─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Llantarnam

If your company qualifies for the UK micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework you can choose to apply. FRS 105 is the standard designed for qualifying micro-entities, and it applies when a company meets the eligibility conditions and decides to adopt that regime. For directors in Llantarnam, the practical value comes from having accounts prepared against the right framework from the start, using your bookkeeping and financial records as the foundation. Professional preparation helps ensure the figures, disclosures and presentation reflect your company’s actual circumstances, whether you are trading actively, holding property, or in your first year of operation. Because eligibility depends on more than a single test, it is worth reviewing your position before assuming FRS 105 is the right fit. The aim is straightforward: accounts that are properly prepared for your company, ready for the appropriate statutory filing, and clear enough for you to understand what has been reported.

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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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 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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework

FRS 105 is the financial reporting standard in the UK that sits alongside the micro-entities regime. In simple terms, the micro-entities regime is an accounting framework available to companies that fall within defined size limits, and FRS 105 is the standard that applies when a qualifying company chooses to use it. Under FRS 105, a company prepares its annual financial statements — typically a balance sheet, a profit and loss account and supporting notes — under a simplified, streamlined basis. The idea is that very small companies should not have to apply the same level of detail and disclosure as larger businesses, so the reporting is pared back to what is genuinely relevant. Two points are worth keeping in mind. First, using FRS 105 is a choice available to qualifying companies, not something that is imposed automatically. Second, the accounts still need to be accurate and complete for the framework being applied. FRS 105 Micro Entity Accounts are still real statutory accounts; they are simply prepared under the micro-entity rules rather than a fuller standard.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies in the UK 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 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 figures describe the size test — they do not, on their own, confirm that a company can use FRS 105. Other eligibility rules and exclusions sit alongside the size conditions, and a company can be capable of meeting the thresholds while still being prevented from applying the regime. That is why eligibility should be reviewed against your company’s specific circumstances, including its structure, activities and any connected arrangements, rather than treated as automatic. If your company qualifies and the directors decide FRS 105 is suitable, your FRS 105 Micro Entity Accounts would be prepared and filed under that framework; if it does not qualify, or if the regime is not the right choice, an alternative standard would apply instead.

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 company’s underlying financial records — bank transactions, sales and purchase records, payroll information, asset details and any relevant agreements — and applying the reporting requirements that go with the micro-entities regime. Our role is to take that information, prepare the financial statements on the correct basis, and make sure the presentation and disclosures are consistent with the framework you have chosen. That includes the balance sheet, the profit and loss account, and the notes that FRS 105 requires. It is important to keep the different obligations separate. Preparing and filing the statutory accounts is one exercise; submitting a Corporation Tax Return (CT600) to HMRC is a separate one, with its own figures, adjustments and deadlines. A Confirmation Statement is separate again. We can help you understand where each piece fits so that nothing is overlooked, but no one can guarantee a particular filing outcome or claim that Companies House or HMRC approves accounts in advance — the accounts simply need to be prepared correctly and filed on time.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts

If you are unsure whether your company qualifies for the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared properly, get in touch to talk through your requirements. It helps to have your latest records, an idea of your turnover, balance sheet position and employee numbers, and any details that might affect eligibility — such as group structures or the type of activities your company carries out. Send those across and we can assess your circumstances, explain how FRS 105 would apply in your case, and set out clear, transparent pricing for preparing your accounts. If FRS 105 turns out not to be the right framework for you, we will say so and discuss the alternatives instead.

─── 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 qualifying micro-entities. It sets out how a very small company prepares its annual accounts when it chooses to apply the micro-entities regime, using a simplified basis with reduced disclosure compared with fuller reporting standards. It covers the format and content of the financial statements, including the balance sheet, profit and loss account and the notes that accompany them.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not simply a matter of being small: a company must meet the applicable size conditions and must not fall within any of the exclusions that apply to the regime. Because eligibility rules are specific, it is worth checking your company's position rather than assuming you qualify — or that you do not.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies may choose to apply FRS 105, but it is also entitled to prepare its accounts under a fuller standard such as FRS 102 instead. The choice can depend on what the directors need from the accounts and whether the company has users, such as lenders, who prefer more detailed reporting.

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. Meeting those size conditions is not the whole story — other rules and exclusions can apply, and a company may still be excluded from the regime for reasons unrelated to size.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entity standard and applies to qualifying companies that choose the micro-entities regime, with a noticeably lighter set of disclosures and simplifications. FRS 102 is the standard used more widely by small and medium-sized companies and requires fuller reporting, including more extensive notes and accounting treatments that FRS 105 does not permit.

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

Yes. Preparing FRS 105 Micro Entity Accounts is a reporting exercise, but the resulting statutory accounts still need to be filed with Companies House within the applicable filing deadline for your company. Filing accounts and filing a Confirmation Statement are separate obligations, so meeting one does not satisfy the other. Our work on your accounts is about preparing them correctly; the filing itself is a separate step.

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

Yes, they are two distinct filings. FRS 105 accounts are the financial statements prepared under the micro-entities reporting framework and filed with Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which deals with the company's tax position and may include adjustments that do not appear in the accounts themselves. Both matter, and they are prepared for different purposes.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 in its first accounting period if it qualifies for the micro-entities regime and the directors choose to apply it. There is no minimum trading history requirement in itself, but a new company still has to meet the size conditions and any other relevant rules. If you are unsure, it is sensible to review your expected turnover, balance sheet and headcount before deciding.