─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Kidwelly

FRS 105 Micro Entity Accounts are the annual financial statements prepared under the UK micro-entities regime by companies that qualify for it and choose to apply it. FRS 105 is the financial reporting framework that sits behind those accounts, so getting it right matters: it determines how the figures are recognised and measured, what the balance sheet and profit and loss account look like, and how much disclosure is required. For a company in Kidwelly that meets the micro-entity size conditions, professional preparation can help ensure the accounts are built properly from the underlying records and are presented in a way that reflects the company’s actual circumstances — whether that is a straightforward trading year, a first set of accounts, or a period with loans, fixed assets or director activity to account for. Meeting the size tests alone does not automatically mean the micro-entities regime is available, and other rules and exclusions can affect eligibility, so it is worth reviewing your position before assuming which framework applies.

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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 
    
 
 
 
   
 
 
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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 .
  
 
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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.
  
 
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   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 Reporting Framework for the Micro-Entities Regime

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that says how a qualifying company’s annual accounts should be put together when that company chooses to apply the micro-entities regime. Because it is designed for the smallest companies, it is deliberately streamlined: the accounts are typically prepared on a historical cost basis, keeping things straightforward, and the disclosure requirements are lighter than those under other financial reporting standards. That means a shorter set of financial statements, usually a balance sheet, a profit and loss account and a small number of supporting notes. It is important to understand that the micro-entities regime is an option, not an obligation. A company that qualifies can choose to use it, and FRS 105 is the standard that applies when that choice is made — if the regime is not used, a different framework such as FRS 102 will apply instead. For a Kidwelly company weighing up its options, the key is confirming that the micro-entity conditions are genuinely met and that no exclusion applies.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility for Kidwelly Companies

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it — so eligibility and choice are two separate questions. On size, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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 are the headline tests, but they are not the entire story. Other eligibility rules and exclusions apply, and some types of entity are not able to use the micro-entities regime at all. Meeting the size conditions therefore does not automatically mean a company qualifies, and qualifying does not mean it must use the regime. If you run a company in Kidwelly and want to understand whether FRS 105 Micro Entity Accounts are an option for you, the practical approach is to look at your company type, your recent and expected figures, and any relevant restrictions before deciding how to prepare your accounts.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means working from the company’s own financial records — bookkeeping, bank and cash records, sales and purchase documentation, payroll information, asset details and any loan or director balances — and applying the recognition, measurement and disclosure requirements of FRS 105 to produce a clear set of financial statements. Professional support can help with the practical steps: agreeing the figures, structuring the balance sheet and profit and loss account, deciding which notes are needed, and checking that the accounts are internally consistent and reflect what actually happened in the period. It is worth being clear about the different obligations at play. Preparing financial statements under FRS 105, filing annual accounts with Companies House, and dealing with Corporation Tax are separate matters. A Corporation Tax Return (CT600) is submitted to HMRC and is not the same thing as the accounts, even though the two are related. Similarly, a Confirmation Statement is a separate Companies House filing that confirms company details rather than reporting financial performance. No one can guarantee a particular filing outcome, but careful preparation and a clear review of the company’s circumstances put you in a much stronger position.

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ACCA

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

If you run a company in Kidwelly and think the micro-entities regime may suit you, the sensible next step is a straightforward conversation. Tell us about your company, what it does, the accounting period you need accounts for, and how your records are currently kept — whether that is software, spreadsheets or a box of paperwork. It also helps to know whether you have filed accounts before, whether there are loans, fixed assets or director transactions to consider, and whether you need support with Companies House filing, Corporation Tax, or both. With that information we can look at your circumstances, confirm how FRS 105 Micro Entity Accounts would apply to you, and explain your options clearly, with transparent pricing and no jargon. Get in touch and we can take it from there.

─── 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 a qualifying company's annual accounts should be prepared when that company chooses to apply the micro-entities regime. It is a simplified framework, generally based on historical cost, with lighter disclosure requirements than other standards, which usually results in a shorter set of financial statements.

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. Qualifying is not simply a matter of size: certain rules and exclusions can prevent a company from using the regime even if it looks small on paper. It is worth checking your specific position rather than assuming the regime is available.

Is FRS 105 compulsory for every micro-entity?

No. Choosing the micro-entities regime is optional. A company that qualifies can decide to apply it, in which case FRS 105 is the standard used, or it can use another applicable framework such as FRS 102. The decision affects how the accounts are presented and what is disclosed, and changing framework later is not always straightforward, so it is worth considering the longer-term picture.

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 those conditions is not the whole test — other eligibility rules and exclusions can apply, so size alone does not guarantee that the micro-entities regime is available.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the most simplified framework, generally using historical cost with limited disclosure. FRS 102, including the small entities provisions, offers more accounting options — such as certain fair value and revaluation treatments — and requires more disclosure. The framework you use can change the figures reported and the length of the accounts, so the choice is worth making deliberately.

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

Where a company is required to file annual accounts, those accounts are filed with Companies House, and micro-entity accounts can be filed using the micro-entity provisions available to qualifying companies. Filing the accounts is a separate exercise from Corporation Tax, and from the Confirmation Statement, which confirms company information rather than reporting financial results.

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

Yes, they are separate. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime. A CT600 is the Corporation Tax Return submitted to HMRC. They are prepared on different bases and serve different purposes, although the figures in the accounts often inform the tax return.

Can a new limited company use FRS 105?

It may be able to, provided it qualifies as a micro-entity for the period in question and chooses to apply the micro-entities regime. A first set of accounts will not have comparatives, and there can be points to consider around the company's first accounting period, so it is sensible to confirm eligibility before preparing the accounts on that basis.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping or accounting records, bank and cash statements, sales and purchase information, payroll details, a list of assets, details of any loans or director balances, and any previous accounts or filings. The more complete and organised the records, the more straightforward the preparation tends to be.