─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Paignton

If your limited company operates in Paignton and looks like a micro-entity, FRS 105 Micro Entity Accounts may be the most straightforward way to prepare and file your annual financial statements. FRS 105 is the financial reporting framework set out for companies that qualify for, and choose to apply, the UK micro-entities regime. It allows a simpler set of financial statements than larger frameworks, which suits many small, owner-managed businesses. Whether your company qualifies depends on the size conditions for the relevant accounting period, along with the other rules and exclusions that apply, so eligibility is never automatic. Professional preparation helps you work through that assessment, translate your bookkeeping and financial records into a properly structured set of FRS 105 financial statements, and keep your accounts preparation separate from your other filing obligations, such as your Corporation Tax Return (CT600) and Confirmation Statement. The aim is simple: accounts that reflect your company’s circumstances and are prepared in line with the framework you have chosen to 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  
   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. In simple terms, it is the rulebook that tells a qualifying company how to put together its annual accounts — what to include, how to measure things, and what disclosures are required. It sits alongside the UK micro-entities regime, which is an accounting regime a qualifying company can choose to apply rather than something it is forced into. When a company qualifies for that regime and decides to use it, FRS 105 is the standard it applies when preparing its financial statements. The practical effect is a shorter, simpler set of accounts than you would see under a larger framework: the balance sheet and notes are kept lean, and some of the extra disclosure and accounting policy requirements found in fuller frameworks fall away. For a Paignton-based owner-managed company, that can mean accounts that are easier to read, quicker to finalise with good records, and more focused on the numbers that actually matter to you. What FRS 105 does not do is change your tax position or replace your other filings — it is about how your accounts are prepared and reported.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide to apply it. Qualification is assessed against size conditions and the wider rules and exclusions attached to the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. It is important to be clear that meeting those size conditions does not by itself guarantee that the micro-entities regime is available to your company. Other eligibility rules and exclusions can apply, and some companies that are small on the numbers may still not fit the regime. There is also a difference between being able to apply FRS 105 and it being the right choice — the framework produces a simpler set of accounts with fewer disclosures, and some companies need or prefer something fuller. If you run a company in Paignton, the sensible approach is to review your figures and your circumstances for the specific accounting period before deciding, rather than relying on a general rule of thumb.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records. We work from your bookkeeping, bank information, sales and purchase records, payroll details and any other supporting documents to build a set of FRS 105 financial statements that reflects what has actually happened in your company during the period. That means a balance sheet prepared under the framework, together with the notes required for a micro-entity, and figures that tie back to the records you have kept. Just as importantly, the work is structured so that each obligation is dealt with in the right place. Preparing and filing your annual accounts with Companies House is one task; calculating and submitting your Corporation Tax Return (CT600) to HMRC is a separate one, with its own rules and deadlines. Your Confirmation Statement is separate again. Keeping these distinct helps avoid the common mistake of assuming that filing accounts also settles your tax position. Where your circumstances are more involved — for example, if your company is part of a group, has unusual transactions or sits close to a size boundary — the detail matters, and it is worth discussing before the accounts are finalised. The goal is accurate financial reporting that fits your company’s position, prepared on the basis you have chosen to adopt.

ICAEW

ACCA

AAT

Need Help with Your FRS 105 Micro Entity Accounts in Paignton?

If you would like to talk through your FRS 105 Micro Entity Accounts, get in touch and tell us a little about your company. Useful starting points include your company’s year end, an idea of your turnover, balance sheet total and average employee numbers for the period, and how your records are currently kept — whether that is software, spreadsheets or a shoebox of paperwork. From there we can look at whether the micro-entities regime may be available to you, whether it suits your circumstances, and what is involved in preparing your FRS 105 financial statements. We can also make clear how your accounts preparation sits alongside your Corporation Tax Return and Companies House filing responsibilities, so nothing is left ambiguous. Clear, transparent pricing is available, including fixed-fee options, and there is no obligation to proceed. Whether you are filing for the first time or want a straightforward review of how your accounts are currently prepared, a short conversation is usually the quickest way to get clarity.

─── 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 a qualifying micro-entity prepares its annual accounts, including the format of the balance sheet and the limited notes that are required. It is a deliberately simplified framework compared with larger reporting standards, which is why it appeals to many small, owner-managed companies in Paignton and elsewhere in the UK.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is not just a matter of being small in the everyday sense — there are specific size conditions plus other rules and exclusions that can affect whether the regime is available and whether it is appropriate. Meeting the size conditions does not automatically guarantee eligibility, so it is worth checking your position against the applicable rules for the period in question.

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. Those are the headline size tests, but they sit within a wider set of rules and exclusions. Certain types of company and certain circumstances can affect whether the micro-entities regime is open to you, so the size conditions alone should not be treated as the whole picture.

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 qualifies may choose to apply it and prepare accounts under FRS 105, but it is not obliged to do so, and some companies prefer a fuller framework for reasons of their own — for example, if they need certain disclosures, have lenders or investors with particular expectations, or anticipate growing beyond the size conditions. It is a decision worth making deliberately rather than by default.

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 produces a shorter set of financial statements with fewer disclosures. FRS 102 is the standard used more broadly, including by small companies under Section 1A, and it generally requires more disclosure and more detailed accounting around certain items. Moving from one framework to the other can change how your accounts look and what is included, so the choice should reflect the company's actual circumstances.

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

Accounts prepared under FRS 105 still form part of your company's annual accounts, and those accounts are filed with Companies House in the usual way for a limited company. Filing accounts is a separate exercise from your Corporation Tax Return (CT600), which goes to HMRC, and from your Confirmation Statement. Each has its own content requirements and its own deadlines. Preparing FRS 105 financial statements and filing them does not, by itself, deal with your tax position.

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

Yes, they are different things. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities reporting framework. A CT600 is the Corporation Tax Return submitted to HMRC, which is built on the company's taxable profits rather than simply on the reported accounting figures. The accounts often provide a starting point for the tax computation, but adjustments may be needed. Treating them as one and the same is one of the more common misunderstandings around micro-entity accounts.

Can a new limited company use FRS 105?

A newly incorporated company can be eligible for the micro-entities regime if it meets the relevant conditions, though the position in the first period may need particular attention — for example, where the first accounting period is longer or shorter than twelve months, or where trading had not yet begun. Because eligibility depends on the rules that apply to your specific period rather than on how long you have been trading, it is worth checking rather than assuming. We can look at your first set of accounts with you and confirm the basis that fits.