─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ashbourne: Clear Financial Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts are prepared under the UK micro-entities regime, which is an available accounting framework for companies that qualify and choose to apply it. In Ashbourne, many small limited companies look to FRS 105 because it offers a simpler basis for preparing annual financial statements, with reduced disclosure requirements compared with larger reporting frameworks. Professional preparation can help ensure your FRS 105 Micro Entity Accounts are put together from your accounting records in line with the applicable reporting requirements, and that the figures presented reflect your company’s circumstances. It is important to remember that not every small company automatically qualifies for the micro-entities regime; eligibility depends on the relevant size conditions and other rules or exclusions, so your position should be checked before FRS 105 is adopted.

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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: What the Micro-Entities Regime Means for Ashbourne Companies

FRS 105 is the financial reporting standard used in the UK for companies that qualify as micro-entities and choose to apply the micro-entities regime. In simple terms, it gives qualifying companies a more straightforward way to prepare their annual accounts, focusing on the information that matters most for a small business while avoiding much of the detail required under larger frameworks. The micro-entities regime is not compulsory for every small company; it is an option available to those that meet the eligibility criteria and decide to use it. When that regime is chosen, FRS 105 applies to the preparation of the company’s financial statements. For companies in Ashbourne, FRS 105 Micro Entity Accounts can be a practical route to keeping annual reporting proportionate, but eligibility and the appropriate accounting treatment should always be reviewed against the company’s specific circumstances.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility for Ashbourne Companies

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. 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. These conditions are subject to the relevant rules and exclusions, so meeting the size thresholds alone does not automatically guarantee eligibility. Some companies may be excluded from the micro-entities regime, and the decision to apply FRS 105 should be made with reference to the company’s specific circumstances. If you run a company in Ashbourne and are considering FRS 105 Micro Entity Accounts, it is sensible to review eligibility before the accounts are prepared.

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 in Ashbourne

Professionally prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of the company’s financial position. We work from your records — such as bank statements, sales and purchase invoices, payroll information, and asset details — to prepare financial statements under FRS 105 where the company qualifies for and uses the micro-entities regime. The preparation of the accounts is separate from your Corporation Tax obligations: FRS 105 accounts are the annual financial statements, while a CT600 is a separate return submitted to HMRC to report Corporation Tax. Where required, the accounts can also be prepared for filing with Companies House, subject to the relevant rules and the information available. The aim is accurate financial reporting that reflects your company’s transactions and is suitable for the regime it applies.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Ashbourne

If your company may qualify for the micro-entities regime and you would like support with FRS 105 Micro Entity Accounts in Ashbourne, we can help you work through the requirements. Tell us about your company, its accounting period, current records, and any previous accounts or filings, and we can assess what is needed to prepare your financial statements appropriately. Whether you are newly incorporated, already trading, or reviewing your current reporting approach, discussing your circumstances is the best way to understand your options. Get in touch to talk through your FRS 105 Micro Entity Accounts requirements.

─── 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 company qualifies for the micro-entities regime and chooses to use it. It allows simpler financial statements with reduced disclosures compared with FRS 102. It is not a tax return.

Who can use FRS 105?

FRS 105 is available to companies that qualify under the UK micro-entities regime and decide to apply it. Qualification depends on size criteria and other rules or exclusions. 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. Meeting these alone does not guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not an automatic requirement. A company that qualifies may choose to apply it, but it may also be able to use another framework such as FRS 102 if eligible. The choice should consider the company’s circumstances, users of the accounts, and any legal or commercial requirements.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the main size conditions are 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. A company generally must meet at least 2 of these 3 conditions, subject to the relevant rules and exclusions. Other factors may affect eligibility, so it is worth checking before applying FRS 105.

What is the difference between FRS 105 and FRS 102?

FRS 105 is designed for qualifying micro-entities and uses simpler recognition and measurement rules with fewer disclosures. FRS 102 is a broader financial reporting standard used by many other companies, with more detailed accounting and disclosure requirements. Some transactions may be treated differently under each framework, so the choice can affect the figures and notes in the accounts.

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

Companies that prepare FRS 105 Micro Entity Accounts will usually need to file annual accounts with Companies House, subject to the filing requirements that apply to the company. The accounts filed may be prepared under the micro-entities regime and can follow the reduced disclosure options available. This filing is separate from any Corporation Tax return submitted to HMRC.

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

Yes. FRS 105 accounts are the company’s annual financial statements prepared under the micro-entities regime where applicable. A CT600 is a separate Corporation Tax return submitted to HMRC to report the company’s taxable profits and calculate Corporation Tax. The figures may be based on the accounts, but the two filings serve different purposes and have different requirements.

What information is needed to prepare FRS 105 accounts?

To prepare FRS 105 Micro Entity Accounts, we typically need your accounting records for the period, including bank statements, sales and purchase invoices, expense receipts, payroll details, loan or finance agreements, asset purchases and disposals, stock or work-in-progress information where relevant, and any previous accounts or company formation details. Having clear records helps ensure the accounts are prepared accurately and efficiently.