts, what accounting framework has been used previously, and whether there are any changes in the business that might affect how the figures should be presented. There is no obligation and no jargon to wade through; we will explain your options clearly, outline what information we need from you, and set out how the process works, including clear, transparent pricing and fixed-fee options where they are available. Contact us to discuss your FRS 105 Micro Entity Accounts requirements and get a clear answer on the best way forward for your company.

─── 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 companies using the micro-entities regime. It is a simplified framework, allowing for shorter financial statements with fewer disclosures and fewer accounting policy choices than fuller standards. It applies when a qualifying company chooses to apply the micro-entities regime to its accounts.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and choose to apply it. Qualifying is not just about being small in a general sense — the company has to meet the size conditions in the applicable rules, and certain types of company are excluded. Companies that do not qualify, or that qualify but decide not to use the regime, prepare accounts under a different framework instead.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a requirement. A company that qualifies may choose to apply it and prepare FRS 105 accounts, or it may decide that a different framework is more appropriate for its situation — for example where the owners, lenders or investors want more detailed information. The choice should be made with the company's circumstances in mind.

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 the 3 applicable size conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those size conditions is a starting point rather than the whole answer, as further rules and exclusions can apply, and the criteria should always be checked against your company's specific position.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they suit different sizes and types of company. FRS 105 is the micro-entities framework and is deliberately streamlined, with a narrower set of measurement and disclosure requirements. FRS 102 is a fuller standard used by many larger or more complex companies, and it generally involves more detailed accounting treatments and disclosures. Which one applies depends on whether your company qualifies for the micro-entities regime and chooses to use it.

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

Preparing accounts under FRS 105 and filing them with Companies House are two related but separate steps. If your company is required to file accounts, the accounts prepared under the applicable framework — including FRS 105 where the micro-entities regime is used — are what get submitted, in the required format, within the statutory filing deadline for your company. Filing accounts is separate from your Corporation Tax obligations.

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

Yes, they are separate. FRS 105 relates to the accounting and financial reporting framework used to prepare your company's financial statements. A CT600 is a Corporation Tax Return submitted to HMRC, and it is based on the company's tax position rather than being a copy of the accounts. A Confirmation Statement is a further, separate Companies House filing. Keeping these obligations distinct helps you stay on top of what is due and when.

What information is needed to prepare FRS 105 accounts?

Broadly, we need a complete picture of the company's financial activity for the period: bookkeeping or accounting records, bank statements and reconciliations, sales and purchase information, details of any assets and liabilities, expense records with supporting documentation, and information about share capital, directors and any loans. If accounts have been prepared previously, those are useful too. The better the records, the smoother the process of preparing your FRS 105 Micro Entity Accounts.