─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Leven

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. For a small company in Leven, that can mean simpler, shorter financial statements that still meet the reporting requirements relevant to its circumstances. Whether FRS 105 is the right framework depends on your company’s size, its legal form, any exclusions that apply, and the accounting regime it has chosen — so eligibility is never automatic. Professional preparation of FRS 105 Micro Entity Accounts starts with your bookkeeping and financial records and works through to a clear set of financial statements, with the Companies House filing handled as a separate step from your Corporation Tax obligations. If you are unsure whether your Leven company qualifies, a short review of your latest figures and circumstances will usually make the position clear.

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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 Regime in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is an accounting regime a qualifying company can choose to apply. When that regime is chosen, FRS 105 is the standard used to prepare the company’s financial statements. In practice, it keeps things straightforward: fewer disclosures, simpler measurement of items, and a format designed for very small companies rather than larger trading groups. For a Leven-based limited company, the appeal is usually a shorter, easier-to-read set of accounts that still reports the position and performance of the business. It is worth being clear about what FRS 105 is not. It is not a tax return, it does not replace your Corporation Tax filing, and it is not something every small company can simply adopt — the company must qualify for the micro-entities regime and choose to use it. If your circumstances change as the business grows, the framework you use may need to change too, so it is sensible to review the position each year.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and then choose to apply it. It is not open to every small company, and it is not automatic — the regime has to be both available to you and actively adopted. For accounting periods beginning on or after 6 April 2025, the size conditions to consider are 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, and a company generally needs to meet at least 2 of these 3 conditions. That is the starting point rather than the whole test. There are other eligibility rules and exclusions that can rule the regime out even where the size conditions are met, and certain types of entity are treated differently. For a Leven company, the sensible approach is to check the current figures and the company’s specific circumstances before deciding whether FRS 105 Micro Entity Accounts are appropriate, and to revisit that decision if the business grows or its structure changes.

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 FRS 105 Micro Entity Accounts depend on the quality of the records behind them, and on applying the framework consistently to the company’s own circumstances. In practice, that means taking your bookkeeping, bank records, invoices, expense details and asset information, checking that the figures reconcile, and then preparing financial statements in the format and with the disclosures that FRS 105 requires for a micro-entity. Where directors’ loans, stock, fixed assets or accruals are involved, these need to be treated thoughtfully rather than forced into a template. Once the FRS 105 financial statements are prepared and approved by the directors, the accounts can be filed at Companies House in line with the filing requirements that apply to your company. That filing is separate from Corporation Tax: a CT600 is submitted to HMRC, covers a different period in some cases, and follows different rules entirely — so it is important not to treat one as a substitute for the other. Preparing FRS 105 Micro Entity Accounts alongside your tax position helps keep the two consistent, though no outcome can be guaranteed and responsibility for the accounts rests with the directors.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Leven

If you run a small company in or around Leven and want your FRS 105 Micro Entity Accounts prepared properly and on time, the next step is a straightforward conversation about your circumstances. Tell us about your company’s activities, your accounting period, your latest figures for turnover, balance sheet total and employee numbers, and any changes since the last set of accounts. It also helps to know whether you have already filed accounts, which regime you have used previously, and how your bookkeeping is currently kept. With that information, we can assess whether the micro-entities regime looks appropriate for your company and explain what is involved in preparing FRS 105 financial statements, along with the separate Companies House filing and your Corporation Tax position. Clear, transparent pricing and fixed-fee options are available depending on the level of support you need, so get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 micro-entity should prepare its financial statements when it chooses to apply the micro-entities regime — including the formats to use, how items are measured, and the limited disclosures required. It is deliberately simpler than the standards used by larger companies, because it is aimed at the very smallest businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Both elements matter: qualifying does not oblige you to use it, and choosing it is not possible if you do not qualify. Legal form, the nature of the business, and certain exclusions can all affect whether the regime is available, so eligibility should be checked against your company's own position rather than assumed from size figures alone.

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. These are the headline size tests only. Other eligibility rules and exclusions can apply, so meeting two of the three conditions does not by itself guarantee that a company can use the micro-entities regime.

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 it, and FRS 105 applies once that choice is made. Some qualifying companies prefer to report under a different framework, for example where a lender, investor or group parent wants more detail than micro-entity accounts would provide. The decision is usually best reviewed each year as circumstances change.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 102 is the general standard and covers a much wider range of companies and transactions, with more measurement options and more disclosure requirements. FRS 105 is restricted to qualifying micro-entities that have chosen the micro-entities regime, and produces shorter financial statements with simpler measurement rules. Moving between the two is possible, but it needs to be handled carefully because the figures reported can differ.

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

Preparing FRS 105 Micro Entity Accounts and filing them are two distinct steps. Once the directors have approved the financial statements, the accounts are normally filed at Companies House within the filing requirements that apply to your company. The accounts filed are a public record, so it is worth checking the figures and the disclosures before submission. Filing accounts at Companies House is not the same as filing a tax return.

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

Yes, they are entirely separate. FRS 105 accounts are the financial statements prepared under the micro-entities regime, while a CT600 is the Corporation Tax Return submitted to HMRC. They are prepared for different purposes, have their own deadlines, and can cover different periods. Where possible, it makes sense to prepare them from the same underlying records so that the profit figure and the tax computation can be reconciled.

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

Typically you would provide your bookkeeping records for the accounting period, bank and credit card statements, sales invoices and supplier bills, details of any fixed assets bought or sold, stock or work in progress figures, director and shareholder loan balances, payroll information, and confirmation of any accruals or prepayments. Details of the previous year's accounts and the company's registration information are also useful. The cleaner and more complete the records, the more straightforward the preparation process tends to be.