─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Angus — Prepared for Qualifying Micro-Entities

If your company qualifies for the UK micro-entities regime and you have chosen to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the simplest accounting standard available to qualifying UK companies, and it is designed around the needs of very small businesses that want straightforward, cost-effective financial statements without the added complexity of larger reporting frameworks. For companies across Angus — from Arbroath and Forfar to Brechin, Montrose and the surrounding rural areas — professional preparation helps ensure your accounts are put together appropriately for your company’s individual circumstances, reflecting the transactions actually recorded in your books and the reporting requirements that apply to you. Good preparation also means your figures are presented consistently and in a format that makes sense to you, your bank, your customers and any other party who needs to understand your financial position. Whether you are filing for the first time, moving across from a different accounting framework, or simply want your existing records tidied up and presented properly, the aim is the same: accurate, well-presented FRS 105 Micro Entity Accounts that you can understand and rely on. It is worth noting that eligibility is not automatic — meeting the size conditions is only part of the picture, and other rules and exclusions can affect whether the micro-entities regime is available to your company in a given period. A short conversation about your circumstances is usually the quickest way to establish where you stand.

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FRS 105 Micro-Entity Accounts

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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 Simplest Reporting Framework for Qualifying UK Micro-Entities

FRS 105 is the financial reporting standard that sits at the very bottom of the UK’s accounting framework. It is written specifically for micro-entities — the smallest companies in the UK — and it applies when a qualifying company chooses to use the micro-entities regime. In plain terms, the micro-entities regime is an optional accounting regime: if your company fits the eligibility conditions, you can decide to apply it, and if you do, FRS 105 is the standard you use to prepare your financial statements. What makes FRS 105 distinctive is its simplicity. Compared with the fuller frameworks used by larger companies, it strips out much of the measurement complexity and most of the disclosure requirements, which means shorter accounts, fewer notes and less time spent on reporting. The trade-off is that the accounts give a simpler picture, and there are limits on things like revaluation and certain fair value treatments. FRS 105 financial statements typically include a balance sheet, a profit and loss account (often presented in a very concise form), and a small number of notes, prepared on the basis that the company is a going concern and using historical cost, subject to the rules of the standard. Because the micro-entities regime is a choice rather than a default, it is worth checking whether it genuinely suits your company — for example, where a lender, investor or customer expects a fuller set of accounts, a different framework may be more appropriate. For many small companies in Angus, though, FRS 105 Micro Entity Accounts offer a clear, proportionate and practical way to meet their reporting obligations.

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. Qualification is based on size, but size is not the whole story. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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 during the period. That is the usual starting point, and for many small companies in Angus — sole-director consultancies, small family businesses, trades and local service companies — those thresholds will comfortably be met. However, meeting the size conditions does not automatically mean a company is eligible. Other eligibility rules and exclusions apply, and some entities are excluded from the micro-entities regime entirely regardless of how small they are. There are also specific rules covering group situations and companies that have recently changed status or size. On top of that, applying the micro-entities regime is a choice: a qualifying company can elect to use it and prepare FRS 105 Micro Entity Accounts, or it can apply a fuller framework such as FRS 102 instead. Because eligibility and suitability are not quite the same question, the most reliable approach is to look at your company’s particular circumstances — its size, its structure, who relies on its accounts, and what it needs them for — before deciding. If you are unsure where you sit, a short review of your last accounts and current figures is usually enough to give you a clear answer.

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 Angus Companies

Preparing FRS 105 Micro Entity Accounts is not simply a matter of dropping your bookkeeping figures into a template. The accounts need to be built from your company’s financial records — bank statements, sales and purchase records, expense receipts, payroll information, asset purchases and any loans or director transactions — and then presented in line with the reporting requirements that apply to a company using the micro-entities regime. Professional preparation means reviewing those records, checking that income and costs have been captured in the right period, and making sure the balance sheet tells a coherent story that matches what actually happened in the business. It also means producing the financial statements in a form suitable for the company’s members and, where relevant, for filing at Companies House. It is important to keep two things separate here. Preparing and filing FRS 105 Micro Entity Accounts is an accounting and company reporting exercise. A Corporation Tax Return (CT600) is a separate filing made to HMRC, based on the company’s profits for the period, and it is not the same thing as the accounts themselves. Similarly, a Confirmation Statement is a separate Companies House filing that confirms the company’s registered details; it is not a set of accounts. Understanding which document does what helps you stay on top of your obligations and avoid unnecessary confusion. What we can do is prepare your FRS 105 Micro Entity Accounts carefully and accurately, based on the information you provide and the framework applicable to your company, and explain clearly what has been done and why. No firm can guarantee a particular outcome or acceptance of a filing, but careful, methodical preparation based on good records gives you a solid foundation.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Angus

If you are unsure whether the micro-entities regime is right for your company, or you simply want your FRS 105 Micro Entity Accounts prepared properly and without the usual last-minute panic, get in touch. Tell us a little about your company — what it does, when your accounting period ends, what records you already keep, and whether you have filed accounts before. That gives us enough to assess your circumstances and explain the practical options open to you. Whether you are a newly formed company in Angus filing for the first time, an established business switching frameworks, or a director who has inherited a set of records that need sorting out, we can talk through what is involved and what information we would need from you. There is no obligation and no pressure — just a straightforward conversation about your FRS 105 Micro Entity Accounts requirements, with clear, transparent pricing explained up front.

─── 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 applies when a qualifying company chooses to apply the micro-entities regime, and it allows the simplest form of financial statements permitted in the UK. Compared with larger-company frameworks, it involves fewer measurement options and far fewer disclosure requirements, which keeps the accounts short and proportionate to the size of the business.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Qualification is not automatic: a company generally needs to meet at least 2 of 3 size conditions, and a range of other eligibility rules and exclusions can also apply — for example, certain types of company are excluded from the regime regardless of size. Because the rules interact, it is worth checking your specific position rather than assuming you qualify.

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 following 3 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 during the period. Meeting two of the three is the usual starting point, but it is subject to the relevant rules and exclusions, so the size tests alone do not guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it and use FRS 105, or it can apply a fuller framework instead. Some businesses decide that a more detailed set of accounts better suits their lenders, investors or customers, in which case FRS 105 may not be the right fit even though the company is eligible.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main financial reporting standard for UK companies and applies to a much wider range of businesses, including small companies that do not use the micro-entities regime. FRS 105 is narrower in scope and simpler in application: it permits fewer accounting treatments and requires far fewer disclosures, so the resulting accounts are shorter and less detailed. In practice, FRS 102 gives a fuller picture and more flexibility, while FRS 105 prioritises simplicity and reduced reporting burden.

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

Where a company is required to file annual accounts, its FRS 105 Micro Entity Accounts are the accounts prepared for that purpose, and they are typically filed at Companies House along with the other information the filing requires. Filing requirements vary with the company's circumstances, so it is worth confirming exactly what applies to you. Filing accounts is separate from filing a Corporation Tax Return with HMRC.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and generally filed at Companies House. A CT600 is a Corporation Tax Return submitted separately to HMRC, calculating the tax due on the company's profits. The figures may overlap, but the documents serve different purposes, go to different bodies, and have their own requirements.

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

In broad terms, we need your company's financial records for the accounting period: bank statements for all business accounts, sales invoices or income summaries, purchase invoices and expense receipts, payroll or director pay details, a list of assets purchased or sold, details of any loans or director's loan movements, and opening balances or prior year accounts if this is not your first set of accounts. The better the records, the smoother and more accurate the preparation process tends to be. If your records are incomplete, that is still worth discussing — it is a common situation and usually easier to resolve than directors expect.