─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lower Boddington

FRS 105 Micro Entity Accounts in Lower Boddington are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the UK micro-entities regime. FRS 105 is a simplified basis of accounting, allowing eligible companies to produce straightforward financial statements with a much reduced set of disclosures, which can make annual reporting far more manageable for a small owner-managed business. Professional preparation helps ensure those accounts are put together appropriately for your company’s own circumstances: the nature of its income, its assets and liabilities, any balances with directors, unusual transactions in the period, and the reporting requirements that actually apply to it. Eligibility is not automatic and depends on more than a single factor, so a sensible first step is a review of your company’s position before the accounts are drafted, confirming that the framework chosen genuinely fits the business rather than simply assuming it does.

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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.
  
 
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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.
  
 
      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 Plain-English Guide to the Micro-Entities Regime

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to use the micro-entities regime. In simple terms, it is a streamlined set of accounting rules for the smallest companies, letting them present a short balance sheet and profit and loss account with a minimal number of notes, rather than the fuller disclosures other frameworks require. Importantly, the regime is optional: a company that qualifies can decide to apply it, and FRS 105 then governs how the financial statements are drawn up. That decision is usually reviewed alongside the company’s wider reporting and tax position, because the framework chosen affects the figures and the disclosures that appear in the accounts. If your company in Lower Boddington is considering FRS 105 Micro Entity Accounts, understanding what the standard does and does not require is a useful starting point before deciding whether it suits your circumstances.

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

FRS 105 is intended for 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 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, subject to the rules on how each condition is measured. Meeting those size conditions is usually the starting point rather than the whole answer, because other eligibility rules and exclusions can apply to particular types of company or activity, and a company’s position can shift from year to year as it grows or restructures. Qualifying is only half of the decision, too: the micro-entities regime is an available option rather than a requirement, so FRS 105 applies when it is chosen. A short review of your company’s circumstances is the most reliable way to establish whether FRS 105 Micro Entity Accounts are the right fit for a given period.

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 and Accurate Financial Reporting

We prepare FRS 105 Micro Entity Accounts from the financial records you provide, applying the recognition, measurement and disclosure requirements of the micro-entities regime to your company’s own transactions and balances. That means working through your bookkeeping, bank and credit card statements, sales and purchase records, fixed assets, stock, loans and any director-related balances, then presenting the results in a set of financial statements that reflects your position for the period. It is worth keeping the different obligations distinct: the accounts and the Companies House filing are one part of the picture, while Corporation Tax is handled separately through a CT600 submitted to HMRC, and Confirmation Statements, VAT returns and other filings sit separately again. Many clients find it helpful to have those threads coordinated so nothing is overlooked, while maintaining a clear line between what is filed at Companies House and what is reported to HMRC.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Lower Boddington

If you would like help with FRS 105 Micro Entity Accounts for your company in Lower Boddington, get in touch and tell us a little about your business. It helps to have your latest trial balance or bookkeeping records to hand, along with details of any assets, stock, loans or director balances, and an idea of the accounting period you need covered. With that information we can review your circumstances, explain the options that may be available to you, and set out how the preparation and filing process would work. There is no obligation — just a straightforward conversation about where your company stands and what it needs.

─── 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 qualifying micro-entities which choose to use the micro-entities regime. It provides a simplified basis for preparing financial statements — typically a short balance sheet, a profit and loss account and a limited set of notes — rather than the fuller disclosure requirements found in other frameworks such as FRS 102 Section 1A. It is a framework for how the accounts are drawn up and presented, not a separate tax regime, and it sits alongside the company's other filing obligations rather than replacing them.

Who can use FRS 105?

It is available to companies that qualify as micro-entities under the UK rules and then decide to apply the micro-entities regime. Qualification depends on meeting the applicable size conditions and on not falling within any of the exclusions that apply to certain companies or activities. Because eligibility is not automatic, it is worth checking the position for each accounting period rather than assuming FRS 105 applies simply because the company is small.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A company that qualifies may choose to apply it, in which case FRS 105 governs how the accounts are prepared, or it may prepare its financial statements under another framework for which it is eligible. The choice is often made in light of the company's circumstances — for example, what the accounts are used for beyond filing, whether a lender or investor expects a fuller set of disclosures, or how the directors prefer to present the numbers.

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. Those conditions sit alongside other eligibility rules and exclusions, so satisfying the size tests alone does not automatically confirm that a company can or should use the micro-entities regime for a particular period.

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 and offer different levels of detail. FRS 105 is the micro-entities standard and permits a very simple format with minimal disclosures. FRS 102 is used much more broadly — including by small companies applying Section 1A — and generally involves more recognition, measurement and disclosure requirements, such as accounting policy notes and certain fair value or deferred tax considerations that FRS 105 does not permit. Which framework applies depends on the company's eligibility and on the regime it chooses.

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

The financial statements prepared for a company's accounting period generally form the basis of the annual accounts submitted to Companies House, subject to the filing requirements that apply and any option to file a simpler version of the accounts. Preparing the accounts and filing them are separate steps in the process, and both are distinct from HMRC filings. The filed accounts should be consistent with the underlying accounting records and with the figures used for the company's tax reporting.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime, whereas a CT600 is the Corporation Tax Return submitted to HMRC to report taxable profits and work out the tax due. The two are connected, because the accounts figures normally feed into the tax computation, but they are different documents with different purposes, different submission routes and different deadlines. Preparing the accounts does not, in itself, complete the company's Corporation Tax obligation.

What information is needed to prepare FRS 105 accounts?

In most cases we would look for your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, details of fixed assets and any depreciation, stock figures, and loan or hire purchase balances, along with amounts owed to or by directors or connected parties. It also helps to know the company's accounting period and whether anything unusual happened during the year, such as a significant purchase, a one-off cost or a change in trading activity. The more complete the records supplied, the more straightforward the preparation process tends to be.