─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Walden

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplest financial reporting framework available to qualifying UK companies. FRS 105 itself is the standard that applies when a company qualifies for that regime and chooses to use it, and it allows for streamlined financial statements with reduced disclosure compared with larger reporting frameworks. For directors in Walden running a small limited company, professional preparation can help make sure the accounts are put together appropriately for the company’s own circumstances — its trading activity, its accounting records, the transactions it has entered into and the reporting requirements that apply to it. Not every small company will qualify, and eligibility depends on meeting the relevant size conditions as well as any applicable exclusions, so it is worth reviewing your position rather than assuming the regime applies. Working with someone who deals with FRS 105 Micro Entity Accounts regularly means the figures are presented clearly, the disclosure requirements of the framework are considered, and the accounts are ready for the company’s filing and record-keeping 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  
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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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   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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 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 the UK financial reporting standard designed for micro-entities — the smallest companies within the UK’s micro-entities regime. In simple terms, it is the rulebook that sets out how a qualifying company’s financial statements should look, what they must include, and what can be left out. The idea behind it is straightforward: smaller businesses should not have to produce the same volume of notes, disclosures and accounting adjustments as much larger companies, so FRS 105 keeps things short and focused on historical cost information, with a simpler balance sheet and a smaller set of notes. Importantly, FRS 105 is not something a company is automatically placed into. A company must first qualify for the micro-entities regime, and then its directors can choose to apply that regime — at which point FRS 105 sets the reporting framework for the accounts. If a company does not qualify, or the directors decide against it, a different framework such as FRS 102 would normally apply instead. Understanding which framework applies is the starting point for preparing FRS 105 Micro Entity Accounts correctly.

Who Can Use FRS 105 in the UK? Eligibility for Walden Companies

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. 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 during the period. Those conditions are the starting point, not the whole test. Other eligibility rules and exclusions can apply, and certain types of company may be unable to use the micro-entities regime even where the size conditions are met. Meeting the thresholds therefore does not guarantee eligibility on its own, and a company that is eligible is still not obliged to use the regime — it can choose a different framework instead. For directors of small companies in Walden, the practical approach is to check the company’s turnover, balance sheet total and employee numbers against the applicable conditions, consider whether any exclusions are relevant, and then decide whether FRS 105 Micro Entity Accounts are the right fit for the business.

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 for Walden Companies

Preparing FRS 105 Micro Entity Accounts properly starts with good information: accurate bookkeeping, supporting documents for income and expenses, details of assets and liabilities, and a clear picture of what the company has done during the period. From there, the accounts are built in line with the micro-entities regime and the recognition and measurement rules that apply under FRS 105, with the balance sheet and any required notes presented in the format the framework expects. It is also important to keep the different obligations separate. The financial statements prepared under FRS 105 are one thing; filing those accounts with Companies House is a separate step; and the Corporation Tax Return (CT600) is a different filing altogether, submitted to HMRC rather than Companies House. A Confirmation Statement is a further, separate Companies House filing and is not part of the accounts. Professional preparation of FRS 105 Micro Entity Accounts can help ensure the figures are consistent, the disclosures reflect the framework, and the directors have a clear set of financial statements to review before anything is filed. It does not guarantee any particular filing outcome, and responsibility for the accounts and the filings rests with the company and its directors.

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ACCA

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Get Expert Help With Your FRS 105 Micro Entity Accounts in Walden

If you run a small limited company in Walden and want to understand whether the micro-entities regime is right for you, the sensible next step is a straightforward conversation about your circumstances. Tell us about your company — what it does, how it is structured, how it has traded during the period, and what records you already keep — and we can look at whether FRS 105 Micro Entity Accounts appear suitable and what information would be needed to prepare them. Whether you are preparing accounts for the first time, moving from another framework, or simply want your existing accounts reviewed before they are finalised, we can talk through the options and explain the process in plain English. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and find out what is involved.

─── 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 exactly are FRS 105 Micro Entity Accounts?

They are the financial statements a qualifying micro-entity prepares under FRS 105, the UK reporting standard that sits within the micro-entities regime. Compared with larger reporting frameworks, FRS 105 keeps the statements short and simple: typically a balance sheet, a small number of notes, and the information the framework requires, with reduced disclosure and no need for some of the more complex accounting adjustments found elsewhere. The exact contents depend on the company's circumstances and what it has reported.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime and choosing to apply it are two separate things. A company that is eligible may use the regime, but it is a choice available to the directors rather than an automatic requirement. A qualifying company could instead prepare its accounts under a different framework such as FRS 102. FRS 105 applies when the micro-entities regime is the regime that has been chosen.

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. Meeting those size conditions is not the whole picture, however — certain rules and exclusions can prevent a company from using the regime regardless of its size, so eligibility should always be checked against the company's specific situation rather than assumed.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting framework used by a much wider range of companies. It involves more detailed disclosures, a broader range of accounting treatments and more extensive note requirements. FRS 105 is deliberately stripped back for micro-entities, focusing on simpler, historical cost based reporting with far fewer notes. In practice, the choice affects how the accounts look and how much disclosure is included, so it is worth considering which framework suits the company before the accounts are prepared.

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

Accounts prepared under FRS 105 are still company accounts, and a company that is required to file accounts with Companies House will normally need to file them, using the format and filing route that applies to it. The accounting framework used and the filing obligation are separate matters: FRS 105 determines how the financial statements are prepared, while Companies House filing requirements determine what must be delivered and by when. Companies House does not approve or endorse the accounts, and directors remain responsible for what is filed.

Is a Corporation Tax Return (CT600) the same as FRS 105 Micro Entity Accounts?

No, they are different things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's tax position, and it is a separate filing to a separate authority. Companies House accounts filing, the CT600, and the Confirmation Statement are all distinct obligations, even where the figures in them are related and need to be consistent with one another.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime if it qualifies and the directors choose to apply it — being new does not automatically rule it in or out. Eligibility still depends on the applicable size conditions and any relevant exclusions, and a first set of accounts may raise questions about how the period is treated. It is worth looking at the company's position in its first period rather than assuming the regime will apply simply because the business is small.

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

As a starting point, you would normally need complete records of income and expenses for the period, bank and loan statements, details of any assets the company owns or uses, information on amounts owed to and by the company, and records supporting any director's loan or shareholder transactions. Share capital details, previous accounts and any relevant agreements are also helpful. The exact information depends on the company's activities, and having tidy records in advance generally makes the preparation process smoother and less time-consuming for everyone involved.