─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Towcester

If your company is based in Towcester and may qualify as a micro-entity, FRS 105 Micro Entity Accounts could be the right reporting framework for your statutory financial statements. FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime. Professional preparation can help you present your figures in line with that framework and your company’s circumstances, using records such as bank statements, sales and purchase information, payroll data and asset details. Eligibility is not automatic, so it is important to confirm whether your company meets the relevant conditions and any applicable exclusions before preparing FRS 105 Micro Entity Accounts.

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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 for Towcester Micro-Entity Accounts

FRS 105 is the UK financial reporting standard used by companies that qualify for, and choose to apply, the micro-entities regime. In simple terms, it gives smaller companies a simplified way to prepare their annual financial statements, with fewer disclosures and simpler measurement rules than some other accounting frameworks. If your Towcester company qualifies as a micro-entity and the directors decide to use the micro-entities regime, FRS 105 applies to those accounts. The accounts still need to be prepared accurately from your financial records and filed with Companies House where required. FRS 105 Micro Entity Accounts are not the same as a Corporation Tax Return (CT600), which is a separate filing made to HMRC.

Who Can Use FRS 105 in the UK? A Guide for Towcester Companies

In the UK, FRS 105 is intended for 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 3 applicable size conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. However, other eligibility rules and exclusions can apply, so meeting the size thresholds alone does not always guarantee eligibility. If your Towcester company is considering FRS 105 Micro Entity Accounts, the next step is to review your specific circumstances and confirm whether the micro-entities regime is available and appropriate.

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.

Professional Preparation of FRS 105 Micro Entity Accounts in Towcester

Professionally prepared FRS 105 Micro Entity Accounts can help ensure your financial statements are based on your company’s records and the applicable reporting requirements. We can work through the information you provide — such as income, expenses, assets, liabilities and payroll details — to prepare financial statements and supporting calculations. Where relevant, we can also help with the separate Companies House filing of those accounts. This is distinct from your Corporation Tax obligations, including any CT600 that may need to be submitted to HMRC. The aim is accurate financial reporting for your circumstances, not a guarantee of any particular outcome, and eligibility for FRS 105 Micro Entity Accounts should be confirmed before preparation begins.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Towcester

If you would like support with FRS 105 Micro Entity Accounts in Towcester, get in touch to discuss your requirements. We can review the information you provide, help assess whether your company may qualify for the micro-entities regime, and explain the records needed to prepare your accounts. Whether you are preparing accounts for the first time or moving from another framework, we can talk through your circumstances and the options available. Contact us to start the conversation about your FRS 105 Micro Entity Accounts.

─── 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 companies that qualify for and choose to apply the micro-entities regime. It sets out simplified rules for preparing annual financial statements, including limited disclosure requirements. It is used for FRS 105 Micro Entity Accounts and should not be confused with a Corporation Tax Return (CT600).

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and decide to apply the micro-entities regime. Qualification depends on meeting the relevant size conditions and not being excluded by other rules. Meeting the size tests alone does not always guarantee eligibility, so the specific circumstances of the company should be reviewed before FRS 105 Micro Entity Accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. A company that qualifies as a micro-entity may choose to apply the micro-entities regime, but it is not forced to use FRS 105. Some qualifying companies may use another applicable framework, such as FRS 102. FRS 105 applies when the micro-entities regime is chosen, so directors should consider which framework best suits their reporting needs.

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 conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Other eligibility rules and exclusions can apply, so these size conditions should be checked alongside the wider requirements before relying on them for FRS 105 Micro Entity Accounts.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simpler framework for qualifying micro-entities that choose the micro-entities regime, with reduced disclosures and simplified measurement rules. FRS 102 is a broader UK financial reporting standard used by many companies that do not qualify for, or choose not to apply, the micro-entities regime. The right choice depends on eligibility and the company’s circumstances, including whether FRS 105 Micro Entity Accounts are appropriate.

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

Where a company is required to file annual accounts, FRS 105 Micro Entity Accounts are generally the statutory accounts submitted to Companies House. This filing is separate from Corporation Tax and from a Confirmation Statement. A CT600 is submitted to HMRC for Corporation Tax purposes and is not the same as filing FRS 105 accounts with Companies House. The exact filing requirements depend on the company’s position and current rules.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime and are generally filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC. The figures may be related, but the documents serve different purposes and have different filing routes, so one should not be treated as a replacement for the other.

Can a new limited company use FRS 105?

A new limited company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. New companies still need to consider the size conditions, any exclusions, and the rules for the first accounting period. It is not automatic, so it is sensible to review the company’s circumstances before preparing FRS 105 Micro Entity Accounts.