─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Montgomery

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplified UK accounting framework available to companies that qualify as micro-entities and choose to apply it. For a small company in Montgomery, that can mean shorter, more straightforward accounts and a lighter disclosure burden than a fuller reporting framework would require, while still presenting a true and fair view of the business. Professional preparation helps ensure the accounts are built up correctly from your own financial records, that the right framework is applied to your circumstances, and that the figures are consistent with the information you report elsewhere. It also helps you avoid the common pitfalls, such as using a disclosure that does not belong in FRS 105 accounts, or applying the regime when an exclusion means your company should not. If you are unsure whether FRS 105 is the right route for your company, the first step is a straightforward review of your size, structure and reporting history.

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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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 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 that applies when a qualifying company chooses to use the micro-entities regime. In simple terms, it is the most simplified set of accounting rules available for very small companies: the accounts are still real, complete statutory accounts, but they can be prepared on a simpler basis with far less disclosure than you would see under FRS 102. The micro-entities regime is optional — a company that qualifies can decide whether to use it, and FRS 105 applies once that choice is made. Qualifying does not happen automatically, and not every small company will fit the micro-entity definition. 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. Those conditions sit alongside other rules and exclusions, which is why the framework should be confirmed for your own situation rather than assumed. The practical effect is a set of FRS 105 financial statements that are quicker to produce, easier to read, and tailored to the way a micro-entity actually operates.

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

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and then choose to apply it. The regime is designed around size, and 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. Meeting those size conditions is a starting point rather than the whole test — the relevant rules also take account of matters such as the company’s structure, its prior reporting framework and specific exclusions, so a company that looks small on paper is not guaranteed to qualify. Where a company does fall within the regime and decides to use it, FRS 105 applies to the preparation of its financial statements. Where it does not, a fuller framework such as FRS 102 is likely to be the appropriate basis. Because eligibility can shift as a business grows, it is worth reviewing the position each year rather than assuming last year’s answer still holds.

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

Preparing FRS 105 Micro Entity Accounts starts with your bookkeeping, bank records, invoices, receipts, payroll information and any asset or loan details, and turns them into financial statements prepared on the correct basis for a micro-entity. Good preparation means more than adding up figures: it means recognising what belongs in the accounts, applying the FRS 105 measurement and disclosure requirements appropriately, and making sure the balance sheet and profit and loss account tell a coherent story about the year. It also means keeping the different obligations separate. Preparing and filing the accounts at Companies House is one task; dealing with Corporation Tax and submitting a CT600 to HMRC is a separate one, even where the figures overlap. A Confirmation Statement is a further, distinct filing. Keeping these threads clear helps you avoid duplication and misunderstanding. We work from the records you provide, explain what is needed at each stage, and prepare the accounts for your review before anything is filed. No one can promise that a filing will always be accepted without question, but careful, well-documented preparation gives you the best foundation for accurate financial reporting.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Montgomery

If you would like your micro-entity accounts prepared properly and explained in plain English, we are ready to help. Tell us about your company — its trading history, its size over the relevant periods, how it is structured, and whether it has used the micro-entities regime before — and share your financial records, so we can assess whether FRS 105 Micro Entity Accounts are likely to suit your circumstances. We will talk you through what is needed, set out how the accounts will be prepared, and confirm what is required for Companies House filing separately from your Corporation Tax position. There is no obligation and no jargon; just a clear conversation about your options. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 sets out how micro-entity accounts are prepared. It sits at the simplest end of the UK accounting framework, allowing qualifying companies that choose the micro-entities regime to prepare statutory accounts with a reduced set of disclosures and a simpler measurement basis. The accounts must still be prepared properly and give a true and fair view of the company's financial position.

Who can use FRS 105?

FRS 105 is available to companies that fall within 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 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 also apply, so meeting the size conditions on their own does not automatically mean a company qualifies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies can choose to use it and apply FRS 105, or it can prepare its accounts under a fuller framework such as FRS 102. The right choice often depends on the company's structure, its stakeholders — such as lenders or investors — and whether the reduced disclosure of FRS 105 is genuinely appropriate for how the business is used.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 102 is the main standard for most small and medium-sized companies, with more detailed recognition, measurement and disclosure requirements. FRS 105 is the micro-entities standard: it is shorter, permits a more simplified approach, and requires far fewer notes to the accounts. Which one applies depends on whether your company qualifies for the micro-entities regime and chooses to use it.

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

Statutory accounts for a company generally need to be filed with Companies House, and that applies whether they are prepared under FRS 105 or another framework. What changes with FRS 105 is the content and disclosure level, not the existence of a filing requirement. The filing should reflect the accounts you have prepared and approved, so it is worth checking that the version submitted matches the final signed accounts.

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

Yes. FRS 105 accounts are the financial statements prepared under the micro-entities regime, while a CT600 is the Corporation Tax Return submitted to HMRC. They are separate filings with separate requirements, although the figures in the accounts usually form the starting point for the tax computation. Company accounts and Corporation Tax obligations should be tracked separately to avoid confusion over what is due, to whom, and by when.

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 statements, sales and purchase information, payroll or employee details where relevant, and specifics of any assets, loans, director's loans or share capital. It also helps to know whether the company has used the micro-entities regime before, and whether there have been any changes in structure or trading during the year. From there, we can confirm whether FRS 105 is the appropriate basis and prepare the accounts for your review.

Can a new limited company use FRS 105?

A newly incorporated company may well fall within the micro-entities regime, but it is not automatic — the size conditions and the other eligibility rules still have to be considered, along with any exclusions that apply. A first set of accounts also raises practical questions about the accounting period, the treatment of start-up costs and any share capital introduced. It is worth checking the position before assuming FRS 105 will apply.