─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Woodford Green

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK micro-entities that choose to apply the micro-entities regime. If you run a small limited company in Woodford Green and your business meets the relevant size conditions, FRS 105 can offer a simpler, shorter set of financial statements than the frameworks used by larger companies. Professional preparation helps to ensure that the accounts are put together appropriately for your company’s own circumstances — reflecting its income, expenses, assets and liabilities accurately, applying the disclosure requirements that go with the regime, and keeping the figures consistent with the rest of your company records. It also helps to keep the accounts aligned with what is expected when they are filed with Companies House. Because eligibility is not automatic and depends on a range of rules and conditions, the sensible starting point is a conversation about your company’s position before any accounts are drafted. From there, FRS 105 Micro Entity Accounts can be prepared on a clear, transparent basis with fixed-fee options available.

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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: The Micro-Entities Regime Made Simple

FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies that qualify for, and choose to use, the micro-entities regime. In plain terms, it is the rulebook that sets out how a qualifying company’s annual accounts should be prepared: what needs to be shown in the balance sheet and profit and loss account, how the figures are measured, and which notes are required. Its main appeal is simplicity. Compared with the fuller reporting standards used by larger companies, FRS 105 involves less disclosure and a more straightforward approach to valuing items in the accounts, which keeps the preparation process leaner and the finished statements easier to read. Two important points sit behind all of this. First, the micro-entities regime is a choice — a company that qualifies is not obliged to use it, and some owners prefer a different framework for reasons of their own. Second, FRS 105 applies when the micro-entities regime is the regime that has been chosen. So the sequence is: check whether the company qualifies, decide whether the regime suits its circumstances, and then prepare FRS 105 financial statements on that basis. For directors in Woodford Green running a small company, understanding that sequence is the key to getting the accounts right.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that decide to apply it. Qualifying is a two-part exercise: the company must fall within the size conditions, and it must not be caught by any of the other rules or exclusions that restrict access to the regime. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. That is a helpful starting point, but it is not the whole picture. Certain categories of company are excluded from the regime regardless of how small they are, and the way the size tests are applied can depend on the company’s history and the length of its accounting period. Meeting the size thresholds alone therefore does not guarantee eligibility, and it certainly does not oblige a company to adopt FRS 105. If you run a company in Woodford Green and want to know where you stand, we can review your circumstances, confirm which framework fits, and prepare FRS 105 Micro Entity Accounts where the regime is the right choice.

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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is not simply a case of filling in a template. The figures have to come from your company’s own financial records — bookkeeping, bank transactions, invoices, receipts, payroll information and any asset or liability details — and then be presented in line with the reporting requirements that apply to the micro-entities regime. That means applying the right measurement basis, making sure the balance sheet balances, and including the disclosures that belong with FRS 105 rather than the fuller disclosures used under other standards. It also means keeping the accounts consistent with the information held elsewhere, so that the picture presented to Companies House and the picture in your own records tell the same story. It is worth separating out the various obligations here, because they are often confused. FRS 105 accounts are the annual financial statements prepared for the company and, where required, filed at Companies House. A Corporation Tax Return (CT600) is a separate filing, submitted to HMRC, that deals with the company’s tax position. A Confirmation Statement is separate again. Preparing FRS 105 accounts and filing them appropriately does not, by itself, settle your Corporation Tax obligations. Our role is to prepare the financial statements carefully from the information you provide and to handle the accounts filing as a distinct step, so you can see clearly what has been done and what still needs to be dealt with.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Woodford Green

If your company may qualify for the micro-entities regime and you would like FRS 105 Micro Entity Accounts prepared properly, the next step is a straightforward conversation. Tell us about your company — what it does, when it was incorporated, its accounting period, and roughly what its turnover, balance sheet total and employee numbers look like. It also helps to share what you already have in place, such as bookkeeping records, previous accounts, and details of any assets or liabilities. With that information we can assess your circumstances, explain how the micro-entities regime would apply to you, and set out clearly what is involved, including the information we will need to prepare the accounts. Whether you are preparing accounts for the first time, switching from another framework, or simply want a second pair of eyes on how your company reports, we are happy to talk it through with no obligation and with clear, transparent pricing.

─── 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 a qualifying micro-entity's annual accounts should be prepared, including the format of the balance sheet and profit and loss account, how items are measured, and the limited notes that accompany them. It is designed to be simpler and shorter than the standards used by larger companies, which makes it attractive to small limited companies that want straightforward, cost-effective reporting.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and that choose to apply it. Qualification is based on size conditions together with a range of other eligibility rules and exclusions — for example, certain types of company are excluded regardless of their size. Meeting the size conditions does not automatically mean a company must, or may, use FRS 105, so eligibility should be checked against your specific circumstances before the framework is adopted.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies for it can generally choose whether to apply it, and some directors opt for a different framework because of the way they want to present the business, because of a lender's or investor's preference, or because of group arrangements. What matters is that the chosen framework is appropriate for the company and is applied consistently.

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: 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 are the headline size tests, and they sit alongside other qualifying rules and exclusions that can affect whether the regime is available. Because the detail matters, it is worth confirming your position rather than assuming you qualify.

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 is deliberately pared back, with simpler measurement requirements and far fewer disclosures. FRS 102 is the standard used by most other companies, including small companies that do not use the micro-entities regime, and it involves more detailed recognition, measurement and disclosure. In practice, choosing between them is a question of eligibility and of how much information the company wants, or needs, to show in its accounts.

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

Annual accounts, including accounts prepared under FRS 105, normally need to be filed with Companies House for a limited company, along with any other filings the company is required to make. The accounts are prepared for the company and then delivered to Companies House. Filing accounts is a separate exercise from dealing with Corporation Tax, and filing the accounts does not discharge the company's tax filing obligations. We can explain what applies to your company and handle the accounts filing as its own step.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's annual financial statements, prepared under the micro-entities reporting framework and filed at Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with the company's tax position for the period. The two are related in the sense that they draw on the same underlying financial information, but they are distinct documents with distinct purposes, deadlines and recipients, and preparing one does not automatically complete the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it — being new does not disqualify a company by itself. In the first period, the size conditions are assessed in line with the applicable rules for that period, and some companies find that a first accounting period is shorter or longer than twelve months, which can affect how the tests are looked at. It is also worth thinking about the longer term: a growing company may move out of the regime, so the framework should be reviewed as the business develops.