─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Grampound

FRS 105 Micro Entity Accounts are prepared under the UK financial reporting framework designed for companies that qualify for, and choose to apply, the micro-entities regime. For directors in Grampound, that means financial statements prepared in line with FRS 105 rather than a more detailed framework such as FRS 102. Professional preparation starts with reviewing your bookkeeping, bank records, asset register and any loans or director balances, then building a balance sheet and the required notes and disclosures that suit your company’s circumstances. Because the regime is available rather than automatic, eligibility needs to be assessed properly each year, and the accounts must still be filed correctly. Working with an experienced preparer helps keep the figures consistent, the disclosures appropriate, and the reporting aligned with what your company actually does.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 Financial Reporting Standard that applies to UK companies preparing accounts under the micro-entities regime. In simple terms, it is a simplified accounting framework: it is built around the balance sheet and a small number of notes, with fewer disclosure requirements than the standards used by larger companies. The micro-entities regime is an optional accounting regime — a qualifying company may choose to apply it, and FRS 105 applies when that choice is made. If a company does not qualify, or decides not to use the regime, it would normally report under a different framework such as FRS 102 Section 1A. FRS 105 financial statements still need to reflect the company’s real financial position accurately, so the simplicity of the framework does not remove the need for careful, consistent record-keeping throughout the year.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, the size conditions are generally a 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 — and a company normally needs to meet at least 2 of those 3 conditions. Importantly, the size tests are only part of the picture. Other eligibility rules and exclusions can apply, so meeting 2 of the 3 conditions does not by itself guarantee that the regime is available. Eligibility should be reviewed for each accounting period, and the decision to apply the regime is the company’s to make. For directors in Grampound, assessing this properly at the outset avoids awkward adjustments later.

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

Well-prepared FRS 105 Micro Entity Accounts start with accurate records. We work from your financial information — sales and purchase records, bank statements, payroll data, asset purchases and any amounts owed to or by the company — to produce financial statements that reflect your position under FRS 105. The accounts are then prepared for filing at Companies House as part of your company’s annual accounts obligations. That filing is separate from Corporation Tax: your CT600 is submitted to HMRC and deals with taxable profits, allowances and tax due, while FRS 105 accounts deal with the financial reporting framework. Keeping the two aligned matters, because figures used for one often inform the other. The aim is straightforward, consistent reporting that matches your company’s circumstances and the framework that applies to it.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Grampound

If you would like help with FRS 105 Micro Entity Accounts, the next step is a conversation about your company. Tell us about your trading activity, your year-end date, how your bookkeeping is currently kept, and whether you have previously prepared accounts under FRS 105, FRS 102 Section 1A or another framework. It also helps to share details of any loans, director’s accounts, asset purchases or unusual transactions during the period. With that information we can assess whether the micro-entities regime is likely to suit your circumstances and explain what is involved in preparing and filing your accounts. There is no obligation — just clear, practical guidance on your options.

─── 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 preparing accounts under the micro-entities regime. It is a simplified framework, centred on the balance sheet with limited notes and reduced disclosure compared with the standards used by larger companies. It applies when a qualifying company chooses to use the micro-entities regime.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not just about size — certain company types and circumstances are excluded, and the criteria must be assessed for each accounting period. It is worth checking your position rather than assuming eligibility, particularly if your company has investment property, is part of a group, or has unusual transactions.

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 using FRS 105, or it may instead prepare accounts under a different framework such as FRS 102 Section 1A. The choice can affect the disclosures and the level of detail in the accounts, so it is worth considering what best suits the company and its readers.

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 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 are the size tests, but other rules and exclusions also apply, so meeting 2 of the 3 conditions does not automatically guarantee eligibility for the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 105 is the micro-entities framework and is deliberately streamlined, with fewer disclosures and a balance-sheet-focused approach. FRS 102, including Section 1A for smaller entities, is more detailed and requires additional disclosures and accounting treatments. Which one applies depends on whether the company qualifies for, and chooses, the micro-entities regime.

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

Yes. A company's annual accounts, including accounts prepared under FRS 105, form part of its Companies House filing obligations. The accounts are filed separately from Corporation Tax, which is dealt with through HMRC. Filing requirements for small and micro-entity accounts are subject to change, so it is sensible to confirm what your company needs to submit for its particular accounting period.

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

Yes, they are two distinct requirements. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, covering taxable profits, allowable deductions and tax due. The figures often overlap, which is why preparing them together, or at least consistently, tends to reduce the risk of discrepancies.

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. The size conditions are assessed against the relevant period, and there are additional rules and exclusions that can affect whether the regime is available. For a first set of accounts, it is worth taking advice early so your record-keeping supports the framework you intend to use.