─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ilkeston

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK — and for companies based in Ilkeston and the surrounding Derbyshire area, getting them right matters. FRS 105 is the standard used when a company both qualifies for the micro-entities regime and chooses to apply it, and it allows for simplified financial statements compared with larger reporting frameworks. Professional preparation helps ensure the accounts reflect your actual financial records, are presented in line with the applicable requirements, and are consistent with the figures you rely on for your wider filing obligations. It also helps you avoid the common pitfalls that arise when statutory accounts are rushed or produced without a clear understanding of the micro-entities regime — such as inconsistent figures, unclear disclosures, or accounts that do not properly match the underlying bookkeeping. If you run a small limited company in Ilkeston and want FRS 105 Micro Entity Accounts prepared carefully and explained in plain English, we can help.

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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  
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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 .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
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─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard for companies that qualify as micro-entities and choose to apply the micro-entities regime. In simple terms, it is a simplified accounting framework: it produces a shorter set of financial statements with fewer disclosures than the larger standards, which is why it appeals to very small companies that want straightforward, proportionate reporting. Two things have to line up for FRS 105 to be used. First, the company must qualify for the micro-entities regime, which is determined by size criteria and other eligibility rules. Second, the company must actually choose to apply that regime — qualification alone does not force it. When both are true, FRS 105 is the framework the accounts are prepared under. This is different from a Corporation Tax Return (CT600), which is a separate filing made to HMRC to report taxable profits, and from a Confirmation Statement, which is a separate Companies House filing confirming company details. FRS 105 Micro Entity Accounts deal with the statutory financial statements themselves. Understanding which framework applies — and what it means for your balance sheet, profit and loss account and the notes — is where good advice pays off.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. The size test is the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Meeting two of those three conditions is usually the route into the regime, but the size tests are not the whole story. The micro-entities regime also carries its own eligibility rules and exclusions, and certain types of company or particular circumstances can affect whether the regime is open to you. On top of that, qualification and choice are two separate things: a qualifying company can decide to apply the regime and use FRS 105, or it can prepare accounts under a different framework. For a company in Ilkeston weighing this up, the sensible approach is to review your figures, your company’s structure and activity, and your reporting obligations together, then decide whether FRS 105 Micro Entity Accounts are the right fit.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records: bookkeeping, bank statements, sales and purchase information, payroll details where relevant, and any other supporting documentation for the accounting period. From that information, the financial statements are built — typically a simplified balance sheet, a profit and loss account and the limited notes that FRS 105 permits — using the recognition and measurement rules that apply to the micro-entities regime. It is important to keep the different obligations distinct. FRS 105 accounts are the statutory financial statements; filing those accounts with Companies House is one process, while a Corporation Tax Return (CT600) submitted to HMRC is a separate one, even though the figures should be consistent with one another. A Confirmation Statement is separate again. We prepare FRS 105 Micro Entity Accounts based on the records you provide and the reporting requirements that apply to your company, and we explain the basis on which the figures have been put together. We do not claim that any set of accounts is guaranteed to be accepted or that our work constitutes regulatory approval — what we offer is careful, accurate preparation and clear communication throughout.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts

If you run a small company in Ilkeston and think the micro-entities regime may suit you, the next step is a straightforward conversation. Tell us about your company — what it does, how long it has been trading, your approximate turnover, balance sheet total and number of employees, and whether you already have accounts prepared under another framework. That information helps us assess whether FRS 105 is likely to be available and appropriate for your circumstances, and what would be involved in preparing your FRS 105 Micro Entity Accounts. Bring along your bookkeeping records, previous accounts if you have them, and details of your accounting period, and we can talk through the process, the information we need, and how we work. Whether you are filing for the first time, switching framework, or simply want your micro-entity accounts prepared and explained clearly, get in touch 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 is a simplified framework, which means the financial statements can be shorter and contain fewer disclosures than those prepared under larger standards such as FRS 102. It is used for the statutory accounts, not for tax filings, so it sits alongside — rather than replaces — your other company obligations.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Qualification depends on the size criteria plus a range of other eligibility rules and exclusions, so meeting the size tests on their own does not automatically mean a company can or should use FRS 105. It is worth checking your position before deciding, particularly if your company's activity or structure is unusual.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than an automatic one. A company that qualifies may choose to apply it, and it may also choose to prepare accounts under a different framework instead. Many qualifying companies do use FRS 105 because of its simplicity, but the decision should be made with your circumstances in mind.

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: 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 they should be treated as a starting point rather than the full test.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in complexity. FRS 105 is designed for qualifying micro-entities and permits simplified statements with limited disclosures. FRS 102 is a more detailed framework used by a much wider range of companies, and it generally requires fuller disclosures and more complex accounting treatments. Which one applies depends on the regime your company qualifies for and chooses.

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

Statutory accounts are filed with Companies House, and that filing is a separate process from the accounts preparation itself. Where a company has prepared FRS 105 Micro Entity Accounts, those accounts are the ones filed. Filing accounts with Companies House is also distinct from submitting a Corporation Tax Return (CT600) to HMRC and from filing a Confirmation Statement, which confirms company details rather than reporting financial results.

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

Yes. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime. A CT600 is a separate Corporation Tax filing submitted to HMRC to report taxable profits and work out the tax due. The two should be consistent with each other, but they are different documents with different purposes and different submission routes.

What information is needed to prepare FRS 105 accounts?

In practice we need your records for the accounting period: bookkeeping or accounting software reports, bank statements, details of sales and purchases, payroll information where applicable, and any loan, asset or stock information relevant to the year end. Previous accounts are helpful too, as they give context and help ensure consistency. Once we can see the records, we can confirm what else, if anything, is needed.

Can a new limited company use FRS 105?

It is possible for a newly incorporated company to use the micro-entities regime, but eligibility still needs to be assessed — a first accounting period can raise questions about how the size conditions are measured, particularly where trading has only recently begun. It is worth discussing your specific position rather than assuming FRS 105 will apply from the outset.