─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Kinross

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for qualifying companies that choose to apply the UK micro-entities regime. In Kinross, many small limited companies find that this regime offers a simpler, shorter set of financial statements than larger reporting frameworks, because FRS 105 permits a more streamlined balance sheet, limited notes and a straightforward profit and loss format. That simplicity only works well when the underlying records are accurate and the accounting treatment suits the company’s actual circumstances. Professional preparation of FRS 105 Micro Entity Accounts can help you present your figures consistently, keep the disclosures appropriate to the regime, and separate the accounts themselves from other obligations such as Corporation Tax and your Confirmation Statement. Eligibility is not automatic: the micro-entities regime is available to companies that meet the relevant size conditions and are not excluded by other rules, so each company’s position needs to be considered on its own facts before FRS 105 is adopted.

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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 Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. In plain terms, it is a simplified accounting framework for very small companies that qualify for the regime and decide to use it. When a qualifying company chooses the micro-entities regime, FRS 105 is the standard it applies, and the resulting FRS 105 financial statements are what the company prepares and files for that accounting period. The idea is to reduce complexity: fewer disclosures, simpler measurement rules and a presentation format that reflects the small scale of the business. What FRS 105 does not do is change the company’s tax position or replace other filings. It governs how the accounts are put together, not the tax that is due. For a Kinross-based limited company, the practical question is usually whether the micro-entities regime fits the business, and then whether the accounts have been prepared and disclosed in line with it. That is where experienced help makes a difference, because the rules on eligibility, exclusions and disclosure interact, and applying them correctly from the start avoids rework later.

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

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. Qualification is based on size, and 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 thresholds give a useful starting point, but they are not the whole picture. Other eligibility rules and exclusions can apply depending on the company’s structure, what it does, and whether it forms part of a group or is otherwise caught by restrictions on using the regime. Meeting the size conditions alone therefore does not automatically mean a company can, or should, use FRS 105. Some companies that qualify still prefer a different framework because of how they report to lenders, investors or group companies. If you run a company in Kinross and want to know where you stand, the sensible step is to review your figures and circumstances together, confirm whether the micro-entities regime is open to you, and then decide whether adopting it gives you the reporting you actually need.

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

Accurate financial reporting starts with accurate records. To prepare FRS 105 Micro Entity Accounts, we work from your bookkeeping, bank records, invoices, expense details and any relevant supporting information, then build the financial statements in line with the reporting requirements that apply to a company using the micro-entities regime. This typically includes a profit and loss account, a balance sheet and the limited notes FRS 105 permits. Two things are worth keeping clearly separate. First, the accounts themselves, and the filing of those accounts with Companies House where required. Second, Corporation Tax, which is dealt with through a separate return to HMRC (the CT600) and is not the same thing as preparing or filing FRS 105 accounts. In practice, the figures behind both often come from the same records, which is why it helps to have them prepared together and consistently. Our role is to prepare the accounts properly based on the information you provide and the framework that applies to your company. We do not approve accounts, guarantee a particular outcome, or act as a regulator, and Companies House and HMRC do not endorse or approve accounts before they are submitted. What we can do is help make sure the numbers are supported, the presentation is appropriate, and the accounts reflect your company’s circumstances rather than a generic template.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Kinross

If your company may qualify for the micro-entities regime, or you already prepare FRS 105 Micro Entity Accounts and would like them handled properly, we are happy to talk it through. Tell us about your company — what it does, how it is structured, when your accounting period runs, and how your records are currently kept — and share the information we need to assess your circumstances. From there, we can explain what applies to you, what the accounts should include, and how the work would fit alongside your other filing obligations. Whether you are preparing micro-entity accounts for the first time, moving from another framework, or simply want your figures in order before your accounts are finalised, get in touch and we will 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 companies using the micro-entities regime. It sets out how qualifying micro-entities prepare their financial statements, allowing a simplified format, reduced disclosures and simpler measurement rules compared with larger reporting frameworks. FRS 105 applies when a qualifying company chooses to apply the micro-entities regime.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not simply a matter of being small in a general sense — the company must meet the relevant size conditions and must not be excluded by other rules, such as its legal form or the type of business it carries on. Because those rules interact, eligibility should be checked against your company's own circumstances rather than assumed.

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 may choose to apply the micro-entities regime, in which case FRS 105 applies, or it may prepare accounts under a different framework such as FRS 102. The choice can affect what appears in the accounts and how much detail is disclosed, so it is worth considering carefully rather than defaulting either way.

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 these size conditions is not by itself a guarantee of eligibility, because other rules and exclusions can apply. Your company's specific position should always be reviewed before the micro-entities regime is adopted.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 105 is the micro-entities standard, offering a more streamlined balance sheet, limited notes and simplified measurement. FRS 102 is the standard used by larger small companies and others that do not fall within the micro-entities regime, and it generally requires more disclosure and applies different recognition and measurement rules in places. Moving between the two is possible, but it can affect comparatives and how items are presented, so timing and transition need thought.

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

Where a company is required to file accounts, those accounts are submitted to Companies House. Preparing the FRS 105 Micro Entity Accounts and filing them are two connected but distinct steps: the accounts are prepared under the micro-entities framework, and the filing obligation is a separate requirement governed by company law. What must be filed, and what may be omitted, depends on the regime being used and the company's circumstances.

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

Yes, they are separate things. FRS 105 accounts are the financial statements prepared under the micro-entities reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in the accounts often feed into the tax return, but the documents serve different purposes, go to different bodies in different contexts, and have their own requirements and deadlines.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it, but there is no blanket answer. In the first period, the size conditions and any exclusions still need to be considered, and a company that expects to grow may prefer to think ahead about which framework will suit it over the longer term. If you are starting out in Kinross, it is worth discussing the options before your first set of accounts is prepared.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, details of any assets and liabilities including loans and director balances, payroll or employee numbers where relevant, and any prior year accounts for comparison. The clearer and more complete your records, the smoother the preparation process — and the easier it is to deal with queries before the accounts are finalised.