─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Perranporth

FRS 105 sets out the financial reporting framework for companies that qualify as micro-entities and choose to apply the UK micro-entities regime. If your company is based in Perranporth and meets the relevant size conditions, FRS 105 Micro Entity Accounts can offer a simpler, more streamlined way to present your financial statements than fuller UK GAAP frameworks, with a shorter balance sheet, limited notes and a straightforward accounting approach. Professional preparation helps ensure your accounts are put together appropriately for your company’s particular circumstances, that the figures agree to your underlying records, and that the resulting financial statements are consistent with the framework you have chosen. Because eligibility depends on more than size alone — and because the micro-entities regime is a choice rather than an automatic entitlement — it is worth reviewing your position before deciding how to prepare and file. We work with directors and owners in Perranporth to prepare FRS 105 Micro Entity Accounts that reflect what the company has actually done during the period, and to keep the accounting and filing process clear from start to finish.

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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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 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: Micro-Entity Reporting for Perranporth Companies

FRS 105 is the UK financial reporting standard that sits alongside the micro-entities regime. In simple terms, it is a simplified accounting framework written for very small companies: instead of the fuller measurement and disclosure requirements found in other standards, FRS 105 allows a company to keep things straightforward, generally using historical cost, recognising fewer fair value adjustments, and providing a much shorter set of notes to the accounts. The important point is that FRS 105 is not something a company is automatically placed into. A company must first qualify as a micro-entity under the applicable size rules, and then the directors must choose to apply the micro-entities regime. Once that choice is made, FRS 105 is the standard that applies to the financial statements. For a business in Perranporth, that might mean a concise balance sheet, a limited number of disclosures, and accounts that are quicker to prepare and easier for readers to follow, while still giving a true and fair view of the company’s position. If you are unsure whether the micro-entities regime suits your company’s plans — for example, if you have investors, group arrangements or more complex transactions — it is worth talking through the alternatives, because FRS 105 Micro Entity Accounts are designed for genuinely simple businesses rather than being the default for every small company.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Two things have to line up: the company must meet the relevant size conditions, and the directors must decide to use the regime rather than a fuller framework. For accounting periods beginning on or after 6 April 2025, the size test generally requires a company 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. Meeting those figures, however, is not the end of the story. There are additional rules and exclusions that can affect whether the micro-entities regime is available, and eligibility can also be affected by the company’s history over consecutive periods, so it should never be assumed simply because the numbers look small. For a company in Perranporth, the sensible approach is to look at your actual figures, your circumstances and any exclusions that might apply before deciding whether FRS 105 Micro Entity Accounts are the right route. If the regime does not fit, we can explain the alternatives and what they would mean for your reporting.

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 accounts well starts with good records. We take the information you hold — bookkeeping, bank and card transactions, sales and purchase documentation, payroll details, loan and lease information, fixed asset records and stock figures — and use it to build a set of FRS 105 financial statements that reflects your company’s transactions for the period. That means a balance sheet prepared under the micro-entities regime, the small number of notes that framework requires, and figures that are internally consistent and traceable back to your records. It also means separating the different jobs that often get bundled together in conversation: the preparation of the financial statements themselves, the filing of annual accounts with Companies House, and the separate Corporation Tax position, which is dealt with through a CT600 submitted to HMRC along with the supporting tax computations. Those are distinct exercises with their own requirements, and one does not automatically take care of the other. Our role is to prepare the accounts accurately and appropriately for the framework you have chosen, explain the basis on which they have been prepared, and help you understand what is being filed and why. We do not claim that any filing will be automatically accepted, and we cannot guarantee a particular outcome, but we can make sure the work is done carefully, on the correct basis, and with clear explanations at each stage.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Perranporth

If your company is based in Perranporth and you would like to know whether FRS 105 Micro Entity Accounts are the right fit, get in touch and we can talk it through. It helps to have a short conversation first: tell us what your company does, what its turnover, balance sheet total and employee numbers look like for the relevant period, whether anything unusual happened during the year, and how you currently keep your records. From there we can consider whether the micro-entities regime is likely to be available to you, explain what the preparation process involves, and set out clear, transparent pricing so you know what to expect before any work begins. Whether you are preparing accounts for the first time, moving across from a different framework, or simply want your existing FRS 105 accounts reviewed and prepared properly, we are happy to help. Send over the details of your circumstances and we will come back to you with a practical 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?

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. It is a simplified framework built for very small companies, generally keeping to historical cost and requiring far fewer notes and disclosures than fuller UK GAAP standards. It is used together with the micro-entities regime: a company first qualifies as a micro-entity, then chooses to apply that regime, and FRS 105 is the standard that governs the financial statements.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and then choose to apply the micro-entities regime. Qualification is based on the size conditions set out in company law, but size is not the only consideration — certain entities are excluded, and other rules can affect whether the regime is available. It is also worth noting that some companies that could use FRS 105 prefer a fuller framework, for example where lenders, investors or group reporting arrangements call for more detail. Being eligible and choosing to apply the regime are two separate steps.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use FRS 105. The regime is optional, and a qualifying company may instead prepare its accounts under another applicable framework, such as FRS 102 including Section 1A. The choice is usually made with the company's circumstances in mind — its size, the complexity of its transactions, and what the people reading the accounts need to see.

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 following 3 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 the size conditions does not automatically mean the regime is available, because additional rules and exclusions can apply, and thresholds can change over time. We review the figures for your specific period before confirming the position.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main UK GAAP standard for most companies, and it covers a much wider range of measurement options and disclosures — for example, certain fair value adjustments and a fuller set of notes. FRS 105 is far more compact: it generally stays with historical cost, strips out a range of accounting choices and reduces the disclosure requirements to a short list. The practical effect is that FRS 105 Micro Entity Accounts are quicker to prepare and simpler to read, but they are also less detailed, which is why they suit straightforward micro-entity businesses rather than companies with more involved reporting needs.

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

Yes — where a company has chosen the micro-entities regime, its annual accounts are still filed with Companies House. Micro-entity accounts benefit from a reduced filing format, which typically means a simpler balance sheet and limited notes rather than the full set of statements. The accounts still need to be prepared on the correct basis and agreed with your underlying records, and the filing needs to be made in the required form and within the applicable timeframe for your company. Filing the accounts is a separate task from your Corporation Tax obligations.

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

Yes, they are distinct. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities accounting framework, and they are generally filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, along with tax computations that usually start from the profit figure in the accounts but then adjust for items that are treated differently for tax. Preparing the accounts does not, on its own, deal with your Corporation Tax filing, so both need to be planned for.

What information is needed to prepare FRS 105 accounts?

We usually ask for your accounting records for the period — bank and card statements, sales and purchase information, payroll details, and any records of loans, leases, fixed assets, stock or amounts owed to and from the company. A copy of the previous year's accounts and the company's registration details help us keep continuity, and it is useful to know about anything unusual that happened during the year, such as a large purchase, a new loan or a change in how the business operates. The clearer the records, the more straightforward the preparation of your FRS 105 Micro Entity Accounts tends to be.