─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Coniston

FRS 105 Micro Entity Accounts in Coniston are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 sets out simplified recognition, measurement and disclosure requirements, which is why it often suits smaller companies with straightforward, historic-cost based transactions. Professional preparation helps ensure your FRS 105 financial statements are built up properly from your accounting records, reflect your company’s own circumstances and are presented in a format appropriate for micro-entity accounts. Whether you are preparing accounts for the first time or considering a change of framework, it is worth confirming that your company genuinely meets the micro-entity eligibility conditions before FRS 105 is adopted, because qualification is not automatic and other rules and exclusions can apply.

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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: What the Micro-Entities Regime Means for Your Coniston Company

FRS 105 is the UK financial reporting standard that sits behind micro-entity accounts. In plain terms, it is the rulebook a company follows when it qualifies for the micro-entities regime and decides to use that regime for its annual financial statements. It is a deliberately pared-back framework: accounts are prepared on a historic cost basis, revaluations and fair value adjustments are not used, deferred tax is not recognised, and the disclosure notes are far shorter than those required under the frameworks used by larger companies. The practical effect is a set of FRS 105 financial statements that is simpler to prepare and easier for a reader to follow, while still reporting the company’s financial position and performance. Applying the micro-entities regime is a choice rather than an obligation, so a qualifying company may instead use a different framework, and the decision is best made by looking at the company’s transactions, its reporting needs and its plans.

Who Can Use FRS 105 in the UK? Eligibility for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK 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 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 during the accounting period. Those figures are a starting point rather than the whole picture, because other eligibility rules and exclusions can affect whether the regime is open to a particular company — for example, certain types of entity are excluded regardless of size, and special considerations arise where a company is part of a group. Meeting the size conditions therefore does not guarantee that a company qualifies, and qualifying does not oblige it to use FRS 105. For a Coniston company weighing up its options, the practical approach is to review the company’s own circumstances, confirm whether the micro-entities regime is available, and then decide whether FRS 105 or another framework better suits its reporting needs.

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 for Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts start with your underlying financial records — bookkeeping entries, bank and credit card transactions, sales and purchase invoices, asset details, stock figures and loan balances — and turn them into financial statements that follow the recognition, measurement and disclosure requirements of FRS 105. Once the accounts are finalised, they are typically approved by the company’s directors or members and then filed with Companies House where the company is required to deliver annual accounts, with a copy also provided to the company’s members. That process is separate from Corporation Tax: the CT600 and the supporting tax computations are submitted to HMRC under the corporation tax rules, on their own timetable, and a set of FRS 105 accounts does not itself settle any tax obligation. Because reporting requirements depend on your company’s specific circumstances, the accounts are prepared to reflect your own figures and applicable rules rather than a one-size-fits-all template.

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Get Expert Help With Your FRS 105 Micro Entity Accounts in Coniston

If you would like support with your FRS 105 Micro Entity Accounts, the next step is a straightforward conversation about your company and what it needs. Tell us about your accounting period, the nature of your transactions, whether you have already applied the micro-entities regime or are considering it, and share your records — bookkeeping data or a trial balance, bank statements, invoices, details of assets, stock, debtors, creditors and any prior year accounts. With that information, we can assess your circumstances, explain how FRS 105 would apply to your company and set out what is involved, including clear, transparent pricing and fixed-fee options where they suit your needs. Get in touch with any questions about eligibility, framework choice or the accounts themselves.

─── 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-entity accounts. It sets out simplified requirements for recognising and measuring items in the financial statements and reduces the number of disclosures compared with other frameworks. Accounts prepared under FRS 105 are based on historic cost: revaluations, fair value adjustments and deferred tax are not recognised. A company uses FRS 105 when it qualifies for the micro-entities regime and chooses to apply that regime.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK micro-entities regime and decide to adopt that regime. Qualification depends on meeting the applicable size conditions and on not falling within any of the rules that exclude an entity from the regime. Because there are additional conditions and exclusions beyond the size tests, meeting the thresholds alone does not automatically confirm eligibility, so it is worth checking your position before choosing the framework.

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 may choose to apply it, in which case FRS 105 applies, or it may instead prepare its accounts under a different framework, such as FRS 102 Section 1A for small entities. The right choice depends on factors like the transactions the company enters into, whether it needs accounting options such as revaluations or fair value treatment, and what its readers expect to see.

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: 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 during the period. These conditions sit alongside other eligibility rules and exclusions, and there are additional considerations for companies that are part of a group or that carry on particular types of activity, so the criteria should be applied to your specific circumstances.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK financial reporting standard, and its small-entities section (Section 1A) is commonly used by small companies that are not micro-entities. FRS 105 is more restrictive: it works on a historic cost basis, does not permit revaluations or fair value accounting, does not recognise deferred tax and requires far fewer disclosures. FRS 102 offers more accounting choices and requires more detailed notes, which can be useful if your company has more complex transactions or needs to present additional information.

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

Where a company is required to deliver annual accounts to Companies House, its micro-entity accounts form part of that filing, along with a copy being provided to the company's members. Filing requirements vary with the type of company and its circumstances, and the way small and micro-entity accounts are filed is being updated as part of wider filing reforms, so it is sensible to check the current Companies House requirements before you submit. Filing the accounts is a separate exercise from preparing the figures in the first place.

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

Yes. FRS 105 accounts are the company's statutory financial statements, prepared under the micro-entities regime and filed where required. A CT600 is a Corporation Tax Return submitted to HMRC under the corporation tax rules, usually supported by tax computations that start from the accounts but adjust for tax-specific treatment. Preparing and filing FRS 105 Micro Entity Accounts does not replace the CT600, and the two have their own requirements and submission routes.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 for its first accounting period if it qualifies as a micro-entity and chooses the micro-entities regime. Eligibility is normally assessed by reference to the company's own figures for that period, so a first set of accounts based on a short trading period may well fall within the size conditions, but other rules and exclusions still need to be considered. It is also worth thinking ahead: if the company is expected to grow or to enter into more complex transactions, a different framework may be a better long-term fit.