─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lyme Regis

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to apply the UK micro-entities regime. In Lyme Regis, many small limited companies look for FRS 105 Micro Entity Accounts because the regime is designed to keep reporting straightforward, with a simplified balance sheet, limited notes and a format that reflects the needs of smaller businesses. Professional preparation starts with understanding your circumstances — your trading activity, your company structure, any group relationships and the transactions that have taken place during the period. From there, the accounts can be built from your financial records in a way that is appropriate to the framework you have chosen. It is important to note that applying FRS 105 is a choice available to companies that qualify; not every small company will meet the conditions, and some may be excluded for other reasons. A careful review of eligibility and reporting requirements helps you decide whether FRS 105 Micro Entity Accounts are the right route for your company before any figures are finalised.

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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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that sets out how small companies in the micro-entities regime prepare their annual financial statements. It sits alongside the Companies Act requirements and is deliberately simpler than the standards used by larger businesses, which is why it is often described as a reduced-disclosure framework. If your company qualifies for the micro-entities regime and you choose to apply it, then FRS 105 is the standard you use to produce your accounts. Those accounts typically include a simplified balance sheet, a profit and loss account in a prescribed format and a small number of notes, alongside the statements and disclosures the law requires. Because the regime is optional, a qualifying company could instead report under a different framework such as FRS 102 Section 1A. Understanding the trade-offs — the simplicity of FRS 105 Micro Entity Accounts against the additional disclosures other frameworks require — helps you make an informed decision for your Lyme Regis company rather than defaulting to a format that may not suit your circumstances.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification is a two-part test: you must fall within the eligibility rules, and you must decide that the regime is the right fit for your reporting needs. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable 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 thresholds are an important starting point, but they are not the whole story. Other eligibility rules and exclusions can apply, and some companies that meet the size tests may still be unable to use the regime, or may find that a different framework suits them better. For a Lyme Regis company, the practical approach is to review your figures against the conditions, consider any exclusions that might affect you, and confirm which framework you intend to apply before the accounts are prepared. That way, your FRS 105 Micro Entity Accounts are built on a sound understanding of eligibility rather than an assumption.

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 FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear picture of your company’s position at the period end. The preparation process involves reviewing your financial records, checking that income and expenditure have been recorded in the correct period, confirming balance sheet items such as debtors, creditors, stock and fixed assets, and then presenting the results in the format FRS 105 requires. It also involves drafting the accompanying statements and notes so that the accounts read clearly for the people who use them — directors, shareholders, lenders and other interested parties. Important to keep separate: your statutory accounts and their Companies House filing are one obligation, while your Corporation Tax Return (CT600) is a separate submission made to HMRC, prepared from the same underlying records but following tax rules rather than accounting ones. Similarly, a Confirmation Statement is a distinct annual filing and is not part of your FRS 105 financial statements. Working with an experienced preparer helps ensure your accounts are built from reliable records and reflect the framework you have chosen, though responsibility for the accuracy of the underlying information remains with the company and its directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Lyme Regis

If you are weighing up whether FRS 105 Micro Entity Accounts are right for your company, the best next step is a straightforward conversation about your circumstances. Tell us about your business, your trading year, who owns and manages the company and what you need from your accounts — whether that is a clean set of figures for Companies House, information for a lender or simply a clearer view of how the company is performing. We will review your records, explain the options available to you and let you know what information we need to get started, including your bookkeeping, bank statements, invoices, expense records and details of any assets or liabilities. There is no obligation to proceed, and no assumptions are made about your eligibility before we have looked at the detail. Get in touch with our team to discuss your FRS 105 Micro Entity Accounts requirements and find out how we can help.

─── 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 financial reporting standard in the UK that applies to micro-entities. It is a reduced-disclosure framework, meaning it is designed to be simpler than the standards used by larger companies, with a prescribed balance sheet and profit and loss account format and a limited number of notes. It applies when a qualifying company has chosen to apply the micro-entities regime. If a company qualifies but decides not to use that regime, it would normally report under a different framework, such as FRS 102 Section 1A.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Eligibility is not automatic and is not based on size alone. Alongside the size conditions, there are other eligibility rules and exclusions that can affect whether a company can use the regime — for example, certain types of company and certain group situations. It is worth checking your position carefully, and taking advice where the picture is unclear, before assuming FRS 105 applies to your company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies can choose to apply it and therefore prepare its accounts under FRS 105, or it can choose to report under a different framework. The right choice depends on your circumstances, including what the users of your accounts need and whether you want the additional disclosures that other frameworks provide. Many small companies prefer the simplicity of the micro-entities regime, but it is a decision rather than a default.

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. These are 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 conditions is an important part of the picture, but it does not by itself guarantee eligibility — other rules and exclusions can apply, so the size tests should be considered alongside the wider requirements of the regime.

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-entities standard and is the more simplified of the two, with a fixed format and reduced disclosure. FRS 102 is a broader standard, and Section 1A of it provides a reduced-disclosure option for small companies that do not use the micro-entities regime. In practice, the main differences you will notice are the level of detail in the accounts, the accounting treatments available and the volume of notes and disclosures required.

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

Statutory accounts prepared under FRS 105 are filed with Companies House in the usual way for a limited company, alongside any other filings the company is required to make. Filing is a separate step from preparing the accounts, and the format and content of what you file should be consistent with the framework you have applied. Your accounts filing is also distinct from your Corporation Tax Return (CT600), which goes to HMRC rather than Companies House, and from your Confirmation Statement, which is a separate annual filing.

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

Yes, they are separate. Your FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the accounting framework, while the CT600 is the Corporation Tax Return submitted to HMRC. Although both are usually built from the same underlying records, they serve different purposes and follow different rules — the accounts follow accounting standards and company law, while the tax return applies tax legislation, including adjustments that do not appear in the accounts. Preparing one does not automatically complete the other.

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

In most cases we would ask for your bookkeeping or accounting records for the period, bank and credit card statements, sales invoices and purchase invoices, details of any stock or work in progress at the period end, a list of debtors and creditors, payroll information if you employ staff, and details of any fixed assets bought or sold. Information about the company's structure, share capital, any loans to or from directors and any other significant transactions is also useful. The more complete and organised your records are, the smoother the preparation process tends to be.