─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Gainsborough

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplified UK reporting framework available to companies that qualify as micro-entities and choose to apply it. For a small company in Gainsborough, that can mean shorter, more straightforward accounts built around the information that genuinely matters, rather than a full set of disclosures designed for much larger businesses. Professional preparation starts with your bookkeeping and financial records, checks the framework is appropriate for your circumstances, and then builds the accounts around the required format and disclosure requirements. It also helps separate the different pieces of company administration: the statutory accounts, the filing of those accounts with Companies House, and any separate Corporation Tax obligations. Because eligibility depends on the size conditions and on other rules and exclusions, the first step is always a proper review of your company’s position before any framework is applied.

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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. It sits alongside the micro-entities regime, which is a set of simplified accounting and reporting rules that qualifying small companies may choose to use when preparing their annual financial statements. In plain terms, FRS 105 keeps things lean: the accounts are prepared on a historical cost basis, there is far less disclosure than under a fuller framework such as FRS 102, and the balance sheet and profit and loss account follow a simpler presentation. The important point is that the micro-entities regime is an option, not an automatic label — a company has to qualify, and then the directors need to decide to apply it. Where that choice is made, FRS 105 is the standard that governs how the FRS 105 financial statements are put together. For a Gainsborough-based director running a small trading company, that usually means more readable accounts and a lighter administrative load around year end, while still producing statutory accounts that reflect the company’s actual financial position and performance.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is a two-part idea: the company needs to fall within the size criteria, and it must not be caught by any of the rules or exclusions that take certain entities outside the regime. 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. Meeting those conditions is not on its own a guarantee of eligibility, because other eligibility rules and exclusions can apply, and some company types cannot use the regime regardless of size. On top of that, applying the regime is a choice rather than an obligation. A Gainsborough company that appears to qualify may still decide that a fuller framework better suits its reporting needs. The sensible approach is to review your turnover, balance sheet total, employee numbers and company type, then confirm whether FRS 105 Micro Entity Accounts are the right fit for your circumstances.

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 working from reliable records: your sales and purchase information, bank and cash records, payroll details where relevant, asset purchases, loans, stock figures and any other items that affect the financial statements. Those records are then used to produce a set of accounts in the format required by FRS 105, with the disclosures that apply to a micro-entity and no unnecessary extras. It is worth being clear about what is and is not involved. Preparing the financial statements and filing them with Companies House is one process; Corporation Tax is a separate obligation, and a CT600 is submitted to HMRC rather than Companies House. A Confirmation Statement is separate again. Good preparation keeps these distinct so nothing is missed and the figures across the different filings are consistent with each other. We work carefully through your information, flag anything unclear, and prepare accounts that reflect the framework you are entitled to use — without overstating what any filing or framework can guarantee.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Gainsborough

If your company may qualify for the micro-entities regime, or you already prepare FRS 105 Micro Entity Accounts and would like a second pair of hands, get in touch to talk through your requirements. It helps to have a few basics ready: your latest trial balance or bookkeeping records, details of any fixed assets or loans, payroll information, and a note of your company’s filing history and accounting period. From there we can look at your circumstances, confirm whether the micro-entities regime appears appropriate, and explain the next steps clearly, including what is needed for the accounts and what sits separately, such as Corporation Tax. Pricing is set out in a clear, transparent way with fixed-fee options available, so you know where you stand before work begins. Reach out for a straightforward conversation about your FRS 105 Micro Entity Accounts.

─── 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, also called the Financial Reporting Standard for Micro-entities, is the UK accounting standard used to prepare the financial statements of companies that qualify for the micro-entities regime and choose to apply it. It allows a simpler format and far fewer disclosures than the fuller standards used by larger companies, and it is built around a historical cost basis. It is the standard behind FRS 105 Micro Entity Accounts.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies as a micro-entity may choose to apply the regime, and FRS 105 then governs how the accounts are prepared. Some qualifying companies instead prepare accounts under a fuller framework such as FRS 102, particularly where more disclosure or a fair value approach is wanted. The decision is normally taken by the directors, and it should be reviewed periodically as the business changes.

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. Meeting the size conditions alone does not always mean a company qualifies, because other rules and exclusions can apply — for example, certain company types are not eligible for the micro-entities regime at all. It is worth checking your specific position rather than assuming.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider UK financial reporting standard used by a broad range of companies, including small companies that do not use the micro-entities regime. It requires considerably more disclosure and allows more complex measurement options, such as certain fair value treatments. FRS 105 is far more streamlined: fewer notes, a simpler format and a historical cost approach. In short, FRS 105 trades disclosure and flexibility for simplicity, which suits qualifying companies that want clear, low-fuss statutory accounts.

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

Statutory accounts, including FRS 105 Micro Entity Accounts where the regime applies, generally need to be filed with Companies House for a limited company, following the relevant filing requirements and deadlines for your company's accounting period. Filing the accounts is a separate step from preparing them, and it is also separate from your Corporation Tax obligations. If you are unsure which filings apply to your company or when they are due, it is best to confirm your position before the deadline approaches.

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

Yes, they are separate. The FRS 105 accounts are the 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 calculate the tax due. The figures in the accounts usually inform the tax return, which is one reason the two should be prepared consistently — but they are different documents, sent to different bodies, with their own requirements.

Can a new limited company use FRS 105?

A newly incorporated company can use the micro-entities regime in its first accounting period if it meets the relevant criteria and the directors choose to apply it. New companies often start small, so the size conditions may well be met, but eligibility still depends on the full rules rather than size alone. It is also worth thinking ahead: if the business grows, turnover, balance sheet total or employee numbers may change, and eligibility should be reviewed each year.

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

Typically you would provide your bookkeeping or accounting records for the period, bank and cash statements, sales and purchase information, payroll details if you employ staff, details of any fixed assets and depreciation, loan and finance agreements, stock or work-in-progress figures where relevant, and the previous year's accounts for comparison. Directors' loan account movements and any share capital details also help. The cleaner and more complete the records, the more straightforward the preparation — and we will tell you if anything further is needed.