─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Peebles

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, and they are designed for UK companies that qualify for that regime and choose to apply it. For a Peebles-based limited company, this means preparing and filing a set of accounts that reflects the simpler reporting framework available to qualifying micro-entities, rather than the fuller disclosure requirements that apply under other accounting standards. Because FRS 105 is not automatic and eligibility depends on a company’s size and its individual circumstances, professional preparation can help ensure the accounts are structured appropriately for the company, are consistent with the underlying bookkeeping records, and are presented in a way that matches the framework the company has chosen to adopt. Working with someone who deals with FRS 105 Micro Entity Accounts regularly can make the process clearer, from agreeing the correct accounting treatment through to preparing the figures that support the accounts you file.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 that sits behind the micro-entities regime. Put simply, it is a simplified accounting framework for the smallest companies, allowing qualifying businesses to prepare accounts with less disclosure and a more straightforward presentation than would otherwise be required. The micro-entities regime is an available accounting regime, not something a company is forced into — a qualifying company can choose to apply it, and FRS 105 is the standard that applies once that choice has been made. What this means in practice for a Peebles company is that the accounts focus on the essentials: the balance sheet, the notes required by the framework, and figures drawn from the company’s own records. The accounts still need to be accurate and complete for the framework used, which is why understanding whether the micro-entities regime suits your company matters before the accounts are prepared. If your company does not qualify, or if you would prefer fuller reporting, a different framework such as FRS 102 would be the appropriate route instead.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. Qualifying is about more than size alone, but the size conditions are the natural starting point. 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 conditions does not by itself guarantee eligibility, because additional rules and exclusions can apply depending on what the company does and how it is structured. For companies in Peebles and across the UK, the practical position is that the micro-entities regime is an option open to qualifying companies, and FRS 105 is the framework used once that option is taken. Where a company does not qualify, or prefers not to use the regime, another accounting framework would normally be used instead.

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 properly starts with the company’s financial records — bank transactions, sales and purchase information, expense records and any relevant supporting documentation. From there, the figures are brought together and presented as financial statements in line with the micro-entities framework the company has chosen, including the balance sheet and the disclosures required under FRS 105. It is worth being clear that preparing the accounts and filing them at Companies House is one process, while dealing with Corporation Tax is a separate one that involves a CT600 Corporation Tax Return submitted to HMRC. The two are connected because both draw on the same underlying numbers, but they are distinct obligations with their own requirements and deadlines. A Confirmation Statement is different again. Good preparation therefore means keeping the accounts, the tax position and the company’s other filing duties clearly separated and correctly handled, with the accounts prepared on the basis of the records provided and the reporting requirements that apply to your company.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Peebles

If your company may qualify for the micro-entities regime, or you are simply unsure whether FRS 105 is the right fit, it is worth talking it through before the accounts are due. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and share some background on your company — how it is structured, what it does, and the records you currently hold. That information is what allows your circumstances to be assessed properly and any questions about eligibility, the framework you are using and the records needed to be answered clearly. Whether you are preparing accounts for the first time or moving across from another framework, the starting point is a straightforward conversation about where your company stands.

─── 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 supports the micro-entities regime. It sets out a simplified basis for preparing financial statements, with reduced disclosure requirements compared with fuller standards. It applies to a company when that company qualifies for the micro-entities regime and chooses to apply it.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to use it. Eligibility depends on size conditions as well as other rules and exclusions, so meeting a size test on its own does not automatically mean a company qualifies. Your company's specific circumstances need to be considered before confirming that FRS 105 is appropriate.

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. These are the size tests only — other eligibility rules and exclusions can also apply, and the micro-entities regime remains a choice rather than something a company must adopt.

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 qualifies may instead prepare accounts under a different framework, such as FRS 102. The decision usually comes down to what suits the company and its reporting needs.

What is the difference between FRS 105 and FRS 102?

The main difference is the level of detail and disclosure. FRS 105 is the lighter framework for qualifying micro-entities, while FRS 102 is a fuller standard used by a much wider range of companies, including those that do not qualify for the micro-entities regime or that prefer more detailed reporting. The framework chosen affects how the accounts are presented and what notes are included.

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

Where a company prepares accounts under the micro-entities regime, those accounts form the basis of the statutory accounts that are filed at Companies House. Filing obligations depend on the company's circumstances, so it is worth confirming what applies to your company rather than assuming a single approach fits everyone.

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

Yes. FRS 105 accounts are financial statements prepared under the micro-entities framework, while a CT600 is a Corporation Tax Return submitted separately to HMRC. The two are linked because they draw on the same financial information, but they are distinct filings with their own requirements. A Confirmation Statement is a separate filing again.

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

Typically you would provide your bookkeeping or accounting records, details of income and expenditure, bank and expense information, and any supporting documents relevant to the period. It also helps to confirm the company's structure, whether the micro-entities regime is being applied and any changes during the year. From there, the figures can be brought together into accounts prepared under FRS 105.