─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Exmouth

FRS 105 Micro Entity Accounts in Exmouth are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the micro-entities regime. FRS 105 is a standalone, simplified standard, and it is only available to companies that meet the relevant eligibility conditions and decide to apply that regime. In practice, that means the accounts are prepared on a basis that is narrower and more straightforward than a full FRS 102 set, with fewer disclosure requirements and restricted accounting options. Professional preparation helps make sure the numbers in your FRS 105 financial statements reflect your company’s actual circumstances, the accounting policies you have adopted and the reporting requirements that apply to your accounting period. We work from your bookkeeping and financial records, explain what information is needed, and separate the preparation of the accounts from the separate Companies House filing and Corporation Tax obligations so you always know which task is which.

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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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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

What Is FRS 105? Micro-Entity Accounts Explained

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the UK micro-entities regime, which is an accounting regime that qualifying companies can choose to adopt instead of a fuller framework such as FRS 102. Put simply, FRS 105 sets out how a micro-entity recognises and measures the items in its financial statements, and what it needs to disclose in the notes. It keeps things deliberately simple: there is no fair value accounting, no revaluation of assets, and a much shorter list of disclosures than you would find under a larger reporting framework. The important point is that FRS 105 is not automatic. A company needs to qualify for the micro-entities regime, and the regime has to be chosen — FRS 105 applies when that choice is made. If you are unsure which framework suits your company, we can talk through the options for your FRS 105 Micro Entity Accounts in Exmouth.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. It is not open to every small company, and it is not automatic. 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. Alongside those size conditions, other eligibility rules and exclusions can apply depending on the type of company and its activities, so meeting the thresholds on their own does not guarantee that the micro-entities regime is available or appropriate. Companies in Exmouth and the surrounding area that think they may qualify can ask us to review their position for the accounting period in question and explain what applying FRS 105 would mean for their 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 Micro Entity Accounts

Well-prepared FRS 105 Micro Entity Accounts depend on accurate records and a clear understanding of the reporting requirements that apply to your company. We prepare your financial statements from the information you provide — bookkeeping, bank records, sales and purchase documentation and any relevant supporting schedules — and present them in line with FRS 105 and the micro-entities regime where your company qualifies and has chosen to apply it. Our role covers the preparation of the accounts, questions on accounting policies and disclosures, and guidance on the separate step of filing accounts with Companies House. It is worth being clear that filing accounts at Companies House is a distinct exercise from your Corporation Tax obligations: a CT600 is a separate Corporation Tax Return submitted to HMRC, and it is not the same document as your FRS 105 financial statements. We can help with both areas so the two processes are handled in the right order and on the right basis.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Exmouth

If your company is considering the micro-entities regime, the sensible next step is a straightforward conversation about your circumstances. Tell us about your trading activity, your accounting period, your current bookkeeping arrangements and what you already file, and we can assess whether FRS 105 Micro Entity Accounts look like the right fit for your company. We will explain what information we need, how the accounts are prepared, and how the Companies House filing sits alongside your separate Corporation Tax Return obligations. Whether you are already applying the micro-entities regime, weighing it up against FRS 102, or setting up a new company and unsure where to start, get in touch and we will walk you through your options clearly and without jargon.

─── 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 the rules for recognising and measuring items in the financial statements, together with a limited set of disclosure requirements. It is a simplified framework: there is no fair value accounting and no revaluation of assets, and the notes to the accounts are shorter than those required under fuller standards. FRS 105 sits alongside the UK micro-entities regime — a company must qualify for that regime and choose to apply it, and FRS 105 applies when that choice is made.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not just a matter of size: the size conditions must be met, and other eligibility rules and exclusions can apply to particular types of company. For that reason, meeting the size thresholds alone does not automatically guarantee eligibility. The practical approach is to check your company's position for the specific accounting period in question before deciding to prepare FRS 105 Micro Entity Accounts.

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 for it can choose whether to apply it, and some qualifying companies prefer to prepare accounts under a fuller framework such as FRS 102. FRS 105 only applies when a qualifying company has chosen to use the micro-entities regime. If you are unsure which route is more appropriate for your business, it is worth discussing the differences before your next set of accounts is prepared.

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. Those conditions are 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. The word generally matters here: other rules and exclusions can affect whether a company qualifies, so the criteria should be checked against your company's specific circumstances rather than assumed.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a much fuller financial reporting standard, used by a wide range of companies, and it permits or requires options that FRS 105 does not — fair value accounting and revaluation of assets being the clearest examples. FRS 105 is deliberately narrower and simpler, with fewer disclosures, which is why it is only available to qualifying micro-entities that choose the micro-entities regime. Choosing between them affects how items are measured and what appears in the notes, so the decision is best made with your accountant before the accounts are prepared.

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

Yes. A company that prepares accounts under the micro-entities regime still has to file accounts at Companies House for the relevant period. Micro-entity accounts are filed in a simplified form, and the filing requirements for your company depend on the rules in force for that accounting period. Preparing the accounts and filing them are two separate steps, and both need to be completed. Filing requirements do change from time to time — proposals about what small and micro-entities file have been consulted on — so it is worth checking the current position for your period.

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

Yes, they are two different things. Your FRS 105 Micro Entity Accounts are the financial statements prepared under the financial reporting framework. A CT600 is a Corporation Tax Return, which is submitted to HMRC to report your company's taxable profits and calculate the tax due. The figures in the accounts inform the tax return, but the documents serve different purposes, go to different bodies and follow different rules. Both need to be handled, which is why it helps to plan the accounts and the tax return together rather than in isolation.

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

In most cases we will ask for your bookkeeping records for the accounting period, bank and credit card statements, sales and purchase invoices or summaries, payroll information if you employ staff, details of any assets bought or sold, and any loan or finance agreements. It also helps to know whether the company has previously prepared accounts and, if so, under which framework. Once we can see the records, we can confirm what else is needed and answer any questions about how the figures will be presented in your FRS 105 financial statements.