─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lincoln

FRS 105 Micro Entity Accounts in Lincoln are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the micro-entities regime. If your company qualifies as a micro-entity, FRS 105 provides a simplified basis for preparing annual financial statements, with reduced disclosure compared with other frameworks. Professional preparation helps make sure your accounts are built from accurate financial records, reflect the transactions your business has actually entered into, and are presented in line with the applicable requirements for your circumstances. Whether you run a sole director company, a family business or a contractor limited company in Lincoln, the sensible starting point is a review of your eligibility and reporting options, followed by accounts prepared properly and consistently from your bookkeeping. Not every small company qualifies for the micro-entities regime, and not every qualifying company chooses it, so the framework should always be confirmed before accounts are drafted.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 Plain English

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for the micro-entities regime and decide to apply it. In simple terms, it is the rulebook that tells a qualifying micro-entity how to put its annual financial statements together — what to include, how figures should be measured, and how the accounts should look when they are filed. It sits alongside the micro-entities regime itself: the regime is the set of eligibility conditions a company must meet, while FRS 105 is the accounting framework that applies once that regime is chosen. Because FRS 105 is deliberately simplified, there is less disclosure than larger frameworks require, and some accounting options available elsewhere are not permitted. That simplicity can be helpful, but it also means the framework is only suitable for companies whose circumstances genuinely fit it. For many directors of small Lincoln companies, the practical question is not simply ‘are we small enough?’ but ‘does FRS 105 suit how our business operates and what the accounts need to show?’ — and that is a conversation worth having with an accountant before the year end.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for 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. Those conditions sit within a wider set of rules, and various exclusions and special cases can apply — for example, certain entity types are not eligible, and particular circumstances can affect how the tests are applied. That means meeting the size thresholds alone should not be read as a guarantee that a company qualifies for the micro-entities regime. It is also important to remember that eligibility and choice are two different things: a qualifying company may still decide that another framework better reflects its activities. If you are based in Lincoln and want to know where your company stands, a review of your figures, structure and transactions will give you a much clearer answer than the thresholds by themselves.

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 working from your underlying financial records — bookkeeping, bank statements, sales and purchase invoices, payroll information, asset purchases, loans and any stock or work in progress — and applying the recognition and measurement requirements of FRS 105 to the transactions they contain. The financial statements are then presented in the micro-entity format, with the primary statements and notes appropriate to that framework. Filing those accounts with Companies House is a separate step from your Corporation Tax obligations: the accounts are the statutory annual accounts, while the CT600 is a Corporation Tax Return submitted to HMRC, prepared from the same underlying figures but with its own adjustments, computations and deadlines. Good preparation keeps the two distinct while making sure they are consistent with each other. Where judgement is needed — for example around a particular transaction, an accounting policy or whether the framework is the right fit — that judgement should be explained to you clearly so you understand the position taken in your accounts.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Lincoln

If you would like straightforward, professional support with FRS 105 Micro Entity Accounts in Lincoln, get in touch and tell us about your company. It helps to share a few basics up front — your company name and number, your accounting period dates, whether this is your first set of accounts, how your bookkeeping is currently kept, and anything unusual that has happened during the year, such as a new loan, an asset purchase, a change in activity or a director’s loan. From there we can discuss whether the micro-entities regime appears to fit your circumstances, what the accounts need to cover, and how the accounts and your separate Corporation Tax Return fit together. There is no obligation, and no assumptions are made about your position before we have looked at the facts — just a clear conversation about what you need and how we can help.

─── 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 which qualify for the micro-entities regime and choose to use it. It sets out a simplified basis for preparing annual financial statements, with reduced disclosure compared with the frameworks used by larger companies. Choosing it is a decision about how your accounts are prepared and presented, not a different type of tax treatment.

Who can use FRS 105?

It is available to companies that qualify for the micro-entities regime and decide to apply it. The size conditions are tested against the relevant rules, and certain entity types and circumstances are excluded, so meeting the size tests on their own does not automatically mean a company qualifies. Eligibility should be checked for each company before accounts are prepared on this basis.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying companies can choose the micro-entities regime, but there are alternatives, including the small companies regime under FRS 102 Section 1A. FRS 105 is the more streamlined option, and it also restricts some accounting treatments that other frameworks allow. The right choice depends on your transactions, your plans and what the accounts need to communicate to readers.

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, subject to the relevant rules, exclusions and any transitional provisions. Those conditions 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 during the period. Because other eligibility rules also apply, it is worth confirming your position rather than assuming the size tests alone decide it.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK standard, with Section 1A covering small companies and the full standard applying to larger or more complex entities. It permits or requires more disclosure and allows various accounting treatments, such as certain fair value and revaluation approaches, that FRS 105 does not. FRS 105 is narrower and simpler, which reduces disclosure but also limits flexibility.

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

Where a company is required to file annual accounts, its FRS 105 financial statements form the basis of what is delivered to Companies House, and micro-entity accounts can be filed in a simplified format with reduced disclosure. That filing is separate from HMRC's Corporation Tax processes and from the Confirmation Statement, which is a distinct Companies House filing confirming company information.

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

Yes. FRS 105 governs how your financial statements are prepared and reported, while the CT600 is a Corporation Tax Return submitted to HMRC. The CT600 is based on your accounts but involves its own adjustments and computations, such as disallowable expenditure and capital allowances, and it has its own filing requirements. Keeping the two separate but consistent is an important part of getting both right.

What information is needed to prepare FRS 105 accounts?

Typically we need your accounting records for the period, bank and credit card statements, sales and purchase invoices, payroll or subcontractor information, details of asset purchases and disposals, loan and finance agreements, any stock or work in progress figures, and the previous year's accounts if there are any. If you are unsure what is relevant, we can tell you what to send once we understand how your business operates.