─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Llangollen

FRS 105 Micro Entity Accounts in Llangollen are prepared under the financial reporting framework that applies to qualifying micro-entities which have chosen to apply the UK micro-entities regime. FRS 105 is a distinct, simplified basis of accounting, so it is not simply a lighter version of a full set of accounts — the recognition, measurement and disclosure requirements are specific to that framework. Professional preparation helps ensure your accounts are built up properly from your bookkeeping records, reflect your company’s actual circumstances, and are presented in a way that is consistent with the micro-entities regime where your company qualifies for it and has decided to use it. That includes looking at your turnover, balance sheet total and employee numbers, checking whether any exclusions or restrictions apply, and considering whether FRS 105 remains the right choice for the year in question. Because the micro-entities regime is an option rather than an automatic entitlement, it is worth confirming your position before the accounts are finalised rather than after.

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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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 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: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that says how small companies within the micro-entities regime should measure their assets and liabilities, recognise income and expenses, and what they need to disclose in their financial statements. The UK micro-entities regime is a set of legal size criteria that certain very small companies can meet; when a company qualifies for that regime and chooses to apply it, FRS 105 is the accounting framework used to prepare its financial statements. The idea behind it is simplification: fewer accounting policy choices, a lighter disclosure burden and a more straightforward balance sheet and profit and loss account, which can make the accounts clearer and less costly to prepare for the people running a small company. It also keeps the accounts focused on the information that matters at that size. Crucially, FRS 105 is a choice available to qualifying companies, not something that is forced on every small business, and it is not suitable for companies that fall outside the micro-entities regime or that need a more detailed reporting basis for lenders, investors or group purposes.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Eligibility turns on size and on a set of rules and exclusions, not simply on being a small business. 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. Those figures are the starting point rather than the whole test. The size conditions have to be assessed correctly — for example, turnover and balance sheet total are looked at over the period, and average employee numbers are calculated on a specific basis — and certain types of company are excluded from the regime regardless of how small they are. Being part of a group that prepares consolidated accounts, being an investment undertaking, or operating in a regulated financial sector are common examples of where the regime may not be available. There are also rules about moving in and out of the regime from one year to the next. In other words, meeting the size thresholds does not automatically guarantee eligibility, and it certainly does not mean FRS 105 has to be used. If your company appears to qualify, the next question is whether applying the micro-entities regime and preparing FRS 105 Micro Entity Accounts in Llangollen is genuinely right for your circumstances — that is a decision worth making deliberately each year, with your figures in front of you.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts begins with your underlying records — bookkeeping, bank and cash records, sales and purchase information, payroll details, asset purchases and disposals, stock or work in progress where relevant, and any loans or director balances. From there, the accounts are built on the FRS 105 basis, which means applying the measurement rules of that framework consistently and preparing financial statements that are appropriate for a micro-entity. It is helpful to keep two things firmly separate: the preparation of the financial statements and their filing at Companies House are one strand, while Corporation Tax is a different strand altogether and is dealt with through a Company Tax Return (CT600) submitted to HMRC. The figures in the accounts and the figures in the tax return are related, but they are not the same document, they serve different purposes, and they can be filed on different timetables. Working with someone who is used to the micro-entities regime helps reduce the risk of avoidable errors, missing disclosures or inconsistencies between what is filed at Companies House and what is reported for tax, and gives you a clear record of how the numbers were arrived at.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Llangollen

If you run a small company in or around Llangollen and you think FRS 105 may suit your circumstances, the next step is a straightforward conversation. Tell us about your company — its accounting period, what it does, roughly what level of turnover it has, how many people it employs, whether it has any subsidiaries or unusual transactions, and how your records are currently kept. From there we can look properly at whether the micro-entities regime is available to you, whether FRS 105 is the sensible basis for your FRS 105 Micro Entity Accounts this year, and what information we would need to prepare them. We can also talk through how the accounts, your Companies House filing and your separate Corporation Tax position fit together, and outline clear, transparent pricing so there are no surprises. Get in touch to discuss your requirements.

─── 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 micro-entities. It sets out the accounting and disclosure requirements for very small companies, allowing a simplified balance sheet, a simplified profit and loss account and a much lighter set of notes than a fuller reporting framework would require. It sits alongside other UK standards rather than replacing them — it is simply the framework that applies when a qualifying company chooses to use the micro-entities regime.

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 not the same as being eligible automatically: the company must meet the applicable size conditions and must not be caught by any of the exclusions, such as being part of a group that prepares consolidated accounts, being an investment undertaking, or operating in a sector where the micro-entities regime is not available. Because the tests look at the company's figures over the period and sometimes over more than one year, it is worth checking them against your actual accounts rather than assuming.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an accounting regime that qualifying companies may choose to apply — it is not imposed on them. A qualifying company could, for example, decide to prepare its accounts under FRS 102 instead, which may be preferable if a bank, investor, group parent or other user wants more detail. What matters is that the basis chosen is appropriate to the company's circumstances and is applied consistently.

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 following 3 conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting 2 of the 3 is the usual starting point, but it is not the whole story — certain rules and exclusions can affect whether the micro-entities regime is actually available, so the size tests should be considered alongside those other requirements.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a broader UK accounting standard used by a wide range of companies, including small companies that are not micro-entities, and it permits more accounting policy choices. FRS 105 is narrower and simpler: it is designed specifically for the smallest companies, with fewer options and reduced disclosure. In practice, the choice between them affects how items such as revaluations, deferred tax and certain financial instruments are treated, and how much information appears in the notes. Neither is 'better' in the abstract — it depends on what the company needs from its accounts.

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

Where a company prepares FRS 105 Micro Entity Accounts, those financial statements generally need to be filed at Companies House as part of its annual accounts obligations. The filing is a separate submission from the company's Corporation Tax position. It is worth noting that the format in which accounts may be filed at Companies House has been changing, with a move towards filing in a structured digital format, so it is sensible to check the current requirements that apply to your accounting period and to prepare your records with that in mind.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework and filed at Companies House. A CT600 is the Company Tax Return submitted to HMRC to report profits and calculate Corporation Tax. The two are connected — the accounts inform the tax computation — but they are different documents with different purposes, and preparing FRS 105 financial statements does not by itself deal with your Corporation Tax obligations. Profit for accounting purposes and profit for tax purposes are not always the same figure, which is why both are usually prepared together but treated separately.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it meets the conditions for the micro-entities regime and chooses to apply it. New companies sometimes need a little more thought here: the first accounting period may be longer or shorter than 12 months, there may be pre-trading costs, share capital and director's loan movements to account for, and there may be no prior-year comparatives. Those points do not prevent FRS 105 being used, but they do need to be handled correctly, which is a good reason to talk through the position before the first accounts are drawn up.