─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Minehead

FRS 105 Micro Entity Accounts are the streamlined financial statements prepared under the micro-entities regime for UK companies that qualify for it and choose to apply it. For a small company based in Minehead, FRS 105 can mean simpler, shorter accounts that focus on what really matters: an accurate picture of the business, prepared in line with the applicable reporting framework. Professional preparation helps ensure the accounts reflect your actual financial records, that the disclosures suit the micro-entities regime, and that the figures are presented consistently with the way your company reports. Because eligibility depends on your company’s own circumstances — including its size, its legal form and any relevant exclusions — the sensible starting point is a proper review of your position rather than an assumption that FRS 105 automatically applies. We work with Minehead companies to confirm whether the micro-entities regime is the right fit, prepare the FRS 105 Micro Entity Accounts accordingly, and keep the separate Companies House filing and Corporation Tax obligations clearly in view.

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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: The Micro-Entities Reporting Framework

FRS 105 is the financial reporting standard in the UK that sits alongside the micro-entities regime. In plain terms, it is a simplified accounting framework designed for the smallest companies — those that qualify as micro-entities and decide to use that regime. Where a company chooses the micro-entities regime, FRS 105 is the standard that applies to its financial statements. The idea is to reduce complexity: fewer disclosure requirements, a simpler format, and an emphasis on the core financial information that gives a clear view of the company’s position. That said, FRS 105 accounts still need to be prepared properly. The figures have to be built from accurate bookkeeping, the presentation has to follow the requirements of the framework, and the accounts have to be consistent with the company’s circumstances. Choosing the micro-entities regime is a decision, not an automatic outcome, so it is worth understanding what the accounts will and will not show before you commit to it. For directors in Minehead running a small limited company, FRS 105 Micro Entity Accounts can keep reporting straightforward without losing the substance of the numbers.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Two things need to line up: the company must fall within the regime’s eligibility rules, and its directors must actually opt to use it. For accounting periods beginning on or after 6 April 2025, the size conditions 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. A company generally needs to meet at least 2 of these 3 applicable conditions to qualify. However, the size test is not the whole story. There are further rules and exclusions that can affect whether the regime is available, and some companies are excluded regardless of size. That is why meeting the thresholds should never be treated as an automatic green light. If you are a director of a small company in Minehead, the practical approach is to review your figures, your company’s structure and any relevant restrictions together before deciding whether FRS 105 Micro Entity Accounts are the right framework for your next set of financial statements.

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

Good FRS 105 Micro Entity Accounts start with good records. We prepare the financial statements from the information you provide — your bookkeeping, bank transactions, sales and purchase records, payroll data where relevant, and details of any assets and liabilities — and then present them in line with the requirements of the framework that applies to your company. That means working carefully through the figures, applying the correct treatment under the micro-entities regime, and making sure the accounts are internally consistent and clearly laid out for directors and shareholders. It is worth separating out the different obligations here: the preparation of FRS 105 financial statements and the subsequent filing of accounts with Companies House is one process, while Corporation Tax is a separate matter reported to HMRC, usually through a Company Tax Return (CT600). We can support you with the accounts themselves and explain how the figures feed into the wider filing picture, so you know what is due where. What we cannot do is promise a particular outcome — the accuracy and acceptability of the accounts depend on the records and information supplied and on the applicable rules, which is why we take the time to review your circumstances first.

ICAEW

ACCA

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Ready to Talk About Your FRS 105 Micro Entity Accounts in Minehead?

If you run a small company in or around Minehead and want to know whether FRS 105 Micro Entity Accounts are the right route for you, get in touch and let’s work through it. A short conversation about your company’s size, structure and reporting history is usually enough to establish whether the micro-entities regime is likely to be available to you and whether it makes practical sense compared with the alternatives. To assess your circumstances properly, it helps to have details of your turnover, your balance sheet position, your average employee numbers, and a clear picture of your current bookkeeping. From there we can explain the options, outline how the accounts would be prepared, and give you clear, transparent pricing for the work involved. No obligation, no pressure — just straightforward advice on your FRS 105 Micro Entity Accounts.

─── 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 supports the micro-entities regime. It sets out how qualifying micro-entity companies prepare their financial statements when they choose to use that regime. Compared with larger-company standards, it is deliberately simplified, with a lighter set of disclosure requirements and a more compact format, so the accounts stay focused on the core financial information.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not automatically mean a company can use the regime — the specific circumstances need to be checked.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic requirement. A company that qualifies can choose to apply it, but it may instead report under a different framework such as FRS 102. The choice can affect how the accounts look, what is disclosed and how figures are measured, so it is worth considering the implications before deciding which route to take.

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 intentionally the most streamlined, with reduced disclosures. FRS 102 is the standard used more widely, including by small companies that do not qualify for (or choose not to use) the micro-entities regime, and it generally involves more detailed recognition, measurement and disclosure requirements. The right standard depends on eligibility and on what best suits the company.

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

Where a company prepares FRS 105 accounts, those accounts form the basis of the annual accounts that the company files at Companies House, subject to the applicable filing requirements for that company. Filing accounts with Companies House is a separate process from dealing with Corporation Tax. We can help prepare the accounts and explain how they fit into your company's filing obligations, but we cannot guarantee how any filing will be treated by the recipient.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the financial statements prepared under the accounting framework; a CT600 is the Corporation Tax Return submitted to HMRC to report the company's tax position. The accounts often provide the starting point for the tax computations behind the return, but the filing itself is a distinct obligation with its own requirements and deadlines.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. A first accounting period can raise its own questions — for example around the length of the period and how the size conditions are assessed — so it is sensible to look at the company's particular situation rather than assuming the regime applies from incorporation onwards.

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

Typically we would need your bookkeeping records for the period, bank and credit card statements, sales and purchase information, payroll or employment details if you have staff, and a note of any assets, liabilities, loans or directors' transactions. Details of your company structure and previous filings are also useful. The clearer and more complete the records, the more straightforward the preparation process tends to be — and if your records need tidying up first, we can advise on that.