─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Westfield

FRS 105 Micro Entity Accounts give qualifying companies in Westfield a clear, streamlined way to prepare and report their annual financial statements. FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime: it applies when a company both qualifies as a micro-entity and chooses to adopt that regime for its accounts. Not every small company qualifies automatically, and the decision is not simply about being small — the eligibility rules, the applicable size conditions and certain exclusions all need to be considered before a company commits to this approach. Professional preparation helps you work through those points properly. It means your figures are drawn from your accounting records, presented in line with the micro-entities regime, and supported by the disclosures that FRS 105 requires (which are fewer than under other frameworks), so the resulting FRS 105 financial statements reflect your company’s actual circumstances rather than a one-size-fits-all template.

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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 Reporting Framework

In simple terms, FRS 105 is the accounting standard that a qualifying company uses when it decides to report under the UK micro-entities regime. The regime exists to reduce the reporting burden on the smallest companies, and FRS 105 is the framework written specifically for it — so the two go hand in hand. If a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the standard it follows. Under FRS 105, the financial statements tend to be simpler than those prepared under FRS 102: there is generally less fair value measurement, fewer judgements around estimates, and a shorter set of notes. What you still get is a proper set of accounts — a balance sheet, a profit and loss account and the supporting notes required by the standard — built from the company’s own bookkeeping and records. Because the framework is narrower in scope, it suits straightforward trading companies with uncomplicated transactions, but it is not automatically the right answer for everyone. Eligibility depends on meeting the applicable size conditions and on none of the relevant exclusions applying, and choosing the micro-entities regime is a decision the company makes rather than a default. That is why it pays to look at the numbers and the company’s structure before deciding.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it in preparing their financial statements. Eligibility is not purely a matter of size. 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. Alongside those conditions, a number of other eligibility rules and exclusions can apply — for example, certain types of company or entity are not able to use the regime whatever their size, and the rules differ in some circumstances, such as where a company is part of a group or where its accounts are prepared on a particular basis. Meeting the size conditions therefore does not automatically guarantee that a company can use FRS 105, and a company that does qualify is still free to choose a different framework. The practical answer for companies in Westfield is to check eligibility against the rules as they apply to your own company and period before deciding, rather than assuming that being small is enough.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your records: your bookkeeping, bank transactions, sales and purchase information, asset and liability balances, and any director’s loan or intercompany items. From that base, the accounts are built in line with FRS 105 and the micro-entities regime, with the balance sheet, profit and loss account and required notes prepared to reflect what actually happened in the period. One important distinction to keep clear is that the accounts and the tax filing are separate exercises. Preparing and filing the financial statements with Companies House is one thing; submitting a Corporation Tax Return (CT600) to HMRC is another, with its own rules, adjustments and deadlines. Similarly, a Confirmation Statement is a separate filing entirely and does not replace accounts or a tax return. Sensible preparation therefore joins up the accounting work with the wider filing picture, so the figures used across the accounts and the tax return are consistent and the reasoning behind them is documented. Good preparation also means the accounts are checked against the applicable reporting requirements before submission, and any areas of uncertainty — such as whether a particular item is treated correctly under the micro-entities regime — are raised with you rather than glossed over. No accountant can guarantee a particular filing outcome, but careful, well-evidenced work gives you accounts that genuinely represent your company’s position and stand up to scrutiny.

ICAEW

ACCA

AAT

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

If you are considering FRS 105 Micro Entity Accounts for your company in Westfield, the first step is a conversation about your circumstances. Tell us about your company, your trading activity and the period you need accounts for, and share the records you already have — bookkeeping, bank statements, invoices, payroll information and details of any assets, loans or balances carried forward. We will look at whether the micro-entities regime appears to be available to you, explain what FRS 105 would mean for your financial statements, and set out what is involved in preparing and filing them. If it turns out that another reporting framework or route is more suitable, we will say so. Get in touch to discuss your requirements and find out how we can help you get your accounts prepared on a clear, straightforward basis.

─── 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 the smallest qualifying companies prepare their financial statements, and it is deliberately simpler than the fuller standards used by larger businesses — with fewer measurement complications and a shorter set of required notes. It is the accounting framework, not a tax rule and not a filing service in itself.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is about meeting the applicable size conditions for the period in question, and also about none of the relevant exclusions applying to your company. Because both parts matter, it is worth checking your position rather than assuming you are in or out based on size alone.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force you to use it. A company that qualifies can generally choose to apply the regime and therefore FRS 105, or it can report under a different framework such as FRS 102. In practice the choice often comes down to how straightforward the company's transactions are and whether the reduced disclosure is genuinely useful for its circumstances.

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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those conditions does not guarantee eligibility on its own — other rules and exclusions can apply, and the position should be reviewed for your specific company.

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 the micro-entities framework: it is narrower, generally simpler to apply, and requires fewer disclosures. FRS 102 is the standard used by most other companies, with more detailed recognition, measurement and disclosure requirements. If a company does not qualify for, or does not choose, the micro-entities regime, FRS 102 is typically the framework it uses.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts normally form the basis of what is filed at Companies House for that period, alongside any other filings the company is required to make. Filing obligations depend on the company and the period, so it is worth confirming exactly what needs to go in and when rather than relying on general assumptions.

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

Yes, they are separate. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which starts from the company's profit figure but applies tax rules and adjustments that do not appear in the accounts. A Confirmation Statement is a further, separate filing and does not replace either.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll details if you employ staff, and details of assets, liabilities, loans, director's loan balances and amounts carried forward from the previous year. The cleaner and more complete the records, the more straightforward the preparation tends to be, and anything unclear can usually be resolved by asking rather than guessing.