─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ely

FRS 105 provides the financial reporting framework that applies to qualifying micro-entities in the UK that choose to use the micro-entities regime. If you run a small limited company in Ely, FRS 105 Micro Entity Accounts can offer a simpler, more streamlined way to present your financial statements — but only where your company actually meets the relevant eligibility conditions and you decide to apply that regime. Our role is to work through your records, confirm the basis on which your accounts should be prepared, and produce financial statements that reflect your company’s own circumstances rather than a generic template. That means looking properly at your turnover, balance sheet position and employee numbers, considering any rules or exclusions that may affect you, and making sure the figures in your accounts are consistent with the information you report elsewhere. Whether you are filing for the first time, switching from a different reporting framework, or simply want your existing micro-entity accounts reviewed and tidied up, we can help you get the detail right and explain clearly what each element of your FRS 105 Micro Entity Accounts actually means.

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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 a UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that sets out how a qualifying company’s financial statements should look when that company chooses to apply the micro-entities regime. Because the regime is designed around the smallest companies, FRS 105 is deliberately simpler than the standards used by larger businesses: the accounts are shorter, the disclosure requirements are lighter, and certain measurements follow a more straightforward approach. That does not mean the accounts are informal or that anything goes — FRS 105 financial statements still need to be prepared properly and consistently, with figures that can be traced back to your accounting records. It is important to be clear about one thing: applying the micro-entities regime is a choice available to companies that qualify, not something that happens automatically, and FRS 105 applies when that choice is made. A company that qualifies for the regime could instead prepare its accounts under a different framework, so the decision should be made with your own circumstances in mind. For many owners of small companies in Ely, the appeal is straightforward — accounts that are easier to read, easier to file and easier to explain to anyone who asks about them, without losing accuracy.

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

In the UK, FRS 105 is intended for companies that qualify for the micro-entities regime and choose to apply it — both elements matter. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. It is important not to read those figures as a guarantee. Certain companies are excluded from the regime regardless of their size, and other eligibility rules can affect whether the micro-entities regime is available at all, so meeting the size conditions alone does not automatically make a company eligible. If your company qualifies, applying the regime remains your choice, and FRS 105 applies when that choice is made. For directors of small companies in Ely, the practical answer is to look at your own numbers and your company’s particular situation rather than relying on a general rule of thumb — we can talk that through with you and explain how it affects your FRS 105 Micro Entity Accounts.

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

Well-prepared FRS 105 Micro Entity Accounts start with good records and a proper understanding of the framework being applied. We build your financial statements from the bookkeeping and information you provide, then present them in line with the reporting requirements that apply to your company’s chosen accounting regime. In practice that means checking that the figures hang together, that the balance sheet reflects what the company actually owns and owes, and that the notes and disclosures included are the ones appropriate to FRS 105 accounts. It also means keeping two things clearly separate: the preparation of your financial statements and their submission to Companies House on the one hand, and your Corporation Tax obligations, including the CT600 return submitted to HMRC, on the other. Those are distinct filings with different purposes, and completing one does not remove the need for the other. Equally, a Confirmation Statement is a separate filing again — it confirms the company’s registered details rather than reporting financial performance. We explain what is being filed, why, and how each document relates to the others, so you are never left guessing about which obligation has been dealt with and which has not.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Ely

If you would like support with your FRS 105 Micro Entity Accounts, the best place to start is a conversation. Tell us about your company — how it trades, roughly how it is structured, what accounting records you already keep, and what you have filed previously — and we can assess how your circumstances fit with the micro-entities regime. From there we can explain the options open to you, set out what information we would need to prepare your financial statements, and agree a clear scope of work with transparent, fixed-fee pricing where that is appropriate. Whether you are setting up a new company in Ely, moving across from another reporting framework, or simply want your accounts handled properly so you can focus on running the business, get in touch and we will talk through your requirements in plain English.

─── 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-entities. It sets out how a qualifying company's financial statements should be prepared when that company chooses to apply the micro-entities regime. It is a simplified framework, with shorter accounts and fewer disclosure requirements than the standards used by larger companies, and it is built around the needs of the smallest businesses.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Meeting the size conditions is part of the picture, but other eligibility rules and exclusions can also apply, so qualifying is not simply a matter of being small. It is worth checking your position properly before assuming the regime is available to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a compulsory one. A company that qualifies may choose to apply it — and FRS 105 applies when that choice is made — but it may instead prepare its accounts under a different framework. The right decision depends on your company's circumstances and what you need from the accounts.

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 are subject to the relevant rules and exclusions, so meeting the size tests alone does not automatically confirm eligibility.

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 and is deliberately simpler, with lighter disclosure requirements and a more straightforward measurement approach. FRS 102 is used by a much wider range of companies and typically results in fuller accounts with more extensive notes. Which one applies depends on the regime your company qualifies for and chooses.

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

Accounts prepared under FRS 105 are still company accounts, so the usual filing obligations apply to the company. The preparation of the financial statements and their submission to Companies House are linked steps, but they are not the same as your tax filing. We can handle both the preparation and the filing and explain exactly what is being sent and when.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework. A CT600 is a separate Corporation Tax return submitted to HMRC, and it is calculated using figures that are typically based on the accounts. Filing accounts does not satisfy your Corporation Tax obligations, and filing a CT600 does not replace your accounts filing.

What information is needed to prepare FRS 105 accounts?

We normally need your bookkeeping or accounting records for the period, details of bank balances and any loans, a list of what the company owns and owes at the year end, and information on any fixed assets such as equipment, together with the previous year's accounts where they exist. The more complete your records, the smoother the process — and we will tell you if anything is missing.