─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cheltenham: Simplified Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts in Cheltenham are prepared under the UK micro-entities regime, which is an available accounting framework for qualifying companies that choose to apply it. FRS 105 provides the financial reporting framework for those micro-entities, with simplified recognition, measurement and disclosure requirements compared with larger reporting frameworks. Professional preparation can help ensure the accounts are put together appropriately for your company’s circumstances, based on its financial records and the applicable reporting requirements. It can also help distinguish the accounts preparation and Companies House filing process from separate Corporation Tax obligations. Eligibility is not automatic, so the size conditions and any relevant exclusions should be considered before deciding whether the micro-entities regime is suitable.

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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 Micro Entity Accounts Explained for Cheltenham Companies

FRS 105 Micro Entity Accounts are a simplified way of preparing annual financial statements for companies that qualify for the UK micro-entities regime and choose to use it. In simple terms, FRS 105 is the financial reporting standard that applies when a qualifying micro-entity opts into that regime. It is designed to reduce complexity, with simpler accounting treatments and fewer disclosures than frameworks such as FRS 102. A company does not automatically use FRS 105 just because it is small; it must meet the relevant eligibility conditions and choose the micro-entities regime. Once that choice is made, FRS 105 applies to the financial statements. These accounts are separate from a Corporation Tax Return (CT600), which is submitted to HMRC, and from a Confirmation Statement filed with Companies House.

Who Can Use FRS 105 in the UK? FRS 105 Micro Entity Accounts for Cheltenham Companies

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 generally needs to meet at least 2 of the 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 conditions are subject to the relevant rules and exclusions, and other eligibility requirements may also apply. Meeting the size thresholds alone does not guarantee eligibility. The micro-entities regime is an available accounting regime, and FRS 105 Micro Entity Accounts apply when a qualifying company chooses to use it. Cheltenham companies considering FRS 105 should review their circumstances carefully before deciding whether the regime is suitable.

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 in Cheltenham

Professionally prepared FRS 105 Micro Entity Accounts in Cheltenham can be based on your company’s financial records and the applicable reporting requirements. This typically involves preparing the financial statements, applying the relevant recognition and disclosure requirements for the micro-entities regime, and supporting the Companies House filing process where required. Corporation Tax obligations are separate and are usually dealt with through a CT600 submitted to HMRC, using the accounts and other information as a starting point. It is important to keep the accounts filing and tax filing requirements distinct. Professional support can help organise the information, identify what is needed and prepare accounts in line with the chosen framework, but it does not guarantee a particular filing outcome or regulatory approval.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Cheltenham

If you need help with FRS 105 Micro Entity Accounts in Cheltenham, speak to us about your requirements. We can discuss whether your company may qualify for the micro-entities regime, what information is needed, and how to approach preparation and filing. It helps to have details of your company, the accounting period, your financial records and any upcoming filing obligations you are working towards. We can then assess your circumstances and explain the next steps, with clear and practical support. There is no obligation to proceed, and we will not promise a specific outcome before we understand your position.

─── 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 simplified accounting and disclosure requirements for companies that qualify for the micro-entities regime and choose to apply it. FRS 105 Micro Entity Accounts are therefore a specific type of annual financial statements, not a tax return. They are prepared for accounting and Companies House filing purposes, while Corporation Tax is handled separately through a CT600 submitted to HMRC.

Who can use FRS 105?

FRS 105 is intended 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. Other eligibility rules and exclusions can apply, so meeting the size conditions alone does not always guarantee eligibility. The regime is a choice, and FRS 105 applies when that choice is made.

Is FRS 105 compulsory for every micro-entity?

No. A company that qualifies as a micro-entity may be able to choose the micro-entities regime, but it is not forced to do so. If the regime is chosen, FRS 105 applies to the financial statements. Some qualifying companies may prefer or need a different framework, such as FRS 102, depending on their circumstances, reporting needs or any relevant restrictions. The decision should be based on eligibility and suitability.

What is the difference between FRS 105 and FRS 102?

FRS 105 is a simplified framework designed for micro-entities, with fewer disclosures and simpler accounting treatments. FRS 102 is a broader UK financial reporting standard used by many small and medium-sized companies, and it generally includes more detailed recognition, measurement and disclosure requirements. A company that qualifies for the micro-entities regime may choose FRS 105, but if it does not qualify, does not choose the regime, or needs more detailed reporting, FRS 102 or another applicable framework may be more appropriate.

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

Yes, in most cases a company that prepares FRS 105 Micro Entity Accounts will need to file annual accounts with Companies House. The accounts must be prepared and filed in line with the applicable statutory requirements and permitted formats. Filing accounts with Companies House is separate from submitting a Corporation Tax Return (CT600) to HMRC and separate from filing a Confirmation Statement. The exact filing requirements can depend on the company’s circumstances.

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

Yes. FRS 105 accounts are financial statements prepared under the micro-entities regime and are used for accounting and Companies House filing purposes. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits and calculate the corporation tax due. The accounts often provide a starting point for the tax return, but tax adjustments, allowances and other HMRC requirements are handled separately.

Can a new limited company use FRS 105?

A new limited company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. The first accounting period can have its own considerations, and eligibility still depends on the relevant size conditions and any exclusions. Not every new company will qualify, so it is worth reviewing the position before preparing the first set of accounts.

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

To prepare FRS 105 Micro Entity Accounts, we typically need your company’s financial records for the accounting period. This can include bank statements, sales invoices, purchase receipts, payroll information, asset purchases, loan details, stock or work-in-progress records, and details of directors or shareholders. Previous accounts can also be helpful if available. The exact information depends on the company’s activities, but good records help ensure the accounts are prepared accurately and efficiently.