─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Montrose

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplified UK reporting framework available to companies that qualify as micro-entities and choose to apply it. For a small company in Montrose, that choice affects how the profit and loss account, balance sheet and notes are put together, so it is worth understanding before the year-end figures are finalised. Professional preparation of FRS 105 Micro Entity Accounts means your records are reviewed, the figures are organised into a set of financial statements that reflects your company’s circumstances, and the disclosures are kept to those the framework requires. It also means the accounts are considered alongside your other obligations, such as filing with Companies House, without those separate duties being overlooked. Because eligibility depends on your company’s size and on certain rules and exclusions, the starting point is always a proper look at your individual position rather than an assumption that FRS 105 will apply.

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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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 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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 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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 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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 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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 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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─── 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. It sits alongside the micro-entities regime, which is a simplified accounting framework that qualifying companies may choose to adopt instead of a fuller reporting standard. In plain terms, if your company qualifies as a micro-entity and you decide to use that regime, then FRS 105 is the standard your accounts are prepared under. The practical effect is a shorter, simpler set of financial statements: a pared-back profit and loss account, a balance sheet, and a limited set of notes, with fewer of the estimates and fair value adjustments that larger reporting frameworks call for. That simplicity is the point — it reduces the reporting burden for very small companies without removing the need for accurate bookkeeping and honest figures. Choosing the regime is a decision, not an automatic outcome, and it needs to suit how your company is structured and what its readers — lenders, investors or others — expect to see. FRS 105 Micro Entity Accounts in Montrose are prepared on exactly this basis: straightforward statements that meet the requirements of the regime your company has chosen.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. Both parts matter: the company has to fall within the regime, and the directors have to decide that using it is the right approach. 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. Meeting those size conditions on its own does not guarantee eligibility, because other rules and exclusions can affect whether the regime is available, and certain companies are not permitted to use it regardless of size. There are also practical considerations beyond eligibility: whether the simplified reporting gives readers of the accounts what they need, and whether a fuller framework would be more suitable. For a company in Montrose weighing this up, the sensible approach is to review the current position against the rules, confirm whether the micro-entities regime is available, and then decide whether FRS 105 Micro Entity Accounts are the right choice for the year.

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.

Accurate, Professionally Prepared FRS 105 Accounts

Preparing FRS 105 Micro Entity Accounts starts with your underlying records — bank statements, sales and purchase information, payroll details, expenses, asset purchases and any loans or director balances. From those, the figures are brought together into a profit and loss account and balance sheet prepared in line with FRS 105 and the disclosure requirements that apply to the micro-entities regime. This is a financial reporting exercise, and it is deliberately kept separate from your Corporation Tax position: the accounts are the company’s financial statements, while a Corporation Tax Return (CT600) is a distinct filing submitted to HMRC, and the two are prepared for different purposes and different recipients. Similarly, filing accounts with Companies House is its own obligation, separate again from your Confirmation Statement and other company filings. Working with an experienced preparer helps ensure the accounts are built from complete records, that the framework chosen is appropriate for your company, and that the numbers are presented consistently from one year to the next. No preparer can guarantee a particular outcome or regulator response, but careful, methodical preparation gives you financial statements that stand up to scrutiny and genuinely reflect your company’s position.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Montrose

If your company may qualify for the micro-entities regime, or you simply want to know whether FRS 105 is the right fit, get in touch to talk through your FRS 105 Micro Entity Accounts requirements. A short conversation about your company’s size, structure, trading activity and reporting history is usually enough to establish where you stand and what needs to happen next. Bring along your latest records, details of any assets or loans, and your previous year’s accounts if you have them, and we can assess your circumstances properly and explain the options in plain English. Whether you are preparing a first set of accounts, switching framework, or simply want the year-end handled accurately, we are happy to help you decide on the most sensible way forward.

─── 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 financial statements should be prepared for companies that qualify as micro-entities and choose to apply that regime. In practice it produces a simpler set of accounts, with a reduced profit and loss account format, a balance sheet, and far fewer notes than a fuller reporting framework would require.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not automatically mean you must use FRS 105. The regime is an option that a qualifying company can choose to adopt, and FRS 105 applies when that choice is made. Some companies that could use it decide to report under a fuller standard instead, often because of what lenders, investors or group companies expect to see. It is a decision to be made deliberately, taking your circumstances into account.

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 3 applicable size conditions to qualify: 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 the size conditions is not the whole picture, though — other eligibility rules and exclusions can apply, so the only reliable way to confirm your position is to review your company's specific circumstances. We can help you work through that.

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 the most simplified option, with restricted formats and minimal disclosure. FRS 102 is a fuller standard used by a much wider range of companies and typically involves more detailed accounting treatments, more judgements and more extensive notes. Choosing between them is largely a question of whether your company qualifies for the micro-entities regime and whether the simpler reporting is suitable for your stakeholders.

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

The accounts themselves are part of your company's annual filing obligations, so the financial statements prepared for the year generally need to be delivered to Companies House. It is worth being clear that this is separate from your Corporation Tax Return (CT600), which goes to HMRC, and from your Confirmation Statement, which is a different filing again. We keep these obligations distinct so nothing is missed and each filing is prepared for its own purpose.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but eligibility is not automatic just because the company is new or small. In the first period there is no prior-year history to compare against, so the assessment is based on what the company expects and on the rules that apply to it, including any exclusions. It is worth discussing the position before your first set of accounts is prepared, as the framework you start with shapes how the figures are presented from day one.

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

Typically we would ask for your bank statements and reconciliations, sales and purchase records, payroll information, details of expenses, any asset purchases or disposals, and information on loans, director balances and share capital. If you have a previous set of accounts, that helps with consistency. The more complete and up-to-date your records are, the more straightforward the preparation tends to be — but we can talk you through what is needed if you are unsure.

How do FRS 105 Micro Entity Accounts differ from a Corporation Tax Return?

They serve different purposes and go to different places. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and generally filed at Companies House. A Corporation Tax Return (CT600) is a tax filing submitted to HMRC, based on the company's taxable profits but calculated under tax rules rather than accounting ones. The figures often start from the same records, but the two documents are not interchangeable and each has its own deadlines and requirements.