─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Frome

If your company qualifies as a micro-entity and you choose to apply the micro-entities regime, FRS 105 Micro Entity Accounts are the financial statements prepared under that framework. FRS 105 is the UK and Republic of Ireland financial reporting standard for micro-entities, and it allows for a shorter, more streamlined set of accounts with reduced disclosure compared with larger reporting frameworks. For directors in Frome, professional preparation helps ensure the figures are presented consistently with the applicable requirements, that the underlying accounting records support what is reported, and that the accounts are ready for the company’s filing obligations. Eligibility is not automatic, so it is worth reviewing your turnover, balance sheet total and employee numbers, along with any rules or exclusions that may affect your company, before deciding how to prepare and file.

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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 financial reporting standard used by companies that qualify for the UK micro-entities regime and choose to apply it. In simple terms, it is the set of rules that governs how a micro-entity’s annual financial statements are put together — what is included, how items are measured, and how much detail has to be disclosed. The micro-entities regime is an available accounting regime, not an obligation: a qualifying company can choose it or use a different framework such as FRS 102. Where the regime is chosen, FRS 105 is the standard that applies, and it typically results in a simpler balance sheet, profit and loss account and notes than a small company would prepare. The trade-off is that FRS 105 keeps things deliberately straightforward, so certain accounting treatments available under other standards are not used. If you run a company in Frome and want to know whether FRS 105 Micro Entity Accounts suit your circumstances, a short review of your position is usually the quickest way to find out.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility Explained

FRS 105 is designed for UK companies that qualify for the 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 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. Meeting those size conditions is not the whole picture, however. Other eligibility rules and exclusions can apply, certain types of entity are excluded from the regime regardless of size, and a company’s position in earlier accounting periods can be relevant too. That means the size thresholds alone should never be treated as an automatic pass into the micro-entities regime. If you run a company in Frome and want to know whether FRS 105 Micro Entity Accounts are appropriate, the sensible approach is to look at your actual figures and circumstances before deciding.

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 in Frome

FRS 105 Micro Entity Accounts are built from your company’s financial records — bookkeeping, bank transactions, sales and purchase records, payroll information and supporting documents — and then presented in line with the applicable reporting requirements for the micro-entities regime. Professional preparation means your figures are compiled consistently, the disclosures required under FRS 105 are included, and the accounts are laid out in a format suitable for the company’s statutory reporting. It is important to keep two things separate: the statutory accounts prepared under FRS 105 are one deliverable, the filing of those accounts with Companies House is another, and the company’s Corporation Tax Return (CT600) is a separate submission made to HMRC based on taxable profits. Good preparation keeps the story consistent across all three so there are fewer surprises later, and it gives directors a clearer picture of the company’s financial position at the year end.

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

If you are unsure whether your company can apply the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, get in touch. Tell us about your company — its accounting period, what it does, roughly how it is structured, and what records you already keep — and we can assess your circumstances and explain the options available to you. Whether you are preparing accounts for the first time, moving from a different reporting framework, or looking for a straightforward ongoing service, we can talk through what is needed and what the process involves. Reach out to us in Frome and let’s start with the details that matter to your company.

─── 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 sets out how micro-entity financial statements are prepared. It works alongside the micro-entities regime in company law and allows a qualifying company to produce simpler, shorter accounts with reduced disclosure. It covers what goes into the accounts, how items are measured and what notes are required, rather than being a tax return or a filing form in its own right.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 is intended for companies that qualify for the micro-entities regime and choose to apply it. Qualifying is not automatic — it depends on the size conditions being met and on other rules and exclusions that can affect certain companies. If a company does not qualify, or qualifies but decides not to apply the regime, it would normally prepare accounts under a different framework such as FRS 102.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, and a qualifying company can choose whether to apply it. However, if a company does apply the micro-entities regime, FRS 105 is the standard that governs its financial statements. Choosing the regime is therefore a decision worth taking deliberately, because it affects how the accounts are measured, presented and disclosed.

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. Meeting the size conditions alone does not guarantee eligibility, because other rules and exclusions can apply, and a company's position in earlier periods may also be relevant. It is always worth checking your specific circumstances.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simpler framework for micro-entities, while FRS 102 is the wider UK and Republic of Ireland standard used by small and larger entities, with a reduced disclosure option for small companies. FRS 105 keeps to a straightforward, largely historical cost basis and requires fewer notes, whereas FRS 102 offers a broader range of accounting treatments and more detailed disclosure requirements. In practice, the choice often comes down to whether the company qualifies for the micro-entities regime and whether the simpler presentation suits how the business is run.

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

Yes. A limited company still has to file annual accounts with Companies House even when it prepares FRS 105 Micro Entity Accounts. The accounts may be filed in a simplified form with reduced disclosure, but the filing obligation itself does not disappear. Filing deadlines vary depending on whether it is the company's first set of accounts and on its accounting reference date, so it is best to confirm your own deadline rather than assume a standard date applies.

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

Yes, they are separate. The FRS 105 Micro Entity Accounts are the statutory financial statements prepared for the company and filed at Companies House. The CT600 is the Corporation Tax Return, submitted to HMRC, and it is based on the company's taxable profits after any adjustments. The two are prepared from the same underlying records, but they serve different purposes, go to different bodies and have their own requirements.

What information is needed to prepare FRS 105 accounts?

Useful starting points include your bookkeeping or accounting software records, bank and credit card statements for the full period, sales and purchase documentation, payroll and employee information, details of asset purchases or disposals, loan and finance agreements, stock or work-in-progress figures where relevant, director's loan account movements, and a copy of the previous year's accounts. It also helps to confirm your exact accounting period and flag anything unusual that happened during the year, such as a change in activity or a one-off transaction.