─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Conwy

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your statutory financial statements. FRS 105 is the simplest of the UK accounting standards, designed specifically for qualifying micro-entities, and it comes with its own disclosure requirements, formatting rules and measurement simplifications. Preparing accounts under FRS 105 is not simply a case of filling in a template — the figures need to reflect your company’s actual transactions, the disclosures must be appropriate to your circumstances, and the balance sheet, profit and loss account and any notes should be consistent with the underlying records. At Micro Entity Accounts, we help companies across Conwy work through whether the micro-entities regime looks suitable for them, then prepare FRS 105 Micro Entity Accounts that are clear, well-organised and ready for the relevant filing and record-keeping purposes. Because eligibility is not automatic, we look at your turnover, balance sheet total and employee numbers, along with any other applicable rules or exclusions, before recommending an approach.

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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 Accounting Standard

FRS 105 is the UK financial reporting standard for micro-entities. It sits within the UK’s suite of accounting standards and is written for the very smallest companies — those that meet the micro-entity size tests and decide to use the micro-entities regime. In plain terms, FRS 105 keeps things straightforward: it limits what has to be included in the accounts, simplifies how certain items are measured, and avoids much of the complexity found in fuller standards such as FRS 102. The important point is that the micro-entities regime is an available accounting regime, not something that applies to everyone. A company has to qualify, and then it has to choose to apply the regime; where that choice is made, FRS 105 is the standard the accounts are prepared under. For anyone looking at FRS 105 Micro Entity Accounts in Conwy, the practical outcome is a set of financial statements showing a balance sheet, a profit and loss account and a small number of supporting notes, presented in line with the requirements of the standard.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and actively choose to apply it. It is not the default for every small company, and it is not open to businesses that fall outside the regime. 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. Meeting those conditions is a starting point rather than the whole picture, because other rules and exclusions can affect whether the micro-entities regime is available to a particular company — for example, certain company types or circumstances may be treated differently. This is why we look at your specific situation before confirming whether FRS 105 Micro Entity Accounts in Conwy are the right route for your company, and why we make sure you understand the alternative frameworks if they are not.

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

Well-prepared FRS 105 Micro Entity Accounts start with tidy, complete financial records. We work from your bookkeeping, bank information, sales and purchase records and any other relevant documents to build a set of financial statements that reflects what your company has actually done during the period. That means a balance sheet showing your assets and liabilities, a profit and loss account showing income and expenses, and the notes required under FRS 105 — all prepared on the basis of the information you provide and the reporting requirements that apply to your company. Where relevant, we also help you keep the different obligations separate and clear: the preparation of FRS 105 financial statements is a reporting exercise, Companies House filing of those accounts is a separate statutory step, and a Corporation Tax Return (CT600) is a further, distinct submission made to HMRC for corporation tax purposes. We do not claim that any filing is guaranteed, nor that Companies House or HMRC reviews or endorses accounts. What we can do is prepare accurate FRS 105 Micro Entity Accounts for your Conwy-based company and explain, in straightforward terms, which of your filings are which.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

Whether you are preparing your first set of accounts, moving over from a different accounting standard, or simply want your FRS 105 Micro Entity Accounts put together properly, the next step is a conversation. Tell us about your company — what it does, how it is structured, when your accounting period runs, roughly what your turnover, balance sheet total and employee numbers look like, and what records you already have available. That information lets us assess your circumstances, explain the options in plain English and set out what we would need from you to prepare your accounts. We can also clarify how FRS 105 accounts differ from your Corporation Tax Return and other company filings, so you know exactly what is being submitted, where and why. Get in touch with Micro Entity Accounts and let’s talk through your FRS 105 Micro Entity Accounts requirements in Conwy.

─── 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 micro-entities — the smallest category of company recognised under UK accounting rules. It is the least complex of the UK accounting standards, with reduced disclosure requirements and simplified measurement rules. When a company qualifies for, and chooses to apply, the micro-entities regime, its statutory financial statements are prepared under FRS 105.

Who can use FRS 105?

FRS 105 is available to companies that fall within the UK micro-entities regime and decide to use it. Qualification is based on size conditions, and other eligibility rules and exclusions can also apply depending on the company's circumstances and legal form. Meeting the size tests alone does not automatically mean a company must, or can, use FRS 105 — it is a regime the company qualifies for and then chooses to apply.

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. These conditions are subject to the relevant rules, restrictions and exclusions, so you should check your own position rather than assuming you qualify.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies can choose to apply it, and where that choice is made the accounts are prepared under FRS 105. Some qualifying companies choose a fuller accounting framework instead, often for reasons connected with lenders, investors, group relationships or the level of detail they want in their financial statements.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller UK accounting standard that applies to a much wider range of companies, including small and medium-sized entities. FRS 105, by contrast, is reserved for micro-entities and is deliberately simpler — with fewer disclosures, different measurement options and a more condensed set of financial statements. Choosing between them usually comes down to eligibility plus what the company, and anyone reading the accounts, needs to see.

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

For a limited company, statutory accounts for the financial year generally need to be filed with Companies House, and where FRS 105 applies those are the accounts that are delivered. The filing itself is a separate step from preparing the accounts, and separate again from any tax filing. This is different from a Confirmation Statement, which confirms company details rather than reporting financial results.

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

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare your company's financial statements. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with tax. The figures in your FRS 105 accounts often inform the tax return, but they are distinct documents with different purposes, different recipients and different requirements.

What information is needed to prepare FRS 105 accounts?

In most cases we will need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, details of any assets and liabilities, loan or lease agreements, previous year's accounts if available, and confirmation of your company details and accounting period dates. The cleaner and more complete your records, the more efficiently your FRS 105 Micro Entity Accounts can be prepared.