─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Kentisbeare

FRS 105 Micro Entity Accounts are the financial statements prepared under the UK micro-entities regime for companies that qualify for it and choose to apply it. For directors running smaller limited companies in Kentisbeare and the surrounding area, FRS 105 offers a streamlined reporting framework built around historical cost and a simplified set of disclosures, which keeps the accounts concise while still presenting a true and fair view of the company’s financial position. Professional preparation starts with reviewing your bookkeeping, bank records and supporting documentation, confirming how the company’s circumstances fit the micro-entities regime, and then building the financial statements around the applicable reporting requirements. Because eligibility depends on more than simply being a small company, and because the regime is optional rather than automatic, it is worth discussing your position before the accounts are drafted. Well-prepared FRS 105 Micro Entity Accounts give you a clear, consistent set of figures for the year and a solid basis for the filing that follows.

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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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 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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 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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 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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 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 the Micro-Entities Regime Means in Practice

FRS 105 is the financial reporting standard that applies in the UK when a qualifying company chooses to use the micro-entities regime. In plain terms, it is the simplest of the UK accounting frameworks: the accounts are prepared on a historical cost basis, so assets are generally shown at the amount originally paid, and the number of notes and disclosures is reduced compared with larger frameworks. There is no requirement to revalue assets or reflect fair value movements, which keeps the figures easier to follow for a director who is not an accountant. The important point is that the micro-entities regime is an available option, not something that applies automatically. A company has to qualify under the size conditions and other rules, and the directors then decide whether to adopt it. When that choice is made, FRS 105 applies to those financial statements. FRS 105 Micro Entity Accounts therefore describe both the framework and the resulting accounts, and they remain subject to the normal requirement to give a true and fair view of the company’s affairs.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. The starting point is the size test. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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 during the period. Meeting those conditions is necessary but not always sufficient. Additional eligibility rules and exclusions apply, and some types of entity are prevented from using the regime altogether, so passing the size thresholds does not by itself guarantee that a company can prepare FRS 105 Micro Entity Accounts. Qualifying is also only half of the picture: the regime is optional, so the directors must actually choose to apply it before FRS 105 becomes the framework used for that period’s financial statements. For a company in Kentisbeare weighing up its options, the sensible approach is to check the size conditions, consider any exclusions, and then decide whether the micro-entities regime gives the clearest and most appropriate reporting outcome.

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.

Accurate, Professionally Prepared FRS 105 Micro Entity Accounts

Preparing FRS 105 Micro Entity Accounts properly means working from your actual financial records rather than from assumptions. Bank statements, sales invoices, supplier bills, payroll information, expense records and details of any assets or liabilities are reviewed and reconciled, then used to build a profit and loss account, a balance sheet and the accompanying notes in line with the applicable reporting requirements under FRS 105. Where something is unclear or a transaction needs further thought, raising it early usually saves time later and leads to figures that better reflect what happened in the period. It is worth being clear about the sequence of obligations: the financial statements are prepared for the company and its members, and the accounts are then filed with Companies House in the required format. Corporation Tax is a separate matter, dealt with through a Company Tax Return (CT600) submitted to HMRC, and the taxable profit position can differ from the accounting figures in the accounts. Keeping these processes distinct helps avoid confusion, and it means the accounts, the Companies House filing and the tax position can each be handled deliberately rather than as an afterthought.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Kentisbeare

If you are unsure whether FRS 105 suits your company, or you simply want the accounts prepared properly and on time, get in touch to discuss your FRS 105 Micro Entity Accounts. Tell us about your company, its trading activity, the period you need accounts for and how your records are currently kept, and share anything you already have such as bank statements, invoices, payroll details or previous accounts. That information lets us assess your circumstances, confirm whether the micro-entities regime looks appropriate for your company, and explain clearly what is needed from you and what happens next. Whether you are preparing a first set of accounts or switching frameworks, the aim is straightforward: reliable figures, a clear explanation of the basis on which they are prepared, and support with the filings that follow.

─── 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 when a qualifying company chooses to prepare its accounts under the micro-entities regime. It is the most streamlined of the UK accounting frameworks, using a historical cost basis and a reduced set of disclosures. That means assets are generally carried at the amount originally paid rather than being revalued, and the notes to the accounts are shorter than under frameworks intended for larger companies. FRS 105 Micro Entity Accounts must still give a true and fair view of the company's financial position and performance for the period.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size conditions, and a range of other rules and exclusions can affect whether a particular company is eligible. In Kentisbeare, as elsewhere in the UK, a company may meet the size tests and still be excluded from the regime, or may qualify but prefer to use a different framework. Eligibility is therefore something to confirm for your own circumstances rather than assume from turnover alone.

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 may choose to apply it, in which case FRS 105 is the standard used for those financial statements, or it may prepare accounts under a different framework such as FRS 102. The choice is usually made with the company's circumstances in mind, including what the directors and any other users of the accounts need from the figures. Once a framework has been adopted, consistency from year to year is generally expected.

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 during the period. These conditions are subject to the relevant rules and exclusions, and certain types of company cannot use the regime regardless of size. Meeting the size conditions alone does not automatically guarantee eligibility, so the position should be checked against the specific rules that apply to your company.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes and types of company. FRS 105 is designed for qualifying micro-entities that choose the micro-entities regime: it is built on historical cost, permits no revaluation or fair value accounting, and requires fewer disclosures. FRS 102 is a broader framework used by many small and medium-sized companies, with more detailed recognition, measurement and disclosure requirements, and it may allow certain fair value or revaluation options. The framework you use affects how items are measured and how much detail appears in the notes.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Yes. Where a company prepares accounts under the micro-entities regime, those accounts are normally filed with Companies House in the required format, alongside the other statutory filings that apply to the company. The filing framework, online filing options and the format expectations for accounts have been evolving, so it is worth confirming current requirements at the time you file rather than relying on how things were done in previous years. Preparing the accounts and preparing the Companies House submission are related but separate steps.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are separate requirements. FRS 105 accounts are the company's financial statements, prepared under the accounting framework and generally filed with Companies House. A Company Tax Return, usually submitted as a CT600, is the Corporation Tax filing made to HMRC and is based on the company's taxable profits, which can differ from the accounting profit shown in the accounts because of tax adjustments. The two processes often draw on the same underlying records, but they serve different purposes and have different deadlines and submission routes.

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

Typically, a preparer will ask for the company's bookkeeping or accounting records for the period, bank and credit card statements, sales invoices and supplier bills, payroll and employment details, evidence of any loans or hire purchase arrangements, and information on significant purchases or disposals of assets. Details of any previous accounts, the company registration information and confirmation of the period being reported are also useful. Providing complete records up front reduces the number of queries later and helps ensure the figures in the financial statements reflect what actually took place during the year.