─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ivybridge

FRS 105 Micro Entity Accounts give qualifying Ivybridge companies a simplified way to prepare and report their annual financial statements. FRS 105 is the financial reporting framework that applies when a company is eligible for the UK micro-entities regime and actively chooses to adopt it, so it is the regime and the framework working together that determine how the accounts look. Professional preparation helps make sure the accounts are built from your actual bookkeeping records, reflect your company’s particular circumstances, and include the disclosures the framework expects for the period in question. Because FRS 105 is not automatic — eligibility depends on size conditions, other rules and exclusions, and a positive decision to apply the regime — it is worth reviewing your position before assuming which framework fits. At Micro Entity Accounts, we work with companies across Ivybridge and the surrounding area who want their FRS 105 Micro Entity Accounts prepared carefully, consistently and in plain English.

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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.
  
 
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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 .
  
 
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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 for Ivybridge Micro-Entities

In simple terms, FRS 105 is the UK accounting standard that sits underneath the micro-entities regime. It is a deliberately streamlined framework: the financial statements it produces are shorter and less detailed than those prepared under larger-company standards, which is what makes it attractive to very small companies that want straightforward reporting without unnecessary complexity. The key point is that FRS 105 is not something a company is handed automatically — it is a framework a qualifying company can choose to apply, and it then governs how the micro-entity accounts are drawn up. In practice, FRS 105 accounts are usually built around a balance sheet with supporting notes, rather than the fuller set of statements that other frameworks require. If you run a small limited company in Ivybridge and want to understand whether your FRS 105 Micro Entity Accounts would be simpler, clearer and easier to follow, a short conversation about your numbers and your circumstances is usually the best starting point.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it, which is why eligibility is assessed rather than assumed. 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. Meeting those size conditions, however, does not guarantee eligibility on its own. Other rules and exclusions can apply — for example, certain types of company or entity are not permitted to use the regime — and the position can change as a business grows or restructures. Companies in Ivybridge that want certainty usually find it helpful to have their figures and structure reviewed against the current criteria before deciding which framework to use.

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 with Accurate Reporting

Well-prepared FRS 105 Micro Entity Accounts start with accurate records. We work through your bookkeeping, bank information, sales and purchase records, asset details and any relevant agreements, then use that information to build financial statements that are consistent with the framework and with the micro-entities regime your company has chosen to apply. The preparation of the financial statements and the filing of those accounts with Companies House are separate steps from your Corporation Tax position: a CT600 is a Corporation Tax Return submitted to HMRC, while FRS 105 accounts are the financial reporting element. We can help with both where needed, keeping the two clearly distinct so you know what is being filed, with whom, and on what basis. Nothing here is a guarantee of any particular outcome — accounts are prepared from the information provided, and it remains your company’s responsibility to review and approve them before submission.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Ivybridge

If you would like to discuss your FRS 105 Micro Entity Accounts, get in touch with Micro Entity Accounts and tell us a little about your company. Useful starting points include your company’s accounting period, your approximate turnover, balance sheet total and employee numbers, the framework used in your most recent accounts, and whether your records are kept on software or on spreadsheets. From there we can look at whether the micro-entities regime appears to be available to you, what the FRS 105 financial statements would involve, and what information we would need to prepare them. Every company’s position is different, so we will ask questions rather than make assumptions, and we will set out the next steps clearly — including what you would need to provide and how the work would be handled.

─── 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 using the micro-entities regime. It is a simplified framework, which means the resulting financial statements are shorter and less detailed than those prepared under standards designed for larger companies. It sets out how the accounts are put together — typically a balance sheet with supporting notes — and what information needs to be disclosed. FRS 105 only comes into play when a company qualifies for the micro-entities regime and chooses to apply it.

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. Meeting the size conditions is not the whole story — other eligibility rules and exclusions can apply, and in some cases a company that would otherwise qualify may be excluded. It is always worth reviewing your specific circumstances rather than relying on the numbers alone.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an obligation. A qualifying company can choose to apply it, and FRS 105 applies when that choice is made. If you would prefer a different framework, or if the micro-entities regime is not available to your company, other reporting standards may be relevant instead. The decision is usually best made by looking at your size, your shareholders and lenders, and what you want your accounts to show.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies, and it typically involves more detailed disclosures and more complex measurement and recognition rules. FRS 105 is the streamlined alternative available to companies using the micro-entities regime, producing shorter accounts with fewer notes. Moving between the two is not simply a formatting change — the figures and disclosures can differ — so it is worth planning ahead if your company's size or circumstances change.

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

Yes, in the normal course of events the annual accounts are filed at Companies House by the company, whether they are prepared under FRS 105 or another framework. Filing the accounts is a separate exercise from preparing them, and also separate from your Corporation Tax obligations. We can help prepare the FRS 105 Micro Entity Accounts and assist with the filing step, and you will always be able to see what has been submitted on your company's behalf.

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

Yes, they are two different things. FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is a Corporation Tax Return, which is submitted to HMRC to report your company's taxable profits and work out the Corporation Tax due. The figures often overlap, but the documents, the recipients and the rules are distinct, which is why it helps to keep both pieces of work clearly mapped out.

Can a new limited company use FRS 105?

A newly incorporated company can apply the micro-entities regime if it qualifies and chooses to do so — being new does not rule it out. In the first period, size conditions are generally assessed on the basis of the accounting period in question, and other eligibility rules and exclusions still apply. It is sensible to check your position early, because the framework you use affects how the first set of accounts is structured and what information you should be keeping from the start.

What changes are coming to micro-entity accounts filing?

Company accounts filing in the UK is being reformed, and proposals have included requiring more detail — such as profit and loss information — to be filed for small and micro-entity companies. The exact scope and timing have been subject to consultation and confirmation, so the practical position can shift. Rather than assume, it is worth checking the current requirements before each set of FRS 105 Micro Entity Accounts is finalised, and we can talk you through what the latest position means for your filing.