─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Totton Southampton

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. In Totton Southampton, many small limited companies find that this regime offers a simpler, more proportionate way to prepare and present their annual financial statements, because FRS 105 is built specifically around the disclosure needs of the smallest businesses. That said, applying the regime is a choice, and it is only available where the company meets the relevant eligibility conditions and is not caught by any of the associated rules or exclusions. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s own circumstances — reflecting the trading activity, assets, liabilities and transactions that actually exist — rather than being fitted to a generic template. It also helps you keep the accounts, the Companies House filing and your separate Corporation Tax position clearly distinguished, so you always know which document does what.

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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: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written for micro-entities. The UK micro-entities regime allows qualifying companies to prepare accounts on a simplified basis, and FRS 105 is the standard that applies when a company chooses to use that regime. In plain terms, this means the accounts present a straightforward picture of the company’s position: a balance sheet showing what the company owns and owes, a profit and loss account showing income and expenditure, and a small set of notes. Because FRS 105 is designed around the smallest companies, the disclosure requirements are considerably lighter than under a fuller reporting framework, and the measurement rules are deliberately simple. FRS 105 Micro Entity Accounts are still real statutory accounts — they must be prepared from accurate records and give a true and fair view in line with the regime’s requirements. What changes is the volume and complexity of the detail required, not the underlying need for the figures to be right. For directors in Totton Southampton running a small limited company, understanding this distinction is often the first step towards deciding whether the micro-entities regime suits how their business operates.

Who Can Use FRS 105 in the UK?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and decide to apply it. Size is the main test. 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. Meeting those conditions is necessary but not always sufficient — other eligibility rules and exclusions can apply, and some companies are prevented from using the regime for reasons unrelated to their size. It also matters that the regime is a choice: a qualifying company that prefers fuller disclosure, or that needs to report in a way the micro-entities regime does not permit, may reasonably decide against it. For directors in Totton Southampton, the practical approach is to look at the company’s actual figures and circumstances, confirm which conditions are met, check whether any exclusion applies, and only then decide whether FRS 105 Micro Entity Accounts are the right fit for the year.

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

FRS 105 Micro Entity Accounts should be prepared directly from your company’s financial records and in line with the reporting requirements that apply to your circumstances. In practice, that means working through your bookkeeping, bank statements, sales and purchase records, asset purchases, loans and any other transactions for the period, then translating them into statutory financial statements that follow the FRS 105 format. A professional preparer will typically start by checking whether the micro-entities regime is actually available to your company, confirm that the accounts are built on the correct figures, and make sure the balance sheet and profit and loss account agree to the underlying records. It is important to keep the different filing strands separate: the FRS 105 Micro Entity Accounts are prepared for the members and filed with Companies House, while your Corporation Tax Return (CT600) is a distinct submission made to HMRC, and your Confirmation Statement is a further, separate filing. Preparing one does not automatically satisfy the others, and each has its own content and timing considerations. For companies in Totton Southampton, having the accounts prepared carefully for the company’s real circumstances — rather than assumed or copy-pasted — is what makes them genuinely useful to directors, lenders and anyone else who needs to understand the figures.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Totton Southampton

If you are weighing up whether the micro-entities regime is right for your company, or you simply want your FRS 105 Micro Entity Accounts prepared properly and without the last-minute scramble, get in touch to talk through your requirements. It helps to have a few things to hand: your latest statutory accounts if there are any, a trial balance or bookkeeping records for the period, bank statements, details of any assets, loans or directors’ balances, and a note of anything unusual that happened during the year. From there, your circumstances can be assessed and you can be given a clear view of what is involved, including straightforward, transparent pricing and the information still needed from you. Whether you are a newly incorporated company in Totton Southampton preparing a first set of accounts or an established micro-entity looking for a smoother annual process, a short conversation is usually the quickest way to establish where you stand and what happens next.

─── 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 in simple terms?

FRS 105 is the UK financial reporting standard for micro-entities. It sets out how a qualifying company that has chosen to apply the micro-entities regime prepares its annual financial statements — typically a simple balance sheet, a profit and loss account and minimal notes. It is a real statutory reporting framework, just a deliberately simplified one intended for the smallest companies.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying is the starting point, not the whole story: certain company types and circumstances are excluded from the regime regardless of size, so a company can meet the size conditions and still not be eligible. Eligibility should therefore be checked against your specific situation rather than assumed.

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 may choose to apply it, but it can also report under a fuller framework. The decision usually comes down to what the directors want from the accounts, who relies on them, and whether any lender, investor or group arrangement expects a different level of detail.

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. These are the size conditions only — other rules and exclusions can still apply, so meeting 2 of 3 does not automatically mean the regime is available.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the micro-entities standard and carries much lighter disclosure and simplified measurement requirements. FRS 102 is a broader standard used by a far wider range of companies, including those reporting under the small companies regime and larger entities, and it generally requires more detailed disclosures and more involved accounting treatments.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Where a company prepares accounts under the micro-entities regime, those accounts form the basis of its annual accounts filing with Companies House, subject to the filing requirements that apply to the company. Filing accounts is a separate obligation from filing a Corporation Tax Return with HMRC, and both need to be dealt with for the relevant period. The accounts themselves are prepared for the members as well as filed.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes — they are two different documents serving two different purposes. The FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities reporting framework and filed with Companies House. The CT600 is a Corporation Tax Return submitted separately to HMRC to report the company's taxable profits and calculate what tax is due. The figures in the accounts usually inform the tax return, but completing one does not complete the other, and a Confirmation Statement is a third, separate filing.

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

In most cases you will be asked for your bookkeeping records or a trial balance for the period, bank statements covering the same period, details of sales and purchases, information on any fixed assets bought or sold, and records of loans, directors' balances and other liabilities. Opening balances or prior year accounts are helpful, as is a note of anything unusual — a one-off transaction, a change in activity, or a new source of income. The cleaner and more complete the records, the more straightforward the preparation tends to be.