─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Sleaford

If your company qualifies for the UK micro-entities regime, FRS 105 Micro Entity Accounts can give you a simpler, more proportionate way to report your financial position. FRS 105 is the financial reporting framework that applies when a qualifying micro-entity chooses to use that regime, and it is designed around the needs of very small companies rather than larger businesses with complex transactions. Preparing FRS 105 Micro Entity Accounts properly means working from your actual accounting records, applying the framework consistently, and presenting figures in the format expected of a micro-entity. For companies in Sleaford and the surrounding area, professional preparation can help ensure the accounts reflect your circumstances, are supported by your bookkeeping, and are ready for the next stage of your company filing. It is worth remembering that the micro-entities regime is a choice, and eligibility depends on the relevant size conditions and any applicable rules or exclusions — it is not automatic for every small company.

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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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   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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 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: The Micro-Entities Regime in Plain English

FRS 105 is the UK accounting standard that sets out how micro-entity financial statements should be prepared. In simple terms, it is the rulebook used when a company qualifies for the micro-entities regime and decides to apply it. The regime exists to reduce the reporting burden on very small companies, so FRS 105 allows a more streamlined approach to measuring and presenting figures, with fewer disclosures than the standards used by larger businesses. When you see FRS 105 Micro Entity Accounts, that means a set of annual accounts prepared under this framework — typically a simpler balance sheet, supporting notes where required, and a profit and loss account prepared on the basis the framework allows. It is important to understand that using FRS 105 is a choice available to qualifying companies, not something that applies to every small company by default. A company that qualifies could instead prepare accounts under another framework, such as FRS 102 Section 1A. For directors in Sleaford running a very small limited company, the practical benefit of FRS 105 is usually a clearer, shorter set of accounts that still meets the company’s reporting obligations.

Who Can Use FRS 105 in the UK?

FRS 105 is available to 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. Those conditions are the starting point, not the whole picture. Other eligibility rules and exclusions can apply depending on the type of company and its activities, which means meeting the size thresholds alone does not always guarantee that a company can use the micro-entities regime. There is also a separate question of choice: even where a company qualifies, it may use a different framework instead. For directors in Sleaford considering FRS 105 Micro Entity Accounts, the practical step is to review your company’s figures and circumstances together — including your turnover, balance sheet total, employee numbers and any previous accounts — before deciding whether FRS 105 is the right framework for the period.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your financial records: bookkeeping entries, bank and cash transactions, sales and purchase information, payroll data, and details of any assets or liabilities the company holds. From there, the figures are reviewed, adjusted where necessary, and presented in line with the requirements of FRS 105 as it applies to your company. Because the framework sets limits on what can be recognised and how items are measured, the way transactions are treated matters, and a small error in how something is recorded can affect the numbers reported. Professional preparation helps keep the accounts consistent with the underlying records and with the chosen framework. It is also important to keep two things separate in your mind. First, the annual accounts — including FRS 105 Micro Entity Accounts — are prepared for the company and normally delivered to Companies House as part of the company’s filing obligations. Second, the Corporation Tax position is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC, which starts from the company’s results but is a distinct filing with its own rules and deadlines. Good accounts preparation supports both processes, but neither one replaces the other.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you are a director of a small company in Sleaford and want to understand whether FRS 105 Micro Entity Accounts are the right route for your business, we are happy to talk it through. To assess your circumstances, it helps to have an overview of your company’s activities, your accounting records for the period, an indication of turnover, balance sheet total and average employee numbers, plus details of any previous accounts or filings. From there, we can explain how the micro-entities regime works, what the preparation process involves, how FRS 105 accounts sit alongside your Companies House filing and your separate Corporation Tax Return (CT600), and what information we would need to get started. Whether you are preparing accounts for the first time, switching to FRS 105 Micro Entity Accounts, or simply want a second opinion on your current approach, we offer clear, transparent pricing and a straightforward conversation about your options.

─── 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 micro-entity financial statements should be prepared, including how items are measured and which disclosures are required. The aim is to give very small companies a simpler framework than the standards used by larger businesses, while still producing accounts that fairly reflect the company's position for the period.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it — a company that meets the size conditions may still prefer to prepare accounts under another framework such as FRS 102 Section 1A. Certain companies are excluded from the micro-entities regime altogether, so eligibility depends on your company's specific circumstances as well as the size conditions.

Is FRS 105 compulsory for every micro-entity?

No. Applying the micro-entities regime is a choice. If your company qualifies, you can decide whether to prepare FRS 105 Micro Entity Accounts or use a different framework that your company is eligible for. The decision can affect the level of disclosure, how certain items are measured, and how the accounts look to lenders, customers or other users, so it is worth considering your circumstances rather than assuming there is only one option.

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 those conditions does not automatically guarantee eligibility, because other rules and exclusions can apply. It is also worth checking the position for earlier accounting periods, as different conditions applied before that date.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the more streamlined framework, designed specifically for micro-entities. FRS 102 is a broader standard, and Section 1A of FRS 102 is used by many small companies that do not apply the micro-entities regime. In practice, FRS 105 tends to involve simpler measurement rules and fewer disclosures than FRS 102 Section 1A, and it does not permit certain accounting treatments that FRS 102 allows. The right choice depends on your company's size, structure and reporting needs.

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

Annual accounts are normally delivered to Companies House as part of a company's filing obligations, and micro-entity accounts prepared under FRS 105 can be filed in that way. What you file should be consistent with the accounts prepared for the company and with the framework you have chosen. The exact filing requirements and any exemptions depend on your company's circumstances, so it is worth confirming the position for your specific case.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under an accounting framework. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with the company's tax position for the period. The tax return is usually prepared using figures from the accounts as a starting point, but it is a separate document with its own computations, adjustments and submission process. Completing one does not remove the need to deal with the other.

What changes are coming to micro-entity accounts filing?

Companies House has been introducing reforms to the way accounts are filed, including a move towards filing accounts using software rather than paper or simple online web forms, and changes to what smaller companies are expected to include when they file. Because these changes are being phased in over time, and the detail can affect what you submit, it is sensible to check the current requirements for your accounting period before filing FRS 105 Micro Entity Accounts, or to ask us to confirm how the rules apply to your company.