─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Budleigh Salterton

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. In Budleigh Salterton, many small limited companies want accounts that are straightforward, accurate and proportionate to the size of their business — and FRS 105 is designed to deliver exactly that, with simpler measurement rules and reduced disclosure compared with other frameworks. Professional preparation helps ensure your FRS 105 accounts reflect your actual financial records, are consistent with the micro-entities regime being applied, and are presented in a form that suits your company’s circumstances. It also helps you keep the accounts themselves clearly separated from your other obligations, such as filing with Companies House and preparing a separate Corporation Tax Return. Whether you are trading quietly as a single-director company or running a small local operation, we can talk through how FRS 105 Micro Entity Accounts work in practice and what is needed to prepare them properly.

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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 the micro-entities regime. Put simply, it is the rulebook a qualifying company uses when it prepares micro-entity accounts — the set of measurement and disclosure requirements applied to its financial statements. If a company is eligible for the micro-entities regime and chooses to apply it, FRS 105 is the standard that governs how its accounts are put together. Because the regime is aimed at the smallest companies, FRS 105 keeps things deliberately simple: there is far less disclosure to prepare than under other frameworks, and the accounting treatments are restricted to the more straightforward options, which means fewer judgements and less complexity for the people running the business. That does not mean the accounts are informal. They still need to be prepared properly from reliable records, they still result in a balance sheet and notes where required, and they still need to be consistent from one year to the next. For directors in Budleigh Salterton, understanding FRS 105 matters because it shapes what you report, how much work is involved in getting there, and how the numbers you file compare with those used for tax. It is one part of your overall company reporting picture, alongside your Companies House filing and your separate Corporation Tax Return.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies in the UK that qualify for the micro-entities regime and choose to apply it — so eligibility and choice both matter. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least two of three 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 give a useful starting point, but they are not the entire test. Other eligibility rules and exclusions apply, and qualifying is assessed by reference to the accounting period in question, which means a company’s position can change as it grows, restructures or takes on additional activity. It is also worth remembering that the micro-entities regime sits alongside other frameworks — a company that qualifies is not obliged to use it, and a company that sits just outside the criteria may need to prepare accounts under a different standard such as FRS 102. Directors of small companies around Budleigh Salterton often assume that being small means micro-entity accounts apply automatically, but the position is more nuanced than that, particularly where there are group relationships or unusual transactions. If you are unsure where your company stands, it is worth reviewing your size profile and circumstances before the accounts preparation process begins.

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 and Accurate Financial Reporting

Good FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank transactions, invoices, expenses and other supporting information to build a set of financial statements that reflects what your company has actually done during the period, applying the measurement and disclosure requirements of FRS 105 as they apply to your circumstances. In practice, that means preparing the balance sheet and any required notes, checking that the figures reconcile, reviewing the numbers for obvious errors or omissions, and making sure the accounts are internally consistent and prepared on a basis appropriate to a micro-entity. The accounts then need to be filed with Companies House within the applicable filing window, and that filing is a separate exercise from your Corporation Tax obligations. Your company’s tax position is dealt with through a Corporation Tax Return (CT600) submitted to HMRC, which uses the accounting information but is not the same document as your FRS 105 accounts. Keeping those two processes clearly separated helps avoid confusion, missed deadlines and unnecessary correspondence. If anything in your records is unclear, or if a transaction needs to be treated in a particular way, we will raise it with you rather than guess — the aim is financial statements that are accurate, understandable and appropriate to your company.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If your company may qualify for the micro-entities regime and you would like help preparing FRS 105 Micro Entity Accounts, we would be glad to hear from you. Tell us a little about your company — what it does, when it was formed, how it has traded so far and how your records are currently kept — and we can explain what is involved, what information we would need from you and how the process typically works from start to finish. We can also help you understand the difference between preparing and filing your accounts and dealing with your separate Corporation Tax responsibilities, so nothing gets overlooked. Where a different reporting framework may be more suitable for your circumstances, we will say so. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and the next practical steps.

─── 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 set of measurement and disclosure requirements, so accounts prepared under it contain far fewer notes and fewer accounting options than those prepared under other frameworks. If a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the standard used to prepare its financial statements.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying normally depends on meeting at least two of three size conditions for the accounting period, along with other eligibility rules and exclusions. Because those rules can be detailed, it is worth checking your specific position rather than assuming that being a small company means you automatically qualify.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies can choose to apply it, in which case FRS 105 is used, or it may instead prepare accounts under another framework such as FRS 102. In practice, some companies prefer the fuller disclosure and wider accounting options of a different framework, particularly where there are bank covenants, group reporting requirements or more complicated transactions.

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 two of three 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 test. Other rules and exclusions can affect whether the micro-entities regime is available, so eligibility should be considered in the round for each accounting period.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK standard used by small and larger entities, and it allows a wider range of accounting treatments and requires more disclosure. FRS 105 is far more restrictive by design: it strips out many of the more complex options and reduces the notes that have to be prepared. The practical effect is that FRS 105 accounts are simpler and quicker to produce, while FRS 102 accounts give a fuller picture and more flexibility where a company's circumstances call for it.

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

Yes — if your company is preparing accounts under the micro-entities regime, those accounts form the basis of the annual accounts filing at Companies House, subject to what a micro-entity is permitted or required to include in the filed version. Filing the accounts is a company obligation in its own right, separate from anything submitted to HMRC. Directors remain responsible for making sure the filing is made and that the information filed is correct.

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

Yes, they are two distinct deliverables. FRS 105 accounts are the financial statements prepared under the micro-entities accounting framework and filed at Companies House. A CT600 is the Corporation Tax Return submitted separately to HMRC, which will generally draw on the figures in your accounts but includes its own calculations, adjustments and declarations. Preparing one does not automatically discharge the other, which is why many companies deal with both as part of the same annual cycle.

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

Useful information typically includes your bookkeeping records or accounting software access, bank and credit card statements for the period, sales invoices and receipts, purchase invoices and expense records, details of any assets bought or sold, loan or director's loan movements, VAT records if you are registered, payroll information if you employ anyone, and the previous year's accounts where they exist. If your records are incomplete, it is still worth having a conversation — we can tell you what is missing and how it can be pulled together before the accounts are prepared.