─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Tilbury — Prepared for Qualifying Micro-Entities

FRS 105 provides the financial reporting framework for qualifying micro-entities in the UK that choose to apply the micro-entities regime. For a business in Tilbury, that means statutory accounts prepared under a simplified framework, with streamlined measurement rules and reduced disclosure compared with the reporting expected of larger companies. Whether your company is a newly incorporated trader, a small family business or a consultant working locally, the accounts still need to reflect the company’s own circumstances accurately — its records, its accounting period, its share capital, its assets and its liabilities. Professional preparation helps ensure the right framework is applied consistently, that the figures agree back to the underlying records, and that the resulting FRS 105 Micro Entity Accounts are suitable both for the company’s members and for the relevant filing requirements. It also gives you a clear opportunity to ask questions about your figures before anything is finalised.

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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: What the Micro-Entities Regime Means for Your Tilbury Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified set of accounting rules, and it applies to companies that qualify for the micro-entities regime and that choose to use it. Where the regime is chosen, FRS 105 sets out how the financial statements are prepared — typically on a historical cost basis, with revaluation and fair value options generally not available, and with a much shorter set of notes than you would see under other frameworks. The purpose is straightforward: a small company should be able to report its financial position honestly without the complexity designed for much larger businesses. For a Tilbury company, that usually means a simpler balance sheet and disclosures that are proportionate to the size and nature of the business, with the accounts still prepared from proper accounting records. Understanding what FRS 105 does and does not allow helps you decide whether it is the right fit.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — qualifying does not force the regime on you, and not every small company will qualify. 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 during the period. Other eligibility rules and exclusions also apply, so satisfying the size tests is not by itself a guarantee that the regime is available or appropriate for your company. Qualifying companies may also be able to use other frameworks, such as FRS 102 Section 1A for small companies, depending on their circumstances.

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 and Accurate Financial Reporting in Tilbury

Preparing FRS 105 Micro Entity Accounts properly means working from your company’s financial records and applying the applicable reporting requirements consistently. In practice, that involves reviewing the accounting records for the period, agreeing bank balances and other control accounts, confirming the treatment of fixed assets, stock, debtors, creditors and directors’ loans, and then drafting the financial statements and notes in the FRS 105 format. The statutory accounts are then filed with Companies House, which is a separate exercise from your Corporation Tax obligations. A CT600 is a Corporation Tax Return submitted to HMRC, and the taxable profit calculated for that return is not always identical to the accounting profit shown in the accounts, so both need to be considered. Working with an accountant who deals with the micro-entities regime regularly helps keep the figures consistent, the disclosures appropriate and the filing ready in good time.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Tilbury

If your company qualifies for the micro-entities regime and you would like your FRS 105 Micro Entity Accounts prepared properly, the next step is a straightforward conversation. Tell us about your business, your accounting period and how you keep your records, and share the information needed to assess your circumstances — bank statements, sales and purchase records, expense details, payroll information, asset purchases, loan or lease agreements, and a summary of any amounts owed to or by the company. We can then explain how the accounts will be prepared, what is required from you and how the different filing obligations fit together. Clear, transparent pricing and a plain-English explanation come as standard, so you know what is happening with your accounts at every stage.

─── 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 is a simplified framework: it applies when a qualifying company chooses to use the micro-entities regime, and it sets out how the accounts are prepared and what has to be disclosed. In most cases the accounts are prepared on a historical cost basis, with revaluation and fair value options generally unavailable and a reduced set of notes compared with other frameworks. The aim is proportionate financial reporting for very small companies.

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 meets the qualifying conditions can generally choose to apply it, and if it does, FRS 105 is the standard it uses. Some qualifying companies instead prepare accounts under another applicable framework, such as FRS 102 Section 1A. What matters is that the framework selected is appropriate for the company and applied consistently from period to period.

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 during the period. Other rules and exclusions also apply — some types of entity cannot use the regime regardless of their size — so it is worth checking your specific position rather than assuming that the size tests alone settle the matter.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the most simplified UK framework and is available only to qualifying micro-entities. FRS 102 is the broader standard; its small-company section, Section 1A, offers reduced disclosures but still permits more accounting options, such as revaluation and fair value measurement in certain circumstances. FRS 105 removes many of those options and does not recognise deferred tax, which keeps the accounts simpler but can mean less flexibility in how figures are presented.

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

FRS 105 Micro Entity Accounts are the company's statutory accounts, so they are generally filed with Companies House for the accounting period, alongside any other filings the company is required to make. Many micro-entity companies have historically been able to file only a balance sheet and notes, but filing requirements for small and micro-entity companies are changing, with profit and loss information being brought into the filed accounts for later periods. Check the position for your own accounting period before you file.

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

Yes. The FRS 105 accounts are the statutory financial statements prepared under the micro-entities regime and, in the normal course, filed at Companies House. A CT600 is a Corporation Tax Return submitted separately to HMRC. The two are connected, because the accounts are usually the starting point for the tax computation, but taxable profit is calculated under tax rules, so adjustments such as disallowable expenses or capital allowances can make the two figures differ.

Can a new limited company use FRS 105?

Possibly, if it qualifies as a micro-entity and chooses the regime. A company in its first period still has to be assessed against the applicable size conditions, and where the first accounting period is longer or shorter than 12 months the turnover condition is usually adjusted proportionately. Certain companies are excluded from the regime regardless of size, so it is sensible to confirm the position before the first set of accounts is prepared.

What information is needed to prepare FRS 105 accounts?

Typically the accounting period dates, bank statements and statements for any other accounts, sales and purchase records, expense receipts, payroll information if the company employs anyone, details of asset purchases and disposals, stock or work-in-progress figures where relevant, loan, lease and hire purchase agreements, details of share capital and any directors' loan movements, plus the previous year's accounts if there are any. Good records keep the process straightforward and reduce queries later.