─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Glenrothes: Straightforward Financial Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, the simplified accounting framework available to UK companies that qualify for it and choose to apply it. For many small companies in Glenrothes, FRS 105 offers a more streamlined route to producing annual accounts, with a reduced set of disclosure requirements compared with larger reporting frameworks. Professional preparation starts with your underlying records — bookkeeping, invoices, bank statements, expense details and any relevant asset information — and then shapes those figures into financial statements that reflect your company’s circumstances and the reporting requirements that apply to it. Because eligibility depends on more than simply being a small company, and because applying the micro-entities regime is a choice rather than an automatic outcome, it is worth reviewing your position before accounts are prepared. Whether you are trading locally in Glenrothes or operating further afield, having FRS 105 Micro Entity Accounts prepared carefully can make the year-end process clearer, reduce last-minute scrambling, and give you a set of accounts you can confidently use for Companies House filing and your own understanding of the business.

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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 the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to use the micro-entities regime. In plain terms, it is the simplest set of accounting rules available to very small companies, designed to keep annual financial statements shorter, more straightforward and less costly to produce than those prepared under fuller frameworks such as FRS 102. Under FRS 105, the accounts focus on the essentials: a balance sheet, a profit and loss account and a small number of supporting notes, with far less narrative disclosure than larger companies must provide. The framework is closely tied to the micro-entities regime, which is a legal accounting regime rather than an automatic label — a company needs to meet the relevant size conditions and other eligibility rules, and its directors then decide whether to apply the regime. If they do, FRS 105 is the standard used to prepare those accounts. For directors of small companies in Glenrothes, understanding this distinction matters: it helps you see why your accounts may look quite different from those of a larger competitor, and why certain disclosures simply do not appear in a set of FRS 105 Micro Entity Accounts. It also helps you plan your year-end in a way that suits a simplified reporting framework, without assuming that the regime is right for every company.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide 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. In many cases those conditions are assessed on a continuing basis, so a company that previously fell within the regime may move outside it as it grows. Importantly, passing the size tests does not, on its own, guarantee that a company can use the regime. Other eligibility rules and exclusions apply, including restrictions relating to certain types of entity and to companies that form part of a group or are otherwise outside the scope of the micro-entities regime. Directors also have a choice: a qualifying company may apply the micro-entities regime and use FRS 105, or it may adopt a fuller framework instead. Because the position can change from year to year, companies in Glenrothes and across the UK should review eligibility and the reporting framework each time accounts are prepared, rather than relying on a decision made several years ago.

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 Built on Accurate Records

Preparing FRS 105 Micro Entity Accounts properly means working from accurate financial records and applying the reporting requirements that are relevant to your company’s circumstances. That involves reviewing your bookkeeping, reconciling bank and control accounts, checking that income and costs have been recorded in the correct period, and considering items such as fixed assets, stock, debtors and creditors so the figures presented are supportable. Where your company has more unusual transactions — director’s loans, grants, or asset purchases, for instance — these need to be handled thoughtfully within the framework rather than squeezed into a template. It is also important to separate the different obligations involved. Preparing and filing financial statements with Companies House is one requirement; submitting a Corporation Tax Return (CT600) to HMRC is a separate one, and both sit alongside other filings such as the Confirmation Statement. Each has its own content, deadlines and review considerations. Our role is to prepare your FRS 105 Micro Entity Accounts from the information you provide, explain the basis on which they have been prepared, and help you understand what is being filed and why — while being clear that responsibility for the accounts ultimately rests with the company’s directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Glenrothes

If you would like help with your year-end accounts, the next step is a straightforward conversation about where your company stands. Tell us about your trade, your accounting period, the records you already keep, and whether you have previously prepared accounts under the micro-entities regime. We will review that information alongside the eligibility conditions for FRS 105 and the reporting requirements that apply to your company, then explain how your FRS 105 Micro Entity Accounts would be prepared and what we would need from you. If it becomes clear that another framework suits your circumstances better, we will say so. Getting in touch early — ideally before your year end — usually makes the process smoother, gives you time to gather missing paperwork, and reduces pressure when filing deadlines approach. Reach out to discuss your FRS 105 Micro Entity Accounts requirements and any questions about Companies House filing or your separate Corporation Tax obligations.

─── 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 the most simplified accounting framework available to very small UK companies, allowing shorter financial statements with limited disclosure compared with frameworks such as FRS 102. In practice, a set of FRS 105 accounts typically includes a balance sheet, a profit and loss account and a small number of notes, keeping the reporting focused on the essentials.

Who can use FRS 105?

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 tests does not automatically guarantee eligibility, because other rules and exclusions can apply — for example, certain types of company or entity are excluded from the regime. Eligibility should therefore be considered alongside your specific circumstances, not assumed from turnover alone.

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 may choose to apply it, and FRS 105 applies when that choice is made. Some directors prefer to use a fuller framework, often because they want more detailed disclosures, need comparability with group reporting, or expect the company to grow beyond the regime in the near future. The decision is best made with a clear view of your reporting requirements and plans.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the standard used by a much wider range of UK companies and contains far more detailed recognition, measurement and disclosure requirements. FRS 105 is a pared-back framework specifically for qualifying micro-entities applying the micro-entities regime. FRS 105 accounts are generally shorter, with fewer notes and simpler presentation, while FRS 102 accounts give readers more information about accounting policies, estimates and the company's financial position. Which framework applies depends on your company's eligibility and the directors' choice.

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

Where a company prepares FRS 105 Micro Entity Accounts for its statutory financial statements, those accounts are filed with Companies House in line with the company's filing obligations. The accounts filed are typically the same set prepared for the members, though smaller companies may have options around what is included in the public filing. Filing accounts is a distinct requirement from other submissions, and directors remain responsible for ensuring the correct documents are filed on time.

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

Yes. FRS 105 accounts are financial statements prepared under a specific accounting framework, whereas 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 form the starting point for the tax computation, but adjustments such as disallowable expenses and capital allowances mean the taxable profit is often different from the accounting profit. Both obligations exist independently, along with other filings such as the Confirmation Statement.

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 the directors choose to apply it. In the first accounting period, size conditions are generally assessed in line with the applicable rules, and a company with modest turnover, a small balance sheet and few employees may well fall within the regime. However, eligibility is not automatic and other exclusions may be relevant, so it is worth confirming your position before preparing your first set of accounts.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping records for the accounting period, bank statements and reconciliations, sales and purchase information, details of any fixed assets acquired or disposed of, stock and work-in-progress figures where relevant, and a breakdown of debtors, creditors and any director's loans. Details of accruals, prepayments and any loans or grants also help. Providing complete records promptly allows the accounts to be prepared accurately and gives you time to review the figures before filing.