FRS 105 micro-entity accounts in Whitstable

FRS 105 accounts for Whitstable companies

FRS 105, the Financial Reporting Standard applicable to the Micro-entities Regime, sets the recognition and measurement rules for the smallest companies. It is simpler than FRS 102 Section 1A, which small companies use. Assets and liabilities are generally recorded at historical cost, there is no deferred tax and most disclosure notes fall away.

FRS 105 accounts for Whitstable businesses: local facts

Whitstable is in the Canterbury council area, in the South East region. In Canterbury, 5,160 of the 5,835 VAT- and PAYE-registered businesses in the 2026 ONS count have fewer than ten employees, around 88%. If you run a company in Whitstable, you are in good company.

The largest groups of micro businesses in Canterbury are professional, scientific and technical services (895), construction (860) and wholesale and retail (705). If you work in professional, scientific and technical services in Whitstable, fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised. That puts professional, scientific and technical services at 17% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Whitstable (Canterbury 008) has 440 VAT- or PAYE-registered businesses, and 395 of them (90%) are micro businesses.

Canterbury ranks 691 of the 1105 areas we serve by number of micro businesses, and its micro share of 88% is in line with the 89% average across them. In construction (860 micro businesses in Canterbury), Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. In wholesale and retail (705 micro businesses in Canterbury), closing stock and the VAT treatment of different product lines are the usual pressure points, so we value stock carefully and check your VAT records.