─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Grantham

FRS 105 Micro Entity Accounts in Grantham are prepared under the financial reporting framework designed for companies that qualify for the UK micro-entities regime and choose to apply it. Applying FRS 105 is not automatic — it depends on whether your company meets the relevant eligibility conditions and whether the micro-entities regime suits your circumstances and those of the people who rely on your accounts. We work with directors and owners of small companies across Grantham to prepare FRS 105 Micro Entity Accounts that reflect the company’s financial records, present its position clearly and follow the presentation and disclosure requirements that apply under the regime. From reviewing your bookkeeping and trial balance through to preparing the financial statements and supporting the Companies House filing, the process is explained in plain English at every stage, with clear, transparent pricing and fixed-fee options where they fit.

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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 
    
 
 
 
   
 
 
       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.
  
 
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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.
  
 
      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: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. In simple terms, it is the shorter, simpler framework: it allows qualifying companies to prepare financial statements with far fewer notes and disclosures than larger reporting frameworks, and it focuses on historical cost rather than revaluation or fair value accounting. The regime itself is optional. A company that qualifies can choose to apply the micro-entities regime, and FRS 105 is the standard that applies when that choice is made; a qualifying company that prefers more detailed reporting can use FRS 102 instead. This matters for a Grantham micro-entity because the framework you choose affects the format of your balance sheet, the notes to your accounts and the way your results are presented at Companies House. It is a reporting framework rather than a tax regime, so it does not change how much Corporation Tax a company owes — it changes how the accounts are drawn up. We help directors understand which framework fits their company and then prepare the FRS 105 Micro Entity Accounts accordingly.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it, rather than for every small company as a matter of course. 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 during the period. Those conditions sit alongside other eligibility rules and exclusions — certain types of company are not able to use the regime at all — so meeting the size thresholds alone does not guarantee that FRS 105 is available or appropriate. If your company is based in Grantham and you are unsure where you stand, we can review your circumstances, including your trading activity, structure and reporting needs, and explain whether the micro-entities regime is likely to be open to you and what choosing it would mean for your financial statements.

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 for Grantham Companies

Professionally prepared FRS 105 Micro Entity Accounts begin with accurate, well-organised records. We review your bookkeeping, bank records, sales and purchase information and other relevant financial data, then prepare financial statements that reflect your company’s transactions and position in line with the FRS 105 framework where your company qualifies for and uses the micro-entities regime. Preparing the accounts and filing them at Companies House is one part of the picture; your Corporation Tax position is separate, and where relevant we can also help with the CT600 Corporation Tax Return and with other obligations such as the Confirmation Statement. We explain the basis on which the accounts have been prepared, note any assumptions or adjustments made along the way and keep you informed about what still needs to be done. Responsibility for the accounts rests with the directors, and neither Companies House nor HMRC approves or endorses accounts prepared on your behalf — our role is to prepare them properly from the information you provide and to make sure the figures hang together.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps if you can share a little about your trading activity, the accounting period you need covered, how your records are currently kept and whether you have prepared accounts before, so we can assess your circumstances and explain what is involved. Whether you are preparing micro-entity accounts for the first time, considering a move from another framework, or want support alongside your Corporation Tax Return, we will talk you through your options, what the micro-entities regime would mean for your financial statements and the information we need from you to get started.

─── 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 companies that use the micro-entities regime. It sets out how those companies prepare their financial statements, including the format of the balance sheet and the limited notes that are required alongside it. It is a reporting framework rather than a tax regime, so applying FRS 105 does not change how much Corporation Tax a company owes — it simply changes how the accounts are drawn up and how much detail they include.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK company size rules and that choose to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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. Other rules and exclusions apply, so meeting the size conditions does not by itself confirm that the regime is available, and it is worth checking your position before accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A company that qualifies for it can choose to apply the regime, in which case FRS 105 applies, or it can prepare its accounts under a different framework such as FRS 102. Many small companies select FRS 105 because the financial statements are shorter and simpler, but the right choice can depend on the company's structure, the nature of its transactions and what the directors, lenders or investors need to see.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard: it has fewer disclosure requirements and a simpler measurement approach based largely on historical cost. FRS 102 is used by larger small companies and other entities, and it includes more disclosures, more accounting policy choices and, in some circumstances, fair value and deferred tax considerations. In practice, the framework you use affects the level of detail in the accounts and some of the figures shown.

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

Where a company prepares accounts for a financial year, those accounts normally need to be filed at Companies House, and that filing is separate from anything submitted to HMRC. FRS 105 affects how the accounts are prepared rather than whether they are filed. Filing requirements have been evolving, including the way accounts are submitted, so it is sensible to confirm the current position for your accounting period before you file.

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

Yes — they are two different things. FRS 105 Micro Entity 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 to report the company's taxable profits and work out the tax due. The figures in the accounts usually inform the tax return, but the documents are prepared for different purposes, follow different rules and go to different authorities.

Can a new limited company use FRS 105?

It can, if it qualifies as a micro-entity for the period in question and chooses to apply the regime. A newly incorporated company often has low turnover and few employees in its first period, but eligibility depends on the size conditions and the other rules and exclusions that apply, so it should be checked rather than assumed. First-year accounts can also raise practical questions about the accounting reference date and the length of the period covered.

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

Typically we ask for your accounting records for the period — bookkeeping or a trial balance, bank statements, sales and purchase records, payroll information and details of any assets, loans or directors' transactions — together with your company registration details, the accounting period covered and any previous accounts. If your records are not fully up to date, we can discuss what is needed to get them ready. The more complete the information provided, the smoother the preparation process tends to run.