─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ammanford

If your company is based in Ammanford and qualifies for the UK micro-entities regime, FRS 105 Micro Entity Accounts may be the most proportionate way to report your financial position. FRS 105 is the financial reporting framework that applies when a qualifying micro-entity chooses to use the micro-entities regime, and it allows for simplified financial statements with fewer disclosures than the larger reporting standards. Professional preparation helps ensure your accounts are put together in line with that framework and reflect your company’s actual circumstances — its income, expenses, assets, liabilities and the way it trades. It also helps you present the figures consistently from one period to the next, so the accounts remain meaningful to you, to Companies House and to anyone else who reviews them. Eligibility is not automatic: a company must meet the size conditions and any other applicable rules, and choosing the regime is a decision that should be made with the numbers in front of you rather than assumed.

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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 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities — very small companies that meet the micro-entity size conditions and decide to apply the micro-entities regime. In plain terms, it is a simplified accounting framework: the accounts still show what the company owns, what it owes, what it earned and what it spent, but the rules are pared back and the notes to the accounts are far shorter than those required under fuller standards. That makes FRS 105 Micro Entity Accounts a practical option for owner-managed businesses in Ammanford that want clear, uncomplicated financial statements without a long list of disclosures. The important point is that qualifying for the regime and choosing to apply it are two separate things. A company that meets the size conditions is not obliged to use FRS 105, and a company that does not meet them cannot use it. Where the micro-entities regime is chosen, FRS 105 is the framework that governs how the accounts are prepared.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies in the UK and Northern Ireland that qualify for the micro-entities regime and choose to apply it. Two tests matter: whether your company meets the size conditions, and whether any other rules or exclusions affect its eligibility. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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 — but that alone does not confirm eligibility. Certain entities are excluded from the regime altogether, and companies that are part of a group or that have particular characteristics can face different considerations. That is why a company in Ammanford should have its position reviewed before deciding to prepare FRS 105 Micro Entity Accounts, rather than assuming that falling within the size limits makes the regime available automatically.

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

Well-prepared FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank information, sales and purchase records, payroll details and asset purchases to build a set of financial statements that accurately reflects your company’s trading for the period. The accounts are then prepared in line with FRS 105 and the presentation requirements that apply to micro-entity accounts, with the figures and any necessary notes set out clearly. It is worth keeping two obligations distinct: preparing and filing your company’s annual accounts with Companies House is one requirement, while your Corporation Tax position is dealt with separately through a Company Tax Return (CT600) submitted to HMRC. Both draw on the same underlying figures, but they are not the same document and they are not filed with the same body. We can help you understand how the accounts and the tax filing fit together for your Ammanford company, and what information is needed at each stage.

ICAEW

ACCA

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Talk to Us About Your FRS 105 Micro Entity Accounts in Ammanford

If you would like to know whether FRS 105 Micro Entity Accounts are the right fit for your company, get in touch and tell us a little about your business. It helps to have your most recent accounts, a summary of your income and costs, details of any assets, loans or stock, and an idea of your employee numbers across the period. With that information we can look at your circumstances, explain how the micro-entities regime works, and set out clearly what preparing and filing your accounts involves — along with transparent, fixed-fee options where these suit your needs. There is no obligation, and no assumptions are made about eligibility before we have reviewed your position.

─── 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 the micro-entities regime. It sets out how qualifying micro-entities prepare their annual financial statements, using simplified recognition and measurement rules and a much shorter set of disclosure notes than fuller standards such as FRS 102. In practice, it means smaller companies can produce straightforward accounts that still show their financial position and performance properly.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK rules and then choose to apply the micro-entities regime. Qualifying is not the same as being required to use it. Several additional rules and exclusions can affect whether a particular company is eligible, so eligibility should be checked against your company's own circumstances rather than assumed from size alone.

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 meets the size conditions may still decide to prepare its accounts under a fuller standard, for example because an investor, lender or group parent wants more detail. Where the regime is not chosen, FRS 105 does not apply and the accounts are prepared under the relevant alternative framework.

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 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. Meeting those size conditions does not automatically confirm eligibility on its own — other rules and exclusions can apply, and the position should be reviewed for your individual company.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the fuller UK standard and applies to a much wider range of companies. It requires more extensive disclosures and permits or requires certain treatments, such as revaluation and deferred tax accounting, that FRS 105 does not. FRS 105 is deliberately narrower and simpler: it is designed for qualifying micro-entities that want financial statements with minimal notes and a straightforward measurement basis.

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

Yes. Where a company prepares micro-entity accounts under FRS 105, those annual accounts normally form the basis of the company's accounts filing at Companies House, unless a specific exemption applies. This is a separate obligation from your Corporation Tax affairs, and the accounts filed at Companies House are the financial statements rather than a tax return.

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

Yes, they are separate filings. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, and they are filed with Companies House as part of the company's annual accounts requirement. A CT600 is the Company Tax Return submitted to HMRC to report taxable profits and calculate Corporation Tax. The two are closely related because the tax return generally starts from the accounts figures, but adjustments, allowances and tax rules mean the amounts reported can differ.

What information is needed to prepare FRS 105 accounts?

You will typically need your accounting records for the period, including sales and purchase information, bank and cash records, payroll details, any finance agreements or director's loans, stock and work in progress, and details of assets bought or sold. Your previous year's accounts are also useful for consistency. If your bookkeeping is up to date, preparation is usually more straightforward, and reviewing the records early helps identify anything that needs clarifying before the accounts are finalised.