─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ashby-de-la-Zouch

If your company is based in Ashby-de-la-Zouch and meets the criteria for the UK micro-entities regime, FRS 105 Micro Entity Accounts may be the simplest and most cost-effective way to prepare and file your annual financial statements. FRS 105 is the financial reporting framework that applies when a qualifying company chooses to apply the micro-entities regime, and it allows for a more streamlined set of accounts than larger reporting frameworks. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are presented appropriately for your company’s circumstances, that the disclosures meet the requirements of the framework, and that your accounts are consistent with the information held in your accounting records. Eligibility is not automatic — the size conditions and other rules and exclusions must be considered for each company and each accounting period — so it is worth taking advice before deciding that FRS 105 is the right route for you. Whether you are newly incorporated, trading steadily, or reviewing your current reporting approach, we can talk you through how FRS 105 Micro Entity Accounts work in practice and what information we need from you.

🔥 SAVE £100.00

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 for Ashby-de-la-Zouch Micro-Entities

FRS 105 is the UK financial reporting standard for micro-entities. In plain terms, it is the rulebook that sets out how a qualifying small company’s annual accounts should be put together when that company chooses to apply the micro-entities regime. It sits alongside the UK’s company size framework: a company that qualifies as a micro-entity can choose to prepare its accounts under FRS 105, and where that choice is made, FRS 105 is the framework that applies. The appeal of FRS 105 Micro Entity Accounts is simplicity. Compared with larger reporting frameworks, FRS 105 generally involves a shorter balance sheet, a simpler profit and loss account, and fewer notes to the accounts, with a presentation designed to be straightforward for the owner-manager and for readers of the accounts. It is also prepared on a basis that suits smaller businesses, focusing on the information that is genuinely relevant at that size. What FRS 105 is not is a tax return. The accounts prepared under this framework are the company’s financial statements; Corporation Tax is dealt with separately through a CT600 submitted to HMRC. For companies in Ashby-de-la-Zouch weighing up their options, understanding FRS 105 in these straightforward terms makes it much easier to decide whether the micro-entities regime is a sensible fit, and to see what the resulting accounts will actually look like.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and that choose to apply 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. Those size conditions are the starting point rather than the whole story. Specific rules and exclusions can affect whether the micro-entities regime is available — certain types of company are treated differently, and a company’s status can change from one period to the next. Meeting the thresholds does not, on its own, guarantee that a company qualifies, and qualifying does not oblige a company to use the regime. This is why an eligibility review matters: we look at your figures, your structure and the nature of your business before confirming whether preparing FRS 105 Micro Entity Accounts is appropriate, rather than assuming that a small company automatically fits. If you trade in or around Ashby-de-la-Zouch and want a clear view of where your company stands, we can work through the conditions with you and explain what they mean in your case.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with good records. We work from your bookkeeping, bank information, invoices, receipts, payroll details and any other supporting records to build a set of financial statements that reflects your company’s actual position and performance for the period. From there, the accounts are prepared in line with FRS 105 and the presentation requirements that apply under the micro-entities regime, including the balance sheet, profit and loss account and the limited notes that the framework calls for. It is important to keep the different obligations separate: the preparation of your FRS 105 financial statements is one piece of work, filing those accounts with Companies House is another step, and your Corporation Tax obligations — including the CT600 — are a separate matter dealt with through HMRC. A Confirmation Statement is separate again. Because the size conditions and the other eligibility rules and exclusions can change from one accounting period to the next, we review your circumstances rather than assuming that the same framework applies every year, and we will flag clearly if FRS 105 no longer looks appropriate for your company. The aim is accurate, well-presented financial reporting that gives you and any other readers a clear picture of the business, prepared on the basis that actually applies to you.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with FRS 105 Micro Entity Accounts for your Ashby-de-la-Zouch company, the best next step is a straightforward conversation about your circumstances. Tell us about your company, how it is structured, what it does, when your accounting period ends, and how your records are currently kept, and we can assess whether the micro-entities regime looks like a suitable fit for you and what preparing your accounts would involve. If you already have draft accounts, previous filings or an existing accounting setup, sharing those helps us give you a more meaningful view. There is no obligation and no hard sell — just clear, practical guidance on your options, what we would need from you, and how the work would be handled. Fixed-fee options and clear, transparent pricing are available so you know where you stand before anything begins. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 sets out how the annual accounts of a qualifying company should be prepared when that company chooses to apply the micro-entities regime. The framework is deliberately streamlined, with a simpler balance sheet, profit and loss account and a much shorter set of notes than the frameworks used by larger companies, which makes it well suited to very small businesses.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualifying is not simply a matter of being small in everyday terms — the company has to satisfy the applicable size conditions, and other rules and exclusions can affect whether the regime is available. Because those rules can apply differently from one company and one accounting period to the next, it is worth checking your position before deciding that FRS 105 is the right framework for you.

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 to qualify as a micro-entity: 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 the size conditions does not automatically guarantee eligibility, because other rules and exclusions can apply, and certain company types are treated differently. We can review your figures against the conditions that apply to your period.

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 as a micro-entity can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to prepare accounts under a different framework — for example where a lender, investor or group parent wants more detailed information. The decision is usually best made on the basis of your circumstances rather than size alone.

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 the more simplified of the two, with a shorter balance sheet, a simpler profit and loss account and far fewer disclosures. FRS 102 is the standard generally used by larger small companies and by businesses that cannot or choose not to use the micro-entities regime, and it involves more detailed recognition, measurement and disclosure requirements. Choosing between them affects how much detail appears in your accounts and how much work goes into preparing them.

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

Preparing a set of accounts under FRS 105 and filing accounts with Companies House are two distinct steps. If the micro-entities regime applies to your company, the accounts you file are prepared on that basis, but the filing obligation itself comes from company law rather than from FRS 105. Filing is also separate from your Corporation Tax obligations, which are handled with HMRC, and separate from your Confirmation Statement. We can help you keep track of which piece of work relates to which deadline.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities framework and filed with Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which reports the company's tax position for the period. The figures in the accounts are often the starting point for the tax return, but the two documents serve different purposes and go to different organisations.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but it is not automatic. New companies still need to satisfy the applicable size conditions and any other rules that apply, and a first accounting period may be treated differently because of its length. If your new company is in Ashby-de-la-Zouch, it is worth discussing your expected turnover, balance sheet position and headcount so we can consider whether the micro-entities regime is likely to be appropriate for your first set of accounts.

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

In most cases we need your bookkeeping or accounting records for the period, bank and credit card statements, sales invoices and purchase records, payroll information if you employ staff, details of any assets purchased or sold, loan and finance agreements, and any stock or work-in-progress figures. If there were significant one-off transactions, or if you hold investments, we would look at those separately. Providing complete records up front helps the accounts be prepared accurately and keeps the process moving.

Are the micro-entity size thresholds changing?

Yes. For accounting periods beginning on or after 6 April 2025, the applicable size conditions are 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, with a company generally needing to meet at least 2 of the 3. If your company has been close to the previous limits, or has grown, it is sensible to check your position rather than assume the same regime continues to apply as before.