─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON
FRS 105 Micro Entity Accounts in Newtown: Financial Reporting for Qualifying Micro-Entities
- Simple Fixed Pricing
- Fast Turnaround
- HMRC Compliant
- FRS 105 specialists
FRS 105 Micro-Entity Accounts
- 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.
─── FRS 105 EXPLAINED
FRS 105 Explained: What It Means for Micro-Entity Accounts in Newtown
Who Can Use FRS 105 in the UK? Eligibility for Micro-Entity Accounts in Newtown
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
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 for Micro-Entities in Newtown
Get Help with Your FRS 105 Micro Entity Accounts in Newtown
─── 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.
FRS 105 is the UK financial reporting standard for companies that qualify for and choose to apply the micro-entities regime. It sets out simplified requirements for preparing micro-entity financial statements, including how assets, liabilities, income and expenses are recognised and measured. FRS 105 applies to the accounts, not to Corporation Tax Returns or other separate filings.
FRS 105 is intended for companies that meet the micro-entity eligibility conditions and choose to apply the micro-entities regime. 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. Other eligibility rules and exclusions can apply, so meeting the size conditions alone does not automatically guarantee eligibility.
No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies can choose whether to apply it. If the company chooses the micro-entities regime, FRS 105 applies to its financial statements. If it does not choose that regime, another framework such as FRS 102 may be appropriate, depending on the company's circumstances and reporting needs.
FRS 105 is specifically for qualifying micro-entities that choose the micro-entities regime and provides simplified financial reporting. FRS 102 is a broader UK GAAP framework used by many other companies. FRS 105 generally has simpler recognition and measurement rules, but it also includes restrictions, such as limits on revaluation and fair value accounting. The right framework depends on eligibility, company circumstances and the needs of the people who use the accounts.
Companies that prepare FRS 105 accounts will generally need to file annual accounts with Companies House, subject to the applicable filing requirements and deadlines. This accounts filing is separate from the Corporation Tax Return (CT600) submitted to HMRC, and it is also separate from the Confirmation Statement. Each filing has its own purpose and requirements.
Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime. A CT600 is the Corporation Tax Return submitted to HMRC to report taxable profits and calculate tax. The figures in the accounts often help inform the tax return, but the accounts and the CT600 are separate documents with different purposes and deadlines.
A new limited company may be able to use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime. Eligibility depends on the company's size and other applicable conditions, and a newly incorporated company may still need to assess its position even if it has not yet traded. It is best to check eligibility before preparing the first set of accounts.
To prepare FRS 105 Micro Entity Accounts, we typically need the company's financial records, such as bank statements, sales and purchase records, expense receipts, payroll information where relevant, details of assets and liabilities, and any previous accounts or tax returns. Complete and accurate records help ensure the accounts reflect the company's position and are prepared efficiently. We can discuss the specific information required based on your company's circumstances.