─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Abertillery

If your company is a small, straightforward business based in or around Abertillery, FRS 105 Micro Entity Accounts may be the most suitable way to prepare and present your annual financial statements. FRS 105 is the financial reporting framework that applies to qualifying micro-entities which choose to apply the UK micro-entities regime. It is a simplified, more concise basis of accounting than the fuller standards used by larger companies, and it is designed for businesses whose affairs are relatively simple. Importantly, FRS 105 is not something a company is automatically entitled to use simply because it is small — eligibility depends on meeting the relevant size conditions and on no exclusions applying, and the regime is a choice rather than an obligation. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are presented on the correct basis, that the disclosures included are the ones the framework expects, and that the accounts reflect your actual trading position and circumstances rather than a generic template that may not fit.

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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 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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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 .

─── 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 a stripped-back set of accounting rules that lets very small companies produce shorter, simpler financial statements than they would under a fuller standard such as FRS 102. The UK micro-entities regime is the legal framework that makes this possible, and FRS 105 is the standard that applies when a qualifying company decides to use that regime. Under FRS 105, the accounts are prepared on a historical cost basis, with simpler measurement rules and reduced disclosure requirements, which keeps the financial statements focused on the essentials: what the company owns and owes, and what it has earned. Two points matter here. First, the micro-entities regime is an available option, not a requirement — a qualifying company can choose it, and some companies may prefer or need a different framework. Second, choosing the regime means FRS 105 applies to the financial statements, so the accounts must be prepared on that basis consistently. For directors in Abertillery weighing up how to present their year-end figures, understanding FRS 105 is the starting point for deciding whether it suits the company.

Who Can Use FRS 105 in the UK? Eligibility for Abertillery Companies

FRS 105 in the UK is available to companies that qualify for the micro-entities regime and then decide 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. Those figures give a useful indication of where the boundary sits, but they are not the whole test. There are additional eligibility rules and exclusions built into the regime, and certain entities cannot use it at all, whatever their size. That means a company sitting comfortably within the thresholds might still find that the micro-entities regime is not open to it, while a company near the limits may need a closer look at how the conditions are measured. For directors in Abertillery, the practical point is that eligibility should be assessed on your company’s own facts — its legal form, its activities and its figures — before assuming FRS 105 Micro Entity Accounts are appropriate. And even where a company does qualify, applying the regime remains a choice, with FRS 105 as the standard that applies once that choice is made.

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 for Abertillery Companies

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying financial records — bookkeeping, bank statements, sales and purchase information, payroll details and any asset or liability records — and turns them into a set of financial statements prepared on the correct basis for a micro-entity. Professional preparation involves considering how the framework’s measurement and disclosure rules apply to your particular circumstances, checking that the figures reconcile and presenting the results in the format the micro-entities regime expects. It is also worth being clear about what is and is not part of this work. The financial statements themselves are one deliverable, and the filing of those accounts with Companies House is a separate step with its own requirements. Corporation Tax is separate again: a CT600 is a tax return submitted to HMRC and is not the same thing as FRS 105 accounts, even though the figures in each should be consistent with one another. Where a company has both accounts and tax obligations, the two are handled on different bases and to different deadlines. We prepare FRS 105 Micro Entity Accounts based on the records you provide and the reporting requirements that apply to your company; the accuracy of the outcome depends on the information supplied, and no firm can promise a particular filing result in advance.

ICAEW

ACCA

AAT

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

If you would like to know whether FRS 105 Micro Entity Accounts are the right fit for your company, get in touch and we can talk it through. The most useful starting point is a short conversation about your business — what it does, how it is structured, roughly what size it is, and what you already have in the way of records. From there, we can look at whether the micro-entities regime appears to be available to you, whether choosing it makes practical sense, and what would be involved in preparing your accounts. It also helps to have your latest trial balance or bookkeeping reports, details of any assets or loans, and confirmation of your accounting period to hand, so any discussion is grounded in your real numbers rather than assumptions. There is no obligation and no pressure — just a clear explanation of your options and a straightforward view of what we would need from you 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 for micro-entities. It sets out simplified rules for preparing financial statements, including reduced disclosure requirements and a historical cost basis of accounting, so that very small companies can produce shorter and more straightforward accounts than they would under a fuller standard.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification depends on meeting the relevant size conditions and on no exclusions applying to the company — for example, certain types of entity are not eligible for the regime regardless of size. Meeting the size tests alone does not automatically guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies may choose to apply it, and if it does, FRS 105 applies to its financial statements. Some qualifying companies may instead use a different framework such as FRS 102, depending on their circumstances and preferences.

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. Other rules and exclusions also apply, so the criteria should be checked against your company's specific position rather than assumed.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities standard, offering simpler measurement and far fewer disclosure requirements. FRS 102 is the wider UK standard, covering small, medium and larger entities with more detailed recognition, measurement and disclosure rules. In practice, FRS 105 accounts are shorter and less complex, while FRS 102 accounts give a fuller picture and may be required or preferred in some situations.

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

The financial statements prepared under FRS 105 are the same accounts that a company is generally required to file at Companies House, subject to the filing requirements that apply to it. Preparing the accounts and filing them are separate steps — the accounts are drawn up first, then filed. Filing obligations can vary, so it is worth confirming what applies to your company.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits and calculate tax due. The two serve different purposes, go to different bodies and have their own requirements, although the figures should be consistent with one another.

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

Typically you would need your bookkeeping records for the period, bank statements and reconciliations, sales and purchase information, payroll or employee details, and records of assets, liabilities, loans and any share capital. It also helps to confirm your company's accounting period and any changes in the business during the year, so the accounts reflect what actually happened.