─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bagillt

FRS 105 Micro Entity Accounts are the streamlined financial statements prepared under the micro-entities regime — the simplest accounting framework available to qualifying UK companies. For directors in Bagillt running a small limited company, FRS 105 can mean shorter, more straightforward accounts with far less disclosure than a full set of financial statements. FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and professional preparation helps make sure those accounts are put together properly for your company’s own circumstances: its trading activity, its assets and liabilities, its accounting records and the reporting requirements that apply to it. Eligibility is not automatic, so it is worth checking the size conditions carefully before assuming the regime is available to you. Working with someone who prepares FRS 105 Micro Entity Accounts regularly means your figures are presented clearly, your disclosures are appropriate, and the accounts are ready for the next stage of your company’s filing obligations.

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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 Accounting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that tells you how to prepare a very small company’s annual accounts — what to include, how to value things, and how much note disclosure is needed. It sits alongside the UK’s micro-entities regime, which is a legal framework that qualifying companies may choose to apply instead of a fuller accounting framework such as FRS 102 Section 1A. When a qualifying company decides to use the micro-entities regime, FRS 105 is the standard it applies when preparing its financial statements. The result is usually a short balance sheet, a small number of notes, and no requirement for the same volume of disclosure that larger frameworks demand. That simplicity is attractive, but it does come with trade-offs — for example, the way certain items are measured can differ from FRS 102, and the accounts are designed for the specific needs of readers of micro-entity financial statements rather than a wider audience. If you run a small company in Bagillt and want to understand whether FRS 105 Micro Entity Accounts suit your business, the starting point is a clear conversation about what you trade, what you own, what you owe, and who relies on your accounts.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and that choose to apply it. Size is the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of these 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. Meeting those size conditions, however, is not the whole story. Other eligibility rules and exclusions apply, and certain types of company or particular circumstances can mean the micro-entities regime is not available even where the turnover, balance sheet and employee tests appear to be satisfied. That means the size thresholds should be treated as a useful guide rather than a guaranteed route in. It is also worth remembering that FRS 105 applies when the micro-entities regime is actually chosen — qualifying does not force a company to use it. For directors in Bagillt weighing up their options, the sensible approach is to look at the company’s specific facts, check the criteria against them, and then decide whether FRS 105 Micro Entity Accounts are the right fit.

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 well starts with good records. Your bookkeeping, bank statements, invoices, receipts, asset purchases, loan agreements, stock information and director’s loan movements all feed into the figures that appear in your financial statements. From there, the accounts are prepared in line with the applicable reporting requirements for a micro-entity, using the measurement and disclosure rules that FRS 105 sets out. Because the framework is deliberately short, the small number of decisions involved matter all the more — how items are classified, what is recognised, and what the accounts show as the company’s position at the year end. It is also important to be clear about what sits where in your filing calendar: the financial statements themselves are prepared under the accounting framework, the statutory accounts are then filed with Companies House, and the company’s Corporation Tax position is dealt with separately through a Company Tax Return (CT600) submitted to HMRC. Those are distinct exercises with their own requirements, and keeping them clearly separated helps avoid confusion. The aim is accurate, well-presented FRS 105 accounts that reflect your company’s transactions and give you a clear picture of where the business stands.

ICAEW

ACCA

AAT

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

If your company may qualify for the micro-entities regime and you would like your year-end accounts prepared under FRS 105, get in touch to discuss your FRS 105 Micro Entity Accounts. It helps to have a short conversation first about your company’s circumstances — what it does, roughly how it has traded, what it owns and owes, and how your records are kept — so we can assess whether the micro-entities regime is likely to be available and appropriate for you. From there we can explain what information is needed, how the accounts will be prepared, and how the statutory accounts and your separate Corporation Tax filing fit together. There is no obligation, and no assumptions are made about your eligibility before we have looked at the detail. Contact us to start the conversation about your FRS 105 Micro Entity Accounts.

─── 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 to apply the micro-entities regime prepares its annual financial statements, including how items are measured and how much disclosure is required. It is a deliberately short, simplified framework compared with standards such as FRS 102, and it exists to reduce the reporting burden on the smallest companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime under the applicable rules and that choose to apply it. Qualifying is about more than size alone — certain company types and circumstances are excluded — so eligibility needs to be checked against your own company's position rather than assumed. If your company qualifies and the directors decide to use the regime, FRS 105 is the standard applied when preparing the accounts.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic requirement. A company that qualifies may choose to apply it, or it may use a fuller framework such as FRS 102 instead. The choice is a decision for the directors, and it is worth considering the practical consequences — including how the accounts will look to lenders, investors or anyone else who reads them — before deciding.

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 during the period. Those figures are the size test only. Other eligibility rules and exclusions also apply, and meeting the size conditions does not by itself guarantee that a company qualifies for the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are written for different audiences. FRS 105 is the micro-entities standard: short, simple and light on disclosure. FRS 102 is a fuller framework, and Section 1A of FRS 102 is used by small companies that are not applying the micro-entities regime. The measurement rules can differ between them, and FRS 102 generally requires more disclosure, so the two can produce accounts that look noticeably different.

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

Where a company prepares its statutory annual accounts under FRS 105, those accounts normally form the basis of the annual accounts filing at Companies House, subject to the filing requirements that apply to the company. The accounts preparation and the filing are two steps in the same process, but the filing itself has its own rules about format and content. It is a separate exercise from your Corporation Tax obligations.

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

Yes. FRS 105 accounts are the company's financial statements, prepared under the accounting framework. A Company Tax Return, usually referred to as a CT600, is a separate Corporation Tax filing submitted to HMRC. The accounts figures often inform the tax return, but they are not the same document, they go to different places, and they are governed by different rules. Keeping both in view — while treating them as distinct — helps avoid confusion at year end.

Can a new limited company use FRS 105?

A newly incorporated company can potentially apply FRS 105 if it qualifies for the micro-entities regime and its directors choose to use it. In the first period of trading, the size conditions are assessed using the rules that apply to a company's first accounting period, and other exclusions can still be relevant. Because a new company has no established track record, it is particularly worth checking eligibility carefully rather than assuming the regime applies.

What information is needed to prepare FRS 105 accounts?

In practice, we need your accounting records for the period — bookkeeping or a trial balance, bank statements, sales and purchase information, details of any assets bought or sold, information on loans and director's loan movements, stock figures where relevant, and anything else that affects the company's financial position at the year end. The exact list depends on how the business operates, and we will confirm what applies to you once we understand your circumstances.