─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Spilsby

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your annual accounts. FRS 105 is the simplest of the UK accounting standards, built around a historic cost basis and streamlined disclosure requirements, which makes it well suited to very small companies that want straightforward, uncomplicated financial statements. That said, simplicity does not remove the need for care. Every set of FRS 105 Micro Entity Accounts in Spilsby should reflect the company’s own transactions, balances and circumstances, and should be prepared in line with the applicable reporting requirements rather than copied from a template. Professional preparation helps you work through the practical points — how income and expenses are recognised, how fixed assets and debtors are treated, what disclosures are required, and how the figures translate onto the balance sheet and profit and loss account in the required format. It also helps you keep the accounts themselves separate from your other obligations, such as your Corporation Tax Return and your Confirmation Statement, which are dealt with under different rules and sent to different bodies. Whether you are preparing micro-entity accounts for the first time or reviewing an existing approach, we can help you understand what FRS 105 means for your company and prepare accounts that are accurate, consistently presented and appropriate to your circumstances.

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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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 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 Qualifying Micro-Entities

FRS 105 is the Financial Reporting Standard that applies to companies using the UK micro-entities regime. In plain terms, it is the rulebook that tells you how to put your annual accounts together if your company is a micro-entity and you have chosen to report under that regime. The micro-entities regime is one of several accounting frameworks available in the UK. It is the most simplified option, and it is optional rather than automatic — a company has to qualify, and it then has to decide to use it. Once the regime is chosen, FRS 105 applies, and the accounts are prepared on that basis. What makes FRS 105 distinctive is its focus on historic cost and a much smaller set of disclosures than you would find under FRS 102. In practice, that means a shorter, more readable set of financial statements covering the balance sheet, a profit and loss account and limited notes, without the fair value adjustments, revaluations and extensive narrative disclosures that larger frameworks require. For a small owner-managed company, that can make the accounts quicker to prepare and easier to follow. It is still a formal set of financial statements, though, and it still has to be prepared correctly and filed in the right way. Understanding whether your company qualifies, whether the regime suits your circumstances, and how the figures should be presented is where professional input tends to add the most value.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. Two things have to line up: the company must fall within the regime’s eligibility rules, and it must decide to use that regime rather than a fuller framework. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Those conditions are a useful starting point, but they are not the whole test. The micro-entities regime also carries its own rules and exclusions, and certain types of company or group are not permitted to use it even where the size conditions are met. In addition, the criteria are assessed on the correct basis for the period in question, and the position can change from year to year as a company grows. That is why we look at eligibility in the round — your company’s structure, its activities, its group position and its figures — rather than treating the thresholds as a green light on their own. If your company does qualify and FRS 105 suits your circumstances, we can prepare the accounts on that basis. If it does not, we will explain the alternatives.

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 with Accurate Financial Reporting

FRS 105 Micro Entity Accounts are only as reliable as the records and the judgements behind them. We prepare micro-entity accounts from your company’s financial records — bookkeeping, bank transactions, sales and purchase information, asset and liability details, and any relevant supporting documents — and present them in line with the reporting requirements that apply to the micro-entities regime. That means checking that income and expenditure have been treated consistently, that the balance sheet balances and reflects what the company actually owns and owes, and that any notes required under FRS 105 are included and worded sensibly. We also keep the different filing obligations clearly separated, because they are often confused. The financial statements are prepared for the company and, where required, filed with Companies House as part of the annual accounts. Corporation Tax is a separate matter: a CT600 is submitted to HMRC, and while it draws on the same underlying figures, it follows tax rules rather than accounting standards. Your Confirmation Statement is a further, separate filing. We can support you across these areas so that each one is handled on its own terms, based on the information you provide and the requirements that apply to your company. Nothing is treated as a formality — the accounts are prepared to reflect your circumstances as accurately as the records allow.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Spilsby

If you would like help with your FRS 105 Micro Entity Accounts, the best starting point is a conversation. Tell us about your company — what it does, how it is structured, when your accounting period ends, and how your records are currently kept. If you have previous accounts, a trial balance, bookkeeping software access or a set of draft figures, those are useful too, as they let us see how your numbers are put together before we begin. From there we can talk through whether the micro-entities regime looks like an appropriate fit for your circumstances, what the preparation process involves, and how the accounts connect with your other filing obligations, such as your annual accounts filing and your Corporation Tax Return. If you are unsure whether your company is eligible, we can look at the applicable size criteria and other rules with you rather than leaving you to guess. Pricing is kept clear and transparent, with fixed-fee options available, so you know where you stand before work begins. Get in touch and we will help you take the next step with confidence.

─── 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 Financial Reporting Standard that applies to companies using the UK micro-entities regime. It sets out how a qualifying micro-entity should recognise and measure items in its financial statements, and what information those statements need to include. It is the most simplified of the UK accounting frameworks, based on historic cost, with a much shorter set of disclosure requirements than FRS 102 or FRS 101. When a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the framework used to prepare its annual accounts.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not oblige a company to use it, and FRS 105 is not automatically applied to every company that happens to be small. The regime is an option, and a qualifying company can instead choose to report under a different framework, such as FRS 102 Section 1A for small entities. What matters is that the decision is made deliberately and applied consistently. If FRS 105 is chosen, the accounts must be prepared on that basis, and moving between frameworks later should be considered carefully rather than treated as a routine switch.

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 size conditions is not the whole story. Other eligibility rules and exclusions apply, and some companies are prevented from using the regime regardless of their size. Eligibility should therefore be confirmed by reference to the specific rules and your company's own position, not assumed from the thresholds alone.

What is the difference between FRS 105 and FRS 102?

FRS 105 is available only to companies that qualify for and choose the micro-entities regime, and it is deliberately narrow in scope. It works on a historic cost basis and requires only a limited set of disclosures. FRS 102 is a broader framework that applies to a much wider range of companies, including small companies using Section 1A, and it permits or requires a greater number of accounting treatments and disclosures — for example around financial instruments, fair values and deferred tax. In short, FRS 105 is the simpler, more restricted option, while FRS 102 gives a fuller picture but with more preparation and disclosure work.

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

Yes. A company that prepares its annual accounts under the micro-entities regime still has to file annual accounts with Companies House, in the format and manner required for micro-entity accounts. Preparing the accounts and filing them are two separate steps, and the filing must be made within the applicable filing requirements for your company. It is worth keeping in mind that the way accounts are filed with Companies House is changing, so it is sensible to check the current position before you file rather than relying on how things were done in previous years.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under an accounting framework and filed with Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC, and it follows tax legislation rather than accounting standards. The two are connected because the tax return generally starts from the company's accounts, but adjustments are then made for tax purposes, so the figures can differ. Preparing one does not discharge the obligation to deal with the other.

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

In practice we need a clear picture of your company's financial position and performance for the period. That usually means bookkeeping or accounting records, bank statements and reconciliations, sales and purchase information, details of any fixed assets and how they were acquired, balances owed to and by the company, loan or director's account details, and stock or work in progress where relevant. Copies of the previous year's accounts and any relevant correspondence are helpful too. If your records are incomplete, we can talk through what is missing and how best to fill the gaps before preparation begins.

What changes are coming to micro-entity accounts filing?

Companies House filing requirements for small and micro-entity companies are being updated, including a move towards filing accounts through software and changes to the information that certain companies must include, such as the profit and loss account. Because these changes are being introduced in stages, the requirements that apply to your company can depend on your accounting period and your filing route. Rather than assume last year's approach still works, it is worth confirming the current position with Companies House or with us before you file, so your FRS 105 Micro Entity Accounts are submitted in the right format.