─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cullompton

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime for companies that qualify for it and choose to apply it. In Cullompton, owner-managed limited companies often want accounts that are straightforward, accurate and aligned with the reporting framework that best suits their size and circumstances. FRS 105 sets out a simplified reporting basis, so the accounts typically include a concise balance sheet, limited notes and a small number of disclosures compared with larger frameworks. Professional preparation helps make sure the figures are built up properly from your bookkeeping and financial records, that the presentation matches the requirements of the micro-entities regime, and that the accounts tie in with the information you report elsewhere. It also gives you a chance to discuss whether the regime remains appropriate as your business grows, because eligibility is not automatic and can change from one accounting period to the next.

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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 — the smallest companies that meet the size conditions for the micro-entities regime. It is a simplified framework, which means far fewer disclosures than FRS 102 and a balance sheet-focused set of financial statements. The important point is that FRS 105 is not something a company is forced into by size alone; a qualifying company can choose to apply the micro-entities regime, and FRS 105 applies when that regime is chosen. Where a company does apply it, the accounts are prepared on that basis and filed accordingly. In practice this means simpler, shorter FRS 105 financial statements that still give a true picture of the company’s assets, liabilities and financial position. For directors in Cullompton weighing up their options, understanding what FRS 105 does and does not include is the first step towards deciding whether it is the right framework for the company.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended 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 3 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. The tests are considered in relation to the relevant period, and crossing or dropping below a threshold can change the picture from one year to the next. Critically, meeting the size conditions does not automatically mean a company is eligible. Other eligibility rules and exclusions can apply — certain types of entity are excluded from the micro-entities regime altogether, and some companies are required to report under a different framework. Companies in Cullompton looking at FRS 105 Micro Entity Accounts should therefore treat the size tests as a starting point rather than a conclusion, and confirm the position for their own circumstances before deciding to apply the regime.

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 is as much about accuracy as it is about simplicity. The figures need to be built from your underlying records — sales, expenses, bank transactions, assets, liabilities and any director’s loan movements — and then presented in line with the requirements of the micro-entities regime. Professional preparation means the balance sheet is properly structured, the notes and disclosures that FRS 105 requires are included, and the accounts are consistent with the rest of your company’s reporting. It is worth being clear about the boundaries here: preparing and filing financial statements with Companies House is a separate exercise from your Corporation Tax obligations, which are dealt with through a Company Tax Return (CT600) submitted to HMRC, and a Confirmation Statement is a further, separate filing. Good FRS 105 accounts support all of these, but they do not replace them. Meeting the reporting requirements is the aim — no one can guarantee a particular filing outcome or regulatory response, and results depend on the information provided and the company’s individual circumstances.

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Get Help With Your FRS 105 Micro Entity Accounts in Cullompton

If your company is considering, or already applying, the micro-entities regime, it is worth talking through your FRS 105 Micro Entity Accounts with someone who deals with them regularly. Share a little about your business — your accounting period, your turnover and balance sheet position, your employee numbers, and how your records are currently kept — and you can get a clear view of whether FRS 105 looks like the right fit and what would be involved in preparing the accounts. Bring along your bookkeeping or accounting software access, your latest accounts if you have them, and any details of significant transactions during the period. From there you can discuss a sensible way forward, ask questions about eligibility and presentation, and get 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 micro-entities. It is the simplest of the UK GAAP frameworks, designed to reduce the reporting burden on the smallest companies. Where a qualifying company chooses to apply the micro-entities regime, FRS 105 governs how the financial statements are prepared — typically a short balance sheet with limited notes rather than a full set of accounts with extensive disclosures.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. To qualify, a company generally needs to meet at least 2 of 3 size conditions for accounting periods beginning on or after 6 April 2025: 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 the size tests is not the whole story, because other eligibility rules and exclusions can also apply, and the position is assessed for each accounting period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic requirement. A company that qualifies can generally choose whether to apply it or to report under a different UK GAAP framework such as FRS 102. FRS 105 applies when the micro-entities regime is chosen, so the decision should be made deliberately, with an eye on the company's current size, its plans and who relies on the accounts.

What is the difference between FRS 105 and FRS 102?

Both are UK GAAP frameworks, but they differ in detail and complexity. FRS 102 is the standard applied by most small and medium-sized companies and includes wider recognition and measurement rules along with a fuller set of disclosures, including a profit and loss account in many cases. FRS 105 is a pared-back framework for qualifying micro-entities, centred on the balance sheet with far fewer notes. The simpler FRS 105 presentation suits companies whose reporting needs are modest, while FRS 102 may suit those needing more detailed presentation.

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

Where accounts are prepared under the micro-entities regime, they still form part of the company's statutory accounts and are filed with Companies House in the usual way, using the appropriate filing route for micro-entity accounts. Filing the accounts is separate from your Corporation Tax obligations — the accounts are the financial statements, whereas the Company Tax Return (CT600) is submitted to HMRC, and a Confirmation Statement is a further separate filing.

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

Yes, they are separate requirements. FRS 105 Micro Entity Accounts are the company's financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Company Tax Return submitted to HMRC to report taxable profits and calculate Corporation Tax. The accounts usually provide the starting point for the tax return, but they are different documents with different audiences, formats and submission routes.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but eligibility still needs to be assessed against the size conditions and the applicable rules for the period in question. A first accounting period may be shorter than twelve months, which can affect how the tests are applied, and a company that expects to grow quickly might think ahead about whether the micro-entities regime will remain suitable. It is worth reviewing the position before the first set of accounts is prepared.

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

Useful starting points include your bookkeeping or accounting software records, bank statements, sales and purchase information, details of fixed assets and any finance agreements, director's loan movements, and any stock or work-in-progress figures. It also helps to confirm your accounting period, whether the company applied the micro-entities regime previously, and details of any significant or unusual transactions during the year. The clearer the records, the smoother the preparation of the accounts is likely to be.