Limited company guide
How FRS 105 micro-entity accounts differ from small company and abridged accounts.
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.
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QuickBooks PartnerCertified ProAdvisor100+ yearsCombined team experienceFully insuredUp to £2m indemnityMicro-entity accounts are prepared under FRS 105. Small company accounts use FRS 102 Section 1A, which allows more disclosure, revaluation and deferred tax.
Different frameworks
Which to choose
What changes on the public record
Micro-entity accounts are prepared under FRS 105. Small company accounts use FRS 102 Section 1A, which allows more disclosure, revaluation and deferred tax.
Abridged accounts are a small company option under FRS 102 Section 1A where shareholders unanimously agree to less detail in the primary statements. They are not the same as micro-entity accounts, although the filed result can look similarly brief.
Choose FRS 105 for simplicity and cost when the company is small, has no property held at value, and nobody outside needs detailed figures.
Choose FRS 102 Section 1A where the company holds investment property, plans to raise finance, expects a sale, or where a lender or investor will read the accounts.
Under the Economic Crime and Corporate Transparency Act, small and micro companies must file a profit and loss account, and the option to file abridged accounts is being removed. That narrows the gap between the frameworks in terms of what the public sees.
Thresholds, rates and deadlines quoted here reflect the 2026/27 UK position. Check current GOV.UK guidance, or ask us, before you rely on them for your own company.
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Frequently asked
Yes, if the company remains eligible, though the change is a transition and needs handling properly in the first year.
Often yes for small facilities, but they frequently ask for management accounts or a fuller set for mortgages and larger lending.
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.
Yes. We work through secure cloud records, scheduled reviews and digital approvals, while keeping a named team available by phone, video call and email. Clients can also visit our Morden office by appointment.
We regularly work with Xero, QuickBooks, FreeAgent, Sage and connected sales or expense apps. The right setup depends on transaction volume, integrations and the reports you need, not simply the software brand.
The relevant calendar may include annual accounts, Corporation Tax payment and return dates, confirmation statements, VAT returns, payroll submissions and Self Assessment. We map the dates from your company year end and registrations.
No. This page explains general UK rules and common accounting treatment. Your facts, contracts and wider tax position must be reviewed before you rely on a conclusion.
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.
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Pick a time that suits you and a qualified accountant will call you about your company, deadlines and fees.
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