─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Stranraer

FRS 105 Micro Entity Accounts are the financial statements a company prepares when it applies the micro-entities regime — a simplified financial reporting framework available to qualifying UK micro-entities. FRS 105 sets out how those accounts should be put together, with simpler measurement rules and far fewer disclosure notes than the fuller reporting standards used by larger companies. If your company qualifies for the regime and you choose to use it, FRS 105 is the framework that applies. Eligibility is not automatic: it depends on the relevant size conditions being met and on whether any of the applicable exclusions affect your company, so it is worth checking before deciding which framework to use. For businesses in Stranraer and across Dumfries and Galloway, professional preparation helps ensure the accounts are prepared appropriately for your specific circumstances — your trading activity, assets, liabilities and ownership structure — and that the figures filed are consistent with your underlying records. We can also help you understand how your accounts fit alongside your other filing obligations rather than treating them as a single combined task.

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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 Stranraer

FRS 105 is the UK financial reporting standard that applies when a qualifying micro-entity chooses to use the micro-entities regime. In plain terms, it is the rulebook for a simplified set of annual accounts. Rather than the fuller recognition, measurement and disclosure requirements found in other standards, FRS 105 keeps things lean — assets are generally carried at cost rather than revalued, some complexities such as deferred tax are not recognised, and the notes to the accounts are much shorter. The outcome is a concise set of financial statements, typically a balance sheet, a profit and loss account and a small number of notes, covering the company’s financial year. The important point is that the micro-entities regime is a choice, not an obligation. A company does not use FRS 105 simply because it is small; FRS 105 applies only when the company qualifies for the regime and decides to apply it. For a Stranraer-based company, that decision usually comes down to three practical questions: whether you qualify, whether the simplified presentation gives you what you and your stakeholders need, and what has to be reported to Companies House and to HMRC. We are happy to talk through each of those with you.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it, which is why eligibility and choice are two separate questions. On the size side, 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. Those conditions are a useful starting point rather than the whole picture. Other eligibility rules and exclusions can apply — for example, certain categories of company are not able to use the micro-entities regime at all, and companies within groups or with particular structures may need closer consideration. It is also worth remembering that qualifying does not oblige a company to use FRS 105; the regime is available, and FRS 105 applies when the company decides to use it. If you run a company in Stranraer or elsewhere in Dumfries and Galloway and want to know whether FRS 105 Micro Entity Accounts are a realistic option for your next set of accounts, we can review your circumstances and explain what applies to 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 Accurate Financial Reporting in Stranraer

Preparing FRS 105 Micro Entity Accounts starts with your financial records — bookkeeping, bank and cash records, sales and purchase documentation, payroll information, and details of assets, liabilities and share capital. From there, the accounts are prepared in line with the applicable reporting requirements for the micro-entities regime, using the measurement and disclosure rules that FRS 105 sets out. That means arriving at figures for the balance sheet and profit and loss account that fairly reflect the company’s position and performance for the period, together with the short set of notes the framework requires. Two further steps are often assumed to be part of the same exercise but are in fact separate. Filing accounts with Companies House is a company law obligation that runs alongside the preparation of the financial statements themselves, and it is distinct from your Corporation Tax position. A Corporation Tax Return (CT600) is submitted to HMRC and is a separate filing with its own requirements; the accounts prepared under FRS 105 typically inform the tax computation, but they are not the same document and are not sent to the same place. We handle the preparation of the financial statements and can support you with the Companies House filing, while making clear where your Corporation Tax obligations sit.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Stranraer

If you think your company may qualify for the micro-entities regime and want FRS 105 Micro Entity Accounts prepared properly, get in touch and let us look at your circumstances. Tell us about your company — where it sits in its financial year, what it does, how it is structured, and whether anything unusual happened during the period such as an asset purchase, a loan or a change in ownership. It also helps to have your records to hand: bookkeeping or accounting software access, bank statements, sales and purchase information, payroll details, and a copy of your previous year’s accounts if you have them. With that information we can assess whether FRS 105 is likely to be the right framework for you, explain what the accounts will include, and set out how the work will be handled, including clear, transparent pricing. We will also be upfront if your circumstances point to a different reporting framework, and we can talk you through how your accounts, your Companies House filing and your Corporation Tax Return fit together.

─── 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 the micro-entities regime. It sets out the rules a qualifying micro-entity follows when preparing its annual accounts, allowing a simplified approach to measurement and considerably fewer disclosure notes than the fuller standards used by larger companies. If your company qualifies for the regime and chooses to apply it, FRS 105 is the framework your financial statements are prepared under.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. The regime is based on size conditions, but qualifying is not simply a matter of size — certain types of company are excluded from the micro-entities regime by the underlying rules, and there are additional considerations for companies within groups or with particular structures. Meeting the size conditions alone does not always mean a company is eligible, so it is worth checking your position before assuming FRS 105 applies to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic one. A company that qualifies may choose to apply it and prepare FRS 105 accounts, or it may decide to report under a fuller framework instead. FRS 105 applies when the regime is chosen. Many qualifying companies do opt for it because the accounts are shorter and simpler to prepare and read, but that is a decision about presentation and reporting rather than a requirement placed on every small company.

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 conditions apply subject to the relevant rules, and other eligibility rules and exclusions can also affect whether a company can use the micro-entities regime. Because the test is not based on size alone, it is sensible to confirm your position rather than rely on the figures by themselves.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the financial reporting standard used by a much wider range of UK companies, including many small and medium-sized entities, and it involves more detailed recognition, measurement and disclosure requirements. FRS 105 sits underneath it as the standard for the micro-entities regime, offering a more streamlined set of rules and a shorter set of financial statements. In practice, the main differences a business owner notices are the level of detail in the accounts, the size of the notes, and how certain items such as assets and deferred tax are treated. Choosing between them depends on eligibility and on what the company needs from its reporting.

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

The obligation to file annual accounts comes from company law rather than from the reporting standard itself. If a company is required to file annual accounts, then the accounts it prepares — including accounts prepared under FRS 105 — are what get filed at Companies House, in the format permitted for a micro-entity. Filing requirements, permitted formats and deadlines are set by the applicable rules, so it is worth confirming what applies to your company for the relevant period. We can prepare the financial statements and support you with the filing step, keeping it clearly separate from your tax work.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, which deal with your accounting and financial reporting. A Corporation Tax Return, commonly referred to as a CT600, is a separate filing submitted to HMRC that deals with your company's tax position for the period. The accounts usually provide the starting point for the tax computation, but the return is a distinct document with its own requirements and its own submission route. We can help with both while keeping the two clearly distinguished.

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

We generally need your bookkeeping or accounting records for the period, along with bank and cash records, sales and purchase information, and any invoices or statements that support the figures. It also helps to have payroll information if you employ staff, details of assets and liabilities such as equipment, vehicles, stock, loans and director balances, confirmation of share capital, and a copy of the previous year's accounts. If your company had any significant one-off events during the period — a large purchase, a new borrowing facility or a change in ownership — let us know, as these can affect how the accounts are prepared.