─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Whitstable: Professionally Prepared Accounts for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts are the annual financial statements prepared under FRS 105, the reporting standard that sits alongside the UK micro-entities regime. If your company qualifies for that regime and chooses to apply it, FRS 105 sets out how the accounts are put together — the balance sheet, the profit and loss account where required, and the supporting notes. For directors in Whitstable running a small trading company, a consultancy or a professional practice, that can mean a shorter, more straightforward set of accounts that still meets the relevant reporting requirements. Because the choice of framework affects the numbers reported, the disclosures given and how the accounts interact with your Corporation Tax position, it is worth having them prepared carefully rather than treating them as a formality. We work from your financial records to prepare FRS 105 Micro Entity Accounts that reflect your company’s own circumstances, and we are happy to discuss whether the micro-entities regime is suitable for you before anything is 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 
    
 
 
 
   
 
 
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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 the Micro-Entities Reporting Framework Means for Your Whitstable Company

In simple terms, FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies covered by the UK’s micro-entities regime. A company that qualifies as a micro-entity can choose to apply that regime, and when it does, FRS 105 becomes the framework used to prepare its annual accounts. The standard is deliberately pared back: it limits the accounting options available, reduces the number of disclosures required and keeps the financial statements short and readable. That makes FRS 105 Micro Entity Accounts attractive to owner-managed companies that want clear, uncomplicated reporting without the extra detail a larger company would normally provide. It is not a free-for-all, though. The reduction in disclosure comes with restrictions on how items can be measured, and the accounts still need to present a true and fair view of the company’s position. Used properly, FRS 105 gives you a clean, consistent set of financial statements that directors, shareholders and lenders can follow, and that supports the rest of your company’s filing obligations.

Who Can Use FRS 105 in the UK? Eligibility, Choices and What It Means for Whitstable Companies

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it — both parts matter. Eligibility is generally assessed against size conditions. For accounting periods beginning on or after 6 April 2025, a company 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 period. The regime also carries its own additional rules and exclusions, and certain types of company are not able to use it, so meeting the size conditions on their own is not a guarantee of eligibility. On top of that, the regime is a choice: a qualifying company can use it, or it can report under a different framework such as FRS 102 Section 1A. If the micro-entities regime is selected, FRS 105 applies to the preparation of those financial statements. For a growing Whitstable company, it is worth reviewing eligibility and the framework choice each year, because the answer can change as turnover, balance sheet totals or headcount move.

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 in Whitstable with Accurate, Well-Supported Financial Reporting

Preparing FRS 105 Micro Entity Accounts professionally starts with your underlying records. We look at your bookkeeping, bank activity, sales and purchase information, payroll, asset purchases, loans and any relevant prior-year figures, then build the financial statements from that evidence in line with FRS 105 and the requirements that apply to your company. That includes getting the presentation right, applying the restricted measurement rules consistently and making sure the notes reflect the disclosures the framework requires. It also means keeping your reporting obligations clearly separated in your mind: the preparation of FRS 105 financial statements and the filing of annual accounts with Companies House sit on one side, while Corporation Tax — reported to HMRC through a Company Tax Return (CT600) — sits on the other, with its own figures, adjustments and deadlines. We can help with both, but they are distinct exercises. Our role is to prepare accounts that are properly supported and appropriate for your circumstances, not to promise a particular outcome or to suggest that any authority reviews or endorses them.

ICAEW

ACCA

AAT

Let's Talk About Your FRS 105 Micro Entity Accounts in Whitstable

If you are a director of a small Whitstable company and want to know whether FRS 105 Micro Entity Accounts are the right fit, the sensible first step is a conversation. Tell us about your company, what it does, roughly how it has traded and what you have already filed, and we can talk through whether the micro-entities regime looks suitable, what the alternative would be and what preparing the accounts would involve. Have your records to hand — bank statements, invoices, payroll details, loan and asset information, plus last year’s accounts if you have them — as that helps us give you a genuinely useful view rather than a guess. We also offer clear, transparent pricing, so you know where you stand on cost before work begins. Get in touch and we can go from there.

─── 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 is the most simplified framework available for UK companies: it restricts the accounting treatments that can be used, removes a number of optional treatments and reduces the notes that have to be given. The result is a short, straightforward set of financial statements that still has to show a true and fair view. FRS 105 applies when a qualifying company chooses to use the micro-entities regime — it is not a separate filing or a tax return.

Who can use FRS 105?

FRS 105 is available to UK companies that qualify as micro-entities and that choose to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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 period. Other rules and exclusions also apply, and some types of company cannot use the regime at all, so meeting the size tests does not automatically mean FRS 105 is available to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A company that qualifies can choose it, and if it does, FRS 105 is the framework that applies. A qualifying company could instead prepare its accounts under another framework, such as FRS 102 Section 1A for small entities, which allows more accounting options and requires more disclosure. The right choice depends on your circumstances — who uses the accounts, whether you need valuations, fair value or deferred tax treatments, and any group or lender requirements.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the applicable size conditions are 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. A company generally has to meet at least 2 of those 3 conditions. That is only part of the picture: the rules include additional conditions and certain exclusions, and the position can change as your company grows. Different thresholds applied to earlier accounting periods, so the period you are reporting on matters.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the micro-entities standard and is deliberately minimal — restricted measurement options and fewer disclosures. FRS 102 is the wider standard, and Section 1A of it covers small entities; it permits more accounting treatments, such as certain revaluations and fair value measurements, and requires more detailed notes. If your company qualifies for the micro-entities regime, choosing FRS 105 makes for a shorter set of accounts, but you may find FRS 102 Section 1A more appropriate if you need those extra options.

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

Yes — annual accounts generally have to be filed with Companies House, and where a company prepares micro-entity accounts under FRS 105, those are the accounts that get filed. The accounts are also normally sent to the company's members and are used as the starting point for the company's tax position. Filing formats and options for small and micro-entity companies have been changing, with a move towards filing accounts in software-based, structured formats, so it is worth checking the current requirements for the period you are filing rather than relying on how it was done in previous years.

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

Yes, they are different things. FRS 105 Micro Entity Accounts are financial statements prepared under an accounting framework and filed with Companies House. A CT600 is a Company Tax Return submitted to HMRC to report Corporation Tax, and it is prepared using figures from your accounts but with its own adjustments and its own filing deadline. Preparing one does not automatically complete the other, and the amounts shown can differ. It is worth keeping both in view so that nothing is missed.

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

We need enough to build a complete picture of the company's trading and position for the period. In practice that usually means bank statements and reconciliations, sales and purchase records, expense and receipt information, payroll details, asset purchases and disposals, stock or work in progress figures where relevant, details of loans and the director's loan account, share capital information and a copy of the previous year's accounts. If you use accounting software, giving us access is often the simplest route. It also helps to confirm early whether the company qualifies for the micro-entities regime for that period.