─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Pontesbury

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and our work on FRS 105 Micro Entity Accounts in Pontesbury is built around exactly that framework. If your company is considering the micro-entities regime, the accounts need to reflect your actual transactions and balances, apply the recognition and measurement rules that come with FRS 105, and be presented in a way that is appropriate to your company’s circumstances — including the disclosures, or limited disclosures, that FRS 105 permits. Professional preparation helps because it brings a consistent process to that work: we start from your financial records, identify anything that needs clarifying or adjusting, and prepare the financial statements so that they are internally consistent and ready for the next stage, whether that is approval by the directors and shareholders or filing at Companies House. Not every small company qualifies for the micro-entities regime, and choosing it is a decision rather than an automatic default, so part of the process is confirming whether FRS 105 is genuinely the right fit for your company before the accounts are prepared.

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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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that sets out how a qualifying company prepares its annual financial statements when it chooses to apply the micro-entities regime — a regime that exists to reduce the reporting burden on the smallest companies. FRS 105 sits alongside the UK’s other reporting standards, most notably FRS 102, but it is deliberately simpler: it is built around a smaller set of accounting requirements and allows a more streamlined set of financial statements. The important point is the order of events. A company first has to fall within the micro-entities regime under the applicable eligibility rules, and then it has the option to actually apply that regime. FRS 105 is the standard that applies when that choice is made. So FRS 105 and the micro-entities regime are linked but not identical ideas: the regime determines who may use this approach, and FRS 105 determines how the financial statements are then prepared. For a director of a small company in Pontesbury, the practical outcome is a shorter profit and loss account and balance sheet, together with the notes that FRS 105 requires, rather than the fuller disclosure package that larger reporting frameworks demand.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that both qualify for the micro-entities regime and choose to apply it — qualification and election are two distinct steps, and both matter. On the size side, 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 during the period. Those figures give you the shape of the test, but they are not the whole test. Other eligibility rules and exclusions apply, and certain companies are treated differently or left outside the regime altogether, so meeting the size thresholds on their own does not automatically mean a company is eligible — nor does eligibility mean a company must use FRS 105. This is why we look at the specifics of each company, including its structure, its activities and its history, before confirming whether the micro-entities regime is available and whether choosing it makes sense. For directors in Pontesbury running a small limited company, that assessment is usually quick, but it is worth doing properly.

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 is a technical exercise, and the quality of the output depends heavily on the quality of the information going in. We work from your financial records — bookkeeping, bank and ledger information, invoices, expense records, asset details and the like — and prepare the financial statements in line with the applicable reporting requirements for the micro-entities regime. That includes building the balance sheet and profit and loss account in the format FRS 105 sets out, and including the notes that the standard requires for your company’s circumstances. It is worth being clear about what sits where, because these are genuinely separate jobs. The financial statements are prepared under FRS 105 and, where required, filed at Companies House. Corporation Tax is a different matter entirely: a CT600 is a separate return submitted to HMRC, prepared under tax rules rather than accounting rules, and it can require adjustments that do not appear in the accounts themselves. A Confirmation Statement is separate again. Our role is to prepare accurate, consistent accounts based on your records and the framework that applies to you, and to make sure you understand which document goes to which body and why — without overstating what any single filing does.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Pontesbury

If you are weighing up the micro-entities regime, or you already know that FRS 105 Micro Entity Accounts are the right route for your company, the next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, when your accounting period runs, and how your records are currently kept — and share the information we need to assess your circumstances properly, such as your latest trial balance or bookkeeping, details of any assets or liabilities, and anything unusual that happened during the period. From there we can explain whether FRS 105 looks suitable for your situation, what the preparation process involves, and what we would need from you to get started. There is no obligation, and no assumptions: we would rather look at the facts first and give you a clear, honest view than promise something the framework does not allow.

─── 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 the recognition, measurement and presentation requirements for the financial statements of qualifying micro-entities, and it is deliberately less detailed than standards such as FRS 102. If your company is eligible for the micro-entities regime and chooses to apply it, FRS 105 is the framework you use to prepare the annual accounts.

Is FRS 105 compulsory for every micro-entity?

No. FRS 105 is not imposed automatically on every small company. A company must first fall within the micro-entities regime under the applicable eligibility rules, and then it has the option to apply that regime. Where the company chooses to do so, FRS 105 applies to the preparation of its financial statements. Some qualifying companies may instead use a different reporting framework, so the choice matters and is worth thinking through rather than assuming.

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 during the period. Meeting those size conditions is the starting point rather than the whole answer, because other rules and exclusions can affect whether a company is eligible for the micro-entities regime. We would check your specific position before any accounts are prepared.

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 102 is the main standard used by a much wider range of businesses and carries fuller recognition, measurement and disclosure requirements, including options such as fair value accounting in certain circumstances. FRS 105 is a simplified framework for micro-entities, with fewer accounting policy choices and a lighter set of financial statements and notes. The practical difference for a director is usually the length and complexity of the accounts, and how much supporting disclosure is required.

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

Where a company is required to file annual accounts, those accounts are delivered to Companies House, and that applies whether they are prepared under FRS 105 or another framework. Filing the accounts is one obligation; the standard you prepare them under is a separate question. It is also worth separating this from Corporation Tax, which is dealt with through HMRC rather than Companies House. We can help you keep track of which document is due where.

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

Yes, they are separate documents with separate purposes. FRS 105 accounts are financial statements prepared under the accounting framework and, where required, filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC and is prepared under tax rules, which can mean adjustments that do not appear in the accounts at all — for example, disallowable expenditure or capital allowances. The figures in the two documents often look similar, but they are not the same thing, and one does not replace the other.

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

In most cases we would ask for your bookkeeping or accounting records for the period, bank and ledger information, details of sales and expenses, information on any fixed assets and how they were acquired, and records of debtors, creditors, loans and directors' balances. Your latest signed accounts and anything unusual during the period — a new loan, an asset purchase, a change in share capital — are also helpful. The more complete the records, the more straightforward the preparation tends to be, and we can tell you exactly what is needed once we understand your company.

What changes are coming to micro-entity accounts filing?

Company filing requirements do evolve, and there has been ongoing discussion about how small and micro-entity accounts are filed, including moves towards filing accounts in a digital, tagged format. Because the detail and timing of changes can affect what you submit and how, it is worth checking the current position for your own accounting period rather than relying on older guidance. We keep an eye on these developments so that the FRS 105 Micro Entity Accounts we prepare for Pontesbury companies reflect the framework as it stands when the accounts are actually prepared.