─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wellington

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — a simplified UK reporting framework available to companies that both qualify for it and choose to apply it. For a small company in Wellington, that choice has a real effect on how the accounts look: disclosures are kept to a minimum, the balance sheet and profit and loss account follow a prescribed format, and the resulting figures are easier to read and to file. Professional preparation helps because eligibility is not automatic and is not purely about size. Directors need to consider the company’s turnover, balance sheet total and employee numbers against the relevant thresholds, check whether any exclusions apply, and confirm that the regime is appropriate for the way the business actually operates. A prepared set of FRS 105 Micro Entity Accounts should also sit consistently alongside the company’s books, its other statutory records and its separate tax filings, so nothing contradicts anything else. If you would like your micro-entity reporting handled properly, we can review your circumstances in Wellington and prepare accounts that reflect them accurately.

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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: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that sets out how a very small company’s annual accounts should be put together when that company uses the micro-entities regime — what must appear in the balance sheet, what must appear in the profit and loss account, and how little supporting disclosure is required by comparison with larger reporting frameworks. The regime itself is optional: a company that qualifies may choose to apply it, and FRS 105 is the standard that applies when that choice is made. That is an important distinction, because qualifying for the micro-entities regime and applying FRS 105 are two separate steps, and FRS 102 (or another framework) may be a better fit depending on the company’s structure, its investors, its lending arrangements or the expectations of anyone who relies on the accounts. FRS 105 also simplifies measurement in places, but it still requires the figures to be drawn from proper accounting records and to give a true and fair view in the way the standard intends. For a director in Wellington running a small limited company, the practical appeal is straightforward: shorter, clearer FRS 105 financial statements that meet the reporting requirements applicable to a qualifying micro-entity without unnecessary complexity.

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

FRS 105 is intended for companies that qualify for the UK 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 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 conditions is the starting point rather than the whole answer, because the regime also carries its own rules and exclusions, and some entities are not able to apply it regardless of size. Companies in Wellington should also be aware that the criteria differ for earlier accounting periods, so the correct thresholds depend on when the period began. Being eligible and choosing to apply the regime are two distinct decisions: a qualifying company might still decide that FRS 102 better suits its circumstances, particularly where lenders, investors or group arrangements are involved. The sensible approach is to confirm eligibility against the rules for your specific period, then consider whether the micro-entities regime genuinely fits how your company is run before any FRS 105 Micro Entity Accounts are prepared.

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 Accurate Financial Reporting

Accurate FRS 105 Micro Entity Accounts start with accurate records. When we prepare micro-entity financial statements for a company in Wellington, the work is built from your bookkeeping, bank records, invoices, expense records, payroll information and any asset or liability details you hold, then shaped into the formats and disclosures that FRS 105 requires. That means agreeing the figures to supporting documentation, dealing with the judgements a micro-entity set of accounts inevitably involves — such as how items are recognised and measured — and making sure the balance sheet and profit and loss account tell a consistent story. It is also worth being clear about what sits where. Preparing and filing the accounts with Companies House is one obligation; a Corporation Tax Return (CT600) is a separate filing made to HMRC, and a Confirmation Statement is separate again. The financial statements underpin the tax position, but they are not the tax return, and treating them as interchangeable is a common source of error. Our role is to prepare FRS 105 Micro Entity Accounts in line with the applicable reporting requirements based on the information provided, and to help you understand what is being filed and why, so you can review it with confidence before it goes anywhere.

ICAEW

ACCA

AAT

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

If you run a small company in Wellington and want your FRS 105 Micro Entity Accounts handled carefully, get in touch and tell us about your business. It helps to know your accounting period dates, your approximate turnover, your balance sheet total and your average employee numbers, along with a little background on how the company is structured and who relies on the accounts. From there we can talk through whether the micro-entities regime looks suitable for you, what the FRS 105 financial statements will involve, and what information we will need from your records to prepare them. If you already have an accountant, we can pick things up from your existing files. If you are weighing up whether FRS 105 is the right framework at all, that conversation is just as welcome — clear, transparent pricing and a straightforward explanation of the options, with no pressure either way.

─── 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 the format and content of the annual accounts — principally a balance sheet and a profit and loss account — that a qualifying company prepares when it applies the micro-entities regime. It is a simplified framework, with far fewer disclosure requirements than FRS 102, and it is designed to reduce the reporting burden on the smallest companies without removing the need for properly kept accounting records.

Who can use FRS 105?

FRS 105 can be used by a company that qualifies for the UK micro-entities regime and chooses to apply it. Qualifying is a matter of meeting the relevant size conditions and not falling within any of the exclusions that apply to the regime, so it is not simply a case of being a small company. Meeting the size tests alone does not guarantee eligibility, which is why it is worth checking your specific circumstances before deciding.

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, in which case FRS 105 is the standard used to prepare the accounts — or it may instead prepare accounts under FRS 102 or another applicable framework. The right choice depends on factors such as the company's ownership, whether it has investors or lenders with particular expectations, and the level of detail that those who rely on the accounts actually need.

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 conditions are subject to the relevant rules and exclusions, and periods beginning before that date are assessed against the thresholds that applied to them, so it is important to look at the correct set of criteria for your accounting period.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard: short accounts, minimal disclosure and a prescribed, simplified format. FRS 102 is the standard for larger entities, including small companies that do not qualify as micro-entities, and it requires considerably more disclosure and offers more accounting policy choices. FRS 102 is also the framework that some companies must use even if they would otherwise look small, for example where exclusions from the micro-entities regime apply.

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

Yes — where accounts have been prepared for a company, they form part of that company's annual statutory filing to Companies House, and micro-entity accounts are filed in the prescribed way. Filing the accounts is a separate exercise from submitting a Confirmation Statement, which deals with the company's registered details rather than its financial results. The accounts filed at Companies House are also distinct from what is submitted to HMRC for Corporation Tax purposes.

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

Yes, they are separate things. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The accounts provide the starting point for the tax computation, but the CT600 is its own filing with its own requirements and timescales.

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

We normally need your accounting records for the period — bank statements and reconciliations, sales and purchase records, expense and payroll information, and details of any assets, liabilities, loans or share capital. It also helps to know your accounting period dates, your turnover, balance sheet total and average employee numbers, plus anything that has changed in the business during the year, such as a new loan, a significant purchase or a change in ownership. If you already work with an accountant, we can usually work from the existing files.