─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Paisley

FRS 105 Micro Entity Accounts give qualifying Paisley companies a simpler, more streamlined way to report their financial position. FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime: where a company qualifies for the regime and chooses to apply it, FRS 105 provides the framework for the annual financial statements. That typically means a shorter balance sheet, a simpler profit and loss account, reduced disclosure and a reporting style built around the needs of genuinely small businesses rather than larger, more complex entities. Because eligibility is not automatic, professional preparation starts with reviewing your company’s circumstances — turnover, balance sheet total, employee numbers, the nature of your activities and any rules or exclusions that may affect you — before the accounts are prepared from your financial records. The aim is a set of FRS 105 accounts that reflects what your business has actually done in the period, is prepared on a consistent basis and supports the filings your company needs to make.

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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: What the Micro-Entities Regime Means for Your Company

In plain terms, FRS 105 is the reporting standard that applies when a UK company uses the micro-entities regime — the lightest-touch accounting option available under UK company law. If your company qualifies for that regime and you choose to apply it, FRS 105 sets out how the financial statements should be put together. The result is usually a much shorter set of accounts than you would see under a larger reporting framework: a simple balance sheet, a simple profit and loss account, and far less by way of notes and detailed disclosure. It is designed around owner-managed and very small companies whose activities are straightforward, so it deliberately strips out much of the complexity that larger reporting standards require. Two points matter here. First, FRS 105 is a choice available to qualifying companies, not something that is imposed on every small business — and a company can also meet the micro-entity size test and still be excluded from the regime for other reasons. Second, the micro-entities regime is an accounting and financial reporting matter. It sits alongside, but is separate from, your company’s Corporation Tax position and from its other filing obligations, which is why many Paisley directors look at all of these together before deciding how to proceed.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and choose to apply it. Two elements have to line up: your company must meet the regime’s size conditions, and it must not be caught by any of the exclusions that rule certain companies out regardless of how small they are. On the size test, 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. Periods beginning before that date were measured against different thresholds, so older accounting periods should be checked on their own terms. Meeting the size conditions is necessary but not sufficient on its own — other eligibility rules and exclusions apply, and some entities cannot use the micro-entities regime even when their figures fall well within the limits. For companies in Paisley, the practical answer is to look at the specific accounting period in question, confirm the correct thresholds apply to it, and then confirm nothing else excludes the company before the accounts are prepared on an FRS 105 basis.

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 for Paisley Companies

Preparing FRS 105 Micro Entity Accounts well comes down to two things: starting from accurate and complete financial records, and applying the reporting requirements that actually relate to your company. We begin by working through your bookkeeping, bank records, invoices, expense information and any asset or liability details, so that the figures in the financial statements can be traced back to something real rather than assumption. From there, the accounts are built on the FRS 105 basis, which typically means a simplified balance sheet, a simplified profit and loss account and the reduced disclosure that the framework allows, presented in a format suitable for the company and for filing with Companies House. It is worth separating out what you are dealing with here. The financial statements are one output; filing them at Companies House is a separate administrative step; and a Corporation Tax Return (CT600), which is submitted to HMRC, is a different filing again with its own figures and its own deadlines. We can help you understand how these fit together for your Paisley business, so you know what is being prepared, what is being filed and where, and what information you still need to provide. You remain responsible for the accuracy of the underlying records, and final sign-off of the accounts rests with you as a director.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts

If your Paisley company is considering the micro-entities regime — or you simply want to know whether FRS 105 is a sensible fit for how your business trades — it is worth a conversation. Tell us about your company: what it does, how it is structured, the period you need accounts for, and where your records currently sit. From there we can look at whether the micro-entity conditions appear to be met, explain what FRS 105 would mean for the shape of your financial statements, and set out the information we would need to prepare them. We can also talk you through how the accounts, your Companies House filing and your Corporation Tax Return relate to one another, so nothing gets missed. Get in touch with our team to discuss your FRS 105 Micro Entity Accounts requirements in Paisley, and we will help you work out the next step.

─── 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 and what does it cover?

FRS 105 is the UK financial reporting standard that supports the micro-entities regime. It sets out how the annual financial statements should be prepared when a qualifying company chooses to apply that regime. In practice it allows a simplified balance sheet, a simplified profit and loss account and significantly reduced disclosure compared with larger reporting frameworks, reflecting the fact that it is aimed at very small, relatively straightforward businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualifying is not just a matter of size: certain companies are excluded from the regime regardless of their figures, and other eligibility rules may apply. That is why it is worth checking your company's specific position rather than assuming that being small automatically means FRS 105 is available.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, and FRS 105 applies when a qualifying company chooses to use it. A company that meets the size conditions may still decide to prepare its accounts under a different framework, and some companies that look small on the numbers may not qualify for the regime at all. The decision is usually made at the point the accounts are prepared, taking the company's circumstances into account.

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. Meeting those size conditions is not the whole story — other rules and exclusions can affect whether the regime is available, and periods beginning before 6 April 2025 were assessed against different thresholds.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes and types of company. FRS 105 applies to qualifying micro-entities using the micro-entities regime and is deliberately the simplest option available, with limited disclosure. FRS 102 is a fuller framework used by a much wider range of companies, including small companies that do not use the micro-entities regime, and it requires considerably more detail in the accounts — for example around accounting policies, estimates and notes.

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

Yes — where a company prepares annual accounts, those accounts normally need to be filed at Companies House, and FRS 105 accounts are no exception. Filing the accounts is a separate step from preparing them, and it is also separate from your Corporation Tax filing. The accounts you file need to be presented in the correct format for a micro-entity and must be consistent with your company's records.

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

Yes, they are two different things. FRS 105 accounts are the company's financial statements, prepared under the micro-entities reporting framework and normally filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with the company's tax position for the period. The two are related in the sense that they should tell a consistent story, but they are prepared for different purposes and go to different places.

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

As a starting point, we would usually need your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, details of any assets or liabilities such as equipment, stock, loans or directors' loans, payroll information if you employ staff, and the previous year's accounts for comparison. It also helps to know about anything unusual that happened in the period — a significant purchase, a change in activity, or a transaction that needs thinking through — so it can be treated properly in the accounts.