─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Thorpe-le-Soken

If your company is based in Thorpe-le-Soken and you believe it may qualify for the UK micro-entities regime, FRS 105 Micro Entity Accounts could be the right reporting framework for you. FRS 105 is the financial reporting standard that applies when a qualifying micro-entity chooses to apply the micro-entities regime — it is a choice available to eligible companies, not something that happens automatically. Because the regime comes with specific recognition, measurement and disclosure requirements, the way your figures are presented can look quite different from accounts prepared under a larger framework. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your financial statements are put together appropriately for your company’s circumstances, with the figures drawn from your own accounting records and presented in line with the applicable reporting requirements. Whether you are filing for the first time, moving across from another framework, or simply want your annual accounts handled with care, we can talk through your position and explain what is involved.

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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: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a very small company prepares its annual accounts when it qualifies for the micro-entities regime and chooses to use it. The standard is deliberately streamlined: it focuses on a simpler, more historical-cost-based approach to preparing financial statements, with fewer disclosure requirements than the larger frameworks. That means shorter accounts, less narrative in the notes, and a reporting pack that is easier to read — while still producing a proper set of financial statements covering the balance sheet, the profit and loss account and the required notes. Two important points are worth remembering. First, the micro-entities regime is an available accounting regime for qualifying companies, so it is a route you can take rather than an obligation. Second, FRS 105 applies when that regime is chosen — if a company does not qualify or decides to report under a different framework, FRS 105 is not the standard it would use. For directors of small companies around Thorpe-le-Soken, understanding which framework applies is often the starting point for getting the annual accounts right.

Who Can Use FRS 105 in the UK? Companies That Qualify and Choose the Micro-Entities Regime

FRS 105 is designed for companies that qualify for the UK micro-entities regime and decide to apply it. Both elements matter: qualification, and then the choice to use the regime. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. For companies in and around Thorpe-le-Soken, that test is usually straightforward to check once the figures for the period are known. However, the size conditions are not the whole story. Further rules and exclusions can apply, and certain companies may be excluded from the regime regardless of their size. Because of this, meeting the thresholds alone does not always mean a company is eligible, nor does eligibility mean the regime must be used. If you are weighing up whether FRS 105 Micro Entity Accounts are the right route for your company, we can review your circumstances and explain what applies.

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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is not simply a case of copying last year’s figures into a template. The accounts need to reflect your company’s actual financial records and be presented in line with the reporting requirements that apply to the micro-entities regime, which is why a careful, methodical approach matters. We work from the information you provide — bank records, sales and purchase records, expense detail, asset information and any other supporting documentation — to build a set of FRS 105 financial statements that reflects your trading position, your assets and liabilities, and the disclosures that are required at micro-entity level. It is also worth keeping two separate processes clearly in mind. Preparing and filing your annual accounts with Companies House is one obligation; submitting a Corporation Tax Return (CT600) to HMRC is a different one, with its own figures and its own deadlines. FRS 105 governs the accounting and financial reporting framework for qualifying micro-entities and does not itself settle your Corporation Tax position. Our role is to help you prepare your FRS 105 Micro Entity Accounts accurately and to keep the accounts preparation and the tax filing distinct so nothing is missed.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Thorpe-le-Soken

If you would like your FRS 105 Micro Entity Accounts handled properly, the best next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting period, what you have already filed and how your records are kept, and we can assess whether the micro-entities regime looks like an appropriate fit for your circumstances. If you are unsure whether FRS 105 applies to you, or you are comparing it with reporting under a larger framework, we can explain the differences and what each would mean in practice. Bring your latest records, any previous accounts and details of your shareholding and company structure if relevant, and we will talk you through the route ahead. Clear, transparent pricing and a calm, practical approach — that is what we aim to give every client.

─── 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 prepares its annual accounts when it chooses to apply the micro-entities regime, covering the balance sheet, the profit and loss account and the required notes. It is a simplified framework, built around a largely historical-cost approach with fewer disclosure requirements than the standards used by larger companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification depends on the size conditions for the accounting period, along with other eligibility rules and exclusions that can apply to certain company types or activities. Meeting the size conditions on their own does not automatically mean a company must — or even can — use FRS 105 in every situation, so it is worth checking your specific position.

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. Other rules and exclusions also apply, so satisfying these conditions is not by itself a guarantee of eligibility — the wider requirements need to be considered as well.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies rather than a mandatory one. A company that qualifies can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies instead report under a different framework, for example where they want more detailed disclosures or where a parent or lender expects a fuller set of accounts.

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. FRS 102 is the mainstream standard, covering a broader range of accounting treatments and a much fuller set of disclosures. FRS 105 is the micro-entities standard: simpler, largely historical-cost based, and considerably shorter. In practice, the difference usually shows up in the level of detail in the notes, the accounting policy choices available, and how certain items are measured.

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

Annual accounts prepared under FRS 105 are generally filed with Companies House in the usual way, alongside any other filings the company is required to make. Filing the accounts and filing a Confirmation Statement are separate obligations with separate deadlines, and neither one replaces the other. The accounts you file should be the same financial statements that are approved by the directors and issued to the company's members.

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

Yes — they are different documents with different purposes and different recipients. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities accounting framework. A CT600 is a Corporation Tax Return submitted to HMRC, which calculates the company's tax position for the period. The figures in the tax return are usually derived from the accounts, but the two are prepared and filed separately, so it is important not to treat one as covering the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but it must still qualify for the micro-entities regime and choose to apply it. In the first period of trading there may be no comparative figures and the accounting period may be longer than twelve months, both of which affect how the accounts are prepared. It is worth reviewing eligibility at the outset so the first set of accounts is built on the right framework.

What information is needed to prepare FRS 105 accounts?

Typically we would ask for your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, details of any assets owned by the company, loan and lease agreements, payroll information where relevant, and details of share capital and any dividends paid. If previous accounts exist, those are helpful too. The aim is to build a complete picture from your records so the FRS 105 financial statements reflect the company's actual position.