─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Watlington

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. For companies in Watlington and the surrounding area, FRS 105 can offer a simpler, more streamlined set of financial statements, with reduced disclosure requirements and a historic cost basis that suits many smaller owner-managed businesses. Professional preparation helps ensure the accounts reflect your company’s own circumstances, that the figures agree with your underlying records, and that the financial statements are presented in a format appropriate to the reporting framework you have chosen. Whether you are filing for the first time, moving across from another framework, or simply want reassurance that your FRS 105 Micro Entity Accounts are put together properly, we can review your position and explain the options in plain English. Eligibility depends on meeting the relevant size conditions and on any applicable exclusions, so we confirm whether FRS 105 is available to your company before work begins rather than assuming it applies.

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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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the UK’s micro-entities regime, a set of accounting rules created for the smallest companies. In simple terms, if your company qualifies as a micro-entity and you decide to apply the micro-entities regime, then FRS 105 is the framework you use to prepare your annual financial statements. Compared with the standards used by larger businesses, FRS 105 is much shorter. It works on a historic cost basis, keeps measurement straightforward, and asks for only a small number of notes to the accounts, which means less time spent on disclosure and a set of accounts that is easier for directors and shareholders to read and understand. Importantly, using FRS 105 is a choice rather than an automatic outcome: a qualifying company can opt into the micro-entities regime, and FRS 105 applies when that regime has been chosen. For many Watlington-based owner-managed companies, that choice is well worth exploring with proper advice.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it. The starting point is size: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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 during the period. However, size is not the only consideration. Other eligibility rules and exclusions can apply, and certain types of company are excluded from the regime altogether, so meeting the size thresholds does not automatically mean FRS 105 is available or appropriate. Eligibility should always be assessed against your company’s own figures and circumstances for the period in question. Where FRS 105 does apply, the result is a shorter, simpler set of financial statements prepared under the micro-entities regime.

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 for Watlington Companies

Preparing FRS 105 Micro Entity Accounts starts with good records. We work from your bookkeeping, bank statements, invoices, payroll information and asset details to build a set of financial statements that reflects your company’s trading and financial position, presented under the micro-entities regime where that regime has been chosen and applies. The accounts themselves — typically a balance sheet, a profit and loss account and a small number of notes — are only one piece of the picture. Filing those accounts at Companies House is a separate step governed by companies legislation, and Corporation Tax is separate again: your company’s tax position is reported to HMRC through a Company Tax Return (CT600), which follows its own rules and computations. We look after the accounts preparation and the filing side, and can work alongside whoever handles your tax affairs, so that each obligation is dealt with on its own terms rather than being treated as though it were the same thing.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts, the best starting point is a conversation. Tell us about your company — how it trades, when your accounting period ends, whether you have previously prepared accounts under a different framework, and how your records are currently kept. With that information we can confirm whether your company is likely to qualify for the micro-entities regime, explain what choosing FRS 105 would mean in practice, and set out clear, transparent pricing for the work involved. If you are unsure whether FRS 105 or another framework suits you better, we can walk through the differences without jargon. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and the information we would need to assess your circumstances.

─── 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 sets out how a qualifying company that has chosen to apply the micro-entities regime should prepare its annual financial statements, including the accounting treatment to use and the limited disclosures required. It is deliberately brief and simple: it uses a historic cost basis, avoids many of the fair value and deferred tax complexities found in other standards, and keeps the notes to the accounts to a minimum. In practice, that means fewer disclosures and a shorter set of accounts for directors to review and sign off.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under UK company law and that choose to apply the micro-entities regime. Meeting the size conditions is the main test, but the rules also contain exclusions — certain types of company are not eligible regardless of size, and there are additional conditions relating to the content of the accounts. Because eligibility depends on your company's specific circumstances and on the accounting period in question, it is worth checking your position rather than assuming either way. We can review this with you before any work starts.

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 and prepare FRS 105 accounts, or it may prepare accounts under a different framework, such as FRS 102 including Section 1A for small entities. The decision usually comes down to which framework best fits the business: FRS 105 keeps things simple and straightforward, while another framework may suit you better if you need accounting or presentation options that FRS 105 does not permit.

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 these 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 during the period. These figures replace the older, lower thresholds. Meeting 2 of the 3 conditions is not the whole story, however — other eligibility rules and exclusions can apply, and the conditions are assessed against your company's own figures, so the position should be confirmed for each period.

What is the difference between FRS 105 and FRS 102?

Both are UK reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard and is the most streamlined option, using historic cost and requiring only minimal disclosures. FRS 102 is the broader standard, with Section 1A providing a lighter regime for small entities; it allows more accounting choices and requires more extensive notes. The difference is not simply a matter of fewer notes — FRS 105 also restricts how certain items are measured and presented, so the accounting itself can produce different figures.

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

Yes. Filing annual accounts at Companies House is a separate legal obligation from choosing a reporting framework, and it applies to companies generally. Preparing accounts under FRS 105 does not remove the filing requirement; it affects how the financial statements are prepared and what they contain. Filing arrangements, including whether a company files full or simpler accounts and the deadlines that apply, are set by companies legislation. We can prepare your FRS 105 Micro Entity Accounts and handle the filing, keeping your statutory filing obligations distinct from your tax obligations.

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

Yes, they are entirely separate. FRS 105 Micro Entity Accounts are your company's financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is a Corporation Tax return submitted to HMRC, which reports the company's taxable profits for a period and is supported by a tax computation. The accounts figures usually feed into that computation, but tax rules differ from accounting rules, so the two documents can — and often do — show different numbers. Filing accounts at Companies House does not satisfy the Corporation Tax requirement, and the reverse is also true.

Can a new limited company use FRS 105?

Possibly, provided it qualifies as a micro-entity and chooses the micro-entities regime. A newly incorporated company's first set of accounts can cover a longer period than twelve months, which affects how the size conditions are measured, so the qualifying position should be checked for that first period specifically. Many new companies start out small enough to fall within the regime, but it is not automatic, and some companies are excluded because of the type of business they carry on. If you are unsure, we can review your first-period position before you settle on a framework.