─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Llandrindod Wells

If your company is based in Llandrindod Wells and may qualify for the UK micro-entities regime, FRS 105 Micro Entity Accounts could be the simplest and most cost-effective way to report your financial position. FRS 105 is the financial reporting framework that applies when a qualifying micro-entity chooses to apply the micro-entities regime, and it is designed around the reality of running a small company — shorter financial statements, reduced disclosure and a clearer focus on the figures that matter. Qualifying is not automatic: eligibility depends on the size conditions for the relevant accounting period, together with the specific rules and exclusions that can apply to certain companies. That is why professional preparation is valuable. We work through your records, confirm how the framework applies to your circumstances, and prepare accounts that properly reflect your company’s activity, so the figures filed are consistent, sensible and supported by the underlying bookkeeping. Whether you are filing your first set of micro-entity accounts or moving from another framework, you get clear explanations at every stage rather than jargon.

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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 Micro-Entities Regime Made Simple

FRS 105 is the accounting standard used to prepare financial statements for companies that qualify for, and choose to apply, the UK micro-entities regime. In plain terms, it is the most streamlined reporting framework available to small UK companies. It strips reporting back to the essentials — a simple balance sheet, a profit and loss account and a small number of notes — and it removes much of the fair value accounting and detailed disclosure you would find under a larger framework such as FRS 102 Section 1A. Crucially, companies are not automatically placed into FRS 105. The micro-entities regime is an available regime, and FRS 105 applies when a qualifying company decides to use it. If a company prefers more detailed reporting, or does not qualify, other frameworks are available. In Llandrindod Wells, we help owners of small limited companies understand which framework fits, what their FRS 105 Micro Entity Accounts will actually look like, and what the numbers mean for the business rather than just for the file.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then decide to apply it. For accounting periods beginning on or after 6 April 2025, the size conditions are a 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. A company generally needs to meet at least 2 of those 3 applicable conditions, and the relevant rules and exclusions must be considered as well. That last point matters: the size conditions are an important part of the picture, but they are not the whole picture, and meeting them does not by itself guarantee that a company can or should use FRS 105. Some companies are excluded from the regime entirely, and others may be eligible but better served by a fuller framework. If you run a small limited company in Llandrindod Wells, we can review your circumstances against the current rules and give you a clear view of where you stand before any accounts are prepared.

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 with Accurate Financial Reporting

Well-prepared accounts start with well-kept records. We take your bookkeeping, bank information, invoices, expense records and any other supporting documentation, and turn them into FRS 105 Micro Entity Accounts that are internally consistent and prepared on the basis of the framework that applies to your company. That includes building the balance sheet and profit and loss account, considering the disclosures that are relevant under the micro-entities regime, and making sure the figures agree with what has been reported elsewhere. Two things often get muddled together, so it is worth separating them clearly: preparing and filing financial statements at Companies House is one requirement, and submitting a Corporation Tax Return (CT600) to HMRC is a separate one. FRS 105 governs the accounting and financial reporting framework; the CT600 deals with your Corporation Tax obligations, and the two are prepared on different bases and submitted to different bodies. Where you ask us to, we can handle both — along with Confirmation Statements — but each is a distinct piece of work. We cannot promise that any filing will be accepted, and no accountant can guarantee a particular outcome, but we do review the numbers carefully and explain the judgements behind them, so you are not signing off on something you do not understand.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Llandrindod Wells

If you run a limited company in Llandrindod Wells and think the micro-entities regime might suit you, the best next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, roughly what its turnover, balance sheet total and employee numbers look like, and whether this is your first set of accounts or a change from another framework. From there we can talk through whether FRS 105 Micro Entity Accounts appear to be an appropriate route, what information we would need from you, and how the accounts and any related filings fit together. If FRS 105 is not the right answer for your circumstances, we will say so and explain the alternatives. Get in touch to discuss your requirements and to ask any questions you have about eligibility, preparation or filing.

─── 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 sets out how their financial statements are prepared, including what must be included in the balance sheet and profit and loss account and which limited disclosures are required. It is deliberately simpler than the frameworks used by larger companies, with fair value accounting largely removed and much less note disclosure required.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then 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 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. On top of the size tests, other rules and exclusions can apply to particular types of company, so meeting the size conditions alone does not automatically confirm eligibility. It is worth checking your position before assuming FRS 105 applies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available regime rather than a mandatory one. If your company qualifies, you can generally choose to apply it — and if you do, FRS 105 is the standard that applies. Some companies that would be eligible still prefer a fuller reporting framework, for example where a lender, investor or group parent wants more detail. There is also a separate framework for small companies that are not micro-entities.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is the more streamlined of the two, with a shorter set of financial statements and reduced disclosure. FRS 102 (and in particular Section 1A for smaller entities) allows or requires more detailed reporting, including certain fair value measurements and a wider set of notes. Choosing between them usually comes down to eligibility, what the company's stakeholders need to see, and whether the extra detail is genuinely useful.

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

The accounts a company prepares under FRS 105 are the basis for the financial statements it files at Companies House, subject to the filing requirements that apply to it. Filing accounts is a separate obligation from dealing with Corporation Tax. Companies House and HMRC are different bodies with different requirements, and one filing does not replace the other. We can prepare the accounts and handle the Companies House submission where you ask us to, alongside any other filings you need.

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

Yes, they are separate. FRS 105 relates to the accounting and financial reporting framework used to prepare your financial statements. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with your company's tax position. They are prepared on different bases and sent to different organisations, and meeting one does not automatically satisfy the other. Many company owners ask us to look after both so that the figures are joined up, but they remain distinct pieces of work.

Can a new limited company use FRS 105?

A newly incorporated company can potentially apply the micro-entities regime if it meets the relevant conditions and chooses to do so, but there is more to it than simply being new or small. Eligibility depends on the size conditions for the accounting period in question and on whether any exclusions apply to that company. If you have just started trading, it is usually sensible to review your expected turnover, balance sheet total and employee numbers early, so the framework you plan to use is the right fit from the outset.

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

In practice we need a clear picture of your company's financial activity for the period. That typically includes your bookkeeping or accounting records, bank statements, sales invoices and receipts, purchase and expense records, payroll or employee information, details of any loans or assets, and any previous set of accounts. If you are unsure what applies to your company, that is fine — part of the process is working out what is needed, and we will tell you what to send rather than expecting you to guess. Have a question about FRS 105 Micro Entity Accounts in Llandrindod Wells? Get in touch and we will talk it through.