─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Swaffham

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for qualifying UK micro-entities that choose to apply the micro-entities regime. If your company is based in Swaffham and keeps its reporting straightforward, FRS 105 can offer a simpler basis for preparing annual financial statements, with a shorter and more concise set of disclosures than larger reporting frameworks require. Professional preparation helps make sure the accounts are put together appropriately for your company’s own circumstances — its activities, its transactions and its accounting records — rather than being produced from a template that ignores the detail. We work through the figures with you, consider the applicable reporting requirements, and prepare accounts that are consistent, clearly presented and ready for the next stage of your company’s filing cycle. Eligibility is not automatic, so the starting point is always a proper look at whether your company qualifies for the micro-entities regime and wants to use it.

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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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 financial reporting standard that sits behind the micro-entities regime. In simple terms, it is a simplified accounting framework that qualifying companies can choose to apply when preparing their annual financial statements. It is built around the idea that very small companies should not have to produce a long, complex set of accounts, so the required disclosures are reduced and the presentation is kept lean — typically a straightforward balance sheet, a small profit and loss account and a limited set of notes. It is worth being clear about the relationship between the three: the micro-entities regime is the legal option available to companies that meet the size conditions and any other applicable rules; FRS 105 is the standard that applies when a qualifying company decides to use that option. Choosing it is a decision, not a default, and a company that qualifies may still prefer a different framework. For many Swaffham-based micro-entities, FRS 105 Micro Entity Accounts offer a practical, proportionate way to report, provided the company genuinely fits the criteria and the accounts reflect what actually happened during the period.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and actively choose to apply it when preparing their annual financial statements. The main test is size. 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 conditions is a starting point rather than the whole answer. Certain companies are excluded from the regime regardless of how small they are — for example, some types of entity are outside the micro-entities rules altogether — and there are additional requirements around how the regime is applied and whether the company has used a different framework previously. For a Swaffham company weighing up its options, the sensible approach is to look at the size figures, check the exclusions, and then decide whether FRS 105 Micro Entity Accounts genuinely suit the business. Where the regime is available and chosen, FRS 105 is the standard that applies.

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

FRS 105 Micro Entity Accounts should be built from your company’s own financial records — bank statements, sales and purchase information, payroll details, asset purchases and any other transactions that affect the period. The work involves reviewing those records, applying the recognition and measurement requirements of FRS 105, and presenting the financial statements in the prescribed form with the disclosures the framework requires. It is important to keep two things separate: preparing and filing the accounts with Companies House is one obligation, while your Corporation Tax position is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC. The accounts inform the tax return, but they are not the same document, and neither replaces the other. If you would like help with FRS 105 Micro Entity Accounts in Swaffham, we can prepare the financial statements from your records and handle the accounts filing, and we can discuss your Corporation Tax obligations alongside it so you know what needs doing and by when.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Swaffham

If you run a small company in or around Swaffham and want your FRS 105 Micro Entity Accounts prepared properly, get in touch and tell us about your business. It helps to have your latest trial balance or bookkeeping records, details of any assets bought or sold, information on directors’ loans and dividends if relevant, and the prior year accounts to hand — but do not worry if things are not perfectly tidy, as we can work through what you have. We will ask about your company’s turnover, balance sheet total and employee numbers so we can consider whether the micro-entities regime is the right fit for this period, and confirm what that means for your reporting. From there we can set out how we will prepare the accounts, what is involved in the Companies House filing, and how your separate Corporation Tax Return fits into the picture. Reach out to discuss your requirements and we will take it from there.

─── 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 is a simplified framework, so the financial statements are shorter than those prepared under larger standards and the disclosure requirements are reduced. In practice, a set of FRS 105 accounts usually consists of a balance sheet, a small profit and loss account and a limited number of notes, with the emphasis on clear, proportionate reporting for very small companies.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Qualifying is about size and about the other rules that apply to the regime: some companies are excluded regardless of their size, and meeting the size conditions on their own does not automatically mean the regime can be used. That is why eligibility should always be checked against the company's specific circumstances before accounts are prepared on that basis.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not a requirement. A company that qualifies may choose to apply it and prepare FRS 105 Micro Entity Accounts, or it may prefer to report under a different framework such as FRS 102 Section 1A. The right choice depends on the company's size, its activities and what the directors want from the accounts, and that decision should be reviewed as the business changes.

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 during the period. These are size tests only. Other eligibility rules and exclusions also apply, so a company that meets two or even all three conditions should still confirm that nothing else prevents it from using the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company and they differ in how much they require you to disclose. FRS 105 is the micro-entities standard and is deliberately brief, with simplified measurement rules and minimal notes. FRS 102 is a fuller framework, and the small companies variant within it — FRS 102 Section 1A — still requires more disclosure and more detailed accounting treatment than FRS 105. Moving to FRS 105 usually makes the accounts simpler, but it also means less information appears in them.

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

Yes, if micro-entity accounts are prepared for the company, they form the basis of the annual accounts filing at Companies House for that period. This is a separate process from your Corporation Tax obligations. The accounts are filed at Companies House, while your tax position is reported to HMRC through a Corporation Tax Return (CT600). The two use the same underlying figures, but they are different filings with different recipients, and completing one does not complete the other.

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

It is separate. FRS 105 Micro Entity Accounts are the statutory financial statements, and the CT600 is the Corporation Tax Return submitted to HMRC. The accounts provide the starting point for the tax computation, because profit in the accounts is adjusted for tax purposes — for example for disallowable expenses or capital allowances — before the taxable figure is arrived at. Preparing the accounts therefore does not, in itself, deal with your Corporation Tax filing.

Can a new limited company use FRS 105?

Possibly, but not automatically. A newly incorporated company still has to satisfy the eligibility conditions and other applicable rules before it can apply the micro-entities regime. In the first period the company's trading pattern may be unusual or incomplete, so turnover, balance sheet total and employee numbers need to be assessed on a sensible basis. It is worth reviewing the position before the first set of accounts is prepared rather than assuming either that the regime applies or that it does not.

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

Typically we need your accounting records for the period — bank statements, sales and purchase details, and any bookkeeping you keep — along with payroll information, details of assets purchased or disposed of, stock or work in progress figures where relevant, and information on loans, dividends or directors' current accounts. Copies of the previous year's accounts are helpful for consistency, as is your company registration information. If your records are incomplete, we can talk through what is missing and how best to fill the gaps.