─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ledbury

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which have chosen to apply the UK micro-entities regime. FRS 105 is a distinct, simplified reporting standard, and it is not the same thing as a Corporation Tax Return (CT600), a Confirmation Statement, or the wider set of company filing obligations that a limited company may have. If your company is based in or around Ledbury, professional preparation of your FRS 105 Micro Entity Accounts can help ensure the financial statements are put together appropriately for your circumstances — reflecting the accounting policies permitted under the framework, the disclosures that are relevant, and the figures drawn from your own financial records. It also helps to have someone check whether the micro-entities regime remains the right fit as your business grows or changes. Qualifying for the regime is not automatic: eligibility depends on size conditions and on other rules and exclusions, so it is always worth reviewing your position before the accounts are finalised.

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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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 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 Qualifying Micro-Entities

In simple terms, FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. The regime is an optional accounting framework available to companies that qualify as micro-entities, and when a qualifying company chooses to use it, FRS 105 is the standard that applies to its financial statements. FRS 105 is deliberately streamlined: it allows a simpler balance sheet and profit and loss account presentation, avoids more complex measurement approaches such as revaluations and fair value accounting, and requires far less disclosure than the fuller standards used by larger companies. The idea is proportionality — micro-entities should not have to carry the same reporting burden as much bigger businesses. For directors in Ledbury, the practical consequence is a shorter, more straightforward set of accounts, but one that still needs to be prepared correctly and consistently from accurate records. Because the micro-entities regime is a choice rather than a default, it is worth understanding what FRS 105 involves before deciding whether it suits your company and its longer-term plans.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. 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 across the period. Meeting those conditions is about size — it does not settle the question on its own. The regime also carries its own rules and exclusions, and certain companies are not able to use it regardless of how small they are. Eligibility can also change from one period to the next as turnover, staffing or balance sheet figures move, which is why it is sensible to review the position each year rather than assume a previous decision still holds. If your company is based in Ledbury and you are weighing up whether FRS 105 Micro Entity Accounts are the right route, we can look at your circumstances, explain how the conditions apply to your accounting period, and set out the alternatives if the micro-entities regime is not available or not suitable.

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 Micro Entity Accounts

Well-prepared FRS 105 Micro Entity Accounts start with well-kept records. We work from your bookkeeping, bank information, sales and purchase records, payroll data and asset details to build financial statements that follow the micro-entity framework and reflect what has actually happened in your business during the period. That means preparing the balance sheet and profit and loss account in the form permitted for micro-entities, applying suitable accounting policies, and making sure the accounts are internally consistent with the information you hold. Alongside that, we can prepare the accounts for filing with Companies House, which is a separate exercise from your Corporation Tax obligations: the accounts and any supporting computations are used as the starting point for a CT600, but the CT600 itself is a Corporation Tax filing submitted to HMRC under different rules and on a different timetable. We can help with both, while being clear about which document is which. Nothing about this work guarantees a particular outcome or acceptance by any authority — what it does provide is a careful, properly considered set of micro-entity accounts based on the records you supply.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your company. Tell us about your trading activity, your accounting period, what records you already keep, and whether you have filed micro-entity accounts before. If your circumstances have changed — a big jump in turnover, new fixed assets, an extra employee or a different company structure — let us know, because that can affect whether the micro-entities regime is still appropriate for you. From there we can explain what information we need, how the accounts will be prepared, and how the Companies House filing fits alongside your separate Corporation Tax position. There is no obligation and no pressure: we are happy to answer questions, outline your options and give you a clear view of what is involved before you decide how to proceed.

─── 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, designed to reduce the reporting burden on very small companies by allowing shorter financial statements and far fewer disclosures than the fuller standards. Where a qualifying company chooses the micro-entities regime, FRS 105 is the standard its accounts are prepared under.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not automatically mean a company qualifies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies can choose to use it, or it can prepare its accounts under a fuller framework such as FRS 102. FRS 105 only comes into play when a qualifying company has actually chosen to apply the micro-entities regime — so eligibility and election are two separate questions.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are pitched at different sizes of company. FRS 105 is the leaner option: it permits a simpler presentation of the balance sheet and profit and loss account, does not allow revaluation or fair value measurement, and requires very limited disclosure. FRS 102 is a broader framework used by small and larger entities and allows more measurement choices, but it comes with more extensive disclosure requirements. Some companies also use the small entities regime within FRS 102 where FRS 105 is not the right fit.

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

Yes. A limited company must file annual accounts with Companies House, and where the company has prepared micro-entity accounts under FRS 105, those are the accounts that are filed. Filing accounts is a separate obligation from filing a Corporation Tax Return, which goes to HMRC. The accounts and the tax return are prepared on different bases and are subject to different rules, even though they draw on the same underlying records.

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

It is separate. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entity reporting framework and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The accounts are usually the starting point for the tax return, but adjustments are often needed, and the two documents serve different purposes and follow different requirements.

Can a new limited company use FRS 105?

A newly incorporated company can use the micro-entities regime if it qualifies and chooses to apply it, provided none of the applicable exclusions catch it. In practice, many new companies start small enough to meet the size conditions, but eligibility still needs to be assessed for the specific accounting period, and a first period that is longer or shorter than twelve months can affect how the conditions are measured. It is worth reviewing this early, before the accounts are prepared.

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

We generally need your accounting records for the period, including sales and purchase information, bank and cash records, payroll details, details of any fixed assets bought or sold, loan and lease arrangements, stock or work in progress where relevant, and the previous year's accounts for comparative figures. It also helps to know about anything unusual during the period, such as a significant one-off transaction or a change in how the business operates. The clearer and more complete your records, the more straightforward the preparation process tends to be.