─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts for Companies in Grantown On Spey

If your company qualifies as a micro-entity and you choose to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework that applies to you. FRS 105 sits alongside the UK’s other accounting standards and is designed specifically for the smallest companies, allowing financial statements to be prepared on a more straightforward basis than small-company or full accounts. For businesses in Grantown On Spey and the surrounding area, we prepare FRS 105 Micro Entity Accounts from your bookkeeping and financial records, taking account of your company’s individual circumstances, the information available and the reporting requirements that apply to it. Professional preparation helps ensure the figures are presented consistently, that the accounts reflect the company’s transactions accurately, and that the supporting records are in good order before anything is finalised. Not every small company qualifies for the micro-entities regime, and applying it is a decision rather than an automatic step, so we take the time to check your position before work begins.

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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 one of the financial reporting standards used in the UK, and it exists to support the micro-entities regime — a simplified accounting framework available to the smallest qualifying companies. In plain terms, if your company is eligible and you decide to use the micro-entities regime, your annual accounts are prepared under FRS 105. That usually means a shorter and more straightforward set of financial statements than you would see under larger-company frameworks, with limited disclosure requirements and a simpler measurement basis. FRS 105 accounts still need to reflect the company’s position accurately; the simplification is in how the statements are assembled and what has to be disclosed, not in whether the numbers matter. Many owners of small companies in Grantown On Spey use FRS 105 Micro Entity Accounts because they keep the reporting burden proportionate to the size of the business while still producing a set of financial statements that can be filed at Companies House. Remember that using the micro-entities regime is a choice, and it is only open to companies that meet the eligibility rules.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. It is not a framework that any small company can simply adopt by preference — the company must meet the applicable size and eligibility conditions first. 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. Meeting those size conditions is not, on its own, a guarantee of eligibility. Other rules and exclusions apply — for example, certain types of company and certain entities are excluded from the micro-entities regime, and the position can change as a business grows or restructures. For a company in Grantown On Spey considering FRS 105 Micro Entity Accounts, the sensible approach is to review the company’s turnover, balance sheet total, employee numbers and its legal form, then confirm whether the micro-entities regime is available and whether it is the right choice for the year in question.

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

FRS 105 Micro Entity Accounts are built from the underlying records of the company — sales, purchases, bank transactions, assets, liabilities and any other relevant information. We prepare the financial statements on the basis of those records and the reporting requirements that apply to your company, so the figures in the accounts can be traced back to the documents you provide. Where a company needs accounts for its members and for filing at Companies House, that is one piece of work; a Corporation Tax Return (CT600) is a separate submission made to HMRC, and the two should not be treated as the same thing. Preparing FRS 105 Micro Entity Accounts carefully involves checking that the accounting period and comparative figures are consistent, that the disclosures required by the framework are included, and that anything unclear in the records is raised with you before the accounts are finalised. We work from the information you supply and explain what we have done, so you understand what is being filed and why.

ICAEW

ACCA

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Get Expert Help With Your FRS 105 Micro Entity Accounts

If you would like support with FRS 105 Micro Entity Accounts in Grantown On Spey, get in touch and tell us about your company. It helps to have your latest trial balance or bookkeeping records, details of any fixed assets, loans or hire purchase agreements, your previous year’s accounts if they are available, and a clear idea of your accounting period and year-end date. From there we can review your circumstances, confirm whether the micro-entities regime looks appropriate for your company, and explain what is involved and how our clear, transparent pricing works — including the option of fixed-fee arrangements. There is no obligation, and a short conversation is often the quickest way to work out what your company actually needs.

─── 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 when a qualifying company uses the micro-entities regime. It is a simplified framework designed for the smallest companies, with reduced disclosure requirements and a straightforward measurement basis. In practice, FRS 105 accounts are usually shorter and less detailed than accounts prepared under other standards, but they still need to reflect the company's transactions accurately and be prepared from proper accounting records.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and 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 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. Other eligibility rules and exclusions can apply, so meeting the size conditions alone does not automatically mean a company can, or should, use FRS 105. It is worth reviewing your circumstances before deciding.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies can choose to apply it — and if it does, FRS 105 is the standard used for those accounts. Some qualifying companies prefer to prepare their accounts under another framework, such as FRS 102 Section 1A, because of how the figures or disclosures would look. The decision is yours, and it is worth weighing up what suits your company before you commit.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they suit different sizes of company. FRS 105 is the micro-entities framework: it is the most simplified option, with limited disclosures and a measurement basis that does not generally permit revaluations or fair value accounting. FRS 102 is the wider framework used by small and larger entities, and its small-company section (Section 1A) allows more accounting options and requires more disclosure. In short, FRS 105 means less detail and less flexibility, while FRS 102 means more of both.

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

Micro-entity accounts prepared under FRS 105 normally form the basis of the accounts a company files at Companies House, provided the company qualifies and has chosen the regime. Filing accounts at Companies House is a separate process from sending a Corporation Tax Return to HMRC, even though both draw on the same underlying figures. The accounts also need to be approved and signed by the director in the usual way. We can prepare the accounts and talk you through exactly what is being filed and where.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and used for Companies House filing purposes. A Corporation Tax Return (CT600) is a separate submission to HMRC that reports the company's taxable profits and calculates the tax due, and it is filed with HMRC rather than Companies House. The accounts usually provide the starting point for the figures in the CT600, together with any tax adjustments required, such as depreciation, capital allowances and disallowable expenses.

What information is needed to prepare FRS 105 accounts?

As a starting point, we usually need your bookkeeping or accounting records for the period, bank statements, details of income and expenses, information on fixed assets and any additions or disposals, loan and hire purchase agreements, and stock or work in progress figures where relevant. The previous year's accounts are helpful for comparison. If you keep records in accounting software, a trial balance or export covering the year is often the quickest route. We will let you know if anything further is needed once we understand your company.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first set of accounts if it qualifies as a micro-entity and the directors choose the micro-entities regime. A new company will usually satisfy the employee condition comfortably, but turnover and balance sheet total still need to be considered, and other eligibility rules can apply. First-year accounts often raise practical questions about the accounting period, the first year end and the records needed, so it is worth getting advice early rather than leaving it until a filing deadline is close.