─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Brixworth

If your company is based in Brixworth and qualifies as a micro-entity, FRS 105 Micro Entity Accounts may be the most straightforward way to prepare and report your annual financial statements. FRS 105 is the financial reporting framework that applies when a qualifying company chooses to adopt the UK micro-entities regime. It is designed around a simplified format, a historical cost basis and a reduced level of disclosure, which keeps the accounts shorter and easier to follow than those prepared under wider UK GAAP. Eligibility is not automatic — a company needs to satisfy the size conditions and consider whether any of the relevant exclusions apply — so professional preparation is about more than copying figures into a template. It means reviewing your records, confirming that the micro-entities regime is available and appropriate for your circumstances, and preparing the financial statements on a consistent and properly supported basis. For Brixworth directors and owners, that combination of simplicity and accuracy is what makes FRS 105 Micro Entity Accounts worth discussing with an accountant who works with micro-entities regularly.

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FRS 105 Micro-Entity Accounts

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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.

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 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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 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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 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. 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that sets out how a qualifying company’s annual accounts should look when that company chooses to apply the micro-entities regime. Where FRS 105 Micro Entity Accounts are prepared, the balance sheet and profit and loss account follow a simplified format, assets are generally held at historical cost rather than being revalued or measured at fair value, and far fewer notes are required than under other UK accounting standards. The idea behind it is proportionality: small, straightforward businesses should not have to produce financial statements that are as long and complex as those of a much larger company. It is important to understand that FRS 105 sits alongside the micro-entities regime rather than replacing it — a company must first qualify for the regime and then choose to apply it, and FRS 105 is the standard used once that choice is made. If a qualifying company prefers to report on a different basis, other UK standards are available, and the right answer depends on the company’s size, ownership, lenders and future plans. For Brixworth businesses weighing this up, the practical question is usually simple: do the reduced reporting requirements of FRS 105 Micro Entity Accounts suit how the company is structured and how its accounts will be used?

Who Can Use FRS 105 Micro Entity Accounts in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is a two-part test: the company must satisfy the size conditions, and it must not fall within any of the exclusions that take a company outside the regime. 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, which are 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 size conditions is a strong indication that the regime may be open to you, but it does not by itself guarantee eligibility — other rules and exclusions can apply, and the position can change as a company grows, takes on investment, restructures or changes what it does. Directors also have a choice: if the company qualifies, it can still decide to report under a different framework. For companies in and around Brixworth, the sensible approach is to look at the figures, the company’s structure and who relies on the accounts, then confirm which framework fits 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 Micro Entity Accounts for Brixworth Companies

FRS 105 Micro Entity Accounts are prepared from your company’s financial records and the reporting requirements that apply to it. In practice, that starts with accurate bookkeeping — bank transactions, sales invoices, purchase records, payroll information, asset purchases and any director’s loan movements — and then applies the recognition, measurement and disclosure rules of FRS 105 to produce a compliant set of financial statements. Two separate obligations are often confused, so it helps to be clear about them. The first is the preparation of the annual accounts and their delivery to Companies House as the company’s statutory accounts. The second is the Corporation Tax position, which involves a separate computation and a Corporation Tax Return (CT600) submitted to HMRC. Completing one does not automatically complete the other, and a CT600 is not a substitute for filing accounts. Working with an accountant means the figures are prepared consistently with the prior year, that the micro-entities regime has been considered properly for your circumstances, and that the accounts and the tax filing are approached as distinct pieces of work with their own requirements and deadlines. We cannot guarantee how any third party will respond to a filing, but we can make sure the preparation work is done carefully, transparently and with clear explanations of the basis used.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Brixworth

If you would like to talk through your FRS 105 Micro Entity Accounts, the first step is a straightforward conversation about your company and how it currently reports. It helps to have your latest accounts, a trial balance or bookkeeping export, details of any fixed assets and loans, and a note of any changes in the business since the last accounting period. From there we can confirm whether the micro-entities regime appears to be available to your company, explain what the FRS 105 format will mean in practice, and set out clear, transparent pricing for the work involved. Whether you are preparing accounts for the first time, moving away from a different reporting framework, or simply want a second pair of eyes on what you currently file, we are happy to review your circumstances and answer your questions before you commit to anything.

─── 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 sets out a simplified format for the balance sheet and profit and loss account, generally keeps assets at historical cost, and requires only a limited set of notes. It is the framework behind FRS 105 Micro Entity Accounts, and it is intentionally proportionate — the accounts of a small, uncomplicated business should not need to be as detailed as those of a larger company.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under UK company law and choose to apply the micro-entities regime. A company first has to meet the relevant size conditions and also check that none of the exclusions apply. Qualifying for the regime and choosing to use it are two separate steps — a company that qualifies is not obliged to adopt FRS 105, and some directors decide a different reporting basis suits their lenders, investors or group structure better.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an optional regime, not a mandatory one. A company that qualifies can choose to apply it and prepare FRS 105 Micro Entity Accounts, or it can report under a different UK accounting standard such as FRS 102, including the small entities provisions. The decision often comes down to who will read the accounts and how much disclosure they expect to see.

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 the 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 conditions are subject to the relevant rules and exclusions, so meeting two of the three does not automatically mean a company qualifies for the micro-entities regime. Eligibility should be confirmed against your company's own circumstances and the legislation in force for the period.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK accounting standard used by many small and medium-sized companies. It permits more accounting options — such as revaluation, fair value measurement and deferred tax — but it also requires considerably more disclosure. FRS 105 is far narrower: it works on a historical cost basis with a heavily reduced note set, which makes the accounts shorter and cheaper to prepare but also less informative to anyone reading them. Neither is inherently better; the right choice depends on the company, its stakeholders and its plans.

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

Micro-entity accounts form part of a company's annual accounts, and where a company's accounts are within scope for filing, they are delivered to Companies House as the company's statutory accounts. Micro-entity accounts prepared under FRS 105 can be filed under the small and micro-entity filing provisions. Because filing rules do change from time to time, it is worth checking the current Companies House guidance, or speaking to us, before you submit anything.

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

Yes, they are separate filings with separate purposes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and delivered to Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, supported by a tax computation that starts from the figures in the accounts but adjusts them for tax rules. The accounts help inform the tax return, but filing one does not satisfy the obligations of the other.

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

In most cases we need a full trial balance or bookkeeping export for the period, bank statements and reconciliations, sales and purchase records, payroll summaries, details of fixed assets and any depreciation, stock or work-in-progress valuations, a breakdown of debtors and creditors, director's loan account movements, share capital information, and the prior year accounts for comparison. If you also want the Corporation Tax position reviewed, details of capital allowances and any disallowable expenses are useful too. If records are incomplete, we can discuss how to bring them up to date first.

Can a new limited company use FRS 105?

A newly incorporated company is not prevented from using FRS 105 simply because it has no trading history, but it still has to satisfy the micro-entity size conditions in the relevant period and clear any applicable exclusions. A first set of accounts may involve short or non-existent comparatives, so the disclosure and presentation need to be adapted carefully. It is worth confirming the position for your specific company rather than assuming the regime applies.