Limited company guide
A worked, fictional example of micro-entity accounts, the FRS 105 balance sheet format, the notes required, and who qualifies as a micro-entity.
Short answer
Micro-entity accounts are the simplest statutory accounts format available to UK companies, prepared under FRS 105 and filed with Companies House as just a balance sheet with minimal notes, no profit and loss account and no directors' report required. The example below is entirely fictional and illustrative, not a template to copy figures from.
Written and reviewed by Waqas Sagar Member of ICAEW, Fellow of ACCA, Fellow of AAT, a double graduate and entrepreneur at heart, helping startups grow and serving thousands of businesses nationwide with an excellent team. Published by LimitedCompany.Accountants, 12 London Road, Morden, London SM4 5BQ. Reviewed 12 September 2026 against 2026/27 UK rates and current Companies House and HMRC guidance.
Micro-entity accounts are the simplest statutory accounts format available to UK companies, prepared under FRS 105 and filed with Companies House as just a balance sheet with minimal notes, no profit and loss account and no directors' report required. The example below is entirely fictional and illustrative, not a template to copy figures from.
Who qualifies as a micro-entity
What micro-entity accounts contain
Example micro-entity balance sheet (illustrative only)
Reading the notes
Micro-entity accounts format on the public register
Limits of the micro-entity format
Getting your micro-entity accounts prepared and filed
How we help
Before you rely on this
For periods beginning on or after 6 April 2025, a company qualifies as a micro-entity where it meets at least two of: turnover no more than £1m, balance sheet total no more than £500,000, and no more than 10 employees on average.
Qualifying is optional: a company that meets the thresholds can still choose to prepare small or full company accounts if it prefers more disclosure, for example to satisfy a lender.
Under FRS 105, the filed accounts consist of a balance sheet, signed by a director, and two short notes: one confirming any advances, credits and guarantees to directors, and one confirming any guarantees or financial commitments not included in the balance sheet. A profit and loss account is prepared but does not have to be filed publicly, and no directors' report or cash flow statement is required.
Comparative figures for the prior year are shown alongside the current year on the balance sheet.
The figures below are entirely fictional, for 'Example Trading Ltd', a company with a 31 March year end, and are included purely to show the format. Do not use these figures for your own filing.
Fixed assets: £8,200 (2025: £6,500). Current assets: stock £3,100 (2025: £2,400); debtors £14,750 (2025: £11,900); cash at bank and in hand £22,600 (2025: £17,300); total current assets £40,450 (2025: £31,600).
Creditors: amounts falling due within one year: £(19,300) (2025: £(15,750)). Net current assets: £21,150 (2025: £15,850). Total assets less current liabilities: £29,350 (2025: £22,350).
Creditors: amounts falling due after more than one year: £(5,000) (2025: £(7,500)). Net assets: £24,350 (2025: £14,850).
Capital and reserves: called up share capital £100 (2025: £100); profit and loss account £24,250 (2025: £14,750). Total shareholders' funds: £24,350 (2025: £14,850).
The directors' advances note simply states whether any director owed money to, or was owed money by, the company during the year and, if so, the terms. Many small companies file this as 'none' where there were no such balances.
The guarantees and commitments note discloses anything like a personal guarantee given by the company, or a lease commitment, that would not otherwise appear in the figures above.
What appears on the Companies House register is exactly what was filed: for most micro-entities that is the balance sheet and two notes only, with no turnover or profit figure visible publicly, since the profit and loss account is not filed.
This is one of the main practical attractions of micro-entity status: competitors and customers searching the register see far less financial detail than under the small companies regime.
Because so little is disclosed, some lenders, landlords and larger customers ask for full or small company accounts, or management accounts, before extending credit or entering a contract, since the public filing alone may not give them enough comfort.
The format also cannot be used by certain entities, including most public companies, financial institutions and members of an ineligible group.
We prepare and file micro-entity accounts to the FRS 105 format shown above, using your real figures rather than illustrative ones (micro-entity-accounts).
Not sure when yours are due? Use our free filing due date checker (tools/filing-due-date-checker) to work out your deadline from your year end.
We are an independent firm of Chartered Accountants, not Companies House or HMRC.
Rates, thresholds and deadlines quoted here reflect the 2026/27 UK tax year. Check current GOV.UK guidance, or ask us, before relying on them for your own company.
Primary references
Local help
We work with company directors across London and Surrey from our office at 12 London Road, Morden, London SM4 5BQ. Pick your area, or send the form below and we will call you back.
Frequently asked
A balance sheet with comparative figures plus two short notes on directors' advances and guarantees, and no filed profit and loss account. See the illustrative example above; figures shown are fictional.
For periods from 6 April 2025: turnover up to £1m, balance sheet total up to £500,000, and up to 10 employees, meeting at least two of the three.
Not on the public register. The profit and loss account is prepared but is not required to be filed publicly under FRS 105.
No, a directors' report is not required under the micro-entity regime.
Yes, you can instead prepare small or full accounts if you want more disclosure, for example for a lender.
Companies House provides guidance and an online filing service; see GOV.UK's microentities, small and dormant companies page for current filing routes.
Almost never. Micro-entities qualify for audit exemption unless a specific exclusion applies (for example being part of an ineligible group).
Keep bank statements, sales and platform reports, purchase invoices, payroll records, VAT workings, finance agreements and Companies House correspondence. We confirm the exact list at onboarding and identify gaps before a filing deadline becomes urgent.
The fee depends on transaction volume, record quality, VAT and payroll requirements, historic catch-up and the level of reporting needed. We agree a fixed scope and price before technical work starts, with published packages available on our fees page.
Yes. We request professional clearance, collect the prior records and authorities, check the next Companies House and HMRC deadlines, and give you one clear handover list. The process is normally completed remotely.
Included approach
Check the current rules
Deadlines, thresholds and filing rules change. GOV.UK and Companies House publish the current statutory position; advice should then be applied to your company’s circumstances.
A full fictional set: balance sheet, statutory statements and notes, laid out the way Companies House expects.
Talk to an accountant
Share your next deadline, accounting problem or growth question. We will reply with a clear next step and quote any technical work before it begins.
Chat with ACCOTAX on WhatsAppPick a time that suits you and a qualified accountant will call you about your company, deadlines and fees.
Appointments run Monday to Friday, 9:00am to 5:30pm. Your confirmation is emailed straight away.
Four London offices
Work with us entirely online, or sit down with your accountant at whichever office suits you. Open Monday to Friday, 9:00am to 5:30pm. Office visits are by appointment only, so please book before coming in.
Free, no obligation
Pick a time that suits you and a qualified accountant will call you about your company, deadlines and fees.
Appointments run monday to friday, 9:00am to 5:30pm. Your confirmation is emailed straight away.
