─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Whitchurch

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime for companies that qualify for that regime and choose to apply it. FRS 105 is the UK financial reporting standard written specifically for micro-entities, and it produces a simpler, shorter set of accounts than the standards used by larger companies. If your company is based in Whitchurch and you are unsure whether FRS 105 is the right framework for your circumstances, professional preparation can help you work through the eligibility rules, confirm which framework applies, and build the accounts from your bookkeeping and financial records in a way that reflects your company’s actual activity. It also helps to have the figures presented consistently and the supporting workings kept in good order, because the numbers in your accounts feed into other obligations, such as your Corporation Tax Return, which is a separate filing. Good preparation is about getting the detail right for your company rather than applying 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: What It Means for Your Micro-Entity

FRS 105 is the financial reporting standard that applies when a UK company uses the micro-entities regime. The micro-entities regime is a set of rules that lets the very smallest companies prepare and file simplified accounts, and FRS 105 sets out how those accounts should be put together. In simple terms, it means fewer disclosure notes, a simpler balance sheet, and a more straightforward approach to measuring things such as assets and liabilities than you would find under the standards used by larger companies. It is important to understand that FRS 105 is not automatic and it is not mandatory for every small company: a company first needs to qualify for the micro-entities regime, and then the directors need to choose to apply it. Once that choice is made, FRS 105 is the standard that governs the financial statements. For a company in Whitchurch that qualifies, this can mean a much more proportionate set of accounts, but it also means the figures still need to be accurate, complete and properly supported by records.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Eligibility is based on size, and 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 during the financial year. It is important to be clear that the size conditions are only part of the picture. Other eligibility rules and exclusions apply, and certain companies are unable to use the micro-entities regime at all regardless of how small they are. Group structures, the nature of the company’s activities and its legal form can all affect the position. That is why qualifying is best assessed on the facts of your own company rather than by comparing headline figures, and why companies in Whitchurch considering FRS 105 Micro Entity Accounts often find it useful to talk through their circumstances before committing to a 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

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records: bookkeeping, bank and payment provider statements, sales and purchase records, payroll information, asset purchases and disposals, loan and hire purchase agreements, and any stock or work-in-progress detail. From those records we can build a balance sheet and the supporting figures that sit behind it, applying the measurement and disclosure requirements that go with FRS 105. It is worth separating the different pieces of work involved, because they are not the same thing. Preparing the financial statements is one step. Filing those accounts at Companies House is another step, with its own format and content rules. Dealing with Corporation Tax is a third, separate obligation, because a CT600 is submitted to HMRC and is not part of the accounts themselves. Keeping these strands clear helps avoid confusion and helps ensure nothing is overlooked. We work from the information you provide, explain what is required at each stage, and keep you informed about the choices available to you.

ICAEW

ACCA

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Let's Talk About Your FRS 105 Micro Entity Accounts

If you would like help with your FRS 105 Micro Entity Accounts in Whitchurch, get in touch and tell us a little about your company. It is useful to know your company’s year end, roughly what your turnover, balance sheet total and employee numbers look like, and how your records are currently kept. From there we can talk through whether the micro-entities regime looks suitable for you, what information we would need to prepare the accounts, and how the accounts fit alongside your other filing and tax obligations. There is no need to have everything perfectly organised before you make contact — a short conversation is usually the quickest way to work out what is needed next and to get your questions answered.

─── 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 accounts should be prepared and what needs to be disclosed, allowing a simplified balance sheet and far fewer notes than the standards used by larger companies. It is the accounting framework that a qualifying micro-entity applies once it has chosen to use the micro-entities regime.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is not just about being small: there are size conditions to meet, and there are also rules that exclude certain types of company from the regime regardless of size. Meeting the size conditions does not automatically guarantee eligibility, so it is worth checking your company's specific circumstances before deciding.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an obligation. A qualifying company can choose to apply it, which then means FRS 105 governs the financial statements. Some qualifying companies decide to use a different framework instead, for example because a lender, investor or group arrangement calls for more detailed reporting. The choice belongs to the company, within the rules that apply.

What are the micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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 during the financial year. There are rules and exclusions that sit alongside these figures, so meeting two of the three conditions is not always the end of the story.

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 standard, and it is the most simplified option, with a shorter balance sheet and minimal disclosure. FRS 102 is the standard used by larger small companies and by many medium and large entities, and it allows or requires more detailed measurement and disclosure, such as fair value accounting and deferred tax. Choosing between them depends on eligibility and on what the company needs from its accounts.

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

Yes. Where a company uses the micro-entities regime, its accounts are filed at Companies House in line with the filing requirements that apply to micro-entity accounts. Filing the accounts is a separate step from preparing them, and it is also separate from any Corporation Tax filing. The rules on what micro-entity accounts must include when filed are changing for later financial years, so it is worth confirming the position for your own year end.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits, and it is not part of the accounts. The accounts are usually the starting point for the tax computation, but the filing itself is a separate obligation with its own deadline and submission route.

What changes are coming to micro-entity accounts filing?

The rules on filing accounts at Companies House are being updated. For financial years beginning on or after 6 April 2025, accounts are expected to be filed using software and in a prescribed format, and the options that previously allowed smaller companies to file less information — such as filing without a profit and loss account — are being removed. The way the accounts are prepared under FRS 105 is not fundamentally altered, but what gets filed publicly will be. Because the changes are being introduced over time, it is sensible to confirm what applies to your specific year end before you file.