─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Drymen

If your company is based in Drymen and meets the qualifying conditions for the UK micro-entities regime, FRS 105 Micro Entity Accounts may be the most streamlined way to prepare and present your annual financial statements. FRS 105 is the financial reporting framework designed for qualifying micro-entities that choose to apply the micro-entities regime, and it allows for a simpler, shorter set of accounts than the frameworks used by larger companies. Professional preparation can help ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s own circumstances — reflecting the transactions actually recorded in your books, the disclosures the framework expects, and the format that suits a small company. It is important to note that not every small company qualifies automatically, and applying FRS 105 is a choice available to those that do qualify, so eligibility should always be reviewed against the current rules before the framework is adopted. Our role is to work through that assessment with you, prepare the accounts from your financial records, and explain clearly what is being reported and why.

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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: What It Means for Drymen Micro-Entities

FRS 105 is one of the financial reporting standards used in the UK, and it sits alongside the micro-entities regime — the set of rules that allows the smallest companies to prepare simpler accounts. In plain terms, FRS 105 is the accounting framework that applies when a qualifying company chooses to use the micro-entities regime for its annual accounts. It is built around the idea that a very small business does not need the same level of detail, measurement complexity or disclosure as a larger one, so the resulting financial statements are shorter and more straightforward. A company that qualifies for the micro-entities regime is not forced to use it; it can choose to apply FRS 105 or to report under a different framework instead. When FRS 105 is used, the accounts still need to give a fair and accurate picture of the company’s position and performance, based on the records kept during the year. For directors in Drymen running a small limited company, the practical appeal is usually simplicity: fewer notes, a more compact balance sheet and profit and loss account, and a reporting process that is easier to follow from one year to the next.

Who Can Use FRS 105 in the UK? A Guide for Drymen Companies

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 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. Those conditions give a useful starting point, but they are not the whole story. The micro-entities regime also carries its own eligibility rules and exclusions, meaning some companies are prevented from using it even if their figures look small enough, and certain periods, group situations or entity types may need closer consideration. In other words, meeting the size thresholds does not automatically guarantee eligibility, and eligibility does not automatically mean a company must apply FRS 105 — it remains a choice. For a small company in Drymen, the sensible approach is to review the position against the current rules before the accounts are prepared, particularly if the business is growing, taking on investment, or approaching one of the thresholds.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts well starts with good records. We work from the information your company holds — bank transactions, sales and purchase records, payroll details, asset purchases, loans and any other relevant items — and use that to build a set of financial statements that reflects what has actually happened in the business during the period. The accounts are prepared with reference to FRS 105 and the applicable reporting requirements for the micro-entities regime, and we will flag where judgement or further information is needed rather than assuming an answer. It is worth being clear about the different pieces of the puzzle: the preparation of the financial statements, the filing of those accounts with Companies House, and the company’s Corporation Tax position are separate matters. FRS 105 accounts are the annual accounts; a Corporation Tax Return (CT600) is a separate submission made to HMRC, and a Confirmation Statement is a further, different filing. We can help you understand how these fit together so that nothing is overlooked, while keeping in mind that responsibility for the accuracy of the information provided rests with the company and its directors.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Drymen

Whether you are preparing FRS 105 Micro Entity Accounts for the first time, moving across from another reporting framework, or simply want your existing accounts reviewed with fresh eyes, we are happy to talk it through. Tell us a little about your Drymen company — what it does, how it is structured, the accounting period you need accounts for, and how your records are currently kept — and we can assess whether the micro-entities regime and FRS 105 look like a suitable fit for your circumstances. From there we can explain the information we would need to prepare the accounts and outline clear, transparent pricing so you know where you stand before any work begins. Get in touch to discuss your 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 that applies to companies using the micro-entities regime. It is a simplified framework, which means the accounts it produces are shorter and less detailed than those prepared under standards aimed at larger companies. It covers how the figures are measured and what needs to be disclosed, and it is designed for the smallest companies that qualify for and choose the micro-entities regime.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualification is based on size conditions, but there are also other rules and exclusions that can affect whether a company is eligible — for example, certain types of company or entity are not permitted to use the regime regardless of size. Meeting the size tests alone does not automatically guarantee eligibility, which is why it is worth checking your company's specific position before adopting FRS 105.

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 may choose to apply it — and FRS 105 is the framework that then applies — or it may instead prepare accounts under a different framework such as FRS 102. The right choice depends on the company's circumstances, its stakeholders and what the directors want the accounts to show, so it is a decision worth reviewing rather than assuming.

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. These are 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 sit alongside the wider rules and exclusions that govern the micro-entities regime, so satisfying two of the three thresholds is an important part of the picture but not the whole test.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities framework and is deliberately the most streamlined option, with simpler measurement requirements and far fewer disclosures. FRS 102 is a fuller framework used by a much wider range of companies, including small companies that do not qualify for — or choose not to use — the micro-entities regime. Preparing accounts under FRS 102 generally involves more detail, more disclosure and more work.

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

Annual accounts are a separate filing obligation from Corporation Tax, and a company that prepares FRS 105 Micro Entity Accounts will normally need to file its accounts with Companies House in line with its filing requirements. The accounts filed must be prepared in the correct format for the framework used. Filing accounts and filing a Corporation Tax Return are two distinct processes, so it helps to keep track of both.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's annual financial statements, prepared under the micro-entities framework. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position rather than its statutory accounts. The figures in the accounts often inform the tax return, but they are different documents with different purposes and different recipients.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Eligibility in the first period needs care, because the size conditions are assessed using the applicable rules for that period and there may be limited or no comparative history to work with. It is also worth remembering that first-year accounts and the company's other filings have their own requirements, so getting the framework decision right early can save reassessment later.

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

In broad terms, we need a complete picture of the company's financial activity for the period: bank and cash records, sales and purchase information, payroll and employee details, details of any assets bought or sold, loan and finance arrangements, and any other transactions that affect the company's position. A trial balance or bookkeeping export is helpful, as are the previous year's accounts where they exist. The clearer and more complete the records, the more straightforward the preparation process tends to be.