─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Corsham

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying companies that choose to apply the UK micro-entities regime. For a small company based in Corsham, FRS 105 can mean shorter, simpler financial statements than those prepared under a larger reporting framework, but only where the company genuinely qualifies for the regime and decides to use it. Professional preparation helps ensure the accounts reflect your actual financial records, apply the FRS 105 disclosure requirements appropriately, and are presented in a way that is consistent with your company’s circumstances and filing obligations. It also helps you keep the accounts themselves clearly separated from other requirements such as your Corporation Tax Return (CT600) and your Confirmation Statement, which are separate filings with separate purposes. If you are unsure whether FRS 105 is the right basis for your company, a review of your turnover, balance sheet total and employee numbers, along with any applicable exclusions, is a sensible starting point before the accounts are prepared.

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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 simple terms, it is the accounting framework a qualifying company uses when it chooses to apply the micro-entities regime, and it produces a set of financial statements that is deliberately streamlined compared with the frameworks used by larger businesses. Under FRS 105, the accounts are prepared on a historical cost basis with simplified measurement and reduced disclosure, which keeps the financial statements shorter and more straightforward to read and prepare. Crucially, FRS 105 is not automatic and it is not compulsory: it is one available regime, and it applies when a company both qualifies for it and elects to use it. A company that qualifies might still choose a different framework, and a company that does not qualify cannot simply adopt FRS 105 because it prefers the simpler format. For directors in Corsham running a small limited company, the practical question is usually whether the micro-entities regime suits how the business is structured and financed, and whether the resulting FRS 105 financial statements give a clear picture of the company’s position.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and decide to apply it. In broad terms, 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. That summary is a starting point rather than a complete answer. The relevant rules and exclusions can affect whether a particular company is eligible, so meeting two of the three size conditions does not by itself guarantee that the micro-entities regime is available or appropriate. Eligibility should be assessed against the company’s own figures and circumstances, including its structure and any restrictions that apply to it. For directors in Corsham, the practical approach is to review the company’s position for the specific accounting period, confirm whether it qualifies and elects to use the regime, and then prepare the FRS 105 financial statements on that basis.

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 your underlying records — bookkeeping, bank transactions, sales and purchase information, payroll details, asset purchases and any loans or director balances. From there, the accounts are built to reflect the company’s position and performance in line with the FRS 105 requirements that apply to its circumstances. Professional support is particularly valuable at the points where micro-entity reporting interacts with other obligations. The statutory accounts prepared under FRS 105 are one deliverable, filed at Companies House for the relevant accounting period; the Corporation Tax Return, usually the CT600, is a separate submission made to HMRC and is based on the company’s taxable profits rather than being the same document. The Confirmation Statement is separate again. Keeping these distinct helps avoid confusion about what is being prepared, who it is sent to and when. Good preparation also means the figures in the accounts are supported by the records behind them, that the disclosures included are appropriate for the framework being used, and that the presentation is consistent from one period to the next so the accounts remain comparable and useful to directors, lenders and anyone else who reviews them.

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Get Help With Your FRS 105 Micro Entity Accounts in Corsham

If your company is in Corsham and you would like support with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your circumstances. Tell us about your business, your accounting period and how you keep your records, and share the information needed to assess whether the micro-entities regime is likely to be suitable — including your turnover, balance sheet total, average employee numbers and any factors that might affect eligibility. From there, we can explain how the accounts would be prepared, what information you will need to provide, and how the accounts fit alongside your other filing responsibilities, such as your Corporation Tax Return and Confirmation Statement. Pricing for FRS 105 accounts can be set out clearly and transparently in advance, with fixed-fee options available depending on the work involved, so there are no surprises. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and take the next step with confidence.

─── 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 a qualifying company that chooses to apply the micro-entities regime prepares its financial statements, using simplified measurement and reduced disclosure compared with the frameworks used by larger companies. The result is a shorter, more streamlined set of accounts that still reflects the company's financial position and performance for the accounting period.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Meeting the size conditions is part of the picture, but other eligibility rules and exclusions can also apply, so qualification is not solely a matter of size. It is worth checking your company's specific situation rather than assuming FRS 105 is available to you.

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. This is a general summary and the relevant rules and exclusions still need to be considered, so meeting the size thresholds alone does not automatically confirm eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies can choose to apply it and prepare FRS 105 accounts, but it may instead use a different framework. Conversely, a company that does not qualify for the regime cannot adopt FRS 105 simply because it prefers the simpler format.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the financial reporting standard used by a much wider range of UK companies, and it involves more detailed measurement rules and significantly more disclosures. FRS 105 is a distinct, simplified framework written specifically for micro-entities, with reduced disclosure and a simpler measurement approach. Which framework applies to your company depends on whether it qualifies for and chooses the micro-entities regime.

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

Statutory accounts prepared under FRS 105 are filed at Companies House for the relevant accounting period, subject to the filing requirements that apply to your company. Filing accounts is a separate process from submitting a Corporation Tax Return to HMRC. Preparing the financial statements and submitting them are two distinct steps, and both need to be handled for the correct period.

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

Yes. FRS 105 accounts are the company's financial statements prepared under the micro-entities reporting framework, while the Corporation Tax Return, usually the CT600, is a separate filing made to HMRC. The CT600 deals with the company's taxable profits and tax position, and it is not the same document as the statutory accounts, even though the two are related and are usually prepared from the same underlying records.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Eligibility depends on the size conditions and the relevant rules and exclusions, so it should be assessed for the company's own circumstances rather than assumed. A first set of accounts is often a good point to confirm the most suitable reporting framework before preparation begins.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll details, details of assets purchased or sold, and any loans or director balances. Supporting documents for significant transactions help ensure the figures in the accounts are properly evidenced. The exact information needed depends on how the company operates and how its records are kept.