─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Thornton Heath

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies when a qualifying company chooses to adopt the UK micro-entities regime. For many small companies in Thornton Heath, that means shorter, simpler financial statements prepared on a historical cost basis, with far lighter disclosure than larger reporting frameworks demand. Whether it is the right framework for your company depends on your size, your structure and whether the regime is genuinely available to you — it is not automatic, and meeting the size conditions alone does not always mean you qualify. Professional preparation helps ensure the accounts are built properly from your records, reflect your company’s particular circumstances, and are presented in a way that suits both the framework and your filing obligations.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is an optional accounting regime that qualifying companies can choose to apply when preparing their annual financial statements. In plain terms, FRS 105 keeps things simple: accounts are prepared on a historical cost basis, revaluations and fair value adjustments are generally not permitted, and the disclosure requirements are much lighter than those under FRS 102. The result is a shorter, more straightforward set of financial statements, typically a balance sheet, an income statement and a small number of notes. If you run a company in Thornton Heath that qualifies and you decide to use the micro-entities regime, FRS 105 is the standard your accounts are prepared under.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based 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 conditions is not the whole story — other rules and exclusions can apply, and some companies cannot use the regime regardless of their size. A company in Thornton Heath that does qualify still has a choice: the micro-entities regime is an optional accounting framework, and FRS 105 applies when that regime is the one selected. It is worth confirming your position before the accounts are prepared.

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

Accurate FRS 105 Micro Entity Accounts start with accurate records. We prepare your financial statements from the bookkeeping and supporting information you provide, applying the micro-entities regime consistently and presenting the figures in line with the framework’s requirements. That includes pulling together the balance sheet, the income statement and the notes that apply to your company, and checking that the presentation is appropriate for a micro-entity. Filing those accounts with Companies House is one part of the picture; your Corporation Tax Return (CT600) is a separate submission made to HMRC, and it draws on the same underlying figures. Keeping the two distinct while making sure the numbers agree is a practical part of getting your year-end right.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Thornton Heath

If your company may qualify for the micro-entities regime, or you are simply unsure whether FRS 105 is the right fit, we can talk it through with you. Tell us a little about your company — its size, its structure and what it does — and share your records, and we can look at how your FRS 105 Micro Entity Accounts should be prepared and what information we need from you to get started. There is no obligation and no assumptions: eligibility depends on your individual circumstances, and we will set out the options clearly, along with our transparent approach to fees.

─── 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 chooses to apply the micro-entities regime prepares its annual financial statements — normally a balance sheet, an income statement and a limited set of notes. It is deliberately stripped back: accounts are prepared on a historical cost basis, and many of the adjustments and disclosures required under larger frameworks do not apply.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. Other eligibility rules and exclusions can apply, so meeting the size conditions does not automatically mean the regime is available to your company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A qualifying company can choose to apply it, and FRS 105 applies when that choice is made; alternatively, a qualifying company may prepare its accounts under a larger framework such as FRS 102 Section 1A. The trade-off is usually simplicity against flexibility, since FRS 105 offers the shortest set of financial statements but restricts certain accounting treatments.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the smallest and simplest UK reporting framework, designed for micro-entities that choose the micro-entities regime. FRS 102 Section 1A is aimed at small entities and permits more flexibility — for example, revaluation and fair value accounting and deferred tax — but it also requires more disclosures. In short, FRS 105 gives you shorter, less detailed accounts, while FRS 102 gives you more options and a longer set of notes.

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

Yes. A company must file annual accounts with Companies House regardless of which financial reporting framework it uses, and micro-entity accounts are typically filed in a less detailed form. This filing is separate from anything submitted to HMRC. It is also worth checking current Companies House guidance, as the way accounts are filed has been changing, including a move towards filing through compatible software.

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

Yes, they are two different documents. FRS 105 accounts are the statutory financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, and it is based on the company's taxable profits, which normally start from the figures in the accounts but involve tax adjustments. Preparing the accounts does not itself file or settle your Corporation Tax obligations.

Can a new limited company use FRS 105?

It is possible, provided the company qualifies for the micro-entities regime, chooses to apply it and is not caught by any of the relevant exclusions. For a first set of accounts, eligibility is assessed on the basis of the period in question, so newly incorporated companies and companies in their first year of trading should check their position rather than assume it. It is worth confirming this before the accounts are prepared.

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

In practice we need a clear picture of your company's finances for the period. That usually means bookkeeping records or a trial balance, bank statements, sales and purchase records, payroll information, details of any fixed assets, stock figures where relevant, and information on loans, including director's loans. Your previous year's accounts and details of any share capital changes are helpful too. If records are incomplete, we can discuss what is missing and how best to bring things up to date.