─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Porth

FRS 105 Micro Entity Accounts in Porth are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the UK micro-entities regime. FRS 105 is not a tick-box exercise, and it is not automatically available to every small company — a company must first meet the applicable size conditions and satisfy the relevant eligibility rules and exclusions before the micro-entities regime can be used. Once that regime is chosen, FRS 105 sets out how the financial statements should be drawn up, including the simplified measurement and disclosure requirements that many owner-managed businesses in Porth find practical. Professional preparation helps ensure your FRS 105 accounts are put together properly for your company’s own circumstances, with figures grounded in your bookkeeping records, accounting policies applied consistently, and the resulting financial statements presented in a form suitable for filing at Companies House. It also gives you a chance to step back and review the numbers with someone who understands the framework, rather than simply submitting whatever the software produces.

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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  
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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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 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

In plain terms, FRS 105 is the UK accounting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is a set of rules that allows qualifying companies to prepare simpler financial statements than they would under a fuller framework such as FRS 102. Choosing the micro-entities regime is a decision, not an obligation — a qualifying company can use it, or it can prepare accounts under a different standard instead. Where the regime is chosen, FRS 105 is the standard that applies, and the accounts are then prepared on that basis. Practically, this usually means a more streamlined balance sheet and profit and loss account, fewer notes, and simpler measurement of items, with historical cost generally forming the starting point. For a small owner-managed business in Porth, the attraction is straightforward: financial statements that reflect the reality of the company without unnecessary complexity, while still meeting the reporting requirements that apply to the regime. What FRS 105 does not do is change your tax position or remove the need for other filings — it is about how the financial statements are prepared and presented.

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. Qualification is determined by size and by the rules surrounding the regime, and both need to be considered together. 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. Meeting two of those conditions is a starting point rather than a guarantee, because other eligibility rules and exclusions can apply — certain companies are excluded from the micro-entities regime irrespective of their size, and the conditions are assessed in line with the relevant rules rather than in isolation. On top of that, using the regime is optional: a qualifying company may still decide that another framework better reflects its circumstances. For a business in Porth, the practical answer is that eligibility should be reviewed against your own figures, structure and reporting needs before FRS 105 Micro Entity Accounts are prepared.

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 Reporting

Preparing FRS 105 Micro Entity Accounts in Porth starts with your financial records: sales and purchase information, bank and cash transactions, payroll data, asset purchases, loans, stock where relevant, and any other items that affect the company’s position. From there, the accounts are built up in line with the requirements of the micro-entities regime and FRS 105, with the balance sheet, profit and loss account and supporting disclosures presented in the expected format. Accuracy matters because these figures are the company’s published financial statements, and they need to be consistent with the underlying records and with the accounting policies adopted. It is worth being clear about what sits where: the preparation of the financial statements and the filing of those accounts at Companies House is one piece of work, while the Corporation Tax Return (CT600) submitted to HMRC is a separate filing with its own calculations, deadlines and information requirements. Similarly, a Confirmation Statement is a distinct Companies House filing and is not part of the accounts. Our role is to prepare your FRS 105 accounts carefully and to explain the basis on which they have been drawn up, so you understand what has been submitted and why.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Porth

If you would like your FRS 105 Micro Entity Accounts prepared properly for your company’s circumstances, get in touch to talk through your requirements. Tell us about your business, your accounting period, the records you hold, and what you are currently doing about your Companies House filings and your Corporation Tax obligations. From there, we can look at whether the micro-entities regime appears relevant to you, explain what information we would need to prepare the accounts, and set out clear, transparent pricing for the work involved. There is no need to wait until a filing date is close — the earlier the records are in front of us, the easier it is to resolve queries and produce financial statements that genuinely reflect your company’s position.

─── 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 financial reporting standard in the UK that applies to companies using the micro-entities regime. It sets out how the financial statements of a qualifying micro-entity should be prepared and presented when that regime is chosen, including the measurement basis for items in the accounts and the limited disclosures that are required. It is deliberately simpler than the standards used by larger companies, which is why it is popular with owner-managed businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualifying is about more than simply being small: a company generally needs to meet at least 2 of the 3 applicable size conditions — turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees — for accounting periods beginning on or after 6 April 2025, and other eligibility rules and exclusions can also apply. Certain types of company are excluded from the regime regardless of size, so eligibility should always be checked against your own circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it and prepare FRS 105 accounts, or it can prepare its financial statements under a different framework. The choice can affect how the accounts look and what disclosures are included, so it is worth considering which framework best suits the company, its lenders, its investors and anyone else who relies on the figures.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different situations. FRS 105 is the micro-entities standard and is built around simpler measurement and much reduced disclosure. FRS 102 is a broader standard used by many small and medium-sized companies and includes more detailed recognition, measurement and disclosure requirements — for example, in areas such as financial instruments, provisions and deferred tax. The framework a company uses affects the numbers reported and the notes that accompany them.

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

Where a company prepares its financial statements under the micro-entities regime, those accounts typically form the basis of the accounts it files at Companies House, subject to the filing requirements that apply to that company. Filing the accounts is separate from dealing with HMRC, and separate again from a Confirmation Statement, which is its own Companies House filing and does not contain the financial statements. It is important to keep track of each obligation individually.

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

Yes. FRS 105 accounts are the company's financial statements prepared under the micro-entities framework, while the CT600 is the Corporation Tax Return submitted to HMRC. The two are connected in the sense that the accounts inform the tax computation, but they are distinct documents with different purposes and different submission routes. Preparing FRS 105 accounts does not itself satisfy the Corporation Tax filing obligation.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it, but eligibility still depends on the applicable size conditions and the rules and exclusions that apply to the company's situation. A first accounting period can be a good time to think about the framework you want to use going forward, since the choice may influence how you keep records and what information you gather during the year.

What information is needed to prepare FRS 105 accounts?

In most cases we would ask for your bookkeeping records for the period, bank and cash statements, sales and purchase information, payroll details, records of any assets bought or sold, details of loans or director's balances, stock or work in progress figures where relevant, and confirmation of the accounting period being reported on. The more complete and up-to-date the records are, the more straightforward the preparation tends to be. If your records are incomplete, we can discuss what is needed to bring them to a position where the accounts can be prepared reliably.