─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Broadstone

FRS 105 Micro Entity Accounts are the financial statements produced under the micro-entities regime — a simplified UK accounting framework available to companies that both qualify for it and choose to apply it. For a small company in Broadstone, FRS 105 can mean shorter, more straightforward accounts, but the framework still has to be applied correctly to your own figures, your own transactions and your own circumstances. Professional preparation starts with a review of your records, your company structure and your reporting obligations, then builds the financial statements around the FRS 105 requirements that actually apply to you. Eligibility is not automatic for every small company, so it is worth checking carefully before assuming the micro-entities regime is the right route. If you would like to understand whether FRS 105 Micro Entity Accounts suit your company, we can talk through your position and explain the options clearly.

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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 financial reporting standard that sits behind the UK’s micro-entities regime. In simple terms, it is a set of accounting rules written for the smallest companies, allowing them to prepare simpler financial statements than would be needed under a fuller framework. If your company qualifies for the micro-entities regime and you decide to use it, then FRS 105 is the standard your accounts are prepared under. That usually means a more concise balance sheet, a simplified profit and loss account and far fewer disclosure notes than you would see under other standards. Importantly, the micro-entities regime is a choice rather than an obligation — a qualifying company can use it, but it does not have to, and some companies prefer a fuller reporting framework for reasons such as lenders, investors or group reporting. FRS 105 Micro Entity Accounts in Broadstone are simply the accounts of a Broadstone-based company prepared on that basis, giving directors a clear and proportionate way to report on the company’s financial position.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. The regime is built around size, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the following 3 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 during the period. Meeting those conditions is an important starting point, but it is not the whole picture. Certain companies are excluded from the micro-entities regime regardless of their size — for example, where the company is part of a group in a way that triggers an exclusion, or where its activities fall outside what the regime permits. Eligibility also depends on consistent application over time, so a company that qualified in one period may need to check again in the next. In short, FRS 105 is available to qualifying companies that opt for the micro-entities regime, and it is worth reviewing your specific position rather than assuming that being small is enough on its own. For companies in Broadstone considering FRS 105 Micro Entity Accounts, a quick eligibility review is usually the first useful step.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means working from your accounting records — bank statements, sales and purchase information, payroll details, asset purchases and any loans or directors’ transactions — and turning them into financial statements that reflect the company’s position as reported under the micro-entities regime. Because FRS 105 takes a simplified approach, some of the judgements and measurements that apply under other standards do not arise, but the accounts still need to be consistent, internally coherent and prepared in line with the standard as it applies to your company. It is also worth keeping the different filings distinct: the preparation of FRS 105 financial statements and any subsequent Companies House filing of those accounts is a separate exercise from the company’s Corporation Tax obligations, which are dealt with through a Company Tax Return (CT600) submitted to HMRC, and separate again from the Confirmation Statement. Good preparation brings these strands together without confusing them, so you know what is being filed, where and on what basis.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Broadstone

If you would like your FRS 105 Micro Entity Accounts prepared with care and explained in plain English, get in touch and tell us about your company. It helps to share a little background first — what the company does, how long it has been trading, what records you keep and how you currently produce your bookkeeping — along with any questions you have about the micro-entities regime. From there, we can assess whether FRS 105 is likely to be an appropriate framework for your circumstances and set out clearly what we need from you and how the process works. Whether you are preparing accounts for the first time, moving from a different accounting framework, or simply want a straightforward conversation about your reporting options in Broadstone, we are happy to help you take the next step.

─── 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 the accounting rules that apply when a qualifying company chooses to use the micro-entities regime, and it allows a simplified form of financial statements with a reduced set of disclosures. In practice, that means shorter accounts that still present the company's financial position and performance on a consistent basis.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not just a matter of size — there are other eligibility rules and exclusions, and some companies are excluded regardless of their figures. Because it is an optional regime, a company that qualifies can still choose to report under a fuller framework if that suits its circumstances better.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime and choosing to use it are two different things. A company that meets the size conditions may still prepare accounts under a more detailed standard, which some businesses prefer because of lender requirements, investor expectations or group reporting needs. FRS 105 applies when the micro-entities regime is the route the company has 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. These are the headline size tests, but the full rules matter — certain companies are excluded from the regime, and meeting the size conditions alone does not automatically confirm eligibility.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies, and it generally requires more detailed measurement, accounting policies and disclosure notes. FRS 105 is the simplified standard available under the micro-entities regime, with far fewer disclosures and a more straightforward presentation. Which one applies to your company depends on whether it qualifies for, and chooses, the micro-entities regime.

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

Where accounts are due to be filed, the company's financial statements — including those prepared under FRS 105 — are the accounts that get delivered to Companies House, alongside any other filings the company is required to make. The accounts also need to be approved and signed off by the directors in the usual way. Filing accounts is a separate obligation from filing a Company Tax Return with HMRC, so it is worth keeping the two clearly distinct.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime for reporting purposes. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position and computed from the same underlying records but filed with a different authority for a different purpose. Preparing one does not replace the other, and both need to be handled properly.

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

As a starting point, we would usually need your bookkeeping or accounting records, bank and credit card statements for the period, details of sales and purchases, payroll information, any asset purchases or disposals, loan balances and any transactions with directors or connected parties. Company details such as the registered name, number, period dates and any changes to share capital are also helpful. Once we see what you have, we can confirm exactly what is required for your circumstances.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it, and if none of the exclusions apply. In a first accounting period, the figures are often straightforward, but the eligibility position still needs to be checked rather than assumed. It is worth confirming the framework early, because your accounting records should be kept in a way that supports the chosen basis of reporting.

What changes are coming to micro-entity accounts filing?

Companies House has been moving towards accounts being filed using software rather than through manually entered or typed-up versions, which will affect how small and micro-entity accounts are delivered. The practical details continue to develop, so the sensible approach is to keep your records tidy, prepare the accounts properly and confirm the current filing position before each deadline. We can talk you through what this means for your company.