─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Caernarfon

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplified reporting framework available to companies that qualify as micro-entities and choose to apply it. For a small company in Caernarfon, that choice affects how the balance sheet, profit and loss account and disclosure notes are put together, and how the resulting accounts are filed at Companies House. Professional preparation helps make sure the accounts are built from your actual financial records, reflect the framework you have chosen, and are presented in a way that is appropriate for your company’s size, activities and reporting obligations. It is worth being clear that FRS 105 is not automatic: a company has to fall within the micro-entity size criteria and be satisfied that no exclusion applies, and even then the regime is a choice rather than an obligation. If you are unsure whether FRS 105 Micro Entity Accounts suit your circumstances in Caernarfon, a short conversation about your turnover, balance sheet and headcount is usually enough to establish where you stand.

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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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that says how a very small company’s annual accounts should look: a simplified balance sheet, a simplified profit and loss account, and a much shorter set of notes than you would see under a fuller framework. It sits alongside the UK micro-entities regime, which is the legal framework that allows qualifying companies to prepare and file accounts on a reduced basis. A company that qualifies for that regime can choose to apply it, and when it does, FRS 105 is the standard it uses to prepare its financial statements. Not every small company qualifies, and qualifying does not force you to use it — some businesses prefer a fuller framework because of the extra detail it gives lenders, investors or group companies. What FRS 105 does is reduce the reporting burden for genuinely small businesses while still producing accounts that show the company’s financial position and performance. If you run a limited company in Caernarfon and your figures sit comfortably within the micro-entity limits, FRS 105 Micro Entity Accounts are worth understanding properly before you decide.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Two things have to line up: the company must fall within the eligibility rules, and it must decide that the micro-entities regime is the framework it wants to use for that accounting period. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Those tests are a starting point rather than the whole picture. Other eligibility rules and exclusions can apply depending on the type of company, what it does and who relies on its accounts, and a company can move in or out of the regime as its figures change from year to year. Meeting the size conditions therefore does not automatically mean a company qualifies, and qualifying does not oblige a company to use the regime. For a limited company in Caernarfon weighing up FRS 105 Micro Entity Accounts, the sensible approach is to look at the current year’s figures, any relevant exclusions, and what the accounts are actually needed for before settling on a framework.

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 starts with good records. We work from your bookkeeping, bank transactions, invoices, expense records and any relevant asset or liability information to build a set of financial statements that reflects what actually happened in the accounting period. That means a balance sheet and profit and loss account prepared under FRS 105, with the notes and disclosures the framework requires, plus a review of the figures so that obvious inconsistencies, missing items or misposted transactions are picked up before anything is finalised. From there, the accounts are filed with Companies House in line with the filing requirements that apply to your company. It is important to separate this from tax: filing accounts under FRS 105 is not the same as dealing with Corporation Tax, and a Corporation Tax Return (CT600) is a distinct submission made to HMRC, based on the company’s taxable profits rather than on the accounts filing itself. Many companies ask us to handle both, along with their Confirmation Statement and other statutory obligations, but the two are separate processes with separate deadlines and separate audiences. Our role is to prepare the accounts carefully on the basis of the information provided and the reporting requirements that apply to your company, not to promise a particular outcome or to suggest that any filing is guaranteed to be accepted.

ICAEW

ACCA

AAT

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

If your company may qualify for the micro-entities regime, or you simply want to know whether FRS 105 Micro Entity Accounts are the right fit, get in touch for a straightforward conversation. Tell us a little about your company — what it does, roughly where your turnover, balance sheet total and employee numbers sit, whether the current year is your first set of accounts or a continuation, and whether you also need help with your Corporation Tax Return, Confirmation Statement or general bookkeeping. That information lets us assess your circumstances properly and explain what would be involved, what we need from you, and how the accounts and any related filings would be handled. We keep pricing clear and transparent, with options that reflect the level of support you actually need, and we are happy to answer questions before you decide anything. Whether you are in Caernarfon or elsewhere in the UK, the first step is simply talking through your 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 companies using the micro-entities regime. It sets out a simplified format for the annual accounts: a reduced balance sheet, a reduced profit and loss account and a much smaller set of notes than a fuller framework such as FRS 102. It is designed so that very small companies can produce accounts that meet their legal obligations without the detail that larger businesses need.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and then choose to apply the micro-entities regime. Qualifying is not automatic and meeting the size tests alone is not always enough — certain company types and circumstances are excluded, and some companies that could use the regime decide against it. The right approach is to check your company's specific position, including its legal form, its activities and any special rules that may apply.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies can choose to apply it and prepare FRS 105 accounts, or it can prepare accounts under a fuller framework instead. Some businesses opt for a more detailed framework because lenders, investors or group companies want the additional information it provides. There is a genuine choice to be made, and it can change as your company grows.

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. These are the size tests, and other eligibility rules and exclusions also apply, so satisfying two of the three conditions does not by itself guarantee that a company qualifies for the micro-entities regime. Your company's individual circumstances need to be considered.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the fuller UK financial reporting standard used by a much wider range of companies, including small companies that do not use the micro-entities regime. It generally requires more disclosures, more detailed accounting policies and more measurement work than FRS 105. FRS 105 is deliberately narrower and simpler, which keeps preparation lighter and costs lower, but it gives readers noticeably less information. The right framework depends on your size, your obligations and what anyone relying on the accounts actually needs to see.

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

Yes. Preparing accounts under FRS 105 does not remove the requirement to file annual accounts at Companies House for a limited company. What the micro-entities regime affects is the content and level of detail in those accounts, not whether they must be filed. Filing obligations, deadlines and any available exemptions depend on your company's circumstances, so it is worth confirming exactly what applies to you rather than assuming a particular treatment.

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

Yes, they are separate. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC in respect of the company's taxable profits. The accounts often provide the starting point for the tax computation, but the return is a distinct document with its own deadlines and its own submission route. It is a common misunderstanding that filing one covers the other.

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

In practice we need your bookkeeping or transaction records for the period, bank and credit card statements, sales invoices and purchase records, details of any assets and liabilities, payroll or employee information for the average headcount test, and details of any loans, directors' balances or related party transactions. If a previous set of accounts or a trial balance exists, that helps with comparatives and consistency. The cleaner the records, the smoother the process — but if your records are incomplete, we can discuss what is available and how best to move forward.