─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cathays

FRS 105 Micro Entity Accounts give qualifying companies in Cathays a straightforward, proportionate way to report their financial position. FRS 105 is the financial reporting framework that applies when a company meets the conditions of the UK micro-entities regime and chooses to use it. It is deliberately simpler than the standards used by larger companies, which means the accounts can be shorter, clearer and easier to understand, while still presenting the information the company is required to report. Professional preparation starts with a proper review of your circumstances — your trading activity, your balance sheet, your employee numbers, your accounting period dates and any exclusions that might apply — so that the framework is applied appropriately rather than assumed. From there, the figures can be built up from your bookkeeping records and supporting documents, checked for consistency, and prepared in a format suitable for filing at Companies House alongside the rest of your annual obligations. If you run a small limited company in Cathays and want to understand whether FRS 105 Micro Entity Accounts are the right fit, we can talk you through the options in plain English.

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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 Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In practice, it sits alongside the micro-entities regime, which is a set of company law rules that allows the smallest companies to prepare simpler annual accounts than larger businesses. If a company qualifies for that regime and decides to apply it, FRS 105 is the standard it uses to draw up its financial statements. The main appeal is simplicity: FRS 105 accounts focus on the essentials — what the company owns and owes, what it has earned, and what it has incurred — without the more elaborate disclosures that other frameworks require. That can make the figures easier for a director or shareholder to read and quicker to prepare, which is often exactly what a small owner-managed business needs. It is worth being clear about how it fits together with your other filings, because they are separate exercises. FRS 105 governs how the annual accounts are prepared and reported. A Corporation Tax Return, commonly known as a CT600, is a separate submission to HMRC that deals with tax, and a Confirmation Statement is a separate Companies House filing that confirms the company’s registered details. For companies in Cathays, understanding which framework applies — and why — is the first step towards tidy, well-presented annual accounts.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size conditions. 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. Some companies are excluded from the regime regardless of their size — for example, certain entities that are not permitted to use it under company law — and there are additional rules around group structures, company type and the way conditions are assessed across periods. That means meeting the size conditions alone does not guarantee eligibility: it is a starting point, not an automatic answer. In practice, directors of small companies in Cathays usually want to know three things: whether their company qualifies, whether choosing the micro-entities regime is sensible for them, and how the resulting FRS 105 Micro Entity Accounts will look once prepared. We can review your circumstances, explain the criteria in plain terms, and help you decide how to proceed for the accounting period in question.

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

Preparing FRS 105 Micro Entity Accounts is not just a matter of entering numbers into a template. The framework has its own recognition and measurement requirements, and the way your transactions are recorded can affect whether the accounts present a clear and consistent picture of the company. We work from your financial records — bookkeeping, bank statements, sales and purchase information, payroll details, asset and liability schedules, and any relevant correspondence — to build a set of financial statements that reflects your company’s circumstances and the reporting requirements that apply to it. Part of that process is checking that the micro-entities regime is genuinely appropriate for the period in question, since eligibility is based on size conditions and can be affected by other rules and exclusions. We also keep the different filing strands distinct: the preparation of the financial statements themselves, the filing of those accounts with Companies House, and the separate Corporation Tax obligations that are dealt with through a CT600. Being clear about what goes where helps you avoid last-minute surprises and keeps your records aligned across the year. If you would like your FRS 105 Micro Entity Accounts prepared on a careful, well-documented basis, get in touch to discuss your position.

ICAEW

ACCA

AAT

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

If you would like help with your FRS 105 Micro Entity Accounts, the best starting point is a conversation. Tell us about your company — what it does, how long it has been trading, your accounting period dates, and roughly how your turnover, balance sheet and employee numbers look. That information helps us assess whether the micro-entities regime is likely to be available to you and whether FRS 105 is the right framework for your circumstances. We can also look at what you already have in place, such as your bookkeeping records and any previous accounts, and explain what else we might need to prepare a complete set of financial statements. Pricing is discussed clearly upfront, with fixed-fee options available depending on your requirements. Whether you are a newly formed company, an established owner-managed business, or simply unsure which framework applies, we are happy to explain the options so you can make an informed decision.

─── 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 designed for micro-entities. It sets out how a qualifying company that chooses to apply the micro-entities regime prepares its annual financial statements. It is a simplified framework, with a reduced set of disclosure requirements compared with the standards used by larger companies, which makes it well suited to small, straightforward businesses.

Who can use FRS 105?

FRS 105 is available to 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 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. Other rules and exclusions can also affect eligibility, so meeting the size conditions alone does not automatically mean a company qualifies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than an obligation. A company that qualifies may choose to apply it, but it can also decide to use a different framework such as FRS 102. The decision usually comes down to what best suits the company's circumstances, its stakeholders and its reporting needs.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a broader financial reporting standard used by a much wider range of UK companies, and it generally requires more detailed accounting treatments and disclosures. FRS 105 is a stripped-back framework available only to qualifying micro-entities that choose the micro-entities regime. FRS 105 accounts typically contain less supporting detail, which makes them quicker and simpler to prepare and easier to read, while still reporting the information the framework requires.

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

Yes, annual accounts prepared under FRS 105 still form part of a company's annual accounts filing obligation, and those accounts are filed with Companies House. The fact that a company uses the micro-entities regime does not remove the filing requirement; it affects how the accounts are prepared and how much they need to disclose. Separate filings, such as the Confirmation Statement, remain due as normal.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the annual financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and work out the tax due. The figures in the accounts often inform the tax return, but they are different documents with different purposes and different recipients.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In the early stages, many small companies fall comfortably within the size conditions, but eligibility still depends on the specific rules that apply to that period. If your company has limited activity or has only recently started trading, it is worth checking the position before assuming which framework will be used.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping or accounting records for the period, bank statements, details of sales and purchases, payroll information, any asset and liability schedules, and your company registration details. Previous accounts and any relevant correspondence are also useful. Having complete, well-organised records makes the preparation process smoother and helps ensure the figures in the financial statements tie back to what actually happened in the business.

What changes are coming to micro-entity accounts filing?

The size thresholds used to assess micro-entity eligibility have been updated for accounting periods beginning on or after 6 April 2025, so companies that previously fell outside the regime may now fall within it. Filing arrangements and formats at Companies House are also evolving over time. Because these changes can affect which framework applies to your company, it is sensible to review your position each year rather than relying on an earlier assessment.