─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chippenham

If your company is based in Chippenham and may qualify for the UK micro-entities regime, FRS 105 Micro Entity Accounts give you a streamlined way to prepare and report your financial statements. FRS 105 is the financial reporting framework that applies when a qualifying micro-entity chooses to use the micro-entities regime — it is a choice available to eligible companies, not something that applies automatically to every small company. Professional preparation of FRS 105 Micro Entity Accounts starts with your bookkeeping and financial records and works through to a set of financial statements prepared for your company’s individual circumstances. That includes considering your accounting period dates, your size for the relevant period, any transactions that need particular care, and how the figures should be presented under the regime you have chosen. Because micro-entity reporting is deliberately simplified, it is easy to assume the process is purely administrative, but the disclosures, accounting policies and presentation still need to reflect the framework correctly. Working with an adviser who deals with FRS 105 Micro Entity Accounts regularly helps you understand what information is needed, what the resulting statements will look like, and how the accounts sit alongside your other filing obligations, such as your Corporation Tax Return and your Confirmation Statement.

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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 micro-entities. In plain terms, it tells you how a very small company’s financial statements should be put together — what goes on the balance sheet, what goes on the profit and loss account, and what notes (if any) are needed. It sits underneath the UK’s micro-entities regime, which is a set of legal rules that qualifying companies can choose to apply instead of the fuller reporting requirements that larger companies follow. The important point is that the regime is optional and conditional. A company has to fall within the definition of a micro-entity for the relevant period, and if it does, it can decide to prepare its accounts under the micro-entities regime. When that choice is made, FRS 105 Micro Entity Accounts are what you prepare. FRS 105 is intentionally simpler than other frameworks: there is less emphasis on fair value, fewer disclosure requirements, and a more straightforward approach to measuring assets and liabilities. That simplicity can be a real benefit for owner-managed companies in Chippenham, but it also means the accounts still have to be prepared accurately from complete records. FRS 105 accounts are financial statements for Companies House and for the company’s own records — they are not the same thing as a Corporation Tax Return (CT600), which is a separate filing made to HMRC.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the UK micro-entities regime and that decide to apply it. Qualification starts with the size tests. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 3 applicable 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 two of those three conditions is a significant part of the picture, but it is not the whole test. Other eligibility rules and exclusions can apply, and some companies are prevented from using the micro-entities regime regardless of their size — for example, certain types of entity and companies that sit within particular structures. That is why the size conditions should be treated as a starting point rather than a guarantee. If your company is based in Chippenham and you are weighing up whether FRS 105 Micro Entity Accounts are appropriate, we can review your figures and circumstances, talk through the criteria and any exclusions that might apply, and help you decide whether the micro-entities regime is the right framework for the period. Eligibility can also change from year to year, so it is worth revisiting the question rather than assuming the previous year’s answer still holds.

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

Preparing FRS 105 Micro Entity Accounts is a matter of applying the right framework carefully to the right numbers. We work from your company’s financial records — bank and bookkeeping records, sales and purchase information, payroll data where relevant, asset and liability details, and any other supporting documents — and use those to build a set of financial statements prepared in line with FRS 105 and the applicable reporting requirements for the period. Where transactions need judgement, such as accruals, prepayments, stock or fixed assets, we discuss the treatment with you so the figures reflect what actually happened in the business. The accounts preparation process and the Companies House filing are handled as distinct steps, so you can see clearly what is being prepared, what is being submitted, and when. Corporation Tax is a separate matter entirely: your CT600 is submitted to HMRC, and the profit figure you use for tax purposes may differ from the profit shown in your FRS 105 Micro Entity Accounts because tax rules and accounting rules are not identical. We can support you with both, but it is worth understanding that they are different obligations with different audiences. Our role is to prepare your accounts properly and to explain the basis on which they have been prepared — we do not claim that accounts are accepted, approved or reviewed by Companies House or HMRC, and no adviser can guarantee that outcome.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Chippenham

Every company’s position is a little different, and the best starting point is a straightforward conversation about your circumstances. Tell us about your company, your accounting period, the records you currently keep and any changes in the business over the year, and we can talk through whether the micro-entities regime looks suitable for you and what preparing FRS 105 Micro Entity Accounts would involve. It helps to have your bookkeeping up to date, details of any significant purchases or sales, and information about loans, directors’ transactions and anything unusual that happened during the period. If you are not sure whether you qualify, or whether the micro-entities regime is the right choice for your company compared with a fuller reporting framework, we can walk through the criteria with you — including the requirement to generally meet at least 2 of the 3 applicable size conditions. Get in touch to discuss your FRS 105 Micro Entity Accounts and find out what the next step looks like for your 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 that applies to companies preparing accounts under the micro-entities regime. It sets out a simplified basis for preparing financial statements, with reduced disclosure requirements and a more straightforward measurement approach than frameworks designed for larger companies. You do not apply FRS 105 on its own — it applies when a qualifying company chooses to use the micro-entities regime for its accounts.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualifying is not simply a matter of being a small business: the company has to meet the relevant size conditions and fall outside any of the exclusions that prevent a company from using the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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 — subject to the relevant rules and exclusions. Meeting the size conditions alone does not automatically guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, and applying it is a choice. A qualifying company can decide to prepare FRS 105 Micro Entity Accounts, or it can use a fuller framework such as FRS 102 instead. There are legitimate reasons to go either way — for example, a lender, investor or group parent may prefer, or require, more detailed reporting. It is worth reviewing the decision rather than simply defaulting to it year after year.

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. On top of the size tests, there are other eligibility rules and exclusions that can affect whether a company can use the micro-entities regime. Because those rules can apply in ways that are not obvious, it is sensible to check your specific position before assuming the regime is available to you.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and offers the most simplified reporting, with fewer disclosures and a more limited measurement approach. FRS 102 is the standard used by most other companies, including small companies that do not use the micro-entities regime, and it involves more detailed recognition, measurement and disclosure requirements. If a company qualifies for the micro-entities regime, choosing between the two is a decision about how much detail the accounts should contain, not just which set of rules is easier.

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

Yes — where accounts are required to be filed, a company that has prepared FRS 105 Micro Entity Accounts will file those accounts with Companies House. The accounts and the filing are separate steps: the accounts are prepared from the company's financial records, and the filing is the act of submitting them. Filing accounts with Companies House is a different obligation from filing a Corporation Tax Return with HMRC, and both are separate from the Confirmation Statement, which deals with confirmation of company information rather than financial reporting.

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

Yes, they are entirely separate. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable position. The profit shown in your accounts and the profit used for tax purposes can differ, because tax rules and accounting rules treat some items differently. Preparing one does not automatically complete the other, so both need to be dealt with.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime if it qualifies and chooses to, but eligibility depends on the size conditions and any applicable exclusions rather than on how long the company has been trading. A company in its first period may have limited figures, which can make the size tests easier to satisfy, but other rules may still affect the position. It is worth checking eligibility for each period rather than assuming the same answer applies every year.

What changes are coming to micro-entity accounts filing?

The way small and micro-entity accounts are filed at Companies House is changing, with a move towards filing accounts in a digital, tagged format rather than as simple PDF submissions. The direction of travel is towards more structured data being submitted, which places greater emphasis on how the accounts are prepared and formatted before they are filed. Because the detail and timing of these changes can develop, it is worth checking your position for each accounting period and planning ahead so your accounts preparation process is ready.