─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Newport Pagnell

FRS 105 Micro Entity Accounts give qualifying Newport Pagnell companies a simpler, more streamlined way to prepare and report their annual financial statements. FRS 105 is the financial reporting standard that applies when a company qualifies for the UK micro-entities regime and chooses to apply it, allowing for a shorter balance sheet, more limited disclosure and a set of accounts that reflects the straightforward nature of a small business. Professional preparation helps ensure your figures are pulled together accurately from your records, presented in the correct format and tailored to your company’s own circumstances, rather than relying on a template that may not fit. Whether you are filing for the first time, changing your accounting framework or simply want your year-end numbers handled properly, we can prepare your FRS 105 Micro Entity Accounts and talk you through what each element means.

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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 Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities, and it sits alongside the micro-entities regime rather than replacing it. In simple terms, a company that qualifies for that regime can choose to apply it when preparing its annual accounts, and when that choice is made, FRS 105 is the framework those financial statements are prepared under. The result is a deliberately simplified set of accounts: a condensed balance sheet, a small number of notes and a profit and loss account that does not have to follow the same detailed formats as larger companies. That simplicity is helpful, but it still requires care, because the figures must be complete, consistent with your records and prepared using the correct recognition and measurement rules. Many Newport Pagnell business owners find it reassuring to have someone confirm that the micro-entities regime is the right fit for their company and that their FRS 105 financial statements have been put together properly before they are filed.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it when preparing their annual accounts. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 conditions is the usual starting point, but it is not the whole test. Certain rules and exclusions can prevent a company from using the regime even where the size conditions are satisfied, and some company types are treated differently. It also matters whether the regime has been applied consistently, because the choice generally needs to be made deliberately and applied in line with the relevant requirements. For companies in Newport Pagnell considering FRS 105 Micro Entity Accounts, it is sensible to review eligibility each year, as growth in turnover, a change in balance sheet total, movement in employee numbers or a shift in what the company does can all affect whether the micro-entities regime remains the right fit.

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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your underlying records: bookkeeping, bank transactions, sales and purchase information, payroll details, asset purchases and any stock or work in progress at the year end. From there, the figures are adjusted, reviewed and presented as financial statements that follow the micro-entities reporting requirements applicable to your company. It is worth being clear about the separate strands of compliance, because they are often confused. Filing your FRS 105 accounts with Companies House is one obligation; submitting a Corporation Tax Return (CT600) to HMRC is a separate one, with its own deadlines, computations and tax adjustments. Preparing the accounts does not automatically complete the tax return, and filing the tax return does not satisfy the accounts filing requirement. We handle both areas and keep them aligned, so the profit figure in your accounts and the profit figure in your tax computation can be reconciled sensibly. If your circumstances are unusual or your eligibility is unclear, that is discussed openly and the appropriate reporting framework is considered before anything is finalised.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you run a company in Newport Pagnell and want your year-end accounts prepared with care, the next step is a straightforward conversation. Tell us about your business, your trading year, how your records are kept and what has been filed previously, and we can assess whether the micro-entities regime looks suitable for your circumstances and what your FRS 105 Micro Entity Accounts will involve. Bring along your latest accounts, your bookkeeping or accounting software access, details of any assets bought or sold, and any correspondence from Companies House or HMRC that you are unsure about. From there we can explain clearly what we need, how the accounts will be prepared alongside any Corporation Tax Return or Confirmation Statement requirements, and what the process looks like from start to finish, with clear and transparent pricing agreed before any work begins.

─── 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 annual accounts of a qualifying micro-entity should be prepared, permitting a simplified balance sheet, a shortened profit and loss account and far fewer disclosure notes than the standards used by larger companies. It is a reporting framework, not a tax regime, so it governs how the accounts look and what they contain rather than how much tax is payable.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK rules and that choose to apply the micro-entities regime when preparing their accounts. Qualifying is not automatic and is not determined by the size tests alone, as certain company types and circumstances are excluded from the regime. It is worth confirming your position each year, because a change in turnover, balance sheet total, employee numbers or the nature of the company can affect whether the regime is still available to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that meets the size conditions may choose to apply it, and if it does, FRS 105 is the framework used to prepare the accounts. It is also possible for a qualifying company to decide that a different framework better suits its reporting needs or the expectations of lenders, investors or other users of the accounts. The important point is that the choice should be a deliberate one, made with an understanding of what each framework involves.

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 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 conditions is usually the starting point rather than the whole answer, because other eligibility rules and exclusions can also apply. We review the full picture before confirming whether the micro-entities regime looks appropriate.

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 and produce noticeably different accounts. FRS 105 is the micro-entities standard and is deliberately the most streamlined option, with reduced disclosure and simplified presentation. FRS 102 is a fuller framework used by small, medium and larger entities, and it generally requires more detailed notes, more extensive accounting policies and greater use of fair value and other measurement options. Choosing between them affects how much information appears in your accounts and how much work is involved in preparing them.

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

Yes, where the company is preparing its annual accounts under FRS 105, those accounts form the statutory accounts that are filed at Companies House. The filing requirement applies to the company, and the accounts must be delivered in the required format and within the applicable filing window. Filing the accounts is a separate task from filing a Corporation Tax Return, and completing one does not discharge the other, so both should be diarised and handled in good time.

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

Yes, and this is one of the most common points of confusion. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities reporting framework, while a CT600 is the Corporation Tax Return submitted to HMRC. The tax return includes computations and adjustments that do not appear in the accounts, such as disallowable expenses and capital allowances. Because they serve different purposes, the accounts and the tax return need to be prepared and submitted separately.

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

We normally need your bookkeeping records or accounting software access for the period, bank and credit card statements, sales and purchase records, payroll or salary information, details of any assets bought or sold, stock or work in progress figures at the year end, and any loan or finance agreements. Your previous year's accounts and any correspondence from Companies House or HMRC are also helpful. If your records are incomplete, that is not a barrier to getting started, and we can discuss how to bring them up to date before the accounts are prepared.