─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bo'ness: Prepared for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts give qualifying UK companies a simpler, more proportionate way to prepare and report their financial statements. FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime: it applies when a company meets the eligibility conditions and chooses to adopt that regime rather than a larger framework such as FRS 102. For a Bo’ness company, that can mean shorter accounts, less disclosure and a reporting pack that reflects the size and shape of a genuinely small business. Eligibility is not automatic, so it is always worth reviewing the size conditions, any exclusions and the company’s own circumstances before deciding. Professional preparation helps you do exactly that — collating the figures from your records, applying the accounting treatment appropriate to micro-entity accounts, and making sure the financial statements are consistent with the information you report elsewhere, including your Corporation Tax filing. Whether you are preparing accounts for the first time or moving across from a different framework, the aim is accounts that are accurate, understandable and suited to your company.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

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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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 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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 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 Your Company

FRS 105 is a UK financial reporting standard written specifically for micro-entities. In plain terms, it is a set of rules telling you how to value things in your accounts and what you need to disclose, kept deliberately short because it is designed for very small companies. It works alongside the UK micro-entities regime, which is the legal regime that allows qualifying companies to prepare simpler accounts. The key point is that the regime is a choice: a company that qualifies can decide to apply it, and FRS 105 is the standard that applies when that choice is made. If a company does not qualify, or decides to use a fuller framework instead, FRS 105 is not the right basis for its accounts. Because FRS 105 accounts are built on your underlying bookkeeping, the quality of the records you keep has a direct effect on how straightforward the process is. Understanding what the standard does — and what it doesn’t — helps you make a sensible, informed decision about how your company reports each year.

Who Can Use FRS 105 in the UK? Eligibility for the Micro-Entities Regime

FRS 105 is intended for UK companies that both 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 the 3 applicable size conditions, subject to the relevant rules and exclusions: 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. It is important to be clear that satisfying the size conditions is not the whole test. Other eligibility rules and exclusions can apply, and certain companies are not permitted to use the micro-entities regime at all, however small they may be. Eligibility can also change from one period to the next as a company grows, shrinks or takes on new activities. That is why it is worth reviewing the position each year — and why, for a Bo’ness company, a short conversation about your circumstances is often the quickest way to establish 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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records: bookkeeping, bank statements, sales and purchase information, payroll details and any asset or liability schedules. From those records, the accounts are built to reflect the company’s position and performance under the micro-entity framework, with the figures and disclosures tailored to the company’s own circumstances rather than a one-size-fits-all template. It is important to keep the different obligations separate. Preparing financial statements under FRS 105 is one task; filing accounts with Companies House is a separate step with its own requirements and deadlines; and a Corporation Tax Return (CT600) is a further, distinct submission made to HMRC, based on the company’s tax position rather than the accounts framework alone. Good preparation means these pieces line up sensibly with one another, so the numbers you report are consistent and the accounts you produce are clear, complete and based on the applicable reporting requirements for your company.

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Get Help With Your FRS 105 Micro Entity Accounts in Bo'ness

If you would like support with your FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your company. Tell us about your trading activity, your bookkeeping and records, whether you have prepared micro-entity accounts before, and any other filing obligations you are juggling. From there, we can look at your circumstances and explain what is involved in preparing FRS 105 financial statements, what information we would need from you, and how the accounts fit alongside your other reporting responsibilities. There is no obligation and no assumption that the micro-entities regime is right for you — the first task is simply to establish whether your company qualifies and whether FRS 105 suits the way you want to report. Reach out, share a little about your business, and we can take it from there.

─── 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 qualifying companies that choose to apply the micro-entities regime should recognise and measure items in their financial statements, and what they need to disclose. It is intentionally concise, reflecting the small scale of the businesses it is designed for, and it is the accounting framework that applies when the micro-entities regime is adopted.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualifying is not just a matter of size — other eligibility rules and exclusions can also apply, and some companies are prevented from using the regime regardless of their figures. In practice, the right approach is to check the company's circumstances against the current rules each year rather than assuming the same answer continues to apply.

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 prepare FRS 105 accounts, but it may instead report under a fuller framework such as FRS 102. Some companies find the micro-entity approach suits them well; others prefer more detailed reporting for reasons of their own, including the expectations of lenders, investors or group companies.

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, subject to the relevant rules and exclusions: 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 conditions does not by itself guarantee eligibility, because other requirements and exclusions may apply.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is deliberately simplified, with fewer measurement options and reduced disclosure requirements. FRS 102 is the broader standard used by larger small companies and others, and it involves more detailed recognition, measurement and disclosure. The framework a company uses affects the content of its accounts, so the choice should be made deliberately.

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

Where a company prepares accounts under FRS 105, those financial statements normally form the basis of what the company files at Companies House, in line with the filing requirements that apply to it. Filing accounts is a separate step from preparing them, and it is also separate from a Corporation Tax Return (CT600), which is submitted to HMRC and deals with the company's tax position. It is worth keeping those obligations and their respective deadlines clearly separated in your diary.

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

Yes, they are two different things. FRS 105 is an accounting and financial reporting framework, and the accounts prepared under it are the company's financial statements. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. Although the two are based on the same underlying records and should tell a consistent story, preparing FRS 105 Micro Entity Accounts does not, on its own, fulfil your Corporation Tax filing obligations.

What information is needed to prepare FRS 105 accounts?

Typically you would provide complete bookkeeping records for the period, bank statements and reconciliations, details of sales and purchases, payroll information, and schedules for any assets, liabilities, loans or stock. It also helps to know whether the company has previously prepared accounts, under which framework, and whether anything unusual happened during the year — such as a change in activity, a new loan or a significant purchase. The clearer your records, the more efficiently the accounts can be put together.

What changes are coming to micro-entity accounts filing?

Filing requirements for small and micro-entity companies at Companies House have been the subject of reform, with proposals to require more information — including profit and loss figures — to be filed than has historically been the case for the smallest companies. Final requirements and their timings can change, so it is sensible to check the current position before you file rather than relying on how things worked in previous years.