─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Meifod

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies when a qualifying company chooses to use the UK micro-entities regime. For directors in Meifod running a small limited company, that choice can simplify the financial statements considerably, but it still needs to be made deliberately and applied correctly. FRS 105 accounts must reflect the company’s actual transactions and balances, use the permitted measurement bases, and include the disclosures the framework requires — no more and no less. Professional preparation helps ensure the figures are consistent with the underlying records, that the accounts are presented in the right format, and that anything unusual in the year is handled sensibly. It also helps you understand what the accounts are telling you, rather than simply receiving a set of documents. Not every small company qualifies for the micro-entities regime, and eligibility depends on the size conditions and any relevant exclusions, so the starting point is always a conversation about your specific circumstances. If you are a director in or around Meifod looking for FRS 105 Micro Entity Accounts prepared with care and explained in plain English, we can help you work through what applies to your company.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 Micro-Entities Reporting Framework

In simple terms, FRS 105 is the UK accounting standard written specifically for micro-entities — the smallest companies within the UK’s company reporting system. It sits alongside the micro-entities regime, which is a set of rules that allows qualifying companies to prepare simpler financial statements than larger companies. Choosing the micro-entities regime and applying FRS 105 go together: where a company qualifies and its directors decide to use the regime, FRS 105 is the framework that shapes the accounts. Under FRS 105, the financial statements are typically shorter and more straightforward. The focus is on the balance sheet, a profit and loss account, and a limited set of notes, with fewer of the disclosures that larger frameworks demand. Certain measurement simplifications also apply, which can make the numbers easier to follow for a director who wants a clear picture without a lengthy technical document. What FRS 105 is not is a tax return or a filing shortcut in itself. It deals with how the accounts are prepared and presented, not with how much Corporation Tax is due. Directors in Meifod considering FRS 105 Micro Entity Accounts should also remember that the framework is a choice available to qualifying companies, not something automatically applied to every small business. Checking eligibility and confirming the right approach before the year-end accounts are drawn up is usually far easier than trying to change course afterwards.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not the same as being required — the regime is available to those companies that meet the conditions, and it is the directors’ choice whether to use it or to prepare accounts under a different framework. 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. Meeting at least 2 of those 3 is the usual starting point, but it is not the end of the assessment. Other eligibility rules apply, and certain companies are excluded from the micro-entities regime altogether, whatever their size. Companies that are part of a group, entities that fall outside the definition of a micro-entity, and businesses carrying on particular types of activity may all need closer checking. It is also worth noting that the conditions are assessed by reference to the accounting period in question and, in some cases, to previous periods, so a company that was eligible last year is not automatically eligible this year. For directors in Meifod, the sensible approach is to review the specific facts — the accounting period dates, the turnover and balance sheet figures, the average number of employees, and whether any exclusion applies — before deciding that FRS 105 Micro Entity Accounts are appropriate. Where the position is unclear, it is better to look at it properly than to assume eligibility and find the framework does not 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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records — bank transactions, sales and purchase information, payroll details, asset purchases, loans and any other items that affect the company’s position. From there, the figures are brought together into financial statements prepared in line with FRS 105 and the applicable reporting requirements for the period. That work includes getting the balance sheet and profit and loss account to agree with the underlying records, applying the measurement rules the framework permits, and making sure any disclosures that are required are present and accurate. It is also important to keep two things clearly separate. Preparing and filing the company’s accounts with Companies House is one obligation; working out and submitting the Corporation Tax position, usually through a CT600, is a different one handled with HMRC on a different basis and to a different timetable. A Confirmation Statement is a further, separate filing. Good preparation means each of these is dealt with on its own terms, with the accounts and the tax figures properly reconciled so they tell a consistent story. Where estimates or judgements are needed, they should be reasonable and documented. Where transactions are unusual, they should be reflected accurately rather than forced into a template. We prepare FRS 105 Micro Entity Accounts grounded in your records and explain what has been done, so directors in Meifod can review the position with confidence and ask questions before anything is finalised.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Meifod

If you are a director in Meifod wondering whether FRS 105 Micro Entity Accounts are the right fit for your company, the most useful next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, roughly how it has performed, and what you already have in the way of records — and we can look at whether the micro-entities regime appears to apply and what would be involved in preparing the accounts. It also helps to have a sense of what else is on your plate, such as the Corporation Tax position or an upcoming Companies House filing, so nothing is left to the last minute. Bring your questions, including the awkward ones about eligibility, disclosures or how the accounts will look. We offer clear, transparent pricing and will explain the scope of the work before you commit, so you know what you are agreeing to. Whether you are a new company filing for the first time, an established business reviewing its current arrangements, or a director who simply wants the accounts explained in plain English, we are happy to help you assess your FRS 105 Micro Entity Accounts requirements and decide how to move forward.

─── 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 the smallest qualifying companies prepare and present their financial statements when they choose to apply the micro-entities regime. Compared with the framework used by larger companies, it involves a shorter set of financial statements and a reduced level of disclosure, along with some simplifications in how items are measured. It deals with accounting and reporting — not with how much tax a company owes.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for companies that qualify, not a mandatory one. A qualifying company can choose to apply it, in which case FRS 105 shapes the accounts, or it can prepare accounts under a different framework such as FRS 102. The decision is normally made by the directors, and it is worth considering whether the simpler presentation is genuinely suitable for your company's circumstances before committing to it.

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. Meeting those size conditions is not the whole story — other eligibility rules and exclusions can apply, and some companies are prevented from using the regime regardless of their size. Eligibility therefore needs to be checked against your company's specific position rather than assumed.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they are aimed at different sizes of company. FRS 105 is the lighter framework for qualifying micro-entities, with simpler financial statements, fewer disclosures and certain measurement simplifications. FRS 102 is a more detailed framework used by a much wider range of companies, including small and medium-sized businesses, and it requires more disclosure and generally more work to prepare. A company that does not qualify for, or does not choose, the micro-entities regime will usually 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, those accounts form the basis of the company's annual accounts filing obligation with Companies House, subject to the filing requirements that apply to that company. Filing accounts is distinct from the Corporation Tax position, which is handled with HMRC, and both are separate from the Confirmation Statement. The format and content of what gets filed should match the accounts that have actually been prepared and approved by the directors.

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

Yes — they are two different things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities framework and forming the basis of the accounts filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable position. They are prepared on different bases and go to different bodies, although the accounts and the tax computation should be consistent with one another, which is one reason it helps to deal with both together.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and the directors choose to apply it. In the first period, size conditions are assessed using the rules that apply to a company's first accounting period, which are not always identical to those for an established business. There are also exclusions that can rule the regime out regardless of size. Because of this, it is worth checking the position before the first set of accounts is drawn up rather than assuming it will apply.

What information is needed to prepare FRS 105 accounts?

In broad terms, we need your complete financial records for the period: bank and credit card statements, sales and purchase records, payroll information, details of any assets bought or sold, loan and finance agreements, and anything unusual that happened during the year. It also helps to know about any changes in the business, such as a new trade, a change of accounting period, or a decision that affects how the figures should be treated. The more complete and organised the records are, the more straightforward the preparation tends to be.

What changes are coming to micro-entity accounts filing?

Company reporting requirements in the UK have been under review, and changes to how accounts are filed — including the way smaller companies submit information to Companies House — have been introduced or consulted on in recent years. The practical effect is that directors should not assume last year's approach will automatically be right for this year, particularly regarding the format and detail of what is filed. Because the position can change, it is worth confirming the current requirements for your accounting period when you are ready to prepare your FRS 105 Micro Entity Accounts.