─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rhyl: Clear Reporting for Qualifying Micro-Entities

If your company qualifies for the UK micro-entities regime and you choose to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework that sits behind your annual accounts. FRS 105 is the standard designed specifically for qualifying micro-entities — it is simpler and shorter than the frameworks used by larger companies, and it produces financial statements based on the company’s financial records within that framework. Professional preparation helps you work through the practical detail: confirming whether the regime is available to your company, presenting the balance sheet and notes appropriately for a micro-entity, and making sure the resulting financial statements are consistent with the records you have kept. In Rhyl and across the surrounding area, we support directors of small limited companies who want their FRS 105 accounts prepared carefully for their particular circumstances, whether that is a first set of accounts after incorporation or an established trading pattern. Qualifying for the regime is not automatic, so we review your position rather than assuming FRS 105 applies, and we keep the accounts themselves clearly separated from your separate Corporation Tax and Confirmation Statement obligations.

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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. 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: What the Micro-Entities Regime Means in Practice

FRS 105 is the financial reporting standard that applies to UK companies using the micro-entities regime. In plain terms, it is the simplest set of accounts rules available to small limited companies, built around historical cost and a much shorter set of disclosure notes than the larger reporting frameworks. The micro-entities regime is an available accounting regime — it is not something every small company is required to use. A company that qualifies for the regime can choose to apply it, and when that choice is made, FRS 105 is the standard used to prepare the financial statements. Those financial statements normally include a balance sheet, a profit and loss account and a small number of supporting notes, prepared from the company’s bookkeeping and financial records. The appeal is straightforward: less complexity, less disclosure and financial statements that are easier for a director to read and understand. The trade-off is that the micro-entities framework gives you fewer options — for example, it does not allow revaluation or fair value accounting and requires a historical cost approach. If your company does not qualify, or if you prefer a fuller reporting framework for commercial reasons, FRS 102 or another applicable standard would instead be used.

Who Can Use FRS 105 in the UK? Companies That May Qualify for the Micro-Entities Regime

FRS 105 is available to UK companies that qualify for the 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 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. Those size conditions are the starting point, not the whole story. The regime is subject to other eligibility rules and exclusions, and some companies are excluded from using it whatever their figures look like — for example, where the company’s legal form or the nature of its activities falls outside the regime. That means meeting the size thresholds does not, on its own, guarantee that a company can use FRS 105. In Rhyl and elsewhere, the sensible approach for directors is to have eligibility reviewed against the specific company’s circumstances and the accounting period in question, then make a deliberate choice about whether to apply the micro-entities regime or to prepare accounts under a fuller framework instead.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is largely about getting the detail right against your own records. We start from the company’s bookkeeping, bank records, sales and purchase information, asset details and any relevant agreements, then work through the figures to build a balance sheet, profit and loss account and notes that reflect the micro-entity framework. That includes checking the classifications you have used, confirming the disclosure requirements that apply to your circumstances, and making sure the numbers in the financial statements agree back to the underlying records. Preparation of the financial statements and filing them with Companies House are handled as one part of the process, while Corporation Tax is a separate exercise — a CT600 is submitted to HMRC and is not the same thing as your FRS 105 accounts, even though both draw on similar information. Keeping those two workstreams distinct helps avoid the common confusion between accounts filed at Companies House and the tax return filed with HMRC. We cannot guarantee any particular outcome, and filing accounts does not amount to approval or endorsement by any authority, but we can apply careful, methodical work to your figures so that your FRS 105 Micro Entity Accounts are prepared on a consistent and considered basis.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Rhyl

If you would like support with FRS 105 Micro Entity Accounts for your company in Rhyl, the best next step is a conversation about your circumstances. Tell us about your company, its trading activity and the accounting regime you have used previously, and share the records you hold — bookkeeping, bank statements, invoices, asset details, loan agreements and anything else that affects the figures. With that information we can assess whether the micro-entities regime is likely to be available to your company and explain what preparation of FRS 105 financial statements would involve, how the Companies House filing fits alongside your separate Corporation Tax obligations, and what information we would still need from you. Whether you are filing for the first time, moving across from another framework or simply want a second opinion on how your accounts are being presented, we are happy to talk through the options before you commit to anything.

─── 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 used by companies that apply the micro-entities regime. It sets out how the financial statements of a qualifying micro-entity are prepared, including the form of the balance sheet and profit and loss account and the limited notes that accompany them. It is deliberately simpler than the frameworks used by larger companies, and it works on a historical cost basis, so things such as revaluation and fair value adjustments are not available.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size conditions as well as the wider eligibility rules, and there are exclusions that can rule a company out even if it looks small on paper. Meeting the size conditions alone does not automatically mean the regime is available, so eligibility should be checked against your company's specific position rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies for it may choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies instead prepare accounts under a fuller framework such as FRS 102, for example because a lender, investor or group structure prefers a more detailed set of financial statements.

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. These are size conditions only. Other rules and exclusions also apply, and certain companies are prevented from using the regime regardless of size, so the criteria need to be considered alongside your company's particular circumstances.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they suit different companies. FRS 105 is the micro-entities standard: short, historical cost based and with minimal disclosure. FRS 102 is the wider standard for small and other entities, and it offers more accounting options — such as revaluation of certain assets, fair value measurement in some cases and deferred tax — along with a fuller set of disclosure notes. Choosing between them is about which regime your company qualifies for and which framework is most appropriate for how the business is run and financed.

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

A company's annual accounts, including FRS 105 Micro Entity Accounts, are normally filed at Companies House as part of the company's statutory filing obligations, alongside a separate Confirmation Statement. Filing the accounts is a distinct requirement from filing a Corporation Tax Return. We prepare the financial statements and can support the Companies House filing, but filing should be completed within the deadline set by the applicable rules for your accounting period.

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

Yes. FRS 105 accounts are the company's financial statements prepared under the micro-entities framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted separately to HMRC to report the company's taxable profits and calculate the tax due. They draw on similar underlying information, but they are different documents with different purposes, different recipients and different filing processes, so both need to be dealt with.

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 — being new does not by itself prevent it, and neither does being new automatically mean it qualifies. In the first period a company may trade for only part of the year, and the size conditions still need to be considered properly. It is worth reviewing the position early so that your bookkeeping and records are set up in a way that supports micro-entity financial statements from the outset.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, details of fixed assets and any additions or disposals, loan and finance agreements, stock or work in progress figures where relevant, and details of any amounts owed to or by the company at the period end. Directors' loan account movements and share capital details are also useful. The better the records, the more straightforward the preparation of the financial statements tends to be.

What changes are coming to micro-entity accounts filing?

Companies House has been introducing reforms that affect how accounts are filed, with a move towards filing in software and digital formats, and there has been consultation on requiring more information from small and micro-entity companies — including the possibility of filing profit and loss information alongside the balance sheet. Because the detail and timing of these changes can be updated, it is worth checking the current requirements for your filing period rather than relying on how accounts were filed in previous years.