─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bude

If your company is based in Bude and may qualify as a micro-entity, FRS 105 Micro Entity Accounts could be the most straightforward way to prepare and file 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, and it allows accounts to be prepared on a simplified basis that is far less onerous than fuller reporting standards. Professional preparation of FRS 105 Micro Entity Accounts involves taking your bookkeeping records, bank information, invoices, expenses and any relevant asset or liability details, and turning them into a set of financial statements that reflect your company’s circumstances and the reporting requirements that apply to it. Because eligibility depends on more than turnover alone — and because other rules and exclusions can affect whether the micro-entities regime is available — the starting point is always a proper review of your company’s position rather than an assumption that FRS 105 automatically applies. For a Bude-based director or business owner, that means clear guidance on whether the regime is suitable, what the accounts will look like, and how the accounting side of your year-end fits alongside your other company obligations.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for, and choose to apply, the micro-entities regime. In plain terms, it is a simplified accounting framework: instead of the more detailed measurement and disclosure requirements found in larger-company reporting, FRS 105 allows qualifying micro-entities to prepare financial statements on a more straightforward basis. The standard sits within the wider UK financial reporting landscape, which also includes FRS 102 for larger or more complex companies, so the framework you use depends on your company’s size and circumstances. Importantly, the micro-entities regime is an available option rather than something imposed on every small company — a qualifying company can choose to apply it, and FRS 105 is the standard that applies when that choice is made. A typical set of FRS 105 financial statements includes a simple balance sheet, a profit and loss account prepared on the permitted basis, and limited notes, which is why the framework is often attractive to owner-managed companies that want tidy, proportionate reporting without unnecessary complexity. What matters most is that the accounts genuinely reflect your company’s transactions and position for the period, which is where careful preparation and a proper review of your records come in.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for UK companies that qualify for the micro-entities regime and decide 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. Those figures give a useful starting point, but they are not the whole test. Other eligibility rules and exclusions can apply, and certain companies may be prevented from using the regime regardless of size. Sole traders and general partnerships, for instance, are not companies and so sit outside this framework altogether, while limited companies need to look at both the size conditions and whether any exclusion applies to them. For a Bude-based limited company, the practical answer is that FRS 105 may well be available — but it should be confirmed against your actual figures, your company’s structure and its activities before the accounts are prepared on that basis. Choosing the micro-entities regime is a decision, not an automatic outcome, and it makes sense to understand what it means for the way your results are presented before you commit to it.

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 company’s underlying financial records — sales invoices, purchase receipts, bank statements, payroll information, asset purchases, loans and director balances — and building a set of financial statements that presents the position fairly under the framework. That process typically covers agreeing the figures in your records, checking that income and costs fall into the correct period, considering how items such as fixed assets and stock should be treated, and drafting the balance sheet, profit and loss account and supporting notes in the form FRS 105 permits. It is also worth being clear about what sits where: preparing the financial statements and filing the accounts with Companies House is a separate exercise from your Corporation Tax obligations, which are dealt with through a Company Tax Return (CT600) submitted to HMRC, and separate again from your Confirmation Statement and other company filings. Good accounting support helps you keep those strands distinct and consistent, so the figures reported for accounts purposes and the figures used for tax purposes can be reconciled sensibly. No one can promise that a filing will be accepted or that a particular tax outcome will follow, but a careful, methodical preparation process gives you a much clearer picture of your company’s year and a set of FRS 105 Micro Entity Accounts that you can be confident in discussing with anyone who needs to see them.

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Get Help With Your FRS 105 Micro Entity Accounts in Bude

If you would like support with your FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your company. Tell us about your trading activity, your bookkeeping records, your year-end date and any changes during the period, and we can look at whether the micro-entities regime is likely to be available to you and what preparing your accounts would involve. It also helps to mention anything that might affect the picture — new asset purchases, director’s loans, changes in what the company does, or any other filing requirements you are juggling alongside your accounts. We will explain the information we need, the options available to you, and how the work fits around your other obligations, using clear, transparent pricing so there are no surprises. Get in touch with your details and we will help you work out the right way forward for your FRS 105 Micro Entity Accounts.

─── 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 a simplified framework, allowing qualifying companies to prepare financial statements with far less detail than standards designed for larger businesses. If your company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the standard you would use to prepare your annual accounts.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size criteria, but those criteria are only part of the picture — certain company types, activities and other rules or exclusions can affect whether the regime is available. Meeting the size thresholds does not automatically mean the regime applies, so the position should be checked for your specific company rather than assumed.

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 subject to the relevant rules and exclusions, so a company that meets two of the three conditions may still need to consider other eligibility factors before deciding whether the micro-entities regime is available to it.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than a mandatory one. A company that qualifies may choose to apply FRS 105, but it can also prepare its accounts under a different UK financial reporting standard if that is more suitable for its circumstances — for example, where the business wants to present more detail, follows particular accounting policies, or has needs that simplified reporting does not serve well.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the simplified framework for qualifying micro-entities, with limited measurement and disclosure requirements. FRS 102 is a fuller framework used by a much wider range of companies and generally involves more detailed accounting treatments and disclosures. The framework you use depends on your company's size, eligibility and the choice made about which regime to apply.

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

Yes — a company that prepares FRS 105 Micro Entity Accounts as its annual accounts still has to file accounts with Companies House, using the filing requirements that apply to it. Micro-entity accounts can often be filed in a simplified format, but the accounts remain a separate filing from your Company Tax Return (CT600) submitted to HMRC and from your Confirmation Statement. Each has its own purpose and should be dealt with in its own right.

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

Yes, they are two distinct things. FRS 105 accounts are the financial statements prepared under the micro-entities reporting framework, while a CT600 is the Company Tax Return submitted to HMRC to report your company's taxable profits and calculate the corporation tax due. The figures overlap because both are based on your company's results, but the accounts and the tax return are prepared and filed separately.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it — a short trading history does not necessarily rule the framework out. In practice, first-year accounts often need a little extra care, for example around pre-trading costs, share capital, director's loans and any assets bought at the start. It is worth reviewing the position with your accountant before assuming the regime applies.