─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Huntly

FRS 105 Micro Entity Accounts give qualifying Huntly companies a simpler, more proportionate way to prepare and present their annual financial statements. FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime: it applies when a company both qualifies as a micro-entity and chooses to adopt that regime for its accounting period. Because the regime is optional rather than automatic, eligibility has to be checked against the applicable size conditions and the wider rules and exclusions before accounts are drawn up. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your actual financial records, follow the disclosure requirements that apply to your circumstances, and present a clear, consistent picture of the company’s position. Whether you are trading as a small limited company in Huntly, working from home, or running a local business with a handful of staff, we can talk through your options and prepare accounts that suit the way your company operates.

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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 300 reviews 
    
 
 
 
   
 
 
       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 .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is the UK accounting standard written specifically for micro-entities. It is not a tax return and it is not a set of filing deadlines — it is the framework that determines how a qualifying company’s financial statements are put together. Under FRS 105, accounts are prepared on a simpler basis than under fuller standards: fewer disclosures are required, certain measurement rules are simplified, and the format is designed to be proportionate to the size and complexity of a micro-entity’s activities. Crucially, the micro-entities regime is a choice. A company that qualifies can decide to apply it, and FRS 105 is the standard that applies when that choice is made; if the regime is not adopted, a different framework such as FRS 102 would generally be relevant instead. In practice, FRS 105 financial statements typically include a balance sheet, a profit and loss account, and a limited set of notes, prepared from the company’s bookkeeping and supporting records. For a Huntly-based director, the practical benefit is straightforward: a reporting framework that fits the scale of the business, without the layers of disclosure that a larger company would need to provide.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it. 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. Those thresholds are the starting point rather than the whole answer. The regime also carries its own rules and exclusions, and certain companies are not able to use it regardless of size — so meeting the size conditions does not by itself guarantee eligibility. If your company qualifies and you decide to adopt the micro-entities regime, FRS 105 is the standard that applies to the financial statements. Companies in Huntly and the surrounding area that are considering their options can benefit from a straightforward review of their position before the accounts are prepared, so the framework used is the one that genuinely fits the company.

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 for Huntly Companies

Preparing FRS 105 Micro Entity Accounts properly means starting from accurate records. We work from your bank statements, sales and purchase information, expense records, payroll details and any other supporting documentation to build a set of financial statements that reflects what has actually happened in your business during the period. From there, the accounts are prepared in line with the recognition, measurement and disclosure requirements that apply to your company under FRS 105 and the micro-entities regime, including the specific formats and notes relevant to a micro-entity. Two separate obligations are often confused, so it is worth being clear: the preparation of the financial statements and their filing with Companies House is one matter, while the company’s Corporation Tax position and any CT600 submission to HMRC is another. Both may draw on the same underlying figures, but they are distinct requirements with distinct purposes. Our role is to prepare the accounts and supporting information carefully and to explain the basis on which they have been drawn up, so that you understand what has been filed and why.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Huntly

If you would like your FRS 105 Micro Entity Accounts prepared with care and clarity, get in touch and tell us about your company. It helps to know your accounting period, the nature of your trading activity, how your records are currently kept, and whether you have already decided to apply the micro-entities regime. From there we can assess your circumstances, confirm what information is needed, and explain the next steps in plain English — including how the accounts relate to your wider filing and tax obligations. There is no obligation and no pressure; the first conversation is simply about understanding where your company stands and what would be most useful to you.

─── 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 micro-entities. It sets out how qualifying companies prepare their annual financial statements when they choose to apply the micro-entities regime. Compared with fuller standards, it involves a simpler format and a reduced set of disclosures, so the accounts stay proportionate to the size of a micro-entity. It is an accounting and reporting framework — it is not a tax return and it does not replace any filing obligation.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualification depends on meeting the applicable size conditions and on not falling within any of the relevant exclusions. Meeting the size thresholds alone does not automatically mean a company is eligible, so it is worth checking the specific rules that apply to your company and accounting period before deciding.

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 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. These are the headline size tests. Other eligibility rules and exclusions can also apply, so a company that satisfies the size conditions should still confirm that nothing else prevents it from using the regime.

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 can choose whether to apply it. Where the regime is chosen, FRS 105 is the standard that applies; where it is not, a different framework such as FRS 102 would generally be used instead. The choice can affect the level of disclosure in the accounts, so it is worth considering both the current period and how you expect the business to develop.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the fuller UK financial reporting standard and applies to a much wider range of companies, including small companies that do not use the micro-entities regime. FRS 105 is a distinct, streamlined standard for micro-entities, with simplified measurement and far fewer disclosure requirements. In broad terms, FRS 105 accounts are shorter and more tightly defined, while FRS 102 accounts provide more extensive notes and disclosure. Which framework is appropriate depends on your company's eligibility and the regime it chooses.

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

The financial statements themselves are generally the document that gets filed at Companies House, subject to the filing requirements that apply to your company and the options available to it. That filing is separate from the company's Corporation Tax obligations. It is important not to treat the accounts filing and the tax filing as the same task, even though both are based on the same underlying financial records.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and filed as required with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position. The figures in the accounts are typically used as a starting point for the tax computation, but the two documents serve different purposes and are filed with different bodies.

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

In most cases we need the company's records for the accounting period: bank and credit card statements, details of sales and purchases, expense records with receipts where relevant, payroll and employee information, any loan or finance agreements, and details of assets the company owns. If you are moving from another accountant, opening balances and prior year accounts are helpful too. The more complete and organised the records, the smoother the preparation process tends to be.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime for the period in question. In the first period the company may not have a full set of comparative figures, and the size conditions still need to be considered. It is worth reviewing the position early, because the framework chosen for the first set of accounts tends to shape how later periods are prepared.