─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Derby

FRS 105 Micro Entity Accounts in Derby are prepared under the UK micro-entities regime, a simplified financial reporting framework for companies that qualify and choose to apply it. If your company meets the relevant eligibility conditions and the micro-entities regime is appropriate, FRS 105 can reduce the complexity of annual accounts while still providing a clear picture of your financial position. Professional preparation helps ensure the accounts are put together properly for your company’s circumstances — from the figures used through to the disclosures included — and that the resulting financial statements are suitable for filing with Companies House where required. It is important to remember that not every small company qualifies for FRS 105 automatically, and other reporting obligations such as Corporation Tax remain separate.

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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 for companies that qualify for the micro-entities regime and choose to apply it. In simple terms, it is a streamlined set of rules for preparing annual financial statements, designed to be easier and less costly to apply than the fuller UK GAAP frameworks used by larger companies. When a qualifying company applies the micro-entities regime, FRS 105 is the standard that governs how its accounts are prepared — covering matters such as how assets and liabilities are measured and what information is disclosed. The regime is optional, not automatic: a company must first meet the micro-entity eligibility criteria, and then its directors can decide whether applying FRS 105 is appropriate. For many Derby-based micro-entities, FRS 105 Micro Entity Accounts offer a practical way to meet statutory reporting requirements without unnecessary complexity, while still producing financial statements that are meaningful to the directors and other users.

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

FRS 105 is available to companies that qualify for the UK 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 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 size conditions is an important starting point, but it is not the whole story. Other eligibility rules and exclusions can apply, so a company that appears to fit the size thresholds may still be ineligible for the micro-entities regime, or may find that another framework is more suitable. Directors of Derby-based companies should therefore consider their specific circumstances — including the nature of the business, any group relationships, and the reporting needs of users — before deciding whether FRS 105 Micro Entity Accounts are appropriate. Professional guidance can help clarify eligibility and the available options.

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 involves taking your company’s financial records and turning them into a set of statutory financial statements that follow the applicable reporting requirements. A professional accountant can work through your bookkeeping, bank records, invoices, payroll information and other relevant details to build an accurate picture of your income, expenses, assets and liabilities. The resulting FRS 105 accounts can then be used as the basis for filing with Companies House where the company is required to do so. It is important to separate this from Corporation Tax: a CT600 return is submitted to HMRC and is not the same thing as the accounts filed with Companies House. While professional preparation helps reduce the risk of errors and oversights, no one can guarantee that accounts will be accepted without question, and Companies House does not approve or endorse accounts. What good preparation does offer is a careful, methodical approach based on your records and the reporting framework that applies to your company.

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Get Help With Your FRS 105 Micro Entity Accounts in Derby

If you are considering FRS 105 Micro Entity Accounts for your Derby company, the next step is simply to start a conversation. Tell us about your company, your accounting period, and the records you have available, and we can help you assess whether the micro-entities regime may be suitable for your circumstances. We can discuss what information is needed to prepare your accounts and how the process fits alongside your other filing responsibilities. There is no obligation and no pressure — just clear, practical guidance so you can decide how to move forward 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 that applies when a qualifying company chooses to use the micro-entities regime. It provides a simplified basis for preparing annual financial statements, with reduced measurement and disclosure requirements compared with larger-company frameworks. If your company qualifies as a micro-entity and the directors decide to apply the regime, FRS 105 is the standard used to prepare the accounts.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK 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. However, other eligibility rules and exclusions can apply, so meeting those size conditions alone does not automatically guarantee eligibility. Professional advice can help confirm whether your company qualifies.

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 may choose to apply it, in which case FRS 105 applies, or it may use another framework such as FRS 102 if that is more appropriate. Some companies may also be excluded from the micro-entities regime altogether. The decision should take into account the company's circumstances, its reporting needs, and any other relevant obligations.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the size conditions are generally: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. A company usually needs to meet at least 2 of these 3 conditions. Importantly, these are not the only considerations — certain rules and exclusions can affect whether a company qualifies, and eligibility should always be checked against the specific facts. This page relates to FRS 105 Micro Entity Accounts in Derby, and the same framework applies across the UK.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities standard, designed to be simpler and less detailed. FRS 102 is the main UK GAAP framework for larger or non-micro entities and contains more extensive recognition, measurement and disclosure requirements. Under FRS 105, for example, there are restrictions on fair value accounting and revaluations, and fewer disclosures are required. The right choice depends on whether your company qualifies for the micro-entities regime and whether the simplified approach is suitable for your circumstances.

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

If your company is required to file annual accounts with Companies House, then the FRS 105 accounts — once prepared and approved — form the basis of that filing. Filing obligations depend on the type of company and its circumstances. It is worth noting that Companies House registers accounts; it does not approve or endorse them. Filing accounts is also separate from filing a Corporation Tax Return with HMRC.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's tax position. The accounts may provide figures that feed into the tax return, but the CT600 is a distinct filing with its own deadlines and requirements. Preparing FRS 105 accounts does not, by itself, complete your Corporation Tax obligations.

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

To prepare FRS 105 Micro Entity Accounts, an accountant will typically need your bookkeeping records, bank statements, sales and purchase details, payroll information, and details of assets and liabilities. Prior year accounts can also be helpful for consistency. The exact information depends on the company's activities and circumstances. A professional can guide you through what is required and help ensure the accounts are prepared accurately from the records you provide.