─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Leominster

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — a simplified reporting framework available to qualifying UK companies that choose to apply it. If your company is based in or around Leominster and you are weighing up whether FRS 105 is the right fit, professional preparation can help you approach it with confidence. FRS 105 allows eligible micro-entities to produce shorter, simpler accounts, with reduced disclosure requirements compared to larger reporting frameworks, while still meeting the legal requirement to prepare and file annual accounts. Getting the detail right matters: the accounts need to reflect your actual financial records, follow the applicable reporting requirements and be consistent with the information you submit elsewhere. A properly prepared set of FRS 105 Micro Entity Accounts gives you a clean, accurate picture of your company’s position at the year end, prepared around your specific circumstances rather than a one-size-fits-all template. Whether you are a sole director running a small limited company, a contractor, or a family business trading locally, the aim is straightforward: accounts that are clear, consistent and appropriate for a micro-entity.

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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  
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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 Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard designed specifically for micro-entities. It sits within the wider set of UK accounting standards and is linked directly to the micro-entities regime — a simplified accounting regime that qualifying companies can choose to apply when preparing their annual accounts. In simple terms, if your company qualifies as a micro-entity and you decide to use that regime, FRS 105 is the standard you follow when preparing your financial statements. It is deliberately streamlined. Compared with fuller reporting frameworks, FRS 105 financial statements are simpler in format and require far fewer notes to the accounts, which makes them well suited to small owner-managed companies that want something proportionate to the size and complexity of their business. It is worth being precise about what FRS 105 is and is not. It is not a tax return, and it is not an optional extra bolted onto your filing obligations — it is the accounting framework that applies to your statutory accounts when the micro-entities regime is chosen. It is also not automatic: a company has to meet the relevant eligibility conditions and then decide to apply the regime. For businesses in Leominster and across Herefordshire, understanding which framework applies is the starting point for accounts that are prepared correctly from the outset.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the 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. Two important points follow from that. First, meeting two of the three conditions is a starting point rather than a complete answer — the relevant rules and exclusions can affect whether a particular company qualifies, so eligibility should always be assessed on the company’s own facts. Second, even where a company does qualify, applying the micro-entities regime is a choice: FRS 105 applies when that regime is used, and an eligible company may instead prepare its accounts under another framework. For companies in Leominster and the surrounding area, the practical questions are usually straightforward — what are the figures for the period, which conditions are met, are there any factors that rule the regime out, and is FRS 105 the most sensible option for the way the business is run and how its accounts will be used?

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 starting from your underlying financial records — bank transactions, sales and purchase information, expense records, asset details and any relevant supporting documentation — and turning them into a set of financial statements that reflects your company’s position in line with the applicable reporting requirements. That work covers the balance sheet, the profit and loss account and the limited notes required under the micro-entities framework, presented in the simplified format that FRS 105 permits. It is important to keep two separate obligations in view. Preparing and filing your statutory accounts with Companies House is one requirement; your Corporation Tax obligations, including the Corporation Tax Return (CT600) submitted to HMRC, are separate. They draw on similar underlying information, but they are not the same thing, and a set of FRS 105 financial statements should not be confused with a CT600, a Confirmation Statement or any other company filing. A careful preparation process considers your company’s circumstances, applies the framework consistently from year to year and keeps the accounts aligned with the figures you report elsewhere. If you would like your FRS 105 Micro Entity Accounts handled with that level of attention, the sensible next step is a conversation about where your company currently stands.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Leominster

If you need FRS 105 Micro Entity Accounts prepared for your company, or you are simply unsure whether the micro-entities regime is the right route for you, get in touch to talk it through. A short discussion about your company’s turnover, balance sheet position, employee numbers and structure will help establish whether FRS 105 may be available to you and what would be involved in preparing your accounts. Bring along your latest financial records, details of any assets, and information about your income and expenses for the period, and you will get a clear view of the work required and straightforward, transparent pricing for it. Whether you are filing for the first time, switching framework, or simply want your accounts prepared accurately and on time, we are happy to explain the options in plain English and help you decide what suits your circumstances.

─── 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 qualifying companies that choose to apply the micro-entities regime should prepare their annual financial statements, allowing a simplified format and substantially reduced disclosure compared with fuller reporting standards. It forms the basis of what are commonly called FRS 105 Micro Entity Accounts.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualification depends on meeting the applicable size conditions, and other eligibility rules and exclusions can also apply. Meeting the size thresholds on their own does not automatically guarantee that a company qualifies, so it is worth checking your specific circumstances rather than assuming.

Is FRS 105 compulsory for every micro-entity?

No. FRS 105 applies when a qualifying company chooses to use the micro-entities regime. A company that meets the micro-entity conditions is not obliged to apply that regime, and may prepare its accounts under a different framework instead. The key point is that FRS 105 is a chosen regime for eligible companies, not an automatic default.

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 the following 3 conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. The relevant rules and exclusions still apply, so meeting two of the three conditions is not on its own a guarantee of eligibility.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company and produce different levels of detail. FRS 105 is the streamlined micro-entities standard, with a simplified format and minimal notes. FRS 102 is a fuller framework used by a much wider range of companies, with more extensive recognition, measurement and disclosure requirements. Which one applies depends on whether your company qualifies for and chooses the micro-entities regime.

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

Statutory accounts for a limited company normally need to be filed with Companies House, and where FRS 105 accounts are prepared under the micro-entities regime, those accounts form the basis of that filing. It is important to remember that this filing obligation is separate from your Corporation Tax obligations, which are handled with HMRC rather than Companies House.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are statutory financial statements prepared under the micro-entities reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC. Both may draw on the same underlying financial records, but they serve different purposes, go to different bodies and are prepared under different rules, so one does not replace the other.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your financial records for the period — sales and purchase information, bank statements and transactions, expense details, payroll or employee information, details of any assets and liabilities, and any relevant supporting documents such as loan agreements or invoices. If accounts were prepared previously, the prior year figures are useful too. A quick review of the information is usually enough to confirm what is needed.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime if it meets the relevant eligibility conditions and chooses to apply it. New companies should check the applicable size tests and any exclusions carefully, because eligibility is not based on how long the company has been trading. It is a good idea to confirm the position before the first set of accounts is prepared.