─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in West Wycombe

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime. For a company based in or around West Wycombe, FRS 105 Micro Entity Accounts offer a streamlined route to producing financial statements that reflect the simpler reporting basis the regime allows, rather than the fuller disclosure requirements of other standards. Professional preparation helps ensure those accounts are put together appropriately for your company’s particular circumstances — the nature of its income and costs, how its records have been kept, the accounting policies that suit it and the disclosure requirements that apply to a micro-entity. It also helps to keep the accounts, the Confirmation Statement and the separate Corporation Tax position clearly distinguished, so nothing is overlooked. Eligibility is not automatic: a company needs to qualify for the micro-entities regime and then choose to apply it, and the size conditions and any exclusions should always be checked before the accounts are prepared.

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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.
  
 
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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.
  
 
      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 Reporting Framework Behind Micro-Entity Accounts

In simple terms, FRS 105 is the UK financial reporting standard written for the micro-entities regime. The micro-entities regime is an accounting framework that qualifying companies may choose to use — it is not something that applies to every small company by default. FRS 105 is the standard that applies when a company has qualified for that regime and has decided to use it. Practically, it means the financial statements are prepared on a simpler basis: a short balance sheet prepared on a historical cost footing, limited notes, and considerably less disclosure than larger companies must provide. It is designed so that a very small business can present a clear, consistent picture of what it owns, what it owes and what it is worth without a lengthy set of notes. Because the standard is deliberately pared back, it is important to confirm that it genuinely fits the company’s situation — a business with more complex transactions, group relationships or revalued assets may find another framework more suitable. If you are looking for FRS 105 Micro Entity Accounts in West Wycombe, the starting point is a straightforward review of eligibility and of what the company actually needs from its financial statements.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is a two-part test: the company must fall within the size limits, and it must not be caught by any of the rules or exclusions that take a company outside the regime. 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. Some companies are excluded regardless of their size, and certain entities — including some groups and companies with particular activities — cannot use the regime at all. Meeting the size thresholds therefore does not, on its own, guarantee that FRS 105 is available or appropriate. If your company is based in or near West Wycombe and you are considering FRS 105 Micro Entity Accounts, the sensible approach is to review your figures, your structure and your activities together before committing to the framework.

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

Well-prepared FRS 105 Micro Entity Accounts start with the company’s own financial records. Bank statements, sales invoices, purchase invoices, expense receipts, payroll information, loan and lease agreements, asset purchases and details of any amounts owed to or by the company all feed into the balance sheet and the supporting notes. From there, the accounts are built up using the measurement and disclosure requirements that apply to the micro-entities regime, with accounting policies chosen to suit the business and applied consistently from one period to the next. It is helpful to treat two things as genuinely separate pieces of work: preparing the financial statements themselves, and filing the accounts with Companies House. A Corporation Tax Return (CT600) is a third, separate exercise submitted to HMRC, even though the figures are related. Keeping these strands clearly separated reduces the risk of confusion, missing information or an assumption that one filing covers another. The aim of professional preparation is financial reporting that is accurate, internally consistent and appropriate to the company’s circumstances, with the reasoning behind the figures documented so it can be explained if questions arise.

ICAEW

ACCA

AAT

Discuss Your FRS 105 Micro Entity Accounts in West Wycombe With Us

If you would like help with FRS 105 Micro Entity Accounts, the most useful first step is a conversation about your company and where it stands. Tell us what the business does, when your accounting period begins and ends, how your records are currently kept and whether the accounts are being prepared for Companies House filing, for your own understanding of the numbers, or both. It helps to know about any changes during the period — new equipment, a loan, a change in the way you pay yourself, or a decision to move across from a different reporting framework. With that information, we can assess whether the micro-entities regime looks suitable, explain what is involved in preparing FRS 105 financial statements, and set out clearly what we need from you and how our fees are structured. There is no obligation, and no assumption that FRS 105 will be the right answer for every company.

─── 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 using the micro-entities regime. It sets out how a qualifying micro-entity prepares its financial statements, including how items are measured and what information must be disclosed by way of notes. It is deliberately shorter and simpler than the standards used by larger companies, and it is built around a historical cost basis rather than fair value or revaluation.

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 apply, so meeting those size conditions does not by itself guarantee that a company qualifies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than an automatic requirement. A company that qualifies can choose to apply it, but it may instead prepare its accounts under a different framework if that better suits its circumstances. What matters is that the choice is made deliberately, that the company does in fact qualify, and that the accounts are prepared consistently on the basis selected.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider UK financial reporting standard and covers a much broader range of transactions, measurement options and disclosures, including fair value accounting and revaluation. FRS 105 is a stripped-back standard for qualifying micro-entities, with fewer measurement choices and far less disclosure. Accounts prepared under FRS 105 will generally be shorter and less detailed, which suits very small companies but offers less scope to present more complex arrangements.

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

If a company is required to file annual accounts, the accounts it prepares — including accounts prepared under FRS 105 — are the ones filed with Companies House within the statutory deadline that applies to that company. Filing accounts is a separate obligation from submitting a Corporation Tax Return to HMRC, and it is also separate from the Confirmation Statement. Preparing the accounts and filing them are two distinct steps, even though the same figures are usually involved.

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

Yes. FRS 105 accounts are the financial statements that report the company's position and performance under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. The two are related because they draw on the same underlying records, but they are different documents, prepared for different purposes and sent to different bodies.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. Because there is no trading history to measure against, eligibility is usually assessed on the expected level of activity for that first period, and any relevant exclusions still need to be checked. It is worth confirming the position early, as it affects how the first set of financial statements is prepared.

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

Typically, we need the company's accounting records for the period: bank and credit card statements, sales and purchase invoices, expense receipts, payroll or director payment details, details of loans and hire purchase agreements, information on assets bought or sold, and the previous year's accounts where they exist. Company details such as the registered name, company number and period dates are also required. If records are incomplete, we can discuss the most practical way to bring them up to date before the accounts are prepared.

Are there changes coming to micro-entity accounts filing?

Companies House filing requirements have been under reform, with a move towards accounts being filed in a structured software format and proposals to require more information within small and micro-entity accounts. The detail and timing of these changes can develop over time, and the practical effect depends on your company's circumstances. It is sensible to confirm the current position before preparing and filing, rather than assuming last year's approach still applies.