─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bridgend

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime rather than a fuller accounting framework such as FRS 102. For companies in Bridgend and across the UK, that choice affects how the annual accounts are measured, what notes are included and how the figures are presented to shareholders and to Companies House. Professional preparation helps ensure those accounts are put together in a way that reflects your company’s actual circumstances — its trading activity, its assets and liabilities, any loans or director balances, and the accounting policies you have adopted — rather than being slotted into a generic template. It also means someone checks the detail: whether the company still qualifies for the micro-entities regime, whether the figures agree to the underlying records, and whether the disclosure requirements that do apply have been met. Eligibility is never automatic, so it is worth confirming your position before the accounts are drafted.

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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 specifically for micro-entities. If your company qualifies for the micro-entities regime and you decide to use it, FRS 105 is the framework that applies when preparing your annual financial statements. In practical terms it is the simplest of the UK accounting frameworks: it is built around historical cost, so there is generally no fair value accounting and no revaluation of assets, no deferred tax accounting, and a much shorter set of disclosure notes than you would see under FRS 102. The idea is to keep the accounts proportionate to the size and complexity of a very small company, while still producing a balance sheet, a profit and loss account and the limited notes that the framework requires. Choosing the micro-entities regime is a decision for the company, not something that happens by default, and it should be reviewed each year because your circumstances can change. Used well, FRS 105 keeps reporting straightforward and easy to follow for directors and shareholders alike.

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 actively choose to apply it when preparing their annual accounts. Qualification is primarily a question of size. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 those thresholds, however, is not the end of the test. Other eligibility rules and exclusions apply, and some companies are shut out of the regime altogether — for example certain investment undertakings, credit institutions and insurance undertakings, and companies that form part of an ineligible group. Eligibility can also change from year to year as turnover, balance sheet totals and headcount move. If you are a director in Bridgend weighing up whether the micro-entities regime is right for your company, the sensible approach is to check your position against the current rules 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 Accounts in Bridgend

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records. We work from the information your company holds — bookkeeping, bank and credit card statements, sales and purchase records, payroll details, asset purchases, loans, stock and work in progress, plus any prior year accounts — and build the financial statements from there. Alongside the numbers, we consider the reporting requirements that apply to your company under the micro-entities regime, including the format of the balance sheet, the profit and loss account and the notes that are relevant to your circumstances. A key distinction to keep in mind is that the accounts and your Corporation Tax position are handled separately: the annual accounts are prepared under the applicable accounting framework and, where required, filed with Companies House, while the Corporation Tax Return (CT600) is a separate submission made to HMRC. We can help with both, but they are not the same task and one does not replace the other.

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Get Help With Your FRS 105 Micro Entity Accounts in Bridgend

If you are unsure whether the micro-entities regime suits your company, or you simply want your FRS 105 Micro Entity Accounts prepared accurately and on time, get in touch. Tell us a little about your company — what it does, how long it has been trading, roughly what it holds on the balance sheet and how many people it employs — and share your accounting records so we can assess your circumstances properly. We will explain what is involved, what we need from you, and how the accounts fit alongside your other filing responsibilities. Pricing is clear and transparent, with fixed-fee options available for straightforward micro-entity work.

─── 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 that applies to companies using the micro-entities regime. It is the most streamlined of the UK accounting frameworks, built around historical cost, with simplified measurement rules and a much shorter set of disclosure notes than FRS 102. It governs how the balance sheet, profit and loss account and supporting notes are prepared for a qualifying micro-entity.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Qualifying is about size, but also about the type of company: certain businesses are excluded from the regime entirely, and companies that form part of an ineligible group cannot use it. Because eligibility depends on your specific circumstances, it is worth confirming your position rather than assuming it.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force you to use it. A qualifying company may instead prepare its accounts under FRS 102, including the small entities provisions, if that better suits its needs — for example where a lender or investor expects a fuller set of accounts. FRS 105 applies when the micro-entities regime is chosen.

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. Those are the size tests, but they are not the whole story — other rules and exclusions also apply, so meeting the thresholds alone does not automatically guarantee eligibility.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they are designed for different sizes of company. FRS 105 is reserved for the micro-entities regime and permits only a narrow set of measurement bases, with no revaluation or fair value accounting and no deferred tax, plus minimal disclosure. FRS 102 is a broader framework with fuller recognition, measurement and disclosure requirements, including a specific section for small entities. Choosing between them affects both the numbers and the length of the notes.

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

Annual accounts prepared under FRS 105 are normally the accounts a company uses to meet its Companies House filing obligation. A qualifying company can take advantage of the reduced disclosure options available to it, and in many cases the filed accounts are shorter than the full internal set. Filing the accounts is a separate exercise from dealing with Corporation Tax, which is submitted to HMRC.

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

Yes, they are two distinct filings. The accounts are prepared under the applicable accounting framework — FRS 105 where the micro-entities regime applies — and are filed with Companies House where required. The CT600 is the Corporation Tax Return submitted to HMRC and is based on the company's taxable profits, which may differ from the accounting profit shown in the accounts. A Confirmation Statement is a further, separate filing.

What information is needed to prepare FRS 105 accounts?

We generally need your accounting records for the period: sales and purchase information, bank and credit card statements, payroll details if you employ staff, records of asset purchases and disposals, details of any loans or director balances, stock and work in progress figures, and the previous year's accounts for comparison. Company details and any relevant correspondence also help. The cleaner the records, the more straightforward the preparation.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. In practice, many start-ups comfortably meet the size conditions in their early years, but the other eligibility rules still need to be checked, and the position should be reviewed as the company grows and its figures change.