─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Aylesbury

If your company is a qualifying micro-entity, FRS 105 Micro Entity Accounts provide the financial reporting framework you can use to prepare simpler, more streamlined financial statements. FRS 105 sits within the UK micro-entities regime, and it applies when a company both qualifies for that regime and chooses to adopt it. Our work in Aylesbury focuses on preparing FRS 105 Micro Entity Accounts that reflect your actual financial records and the disclosure requirements that come with the standard, rather than a generic template. Eligibility depends on your company’s circumstances and on the applicable size conditions and exclusions, so the starting point is always a proper review of your position. From there, we can help you prepare accounts that are consistent, clearly presented and suitable for your reporting obligations.

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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 Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It is part of UK GAAP, and it exists so that the smallest companies can prepare financial statements without the length and complexity that larger reporting frameworks require. Instead of a full set of disclosures and detailed accounting policy notes, FRS 105 Micro Entity Accounts use a simpler presentation and a reduced set of notes. The important point is that FRS 105 is tied to the UK micro-entities regime: if a company qualifies for that regime, it may choose to apply it, and FRS 105 is the standard used when that choice is made. Qualifying does not force a company to use FRS 105, and meeting the size conditions alone does not automatically confirm eligibility, because other rules and exclusions can apply. In practice, FRS 105 Micro Entity Accounts are prepared from the company’s bookkeeping records and presented in the format the standard requires.

Who Can Use FRS 105 in the UK? Companies That May Qualify for the Micro-Entities Regime

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. 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. Those figures give a useful indication of where the line sits, but they are not the whole picture. Other eligibility rules and exclusions apply, and certain types of company or entity cannot use the micro-entities regime at all. Meeting the size conditions does not automatically mean a company is eligible, and qualifying does not oblige a company to apply the regime — it is a choice. If you run a company in or around Aylesbury and want to know where you stand, a review of your circumstances is the sensible first step.

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 Micro Entity Accounts and Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of how the micro-entity framework should be applied to your business. We work from the financial records you provide — sales and purchase information, bank and cash records, payroll details, asset purchases and any relevant agreements — and prepare the financial statements in line with FRS 105 and the applicable reporting requirements. Alongside the accounts themselves, there are separate obligations to keep in mind. Filing accounts with Companies House is a distinct step from dealing with Corporation Tax, and a Corporation Tax Return (CT600) is submitted to HMRC under a different set of rules, even though both draw on the same underlying records. We can help you prepare the accounts, explain the filing position, and keep the accounting side of your obligations organised and clearly documented.

ICAEW

ACCA

AAT

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

Whether you are preparing FRS 105 Micro Entity Accounts for the first time, changing your accounting framework, or simply want your year-end accounts handled properly, the next step is a straightforward conversation. Tell us about your company — its trading activity, structure, accounting period, and the records you currently keep — and we can assess your circumstances and explain how FRS 105 applies to you. If your company does not qualify for the micro-entities regime, or if another framework suits you better, we will say so clearly and talk through the alternatives. Get in touch with your requirements and any questions about eligibility, disclosures or filing, and we will set out what is needed to move forward.

─── 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 micro-entities. It sits within UK GAAP and is designed for the smallest companies, allowing a simplified presentation and a much shorter set of notes than fuller reporting frameworks. FRS 105 Micro Entity Accounts are prepared from the company's bookkeeping records and presented in the format the standard sets out. It is closely tied to the UK micro-entities regime: FRS 105 applies when a company qualifies for that regime and chooses to apply it.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to use it. 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 conditions does not automatically confirm eligibility — other rules, conditions and exclusions can apply, and certain companies are not able to use the regime. Eligibility therefore needs to be checked against your specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it, and FRS 105 is the standard used when that choice is made. A company that qualifies but prefers fuller reporting can apply a different framework instead, such as FRS 102. The right decision usually comes down to what the accounts are used for, what the directors want to show, and any requirements imposed by lenders, investors or other parties.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in depth. FRS 105 is the lighter framework for micro-entities, with simplified presentation and far fewer disclosures. FRS 102 is a fuller framework used by a much wider range of companies, and it involves more detailed recognition, measurement and disclosure requirements. Moving between the two is possible when a company's circumstances change, but the transition needs to be handled carefully so that the figures and comparatives make sense.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

FRS 105 Micro Entity Accounts are prepared as the company's annual financial statements, and those statements are normally filed with Companies House as part of the company's accounts filing obligations. Micro-entity companies have specific filing options available to them within the small company rules, and the accounts still need to be approved by the directors before filing. The accounts must be prepared first, and filing is a separate administrative step that follows.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are two different things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the FRS 105 framework and normally filed with Companies House. A Corporation Tax Return (CT600) is a tax filing submitted to HMRC under tax rules, not accounting rules. The two are usually based on the same underlying bookkeeping records, but tax adjustments, allowances and timing differences can mean the taxable figure differs from the profit shown in the accounts.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Eligibility is assessed against the applicable size conditions and any other relevant rules, and a company in its first accounting period is considered on the same basis as any other. It is worth reviewing this early, because the framework chosen affects how the first set of accounts is prepared and what the following year's comparatives will look like.

What information is needed to prepare FRS 105 Micro Entity Accounts?

Useful starting points include your bookkeeping records or accounting software access, bank and cash statements for the period, sales and purchase records, payroll information, details of assets bought or sold, loan or lease agreements, expense records, and the previous year's accounts where relevant. If you are unsure what applies to your business, sending what you have and letting us review it is usually the quickest route — we can then tell you what else may be needed.