─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Loanhead

FRS 105 Micro Entity Accounts in Loanhead are prepared under the financial reporting framework that applies to qualifying micro-entities which have chosen to apply the UK micro-entities regime. FRS 105 is a distinct, simplified accounting standard, and it is only available to companies that meet the relevant eligibility conditions and decide to use it. Because the rules cover not just size but also company type and a range of exclusions, professional preparation is about far more than dropping numbers into a template. We work through your financial records, consider your company’s particular circumstances, and prepare FRS 105 financial statements that reflect the micro-entity accounting basis consistently — from the balance sheet and profit and loss account through to the notes and the directors’ responsibilities. For Loanhead-based companies, that means accounts prepared with care, explained in plain English, and aligned with what you need for your year-end reporting and your Companies House filing.

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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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   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.
  
 
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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. In plain terms, it is a short, simplified set of accounting rules that qualifying companies can use instead of the fuller standards that larger businesses follow. The UK micro-entities regime is the legal framework that makes this possible, and FRS 105 is the standard that applies when a qualifying company chooses that regime. The idea behind it is straightforward: smaller companies with simpler affairs should not have to produce financial statements loaded with fair value adjustments, deferred tax workings and lengthy disclosures that add cost without adding much insight for the reader. Under FRS 105, assets are generally held at cost or a simple valuation basis, and the disclosure requirements are far lighter than under a full reporting framework. What matters is that the choice is deliberate. Applying the micro-entities regime affects how your figures are measured and presented in your FRS 105 Micro Entity Accounts, so it should be a considered decision rather than an automatic default. If you run a small company in Loanhead and want to understand what FRS 105 would mean for your year-end accounts, we can talk you through it without the jargon.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it, and it is that combination — eligibility plus an active choice — that determines whether the standard is used. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 tests are measured across the accounting period and, in some cases, across consecutive periods, so a single strong year can affect the position in a later year. Size is only part of the picture. The company also has to be a type of entity that is permitted to use the micro-entities regime, and a number of exclusions can prevent a company from doing so regardless of how small it is. Some entities are simply not eligible. For that reason, a Loanhead company that looks like a micro-entity on paper should still have its eligibility checked carefully against its own facts before FRS 105 Micro Entity Accounts are prepared — meeting the size thresholds alone does not automatically guarantee that the regime can be applied.

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 reliable records and applying the micro-entity accounting basis consistently. We begin with the information you hold — bookkeeping records, bank and payment provider statements, sales and purchase invoices, payroll data, fixed asset details, loan and lease agreements, and stock or work-in-progress information where relevant. Those records are then used to build financial statements that include the balance sheet, the profit and loss account, and any notes required under FRS 105, together with the directors’ report where the regime and your circumstances call for it. Once the accounts are finalised and approved by the directors, the filing of those accounts with Companies House is a separate step and is handled on its own timescale. It is also important to be clear that accounts and Corporation Tax are different obligations: the accounts are the financial statements, while the Corporation Tax Return (CT600) is a separate submission made to HMRC. Preparing FRS 105 accounts does not, in itself, settle your corporation tax position, and your CT600 needs to reflect the same underlying figures. We can help you keep the two properly aligned so that nothing is filed in isolation or missed altogether.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Loanhead

If your company may be able to use the micro-entities regime, the next step is a straightforward conversation about your FRS 105 Micro Entity Accounts. Tell us about your business — what it does, how it is structured, roughly what its turnover, balance sheet total and average employee numbers look like, and how it currently keeps its records. That is usually enough for us to assess whether FRS 105 looks like an appropriate route for your circumstances, to explain what information we would need to prepare the accounts, and to set out clear, transparent pricing for the work involved. Whether you are filing micro-entity accounts for the first time, moving across from another framework, or simply want a second pair of eyes on your year-end position, get in touch and we will help you work out where you stand.

─── 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 sets out the accounting and disclosure requirements for micro-entities. It is deliberately short and simplified compared with the fuller standards used by larger companies, and it is designed to be applied alongside the UK micro-entities regime. In practice, it governs how your assets and liabilities are measured and how your figures are presented in your annual financial statements, and it requires considerably less disclosure than a full reporting framework would. It is a reporting framework — not a tax regime — so it does not determine how much Corporation Tax your company pays.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK micro-entities regime and that choose to apply that regime. Eligibility is not just about size. The company must also be of a type that is permitted to use the regime, and various exclusions can rule a company out even where its figures look small enough. Some entities are excluded outright regardless of their size. Because of this, checking eligibility properly — rather than assuming it — is an important first step before the accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option, not an obligation. A qualifying company can choose to apply it, and FRS 105 applies when that choice is made. If a company prefers, it can instead prepare its accounts under a fuller framework, which may suit businesses that want to present a more detailed picture — for example because a lender, investor or buyer has asked for it. The decision is normally taken with an eye on who will read the accounts and what those readers need to see.

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 3 applicable size conditions, subject to the relevant rules and exclusions: 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 over the period. Meeting two of those three conditions is a starting point rather than a guarantee, because the regime also depends on the type of entity and on the exclusions that apply. Companies with periods beginning before that date fall under the earlier thresholds, so the correct test depends on your year end.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main financial reporting standard for UK companies and is far more detailed. It generally requires more measurement work — for example around fair values, financial instruments and deferred tax — and a much wider set of disclosures in the notes. FRS 105 strips that back to a simpler cost-based approach with far fewer disclosures, which is why it is quicker and cheaper to prepare and easier for a small business owner to follow. The trade-off is that FRS 105 accounts give readers less information. FRS 102 also has a reduced-disclosure variant for small companies, which sits between the two in terms of complexity.

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

Yes. Where a company uses the micro-entities regime, its accounts are still filed at Companies House; the regime changes the content and format of the accounts, not whether they are filed. Micro-entity accounts are prepared in the format the regime requires, approved by the directors, and then submitted within the company's filing deadline. Filing the accounts is a separate activity from submitting a Corporation Tax Return, which goes to HMRC rather than Companies House. Many companies deal with both around the same time, so it helps to plan for them together.

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

They are two different things with two different audiences. FRS 105 Micro Entity Accounts are the company's statutory financial statements and are prepared under the micro-entity accounting framework, then filed at Companies House once approved by the directors. The CT600 is a Corporation Tax Return submitted to HMRC, calculating the company's taxable profit and the tax due. The accounts are usually the starting point for the CT600, so the two should be consistent, but preparing or filing one does not take care of the other. Companies also have separate obligations such as the Confirmation Statement, which is a distinct filing altogether.

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

We normally need a complete record of the year's trading: bookkeeping or accounting software data, bank and payment platform statements, sales and purchase invoices, payroll information, details of any directors' loans or other balances owed to or by the company, fixed asset purchases and disposals, and any loan or lease agreements. Opening balances and the previous year's accounts are helpful too, along with details of stock, work in progress or accruals where these apply. Once we have that, we can prepare the financial statements, walk you through the figures, and confirm what is needed next for approval and filing.