─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Greenock

If your company is a qualifying micro-entity and you have chosen to apply the UK micro-entities regime, FRS 105 Micro Entity Accounts are the financial statements you will typically need to prepare. FRS 105 is the financial reporting standard written specifically for that regime, and it allows eligible companies to prepare simpler, more streamlined accounts than those produced under other frameworks. Our role in Greenock is to help you work through whether the regime is appropriate for your circumstances, then prepare your FRS 105 Micro Entity Accounts from your financial records in a structured and well-documented way. That includes looking at your bookkeeping, your assets and liabilities, any relevant disclosures, and how the accounts will be filed at Companies House, while keeping your separate Corporation Tax position clearly in view. Eligibility is not automatic, so we assess the position carefully rather than assuming every small company can use FRS 105.

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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 Standard for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard designed for companies that qualify for, and choose to apply, the micro-entities regime. In plain terms, it is the rulebook that tells you how to put together a set of micro-entity financial statements — what to include, how to measure things, and how much detail to disclose. The micro-entities regime is an available accounting regime rather than an obligation, so a qualifying company can decide whether to use it or to prepare accounts under a fuller framework such as FRS 102. If the company chooses the micro-entities regime, FRS 105 applies to those accounts. What does that mean in practice? Because FRS 105 is deliberately simplified, the accounts tend to be shorter and more straightforward, focusing on the basics: a balance sheet, a profit and loss account in a simpler form, and a small number of notes. That simplicity can suit owner-managed companies in Greenock who want tidy, understandable accounts without a long list of disclosures. The trade-off is that FRS 105 accounts give a more limited picture to anyone reading them, so it is worth thinking about who will see the numbers — lenders, investors or others — before deciding. Understanding both the simplicity and the limitations is the key to using FRS 105 Micro Entity Accounts sensibly.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and decide to apply it. Two things have to line up: the company must meet the size conditions, and it must actually choose the regime rather than a fuller framework. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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. It is important to be clear that satisfying these size conditions alone does not automatically mean a company can use the regime. Other eligibility rules and exclusions apply to certain company types and activities, and the tests are applied to the correct accounting period. For a Greenock company weighing up FRS 105 Micro Entity Accounts, the sensible approach is to review the criteria against your own figures and circumstances, confirm whether the regime is open to you, and then decide whether its simpler reporting is genuinely the right fit for how your business is run and who relies on the 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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts well starts with good records. We take the information you hold — bookkeeping entries, bank and card statements, sales and purchase records, payroll details, asset purchases, loan balances and any other supporting documents — and use it to build a set of financial statements that reflects the company’s position under the micro-entities regime. We look at the figures consistently, check that income and costs have been treated sensibly, and make sure the balance sheet agrees to the underlying records before anything is finalised. It is also important to separate the different obligations a small company has: preparing and filing financial statements at Companies House is one task, while meeting Corporation Tax obligations through a Company Tax Return (CT600) to HMRC is a separate filing with its own rules and deadlines. The two are related because they draw on the same underlying numbers, but they are not the same thing, and completing one does not discharge the other. We can help with the accounting and financial reporting side and make sure you understand where each filing sits, so nothing is overlooked.

ICAEW

ACCA

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

If you would like help with FRS 105 Micro Entity Accounts for your Greenock company, the best starting point is a conversation. Tell us about your business, your accounting period, the records you currently keep, and whether you have previously prepared accounts under FRS 105 or another framework. It also helps to know what you need the accounts for — filing at Companies House, supporting a finance application, or simply understanding your numbers better. With that information we can assess your circumstances, explain the options available to you, and set out clearly and transparently how we would approach the work and what we would need from you. There is no obligation and no pressure; just straightforward guidance on whether the micro-entities regime is the right fit and what preparation involves. Get in touch when you are ready and we will take it from there.

─── 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 companies using the micro-entities regime. It sets out how micro-entity financial statements should be prepared, keeping the requirements deliberately simple: a shorter balance sheet, a simplified profit and loss account, and a limited number of notes. It sits within the same family of UK standards as FRS 102, but it is written for much smaller companies and gives a more condensed view of the business.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 is intended for companies that qualify as micro-entities and then choose to apply the micro-entities regime. Qualifying is only part of the picture — the regime is optional, so a qualifying company may instead prepare accounts under a fuller framework. Certain companies are excluded from the regime regardless of size, so the only reliable way to know where you stand is to look at your specific circumstances, including your company type, what the business does, and your figures for the relevant period.

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 meets the size conditions may choose to apply it, but it can also decide to prepare accounts under FRS 102 instead. Choosing FRS 105 means simpler accounts with fewer disclosures; choosing a fuller framework means more detail and more disclosure. The decision often comes down to who will read the accounts and what they need 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. Meeting those conditions is not by itself a guarantee of eligibility, because other rules and exclusions can apply depending on the nature and status of the company. We review the criteria against your actual figures before any decision is made.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 105 is the streamlined standard for the micro-entities regime, with simpler measurement and far fewer disclosure requirements. FRS 102 is a fuller framework used by larger or more complex entities, and it generally requires more detailed accounting treatments and more extensive notes. Accounts prepared under the two frameworks can therefore look quite different, even for a business with similar underlying activity.

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

Yes. Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts form the basis of its annual accounts filing at Companies House, subject to the filing requirements that apply to that company. The format filed may be a simplified version depending on the company's size and filing route. Filing accounts at Companies House is a separate exercise from dealing with HMRC, and it is worth keeping both in your diary.

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

Yes, they are distinct. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, while a CT600 is the Company Tax Return submitted to HMRC to report the company's taxable profits and calculate the Corporation Tax due. The accounts usually provide the starting point for the tax return, but the tax computation applies its own adjustments. Preparing one does not automatically satisfy the requirements of the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity for the period in question and chooses to apply the regime. In the first period of trading, the size conditions are generally assessed on the figures for that period, which is one reason a company with a short or part-year accounting period may need a closer look. Because eligibility depends on the company's own circumstances rather than its age, it is worth confirming the position before the first set of accounts is prepared.

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

We normally need your bookkeeping records for the period, bank and credit card statements, sales and purchase documentation, payroll information, details of any assets bought or sold, loan and lease balances, and opening balances or prior year accounts where relevant. Anything unusual — a one-off transaction, a director's loan, or a change in how something has been treated — is worth flagging early. The cleaner and more complete the records, the more straightforward the preparation tends to be.