─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wallington

If your company is a qualifying micro-entity and you choose to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework you will use. FRS 105 is the UK accounting standard written specifically for the smallest companies, and it produces simpler, shorter financial statements than the fuller reporting frameworks. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are built correctly from your records, reflect your company’s actual circumstances, and are presented in a way that is consistent with the standard and with the information you are required to file at Companies House. It also helps you keep clear boundaries between your accounts, your Corporation Tax position and your other company filing obligations. For businesses in Wallington and the surrounding area, we can talk you through the regime, check your eligibility position and prepare FRS 105 Micro Entity Accounts that are tailored to your company rather than copied from a template.

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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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 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. 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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 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 financial reporting standard that applies to UK companies using the micro-entities regime. In simple terms, the micro-entities regime is a lighter accounting framework available to the smallest companies, and FRS 105 is the standard that those companies follow when they decide to use it. FRS 105 financial statements are deliberately pared back: they typically include a simpler balance sheet, a simpler profit and loss account and reduced disclosure notes compared with the fuller standards. The idea is that the reporting should be proportionate to the size and complexity of a genuinely small business, so directors can produce meaningful accounts without the volume of notes and detail a larger company would need. Two points are worth being clear about. First, the regime is a choice — a company that qualifies does not have to use it. Second, it is the qualifying company that applies the regime; FRS 105 applies because the micro-entities regime has been chosen, not simply because a company is small. For directors in Wallington weighing up FRS 105 Micro Entity Accounts, understanding both points is the starting place for a sensible decision.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Qualifying is a two-part idea: the company has to fall within the size conditions, and it must not be caught by one of the rules or exclusions that take a company outside the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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 not, on its own, a guarantee of eligibility, and some companies are excluded from the regime regardless of size. Choosing the regime is then a decision for the directors, and FRS 105 applies once that decision is made. For companies in Wallington, we can work through the tests with you and explain what using FRS 105 Micro Entity Accounts would mean for your reporting.

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 with Accurate Financial Reporting

FRS 105 Micro Entity Accounts are prepared from your company’s accounting records — bank transactions, sales and purchase information, payroll details, asset and liability records, and the adjustments needed to bring those records to a set of financial statements. Our role is to work through that information, apply the recognition and measurement approach set out in FRS 105, and prepare financial statements that present your company’s position clearly and consistently. Where the accounts are to be filed at Companies House, the preparation of the financial statements and the act of filing are separate steps, and we can handle both. It is also important to keep FRS 105 Micro Entity Accounts distinct from your Corporation Tax Return (CT600): the accounts are the financial statements prepared under the micro-entities regime, while the CT600 is a separate Corporation Tax filing submitted to HMRC, with figures that are derived from the accounts but not identical to them. Nothing here should be read as a guarantee that a filing will be accepted or that a tax outcome will follow; it is a description of how FRS 105 Micro Entity Accounts are prepared and reported for companies that qualify and choose the regime.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Wallington

If you would like to discuss your FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps if you can share your year-end date, the nature and scale of your trading activity, your current accounting records, and any existing accounts or filing history you have. From there we can look at whether the micro-entities regime appears to be available to your company, explain what applying FRS 105 would mean in practice, and set out how the work would be handled and how our fees are structured. We will be straightforward about what we need from you, what we can prepare, and where your responsibilities as a director begin and end.

─── 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 companies using the micro-entities regime. It sets out how qualifying micro-entity companies prepare their financial statements, and it is deliberately simpler than the fuller standards, with a reduced set of disclosures designed to be proportionate to a very small company.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting the size conditions is not the whole test, because other rules and exclusions can apply, so eligibility should be checked against your company's specific circumstances 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 can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer a fuller framework such as FRS 102, for example because a lender, investor or group parent wants more detail, or because they simply want more disclosure in their financial statements.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main financial reporting standard for UK companies that are not using the micro-entities regime, and it applies to a far wider range of businesses. FRS 105 sits below it in terms of complexity: it offers a simpler presentation and a much smaller set of disclosure requirements. FRS 102 also allows accounting policy choices that FRS 105 does not, so the two frameworks can produce different figures and different-looking accounts for the same company.

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

For a company that prepares FRS 105 Micro Entity Accounts for its statutory financial year, those accounts are generally the ones filed at Companies House, subject to the filing requirements that apply to your company. Preparing the accounts and filing them are separate steps, and a company can also be required to file other documents, such as a Confirmation Statement, which is not part of the accounts.

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

Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, while the CT600 is a separate Corporation Tax Return submitted to HMRC. The CT600 is built on figures that start from the accounts but is adjusted for tax purposes, so the taxable profit on a return will often differ from the accounting profit shown in the financial statements.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 in its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. In practice, a first period is often shorter or longer than twelve months, and the size conditions are assessed on the applicable period, while other eligibility rules and exclusions still need to be considered. It is worth reviewing this before the first set of accounts is prepared.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or transaction records for the period, bank and credit card statements, sales and purchase information, payroll and director-related records, details of assets and liabilities including any loans, plus stock or work-in-progress information where relevant. If accounts have been prepared before, copies of the previous year's figures help with consistency, and details of any changes in the business during the period are useful context.

What changes are coming to micro-entity accounts filing?

The size conditions attached to the micro-entities regime were updated for accounting periods beginning on or after 6 April 2025, which is why turnover, balance sheet total and employee numbers should be checked against the current rules rather than older figures. Alongside that, Companies House filing methods and requirements continue to develop, including a shift towards digital filing routes. Because the detail matters and continues to move, it is worth confirming the current position for your company's specific period before you file.