─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Swadlincote: Clear Financial Reporting for Qualifying Micro-Entities

FRS 105 is the financial reporting standard that sets out how a qualifying micro-entity prepares its accounts when it chooses to apply the UK micro-entities regime. It is a simplified framework, but it still has to be applied correctly — the balance sheet, the notes and the disclosures all need to reflect the company’s actual circumstances. For directors in Swadlincote running a small limited company, professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are built from the underlying financial records, presented in the expected format, and supported by the disclosures the framework requires. Just as importantly, it takes the guesswork out of deciding what belongs in the accounts and what does not. Whether you are filing your first set of micro-entity accounts or your twentieth, having them prepared properly gives you a set of financial statements you can rely on and share with confidence.

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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: The Micro-Entities Regime and Why It Matters

FRS 105 is the UK accounting standard written specifically for micro-entities. In simple terms, it is a stripped-back way of preparing financial statements, designed for the smallest companies that qualify for the micro-entities regime and decide to use it. If a company qualifies and chooses that regime, FRS 105 is the standard it applies — you do not pick and mix between frameworks. The idea behind it is straightforward: rather than working through the fuller requirements of a standard such as FRS 102, a micro-entity prepares a simpler balance sheet and a small number of supporting notes. What it does not do is remove the need for accuracy. The accounts still have to be based on real, properly kept records, and they still have to be delivered to Companies House where filing is required. For a director in Swadlincote, understanding which framework applies is the starting point — and FRS 105 Micro Entity Accounts are simply the accounts that follow from that decision.

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 then choose to apply it. Two things have to line up: your company needs to fall within the regime, and you need to decide to use it — FRS 105 is not applied by default. 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, which are 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. It is important to treat those figures as a starting point rather than the whole test. Other eligibility rules and exclusions can apply, and some companies are prevented from using the regime regardless of their size. That means meeting two of the three conditions does not, on its own, guarantee that a company qualifies. For a business in Swadlincote, the sensible approach is to weigh up the current criteria, check for any exclusions, and confirm the position for your own company before FRS 105 Micro Entity Accounts are prepared on that basis.

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 Reliable Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your records — bookkeeping, bank transactions, invoices, expenses, asset purchases and any liabilities — and turns them into a set of financial statements presented in line with the requirements that apply to your company. That means the balance sheet is built from your figures rather than assumptions, and the notes included are the ones the framework actually calls for. It is worth being clear about the separation of tasks here. Preparing the financial statements and delivering them to Companies House is one process, governed by the accounting framework and the filing requirements for your company. Corporation Tax is a separate matter entirely: a CT600 is a tax return submitted to HMRC, based on the company’s profits, and it is not the same document as the accounts. Keeping those two strands organised — and consistent with each other — is one of the practical benefits of having FRS 105 accounts prepared alongside your wider compliance obligations.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Swadlincote

If you would like support preparing your FRS 105 Micro Entity Accounts, the best first step is a conversation about your company. Tell us about your trading year, what records you hold, whether you have filed accounts before, and whether you also need help with Corporation Tax or your Confirmation Statement. From there, we can look at your circumstances and explain how your accounts would be approached. Bring your bookkeeping, bank statements, invoices, expense records and any asset or loan details, and we can help you make sense of where you stand and what is needed next.

─── 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 for micro-entities. It sets out a simplified basis for preparing financial statements for companies that qualify for the micro-entities regime and choose to apply it. Compared with fuller frameworks, it reduces the volume of disclosure required and focuses on a straightforward balance sheet with limited supporting notes.

Who can use FRS 105?

FRS 105 is available to companies that fall within the UK micro-entities regime, subject to the rules and exclusions that apply. Meeting the relevant size conditions is part of the picture, but it is not the only consideration — certain company types and circumstances are excluded, and eligibility needs to be assessed for your company specifically rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not automatically mean you must use FRS 105. The regime is an available option, and FRS 105 is the standard you apply if you choose it. Some companies that could use the micro-entities regime instead prepare accounts under a different framework, so the decision should be made deliberately, with your circumstances in mind.

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. These are the headline size tests, and other rules and exclusions can affect whether a company actually qualifies.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they differ in depth. FRS 105 is the micro-entities standard, offering a simplified presentation and a much shorter set of required disclosures. FRS 102 is a fuller framework used by a wider range of companies, with more recognition, measurement and disclosure requirements. Which one applies depends on whether the company qualifies for and chooses the micro-entities regime.

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

Where a company is required to deliver accounts to Companies House, the financial statements it prepares under its chosen framework form the basis of that filing. The filing obligation comes from company law rather than from FRS 105 itself, and the format and content of what is delivered must follow the current Companies House requirements for the company in question.

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

Yes, they are distinct. FRS 105 accounts are financial statements prepared under the micro-entities accounting framework. A CT600 is a Corporation Tax return submitted to HMRC, dealing with the company's taxable profits and tax position. The two are prepared for different purposes and go to different authorities, although the figures should be consistent with one another.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use the micro-entities regime if it meets the relevant conditions and is not excluded, but this needs to be checked rather than assumed. In a first trading period the size tests apply to the period in question, and a brand-new company with limited activity may well fall within them — though other eligibility rules still have to be considered.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records, bank statements, sales invoices and expense records, details of any assets owned by the company, and information on loans, director's loans and other liabilities. Details of share capital and any prior-year accounts are also useful. The more complete the records, the more straightforward the preparation process tends to be.

Are the rules on filing micro-entity accounts changing?

Companies House has been phasing in changes to how accounts are delivered, including a move towards filing through software and additional information being required for small and micro-entity companies. Because these changes are being introduced over time, the practical requirements can vary depending on your company and accounting period, so it is worth checking current Companies House guidance before you file.