─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Dumfries

FRS 105 Micro Entity Accounts are the streamlined financial statements prepared under the micro-entities regime, and they are designed for qualifying UK companies that choose to report in this simplified way. In Dumfries, many small limited companies find that the micro-entities regime offers a more proportionate approach than fuller reporting frameworks, with simpler disclosures and a format that reflects the day-to-day reality of a smaller business. Professional preparation of FRS 105 Micro Entity Accounts helps ensure that your figures are presented appropriately for your company’s own circumstances, that the accounting policies used suit your activities, and that the resulting financial statements are internally consistent with the records you have kept. It is important to note that FRS 105 is not automatic: a company must first qualify for the micro-entities regime and then actively choose to apply it. Our role is to work through your position with you, confirm whether the regime is available to you, and prepare FRS 105 accounts that reflect your trading accurately and clearly.

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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 that sits behind the micro-entities regime. In plain terms, it is a simplified accounting framework that allows qualifying micro-entities to prepare financial statements with fewer disclosures and less complexity than the standards used by larger companies. It is built around the idea that a very small company’s accounts should be proportionate to its size, so certain fair value measurements and more elaborate disclosure requirements are not part of the picture. The key point to understand is that the micro-entities regime is a choice: a company that qualifies may decide to apply it, and where that choice is made, FRS 105 is the standard that applies to the accounts. If the regime is not chosen, or the company does not qualify, a different framework such as FRS 102 would normally be relevant. For a Dumfries-based director, thinking about FRS 105 is really about deciding whether a simpler, more proportionate set of financial statements suits how you want to report — and then making sure those statements are prepared properly from the outset.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is available to companies that qualify for the micro-entities regime and then choose to apply it. Two things must line up: the company must meet the eligibility conditions, and the directors must decide to adopt the regime for the accounts. On size, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable 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 not the whole story. Other rules and exclusions can affect whether the regime is available, and certain companies may be excluded regardless of their size. This means eligibility should always be assessed against your company’s own position, its structure, and the nature of its activities, rather than assumed from turnover or headcount alone. If your Dumfries-based company is close to a threshold, or has an unusual structure, it is worth reviewing the position carefully before deciding which reporting framework to use.

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 means starting from a complete and accurate set of financial records and applying the reporting requirements that are relevant to your company. Our approach is to review the information you provide — bank records, sales and purchase details, payroll information, asset purchases and any loans or director balances — and then build the financial statements from that foundation. FRS 105 accounts are prepared for the company’s members and are filed at Companies House as part of the statutory accounts requirement. That process is separate from Corporation Tax: a CT600 is a distinct filing made to HMRC to report the company’s taxable profits, and it is not the same document as the accounts themselves. Likewise, a Confirmation Statement is a separate Companies House filing that confirms company details rather than reporting financial performance. Keeping these obligations distinct helps avoid confusion. While we prepare accounts carefully and in line with applicable reporting requirements, no accountant can promise a guaranteed outcome, and Companies House and HMRC do not approve, endorse or pre-review accounts. What we can do is apply professional care and judgement so your FRS 105 Micro Entity Accounts are prepared appropriately for your circumstances and are consistent with the records behind them.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Dumfries

If you are a Dumfries-based director wondering whether FRS 105 Micro Entity Accounts are right for your company, the best next step is a straightforward conversation. Tell us a little about your business — what it does, how it is structured, and roughly how it has traded over the period — along with the records you currently hold. From there we can assess whether your company qualifies for the micro-entities regime, explain what choosing it would mean for your reporting, and set out how the accounts would be prepared. Whether you are filing for the first time, switching framework, or simply want your existing figures reviewed with fresh eyes, we are happy to talk through your requirements and provide clear, transparent pricing for the work involved.

─── 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 a simplified basis for preparing financial statements, with reduced disclosure requirements compared to fuller frameworks such as FRS 102. It applies where a qualifying company chooses to adopt the micro-entities regime.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to apply it. Qualification depends on size criteria as well as other rules and exclusions, so meeting the size tests alone does not automatically mean a company can, or must, use the regime. Eligibility should be reviewed against the company's specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option rather than a requirement. A company that qualifies may choose to apply the micro-entities regime, in which case FRS 105 applies, or it may instead prepare accounts under a different framework. The choice is the company's, and it is worth considering which framework best suits your reporting needs.

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. These conditions are subject to the relevant rules and exclusions, so other eligibility factors can also apply and a company meeting the size tests is not automatically entitled to use the regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies and includes more extensive recognition, measurement and disclosure requirements. FRS 105 is a simplified framework specifically for micro-entities, with fewer disclosures and a more restricted measurement basis. Which one applies depends on whether the company qualifies for the micro-entities regime and whether it chooses to apply it.

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

Statutory accounts for a limited company are generally filed at Companies House, and where a company prepares FRS 105 Micro Entity Accounts those are the accounts that would be filed. The accounts and the filing are separate from the company's Corporation Tax Return, which is submitted to HMRC. It is worth checking the specific filing requirements that apply to your company.

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 regime where that regime has been chosen. A CT600 is a separate Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. The two documents serve different purposes, even though the figures in the accounts usually inform the tax return.

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. In the first period, size conditions are generally assessed on the basis applicable to a new company under the relevant rules, so it is sensible to confirm eligibility with reference to your own figures rather than assuming it applies.

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

Typically you would provide bank statements and reconciliations, sales and purchase records, payroll and wage information, details of assets bought or sold, and any loan or director's account balances. A trial balance or bookkeeping records are also helpful. The more complete and organised the information, the more efficiently the accounts can be prepared.

Are changes coming to micro-entity accounts filing?

Company filing requirements do change from time to time, and proposals around the format of accounts filed at Companies House have been discussed in recent years. Because the position can shift, it is worth checking the current requirements — or asking us — before you file so that your FRS 105 Micro Entity Accounts are submitted in an appropriate format.