─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Yarmouth

If your company is a qualifying micro-entity, FRS 105 Micro Entity Accounts provide the financial reporting framework you may be able to use. FRS 105 is the UK accounting standard written specifically for companies that qualify for the micro-entities regime and choose to apply it, so it is a different starting point from the fuller reporting frameworks used by larger businesses. Preparing accounts under FRS 105 is not simply a matter of entering figures into a template — it depends on your company’s circumstances, the transactions it has entered into, and the disclosures that apply under the regime. Professional preparation can help you present your figures in a way that is consistent with the standard, keep your records in good order, and produce a set of financial statements that reflects what your business has actually done during the period. For directors in Yarmouth running a small limited company, that means less wrestling with technical detail and more confidence that the accounts are put together appropriately for the framework being used.

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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 in Simple Terms

FRS 105 is the Financial Reporting Standard that applies to UK companies using the micro-entities regime. In plain terms, it is a simplified accounting framework: it allows qualifying companies to prepare accounts on a historical cost basis, with a reduced set of notes and simpler measurement rules than the larger FRS 102 framework. Because it is simpler, it can also produce a different picture of profit and of the balance sheet than you might see under other standards — which is why it matters that the choice is made deliberately rather than by default. The important point is that FRS 105 is not automatic. A company must first qualify as a micro-entity, and then it must choose to apply the micro-entities regime; FRS 105 applies when that regime is the one being used. Where a company does not qualify, or where the directors prefer a fuller set of financial statements, a different framework will be appropriate. Our role is to help you understand which regime fits your circumstances and to prepare your FRS 105 Micro Entity Accounts on that basis.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and that choose to apply it. For accounting periods beginning on or after 6 April 2025, qualification generally means meeting at least 2 of 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 an important part of the picture, but it is not the whole of it. Additional eligibility rules and exclusions can apply to particular companies or circumstances, and a company that meets the size tests is not automatically guaranteed to be eligible. It is also worth remembering that qualifying is only half the decision — the micro-entities regime is an accounting option, and directors of a qualifying company may still prefer a fuller framework. If you are unsure where your Yarmouth company stands, the sensible approach is to look at your specific circumstances, your accounting period dates and any exclusions that might be relevant before deciding how to prepare your accounts.

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

Preparing FRS 105 Micro Entity Accounts starts with your underlying financial records — bookkeeping, bank transactions, sales and purchase information, payroll details and asset records — and turns them into a set of financial statements prepared under the micro-entities regime. The work involves reviewing the figures, considering how the transactions should be treated under FRS 105, and presenting the results in the format the framework expects, including the reduced notes and disclosures that apply. It is worth separating two distinct things that often get bundled together: the preparation of financial statements and their filing at Companies House, and the company’s Corporation Tax position, which is dealt with through a separate CT600 return submitted to HMRC. A Confirmation Statement is a further, different filing. Keeping those strands clear helps directors in Yarmouth understand what is being prepared, when, and on what basis, and it gives you a coherent set of records behind the numbers you report.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts

If you would like to discuss your FRS 105 Micro Entity Accounts, get in touch and tell us a little about your company — what it does, how it is structured, when your accounting period ends and what records you currently keep. From there we can look at whether the micro-entities regime appears to suit your circumstances, explain what information we would need to prepare the accounts, and set out how the work would be handled. Pricing is clear and transparent, with fixed-fee options available, so you know what you are agreeing to before anything begins. Whether you are a new company preparing accounts for the first time or an established business reviewing how your accounts are put together, a straightforward conversation is a sensible place to start.

─── 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 is a simplified framework, allowing accounts to be prepared on a historical cost basis with a reduced set of notes and simpler measurement rules than the fuller FRS 102 standard. It is not a tax regime — it governs how the financial statements are prepared, not how much tax is payable.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and then choose to apply the micro-entities regime. Qualifying is only the first step: the regime is an available option, not something imposed automatically. Companies that do not qualify, or that are excluded for other reasons, will need a different framework. Because the rules and exclusions can be detailed, it is worth checking your specific position before assuming FRS 105 is available to you.

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 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 the size tests alone does not automatically guarantee eligibility — other rules and exclusions can apply, and the position can change if the company's circumstances change.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying as a micro-entity means the regime is available to you, not that you must use it. Some companies that could use FRS 105 choose a fuller framework instead, often because they want more detailed information in their accounts or because a lender, investor or other party has asked for it. The decision is the directors' to make, and it is worth considering deliberately rather than simply defaulting to the smallest option.

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

FRS 105 accounts are the company's statutory financial statements, so where a company prepares accounts under the micro-entities regime, those accounts form the basis of what is filed at Companies House, subject to the applicable filing requirements for the company's size and type. The filing of accounts is a separate exercise from the company's Corporation Tax return, and a separate exercise again from the Confirmation Statement. It helps to think of these as three distinct obligations rather than one combined task.

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, dealing with how the company's results are reported. A CT600 is a Corporation Tax return submitted to HMRC, dealing with the company's tax position. The two are connected because the accounts figures feed into the tax computation, but they are separate documents with separate purposes and separate submission routes. Preparing one does not, by itself, discharge the other.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities framework and is deliberately the simpler of the two. It works on a historical cost basis with a reduced set of disclosures. FRS 102 is the fuller standard used by a much wider range of companies, and it allows or requires more measurement options and far more extensive notes. Because the measurement rules differ, the same year's trading can produce a different reported profit under each framework — which is one reason the choice of regime deserves proper thought.

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

Typically we would look for your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, payroll details if you employ staff, details of any assets bought or sold, and information about loans, directors' loan accounts and any share capital. If you are coming from another adviser, the previous year's accounts are helpful too. The clearer your records, the smoother the preparation process tends to be.