─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cambridge

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. For many small companies in Cambridge, from technology start-ups and consultancies to trades and retail businesses, FRS 105 financial statements offer a streamlined way to report the company’s position, because the framework is designed around the simpler needs of the smallest companies. Whether FRS 105 is the right framework, however, depends on the company’s individual circumstances, including its size, its structure and whether any of the applicable exclusions apply. Professional preparation of your FRS 105 Micro Entity Accounts can help ensure the figures are drawn from your accounting records accurately, that the disclosures reflect the requirements of the regime, and that the resulting financial statements are consistent with the information you report elsewhere. It also gives you a clear opportunity to ask questions about how the accounts interact with your wider filing obligations, so that you understand what is being submitted, when and why.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a qualifying company’s financial statements should be prepared when that company decides to apply the micro-entities regime: what the balance sheet and profit and loss account should look like, what the accounts should contain, and how much supporting disclosure is required. Because it is built for the smallest companies, FRS 105 keeps reporting lighter than the fuller standards used by larger businesses, which is why so many owner-managed companies look at it first. The important point is that the micro-entities regime is a choice, not an automatic position. A company has to qualify before it can use it, and even then it can decide to report under a different framework if that better suits its circumstances, for example because of what its lenders, investors or group arrangements require. FRS 105 applies when a company has qualified for the micro-entities regime and has chosen to use it. Understanding that distinction early makes it much easier to plan your year-end accounts sensibly.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and then choose to apply it. Qualifying involves two elements. The first is size: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable conditions, being 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. The second element is the wider set of eligibility rules and exclusions, which can rule certain companies out even where the size conditions are satisfied. For that reason, meeting the thresholds does not by itself guarantee that a company can use the micro-entities regime, and it certainly does not mean the regime must be used. Companies in and around Cambridge that are considering FRS 105 Micro Entity Accounts should look at the size tests together with their structure, ownership and any special circumstances, and then decide whether the framework genuinely suits the way they need to report.

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 starts with your financial records: the sales and purchase information, bank and cash records, payroll and expense detail, and any supporting documentation such as loan agreements, asset purchases and stock or work-in-progress notes. From that information, the financial statements are built in line with the requirements of the micro-entities regime, and the resulting figures are what the company reports in its annual accounts. It is worth being clear about how the different obligations fit together. The preparation of the financial statements and the subsequent filing of those accounts with Companies House is one exercise, governed by company law and the applicable reporting framework. Corporation Tax is a separate matter: a company’s tax position is reported to HMRC through a Corporation Tax Return, commonly known as a CT600, which is based on the company’s results but serves a different purpose and follows different rules. A Confirmation Statement is separate again, covering the company’s registered details rather than its financial performance. Keeping these distinct helps you avoid assuming one filing covers another. Well-prepared accounts, reviewed against the reporting requirements that apply to your company, give you a dependable set of figures to work from and a clearer picture of your business.

ICAEW

ACCA

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

If your company may be able to use the micro-entities regime, or you are simply not sure which reporting framework fits, we can talk it through with you. Share some background on your company, including its recent turnover, balance sheet position and employee numbers, along with what you need from your accounts and any deadlines you are working towards. From there, we can explain how FRS 105 Micro Entity Accounts would be prepared for a company in your position, what information we would need from you, and how the accounts sit alongside your other filing obligations. Get in touch to discuss your circumstances and take the next step with clear, straightforward guidance.

─── 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 is the standard that applies when a company qualifies for the micro-entities regime and chooses to use it, and it sets out how that company's financial statements should be prepared. Compared with the fuller reporting standards used by larger companies, FRS 105 is designed to keep the preparation of the accounts simpler and the level of required disclosure lighter.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then decide to apply it. Qualifying is not simply a matter of being small: the company needs to meet the applicable size conditions and must not fall within any of the relevant exclusions. Because there are rules and exceptions that can affect a particular company, it is worth checking your position before assuming the regime applies to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, or it may choose to report under a different framework such as FRS 102. The decision often comes down to what the company's stakeholders need, including banks, lenders, investors or group companies, as some of these may prefer or require a fuller set of financial statements.

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 the size conditions is not the end of the story, because other eligibility rules and exclusions can apply to certain companies. This means the size tests should be looked at alongside the wider requirements rather than in isolation.

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, so it is designed around the smallest companies and keeps the required disclosures relatively light. FRS 102 is used more widely and generally involves fuller recognition, measurement and disclosure requirements. A company that qualifies for the micro-entities regime can choose between the two, depending on what suits its circumstances.

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

Accounts prepared under FRS 105 are still annual accounts, so the usual company filing obligations apply to them in the same way as accounts prepared under another framework. The financial statements are prepared from the company's records and then filed with Companies House in accordance with the filing requirements that apply to that company. The exact format and content of what is filed will depend on the framework used and the company's circumstances.

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 accounting framework that applies to qualifying micro-entities. A Corporation Tax Return, often referred to as a CT600, is a tax filing submitted to HMRC and is based on the company's results but governed by tax rules rather than the financial reporting framework. Preparing the accounts is therefore one exercise and dealing with the company's Corporation Tax obligations is another, even though the two are closely related in practice.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime, but eligibility still has to be assessed against the applicable conditions and any exclusions. In a company's first period of trading, the size tests are applied using the rules that cover newly formed companies, which are not always identical to those for an established business. In practice, this is why it is worth reviewing a new company's position rather than assuming FRS 105 will automatically apply.