─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Newton Abbot

If your company qualifies as a micro-entity and you have chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the UK standard written for qualifying micro-entities, and it allows for simpler, more streamlined financial statements than the standards used by larger companies. Preparing them well means the figures reflect your actual trading activity, the disclosures match the micro-entity requirements, and the accounts are consistent with the records you keep for tax purposes. It is worth being clear that meeting the size tests does not automatically mean FRS 105 is the right or available choice for a company, so the detail matters. Working with someone who prepares FRS 105 Micro Entity Accounts regularly can help you understand what the regime does and does not require, avoid common presentation errors, and keep your accounts clearly separated from your other filing obligations. Whether you are filing for the first time in Newton Abbot or reviewing how your accounts are currently prepared, we can look at your circumstances and help you decide whether FRS 105 is the right framework for your company.

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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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   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: The Micro-Entities Regime in Simple Terms

FRS 105 is a UK financial reporting standard written specifically for micro-entities. It sits alongside the UK’s micro-entities regime, which is an accounting framework made available under company law for companies that fall below certain size limits. When a qualifying company chooses to apply that regime, FRS 105 is the standard it uses to draw up its financial statements. In practice, that means a simpler balance sheet, a simpler profit and loss account, and far fewer notes than you would see in the accounts of a larger business. FRS 105 also takes a straightforward approach to measurement: certain revaluations and fair value adjustments that other standards allow are not used, which keeps the numbers tied closely to cost and to your underlying records. It is important to understand that FRS 105 is not a tax return and does not determine your Corporation Tax — it is the accounting framework for the financial statements, while the tax calculation is a separate exercise. Applying the micro-entities regime also does not follow automatically from being small: a company must both qualify and choose to apply it, and other rules and exclusions can affect that. We explain all of this in plain English for limited companies across Newton Abbot.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the micro-entities regime and choose to apply it. The regime is available under UK company law, and the size conditions are only part of the test. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable 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 thresholds does not, on its own, guarantee that FRS 105 can be used. Other eligibility rules and exclusions apply, and some companies are excluded from the regime regardless of their size. A company must also decide that it wants to apply the micro-entities regime — it is a choice, not a default. For directors in Newton Abbot weighing up the options, the practical question is whether the simplified reporting under FRS 105 suits how you want your accounts presented and what you need them to show, compared with preparing accounts under a different framework. We can review your company’s position and explain the options clearly.

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 is about more than entering numbers into a template. We start from your bookkeeping and financial records, check that the figures are complete and consistent, and build a set of financial statements that follows the micro-entity requirements as they apply to your company. In practice that includes preparing the balance sheet, the profit and loss account and the limited notes that FRS 105 expects, then making sure the accounts are ready for filing with Companies House where the company is required to file. Your Corporation Tax position is a separate matter: the FRS 105 financial statements provide figures that feed into the tax computation, but the CT600 is a distinct filing made to HMRC, and a Confirmation Statement is separate again. Keeping those strands clearly apart helps avoid confusion and last-minute problems. If you are based in Newton Abbot and want your accounts prepared carefully and explained clearly, we can work through your records, flag the questions that matter, and prepare your FRS 105 Micro Entity Accounts on that basis.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts

If you need FRS 105 Micro Entity Accounts prepared for your company in Newton Abbot, the next step is a conversation. Tell us about your business, your accounting period and the records you already keep, and we can look at whether the micro-entities regime is likely to suit your circumstances and what would be involved in preparing your accounts. The more you can share up front — your bookkeeping, bank records, invoices, payroll information and details of any assets, loans or director balances — the more thoroughly we can assess the position before any work begins. We are happy to explain how FRS 105 accounts, your Companies House filing and your Corporation Tax obligations fit together, so you know what is being prepared, why, and when. 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 for micro-entities. It is the standard a company uses when it qualifies for the micro-entities regime and chooses to apply it. It sets out how the financial statements should be prepared, including a simplified balance sheet, a profit and loss account and a limited set of notes. Because it is designed around the smallest companies, it removes many of the accounting options and disclosures found in the standards used by larger businesses.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities under the UK's micro-entities regime and that decide to apply that regime. Qualifying is not automatic, and there are rules and exclusions beyond size — certain types of company are not eligible at all. As a general guide for accounting periods beginning on or after 6 April 2025, a company needs to meet at least 2 of the 3 applicable 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. If you are unsure where your company stands, we can review your circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it, in which case FRS 105 is the applicable standard, or it can prepare its accounts under a different framework such as FRS 102. The choice affects how the accounts are presented and how much disclosure is included, so it is worth thinking about which framework best reflects your company before deciding.

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 number of no more than 10 employees. These are the size tests, and they are not the whole picture. Other eligibility rules and exclusions can apply, and meeting the size conditions does not by itself guarantee that the regime is available or appropriate for your company.

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-entity standard and is the more simplified of the two, with fewer accounting options and fewer disclosures. FRS 102 is used by a much wider range of companies, and smaller companies often use the small entities provisions within it, which permit some accounting choices, such as revaluation, that FRS 105 does not. In broad terms, FRS 105 gives simpler accounts, while FRS 102 gives more flexibility and more disclosure.

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

If your company is required to file annual accounts, then those accounts — prepared under FRS 105 where the micro-entities regime applies — are what you file at Companies House. Filing accounts is a separate obligation from filing a Corporation Tax Return, and separate again from the Confirmation Statement, which confirms your company information rather than reporting your financial results. We can prepare the accounts and explain how the filings fit together, although responsibility for filing on time remains with the company and its directors.

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

Yes. FRS 105 accounts are the financial statements prepared under the micro-entities accounting framework, while the CT600 is the Corporation Tax Return submitted to HMRC. The accounts provide figures that feed into the tax computation, but the tax return is a distinct document with its own requirements and its own submission process. Well-prepared FRS 105 accounts usually make the tax work smoother, but they do not replace the CT600.

What information is needed to prepare FRS 105 accounts?

We normally start with your bookkeeping records for the accounting period, along with bank statements, sales and purchase invoices, payroll information, and details of any assets, loans or director balances. If you have filed accounts before, those are useful for comparison. Anything that explains an unusual transaction or a balance you are unsure about is worth flagging early, because it often saves time later. Once we have the records, we can prepare your FRS 105 Micro Entity Accounts and talk you through the figures.