─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Corby

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplified UK reporting framework available to companies that qualify as micro-entities and choose to apply it. For directors in Corby running a small limited company, that choice can mean simpler financial statements and reduced disclosure compared with other reporting frameworks, but the framework still has to be applied correctly and consistently with the company’s records and circumstances. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are pulled together properly from your bookkeeping, that the presentation reflects the micro-entities regime rather than a generic template, and that the accounts are ready to support your wider company filing obligations. Eligibility is not automatic — it depends on your company meeting the relevant size conditions and not being caught by any of the rules or exclusions that apply to the regime, so it is worth reviewing each accounting period.

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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 for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for the micro-entities regime. In plain terms, it sets out how a qualifying micro-entity prepares its annual financial statements — what is included, how items are measured, and what needs to be disclosed. It sits alongside the broader small company frameworks rather than replacing them: a company that qualifies for the micro-entities regime can choose to apply that regime, and where that choice is made, FRS 105 is the standard used to prepare the accounts. The result is usually a shorter, more straightforward set of financial statements with fewer disclosure requirements than you would see under FRS 102. It is not a tax return and it does not determine your Corporation Tax position on its own — it is the accounting framework behind your statutory accounts. Directors in Corby often find it helpful to have the choice explained in practical terms before deciding which framework suits their company best.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for UK companies that qualify for the 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. Beneath those headline tests sit further rules and exclusions — certain categories of company cannot use the micro-entities regime at all, and some entities that look small on the numbers are still outside it. That is why qualifying involves more than a quick comparison with the thresholds. If your company is based in Corby and you are weighing up FRS 105 Micro Entity Accounts, the sensible approach is to review your eligibility and your reporting options together before committing to a framework for the period.

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 properly starts with your underlying records — bookkeeping, bank transactions, sales and purchase documentation, payroll information, asset purchases and any loans or director balances. From there, the accounts are built up under the micro-entities regime, with the figures reviewed for consistency and the presentation tailored to a micro-entity set of financial statements rather than a full-format layout. It is important to keep the different obligations separate: the financial statements are the accounts prepared under FRS 105 and filed at Companies House as part of your annual accounts, while your Corporation Tax Return (CT600) is a separate submission made to HMRC, and your Confirmation Statement is a further, distinct filing. Good preparation means each of those is dealt with on its own terms, using the same underlying records, so the information you rely on is coherent and complete.

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Talk to Us About Your FRS 105 Micro Entity Accounts in Corby

If you would like help with FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your company. Tell us about your trade or activity, how your accounting period is shaping up, what records you already keep, and whether you have filed under the micro-entities regime before. We can then review your circumstances — including whether the micro-entity size conditions and the other eligibility rules appear to be met — and explain what information we would need from you to prepare the financial statements. Whether you are a newly incorporated company in Corby or an established one considering a change of framework, we will talk you through the options in plain English, outline how our services are structured and set out clear, transparent pricing before any work begins.

─── 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 the micro-entities regime. It sets out how a qualifying micro-entity prepares its annual financial statements, including the measurement basis used for items in the accounts and the disclosures that are required. It is a simplified framework compared with FRS 102, which is intended to reduce the reporting burden on the smallest companies while still producing financial statements that give a true and fair view of the company's position.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not simply a matter of being small in everyday terms: the company has to meet the relevant size conditions set out in the regulations, and certain types of company are excluded from the regime regardless of size. The choice also needs to be appropriate for the company and applied consistently. Because eligibility depends on the rules in force for the accounting period in question, it is worth checking your position before assuming the regime is available.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a mandatory one. A company that meets the size conditions can choose to apply the micro-entities regime and prepare FRS 105 accounts, or it can use another framework that it is eligible for, such as FRS 102. The choice is usually made with reference to the company's circumstances, the level of disclosure that suits its stakeholders, and any lender or investor expectations. Once chosen, the framework should be applied properly and consistently.

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 the 3 applicable size conditions, subject to the relevant rules and exclusions: 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. Earlier accounting periods are assessed against the thresholds in force at that time. Meeting the size tests is not by itself a guarantee of eligibility, so the other conditions and exclusions should always be considered.

What is the difference between FRS 105 and FRS 102?

FRS 105 is a dedicated framework for the micro-entities regime, so it is narrower in scope and generally simpler in both measurement and disclosure. FRS 102 is a broader standard used by small and other entities, and it offers more accounting policy options and requires more extensive notes. In practice, the difference shows up in the length and complexity of the financial statements, and in how certain items are treated. Neither framework is inherently better — the right one is the framework the company is eligible for and has chosen to apply.

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

Yes. The FRS 105 financial statements form the company's annual accounts, and those accounts are filed at Companies House. This is separate from your Corporation Tax Return (CT600), which goes to HMRC, and from your Confirmation Statement, which is a distinct filing confirming that the information held about the company is up to date. Companies House has also been phasing in changes to how small and micro-entity accounts can be submitted, so it is worth checking the current filing guidance before you submit.

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

Yes, they are two different things with different purposes and different recipients. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed as the company's annual accounts. The CT600 is the Corporation Tax Return submitted to HMRC to report the company's tax position. The accounts usually provide the starting point for the tax computation, but adjustments and allowances are dealt with in the return itself, and the two are governed by separate rules and processes.

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

As a starting point, we would usually ask for complete bookkeeping or accounting records, bank statements covering the accounting period, details of sales and purchases with supporting invoices, payroll information if the company employs people, records of asset purchases and disposals, details of any loans or director balances, stock or work-in-progress figures where relevant, and the previous year's accounts if there are any. It also helps to know your accounting period dates, your principal activity and whether anything unusual happened during the year that should be reflected in the financial statements.