─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Mid: Straightforward Financial Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. If your company is based in Mid and meets the relevant size conditions, FRS 105 can offer a simpler and more proportionate way to present your financial statements than the fuller standards available to larger businesses. Professional preparation helps ensure your figures are pulled together from the underlying financial records accurately, that the accounts are presented in line with the micro-entity requirements, and that the resulting financial statements are consistent with the information you report elsewhere. It is important to remember that not every small company qualifies for the micro-entities regime automatically, and qualifying is only part of the picture — a company also needs to choose to apply it. Our role is to review your circumstances, confirm how the framework applies to your company, and prepare FRS 105 Micro Entity Accounts that reflect what your business has actually done during the period.

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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.
  
 
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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
  
 
      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: How the UK Micro-Entities Regime Affects Your Company in Mid

In plain terms, FRS 105 is the UK financial reporting standard that sets out how micro-entity financial statements should be prepared. It sits alongside the micro-entities regime, which is a set of legal rules that gives very small companies a lighter accounting and reporting route. Where a company qualifies for that regime and decides to use it, FRS 105 becomes the framework that shapes its accounts — what is included, how items are measured, and how much note disclosure is needed. The aim is proportionality: instead of applying the fuller measurement and disclosure requirements that larger companies follow, a qualifying micro-entity prepares a more streamlined set of financial statements built around a simple historical cost approach. FRS 105 is not an automatic label that attaches itself to every small company, and it is not a tax return. It is an available accounting framework, and it applies when a qualifying company chooses to adopt the micro-entities regime. For directors in Mid running a small trading company, understanding that distinction is the first step towards deciding whether FRS 105 is the right fit.

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. Qualifying is a two-part idea: the company has to fall within the size limits, and it also has to be the kind of company that is not excluded from the regime. 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. It is important to be clear that satisfying those size conditions on its own does not automatically make a company a micro-entity. Other rules and exclusions can apply, for example depending on the company’s activities or structure, and some companies are simply not eligible regardless of their size. If your company is in Mid and you are weighing up FRS 105 Micro Entity Accounts, the sensible approach is to check the full eligibility position for your specific circumstances before deciding which framework to adopt, rather than assuming the thresholds tell the whole story.

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 in Mid

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records — bookkeeping, bank transactions, sales and purchase information, asset purchases, stock, loans and payroll detail — and then applies the measurement and disclosure requirements that are relevant to a micro-entity. The work covers building the financial statements themselves, including the balance sheet and the notes that FRS 105 requires, and presenting them in a format suitable for the company’s filing obligations. It is worth being clear about how the different pieces fit together: the financial statements prepared under FRS 105 are one thing, the filing of accounts with Companies House is a separate administrative step, and the company’s Corporation Tax obligations — reported to HMRC through a Corporation Tax Return (CT600) — are separate again. Figures in the accounts and the tax return are related, but they are not the same document and are not submitted to the same body. We prepare accounts on the basis of the records you provide and the reporting requirements that apply to your company; we cannot guarantee any particular filing outcome, and responsibility for the accuracy and completeness of the information supplied rests with the directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Mid

If your company is based in Mid and you would like to understand whether FRS 105 Micro Entity Accounts could suit your business, the best next step is a straightforward conversation. Tell us a little about your company — what it does, how it is structured, roughly how it has traded over the period, and whether you have prepared accounts before. From there we can talk through how the micro-entities regime applies to your circumstances, what information we would need to see, and how the accounts sit alongside your other filing responsibilities, including your Corporation Tax Return and your Confirmation Statement. Whether you are preparing accounts for the first time, moving across from another framework, or simply want a second opinion on how your financial statements should be presented, we are happy to look at the detail with you. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and find out what is involved.

─── 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 their financial statements should be measured and presented, and it is deliberately simpler than the fuller standards available to larger companies. In practice it means a historical cost approach and a more limited set of note disclosures than you would see under FRS 102, which keeps the accounts proportionate to the size of the business.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. A qualifying company can choose to apply the micro-entities regime, in which case FRS 105 applies to its accounts, or it can prepare its financial statements under FRS 102 Section 1A instead. The choice is the company's, and it is worth thinking about which framework gives the most useful picture of the business before deciding.

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 during the period. Meeting those size conditions is not the whole test, however — other eligibility rules and exclusions can apply depending on what the company does and how it is structured, so the size conditions alone do not guarantee that a company qualifies.

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-entity standard and is the more streamlined of the two, with simpler measurement rules and far fewer disclosure requirements. FRS 102, and in particular Section 1A for small entities, allows for more detailed accounting treatments and requires more extensive notes. A company that expects to grow, or that needs to present more detailed information to lenders or investors, may find FRS 102 more suitable even where FRS 105 is available.

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

Where a company prepares micro-entity accounts, those accounts form the basis of its annual accounts filing with Companies House, and qualifying companies may be able to file a simplified version. The filing is an administrative step that follows the preparation of the financial statements, and the deadline is set by the company's own accounting reference date rather than by the framework used. Filing accounts with Companies House is separate from anything submitted to HMRC.

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

Yes, they are distinct. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime, and they are filed with Companies House. A Corporation Tax Return, usually submitted as a CT600, is a tax filing made to HMRC. The two are linked because the accounts provide the starting point for the tax computation, but tax adjustments, allowances and other reliefs mean the taxable figure will often differ from the accounting profit, and the returns go to different organisations.

What information is needed to prepare FRS 105 accounts?

We normally need a complete record of the period's income and expenditure, bank and credit card statements, sales and purchase invoices, details of any assets bought or sold, stock or work in progress figures, and information about loans, director's loans and payroll. The previous year's accounts are also helpful for comparatives. If your bookkeeping is up to date, the process is usually quicker; if it is not, we can talk through what needs tidying up first.

Are there changes coming to micro-entity accounts filing?

The way accounts are filed at Companies House has been changing, with a move towards filing through software and towards simplified filing options for small and micro-entity companies. Because these arrangements have been introduced in stages, the practical effect depends on your company's accounting period and how you currently file. It is worth checking the current position before you prepare a set of accounts, and we can talk through what the requirements mean for your company in Mid.