─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Kirkcaldy

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK who choose to adopt the micro-entities regime. If your company meets the relevant size conditions and decides that this regime suits its circumstances, FRS 105 sets out how the financial statements should be put together, including a simplified balance sheet, limited notes and a profit and loss account that does not have to be filed at Companies House in the same way as larger company accounts. Professional preparation helps ensure the accounts are built from your actual financial records, reflect the transactions of the period and are presented in line with the framework you have chosen, rather than being adapted from a set of accounts prepared under a different standard. For directors in Kirkcaldy running a small limited company, that means clear, straightforward accounts with the supporting work handled properly, plus a sensible explanation of what the figures show and what still needs to be filed.

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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 300 reviews 
    
 
 
 
   
 
 
       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.
  
 
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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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   3rd Hub 
 
 
 
 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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   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: The Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies that qualify for, and choose to use, the micro-entities regime. In simple terms, it is a simplified accounting framework: it allows a shorter balance sheet, far fewer disclosure notes and a more straightforward approach to measuring assets and liabilities than the standards used by larger businesses. FRS 105 does not apply automatically to every small company. A company first needs to qualify as a micro-entity under the size conditions, and then its directors need to decide that the micro-entities regime is the right choice; FRS 105 is the standard that applies when that choice is made. The result is financial statements that are easier to read, quicker to prepare and focused on the information that matters for a very small company, while still being prepared on a consistent and recognised basis. Understanding which framework applies is the starting point for any set of FRS 105 Micro Entity Accounts, and it is worth confirming before the accounts are drawn up rather than afterwards.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. 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. Meeting those size tests is a starting point rather than a guarantee — the regime also carries its own rules and exclusions, and certain entities are not eligible regardless of size. Eligibility can also shift as a company grows or as its figures change from one period to the next, so it is worth reviewing each year rather than relying on an earlier decision. For directors of small companies in Kirkcaldy, the practical question is twofold: does the company qualify, and is the micro-entities regime the right fit for how the business is run and what its stakeholders need from 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 Accounts with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records — bookkeeping entries, bank transactions, sales and purchase information, expense detail, asset purchases and any loans or director balances. From those records, the financial statements are built under the requirements of FRS 105, with the balance sheet and notes presented in the form the framework expects and the figures checked for consistency and completeness. It is important to separate the different pieces of the process. Preparing and filing the accounts with Companies House is one task; dealing with Corporation Tax, including any Corporation Tax Return (CT600) submitted to HMRC, is a separate obligation with its own rules and its own information requirements. A CT600 is not the same document as the accounts, even where the two are based on the same underlying figures. Working with an experienced preparer helps you keep those strands distinct, understand what each filing covers and approach the accounts with confidence that the framework chosen matches your company’s circumstances.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Kirkcaldy

If you would like your FRS 105 Micro Entity Accounts prepared on a clear, well-organised basis, the next step is a conversation. Tell us about your company — what it does, how long it has been trading, what records you keep and how you currently handle your bookkeeping and filings — and we can look at whether the micro-entities regime is likely to suit your circumstances, explain what the framework involves and set out what information we would need from you. Whether you are preparing micro-entity accounts for the first time, moving across from a different reporting framework or simply want a second pair of eyes on figures you have already produced, getting in touch early gives you time to ask questions and plan properly. Reach out to discuss your requirements 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 for micro-entities. It is a simplified framework, designed for the smallest qualifying companies, that allows a shorter balance sheet, reduced disclosure notes and simpler measurement requirements than the standards used by larger businesses. It sits alongside the UK micro-entities regime: a company that qualifies and chooses to use that regime prepares its accounts under FRS 105.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is about size, but it also depends on the type of entity and on certain exclusions, so not every small company will be eligible. Directors should confirm eligibility for their specific company and accounting period before the accounts are prepared, rather than assuming that being small is enough.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. The regime is an option, and FRS 105 applies when that option is taken. Some qualifying companies choose a different framework instead, often because of the way they need to present their figures, because of group relationships or because of what lenders or investors have asked for. The decision is made by the directors.

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 are size tests rather than a complete answer — other rules and exclusions can affect whether a company qualifies, and the position can change from year to year, so eligibility should be checked against your own circumstances.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is deliberately minimal, with far fewer notes and simpler measurement rules. FRS 102 is the standard used more widely, including by many small and medium-sized companies, and it requires more disclosure and more detailed accounting judgements. A company that does not qualify for the micro-entities regime, or that decides not to use it, would generally look to FRS 102 or another applicable framework instead.

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

Where a company prepares accounts under FRS 105 and is required to file accounts, those accounts are filed at Companies House in the usual way, subject to the filing options available under the micro-entities regime — for example, a micro-entity profit and loss account does not have to be filed. Filing the accounts is a separate exercise from preparing them and from dealing with Corporation Tax, and the two should be planned together so nothing is missed.

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

Yes. FRS 105 governs how the financial statements are prepared and presented. A Corporation Tax Return, usually submitted as a CT600, is a separate filing made to HMRC to report the company's taxable profits and work out the Corporation Tax due. The accounts often provide the starting point for the tax computation, but they are not the same document, they go to different places and they follow different sets of rules.

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

Typically you would provide complete bookkeeping records or accounting software access, bank statements and reconciliations, details of sales and purchases, expense records with supporting receipts where relevant, payroll information if you employ staff, and details of any assets, loans, director's loan account movements or share capital. If the company has traded for more than one period, the previous year's accounts are also useful. The more complete the records, the smoother the preparation process tends to be.