─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wootton Bridge

If your company qualifies as a micro-entity and has chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework you will use. FRS 105 is the UK standard written specifically for the smallest companies, and it allows a simpler, more streamlined set of financial statements than the fuller frameworks available. Preparing FRS 105 Micro Entity Accounts in Wootton Bridge involves more than dropping your figures into a template: the accounts need to reflect your company’s actual transactions, the accounting policies appropriate to it, and the disclosure requirements that apply to a micro-entity. Working with someone who understands the regime helps ensure your accounts are put together appropriately for your circumstances, are internally consistent with the underlying records, and are ready to be considered alongside your other filing obligations. It also gives you the chance to ask questions about how the framework affects the way your results are presented, so you are not left guessing at what a micro-entity balance sheet and profit and loss account should look like.

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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 Reporting Framework Behind Micro-Entity Accounts

FRS 105 is the financial reporting standard that applies to UK companies using the micro-entities regime. In simple terms, it is the rulebook for how a qualifying micro-entity prepares its annual accounts. The micro-entities regime is a set of legal provisions that gives the smallest companies the option of a lighter reporting regime, and FRS 105 is the accounting standard that sits alongside it. When a company qualifies for the micro-entities regime and chooses to apply it, its accounts are prepared under FRS 105. That typically means a simplified balance sheet, a simplified profit and loss account, and a much shorter set of notes than you would see under a fuller framework. FRS 105 also takes a straightforward measurement approach, so many of the more complex valuation and fair value adjustments found in other standards generally do not feature. The result is a set of financial statements that is easier to read and cheaper to produce, while still giving a true and fair view of the company’s position as required by the regime. Importantly, using the micro-entities regime is a choice available to qualifying companies, not an automatic outcome, and FRS 105 only comes into play once that choice has been made.

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 choose to apply it. Eligibility starts with size. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Those figures are a useful starting point, but they are not the whole picture. Other eligibility rules and exclusions can apply, and certain types of company are unable to use the regime regardless of how small they are. Meeting the size conditions therefore does not, on its own, guarantee that a company qualifies — and qualifying does not oblige a company to apply the regime either. For companies in Wootton Bridge and the surrounding area, the practical approach is to look at your turnover, balance sheet total and employee numbers across the relevant periods, then check those results against the wider rules before deciding whether FRS 105 Micro Entity Accounts are the right fit for your company.

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 and Accurate Financial Reporting

FRS 105 Micro Entity Accounts are prepared from your company’s financial records and the reporting requirements that apply to a micro-entity. That means starting with accurate bookkeeping, then building the balance sheet and profit and loss account in line with FRS 105, and adding the disclosures that the framework expects. It is worth separating out the different obligations involved. Preparing the financial statements is one task; filing them with Companies House is a separate step with its own requirements; and a Corporation Tax Return (CT600) is a different filing altogether, submitted to HMRC rather than Companies House. Good preparation keeps those strands clear so nothing is overlooked and your records tell a consistent story across each of them. Where your circumstances raise questions — for example, how a particular transaction should be presented, or whether the micro-entities regime remains the right fit — those points can be worked through before the accounts are finalised. The aim is straightforward: accounts that are properly prepared, clearly presented, and based on the information you have provided, with any assumptions discussed openly rather than buried in the detail.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Wootton Bridge

If you would like support with your FRS 105 Micro Entity Accounts in Wootton Bridge, get in touch and tell us about your company. It helps to have a picture of your trading activity, your current bookkeeping arrangements, whether the micro-entities regime has been applied previously, and any changes during the period that might affect how the accounts are presented. Share your records and any questions you have, and we can look at your circumstances together and explain the options available to you. Whether you are preparing FRS 105 accounts for the first time, moving across from another framework, or simply want a second pair of eyes on what you have already drafted, a conversation is a sensible place to start — with clear, transparent pricing and no obligation to proceed.

─── 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 how a qualifying micro-entity prepares its annual accounts, including the format of the balance sheet and profit and loss account and the limited notes that are required. It is deliberately simpler than the fuller standards used by larger companies, which is why it is popular with very small limited companies that want straightforward, cost-effective accounts.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Qualification depends on meeting the applicable size conditions, and certain companies are excluded from the regime regardless of size. Meeting the size tests alone does not automatically mean a company is eligible, so it is worth checking your specific position rather than assuming. If you qualify and the regime suits your circumstances, FRS 105 accounts are the result.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not a requirement. A company that qualifies as a micro-entity can choose to apply the regime — in which case FRS 105 applies — or it can prepare accounts under a fuller framework instead. Some companies prefer the additional disclosure and measurement options found elsewhere, particularly if they have more complex transactions, have investors with specific reporting needs, or expect to grow beyond the regime. The right choice depends on your circumstances.

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. Other eligibility rules and exclusions also apply, and some companies are prevented from using the regime for reasons unrelated to size. Because the conditions interact, it is sensible to have your position reviewed rather than relying on the headline figures alone.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general financial reporting standard for UK companies and applies much more widely, including to small companies that do not use the micro-entities regime. It contains more detailed recognition, measurement and disclosure requirements. FRS 105, by contrast, is a reduced framework built for micro-entities, with simplified presentation, fewer notes and a more straightforward measurement approach. Choosing between them is essentially about whether the micro-entities regime is available to you and whether its simpler output meets the needs of your company and its users.

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

Accounts prepared under FRS 105 still need to be filed with Companies House in the normal way if your company is required to file accounts — the regime changes how the accounts are prepared, not whether they are filed. The micro-entity format is designed to be compatible with the filing requirements that apply to small companies. Filing the accounts is a separate exercise from preparing them, and it is also separate from any Corporation Tax filing you may need to make.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and generally filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with the company's tax position for the period. The figures will usually be connected — the accounts inform the tax computation — but the documents serve different purposes, go to different bodies, and have their own requirements. A Confirmation Statement is a further, separate filing.

Can a new limited company use FRS 105?

A newly incorporated company can use the micro-entities regime if it qualifies and chooses to do so, so FRS 105 is often a practical option in the early years. New companies sometimes have low turnover and few employees but may still need advice on how the size conditions apply to them, particularly in a first accounting period that is shorter or longer than twelve months. It is worth confirming eligibility for your first set of accounts rather than assuming it will follow automatically.

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

Typically you would provide your accounting records for the period — bank statements, sales and purchase information, expense records, payroll details where relevant, and any loan or asset documentation. Details of share capital and any director's loan movements are also useful, as are comparative figures from the previous period. If a previous accountant prepared earlier accounts, copies of those help maintain consistency. The more complete and organised your records are, the smoother and more accurate the preparation of your FRS 105 Micro Entity Accounts will be.