─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 provides the financial reporting framework used to prepare your annual accounts. FRS 105 Micro Entity Accounts in Salisbury are prepared for qualifying companies that want their statutory accounts to reflect the simpler measurement and reduced disclosure requirements the micro-entities regime allows, while still presenting a true and fair view of the company’s financial position. Professional preparation helps ensure the accounts are built up correctly from your accounting records, that the right framework is applied to your circumstances, and that the figures are consistent with the information you report elsewhere. It also gives you a clear picture of your balance sheet and results, which is useful for making decisions about the year ahead. Because eligibility depends on a range of size and other conditions — not simply on the company being small — the sensible first step is a conversation about whether the micro-entities regime is available to you and whether FRS 105 is the right choice.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

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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.

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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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime and Your Annual Accounts

FRS 105 is the UK financial reporting standard that sits alongside the micro-entities regime. In plain terms, it is the rulebook used to prepare the annual accounts of companies that qualify as micro-entities and decide to apply that regime. The idea behind it is simplification: fewer disclosures, simpler measurement of assets and liabilities, and a set of financial statements that is easier and less costly to produce than accounts prepared under a fuller framework such as FRS 102. A typical set of FRS 105 Micro Entity Accounts in Salisbury will include a balance sheet, a profit and loss account (which micro-entities can often omit from the version filed at Companies House), and a small number of supporting notes. A key point to understand is that the micro-entities regime is a choice, not an automatic entitlement. A company must qualify for it, and where a qualifying company chooses to use it, FRS 105 is the standard that applies. If the regime is not chosen, or the company does not qualify, a different framework will be needed. Getting that decision right at the outset shapes how your accounts are prepared and what they show.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime in Salisbury

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. The size conditions are the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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 thresholds, however, is not the whole test. The micro-entities regime has its own scope rules and exclusions, and certain types of company and certain circumstances fall outside it altogether. There are also rules about how the conditions are assessed, including how turnover and employee numbers are calculated and how companies that sit just above or below a threshold are treated. For a Salisbury company, the practical answer is that eligibility should be confirmed against your own figures and circumstances rather than assumed — and where a company qualifies, the decision to apply the micro-entities regime (and therefore FRS 105) is a choice you make, not something that is imposed on you.

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 for Salisbury Companies

FRS 105 accounts are only as reliable as the records and judgments behind them. Our approach is to work from your underlying financial records — bookkeeping, bank transactions, sales and purchase information, payroll data, asset purchases, loans and any previous accounts — and then prepare a set of financial statements that is consistent with the requirements of the micro-entities regime as it applies to your company. That means applying the correct measurement bases, keeping disclosures to the level the framework requires, and making sure the balance sheet reconciles properly. It also means being clear about the boundaries between the different things you have to do as a company: preparing and filing your annual accounts with Companies House is one obligation, while your Corporation Tax Return (CT600) is a separate submission made to HMRC, with its own adjustments, deadlines and information requirements. A Confirmation Statement is different again. Preparing FRS 105 Micro Entity Accounts in Salisbury properly gives you a coherent set of figures that you and any other advisers can rely on, and a clearer view of where the company stands.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Salisbury

If you would like your annual accounts prepared under the micro-entities regime, or you simply want to know whether FRS 105 is the right framework for your company, get in touch. Tell us about your company — its trading activity, its accounting reference date, whether this is a first set of accounts, and the records you already hold — and we can review the position and explain what is involved in preparing your FRS 105 Micro Entity Accounts. We will also be clear about where the accounts sit alongside your other filing obligations, so you know what needs to be done and by whom. Talk to us about your FRS 105 Micro Entity Accounts requirements and we will help you work out the most appropriate next step for your circumstances.

─── 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 that applies to companies using the micro-entities regime. It sets out how the annual accounts of a qualifying micro-entity are measured and presented, and it is deliberately more straightforward than fuller frameworks, with simpler measurement rules and far fewer disclosure requirements. Where a company qualifies for the micro-entities regime and decides to use it, FRS 105 is the framework used to produce its statutory accounts.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is not automatic and depends on more than size alone — certain company types and circumstances are excluded from the regime. In practice, most companies that use FRS 105 are small, owner-managed businesses such as those we work with across Salisbury, but the only way to be confident is to check your company's specific position against the current rules.

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 for it can choose to apply it, and if it does, FRS 105 is the standard that must be used. A qualifying company may instead choose a fuller framework, such as FRS 102. The choice affects disclosure levels, how certain items are measured, and how much preparation work the accounts involve, so it is worth considering deliberately rather than by default.

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 following 3 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. That is the size test only. Other eligibility rules and exclusions also apply, which is why meeting two out of three conditions does not on its own guarantee that the micro-entities regime is available to your company.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting frameworks, but they suit different sizes and needs. FRS 105 is the micro-entities standard: simpler measurement, fewer accounting policy choices and minimal disclosures. FRS 102 is a fuller framework, and the small-entity version of it (Section 1A) still requires more note disclosures and allows more sophisticated accounting treatments. Moving between them can change reported figures, so the framework should be chosen with your circumstances — and any users of the accounts — in mind.

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

Yes. Any company required to file annual accounts must do so, and a company using the micro-entities regime files micro-entity accounts prepared under FRS 105. Micro-entity accounts can typically be filed in a simplified form, and the profit and loss account is often not required in the version filed. Your filing deadline depends on your accounting reference date and whether these are first accounts, so it is worth confirming your specific date before you plan the work.

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

Yes, they are two distinct obligations. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which starts from your accounts but applies tax-specific adjustments and follows its own rules and deadlines. Preparing the accounts does not file the CT600, and filing the CT600 does not satisfy your accounts filing obligation.

What information is needed to prepare FRS 105 accounts?

We generally need your accounting records for the period, such as bookkeeping or ledgers, bank statements and reconciliations, sales and purchase information, payroll data, details of asset purchases and disposals, loan and lease information, stock or work-in-progress figures where relevant, and the previous year's accounts. For a first set of accounts, details of the company's incorporation and opening position are also helpful. The more complete the records, the smoother the preparation process — and if your records need tidying up first, that can usually be arranged.