─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Great Milton

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK micro-entities which choose to use the micro-entities regime. If your company in Great Milton is considering this route, the accounts must still be built on accurate bookkeeping and a clear understanding of the disclosure requirements that FRS 105 sets out. Professional preparation helps ensure the financial statements reflect your company’s actual transactions, are presented in the simplified format the regime allows, and are ready for the relevant filing obligations. Eligibility is not automatic, so it is worth reviewing your turnover, balance sheet total and employee numbers against the current micro-entity size conditions before deciding how to proceed. We work with directors and business owners in Great Milton and the surrounding area who want their FRS 105 Micro Entity Accounts handled carefully, with clear communication at each stage and no unnecessary jargon.

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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
  
 
      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.
  
 
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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
  
 
      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.
  
 
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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.
  
 
      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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is a simplified accounting framework available to companies that meet the relevant size conditions and decide to use it. In plain terms, FRS 105 lets a qualifying company prepare simpler financial statements than it would under a larger reporting framework, with reduced disclosure and a more straightforward presentation of the balance sheet and profit and loss account. The important point is that using the micro-entities regime is a choice, not an obligation. A company that qualifies can elect to apply it, and FRS 105 is the standard that then governs how those accounts are drawn up. A company that qualifies but prefers a fuller set of disclosures may instead report under a different framework. For directors in Great Milton, understanding which regime fits your circumstances — and confirming that you genuinely qualify — is the first practical step before any FRS 105 Micro Entity Accounts are prepared.

Who Can Use FRS 105 in the UK?

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 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. Those thresholds give a useful starting point, but they are not the whole picture. The micro-entities regime also carries its own rules and exclusions, and some entities are prevented from using it whatever their size. That means a company can meet two of the three conditions and still not be eligible. The sensible approach for directors in Great Milton is to look at the size tests alongside the wider eligibility rules, consider whether the micro-entities regime suits the business, and then decide whether FRS 105 Micro Entity Accounts are the right route 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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means starting from reliable records: your sales, purchases, expenses, bank transactions, assets and liabilities, together with any loans, director balances or stock figures that affect the numbers. From there, the accounts are drafted in the format FRS 105 requires, with the balance sheet, profit and loss account and any applicable notes presented in line with the standard. It is important to separate the different obligations involved. Preparing and filing the financial statements at Companies House is one task; dealing with Corporation Tax is another, and a CT600 is a separate submission made to HMRC. A Confirmation Statement is separate again. Good preparation keeps these distinct so nothing is overlooked. We base the accounts on the information you provide and the reporting requirements that apply to your company, and we explain the figures and assumptions behind the statements so you can review them with confidence before they are finalised. No firm can guarantee a particular filing outcome, but careful, methodical preparation gives you a sound basis for meeting your reporting responsibilities.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Great Milton

If you would like straightforward support with your FRS 105 Micro Entity Accounts, 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 director transactions, and an idea of your turnover, balance sheet total and average employee numbers so we can consider whether the micro-entities regime is likely to be available to you. We will talk through your circumstances, explain the options in plain English, and set out clear, transparent pricing before any work begins. Whether you are a new limited company preparing your first set of accounts or an established business in Great Milton reviewing how you report, we are happy to answer your questions and help you move forward.

─── 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 designed for micro-entities. It sets out a simplified basis for preparing financial statements, with reduced disclosure compared with the standards used by larger companies. It applies to a company when that company qualifies for the micro-entities regime and chooses to use it. The result is a shorter, more streamlined set of accounts that still presents the company's financial position accurately.

Who can use FRS 105?

FRS 105 is intended for companies that fall within the UK micro-entities regime and decide to apply it. Qualification depends on meeting the relevant size conditions and not being excluded for other reasons — for example, certain types of entity are outside the regime regardless of size. Meeting the size tests alone does not automatically mean a company qualifies, so it is worth checking the specific rules and exclusions that apply to your circumstances before assuming FRS 105 is available.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than a mandatory one. A company that qualifies may elect to use it, in which case FRS 105 governs the accounts. Equally, a qualifying company may choose a different reporting framework if it prefers fuller disclosure or has other reasons to do so. The decision is one for the directors, ideally taken with an understanding of what each option involves.

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 following 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 applicable size thresholds, but the regime also has its own rules and exclusions, so satisfying two of the three conditions does not by itself guarantee that a company qualifies.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard and is deliberately simpler, with reduced disclosures and a more condensed presentation. FRS 102 is the standard used more widely, including by small companies under Section 1A, and it requires more disclosure and offers more accounting policy options. Moving between them can change how items are measured and presented, so the choice should be considered carefully.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts normally form the basis of the company's annual accounts filing at Companies House, subject to the filing requirements that apply to that company. This is separate from Corporation Tax. Filing accounts at Companies House and submitting a Corporation Tax Return to HMRC are distinct obligations with their own processes and deadlines, so both need to be dealt with.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities reporting framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC and is a separate document with a separate purpose. The figures in the accounts usually inform the tax return, but the two are not the same filing, and completing one does not discharge the other.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping or accounting records for the period, bank statements, details of sales and expenses, information on fixed assets and any depreciation, figures for stock or work in progress where relevant, and details of loans, director balances and other liabilities. If you are already trading through a limited company, your previous year's accounts are also useful. Having this information ready helps the accounts be prepared efficiently and accurately.