─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Silsoe

FRS 105 Micro Entity Accounts in Silsoe are prepared under the financial reporting framework designed for companies that qualify for the UK micro-entities regime and choose to apply it. FRS 105 is a shorter, simpler standard than the ones used by larger companies, but that does not mean the accounts prepare themselves. Balances still need to be reconciled, the presentation still has to follow the framework, and the figures must be consistent with the underlying records. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your company’s actual circumstances, are set out in line with the applicable requirements, and are ready for the relevant filing obligations. Whether you are preparing accounts for the first time or moving across from another framework, we can review your position and explain what is involved. Eligibility is not automatic — size tests and other rules apply.

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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 the Micro-Entities Regime Means for Your Company in Silsoe

FRS 105 is the UK financial reporting standard that applies to micro-entities. In plain terms, it is a stripped-back set of accounting rules for the smallest companies, allowing qualifying businesses to produce simpler financial statements than those prepared under FRS 102. FRS 105 sits alongside the micro-entities regime: a company must first qualify for that regime and then choose to apply it, and FRS 105 is the standard that governs how the accounts are then prepared. Typical simplifications include a shorter balance sheet format, limited note disclosures, and straightforward cost-based measurement rather than the revaluation and fair value options found elsewhere. For a small owner-managed company in Silsoe, that can mean less complexity and accounts that are easier to read. It is not the right fit for every company, though, which is why eligibility and any exclusions should always be checked before the regime is adopted.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and 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. For a company based in Silsoe, those conditions are usually tested against the company’s own figures, although the assessment works differently in a first accounting period. Meeting the size conditions is not the whole story. Certain companies are excluded from the regime, and group structures, regulated activities and other factors can affect whether FRS 105 is available at all. FRS 105 applies when the regime is chosen, so it is worth confirming your position rather than assuming — and considering whether a fuller framework such as FRS 102 would better suit your plans.

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 about more than filling in a template. The figures in your financial statements need to be built from accurate accounting records, with income and expenditure recognised in the correct period, debtors and creditors properly stated, and any disclosures required by the framework included. We prepare FRS 105 Micro Entity Accounts for companies in Silsoe and the surrounding area on exactly that basis, working from your records and the reporting requirements that apply to your company. Alongside the accounts themselves, we can help with the related obligations that usually sit next to them — filing your accounts at Companies House and preparing a Corporation Tax Return (CT600) for submission to HMRC. These are distinct requirements: the accounts are a financial reporting document, while the CT600 is a tax filing. Directors remain responsible for the information provided and for the accounts they approve.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Silsoe

If your company is considering FRS 105 Micro Entity Accounts, the sensible first step is a straightforward conversation. Tell us a little about your business — your accounting period, your turnover and balance sheet position, your employee numbers and how your records are currently kept — and we can assess whether the micro-entities regime is likely to be available to you and what preparation would involve. Whether you are a newly incorporated limited company in Silsoe, an established business moving from another reporting framework, or simply unsure whether your current accounts are on the right footing, get in touch. We will explain the process in plain English, set out what we need from you, and outline our fixed-fee options for FRS 105 Micro Entity Accounts so you know where you stand before any work begins.

─── 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 micro-entities. It sets out how qualifying companies prepare their financial statements once they have chosen to use the micro-entities regime, covering the format of the balance sheet and profit and loss account, the basis of measurement, and the limited disclosures required. It is a simpler framework than FRS 102, which is the standard most small and medium-sized companies use. FRS 105 applies only where a company both qualifies for the micro-entities regime and elects to apply it.

Who can use FRS 105?

FRS 105 is available to companies that meet the micro-entity size conditions and are not excluded by other rules — certain financial institutions, for example, and companies with ineligible group members may not qualify. 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. Meeting those size tests does not guarantee eligibility, so the full rules and any exclusions should be checked before the regime is adopted.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A company that qualifies for it can choose to apply FRS 105, or it can prepare accounts under FRS 102, including the reduced disclosure regime in Section 1A for small entities. Different frameworks suit different businesses — a company planning to raise finance, or one whose shareholders want fuller disclosure, may prefer a broader reporting basis. Once FRS 105 is adopted it should be applied consistently, and any subsequent change of framework is subject to the relevant rules.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main financial reporting standard used by UK companies that do not qualify for, or do not choose, the micro-entities regime, with Section 1A offering reduced disclosures for small companies. FRS 105 goes further: it is shorter, permits a simplified balance sheet format, requires far fewer notes, and keeps measurement straightforward, generally on a cost basis. FRS 102 allows more accounting options and calls for more disclosure, which can be useful where a business needs to show greater detail. In short, FRS 105 is the lightest-touch framework available, and it is open only to companies that qualify for and choose the micro-entities regime.

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

Yes. Choosing the micro-entities regime changes how the accounts are prepared, not whether they are filed. A company using FRS 105 will typically file its accounts at Companies House through the appropriate filing route, within the deadline that applies to its accounting period. Micro-entity accounts can be filed in a simplified format, and filing requirements continue to evolve, so it is worth confirming the current position each year. Filing the accounts at Companies House is separate from any tax filing obligations, which are dealt with by HMRC.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes — they are two different documents with two different purposes. FRS 105 Micro Entity Accounts are financial statements prepared under a specific accounting framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The accounts are often the starting point for the tax computation, but the two are prepared for different recipients and on different bases. Preparing and filing one does not automatically deal with the other.

Can a new limited company use FRS 105?

Possibly, but it is not automatic. A newly incorporated company needs to consider whether it meets the micro-entity size conditions and whether any exclusions apply; in a first accounting period the tests are generally assessed on a basis that reflects the shorter period. A business expecting modest turnover, a small balance sheet and only a few employees may well qualify, while a company with significant investment, group links or unusual transactions may not. It is worth checking before your first set of accounts is prepared.

What information is needed to prepare FRS 105 Micro Entity Accounts?

In most cases we need your accounting records for the period — bank statements, sales and purchase records, payroll information, and details of any assets, loans or balances outstanding at the year end — together with your previous year's accounts where relevant and confirmation of your accounting period. We will also ask about anything unusual, such as asset purchases, director's loans or one-off transactions, because those can affect how the figures are presented. With that information in hand, we can prepare the FRS 105 Micro Entity Accounts and explain what needs to happen next.