─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Pembroke

If your company is based in Pembroke and you are looking for straightforward, well-prepared FRS 105 Micro Entity Accounts, we can help. FRS 105 provides the financial reporting framework that applies to qualifying micro-entities that choose to adopt the UK micro-entities regime. Preparation involves more than simply entering figures into a template: the accounts need to reflect your company’s actual transactions, assets, liabilities and accounting policies, and to be presented in the format required for micro-entity financial statements. We work through your records, clarify anything that is unclear, and prepare FRS 105 Micro Entity Accounts that are tailored to your company’s circumstances. Eligibility is not automatic, so we also look at whether the micro-entities regime is available to you before preparation begins.

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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 financial reporting standard that sets out how micro-entity accounts should be prepared when a qualifying company chooses to apply the UK micro-entities regime. In simple terms, it offers a simplified way of producing annual financial statements. It works on a historical cost basis, which means assets and liabilities are generally recorded at their original cost rather than being revalued or measured at fair value, and it requires fewer disclosures than the fuller standards used by larger companies. A typical set of FRS 105 Micro Entity Accounts includes a micro-entity balance sheet, a profit and loss account (or an abridged version where the option is taken), and limited notes. Importantly, the regime is a choice: qualifying companies can decide to use it, and FRS 105 applies only when that choice is made.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK 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. Different thresholds applied to earlier periods, so the test depends on when the accounting period begins. The size conditions are only part of the picture, however. Certain types of company are excluded from the regime, and the rules around group membership, first periods and changes in size can all affect whether the regime is available for a particular year. The practical route is to assess eligibility against the rules that apply to your company and its accounting period, rather than assuming that a set of figures automatically means FRS 105 applies.

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

Accurate financial reporting starts with accurate records, and that is where professional preparation adds real value. We prepare FRS 105 Micro Entity Accounts for companies in Pembroke from the accounting records and supporting information you provide, applying the recognition, measurement and presentation rules that are relevant to your circumstances. That includes checking that the figures agree to your bookkeeping, considering how items such as fixed assets, stock, debtors, creditors and director’s loans should be treated, and preparing the micro-entity balance sheet and supporting notes in the expected format. The financial statements themselves are then filed at Companies House where required, which is a separate process from your Corporation Tax obligations. A company’s Corporation Tax Return (CT600) is submitted to HMRC and reflects the tax position, not the accounts framework, so we keep the two clearly distinct and explain what is needed for each.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

Whether you are preparing to file for the first time, moving across from a different reporting framework, or simply want your FRS 105 Micro Entity Accounts handled properly, the next step is a conversation. Tell us about your company, its accounting period, the records you hold and how you currently keep your books, and we can assess whether the micro-entities regime looks suitable for your circumstances and explain what is involved. Clear, transparent pricing and practical guidance on what information we need are part of the service. Get in touch with our team to discuss your FRS 105 Micro Entity Accounts requirements in Pembroke and to arrange the support that fits your company.

─── 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 a simplified basis for preparing annual financial statements, using historical cost rather than fair value or revaluation, and requiring fewer disclosures than standards such as FRS 102. It applies when a company qualifies for the micro-entities regime and chooses to adopt it, and the resulting statements are usually referred to as FRS 105 Micro Entity Accounts.

Who can use FRS 105?

It is intended for companies that fall within the UK micro-entities regime and decide to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of these 3 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. Other eligibility rules and exclusions can apply, so meeting the size conditions does not by itself guarantee that the regime is available.

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, and FRS 105 applies when that choice is made. Some qualifying companies instead prepare accounts under a different framework, for example FRS 102, because of the way their business is structured or because of what their users need from the accounts.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are built for different sizes of company. FRS 105 is the most simplified option: it uses a historical cost basis and permits relatively brief disclosures. FRS 102 is a fuller framework, with more detailed recognition, measurement and disclosure requirements, and is commonly used by small companies under the small entities provisions. The framework chosen affects how items are measured and how much is disclosed in the accounts.

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

Where a company prepares micro-entity accounts and is required to file annual accounts, those accounts are filed at Companies House within the applicable filing period. Filing the accounts is a separate exercise from dealing with Corporation Tax. Rules around how accounts are delivered to Companies House continue to evolve, including a move towards filing using software, so it is worth confirming the current requirements for your company before the filing date.

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

Yes. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities accounting framework. The CT600 is a separate Corporation Tax filing that is submitted to HMRC and reports the company's tax position for the period. The accounts and the tax return often draw on the same underlying records, but they serve different purposes, go to different bodies and can involve different adjustments.

What information is needed to prepare FRS 105 accounts?

It helps to have complete bookkeeping for the period, including sales and purchase records, bank and credit card statements, expense receipts, payroll information if you employ anyone, and details of any loans or financing. We also need information on assets owned, stock held, amounts owed to and by the company, and director's loan movements. If accounts have been prepared before, the previous year's figures are useful for comparison purposes, along with details of any changes in the business during the year.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it for that period. First accounting periods can be longer than twelve months, and where that happens the size thresholds are generally adjusted to reflect the length of the period, so the position is not always the same as for a full year. It is worth reviewing eligibility before the first set of accounts is prepared.