─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Washington

If your company is a qualifying micro-entity and you have chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework for your annual financial statements. FRS 105 is the UK accounting standard written specifically for eligible micro-entities, and it allows for a simpler, more concise set of accounts than the standards used by larger companies. For directors in Washington, the appeal is straightforward: financial statements that reflect the size and nature of a small business without unnecessary complexity, while still being prepared on a proper accounting basis. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s particular circumstances — the trading activity, the assets and liabilities on the balance sheet, the accounting records available, and the disclosures the standard requires. It also helps to keep the accounts internally consistent and aligned with the information you will report elsewhere, so that the figures you file tell one coherent story about your business. Because eligibility for the micro-entities regime depends on meeting the relevant size conditions and on no exclusions applying, the starting point is always a conversation about your company rather than an assumption that FRS 105 will fit.

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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 Regime in Plain English

FRS 105 is one of the financial reporting standards that make up UK GAAP, and it exists for one purpose: to give qualifying micro-entities a simpler way to prepare their annual accounts. It sits alongside the UK’s micro-entities regime, which is the set of company law rules that allows very small companies to prepare and file reduced financial statements. In practice, the two work together — a company qualifies for the micro-entities regime under company law, and if it decides to use that regime, FRS 105 is the accounting standard it applies when preparing its financial statements. The result is a shorter, more straightforward set of accounts. FRS 105 generally works on a historical cost basis, so there is no revaluing of assets or measuring them at fair value, and the disclosure requirements are considerably lighter than those for larger companies. What you still get is a proper profit and loss account and balance sheet that present the company’s position, along with a small number of notes where the standard requires them. It is worth being clear about one point: applying the micro-entities regime is a choice, not an automatic consequence of being small. A company that qualifies may still decide to prepare accounts under a different standard, and that decision can affect how the accounts look and what they are able to show. For directors in Washington weighing up their options, understanding FRS 105 in these terms is the right place to start.

Who Can Use FRS 105 in the UK? A Guide for Washington Companies

FRS 105 is designed for companies that qualify for the UK’s micro-entities regime and choose to apply it. Qualification is a two-stage question. The first stage is size. 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. The second stage is everything else — the additional rules and exclusions that sit around the regime. Certain types of entity are excluded from the micro-entities regime regardless of how small they are, and there are further conditions that can affect whether a particular company is eligible in a given period. The practical consequence is that meeting the size thresholds does not, on its own, guarantee that FRS 105 is available to you. It is also worth remembering that the regime is optional. A qualifying company can decide not to use it and to prepare its accounts under a different standard instead. If you are a director in Washington trying to work out where your company stands, the sensible approach is to look at your turnover, balance sheet position and headcount across the relevant periods together with your company’s structure and activities, then decide on the framework before the accounts are prepared.

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 are built from your company’s financial records and prepared in line with the applicable reporting requirements for the micro-entities regime. In practical terms, that means taking the bookkeeping, bank records, invoices, payroll information and asset details you hold, and turning them into a set of financial statements that present the company’s income, expenses, assets and liabilities in the format the standard expects. Because micro-entity accounts are deliberately concise, the accuracy of the underlying records matters even more — there are fewer places for a misposting to hide. Preparation of the financial statements and the filing of those accounts with Companies House are dealt with as one piece of work, but they are distinct from your Corporation Tax position. A Corporation Tax Return (CT600) is a separate submission made to HMRC, calculated from the company’s taxable profits rather than simply copied from the accounts, and it follows its own rules and its own deadline. Keeping those two obligations clearly separated helps avoid confusion and helps ensure that what you file at Companies House and what you report to HMRC are each correct on their own terms. Our role is to prepare your FRS 105 Micro Entity Accounts carefully and to explain the figures, so that you understand what has been reported and why.

ICAEW

ACCA

AAT

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

If you would like help with your FRS 105 Micro Entity Accounts in Washington, the best next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting records, your year end and whether you have prepared micro-entity accounts before, and we can talk through how FRS 105 applies to your circumstances and what the preparation work involves. If you are unsure whether your company qualifies for the micro-entities regime, or whether FRS 105 is the right framework for you compared with the alternatives, bring that question along too — it is far better answered before the accounts are prepared than after. We keep our pricing clear and transparent, with fixed-fee options available, so you know where you stand. Get in touch with the details you have to hand and we will take it from there.

─── 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 forms part of UK GAAP and is written specifically for companies that qualify for the micro-entities regime and choose to apply it. Compared with the standards used by larger companies, FRS 105 is simpler: it generally works on a historical cost basis, does not allow fair value measurement or revaluation of assets, and requires far fewer disclosures. The output is still a proper set of financial statements — typically a profit and loss account, a balance sheet and a small number of supporting notes.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the micro-entities regime and decide to apply it. Qualification depends on meeting the relevant size conditions, and it also depends on no other eligibility rule or exclusion applying to the company. Some entities are excluded from the regime altogether, and certain company types cannot use it regardless of their size. Meeting the size thresholds on their own does not automatically mean a company is eligible, which is why it is sensible to check your position against the current rules before committing to the framework.

Is FRS 105 compulsory for every micro-entity?

No. Applying the micro-entities regime is an option, not an obligation. A company that qualifies as a micro-entity can choose to prepare its accounts under FRS 105, but it may instead prepare them under another standard it is entitled to use, such as FRS 102 Section 1A for small companies. The choice can affect how figures are measured and what is disclosed, so it is worth thinking about which framework best suits your business rather than simply defaulting to the smallest available option.

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 during the period. These are size tests rather than a complete definition of eligibility — other rules and exclusions can apply, and the position can depend on the company's structure and activities. If your company sits close to any of these thresholds, it is worth reviewing the position carefully before deciding which framework to use.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entity standard: it generally requires historical cost accounting, prohibits fair value measurement and revaluation, and keeps disclosures to a minimum. FRS 102 is a broader standard, and Section 1A of it sets out the reduced disclosure regime for small companies that are not micro-entities — it allows more measurement options and requires more disclosure. In short, FRS 105 is the leaner framework, while FRS 102 Section 1A offers more flexibility in how certain items are measured.

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

Micro-entity accounts are part of a company's annual accounts, and annual accounts are filed with Companies House. So yes, if you prepare FRS 105 Micro Entity Accounts, those accounts are the ones that go to Companies House at your filing date. Filing the accounts is a separate exercise from working out and submitting your Corporation Tax Return to HMRC, even though both draw on the same underlying records. Filing methods and requirements do change from time to time, so it is worth confirming the current position for your filing period.

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

Yes, they are two distinct deliverables. FRS 105 accounts are your financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, and it is calculated using tax rules — with adjustments for items such as disallowable expenses and capital allowances — rather than being a straight copy of the accounting figures. The two should be consistent with each other, but they serve different purposes, go to different bodies, and follow different rules.

What information is needed to prepare FRS 105 accounts?

As a starting point, you will need a complete record of the period's income and expenses, together with bank and credit card statements covering the whole accounting period. It also helps to have details of any assets the company owns, amounts owed to and by the company at the year end, any loans or director's loan account movements, payroll and pension information, and the previous year's accounts if there are comparatives to be shown. If your bookkeeping is already up to date, preparation is considerably smoother. If it is not, that is something we can talk through as part of the work.