─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Martock

If your company is a qualifying micro-entity and you have chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your annual accounts. FRS 105 is the UK standard built specifically for the smallest companies, and it allows a simpler, shorter set of financial statements than the standards used by larger businesses. In Martock and across Somerset, many small limited companies find that this approach keeps their reporting proportionate to the size and complexity of what they actually do. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together properly for your company’s own circumstances — reflecting the transactions and balances in your records, applying the disclosure requirements that go with the regime, and presenting the figures in a form that is consistent with the framework. It is not simply a matter of filling in a template: eligibility depends on meeting the relevant size conditions and on there being no rule or exclusion that prevents your company from using the regime, and the accounts themselves still need to be accurate and complete. Working with someone who deals with FRS 105 accounts regularly means the detail is handled carefully, so the figures you file are the figures that genuinely represent your business.

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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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   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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 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 It Is and Why It Matters for Micro-Entities

FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime. In plain terms, it is the set of rules a very small company follows when it prepares its annual accounts — and it is deliberately simpler than the standards used by larger businesses. Because micro-entities are not required to apply fair value accounting or the wider range of disclosures that bigger companies deal with, FRS 105 financial statements tend to be shorter and more straightforward, usually built around a simple balance sheet and a small number of notes. The important distinction is that FRS 105 is not automatic. A company must qualify for the micro-entities regime, and the directors must then choose to apply it. Where that choice is made, FRS 105 is the framework used to prepare the accounts. Where it is not, a company would generally report under FRS 102 instead, which carries more detailed recognition, measurement and disclosure requirements. For directors of small companies, understanding which framework applies matters because it affects how the accounts look, what information is included, and how the figures are presented to shareholders and to Companies House. FRS 105 Micro Entity Accounts are therefore a deliberate, considered option for the right company — not just a shortened version of a larger set of accounts.

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. Both elements matter: the company must fall within the regime, and the directors must decide to use 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 conditions are only part of the picture, however. A range of other eligibility rules and exclusions can apply, and some entities are prevented from using the regime altogether regardless of their size. There are also rules about how the thresholds are assessed, including how averages and periods are treated, which is why it is worth reviewing your specific circumstances rather than relying on a general rule of thumb. For directors in Martock and the surrounding area, the practical question is straightforward: does your company qualify for the micro-entities regime, and if so, is applying it the right choice for your reporting needs? Answering that properly means looking at your figures alongside your other obligations and the expectations of anyone who relies on your accounts.

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 starts with your underlying financial records — bank transactions, sales and purchase invoices, expense receipts, payroll information and any asset purchases or disposals during the period. From those records, the accounts are built up into the balance sheet and supporting notes that the micro-entities regime requires, with the figures checked for consistency and for anything that looks unusual or incomplete. A professional preparing your FRS 105 accounts will look at the detail behind the numbers, consider whether the treatment adopted is appropriate for your circumstances, and make sure the financial statements are internally consistent before they are finalised. It is worth being clear about the different obligations involved: the preparation of your financial statements and their filing with Companies House is one task, while your Corporation Tax position is dealt with separately through a Company Tax Return (CT600) submitted to HMRC. The two draw on the same underlying records and need to be consistent with each other, but they are distinct filings with different purposes and different deadlines. Good preparation also means flagging anything that needs your attention — for example a director’s loan, a change in accounting policy, or a transaction that needs further explanation — so that the FRS 105 Micro Entity Accounts you end up with are a fair and accurate reflection of your company.

ICAEW

ACCA

AAT

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

Whether you are preparing your first set of FRS 105 Micro Entity Accounts or looking for a more straightforward way to handle this year’s reporting, we are happy to talk it through. Tell us about your company — what it does, how long it has been trading, your approximate turnover, balance sheet total and number of employees, and whether you have prepared accounts under the micro-entities regime before. That information helps us assess whether FRS 105 is likely to be available to your company and what would be involved in preparing the accounts. Get in touch with your questions, and we will explain the options clearly, including how we can work from your existing records and what we need from you to get started.

─── 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 companies using the micro-entities regime. It sets out how the smallest qualifying companies prepare their annual accounts, and it is intentionally less demanding than FRS 102, which is the standard most other small companies use. In practice, FRS 105 accounts are usually shorter, built around a simplified balance sheet with a limited number of notes and no requirement to apply fair value accounting.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualification is based on size conditions, and there are additional rules and exclusions that can affect whether the regime is open to a particular company — for example certain types of entity are not eligible regardless of size. It is worth checking your position rather than assuming, because meeting the size thresholds alone does not automatically mean the regime applies.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime opens up an option rather than an obligation. A company that qualifies can choose to apply the regime — and if it does, FRS 105 is the framework used — or it can opt to report under FRS 102 instead. Some directors prefer the additional disclosures that FRS 102 provides, particularly where a lender, investor or parent company expects a fuller set of accounts.

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 following 3 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. These are the size conditions, and they sit alongside other eligibility rules and exclusions. Meeting two of the three does not by itself guarantee that the micro-entities regime is available to your company.

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 deliberately simplified, with fewer disclosure requirements and no fair value accounting. FRS 102 is used by a much broader range of companies and involves more detailed recognition, measurement and disclosure rules. Moving from FRS 102 to FRS 105, or the other way round, can change how items are presented in the accounts.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts still need to be filed with Companies House in the normal way. Using the micro-entities regime affects the content and format of the accounts — what is included and how it is presented — rather than removing the filing requirement itself. Filing the accounts is also separate from filing your Company Tax Return with HMRC.

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

Yes, they are two distinct filings. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. A Company Tax Return (CT600) is the Corporation Tax filing submitted to HMRC, calculating the tax due on the company's profits. They are based on the same underlying records and should be consistent with one another, but they serve different purposes and go to different authorities.

Can a new limited company use FRS 105?

A newly incorporated company can potentially fall within the micro-entities regime, but this depends on whether it meets the eligibility conditions and whether any exclusion applies. In the first period of trading the size tests are considered in the context of the relevant rules, so it is worth reviewing the position rather than assuming. A new company also has to think about its first accounting period and its filing obligations, which is a good moment to get advice on the framework that fits.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank statements, sales and purchase records, expense receipts, payroll or staff cost information, details of any assets bought or sold, and information on loans or amounts owed to and by the company. Details of share capital and any dividends paid are also relevant. Having complete records makes the preparation process smoother and reduces the chance of queries arising partway through.