─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in West Wickham

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to apply the UK micro-entities regime. For many small companies in West Wickham, FRS 105 offers a simplified and proportionate approach to preparing annual financial statements, with a reduced set of disclosure requirements compared with larger reporting frameworks. Professional preparation helps ensure those accounts are built up properly from your underlying financial records and reflect your company’s own circumstances, activities and transactions rather than a generic template. It also helps keep the accounts internally consistent, so that the figures, notes and presentation align with the micro-entity rules you have chosen to apply, and it supports a clearer separation between preparing statutory accounts and dealing with separate obligations such as Corporation Tax and confirmation statement filings.

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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.
  
 
      Posted on Google  
   
   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.
  
 
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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.
  
 
      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: The Micro-Entities Regime in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. If your company qualifies for the micro-entities regime and you choose to apply it, FRS 105 is the standard you use to prepare your annual financial statements. In plain terms, it allows a qualifying company to produce a simpler set of accounts, typically with a shorter balance sheet, a simpler profit and loss account and far fewer notes than would be needed under FRS 102. FRS 105 also works alongside specific legal rules about what micro-entity accounts must contain and how they are presented. The important point is that the micro-entities regime is a choice available to qualifying companies, not something that is imposed automatically. If you decide the regime suits your company, FRS 105 applies to the accounts you prepare; if you decide it does not, a different framework will be relevant. Getting that decision right at the outset makes the whole annual reporting process more straightforward, which is why many West Wickham directors take advice before preparing FRS 105 Micro Entity Accounts.

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

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Eligibility is not simply a case of being a small company — specific size conditions and other rules apply. 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. Beyond the size conditions, certain entity types and circumstances can be excluded from the regime altogether, and the position can change from year to year as a company grows or its activity changes. That means a company that met the conditions in one period may not meet them in the next, and vice versa. If your company is based in West Wickham and you are considering FRS 105 Micro Entity Accounts, it is worth confirming both that you qualify and that the micro-entities regime genuinely suits how you want your accounts to look before preparing them on that basis.

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

Accurate financial reporting starts with good records. When preparing FRS 105 Micro Entity Accounts, the work is based on your company’s financial records — bank statements, sales and purchase information, expense records, payroll details where relevant, and any asset or liability information — together with the reporting requirements that apply to a micro-entity. The preparation process brings those records into a set of financial statements presented in line with FRS 105, including the balance sheet, the profit and loss account and the limited notes required. It is worth being clear about what sits where: preparing and filing your accounts at Companies House is one exercise, while a Corporation Tax Return (CT600) is a separate submission made to HMRC, and a confirmation statement is another separate Companies House filing altogether. Keeping these distinct helps you understand which deadlines and disclosures relate to which filing, and it reduces the risk of confusion when your year end comes around.

ICAEW

ACCA

AAT

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

If you are ready to sort out your FRS 105 Micro Entity Accounts, the next step is a straightforward conversation. Tell us about your company, your accounting period, the nature of your income and expenditure, and whether the micro-entities regime looks like the right fit for your circumstances. Sharing your financial records, along with any previous accounts or filings, gives us the information needed to assess your position and explain how the work would be approached. Whether you are preparing micro-entity accounts for the first time, switching approach, or simply want a second pair of eyes on the figures, we are happy to talk through your requirements and outline clear, transparent pricing for the work involved.

─── 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 chooses to apply the micro-entities regime prepares its annual financial statements. It is a simplified framework, with reduced disclosure requirements compared with FRS 102, and it is designed to be proportionate for very small companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then 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, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not automatically guarantee eligibility.

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, in which case FRS 105 is the standard used for its financial statements. A qualifying company may instead report under a different framework, so the decision is one to weigh up based on the company's circumstances and the needs of those who use its accounts.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller UK financial reporting standard that applies more widely, including to many small and medium-sized companies. FRS 105 is narrower in scope — it is only for qualifying micro-entities that choose the micro-entities regime — and it permits a more streamlined set of financial statements with significantly fewer disclosures. In practice, that means simpler accounts and less note detail, which is why it appeals to very small companies.

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

Accounts prepared under FRS 105 still form part of your company's annual statutory accounts, and companies generally file accounts at Companies House. The exact format and content of what is filed depends on the rules in force for your accounting period and on the company's circumstances, so it is worth checking the position for your specific year end rather than assuming one approach fits every case.

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-entity reporting framework, while a CT600 is a Corporation Tax Return submitted separately to HMRC. They draw on the same underlying financial information, but they are distinct filings with distinct requirements. Preparing the accounts does not by itself deal with your Corporation Tax obligations, and the two should be planned for together.

Can a new limited company use FRS 105?

A company in its first accounting period can potentially qualify for the micro-entities regime, but eligibility depends on the applicable rules and whether the company meets the relevant size conditions. It is not automatic simply because the company is new or small in its first year. Reviewing the position before you prepare your first set of accounts is a sensible step.

What information is needed to prepare FRS 105 accounts?

Typically you would provide bank statements and records of income and expenditure, details of any assets and liabilities, payroll or employee information where relevant, and details of any loans, directors' balances or share capital movements. Previous accounts, filings and accounting records are also helpful. Having these organised before preparation begins makes the process smoother and helps the figures reflect your actual trading activity.