─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Portishead: Simple, Accurate Financial Reporting

FRS 105 Micro Entity Accounts are prepared under the UK micro-entities regime, a financial reporting framework available to companies that qualify and choose to apply it. For companies in Portishead, this often means simpler financial statements with fewer disclosures than larger reporting frameworks, but it still requires careful preparation. Professional support can help ensure your FRS 105 accounts reflect your company’s financial records accurately and are prepared appropriately for its circumstances, including the correct accounting policies and presentation. We can help you understand whether the micro-entities regime is suitable for your company and prepare FRS 105 Micro Entity Accounts that meet the relevant reporting requirements.

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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 
    
 
 
 
   
 
 
       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
  
 
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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.
  
 
      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.
  
 
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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.
  
 
      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: How FRS 105 Micro Entity Accounts Work for Qualifying Companies

FRS 105 is the Financial Reporting Standard that applies when a qualifying company chooses to use the UK micro-entities regime. In simple terms, it is a simplified accounting framework for smaller companies, designed to reduce the amount of detail and disclosure in the financial statements while still reporting the company’s financial position and performance. The micro-entities regime is optional. If your company qualifies and you decide to apply the regime, your accounts are prepared under FRS 105. That usually means a simpler balance sheet and profit and loss account, limited notes, and a more straightforward approach to areas such as financial instruments and deferred tax. It does not mean the accounts are less important. They still need to be accurate, consistent and based on proper records. For a Portishead company, FRS 105 Micro Entity Accounts can reduce the reporting burden, but eligibility and suitability should be checked before you commit.

Who Can Use FRS 105 Micro Entity Accounts in the UK? A Guide for Portishead Companies

FRS 105 Micro Entity Accounts are intended for UK companies that qualify for the micro-entities regime and choose to apply it. 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those size conditions is an important starting point, but it is not the whole picture. Other eligibility rules and exclusions can apply, and some companies cannot use the regime even if they are small. Directors also need to decide whether applying the micro-entities regime is appropriate for their company. FRS 105 applies when that regime is chosen. If you are unsure whether your Portishead company can use FRS 105, we can help you review the position.

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 Micro Entity Accounts for Portishead Companies

Preparing FRS 105 Micro Entity Accounts starts with your company’s financial records and the applicable reporting requirements. We can review your bookkeeping, bank statements, invoices, payroll information and asset details to prepare financial statements that present your company’s position for the period. The accounts are prepared on the basis of FRS 105 where the micro-entities regime has been chosen, and we can explain the key figures and disclosures along the way. It is important to remember that FRS 105 accounts and Corporation Tax are separate: a CT600 is submitted to HMRC, while the financial statements are generally filed with Companies House for companies that are required to file. We can support both areas, but each has its own rules and deadlines. Our role is to prepare accurate financial reporting based on the information you provide and the framework that applies to your company.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Portishead

If you would like help with your FRS 105 Micro Entity Accounts, get in touch to discuss your company’s circumstances. Tell us about your trading activity, accounting period, existing records and any questions you have about eligibility for the micro-entities regime. We can then explain what information we need and how we can prepare your FRS 105 financial statements, making the process clear from the start. Whether you are a new company or an established one, we are here to help you approach your reporting with confidence.

─── 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 for companies that qualify for and choose to apply the micro-entities regime. It provides a simplified set of accounting rules and reduced disclosure requirements compared with larger frameworks. If your company uses the micro-entities regime, its annual financial statements are prepared under FRS 105. It is an accounting framework, not a tax return or a separate filing service.

Who can use FRS 105?

FRS 105 is available to companies that meet the micro-entity eligibility criteria and decide to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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. Other rules and exclusions can apply, so meeting the size tests alone does not automatically mean a company qualifies. Eligibility should be checked for each period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A qualifying company can choose to apply it and prepare FRS 105 Micro Entity Accounts, or it may use another suitable framework such as FRS 102 Section 1A. The right choice depends on the company's circumstances, its reporting needs and the preferences of the directors and shareholders. We can talk through the options with you.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the main size conditions are 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. A company generally needs to meet at least 2 of these 3 conditions, subject to the relevant rules and exclusions. Some companies are excluded from the regime regardless of size, so it is important to review the detailed requirements rather than relying on the figures alone.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simpler framework for qualifying micro-entities. It has fewer disclosure requirements and a more limited accounting model, which can reduce the time and cost of preparing financial statements. FRS 102 is a broader framework used by many small and medium-sized companies, including those applying Section 1A of FRS 102. FRS 102 generally requires more disclosures and includes accounting options that are not available under FRS 105. The right framework depends on eligibility and what the company needs from its accounts.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

If your company is required to file annual accounts with Companies House and you have prepared them under FRS 105, those financial statements are generally filed with Companies House. This is separate from filing a Confirmation Statement, which confirms company details, and separate from Corporation Tax. Filing requirements, deadlines and any exemptions depend on the company's circumstances, so it is worth checking what applies to you. We can prepare the accounts and explain the filing position.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC, and it is calculated using tax rules rather than accounting rules alone. The figures in your accounts often provide a starting point, but the tax return may include adjustments. They are separate submissions with separate deadlines and should not be treated as the same thing.

What information is needed to prepare FRS 105 accounts?

To prepare FRS 105 Micro Entity Accounts, we typically need your company's financial records for the period. That can include bookkeeping records, bank statements, sales and purchase invoices, receipts, payroll information, details of any assets or liabilities, and any previous accounts. If you use accounting software, we may be able to work from reports or a data export. Having clear information helps us prepare accurate financial statements and reduces delays. We will confirm exactly what is needed once we understand your company's circumstances.