─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Castle Donington

If your company is a qualifying micro-entity and you have chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts are the financial statements you prepare under that framework. FRS 105 sets out how those accounts should be drawn up, keeping reporting streamlined while still presenting a clear picture of your company’s position. For directors in Castle Donington running a small, straightforward business, that usually means simpler financial statements without some of the disclosures and fair value adjustments required under larger reporting frameworks. Professional preparation starts by looking at your company’s circumstances — its size, its activities, its structure and the accounting records you hold — and confirming whether the micro-entities regime is genuinely available and appropriate for the period in question. Eligibility is not automatic simply because a company is small, and there are rules and exclusions that can affect whether the regime can be used, so it is worth checking before you build your reporting around it. Working with an experienced preparer helps you keep your FRS 105 Micro Entity Accounts consistent, properly supported by your records and aligned with the framework you have chosen to apply.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

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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.

      EXCELLENT  
   Based on 302 reviews 
    
 
 
 
   
 
 
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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. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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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 for Micro-Entities in Castle Donington

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. In simple terms, the micro-entities regime is a simplified accounting option available to qualifying companies, and FRS 105 is the standard that governs the accounts when that option is chosen. A company does not have to use it — applying the micro-entities regime is a choice — but where the regime is applied, FRS 105 is the framework that shapes the financial statements. Under FRS 105, accounts tend to be shorter and more straightforward than those prepared under FRS 102, with fewer disclosures and a simpler measurement approach built around historical cost. The trade-off is that the resulting financial statements give a more basic view of the business, which is why some directors prefer a fuller framework even where the micro-entities regime is available to them. For a small company in Castle Donington, the practical questions are usually whether the company qualifies, whether the directors want to use the regime, and how the resulting figures should be presented consistently from one period to the next. Understanding that distinction early makes the whole reporting process far easier to manage.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose 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 during the period. Those conditions give a useful starting point, but they are not the complete test. Other eligibility rules and exclusions can apply, and some companies are excluded from the regime regardless of their size, so meeting the thresholds does not automatically mean FRS 105 can be used. There is also a practical distinction between qualifying and choosing: even where a company qualifies, applying the micro-entities regime remains a decision for the directors, who may prefer a fuller reporting framework for reasons of their own. For companies in Castle Donington considering FRS 105 Micro Entity Accounts, the sensible approach is to assess the company’s circumstances for the specific period, confirm whether the regime is available, and then decide whether it is the right fit 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 Castle Donington Companies

Preparing FRS 105 Micro Entity Accounts is as much about accuracy and consistency as it is about the framework itself. The starting point is your company’s financial records — bookkeeping, bank information, sales and purchase records, payroll details and any asset or liability information — from which a set of financial statements can be built that reflects the company’s circumstances for the period. Where the micro-entities regime applies, the accounts are prepared on that basis, with the presentation and disclosures that FRS 105 sets out. It is worth being clear about what sits where: the financial statements themselves are prepared under the chosen reporting framework, filing those accounts with Companies House is a separate step in the company’s annual obligations, and a Corporation Tax Return (CT600) is a different filing altogether, submitted to HMRC. Each has its own purpose and its own requirements, and the figures used in one do not automatically carry across to the other without checking. Professional preparation focuses on building the accounts from reliable records, applying the framework consistently, and explaining the basis on which the numbers have been produced so that directors understand what they are approving and filing. No preparer can guarantee a particular outcome or acceptance, but careful work at the preparation stage gives the best foundation for the filings that follow.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Castle Donington

If you would like help with FRS 105 Micro Entity Accounts for your Castle Donington company, the best next step is a straightforward conversation about your circumstances. Tell us about your company — its trading activity, its size, the period you need accounts for, and the records you currently keep — and we can consider whether the micro-entities regime is likely to be available and whether it suits how you want to report. It also helps to know what else is on your annual list, such as your Companies House filing and your Corporation Tax Return (CT600), so that everything can be considered together rather than in isolation. Bring along your bookkeeping, bank statements, previous accounts if you have them, and details of any significant transactions, and we can talk through what preparation would involve. Whether you are a new company preparing a first set of accounts or an established business reviewing how you report, we are happy to discuss your requirements and explain the options clearly, with transparent pricing and no obligation to proceed.

─── 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, built around historical cost and with far fewer disclosure requirements than larger reporting standards, and it is designed to keep financial statements proportionate for very small companies. It is not a tax regime and it does not replace any HMRC filing — it governs how the accounts themselves are prepared and presented.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option, not a requirement. A company that qualifies may choose to apply it, in which case FRS 105 applies to the accounts, or it may instead report under a fuller framework such as FRS 102. The choice is usually made with the directors' needs in mind, since applying the micro-entities regime can mean a simpler set of accounts but also a more basic view of the business.

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 to fall within the micro-entities regime: 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 the size conditions is not the whole story, however. Other eligibility rules and exclusions can apply depending on the company's structure, activities or status, so a company should not assume it qualifies on size alone.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in depth. FRS 105 is the micro-entities standard and is deliberately streamlined, with a historical cost basis and limited disclosures. FRS 102 is a broader standard used by a much wider range of companies, allowing more accounting options and requiring more extensive disclosure. Choosing between them affects how much detail appears in your financial statements and how certain items are measured, so the decision is worth making deliberately rather than by default.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

The financial statements are prepared under the chosen reporting framework and then form the basis of the annual accounts filing with Companies House, where the company is required to file. The filing itself is a separate administrative step with its own requirements about format and content, which is why it makes sense to prepare the accounts with that filing in mind from the outset. It is also worth remembering that the accounts filing and your Corporation Tax Return (CT600) are distinct obligations with different purposes and different recipients.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the accounting framework the directors have chosen and, where applicable, filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. Although both start from the same underlying records, they serve different purposes, follow different rules in places, and are submitted to different bodies.

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 the directors choose to apply it. In the first period the size conditions are generally assessed on the figures for that period, though the relevant rules and any exclusions still need to be considered. It is often worth thinking about the choice early, because the framework you apply shapes how the first set of financial statements is put together and how later periods are presented.

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

Most of what is required comes from your own records: bookkeeping or accounting software data, bank and credit card statements, sales and purchase information, payroll details, records of any assets and liabilities, and details of significant or unusual transactions in the period. Previous accounts are helpful for consistency, along with confirmation of any changes in the business during the year. The clearer and more complete the records, the more straightforward it is to prepare financial statements that properly reflect the company's position.