─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Suton: Clear, Straightforward Financial Reporting

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplified reporting framework available to qualifying UK companies. For many small companies in Suton, it offers a route to accounts that are shorter, easier to read and less burdensome to prepare than those produced under a fuller reporting standard. FRS 105 provides the accounting framework that applies when a qualifying company chooses to use the micro-entities regime, covering how transactions are recognised and measured and what must be disclosed. Professional preparation can help ensure those accounts are put together appropriately for your company’s particular circumstances, that the figures reconcile to your underlying records, and that the resulting financial statements are consistent with the basis of preparation you have adopted. Whether you are preparing accounts for the first time, moving across from another framework or simply want a second pair of eyes on your year-end position, we can talk you through how FRS 105 Micro Entity Accounts work in practice and what they mean for your company.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

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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 the Micro-Entities Regime Means for Your Company

In simple terms, FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits within UK GAAP and sets out how a qualifying company’s financial statements should be prepared when it chooses to apply the micro-entities regime. The thinking behind it is straightforward: smaller companies should not have to carry the same reporting weight as larger ones, so FRS 105 keeps measurement simpler and the disclosure requirements much lighter than those in fuller standards. A typical set of FRS 105 Micro Entity Accounts will include a balance sheet, notes to the accounts and, in many cases, a profit and loss account for the company’s own records even where a shorter version is filed publicly. The standard is deliberately restrictive about measurement, so more complex treatments such as revaluation or fair value accounting generally are not available under it. It is worth being clear that the micro-entities regime is an option rather than an automatic entitlement: a company must qualify, and then choose to apply it, and FRS 105 applies when that choice is made. If you are unsure whether FRS 105 suits your company in Suton, a short conversation is usually enough to establish where you stand.

Who Can Use FRS 105 in the UK? Eligibility for Suton Companies

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. Two things therefore have to line up: the company must meet the applicable eligibility conditions for the period, and it must decide to use the regime rather than a fuller reporting framework. 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. Meeting those size conditions is not on its own a guarantee of eligibility, because additional rules and exclusions can apply, and certain companies are prevented from using the regime regardless of their size. Eligibility is assessed for each accounting period, so a company that qualified last year is not automatically entitled to apply the regime this year if its figures have moved. If your company in Suton is close to any of the thresholds, or if your circumstances have changed, it is worth reviewing your position before the accounts are prepared so that the right framework is used and the basis of preparation is documented properly.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records. We work from the bookkeeping, bank transactions, invoices, payroll information and asset details you provide, then build the financial statements on the basis of preparation that applies to your company and the micro-entities regime. That means looking carefully at how items such as fixed assets, debtors, creditors and accruals are treated, checking that the balance sheet and profit and loss account agree with one another, and making sure the notes reflect your company’s actual position rather than a template. It is important to keep two separate obligations in view: the preparation and filing of financial statements with Companies House, and the company’s Corporation Tax obligations, which are dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC. Accounts prepared under FRS 105 feed into the tax position, but they are not the same thing as the CT600, and neither replaces the other. The same applies to the Confirmation Statement, which is a distinct filing. Our role is to prepare your FRS 105 Micro Entity Accounts accurately and to keep the financial reporting aspects of your company’s filings clearly separated in your mind, so you always know what is being filed, where and why.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your company’s circumstances. Tell us about your trading activity, your accounting period, the records you keep and how your accounts have been prepared previously, and we can give you a clear view of how the micro-entities regime would apply to you and what would be involved in preparing your financial statements. Where you have an existing accountant, we are happy to pick things up from your current year-end position. If you are unsure whether your company qualifies for the regime, bring along a summary of your turnover, balance sheet total and employee numbers and we can work through the eligibility conditions with you. Pricing is kept clear and transparent, with fixed-fee options available so you know where you stand before work begins. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 financial reporting standard within UK GAAP that is written specifically for micro-entities. It sets out the rules a qualifying company follows when preparing its financial statements under the micro-entities regime, covering how transactions are recognised and measured and what has to be disclosed. Its main characteristics are simplified measurement and significantly reduced disclosure compared with fuller reporting standards, which makes the resulting accounts shorter and more straightforward for a small company and its readers.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not simply a matter of being small: the company must meet the applicable size conditions and must not fall within any of the rules or exclusions that prevent a company from being treated as a micro-entity. Because eligibility depends on the company's own circumstances and on the accounting period in question, it is worth checking the position for your specific year rather than assuming 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 qualifies can choose to apply it, and if it does, FRS 105 is the standard it uses. Qualifying companies may instead prepare their accounts under a fuller framework where that is permitted and more appropriate for their circumstances. The choice can affect how much detail appears in the accounts and which accounting treatments are available, so it is usually worth considering alongside your plans for the business before deciding.

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 following 3 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 are the size conditions, and there are further rules and exclusions that can affect whether a company actually qualifies. Earlier accounting periods are governed by the thresholds that applied at the time, so the period you are preparing accounts for matters.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a broader financial reporting standard that applies to a much wider range of companies and offers more measurement options alongside more extensive disclosure requirements. FRS 105 is the micro-entities standard: it is narrower in scope, restricts the company to simpler measurement bases, and requires far fewer notes. In practice, the difference shows up in the length and complexity of the accounts, and in the range of accounting treatments available to you. Choosing between them is not simply a matter of preference, because eligibility and the rules of each regime both come into play.

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

In most cases, a company preparing FRS 105 Micro Entity Accounts will file financial statements with Companies House, although certain companies are exempt from filing or file different material. The accounts filed are prepared under the micro-entities regime and may be presented in a shortened form depending on the options available to your company. Filing accounts with Companies House is separate from the company's other obligations, such as the Confirmation Statement, and each has its own filing requirements and deadlines.

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

Yes, they are separate filings. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and generally filed with Companies House. A Corporation Tax Return, known as a CT600, is a tax filing submitted to HMRC, and the figures in your accounts normally form the starting point for the tax computation that accompanies it. Preparing the accounts does not discharge the CT600 obligation, and submitting a CT600 does not satisfy the accounts filing requirement, so both need to be dealt with.

What information is needed to prepare FRS 105 accounts?

We generally need a complete picture of the accounting period: bookkeeping or accounting software records, bank statements, sales invoices and purchase receipts, payroll and employee details, details of any loans or finance agreements, fixed asset purchases and disposals, stock or work in progress figures, and any accruals or prepayments. If your company has been trading for several years, a copy of the previous year's accounts is helpful as a comparison. Having these records together before work begins makes the preparation of FRS 105 Micro Entity Accounts smoother and reduces the number of queries raised along the way.