─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Braunton

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities choosing to use the UK micro-entities regime. For companies in Braunton, that means a simpler, more streamlined set of financial statements than those produced under a larger reporting framework, with a balance sheet at the core and disclosures kept to the minimum the standard requires. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect the company’s actual financial records, follow the requirements of the micro-entities regime where it applies, and are presented in a way that is consistent year on year. Eligibility is not automatic — a company must both qualify for the regime and choose to apply it — so the first step is always a proper look at your circumstances, your company structure and how you have reported previously. Whether you are newly incorporated, have traded for years, or are reviewing your current accountant, working with someone who deals with FRS 105 accounts regularly means fewer surprises when it comes to preparing and filing your financial statements.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that says what a very small company’s financial statements need to contain — and, just as importantly, what they do not need to contain. It sits within the UK’s micro-entities regime, an accounting regime made available to companies that meet certain size conditions. FRS 105 applies when a qualifying company chooses to use that regime; it is not something that is imposed on every small company automatically, and choosing it is a decision that should be made with a clear understanding of the trade-offs. The approach under FRS 105 is deliberately pared back. Financial statements are simpler, disclosures are fewer and the measurement rules are more straightforward than those under larger frameworks, which makes it popular with owner-managed companies across Braunton and North Devon who want accounts that are proportionate to the size of the business. The trade-off is reduced flexibility in some areas of accounting treatment and a simpler set of information for readers of the accounts. A short conversation is usually enough to establish whether the micro-entities regime suits how your company operates, and whether FRS 105 Micro Entity Accounts are the right fit for this year and beyond.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is the first test; choosing is the second, because the regime is available rather than compulsory. On the size test, 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. Those conditions sit alongside other eligibility rules and exclusions, which is why meeting the thresholds is not by itself a guarantee that FRS 105 can be used. Certain companies are excluded from the regime regardless of size, and the position can differ for group companies, entities carrying on particular types of activity, or businesses whose reporting requirements are set elsewhere. There is also the question of consistency: once a framework is applied, changing it can affect comparability between years. If your company is based in Braunton and you are unsure whether FRS 105 Micro Entity Accounts are appropriate, the sensible approach is to review the company’s size, structure and activities for the period 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

Well-prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of what the micro-entities regime requires. Our work begins with your financial records — sales and purchase information, bank and cash records, payroll data, asset purchases, loans, stock and any other transactions that affect the year — and turns them into financial statements prepared in line with the FRS 105 framework where your company qualifies for and has chosen the micro-entities regime. Preparing the accounts and dealing with the filing are related but separate steps. The financial statements are finalised and then a copy is submitted to Companies House as part of your company’s accounts filing obligation. Corporation Tax is handled separately, through a CT600 submitted to HMRC along with a computation based on the figures. Both matter, and getting the numbers consistent between them avoids the sort of queries that slow things down later. A Confirmation Statement is also a distinct filing and is not part of FRS 105 Micro Entity Accounts. Because the assessment of eligibility depends on your company’s size, structure and circumstances, the figures for the year are reviewed before a reporting framework is confirmed, and any change in your position is flagged to you rather than assumed.

ICAEW

ACCA

AAT

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

If you would like your FRS 105 Micro Entity Accounts handled properly, the best place to start is a straightforward conversation about your company. Tell us how the business is structured, roughly how it has performed this year, how you currently keep your records and how the accounts have been prepared previously, and we can assess whether the micro-entities regime looks like the right route for you. Bring along your bookkeeping or accounting software access, bank statements, details of any assets, loans or director transactions, and anything outstanding from earlier periods so nothing holds up the process. We will explain what is involved, how the work is structured and what our fees look like before anything begins, with clear, transparent pricing and no surprises along the way. If you are based in Braunton or elsewhere in North Devon and want help with FRS 105 Micro Entity Accounts, get in touch and we will 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 in simple terms?

FRS 105 is the UK financial reporting standard for micro-entities. It sets out a simplified set of rules for preparing financial statements — a short balance sheet with limited notes — and applies to companies that qualify for the micro-entities regime and choose to use it. It is one of a number of available reporting frameworks, and the one designed for the very smallest companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities under the UK rules and then decide to apply the micro-entities regime. 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. Other eligibility rules and exclusions also apply, so meeting the size conditions on their own does not guarantee that a company can or should use FRS 105.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available regime rather than a mandatory one. A company that qualifies can choose to apply it and therefore prepare FRS 105 Micro Entity Accounts, or it can prepare accounts under a different framework such as FRS 102. The choice is usually made with an eye on the company's activities, its stakeholders and any plans that could change its accounting needs in the future.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels. FRS 105 is the micro-entities standard, with simplified measurement rules and minimal disclosure requirements. FRS 102 is the standard used by most other small and medium-sized companies, and it allows more accounting options and requires more detailed disclosures. FRS 102 Section 1A is a lighter version for small companies, but it is still more comprehensive than FRS 105.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Yes. Where a company prepares accounts, a copy of those accounts is filed with Companies House as part of its statutory accounts filing obligation, within the filing deadline that applies to that company's accounting period. This is separate from the Corporation Tax Return submitted to HMRC and from the Confirmation Statement, which are different filings with different purposes.

Is a Corporation Tax Return separate from the FRS 105 accounts?

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, supported by a tax computation. The accounts often provide the starting point for the tax figures, but they are prepared and submitted separately, and the two filings should be kept consistent with one another.

Can a new limited company use FRS 105?

A newly incorporated company is not automatically eligible simply because it is new or small. Eligibility depends on whether the company qualifies for the micro-entities regime and whether it chooses to apply it. A first accounting period can raise its own questions — around the period length, start-up costs, and any transactions between the company and its directors — so it is worth checking the position before assuming FRS 105 is the right framework.

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

Typically you will need complete bookkeeping records for the period, bank and cash statements, sales and purchase records, payroll information if you employ staff, details of any assets bought or sold, loan and finance agreements, stock figures where relevant, and information about transactions with directors or connected parties. Access to your accounting software is helpful, as is a copy of the previous year's accounts so that figures and presentation stay consistent.

Are there changes coming to micro-entity accounts filing?

The way small and micro-entity accounts are filed with Companies House is changing, including a move towards filing through compatible software and evolving requirements around what the filed accounts must include. The detail and timing depend on the rules in force when your accounts are due, so it is sensible to confirm your position ahead of your next filing date rather than relying on how things worked in previous years.