─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Totton

If you run a small limited company in Totton and you are looking at the simplest available way to report your figures, FRS 105 Micro Entity Accounts are likely to be the framework you want to understand. FRS 105 is the financial reporting standard that applies to qualifying micro-entities which choose to apply the UK micro-entities regime — it is not an automatic label that every small company receives, and eligibility depends on the company’s size conditions and whether any exclusions apply. We help directors and owners work through what their company’s circumstances actually mean for reporting, then prepare FRS 105 Micro Entity Accounts that reflect the company’s financial records, the applicable reporting requirements and the disclosures the chosen framework expects. We can also help you see how those accounts sit alongside your other obligations, such as filing with Companies House and dealing with Corporation Tax separately through a CT600. The aim is straightforward: accounts that are prepared on a consistent basis, explained in plain English, and easy for you to review before anything is submitted.

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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.

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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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 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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 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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 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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 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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 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. 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is one of the financial reporting standards used in the UK, and it exists specifically for the smallest companies. It is tied directly to the micro-entities regime: where a company qualifies as a micro-entity and chooses to apply that regime, FRS 105 is the standard used to prepare its financial statements. In practical terms, FRS 105 takes a simpler approach than the fuller standards used by larger companies. The financial statements are typically built around a concise balance sheet, a small number of notes, and a simplified view of the company’s position, with certain fair value and more complex measurement approaches generally not used. That simplicity can be attractive, but it is a choice rather than a requirement. A qualifying company may instead use another standard such as FRS 102, and some companies will not qualify for the micro-entities regime at all. Where FRS 105 is applied, the accounts still need to be prepared properly and consistently, because they form part of the company’s statutory reporting and are usually filed at Companies House. Understanding which regime applies to you — and why — is the starting point for getting the figures right.

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 — so the question is really two questions: do you qualify, and do you want to use it? Size is the starting point. 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 size tests, however, is not the end of the assessment. Other eligibility rules and exclusions can apply, and certain entities are not able to use the micro-entities regime at all regardless of their size. There is also a practical dimension: a company that comfortably qualifies today may grow beyond the conditions in a later period, and a company that is eligible may still prefer the fuller reporting of FRS 102 for its own reasons. For companies in Totton considering FRS 105 Micro Entity Accounts, we look at the numbers, the company’s structure and any relevant exclusions before confirming which framework is appropriate, so that the basis you report on is one you have genuinely chosen and can keep applying consistently.

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 in Totton

Accurate financial reporting starts with good records, and it depends on applying the right framework consistently to them. When we prepare FRS 105 Micro Entity Accounts, we work from the company’s bookkeeping, bank records, invoices, expense evidence and any asset and liability information you hold, then build the financial statements in line with the reporting requirements that apply to the chosen regime. Where judgement is needed — for example around what is included in the balance sheet, how items are described, or which notes are relevant — we explain the reasoning so you can see how the numbers were arrived at. It is worth being clear about the different pieces of the jigsaw: the preparation of the financial statements is one task, filing those accounts with Companies House is another, and Corporation Tax is a separate matter dealt with through a CT600 submitted to HMRC. Those processes can be handled together, but they are not the same thing. Our role is to prepare your FRS 105 accounts carefully and to support you through the filing process, while leaving you in a position to understand what has been reported and why.

ICAEW

ACCA

AAT

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

Whether you are preparing FRS 105 Micro Entity Accounts for the first time, moving across from a different reporting framework, or simply want a clearer picture of where your company stands, the sensible next step is a conversation. Tell us about your company — when it started trading, what it does, roughly how it is structured, and what your current bookkeeping looks like — and we can assess your circumstances and explain the options that appear to be available to you. If you already have draft figures or last year’s accounts, sharing those helps us give you a more useful response. There is no obligation and no pressure: we will set out what is involved, how we work, and answer the questions you have about FRS 105 Micro Entity Accounts before you decide anything.

─── 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 a UK financial reporting standard written for the smallest companies. It is the standard that applies when a company qualifies as a micro-entity and chooses to apply the micro-entities regime. It allows for a simplified set of financial statements — typically a concise balance sheet with a limited number of notes — rather than the fuller disclosures required under standards such as FRS 102. It is a genuine accounting framework, not a shortcut around reporting, and the accounts still need to be prepared properly and filed as part of the company's statutory obligations.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are available to companies that qualify for the UK micro-entities regime and then decide to apply it. Qualifying is about size plus the wider rules: a company needs to fall within the applicable size conditions and must not be excluded for another reason — for example certain company types and some entities are not eligible for the regime regardless of how small they are. Because both the size tests and the exclusions matter, it is worth checking your position rather than assuming that being a small company means FRS 105 automatically applies.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime makes FRS 105 available, it does not force it on you. A qualifying company can choose to apply the micro-entities regime — in which case FRS 105 is used — or it can prepare its accounts under a different standard such as FRS 102. There can be good reasons either way, including how much disclosure you are comfortable with, whether lenders or investors have specific expectations, and how the company's transactions are structured. The choice should be made deliberately and applied consistently.

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 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. Meeting those size conditions is not the whole story — other eligibility rules and exclusions can apply, and some companies are kept outside the regime even when they are very small. This is why eligibility should be assessed against the specific facts of your company rather than treated as a simple tick-box exercise.

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 and they produce different accounts. FRS 105 is the micro-entities standard, with a deliberately simplified balance sheet and a small set of notes. FRS 102 is used much more widely and generally requires fuller disclosures and a broader range of accounting treatments and measurement options. In practice, the difference shows up in how much detail appears in the accounts, how certain items are valued, and how much information a reader of the accounts receives. A company that no longer qualifies as a micro-entity, or that chooses to move away from the micro-entities regime, would typically report under FRS 102 instead.

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

Yes — preparing accounts under FRS 105 does not remove the need to file statutory accounts. A company applying the micro-entities regime still has to deliver accounts to Companies House that have been prepared on the correct basis, and it can take advantage of the filing options that go with being a micro-entity. Filing accounts with Companies House is a separate process from dealing with HMRC, and the requirements around how accounts are delivered continue to evolve, so it is worth checking the current position for your filing period before you submit anything.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and usually filed at Companies House. A CT600 is a Corporation Tax Return, which is submitted to HMRC to report the company's taxable profits and work out the tax due. The figures in the accounts often form the starting point for the tax computation, but the tax return has its own rules, adjustments and filing process. Both need attention, and it helps to have them handled with a clear understanding of how they connect.

Can a new limited company use FRS 105?

A newly incorporated company can be eligible for the micro-entities regime if it meets the applicable conditions and is not excluded — being new is not in itself a barrier. In a first period, the practical focus tends to be on getting the bookkeeping organised, correctly identifying assets, liabilities and any shareholder or director transactions, and confirming which framework the company will adopt for its first set of accounts. If you are starting out in Totton and expect to stay small, it is a good idea to settle the reporting basis early so that your records are kept in a way that supports it.