─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lockerbie

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 Micro Entity Accounts provide a structured but simplified way to report your financial position. FRS 105 is the financial reporting standard used for micro-entity accounts, and it is designed for smaller companies that meet the relevant eligibility conditions. Professional preparation can help you present the accounts clearly, apply the framework consistently to your circumstances, and keep the financial statements aligned with the information you need for filing. Eligibility is not automatic, and not every small company can use FRS 105, so it is important to check the rules before deciding. From Lockerbie, we can help you understand whether FRS 105 Micro Entity Accounts are suitable for your company and prepare them from your financial records.

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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 .
  
 
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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.
  
 
      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: A Simple Guide for Micro-Entities in Lockerbie

FRS 105 is a UK financial reporting standard for companies that qualify as micro-entities and choose to use the micro-entities regime. In simple terms, it sets out how those companies prepare their annual accounts, including the balance sheet and related notes. The micro-entities regime is optional: a company that qualifies can choose to apply it, and if it does, FRS 105 is the framework that applies. FRS 105 accounts are generally more streamlined than accounts prepared under other standards, but they still need to reflect the company’s financial records accurately. For business owners in Lockerbie, understanding FRS 105 can help you decide whether it is the right framework for your company and what information you need to provide.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility in Lockerbie

FRS 105 is available to companies that qualify for the UK 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 the 3 applicable size conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. These are size conditions, not the whole story. Other eligibility rules and exclusions can apply, and meeting the thresholds alone does not automatically guarantee that a company can use FRS 105. The regime is also optional, so a qualifying company must decide to apply it. If you are considering FRS 105 Micro Entity Accounts in Lockerbie, we can help you review your circumstances and understand the next steps.

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.

Professional Preparation for FRS 105 Micro Entity Accounts in Lockerbie

Professionally prepared FRS 105 Micro Entity Accounts are built from your company’s financial records and the applicable reporting requirements. The process typically involves reviewing the bookkeeping, confirming the information needed for the financial statements, and preparing accounts that are suitable for a qualifying micro-entity that has chosen the micro-entities regime. FRS 105 accounts and Companies House filing are separate from Corporation Tax obligations: the accounts deal with financial reporting, while a CT600 Corporation Tax Return is submitted to HMRC. Good preparation helps keep the figures consistent, supports accurate financial reporting, and gives you a clearer picture of your company’s position. We can work with the records you provide and explain what is needed at each stage.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Lockerbie

If you would like support with FRS 105 Micro Entity Accounts, we can discuss your company’s circumstances and what is required. To assess whether the micro-entities regime may be suitable, it helps to have information such as your company’s accounting period, recent financial records, and an understanding of your turnover, balance sheet total and employee numbers. We can then explain the options and prepare the accounts based on the information you provide. Get in touch to talk through your FRS 105 Micro Entity Accounts requirements in Lockerbie.

─── 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 companies that qualify for the micro-entities regime and choose to apply it. It sets out the rules for preparing micro-entity accounts, including the balance sheet and related notes. It is a simplified framework compared with standards such as FRS 102, but it still requires the accounts to be prepared accurately from the company's financial records. FRS 105 applies when the micro-entities regime is chosen, not automatically to every small company.

Who can use FRS 105?

FRS 105 is intended for companies that meet the micro-entity eligibility conditions and decide to use the micro-entities regime. 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Other rules and exclusions can apply, so meeting the size conditions alone does not always guarantee eligibility. It is also a choice: a qualifying company may use the micro-entities regime and FRS 105, or it may use another available framework where appropriate.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a mandatory one for every company that might fall within the size limits. If a company qualifies and chooses to apply the micro-entities regime, FRS 105 applies. A company may instead use another suitable financial reporting framework if it meets the relevant conditions. The decision should take account of the company's circumstances and reporting needs.

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 to qualify as a micro-entity: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. These conditions operate alongside other eligibility rules and exclusions. If your company is close to a threshold or has unusual circumstances, it is worth checking the position before assuming it qualifies.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the financial reporting standard for qualifying micro-entities that choose the micro-entities regime. FRS 102 is a broader UK standard used by many other companies, including small companies that do not use the micro-entities regime. FRS 105 accounts are generally more streamlined and have simpler disclosure requirements, while FRS 102 provides a more detailed framework. The right choice depends on eligibility, the company's circumstances, and the reporting framework it decides to apply.

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

If a company prepares FRS 105 Micro Entity Accounts, it will usually need to consider its Companies House filing obligations for those accounts, subject to the applicable rules. Filing accounts with Companies House is separate from dealing with Corporation Tax. Companies House filing and HMRC Corporation Tax filing serve different purposes, and both may need attention depending on the company's position. It is important to check the current requirements for your accounting period.

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

Yes. FRS 105 accounts are financial statements prepared under the micro-entities regime, while a CT600 is a Corporation Tax Return submitted to HMRC. The two are related because the figures in the accounts can inform the tax return, but they are separate filings with different purposes and different recipients. Preparing FRS 105 accounts does not replace the need to consider Corporation Tax obligations.

What changes are coming to micro-entity accounts filing?

Companies House filing requirements have been subject to reform, and further changes are being introduced over time, including changes to how accounts are filed and the information required. Because the rules can change, it is important to check the current guidance for your accounting period rather than relying on older information. If you are preparing FRS 105 Micro Entity Accounts in Lockerbie, we can help you understand the current filing position and what it means for your company.