─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Louth

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify as micro-entities and choose to apply the micro-entities regime. For smaller limited companies in Louth, FRS 105 can offer a simpler, more proportionate basis for preparing annual financial statements, with a reduced set of disclosure requirements compared with the frameworks used by larger businesses. Professional preparation of FRS 105 Micro Entity Accounts starts with looking at your company’s own circumstances — its accounting period, its size against the qualifying conditions, and any rules or exclusions that may affect which regime it can use — and then building the accounts from your financial records so they reflect the company’s position clearly and accurately. Eligibility is not automatic, and applying the micro-entities regime is a choice rather than an obligation. Our role is to help you understand where your company stands and to prepare FRS 105 accounts that are appropriate to its circumstances, with the figures properly supported from the outset.

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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 
    
 
 
 
   
 
 
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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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   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 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 plain terms, it is the rulebook that sets out how those companies prepare their annual financial statements and what they need to disclose. Compared with the framework used by larger companies, FRS 105 is deliberately pared back: it takes a simpler, cost-based approach to measuring items and requires far less supporting detail in the notes. For a qualifying company in Louth, that can mean annual accounts that are quicker to put together and easier for a reader to follow, while still setting out the business’s position for the period. Two points are worth keeping in mind. First, the micro-entities regime is an available regime, not a compulsory one — a qualifying company can choose to apply it. Second, FRS 105 applies when that choice is made, and it governs how the financial statements are prepared; it does not remove the company’s other responsibilities, such as maintaining proper accounting records and meeting its separate filing obligations. If you are unsure whether FRS 105 suits your company, it is worth talking through the options.

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. 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 size tests is the starting point rather than the whole story, because other eligibility rules and exclusions form part of the regime and can prevent certain companies from using it regardless of how small they are. It is also worth remembering that a qualifying company is not required to apply the micro-entities regime — it can choose a different framework — so FRS 105 applies as a result of that decision. Because eligibility turns on the individual company’s circumstances, the sensible approach for a business in Louth is to check the position for its own accounting period, particularly where turnover or headcount sits close to a limit or the business has changed shape during the year.

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 is largely about getting the detail right. We work from your company’s financial records — bank statements and reconciliations, sales and purchase information, payroll data, and details of assets, liabilities and any director’s transactions — to build a set of financial statements that reflects the trading position of the business for the period. That typically covers the statement of financial position, the notes required under FRS 105, and the supporting schedules behind the figures, so that each number in the accounts can be traced back to something. Where the accounts are to be filed at Companies House, we can prepare them in the format required for a micro-entity and help with the filing itself, which is a separate process from your tax obligations. Your Corporation Tax Return (CT600) is submitted to HMRC rather than Companies House, and the profit figures used for tax need to be considered on their own terms. Throughout, the aim is accurate, well-supported reporting based on your records and the applicable requirements — not a promise about how any third party will respond to what is filed.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Louth

If your company may qualify for the micro-entities regime, or you would simply like to understand whether FRS 105 is the right fit, get in touch to discuss your FRS 105 Micro Entity Accounts. Tell us a little about your company — its year end, how the books are kept, whether this is your first set of accounts, and anything that has changed during the period — and we can review the position and explain the options open to you. Whether you are preparing micro-entity accounts for the first time, moving across from another reporting framework, or want an existing set of figures checked over before filing, we are happy to help and to set out clearly what we need from you.

─── 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 sets out how a qualifying company that applies the micro-entities regime prepares its annual financial statements — what the accounts must include, how items are measured, and what has to be disclosed in the notes. It is a simplified framework compared with the standards used by larger companies and is designed to be proportionate to the smallest businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and choose to apply the micro-entities regime. Qualifying depends on the size conditions for the relevant accounting period, together with the wider eligibility rules and exclusions that form part of the regime. A company that qualifies is not obliged to use FRS 105 — it can elect to report under a different framework — so the standard applies because of a choice rather than automatically.

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 qualifying conditions may apply it, and FRS 105 then governs how its accounts are prepared, but a qualifying company can equally choose to report under another framework such as FRS 102 or FRS 102 Section 1A. The right answer usually depends on the company itself, who relies on the accounts, and what the figures are being used for.

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 during the period. Those are the headline size tests, and other rules and exclusions can affect whether a particular company can use the regime, so it is worth checking your own figures for your accounting period rather than assuming.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the financial reporting standard used by a much broader range of UK companies, including small companies that do not qualify for the micro-entities regime or choose not to apply it. The practical differences come down to detail and measurement approach: FRS 105 is a simpler, more restricted framework with fewer disclosure requirements, while FRS 102 permits more accounting options and calls for considerably more note disclosure. Which standard applies to your company depends on its size and the regime it chooses to apply.

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

If the company is required to file annual accounts at Companies House, then yes — the accounts prepared under FRS 105 are the ones that get filed, using the filing option available to a micro-entity. Filing is a separate step from preparing the accounts, and the format and deadline depend on the company's circumstances, with the accounts usually approved by the directors beforehand. Filing accounts at Companies House is not the same thing as filing a tax return.

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 regime and filed at Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and work out the tax due. The two are connected because the accounts inform the tax position, but they are prepared for different purposes and go to different bodies.

What information is needed to prepare FRS 105 accounts?

Typically we need the company's accounting records for the period: bank statements and reconciliations, sales and purchase records, details of assets and liabilities held at the period end, payroll or employee information, and records of any loans, director's transactions or expenses. If a previous set of accounts exists, that helps with comparatives. Once we can see the records, we can assess the position and explain what else, if anything, is needed.