─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bristol

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplest UK financial reporting framework available to qualifying companies. In Bristol, many smaller limited companies choose this route because it keeps the numbers straightforward and the disclosures light, while still producing statutory accounts that reflect the company’s trading activity. FRS 105 applies when a company qualifies for the micro-entities regime and chooses to apply it, so eligibility should always be checked against the current size conditions and the relevant rules and exclusions rather than assumed. Professional preparation helps ensure your accounts are built correctly from your underlying records, that the figures are presented consistently with the framework, and that the resulting financial statements are ready for the filings that apply to your company. It also gives you a clear picture of your profit, your balance sheet position and the tax implications flowing from them, which is useful well beyond the filing itself.

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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 the micro-entities regime. In simple terms, it is a stripped-back set of accounting rules: assets and liabilities are generally kept at cost rather than revalued, complex fair value adjustments are avoided, and the disclosure notes are kept to a minimum compared with larger frameworks. A company that qualifies as a micro-entity can choose to apply the micro-entities regime, and where that choice is made, FRS 105 is the framework used to prepare the financial statements. Those statements still include a balance sheet, and they still need to give an accurate picture of the company’s position — the difference is mainly in how much detail and how much technical measurement work is involved. For eligible companies, this can mean lower preparation costs and a set of accounts that is easier to read and understand, which is often exactly what a small Bristol company wants from its year-end reporting.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for UK companies that qualify for the micro-entities regime and choose to apply it — it is not available to every small company by default. 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 can also apply, and certain types of company are not eligible for the regime at all, so satisfying the size conditions alone does not automatically guarantee eligibility or mean FRS 105 must be used. Where a Bristol company does qualify and chooses the micro-entities regime, FRS 105 becomes the framework for preparing its financial statements, and the accounts are prepared on that basis for the period concerned. If your circumstances change — for example turnover grows or the company structure develops — eligibility should be reviewed again, because the appropriate framework is assessed in light of the position at the relevant time.

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 properly starts with your financial records: bookkeeping, bank transactions, sales and purchase invoices, payroll information, asset purchases and any loan or director’s loan movements during the period. From those records, the financial statements are built in line with FRS 105 and the applicable reporting requirements, so that the balance sheet, the notes and the figures carried into the filing all tell the same story. It is worth being clear about what sits where: the preparation of the accounts and the filing of those accounts with Companies House are one process, while Corporation Tax — including the CT600 return submitted to HMRC — is a separate obligation with its own calculations and its own adjustments, such as disallowable expenses or capital allowances. Keeping the two clearly separated reduces the risk of confusion and helps make sure nothing is missed. Because every company’s circumstances differ, the accounts are prepared around your figures rather than a template, and everything is explained in plain English so you understand what has been reported and why.

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ACCA

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

If your Bristol company is approaching its year end, or you simply want to know whether the micro-entities regime is the right fit, get in touch to discuss your FRS 105 Micro Entity Accounts requirements. Tell us a little about your company — its trading activity, the period you need accounts for, and how you currently keep your records — and we can consider whether FRS 105 is likely to apply, or whether a different framework may suit you better. Bring along your bookkeeping, bank statements and any relevant documents, and we will explain clearly what is needed next, what the preparation involves and how the accounts fit alongside your other filing obligations.

─── 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 simplified of the UK accounting frameworks, designed for very small companies. It generally keeps assets and liabilities at cost, avoids fair value accounting and revaluations, and requires far fewer disclosure notes than larger frameworks. Where a qualifying company chooses to apply the micro-entities regime, FRS 105 is the framework used to prepare its financial statements.

Who can use FRS 105, and what are the eligibility criteria?

FRS 105 is intended for companies that 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 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 the size conditions is not the whole picture, though — other eligibility rules and exclusions can apply, so eligibility should be assessed properly for your company's specific circumstances rather than assumed.

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 as a micro-entity can choose to apply the regime, and FRS 105 applies when that choice is made. Some qualifying companies prefer a different framework — for example FRS 102 — particularly if they want to present more detail, or if a lender, investor or group relationship makes a fuller set of accounts more appropriate.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards that can apply to small companies, but they differ in complexity. FRS 105 is the micro-entities framework: measurement is largely at cost, revaluations and fair value adjustments are generally not permitted, and disclosures are minimal. FRS 102 is a fuller framework used by a much wider range of companies. It allows certain fair value and revaluation options and requires more extensive notes. In short, FRS 105 prioritises simplicity, while FRS 102 offers more flexibility at the cost of more preparation work.

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

Where a company is required to file annual accounts, the accounts prepared under FRS 105 form the basis of the statutory accounts submitted to Companies House. Filing obligations and deadlines depend on your company's circumstances, so it is worth confirming what applies to you. The key point is that preparing the accounts and filing them are part of the same annual accounts process, and it is separate from any Corporation Tax filing made to HMRC.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare your company's financial statements. A CT600 is a Corporation Tax Return submitted separately to HMRC. The starting point for the CT600 is usually the profit shown in the accounts, but the two are not identical: tax adjustments such as disallowable expenses, capital allowances, and other allowances or reliefs can mean the taxable profit differs from the accounting profit. Both need to be dealt with, and they follow different processes.

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

As a starting point, we would normally look for your bookkeeping records or a full listing of transactions for the period, bank and credit card statements, sales and purchase invoices, payroll information, details of assets bought or sold, and any loan or director's loan activity. Details of stock or work in progress, plus any accruals or prepayments, are also helpful. If your records are incomplete, that is not usually a barrier — it simply means we discuss what is available and what needs to be pulled together before the accounts can be finalised.

What changes are coming to micro-entity accounts filing?

The way accounts are filed with Companies House has been changing, with a move towards filing through software rather than manual web or paper submissions, and with more information required in the filed accounts. Because these changes are being introduced over time, the exact requirements depend on when your accounts are due. It is worth checking the current Companies House guidance or asking us to confirm what applies to your filing, rather than relying on older assumptions about what can be submitted.