─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Falmouth

If your company qualifies for the UK micro-entities regime and you have chosen to apply it, FRS 105 provides the financial reporting framework for your annual accounts. For many small limited companies in Falmouth, FRS 105 Micro Entity Accounts offer a simpler, more streamlined route to producing statutory financial statements than the fuller frameworks, but the rules still need to be applied properly to your own figures and circumstances. Professional preparation helps ensure your accounts are built from accurate bookkeeping and records, that the right framework is confirmed before work begins, and that the resulting financial statements are consistent with the information held on file. Falmouth businesses often have limited time for compliance, so having someone else take responsibility for drafting, checking and finalising the numbers can make the year-end process far more manageable.

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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 Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified accounting framework: it allows eligible companies to prepare statutory financial statements with fewer disclosure notes and less complex measurement rules than larger companies face. The important point is that FRS 105 is not a separate legal status and it is not something a company is automatically given — it is an accounting regime that applies when a company qualifies for the UK micro-entities regime and chooses to use it. Once that choice is made, the company’s annual accounts must be prepared under FRS 105 rather than FRS 102 or another framework. In practice, micro-entity accounts tend to focus on a concise balance sheet, a small number of notes, and the required statements and disclosures, which makes them quicker and less costly to produce for the many small owner-managed companies that fit the criteria.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for UK companies that qualify for the micro-entities regime and choose to apply it. Size is the main test. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. That is a useful starting point, but it is not the end of the assessment. Certain companies and circumstances are excluded from the regime, and there are rules about how the thresholds are applied, including where a company has just started trading or has changed its accounting period. For that reason, meeting the size conditions does not automatically guarantee eligibility, and it certainly does not require a company to adopt FRS 105. For Falmouth companies weighing up their options, the practical approach is to look at the figures for the relevant period, check the exclusions, and confirm the position before accounts are prepared on a micro-entity 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 starts with your financial records: bookkeeping, bank transactions, invoices, expenses, payroll information and any asset or liability details relevant to the period. From there, the figures are reviewed, adjusted where necessary and presented in the format FRS 105 requires. Good preparation also means considering whether the micro-entities regime is genuinely the right and available option for the year in question, because eligibility is based on a company’s own size and circumstances rather than a blanket assumption. It is worth keeping two separate obligations in mind. The statutory accounts prepared under FRS 105 are filed with Companies House as part of the company’s annual accounts submission, while a Corporation Tax Return (CT600) is a distinct filing made to HMRC to report the company’s tax position. They draw on similar information, but they are not the same document and should not be treated as interchangeable.

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Get Help With Your FRS 105 Micro Entity Accounts in Falmouth

If you would like support with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your company and what it needs. Tell us about your trading period, your bookkeeping records, any assets or liabilities you hold, and whether the micro-entities regime has been used before. That information lets us assess your circumstances properly and explain how your accounts would be approached, what information we would need from you, and how the annual accounts process fits alongside your other filing responsibilities. Whether you are preparing micro-entity accounts for the first time or looking for a clearer, better organised year-end routine, get in touch to discuss your requirements.

─── 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 is a simplified accounting framework that qualifying companies can apply when they choose to use the micro-entities regime, allowing for shorter, less detailed financial statements than the fuller standards require. It covers how the figures are measured and what disclosures are needed, rather than changing a company's legal or tax status.

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 is based on a company's size against the applicable thresholds, and other eligibility rules and exclusions can also apply. If a company qualifies and chooses the regime, FRS 105 applies to its statutory accounts for that period.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not mean a company must use FRS 105. The regime is an available option, and a company that qualifies can choose to apply it or to prepare its accounts under a different framework. Once the micro-entities regime is chosen for a period, FRS 105 is the standard that applies to those accounts.

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. Meeting the size tests is not the whole picture, as other rules and exclusions can affect whether the regime is available, so eligibility should always be confirmed before accounts are prepared on that basis.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is designed for micro-entities and allows a much shorter set of financial statements with limited disclosures. FRS 102 is the standard used by a wider range of companies and generally requires more detailed disclosure and more involved measurement. A company that qualifies as a micro-entity can choose which is appropriate for its circumstances, bearing in mind the needs of lenders, investors and other users of the accounts.

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

Yes. A company's statutory annual accounts, including accounts prepared under FRS 105, form part of its filing obligations with Companies House. The format filed can be a simplified version for micro-entities, and the filed accounts must be consistent with the full accounts approved by the directors. This is separate from any Corporation Tax filing made to HMRC.

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

Yes, they are distinct. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and tax position. The two are based on overlapping financial information but serve different purposes and are filed with different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime in that period and chooses to apply it. Because a first accounting period can be shorter or longer than a normal year, and because eligibility depends on the company's own figures, it is sensible to confirm the position before preparing the accounts.