─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ayr

FRS 105 Micro Entity Accounts in Ayr are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the micro-entities regime. FRS 105 is the standard that sets out how those accounts are put together — the measurement basis, the primary statements and the limited notes that accompany them. Whether a company qualifies is a question of fact, based on the size conditions in company law and the relevant rules and exclusions, so eligibility is never automatic simply because a business is small. Professional preparation helps to make sure the accounts are built from your actual financial records, reflect the transactions and balances of the period, and are presented in the format the micro-entities regime expects for your company’s circumstances. It also helps to keep the accounts consistent with the information you have reported elsewhere, so the figures you file tell a coherent story.

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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 for micro-entities. It sits in the same family of UK accounting standards as FRS 102, but it is deliberately pared back: fewer accounting options, a historical cost basis, simpler measurement and a much shorter set of disclosures. In everyday terms, it exists so that very small companies can produce financial statements that are genuinely useful and proportionate, rather than being buried in the level of detail designed for larger businesses. The micro-entities regime is the legal framework that allows a qualifying company to prepare accounts on this simplified basis, and FRS 105 is the standard that applies when that regime is chosen — the two go hand in hand. A company that qualifies can still choose a different framework if it prefers, but where the micro-entities regime is adopted, the financial statements are prepared under FRS 105. That is why these accounts look different from small company accounts prepared under FRS 102 Section 1A: the balance sheet is the headline statement, the notes are brief, and there is far less disclosure. If you run a small company in Ayr and want to know whether this route suits you, the starting point is a straightforward review of your figures and your circumstances.

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. Qualification is a matter of fact rather than preference. 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. Meeting those size conditions is the test most directors recognise, but it is not the whole story. Company law and the standard itself contain further rules and exclusions, and the way the conditions are applied can depend on the period in question and on the company’s history, so a business that looks small on paper is not automatically eligible. A newly incorporated company may qualify for its first period if it meets the conditions, while companies that fall outside the regime — or that simply prefer a fuller reporting framework — will use a different standard such as FRS 102. In short, size is the starting point rather than the finish line, and the sensible approach for a company in Ayr is to check its position against the current rules before deciding.

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 in Ayr

Professionally prepared FRS 105 Micro Entity Accounts are built from the records you already keep: your bookkeeping, bank and card statements, sales and purchase records, payroll information, asset details, loan agreements and share capital information, along with comparative figures from the previous period. Working from those records, the accounts are prepared in line with the reporting requirements that apply to your company, so the balance sheet, the notes and any other required information are presented in the expected format. It is worth being clear about what sits where. The preparation of the financial statements is a separate exercise from filing them at Companies House, and both are separate again from your Corporation Tax position. FRS 105 accounts are the financial statements; a Corporation Tax Return (CT600) is a distinct filing submitted to HMRC, even where the figures start from the same underlying records and are then adjusted for tax. We can prepare the accounts, support you with the Companies House submission, and handle the tax side as a related but separate piece of work, so nothing gets muddled along the way. Nothing here guarantees a particular outcome — the accounts must reflect the company’s own transactions and position — but careful preparation gives you a set of statements that are consistent with the rest of your filings and easier to stand behind.

ICAEW

ACCA

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

If you would like to know whether FRS 105 Micro Entity Accounts are the right fit for your company, or you simply want the accounts prepared properly and filed without the usual last-minute scramble, get in touch. Tell us about your business — what it does, how it is structured, when your accounting period ends and how you currently keep your records — and share the information needed to assess your circumstances, such as your bookkeeping, bank statements, payroll details and any previous accounts. From there we can explain how the micro-entities regime applies to you, what the accounts will look like and what you need to do next. Clear, transparent pricing and fixed-fee options are available, so you know where you stand before any work begins.

─── 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 how a qualifying company that has chosen the micro-entities regime prepares its financial statements — the measurement basis, the primary statements and the limited notes that go with them. Compared with FRS 102 it offers fewer accounting options, a historical cost basis and much shorter disclosure requirements, which is what makes it proportionate for very small companies.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. In practice that means being within the size conditions set for micro-entities and not falling foul of the rules and exclusions that sit around the regime. A company that qualifies is not obliged to use it, and a company that does not qualify cannot simply opt in. A newly incorporated company may qualify for its first accounting period if it meets the conditions for that period.

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 therefore prepare FRS 105 accounts, or it can prepare accounts under another framework, such as FRS 102. The decision is usually made with an eye on disclosure, the needs of lenders or investors, and how the figures will be used, and it is worth keeping under review as the business grows.

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, so meeting the size conditions alone does not always mean a company qualifies. The detailed rules, including how the conditions are tested, are set out in company law and in the standard itself.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company and offer different levels of detail. FRS 105 is the micro-entity standard: historical cost, minimal accounting policy choices, a much shorter set of financial statements and limited notes. FRS 102 is used by larger small companies and others, with Section 1A providing a reduced disclosure regime for small companies. FRS 102 typically allows more options — such as certain fair value or revaluation treatments and deferred tax accounting — and requires fuller disclosure. The trade-off is simple: FRS 105 gives you simplicity, while FRS 102 gives you flexibility and more information for readers.

Do FRS 105 accounts need to be filed with Companies House, and is a CT600 separate?

Yes to both, and they are different things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and normally filed at Companies House for the accounting period within the statutory filing deadline. A Corporation Tax Return (CT600) is a separate submission made to HMRC to report the company's taxable profits, and it starts from the accounts but is adjusted for tax rules. Filing your accounts does not satisfy your Corporation Tax obligations, and submitting a CT600 does not replace the accounts. A Confirmation Statement is a third, separate filing.

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

Broadly, the records that show what the company owns, owes, earns and spends during the period. That usually means bookkeeping or accounting software reports, bank and credit card statements, sales and purchase records, payroll information, details of any loans or leases, fixed asset additions and disposals, share capital and dividend information, and the previous period's accounts for comparison. If your records are incomplete, we can work with you to tidy them up first, because the accounts need to reflect the company's actual transactions and position.

Are there changes coming to micro-entity accounts filing?

Companies House filing requirements have been the subject of reform, and proposals have included requiring small and micro-entity companies to file more information — such as a profit and loss account — alongside or within the accounts, with certain exemptions and transitional arrangements. Because timings, exemptions and detailed requirements have been developed through consultation and further guidance, the position can change. Rather than rely on what applied a few years ago, it is worth checking the current requirements for your period, and we can confirm what applies when your accounts are prepared.