─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Daybrook

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, a simplified reporting framework available to companies that qualify for it and choose to apply it. In Daybrook, many small limited companies find that FRS 105 offers a more straightforward way to present their financial position, with reduced disclosure requirements compared with larger reporting frameworks. Professional preparation helps to ensure the accounts reflect the company’s own financial records and circumstances properly, from the first draft through to the figures that appear in the filed financial statements. It is important to understand that eligibility is not automatic and not every small company qualifies, so the starting point is always a proper review of the company’s size, structure and reporting position before the micro-entities regime is adopted. Where FRS 105 is the right fit, we can help prepare accounts that are clear, consistent and written in the format the micro-entities regime expects.

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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 Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified accounting framework that lets qualifying companies prepare financial statements with less disclosure and simpler measurement rules than the fuller standards used by larger businesses. It sits alongside the UK micro-entities regime: qualifying companies may choose to apply that regime, and when they do, FRS 105 is the standard those accounts are prepared under. For a director of a small company in Daybrook, that can mean financial statements that are shorter, easier to follow and more closely aligned with the day-to-day records of the business, while still presenting the company’s assets, liabilities, income and expenses in a structured way. Choosing the micro-entities regime is a decision rather than a default, and the accounts still need to be prepared accurately and consistently from one period to the next. Understanding what FRS 105 does and does not cover helps directors make an informed choice about the framework that best suits their company.

Who Can Use FRS 105 in the UK? Companies That May Qualify for the Micro-Entities Regime

FRS 105 is designed 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, subject to the relevant rules and exclusions: 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 thresholds give a useful indication of where the regime is aimed, but they are not the whole test. Other eligibility rules, restrictions and exclusions can affect whether the micro-entities regime is available to a particular company, and the position can change as a business grows, restructures or changes what it does. A company that comfortably fits the size profile may still need to consider other factors before adopting FRS 105, and a company that has previously reported under a fuller framework may be able to move across if it qualifies. Because eligibility depends on the company’s own circumstances, it is worth reviewing the position properly rather than assuming that being a small limited company means FRS 105 applies automatically.

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 starts with the company’s own financial records — bookkeeping, bank transactions, sales and purchase information, payroll details and asset records — and turns them into a set of financial statements prepared under the micro-entities regime. Professional preparation involves reviewing those records, considering how the figures should be presented under FRS 105, and producing accounts that are internally consistent and supported by the underlying information. The preparation of the financial statements and the filing of those accounts with Companies House are usually handled together, but they remain distinct from the company’s Corporation Tax obligations: a Corporation Tax Return (CT600) is a separate submission made to HMRC, based on the company’s taxable profits, and it is not the same document as the FRS 105 accounts. Likewise, a Confirmation Statement is a separate Companies House filing and does not form part of the accounts. Our role is to prepare the accounts carefully and accurately based on the information provided, and to explain the figures clearly so that directors understand what is being reported before anything is finalised.

ICAEW

ACCA

AAT

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

If your company may qualify for the micro-entities regime, or you are already preparing FRS 105 Micro Entity Accounts and would like them reviewed and prepared professionally, we are happy to help. The most useful first step is a short conversation about your company — its trading activity, size, structure and reporting history — so we can assess whether the micro-entities regime is likely to be suitable and explain what the accounts would involve. From there, we will let you know which records and information we need, such as your bookkeeping, bank statements, sales and purchase details, payroll information and any asset records. Pricing is clear and transparent, with fixed-fee options available where they suit your circumstances, so you know what to expect before work begins. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements in Daybrook and we will help you take the next step.

─── 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 financial reporting standard in the UK that applies to micro-entities. It is a simplified framework with reduced disclosure requirements and simpler measurement rules than the standards used by larger companies. It forms part of the UK's micro-entities regime, which qualifying companies can choose to apply when preparing their annual financial statements.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Meeting the size criteria is usually part of the picture, but other eligibility rules and exclusions can also apply, so qualifying is not simply a matter of being a small company. The position should be reviewed for the company's own circumstances, including its structure and the type of activity it carries out.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than a mandatory one for every company that fits the size profile. A qualifying company can choose to apply it, and when that choice is made, FRS 105 is the standard used to prepare the accounts. Some companies may prefer or need to report under a fuller framework instead.

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. These conditions sit alongside other rules and exclusions, so meeting two of the three thresholds on its own does not automatically mean a company qualifies for the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies, and it involves more detailed measurement and disclosure requirements. FRS 105 is the micro-entities standard, offering a simpler, more streamlined set of rules for qualifying companies that choose the micro-entities regime. The framework a company uses affects how the figures are measured and how much detail appears in the financial statements.

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

Yes. Where a company prepares its annual accounts under the micro-entities regime, those FRS 105 accounts form the financial statements that are filed at Companies House, subject to the filing requirements that apply to the company. Filing the accounts is separate from the company's Corporation Tax responsibilities, and separate again from filings such as a Confirmation Statement.

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

Yes, they are two different things. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A Corporation Tax Return, commonly known as a CT600, is a tax filing submitted to HMRC based on the company's taxable profits. The accounts often provide useful information for preparing the tax return, but the two documents serve different purposes and go to different bodies.

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

In most cases we need the company's bookkeeping or accounting records for the period, bank statements and transaction details, sales and purchase information, payroll details if the company employs staff, and records of any significant assets, loans or liabilities. Company details, the previous year's accounts and any relevant correspondence are also helpful. Once we have reviewed what is available, we will confirm exactly what is needed for your FRS 105 Micro Entity Accounts.