─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Kingsbridge

FRS 105 Micro Entity Accounts in Kingsbridge are prepared under the financial reporting framework that applies when a qualifying company chooses to use the UK micro-entities regime. FRS 105 is a distinct standard rather than a shorthand for small company accounts: it is shorter and simpler than the frameworks used by larger businesses and is built around the disclosure needs of genuinely small companies. Whether it is the right fit depends on your company’s individual circumstances, including its size and whether any of the applicable eligibility rules or exclusions apply, so eligibility should always be checked rather than assumed. Professional preparation can help ensure your FRS 105 Micro Entity Accounts are built from accurate bookkeeping, prepared using the correct framework, presented clearly, and aligned with the relevant filing obligations. If you run a small limited company in Kingsbridge, working with someone who prepares FRS 105 accounts regularly can take much of the guesswork out of year-end and help keep your financial records in good order.

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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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a very small company should prepare its annual financial statements when it qualifies for the micro-entities regime and chooses to apply that regime. Because the micro-entities regime is an available accounting framework rather than something imposed on every small company, a qualifying business can decide whether to use it — and FRS 105 is the standard that applies when that choice is made. The main attraction is simplicity: FRS 105 financial statements are more streamlined than those prepared under other frameworks, with simpler measurement rules and fewer disclosures, which keeps the year-end process proportionate for a genuinely small business. For companies in Kingsbridge that meet the criteria and want straightforward, understandable accounts, FRS 105 Micro Entity Accounts can be an efficient route through the accounting and reporting process. The key point is that eligibility and suitability are not automatic, and the framework should be confirmed for your particular circumstances before accounts are prepared.

Who Can Use FRS 105 in the UK? Eligibility for Micro-Entities

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is size-based, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the 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 conditions apply alongside the relevant rules and exclusions, which means other factors can affect whether the regime is available — certain company types are excluded, and special rules can apply in areas such as company groups and first accounting periods. For that reason, meeting the size thresholds on their own should never be treated as an automatic green light. If you run a limited company in Kingsbridge and think the micro-entities regime might suit you, the sensible approach is to check your figures against the current conditions, confirm whether any exclusion applies, and then decide whether to adopt FRS 105 for your FRS 105 Micro Entity 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

Well-prepared FRS 105 Micro Entity Accounts start with good records. The accounts are built from your company’s bookkeeping, bank and sales information, asset and liability details, and any other financial records that reflect what has happened during the accounting period. From there, the figures are brought together into a set of financial statements prepared in line with FRS 105 and the applicable reporting requirements, including the simpler presentation and disclosure expectations that the micro-entities regime allows. It is worth being clear about the separate strands of compliance: preparing and filing your company’s financial statements with Companies House is one obligation, while Corporation Tax is handled through a separate return submitted to HMRC, and a Confirmation Statement is a further, distinct filing. Each has its own purpose and its own information requirements, even though the underlying figures overlap. Professional preparation helps make sure your FRS 105 Micro Entity Accounts are consistent, clearly presented and supported by records that stand up to scrutiny, while keeping your wider filing responsibilities in view.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Kingsbridge

If you would like support with your FRS 105 Micro Entity Accounts, the next step is a straightforward conversation. Tell us about your company — how it is structured, when your accounting period ends, what your records currently look like and whether you have previously used the micro-entities regime — and we can help you work out how FRS 105 applies to your circumstances. Bring along your bookkeeping, bank statements, invoices, expense records and any details of assets, liabilities or director’s loans, and we can assess what is needed to prepare your accounts. Whether you are filing for the first time, moving across from another framework, or simply want a second pair of eyes on the year-end process, we are happy to talk through your options in plain English and explain clearly what happens next.

─── 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: measurement rules are straightforward and the number of disclosures required is reduced compared with the standards used by larger companies. It governs how the annual financial statements are prepared, and it applies when a qualifying company chooses to apply the micro-entities regime rather than another accounting framework.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and decide to apply the micro-entities regime. Qualification is based on the size conditions set out in the applicable rules, together with any exclusions that apply to certain types of company. Meeting the size conditions is usually necessary but is not automatically sufficient, so eligibility should be checked against your company's specific circumstances before FRS 105 is adopted.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies as a micro-entity can generally choose whether to apply it. Choosing the regime means FRS 105 is the standard used for those accounts; a company that does not choose it will prepare its accounts under a different framework instead.

What are the 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, subject to the relevant rules and exclusions: 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 also apply, so the size conditions alone do not guarantee that the regime is available to a particular company.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 102 is the framework generally used by small and medium-sized companies that do not qualify for, or do not choose, the micro-entities regime. FRS 105 is the more streamlined standard for qualifying micro-entities, with simpler measurement and far fewer disclosure requirements. Which one applies depends on whether your company qualifies for the micro-entities regime and whether it chooses to use it.

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 accounts filed with Companies House, in line with that company's filing obligations. Filing requirements depend on the company's circumstances, and the accounts filing is separate from other obligations such as the Confirmation Statement and the Corporation Tax return.

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

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare a company's financial statements. A CT600 is a separate Corporation Tax filing submitted to HMRC. The figures in the accounts often inform the tax return and the two need to be consistent, but they are different documents prepared for different purposes and submitted to different bodies.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime for the period in question. There are specific rules covering a company's first accounting period, so the position should be confirmed once your trading activity, figures and any exclusions are known rather than assumed at incorporation.

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

In practice, preparation starts with your financial records: bookkeeping or accounting software reports, bank and credit card statements, sales and purchase invoices, details of expenses, payroll information where relevant, and a list of assets and liabilities including any directors' loans or stock. Useful extras include prior year accounts, any existing fixed asset schedules and confirmation of your accounting period dates. Clear, complete records make it much easier to prepare accounts that accurately reflect the company's position.