FRS 105 micro-entity accounts in Winslow

FRS 105 accounts for Winslow 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 Winslow businesses: local facts

Winslow is in the Buckinghamshire council area, in the South East region. Buckinghamshire has around 31,180 VAT- and PAYE-registered businesses, and 28,335 of them, about 91%, have fewer than ten employees (ONS UK Business Counts, 2026). That is the group the micro-entity rules were written for.

The largest groups of micro businesses in Buckinghamshire are professional, scientific and technical services (5,770), construction (4,310) and wholesale and retail (3,355). If you work in professional, scientific and technical services in Winslow, 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 20% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Winslow (Buckinghamshire 005) has 290 VAT- or PAYE-registered businesses, and 275 of them (95%) are micro businesses.

Buckinghamshire ranks 44 of the 1105 areas we serve by number of micro businesses, and its micro share of 91% is above the 89% average across them. In construction (4,310 micro businesses in Buckinghamshire), 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 (3,355 micro businesses in Buckinghamshire), 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.