─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wembley Park — Straightforward Financial Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts are the financial statements prepared under the financial reporting framework available to companies that qualify for the UK micro-entities regime and choose to apply it. For directors running a small limited company in Wembley Park, that choice can mean genuinely simpler accounts: a shorter balance sheet, a limited set of notes and far less disclosure than other reporting frameworks demand. It is worth being clear from the outset that FRS 105 is not automatic. A company needs to meet the eligibility conditions for the micro-entities regime and then decide — usually with professional input — that the regime is the right fit for its circumstances. Professional preparation of FRS 105 Micro Entity Accounts means working from your bookkeeping records and supporting documents to produce a balance sheet, the required notes and the figures behind them, presented in the way a micro-entity’s accounts should be. It also means checking that the framework has been applied consistently and that the accounts reflect the company’s actual position rather than an assumption about it. If you are a director in Wembley Park wondering whether FRS 105 Micro Entity Accounts suit your company, a short initial conversation is usually the quickest route to a clear answer.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 in Wembley Park

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to prepare its accounts under the micro-entities regime. In plain terms, it is the simplest set of statutory accounting rules available to small UK companies. The accounts are shorter, the notes are restricted to a small number of prescribed disclosures, and certain accounting treatments are simplified or simply not permitted. The micro-entities regime is an optional accounting framework, not a tax regime and not a substitute for any other filing. A company that qualifies for it can decide whether to use it — and if it does, FRS 105 is the standard that governs how the accounts are put together. In practice, the accounts centre on a balance sheet with a limited set of notes, while a profit and loss account is still prepared for the company’s members and for tax purposes even though it does not have to be filed at Companies House. Because the regime is optional, the decision should reflect your company’s size, structure and how the accounts will be used. If you are a director in Wembley Park weighing up whether FRS 105 Micro Entity Accounts are the right fit, a short, jargon-free conversation is often all it takes to decide.

Who Can Use FRS 105 in the UK? Guidance for Wembley Park Companies Considering the Micro-Entities Regime

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and then choose to apply it. Eligibility is largely a question of 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. It is important not to treat those figures as a complete answer. Other eligibility rules and exclusions can apply — some entity types are treated differently, and group situations can affect the position — so satisfying the size conditions does not automatically mean the regime is available to you, and it certainly does not mean you are obliged to use it. If your Wembley Park company looks as though it may qualify, the next step is to confirm the position against the rules for your specific accounting period and decide whether FRS 105 Micro Entity Accounts genuinely suit how your business operates. That is a judgement worth making deliberately rather than by default.

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 Accurate Financial Reporting in Wembley Park

Professionally prepared FRS 105 Micro Entity Accounts are built from your company’s own financial records — bookkeeping entries, bank and credit card statements, sales and purchase documentation, payroll information, and any loan or asset paperwork — and are measured against the reporting requirements that apply to a micro-entity. The work typically involves drafting the balance sheet and supporting notes, reviewing the figures for consistency with the underlying records, and preparing the version of the accounts that supports your Companies House filing. It is important to be clear about what sits where. FRS 105 Micro Entity Accounts are the statutory financial statements. A Corporation Tax Return (CT600) is a separate filing submitted to HMRC, and a Confirmation Statement is another separate filing made to Companies House. The figures in your FRS 105 accounts can inform the numbers used in a CT600, but they are not the same document, they serve different purposes and they have different deadlines. Working with an accountant in Wembley Park who deals with the micro-entities regime regularly helps you present your figures clearly, keep your supporting records in order, and understand which document goes to which body.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Wembley Park

If you run a company in Wembley Park and think the micro-entities regime may be relevant to you, it is worth talking it through before you commit to anything. Tell us a little about your business — your turnover, your balance sheet position, the number of people you employ, how your bookkeeping is kept and what filings you have coming up — and we can help you understand whether FRS 105 Micro Entity Accounts are likely to suit your circumstances and what the work would involve. You can also ask how your accounts sit alongside your Corporation Tax obligations and your Companies House filings, and about clear, transparent pricing for the preparation work. Whether you are preparing accounts for the first time, considering a change of framework, or simply want a second pair of eyes on how your figures are presented, get in touch to start the conversation about your FRS 105 Micro Entity Accounts.

─── 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 that applies to companies preparing their annual accounts under the micro-entities regime. It sets out how the accounts should be measured — for example, it generally keeps things simple by avoiding fair value accounting and not recognising deferred tax — and it limits the notes to a short, prescribed list of disclosures. The result is a much leaner set of financial statements than you would see under frameworks designed for larger companies, with a balance sheet at its centre.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualification is based on the size conditions set out in company law, and other rules and exclusions can also affect whether a company is eligible — for instance, certain types of entity and certain groups are treated differently. Meeting the size conditions on its own does not automatically mean a company must, or can, use FRS 105. Because the regime is optional, the choice also has to be made deliberately.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it and prepare FRS 105 accounts, or it may instead prepare accounts under another framework it is entitled to use, such as FRS 102 — including Section 1A for small entities. Whichever framework is chosen, it should be applied consistently, because switching between frameworks affects the disclosures and the comparability of your figures year on year.

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 size conditions, subject to the relevant rules and exclusions: 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 two or more of these conditions does not on its own guarantee eligibility — other legal requirements and exclusions can apply, and the position needs to be assessed for the specific accounting period in question.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the most streamlined statutory framework, designed specifically for micro-entities, with a short balance sheet and a very limited set of notes. FRS 102 is a fuller framework used by a much wider range of companies, and small companies applying it often use Section 1A, which still requires more disclosure than FRS 105. In practical terms, FRS 105 means less detail in the published accounts, while FRS 102 gives a more expansive picture. The right choice depends on your size, your structure and how your accounts will be used.

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

Where a company has prepared its annual accounts under the micro-entities regime, those accounts form the basis of the statutory accounts filed at Companies House, and they need to be filed within the filing deadline that applies to your company. Filing the accounts is a Company House obligation, while the Corporation Tax Return (CT600) goes to HMRC — the two are separate submissions, even though the figures in the accounts often feed into the tax return.

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

Yes, they are entirely separate. FRS 105 Micro Entity Accounts are the statutory financial statements that report on your company's financial position for the accounting period. A CT600 is the Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. The accounts and the tax return are prepared on different bases, are submitted to different bodies, and follow different deadlines, so preparing one does not discharge your obligations on the other.

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

The usual starting point is a complete set of records for the period: your bookkeeping or trial balance, bank statements, sales and purchase records, payroll information, details of any assets bought or sold, and information about loans, including any director's loan account activity. Prior year accounts are helpful for consistency, and so are details of any significant one-off transactions. The clearer and more complete your records, the more straightforward the preparation process tends to be and the easier it is to answer questions about the figures.