─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in West Molesey

FRS 105 Micro Entity Accounts are the annual financial statements prepared under the micro-entities regime for UK companies that both qualify for it and choose to apply it. If your company is based in West Molesey and you are weighing up how best to report your results, we can help you work through what the regime involves and whether it suits your circumstances. FRS 105 offers a simplified reporting framework, but it still requires carefully prepared financial statements that reflect your company’s transactions accurately and consistently. Professional preparation helps ensure the figures are built up properly from your accounting records, that the presentation is appropriate for a micro-entity, and that the accounts are ready to support your wider filing and tax obligations. Whether you are trading as a small limited company in West Molesey, have recently incorporated, or are reviewing your existing reporting approach, the starting point is always an honest look at your eligibility and what you actually need from your accounts.

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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 Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it sets out a simplified way of preparing statutory financial statements, with a lighter set of disclosure requirements than the standards used by larger companies. It sits alongside the UK micro-entities regime: a company that qualifies as a micro-entity may choose to apply that regime, and where that choice is made, FRS 105 is the standard used to prepare the accounts. Choosing the regime is a decision, not an automatic outcome, and the company still has to prepare accounts that are complete, accurate and properly presented. Under FRS 105, assets and liabilities are generally measured on a historical cost basis, and the accounts typically include a simple balance sheet, a profit and loss account and a small number of notes. Because the disclosures are reduced, the resulting FRS 105 accounts can be more straightforward to read and to prepare, while still giving a true picture of the company’s financial position for the period. If you run a small limited company in West Molesey, understanding this framework is the first step towards deciding whether it is the right fit for how you report.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Size is the starting point. 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. Earlier accounting periods are governed by different thresholds, so the period you are reporting on matters. Meeting those size conditions is not on its own a guarantee of eligibility. Other rules and exclusions can apply, and certain companies are outside the regime regardless of how small they are. There is also a separate decision to make: even where a company qualifies, applying the micro-entities regime is a choice, and FRS 105 applies when that choice is made. For directors of small companies in West Molesey, the practical approach is to check eligibility against the rules for the specific accounting period and then consider whether FRS 105 Micro Entity Accounts suit how you report, borrow and plan.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts professionally means working from your company’s financial records — bank transactions, sales invoices, purchase records, payroll information and any asset or liability details — and turning them into financial statements that follow the applicable reporting requirements for a company applying the micro-entities regime. We focus on getting the detail right: correct treatment of income and expenses, sensible balance sheet figures, and a presentation that is consistent from one period to the next. It is also worth keeping the different filing obligations clearly separated in your mind. The statutory accounts themselves are prepared for the members and, where required, filed at Companies House, while Corporation Tax is dealt with separately through a Company Tax Return (CT600) submitted to HMRC. Meeting one obligation does not automatically satisfy the other, and the figures used can differ because the two serve different purposes. We can help you prepare FRS 105 accounts that are appropriate for your company’s circumstances and support you with the related filings, while being clear about what each step involves and where further information is needed from you.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in West Molesey

If you would like support with your FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting records and how you have reported previously, and we can talk through whether the micro-entities regime looks like a sensible option for you and what preparing your FRS 105 accounts would involve. Bringing together your bookkeeping, bank statements, invoice records and any relevant details about what the company owns and owes gives us what we need to assess your position properly. Whether your year end is approaching, you are catching up on overdue accounts, or you are simply planning ahead, we are happy to explain the process clearly and help you decide how to move forward.

─── 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 provides a simplified framework for preparing statutory financial statements, with reduced disclosure requirements and measurement generally based on historical cost. A company that qualifies for the micro-entities regime and chooses to apply it prepares its accounts under FRS 105. The result is a shorter, more straightforward set of financial statements than would otherwise be required.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and decide to apply the micro-entities regime. Qualification depends on meeting the applicable size conditions and on not being excluded by other rules — for example, certain company types and circumstances fall outside the regime regardless of size. It is not simply a matter of being small; the company must satisfy the eligibility rules and then actively choose to use the regime for that accounting period.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. Applying the regime is a choice, and if a company does not choose it, the accounts are prepared under a different financial reporting standard instead. Some companies prefer the fuller disclosures of another framework because of lender requirements, investor expectations or the way their group is structured, so this is a decision worth taking deliberately rather than by default.

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. Meeting the size conditions is not the whole story — other eligibility rules and exclusions can apply, and different figures apply for earlier accounting periods. Eligibility should always be checked against the rules in force for the specific period.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is designed for qualifying micro-entities that choose the micro-entities regime and offers simpler measurement and far fewer disclosures. FRS 102 is the standard used more broadly, including by many small and medium-sized companies, and it generally requires more detailed accounting treatments and note disclosures. Choosing between them affects how the accounts look, not the underlying need to report your results accurately.

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

Statutory accounts prepared under FRS 105 will typically need to be filed at Companies House where the company is required to file annual accounts, though the exact filing requirements depend on the company and the options available to it. Filing accounts at Companies House is separate from your tax filing obligations, and the two are handled through different routes. If you are unsure what applies to your company, it is worth checking the current guidance or asking us to look at your position.

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

Yes, they are separate obligations. FRS 105 accounts are the statutory financial statements prepared under the micro-entities regime, whereas the CT600 is the Corporation Tax Return submitted to HMRC. The figures are related because the tax return starts from the company's results, but the accounts and the tax return serve different purposes, can include different adjustments, and are filed with different bodies. Preparing one does not automatically complete the other.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 in its first accounting period if it qualifies as a micro-entity and chooses to apply the regime. New companies often start small, but qualification still depends on the eligibility rules for that period rather than on how long the company has been trading. Because first-period accounts can involve specific considerations, it is sensible to confirm the position early rather than assume the regime applies.