─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Munlochy: Simplified Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts are prepared under the micro-entities regime, the simplified financial reporting framework available to UK companies that both qualify as micro-entities and choose to apply that regime. For directors in Munlochy running a small limited company, FRS 105 can mean shorter, more straightforward financial statements with fewer notes and simpler measurement rules than the fuller standards used by larger businesses. Professional preparation helps you apply the framework appropriately to your own circumstances — from how your turnover, balance sheet total and employee numbers are assessed against the applicable size conditions, through to how your records are translated into a compliant set of FRS 105 financial statements and the accounts are filed with Companies House. Importantly, choosing the micro-entities regime is a decision, not an automatic outcome of being small, and it is worth reviewing whether FRS 105 is the right fit for your company’s activities, its lending arrangements and the way its results are reported before the accounts are finalised.

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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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 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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 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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 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 UK Company

FRS 105 is the UK financial reporting standard that sets out how micro-entity accounts should be prepared. It sits alongside the UK micro-entities regime, which is an optional accounting framework created for the smallest companies: a company that qualifies as a micro-entity can choose to apply the regime, and when it does, FRS 105 is the standard that governs its financial statements. In practice, that means simpler recognition and measurement rules, a much reduced set of disclosure notes, and a format built around a small company’s balance sheet and profit and loss account. There are trade-offs — for example, FRS 105 is narrower than FRS 102 and does not offer the same flexibility on certain items, so the choice is not simply about doing the minimum. If you run a limited company in Munlochy and you want to know whether FRS 105 Micro Entity Accounts suit your business, the starting point is confirming that you meet the micro-entity conditions and that none of the exclusions apply, then looking at how the resulting figures will read to banks, landlords, customers and anyone else who relies on your accounts.

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

FRS 105 is intended for UK companies that qualify as micro-entities and that decide to apply the micro-entities regime in their accounts. 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 during the period. Meeting those size tests is a starting point rather than the whole answer, because the rules include further conditions and specific exclusions that can prevent a company from using the regime even when it is small — for example, certain types of entity are outside the micro-entities framework altogether. It is also worth remembering that eligibility does not oblige a company to use FRS 105: qualifying directors can choose the framework that best reflects their reporting needs. If you run a company in Munlochy and you are weighing up whether FRS 105 Micro Entity Accounts are suitable, reviewing your circumstances against the current criteria is the sensible first step.

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 for Munlochy Companies

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records: bookkeeping, bank reconciliations, sales and purchase ledgers, payroll information, stock and asset details, plus any loans, hire purchase agreements or director’s loan movements during the period. Those records are then used to build a set of financial statements under the micro-entities regime, including the balance sheet, the profit and loss account and the limited notes that FRS 105 requires. In our work with companies in Munlochy, the accounts are prepared on the basis of the information supplied and the reporting requirements that apply to the company, with the figures discussed with you so you understand what has been included and why. It is helpful to keep two obligations clearly separate in your mind: preparing and filing annual accounts with Companies House is one process, while Corporation Tax is dealt with separately through a Company Tax Return (CT600) submitted to HMRC, which is calculated from the company’s taxable profits rather than being the same document as the accounts. Clear, transparent pricing and a straightforward process make it easier to keep both sides of your compliance in order.

ICAEW

ACCA

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

If you would like help with FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to have your latest trial balance or bookkeeping records, details of any fixed assets, stock, loans or director’s loan transactions, payroll information for the period, and confirmation of your accounting reference date. We can then look at your turnover, balance sheet total and average employee numbers against the micro-entity conditions, consider whether any exclusions may apply, and discuss whether the micro-entities regime is the right choice for your business. From there we can explain the options available for preparing and filing your accounts and how Corporation Tax fits into the wider picture, so you can make an informed decision before anything is submitted.

─── 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 simplified rules for recognising and measuring items in the financial statements and requires far fewer disclosures than the standards used by larger companies. When a qualifying company chooses the micro-entities regime, FRS 105 is the framework its annual accounts are prepared under.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are available to UK companies that qualify as micro-entities under the applicable size conditions and that choose to apply the micro-entities regime. Qualifying is not the same as being required to use it — the regime is optional. A company also needs to check that none of the exclusions from the regime apply, since certain types of company cannot use it regardless of their size.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that meets the qualifying conditions may either adopt FRS 105 or prepare its accounts under a fuller standard such as FRS 102, depending on what suits its circumstances. The directors' choice should take account of how the accounts will be used and whether the simplified treatment is appropriate.

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: 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 conditions sit alongside other rules and exclusions, so meeting the size tests alone does not automatically guarantee that a company qualifies for the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider UK standard for small and other entities and permits more options, including certain revaluations and fair value treatments, while requiring more extensive notes. FRS 105 is deliberately more restricted: it is built on simpler measurement rules and minimal disclosure, which makes it quicker to prepare but less flexible. If your company's reporting needs have changed, it may be worth revisiting which framework gives the clearer picture.

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

Yes — the annual accounts prepared under FRS 105 are the accounts that are filed with Companies House for the period, in line with the filing requirements that apply to your company. Filing accounts is separate from dealing with Corporation Tax, and the information that goes to Companies House is not the same submission as the one made to HMRC.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared for the members and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which reports the company's taxable profits and is based on the accounts but adjusted for tax rules. Preparing good accounts makes the tax return easier to complete accurately, but they remain separate filings.

Can a new limited company use FRS 105?

A newly incorporated company can prepare its first set of accounts under FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime. It is worth noting that a first accounting period can be longer than twelve months, which can affect how the size conditions are assessed, so eligibility and the reporting dates should be checked carefully rather than assumed.