─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Caerphilly

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying companies choosing to use the UK micro-entities regime. For directors in Caerphilly running a small limited company, that often means simpler financial statements, reduced disclosure and a set of accounts that reflects how a micro-entity actually operates. FRS 105 is not a one-size-fits-all solution and it is not automatic: a company must first qualify for the micro-entities regime and then decide, with the right advice, whether applying it is appropriate for its circumstances. Professional preparation helps you work through that decision, builds the accounts from your underlying financial records, and makes sure the figures, notes and formats used are consistent with the framework you have chosen. If you are weighing up whether FRS 105 Micro Entity Accounts suit your Caerphilly company, the starting point is a straightforward review of your size, structure and reporting needs.

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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 Framework Behind Micro-Entity Accounts

FRS 105 is the UK financial reporting standard written specifically for companies that qualify as micro-entities and choose to apply the micro-entities regime. In simple terms, it is a streamlined set of accounting rules: fewer disclosure notes, simpler measurement of certain items, and financial statements focused on the essentials — a balance sheet, a profit and loss account and a small number of supporting notes. It sits alongside the UK’s wider accounting framework, so the key point to understand is that FRS 105 applies when the micro-entities regime is chosen, not simply because a company is small. Eligibility depends on meeting the relevant size conditions and on there being no rule or exclusion that prevents the company from using the regime. Because FRS 105 permits less detail than other frameworks, the trade-off is that the accounts can look less informative to lenders, investors or potential buyers. For many owner-managed companies in Caerphilly the clarity and cost-effectiveness of FRS 105 Micro Entity Accounts is a good fit, but it is worth confirming that position before the accounts are drawn up rather than afterwards.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, a company will generally need 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 are a starting point rather than the whole test. Other eligibility rules and exclusions can apply — for example, certain types of entity or companies within particular structures may not be able to use the regime — so meeting the size thresholds does not automatically guarantee eligibility. The regime is also a choice rather than a requirement, and some qualifying companies decide that a fuller framework suits them better because of what their lenders, investors or group arrangements require. For a small company in Caerphilly, the sensible approach is to check the criteria against your own circumstances and then decide whether FRS 105 Micro Entity Accounts are the right fit for the period in question.

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

Professionally prepared FRS 105 Micro Entity Accounts start with clean, well-organised financial records: sales and purchase information, bank and cash transactions, payroll details where relevant, asset purchases, loan balances and any stock or work in progress. From there, the accounts are built to reflect the company’s actual position and performance, applying the recognition and measurement rules that come with the framework you have chosen. It is important to keep the different obligations separate in your mind. Preparing the financial statements is one task; filing them with Companies House is another step with its own format and requirements; and a Corporation Tax Return (CT600) is a separate submission made to HMRC, based on the company’s taxable profits rather than the accounts alone. A Confirmation Statement is separate again. Good preparation of FRS 105 financial statements means your figures are internally consistent, your disclosures match what the regime requires, and the accounts you file line up with the information you rely on for tax and for managing the business.

ICAEW

ACCA

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

If you would like help with FRS 105 Micro Entity Accounts, the best next step is a conversation. Tell us about your company — what it does, how it is structured, when your accounting period ends, and what records you already hold — and we can talk through whether the micro-entities regime is likely to be available and sensible for your circumstances. Bring along your bookkeeping, bank statements, invoices, payroll information and any previous accounts, and we can assess where you stand and what is needed to prepare a complete set of FRS 105 financial statements. We can also explain how the accounts sit alongside your other filings, including the separate Corporation Tax Return (CT600) submitted to HMRC. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and find out how we can support your Caerphilly company.

─── 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 entities that qualify as micro-entities and choose to apply the micro-entities regime. It offers a simplified approach to preparing financial statements, with reduced disclosure requirements and simpler measurement rules compared with fuller frameworks. In practice, it produces a balance sheet, a profit and loss account and a limited set of notes, which is often enough for a very small owner-managed company but may give less information to lenders or investors than a more detailed framework would.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then decide to apply it. Qualification depends on meeting the relevant size conditions and on not being caught by any of the rules or exclusions that prevent a company from using the regime. A company that qualifies is not obliged to use it — applying the micro-entities regime is a choice, and some companies prefer a fuller framework because it gives a more detailed picture of the business.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying as a micro-entity makes the regime available, it does not force you to use it. A company that meets the size conditions can choose to apply the micro-entities regime and therefore prepare FRS 105 financial statements, or it can apply a different framework instead. The right answer usually depends on who relies on the accounts — a bank, an investor, a group parent or simply the directors themselves.

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. Meeting those size conditions is not the end of the story — other eligibility rules and exclusions can apply, so it is worth checking the position for your specific company rather than assuming that a small turnover figure is enough on its own.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard, with the lightest disclosure requirements and the most simplified measurement rules. FRS 102 is a fuller framework used by larger small companies and others, and it generally requires more disclosures, more fair value and deferred tax work, and more detailed accounting policies. Choosing between them affects how much detail appears in your accounts and how much work sits behind them.

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

Where a company prepares FRS 105 financial statements, those accounts will normally need to be filed with Companies House in line with the filing requirements that apply to the company. Preparing the accounts and filing them are separate steps, and the format used for filing can differ from the format you keep internally. Filing the accounts with Companies House is also separate from dealing with HMRC — your Corporation Tax Return (CT600) is a distinct submission based on your taxable profits, not a replacement for the accounts.

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

Yes, they are separate things serving different purposes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. The CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and work out the tax due, and it is based on the accounting figures with the appropriate tax adjustments. A Confirmation Statement is separate again, and it is not a set of accounts.

What information is needed to prepare FRS 105 accounts?

We typically need a complete record of your income and expenditure for the period, bank and cash statements, purchase invoices and receipts, sales records, payroll information if you employ anyone, details of any assets bought or sold, loan and hire purchase balances, and stock or work in progress figures where relevant. Previous years' accounts and any relevant company details are also useful. If your bookkeeping is not up to date, that is something we can work through with you before the accounts are prepared.