─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chipping Campden

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for UK companies that qualify for — and choose to apply — the micro-entities regime. For owner-managed businesses around Chipping Campden, that can mean shorter, simpler financial statements than those prepared under a fuller reporting standard, while still meeting the requirements that apply to a micro-entity. Whether you are trading as a small family company, a consultancy, a rural enterprise or a local retail business, the starting point is a proper review of your circumstances: eligibility depends on the size conditions and on other rules and exclusions, so qualifying is never automatic. Professional preparation of FRS 105 Micro Entity Accounts involves working from your accounting records, applying the micro-entities regime consistently, and producing financial statements that reflect your company’s position and performance for the period. It also means keeping the reporting side of things clearly separated from your other obligations, such as your Corporation Tax Return and your Confirmation Statement. If you would like help understanding whether FRS 105 is appropriate for your company, and what the accounts should look like, we can talk it through with you.

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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 Reporting Framework Behind Micro-Entity Accounts

FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. In plain terms, it is the rulebook used to prepare financial statements for companies that qualify as micro-entities and that decide to use that regime rather than a larger reporting framework. Because the regime is intended for the smallest companies, FRS 105 financial statements are typically shorter and more streamlined than accounts prepared under FRS 102, with simpler measurement and reduced disclosure requirements. It is important to understand the two separate ideas here. First, a company needs to qualify for the micro-entities regime — that is a question of size and of whether any exclusions apply. Second, the company needs to choose to apply it, because the regime is available rather than compulsory. FRS 105 applies when that choice is made; if a qualifying company prefers a fuller framework, it can generally apply FRS 102 instead. The accounts produced under FRS 105 still need to give a true and fair view of the company’s financial position in line with the standard’s requirements, and they still need to be prepared from accurate, complete bookkeeping. For directors in and around Chipping Campden, the practical benefit is a cleaner reporting process with less disclosure to compile, which keeps the focus on running the business.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and that choose to apply it. Qualifying is about more than turnover alone. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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. On top of the size conditions, there are other eligibility rules and exclusions that can take a company outside the regime — so meeting the thresholds does not automatically mean FRS 105 is available to you. Some entities are excluded regardless of how small they are, and certain companies may not be eligible to use the micro-entities regime at all. This is why the sensible approach is to look at your company’s specific situation, including its legal form, what it does and how it reports, rather than assuming that a small company will always fall within the regime. If your company is based in or around Chipping Campden and you are weighing up whether FRS 105 Micro Entity Accounts are the right fit, we can review your circumstances and explain the options clearly.

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

Preparing FRS 105 Micro Entity Accounts properly starts with good records. We work from your bookkeeping, bank transactions, invoices, expenses and any other supporting information to build a set of financial statements that reflects what actually happened in your company during the period. That means applying the micro-entities regime consistently — the right measurement basis, the right disclosures and a presentation that suits a micro-entity rather than a larger company. It also means recognising where judgement is needed, such as how particular transactions or balances should be treated under FRS 105, and discussing those points with you rather than glossing over them. Once the accounts are prepared and approved by the directors, the filing of those financial statements with Companies House is a separate step, with its own requirements and its own deadline. Your Corporation Tax position is separate again: a CT600 is a tax return submitted to HMRC, not part of the accounts themselves, although the figures in your FRS 105 accounts will normally feed into it. Keeping these threads distinct helps avoid confusion and last-minute surprises. We can prepare your FRS 105 Micro Entity Accounts, explain the figures behind them, and help you understand what needs to be filed where — without overstating what any filing can guarantee.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If your company may be eligible for the micro-entities regime, or you simply want to know whether FRS 105 Micro Entity Accounts would suit your business better than a fuller reporting framework, get in touch. Tell us a little about your company — what it does, how it is structured, roughly what size it is, and when your accounting period ends — and share the records you already have, such as bookkeeping software access, bank statements and details of any transactions that need explaining. With that information we can assess your circumstances, talk you through the options and explain what preparing FRS 105 accounts would involve for a company based in or near Chipping Campden. If you are unsure whether you qualify, that is exactly the sort of question worth asking early, well before filing deadlines start to loom. We will give you a clear view of the next steps and transparent, fixed-fee pricing options where they are available.

─── 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 how qualifying companies that choose to apply the micro-entities regime should prepare their financial statements, including the measurement rules they follow and the disclosures they include. Because it is aimed at the smallest companies, FRS 105 accounts are generally shorter and simpler than accounts prepared under FRS 102, with less note disclosure required.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and that decide to apply it. Qualification depends on meeting the applicable size conditions and on no relevant exclusion applying — for example, certain types of entity are outside the regime regardless of size. Meeting the size thresholds alone does not guarantee eligibility, so it is worth checking your specific circumstances before assuming FRS 105 is the right framework for your company.

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. Other rules and exclusions also apply, so the size conditions are the starting point rather than the whole test.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it, in which case FRS 105 applies to its financial statements. A qualifying company may instead choose a fuller framework such as FRS 102, which involves more detailed measurement and disclosure. The right choice depends on the company's circumstances and the needs of its directors and shareholders.

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: it is deliberately streamlined, with simplified measurement and reduced disclosure. FRS 102 is used by a much wider range of companies and generally requires more detailed accounting treatment and more extensive notes. Smaller companies sometimes move between the two as they grow or as their reporting needs change.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those financial statements normally need to be filed with Companies House, subject to the filing requirements that apply to the company. Filing the accounts is a separate process from submitting a Corporation Tax Return to HMRC. The accounts and the tax return are prepared on different bases and serve different purposes, even though the figures in the accounts usually inform the tax return.

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

Yes. FRS 105 accounts are financial statements prepared under the micro-entities regime, while a CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. They are separate documents with separate submission routes. The accounts do not replace the tax return, and the tax return does not replace the accounts.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. New companies may need to consider how their first accounting period is treated and whether they fall within the size conditions during that period. Because eligibility depends on the individual company's circumstances, it is sensible to confirm the position before preparing the first set of accounts.

What information is needed to prepare FRS 105 accounts?

Typically you would provide access to your bookkeeping records, bank statements, sales and purchase information, details of any assets the company owns, and information about loans, director's transactions and expenses. Anything unusual should be flagged so it can be considered properly. Complete and tidy records make the process smoother and reduce the number of queries that come back to you during preparation, particularly around the period end.