─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wednesbury

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK companies which choose to use the micro-entities regime. For a Wednesbury company, that means simpler, shorter financial statements built around the figures in your own accounting records — typically a small balance sheet, limited notes and less disclosure than larger reporting frameworks require. Professional preparation helps ensure those accounts are put together appropriately for your company’s particular circumstances: the nature of its income and costs, the assets and liabilities it holds, its share structure, any transactions with directors or connected parties, and the accounting policies that suit what the business actually does. It also means the accounts are considered alongside your other filing obligations rather than in isolation, so nothing is overlooked. Whether FRS 105 is the right basis for your company is a decision that depends on your company meeting the micro-entity eligibility conditions and on you choosing to apply the regime — it is not automatic, and a short review of your position is the sensible first step.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. In plain terms, it is a simplified set of accounting rules for the smallest companies, designed so that the annual accounts show a straightforward, historically based picture of what the business owns and owes. Under FRS 105 you generally work with figures that reflect amounts actually received and paid, rather than more complex fair value adjustments, and the disclosure requirements are lighter than those under FRS 102 Section 1A or full FRS 102. The result is a set of FRS 105 financial statements — usually a balance sheet with limited notes — that still has to be prepared accurately and consistently. It is important to understand that the micro-entities regime is an available accounting regime, not a default: a company that qualifies can choose to apply it, and FRS 105 is the standard used when that choice is made. Some companies instead prepare accounts under FRS 102, and the right answer depends on eligibility, on the needs of those who use the accounts, and on any rules or exclusions that apply to your company.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it — it is an option open to qualifying companies rather than a rule that captures every small business. 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. Those limits give a useful starting point when you are thinking about whether your Wednesbury company might be in scope. They are not the whole test, though. Other eligibility rules and exclusions can apply, and certain entities are prevented from using the micro-entities regime regardless of their size. There are also transitional considerations where accounting periods straddle a change in the limits. The safe approach is to look at your company’s own figures, structure and activities before deciding, and to remember that satisfying the size thresholds alone does not automatically guarantee eligibility.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying financial records — bank statements, sales and purchase records, payroll information, loan and hire purchase agreements, asset purchases, stock or work in progress where relevant, and details of any director’s loan account. From those records the financial statements are built in line with the applicable reporting requirements, with accounting policies chosen to suit the company’s activities and applied consistently from year to year. It is worth keeping two separate strands clear in your mind. First, the accounts themselves: preparing the FRS 105 financial statements and filing the required accounts with Companies House is one exercise. Second, Corporation Tax: a CT600 Corporation Tax Return is a separate filing made to HMRC, based on the company’s taxable profits rather than simply a copy of the accounts. Confirmation Statements are separate again. Good preparation ties these together sensibly so the figures tell a consistent story, but it does not mean any authority has reviewed, approved or endorsed the accounts — responsibility for the content rests with the company and its directors.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Wednesbury

If your Wednesbury company may qualify for the micro-entities regime and you would like to explore FRS 105 Micro Entity Accounts, the next step is a straightforward conversation about your circumstances. Tell us about your company — what it does, when it started trading, its accounting period, roughly what it earns and what it holds on the balance sheet, how many people it employs, and whether anything unusual happened during the year such as an asset purchase, a loan, or a change in shareholding. It also helps to know how your records are kept and whether you already have accounts prepared for a previous period. With that information we can assess whether FRS 105 looks suitable for your company, explain what is involved in preparing and filing the accounts, outline how it sits alongside your separate Corporation Tax and Confirmation Statement obligations, and set out clear, transparent pricing. Get in touch to discuss your requirements and the information needed to move forward.

─── 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 sets out a simplified basis for preparing annual accounts, generally keeping figures on a historical, amounts-received-and-paid footing and requiring less disclosure than FRS 102. In practice, a set of FRS 105 accounts is usually a concise balance sheet with a small number of notes, supported by the company's underlying accounting records.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it. A company must meet the micro-entity size conditions and must not fall foul of the rules and exclusions that can apply — for example, certain types of entity are not eligible for the regime at all. Because eligibility depends on your company's specific position, it is worth reviewing before deciding which reporting framework to use.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, and FRS 105 is the standard used when it does. Some qualifying companies prefer to prepare accounts under FRS 102, for instance because a lender, investor or other user of the accounts wants more information than the micro-entity framework provides. The choice should be made deliberately and, once made, applied consistently.

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. Meeting those size conditions is the starting point rather than the whole answer — other rules and exclusions can affect whether a particular company can use the regime, and transitional rules may apply around the change in limits.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but FRS 105 is the simpler option. It is built specifically for micro-entities, generally avoids fair value accounting and requires fewer disclosure notes. FRS 102, including Section 1A for smaller entities, offers more detailed recognition and measurement rules and expects more disclosure. The trade-off is straightforward: FRS 105 means shorter accounts and less work, while FRS 102 can give readers a fuller picture of the business.

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

If a company prepares accounts, it has filing obligations at Companies House, and accounts prepared under FRS 105 are submitted there in the usual way in respect of the company's financial year. What can differ under the micro-entity framework is the content — a shorter balance sheet and limited notes. Filing is a separate exercise from your Corporation Tax Return, which goes to HMRC rather than Companies House.

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

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare your company's annual accounts. A CT600 is a separate Corporation Tax filing submitted to HMRC, calculating tax on the company's taxable profits after the relevant tax adjustments. The accounts and the tax return draw on the same underlying records, but they are different documents filed with different bodies, and a Confirmation Statement is a third, separate filing.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. In practice, a first-year company with modest activity often looks like a natural fit, but the eligibility conditions still have to be considered properly, along with any exclusions. It is also worth thinking ahead: the framework you choose in year one affects how the accounts are presented, so consistency in later years matters.