─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Oakham

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. For a small company in Oakham, that framework can mean shorter, simpler financial statements than those prepared under a fuller reporting standard — but the accounts still need to reflect the company’s transactions accurately and be prepared in line with the applicable reporting requirements. Professional preparation starts with a review of your bookkeeping, your company’s circumstances and the accounting period in question, so that the format, disclosures and figures are appropriate for your business. We look at whether the micro-entities regime is genuinely suitable for your company, how the accounts interact with your other filing obligations, and what information is needed before anything is finalised. Eligibility is not automatic, and it is not simply a matter of being a small company — the relevant size conditions and any exclusions must be considered carefully for each accounting period.

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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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   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: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard that sets out how qualifying micro-entities prepare their annual financial statements when they choose to use the micro-entities regime. In plain terms, it is the simplest of the UK accounting frameworks: it is built around historical cost, it limits what has to be disclosed, and it reduces the amount of note information that would otherwise appear in a set of accounts. FRS 105 sits alongside the micro-entities regime rather than replacing it — a company first needs to qualify for that regime, and then decides whether to apply it. If the regime is applied, FRS 105 is the standard used to produce the accounts. That choice is not automatic, and it is not always the right one: it affects how figures such as fair values and deferred tax are treated, and it constrains the accounting policies available. For an Oakham company weighing up its options, the practical questions are whether it meets the qualifying conditions, whether the resulting accounts still tell a fair and useful story about the business, and what that means for lenders, investors or anyone else who reads the figures.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Eligibility is set by reference to size, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the 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 thresholds are a starting point rather than the whole picture. The relevant rules also include exclusions and additional conditions, which means a company that sits comfortably within the size limits may still be outside the regime — for example because of the type of entity it is or what it does. Equally, a company that qualifies is never obliged to use the regime. For a business in Oakham, the practical position is that qualification needs to be assessed for the specific accounting period, taking account of the company’s structure, activities and the way the conditions apply to it, and the decision to apply the micro-entities regime should be made deliberately rather than assumed.

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 Micro Entity Accounts

Preparing FRS 105 Micro Entity Accounts properly means working from reliable financial records and applying the framework consistently to your company’s own circumstances. In practice, that involves reviewing your bookkeeping and supporting documents, confirming the accounting period and the basis of preparation, and building the financial statements — typically a small set of primary statements with limited notes — so that the figures presented are supported and internally consistent. We then handle the separate Companies House filing of those accounts, keeping it distinct from your other obligations. It is worth being clear about the boundaries here: your annual accounts and your Corporation Tax Return (CT600) are not the same thing. The accounts are prepared under the chosen accounting framework and filed at Companies House, while the CT600 is a Corporation Tax filing submitted separately to HMRC, using the accounts as a starting point but following tax rules rather than the accounting standard. A Confirmation Statement is a further, separate filing. Preparation work is carried out carefully against the applicable reporting requirements, but no one can guarantee a particular filing outcome — what we can do is prepare the accounts on a sound, well-documented basis and explain the judgements involved.

ICAEW

ACCA

AAT

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

If you run a company in or around Oakham and want to know whether FRS 105 Micro Entity Accounts are the right route for your next set of financial statements, get in touch and let’s talk it through. Tell us about your company — its activities, how it is structured, who relies on the accounts, and what your current bookkeeping looks like — and we can assess whether the micro-entities regime is likely to be available and suitable for your circumstances. It also helps to know your accounting period dates, any changes in the business during the year, and whether you have existing accounts or a previous accountant we should work from. From there we can explain the options clearly, set out what information we need, and outline how the preparation and filing process will work, with clear, transparent pricing rather than vague estimates.

─── 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 qualifying micro-entities that choose to apply the micro-entities regime. It is a simplified, historical-cost-based framework that reduces the disclosures and note requirements compared with fuller standards. When a company applies the micro-entities regime, FRS 105 is the standard used to prepare its annual financial statements.

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and decide to apply it. Qualifying is not simply a matter of being a small business — the company must meet the size conditions for the accounting period in question and must not fall within any of the relevant exclusions. Because the rules can be affected by the company's structure and activities, eligibility is best confirmed case by case before the accounts are prepared.

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 applies, or it may instead prepare accounts under a different framework. The decision can be influenced by what the accounts are used for, the accounting policies a company wants to apply, and the expectations of lenders or investors.

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. Meeting the size conditions is not the whole test — other eligibility rules and exclusions can apply, so the criteria need to be checked against your company's specific circumstances.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they differ in complexity and in what they allow. FRS 102 is the standard used by a much wider range of companies and permits, or requires, treatments such as fair value accounting and deferred tax in certain situations, along with more extensive disclosures. FRS 105 is the simpler micro-entities framework, built on historical cost with far fewer disclosure requirements. The choice affects how figures are measured and how much detail appears in the accounts.

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

Yes — the annual accounts are filed at Companies House, and the fact that they are prepared under FRS 105 does not remove that obligation. The accounts are filed separately from your Corporation Tax Return (CT600), which goes to HMRC, and separately again from your Confirmation Statement. It is worth keeping those three obligations clearly in view, because they have different purposes even though they draw on some of the same underlying information.

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

Yes, they are separate. Your FRS 105 Micro Entity Accounts are prepared under the accounting framework and filed at Companies House. A CT600 is a Corporation Tax filing submitted to HMRC, and it follows tax legislation rather than the accounting standard. The accounts usually provide the starting point for the tax computation, but adjustments are often needed, so the two documents should not be treated as interchangeable.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. In practice, the size conditions for a first period are considered on the basis of that period, and any relevant exclusions still need to be checked. Because a first set of accounts often has its own quirks — share capital, start-up costs, a short or long first period — it is sensible to confirm the position before preparation begins.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping records or accounting software access, bank statements, sales and purchase records, payroll information if you employ staff, details of any fixed assets and loans, and the previous year's accounts where they exist. It also helps to know your accounting period dates, any significant transactions or changes during the year, and who will be relying on the accounts. The more complete the records, the more straightforward the preparation tends to be.