─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Belper

FRS 105 Micro Entity Accounts in Belper are the annual financial statements prepared under the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. FRS 105 is not a tax return and it is not the same thing as a CT600 — it is the accounting framework used to draw up the statutory financial statements of a qualifying micro-entity. Professional preparation begins with your bookkeeping and financial records, weighs up your company’s particular circumstances, and works through the measurement and disclosure requirements that apply to micro-entities, so the resulting accounts present your position consistently and in line with the regime you have chosen. If you are not sure whether your company qualifies, the sensible starting point is a review of turnover, balance sheet total and employee numbers against the applicable size conditions, alongside the other eligibility rules and exclusions that can apply. FRS 105 is an available regime for qualifying companies rather than something every small company automatically falls into.

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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, and it sits alongside the other UK standards such as FRS 102. In simple terms, it is a lighter accounting framework: qualifying companies that choose the micro-entities regime can prepare their annual financial statements under FRS 105, with simplified measurement and fewer disclosure notes than a larger company would typically provide. The standard covers the financial statements a company prepares for its members and files at Companies House — the balance sheet, the profit and loss account and the related notes — rather than the tax calculation itself. Choosing the regime is a decision, not an automatic consequence of being small: a company first needs to qualify as a micro-entity, and FRS 105 applies when that regime is the one selected. If a company does not qualify, or decides the micro-entities regime does not suit its circumstances, a different framework such as FRS 102 is generally used instead. Understanding which framework applies to your company is the foundation for everything that follows, from the figures on the balance sheet to the disclosures that accompany them.

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 decide to apply it. Qualification is a two-part question: first, whether the company meets the applicable size conditions, and second, whether any other eligibility rules or exclusions prevent it from using the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 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 is a useful indicator, but it is not on its own a guarantee of eligibility: certain company types, group structures and activities fall outside the regime, and the position can change from one accounting period to the next as a business grows or restructures. For companies based in Belper and across Derbyshire, that means the sensible approach is to review the specific circumstances of the company — its figures, its structure and how its accounts will be used — before confirming whether FRS 105 Micro Entity Accounts are the right basis, or whether a framework such as FRS 102 is more appropriate.

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

Preparing FRS 105 Micro Entity Accounts properly means building the financial statements from your company’s underlying records — bookkeeping, bank and supplier data, sales information, asset and liability balances — and applying the reporting requirements that go with the micro-entities regime. We work through the figures with you, consider the judgements and estimates that affect the accounts, and produce financial statements that reflect your company’s circumstances rather than a template. The accounts themselves are then filed at Companies House as part of your statutory reporting obligations. That process is separate from your Corporation Tax position: a CT600 is a distinct filing submitted to HMRC, calculated from the company’s taxable profits and any reliefs or adjustments that apply, and it should not be confused with FRS 105 accounts. Similarly, a Confirmation Statement is a separate Companies House filing that confirms your company information is up to date. Keeping these obligations clearly distinguished helps you understand what is being prepared, who it goes to and why — and it means nothing is assumed about your tax position simply because your accounts are prepared under FRS 105.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Belper

If your company may qualify for the micro-entities regime, or you simply want a clearer picture of what FRS 105 Micro Entity Accounts involve, we are here to talk it through. Tell us about your company — how long you have been trading, roughly how your turnover, balance sheet and staffing levels compare with the micro-entity size conditions, and which accounting framework you have used previously. Share the records you already keep, such as bookkeeping or accounting software access, bank statements and details of any assets, loans or directors’ balances. With that information we can assess your circumstances, explain the options available to you and set out the next steps for preparing and filing your FRS 105 financial statements. There is no obligation, and no assumptions are made about your eligibility before we have looked at the detail.

─── 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 for micro-entities. It sets out how a qualifying company that chooses the micro-entities regime prepares its annual financial statements, including the balance sheet, the profit and loss account and the accompanying notes. It is designed to be a simpler framework than FRS 102, with reduced disclosure requirements, and it deals with accounting and reporting rather than with how much tax a company owes. FRS 105 applies when a qualifying company selects the micro-entities regime; it is not the only framework available to small companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities under the UK rules and that choose to apply the micro-entities regime. Qualification is based on size conditions plus a range of other rules and exclusions, so some companies that look small on paper may still not be eligible. Certain company types and activities are excluded from the regime altogether. The practical answer is that eligibility needs to be considered for each company and each accounting period, which is why we look at your circumstances before confirming which framework applies.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. A company that qualifies can choose to apply the regime and prepare FRS 105 accounts, or it can prepare its accounts under a different framework such as FRS 102. The choice often comes down to what the company needs from its accounts — for example, whether anyone relying on them requires a more detailed level of disclosure. FRS 105 is best described as an available option for qualifying companies rather than a default.

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 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. Meeting 2 of the 3 is the usual starting point, but it is not the whole test. Other eligibility rules and exclusions can apply, including restrictions on certain types of company and on companies within groups. Being under the size limits therefore does not automatically guarantee that the micro-entities regime is available to you.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general UK financial reporting standard for most companies, while FRS 105 is the micro-entities standard. FRS 105 involves simplified measurement and a much smaller set of disclosure notes, which makes it quicker and more straightforward for qualifying companies whose accounts are used mainly by the directors and shareholders. FRS 102 allows for more options and requires more extensive disclosures, which can be relevant where lenders, investors or other parties want a fuller picture. The right choice depends on eligibility and on what your company actually needs from its accounts.

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

Yes. Where a company prepares its statutory annual accounts under FRS 105, those accounts still form part of its Companies House filing obligations for the accounting period, in the same way as accounts prepared under any other framework. Filing the accounts with Companies House is separate from filing a Corporation Tax Return with HMRC, and the two are prepared on different bases. We can prepare the financial statements and handle the Companies House submission, while dealing with the Corporation Tax position as a distinct piece of work where you would like us to.

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

Yes, they are separate things. FRS 105 accounts are the company's financial statements, prepared under the accounting framework for qualifying micro-entities and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which is based on the company's taxable profits after any adjustments, reliefs or allowances. The two documents may start from the same underlying records, but they serve different purposes, go to different bodies and follow different rules. Preparing one does not replace the other.

What information is needed to prepare FRS 105 accounts?

Useful material includes your bookkeeping or accounting software access, bank statements for the period, sales and purchase records, details of any fixed assets or stock, loan and hire purchase agreements, and balances owed to or by directors and shareholders. It also helps to know whether any significant events took place during the period, such as a change in trading activity, a new loan or a disposal of assets, and whether this is your first set of accounts. Having the records complete and up to date is the biggest factor in producing FRS 105 Micro Entity Accounts that genuinely reflect your company's position.