─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wimbledon

If your company qualifies for the UK micro-entities regime and you choose to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework for preparing your annual accounts. FRS 105 is designed for qualifying micro-entities, with simplified recognition and measurement requirements compared with larger reporting frameworks. Professional preparation can help ensure your accounts are put together appropriately for your company’s circumstances, using the financial records you provide and reflecting the applicable reporting requirements. We work with companies across Wimbledon and the surrounding areas, helping owners and directors understand what FRS 105 Micro Entity Accounts involve, how they differ from other filings, and what information is needed to prepare them. Eligibility is not automatic, so we will always consider your company’s size and circumstances before confirming whether the micro-entities regime and FRS 105 are appropriate.

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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 for Wimbledon Micro-Entities

FRS 105 is the UK accounting standard that applies when a qualifying company chooses to use the micro-entities regime. In simple terms, it gives smaller companies a simpler way to prepare their financial statements, with fewer disclosures and simpler measurement rules than larger frameworks such as FRS 102. The micro-entities regime is optional: a company must qualify under the relevant size criteria and then decide to apply it. If the regime is used, FRS 105 sets out how the accounts should be prepared. For directors in Wimbledon running a small limited company, this can mean financial statements that are more straightforward to produce while still meeting the applicable reporting requirements. FRS 105 Micro Entity Accounts are separate from a Corporation Tax Return (CT600) and from a Confirmation Statement, although the accounts may support information used elsewhere.

Who Can Use FRS 105 in the UK? Guidance for Wimbledon Companies

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification depends on the applicable size criteria and other eligibility rules, and the regime is not automatic. 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. These conditions are subject to the relevant rules and exclusions, so meeting the thresholds is not by itself a guarantee that a company qualifies. Some companies are excluded from the regime, and others may simply decide that a different framework suits them better. If your company is based in Wimbledon or nearby, we can help you consider the eligibility position and prepare FRS 105 Micro Entity Accounts where the regime is appropriate.

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 Wimbledon

Professionally prepared FRS 105 Micro Entity Accounts are based on your company’s financial records and the reporting requirements that apply to it. A prepared set of accounts typically includes the financial statements required under FRS 105, such as the balance sheet, and any accompanying notes that the framework requires for a micro-entity. We can also help with the separate step of filing the accounts with Companies House, where applicable, and we keep that process distinct from Corporation Tax obligations. A CT600 Corporation Tax Return is submitted to HMRC separately and is not the same thing as FRS 105 Micro Entity Accounts, even though the figures may overlap. Our role is to prepare the accounts accurately from the information you provide and to help you understand the filing requirements that apply to your company. We do not claim that Companies House or HMRC approves or endorses the accounts, and acceptance of any filing remains a matter for the relevant authority.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Wimbledon

If you need help with FRS 105 Micro Entity Accounts in Wimbledon, get in touch to discuss your company’s circumstances. We can talk through whether the micro-entities regime may be suitable, what information is needed to prepare the accounts, and how the accounts fit alongside your other filing obligations. To assess your position, we will usually need details such as your company’s financial records, trial balance or bookkeeping information, previous accounts, and confirmation of your company’s size and activities. Clear, transparent pricing is available, and we will explain the next steps without pressure. Contact us to start the conversation about your FRS 105 Micro Entity Accounts.

─── 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 for companies that qualify for, and choose to apply, the micro-entities regime. It sets out simplified recognition, measurement and disclosure requirements, allowing qualifying micro-entities to prepare accounts in a more streamlined format than larger standards such as FRS 102. It applies to the preparation of the company's financial statements, and it is separate from Corporation Tax filings and Companies House confirmation requirements.

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is based on the relevant size criteria and other eligibility rules, and meeting the size tests alone does not automatically mean the regime must be used. If a company does not qualify, or chooses not to apply the micro-entities regime, other accounting frameworks may be more appropriate. Professional advice can help confirm the position for your company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option for qualifying companies, not a mandatory requirement for every entity that happens to be small. A company must first qualify under the applicable criteria, and then it can choose whether to apply the regime. If it does, FRS 105 applies to the preparation of its accounts. Some companies may prefer or need to use a different framework depending on their circumstances, so eligibility and choice should be considered together.

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 to qualify as a micro-entity, subject to the relevant rules and exclusions. Those 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. These thresholds are not the only consideration; other eligibility rules and exclusions can apply, so it is important to check the company's specific situation before assuming it qualifies.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simpler framework for qualifying micro-entities, while FRS 102 is a more detailed financial reporting standard used by many small and medium-sized companies that do not apply the micro-entities regime. FRS 105 generally involves fewer disclosures and simpler measurement requirements. The right choice depends on whether the company qualifies for the micro-entities regime and whether the directors choose to apply it. Moving between frameworks can also have implications, so it is worth taking advice before changing approach.

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

Where a company prepares FRS 105 Micro Entity Accounts and is required to file accounts with Companies House, those accounts normally form part of the annual accounts filing. The filing requirements depend on the company's circumstances, including whether it is dormant, whether it qualifies for any exemption, and the relevant deadlines. FRS 105 accounts are separate from the Confirmation Statement, which is a different filing, and they should not be confused with a Corporation Tax Return. It is important to check the specific filing position for your company.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements prepared under the micro-entities regime, while a CT600 is the Corporation Tax Return submitted to HMRC. They serve different purposes and go to different authorities. The figures in the accounts can help inform the tax return, but the CT600 is a separate filing with its own requirements. Preparing the accounts does not automatically complete the Corporation Tax Return, so both should be dealt with as distinct obligations.

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

To prepare FRS 105 Micro Entity Accounts, an accountant will typically need your company's financial records for the period, such as bookkeeping records, bank statements, invoices, receipts, and a trial balance if one is available. Information about fixed assets, debtors, creditors, loans, and directors' transactions may also be relevant. Previous year's accounts and details of any changes in the business can help provide context. The exact information needed depends on the company's activities and circumstances, and we can provide a clear checklist once we understand your situation.