─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Presteigne

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK micro-entities which have chosen to apply the micro-entities regime. If your company is based in Presteigne or the surrounding area and you believe the micro-entities regime may suit you, professional preparation can help ensure your accounts are put together appropriately for your company’s own circumstances — its trading activity, its records and the applicable reporting requirements. That means thinking about the disclosure requirements of FRS 105, the format of the balance sheet and the notes, the treatment of items such as directors’ loans or fixed assets, and how the finished FRS 105 financial statements fit alongside your other filing obligations. It also means distinguishing clearly between the accounts themselves and separate matters such as a Corporation Tax Return (CT600) or a Confirmation Statement, which are not part of FRS 105.

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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: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits within the wider micro-entities regime, which is an optional accounting regime available to companies that qualify for it. In simple terms: if a company qualifies as a micro-entity and chooses to use that regime, then FRS 105 is the standard it applies when preparing its annual financial statements. Compared with larger-company reporting, FRS 105 is deliberately streamlined — it allows a simplified balance sheet and profit and loss account and requires far fewer notes, which keeps the accounts shorter and, for many small companies, easier to follow. It is about how the numbers are recognised, measured and presented, not about how much tax a company pays. FRS 105 accounts are separate from a Corporation Tax Return (CT600) submitted to HMRC, and separate again from a Confirmation Statement. Qualifying is not automatic and choosing the regime is a decision for the company, so it is worth checking your position before assuming FRS 105 applies.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is a two-part question: does the company fall within the regime, and does it want to use it? On size, for accounting periods beginning on or after 6 April 2025 a company generally needs 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. Importantly, meeting those size conditions does not automatically mean a company is eligible. Other eligibility rules and exclusions can apply depending on the type of company, its activities or its group structure, and in some cases the tests must be considered over more than one period. That is why it is worth reviewing your company’s specific position rather than assuming the micro-entities regime applies, particularly for a company in Presteigne preparing its FRS 105 Micro Entity Accounts for the first time.

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 well starts with accurate bookkeeping and a clear understanding of your company’s transactions. From there, the accounts are built from your financial records and prepared in line with the applicable reporting requirements for a company applying the micro-entities regime. In practice this involves reviewing the trial balance, checking that income and costs are recorded in the right period, dealing with items such as stock, fixed assets, accruals and directors’ loan accounts, and presenting the balance sheet and profit and loss account in the format FRS 105 expects. The resulting FRS 105 financial statements can then be filed with Companies House where required, while Corporation Tax is handled separately through a CT600 submitted to HMRC — the two are distinct processes with different deadlines and different purposes. If your company also needs a Confirmation Statement, that is a further, separate filing. You get clear, transparent pricing and a straightforward explanation of what has been prepared and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with FRS 105 Micro Entity Accounts for your company in Presteigne, get in touch and tell us about your business. It helps to have a summary of your company’s activities, your latest trial balance or bookkeeping records, details of any fixed assets or directors’ loans, and a note of your accounting period. From that information we can assess your circumstances, confirm whether the micro-entities regime looks like a sensible fit, and explain what is involved in preparing and filing your accounts. If you are unsure whether FRS 105 is right for you, or you simply want a second view, we are happy to talk it through before you commit to anything.

─── 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 micro-entities. It sets out how a qualifying company that has chosen to apply the micro-entities regime should recognise, measure and present the items in its annual financial statements. It is a simplified framework, allowing a shorter balance sheet and profit and loss account and far fewer notes than larger-company reporting standards.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not automatic, and a range of eligibility rules and exclusions sit alongside the size tests. Being small is not by itself enough — the company must actually fall within the regime to be able to apply the standard.

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. Meeting the size conditions does not guarantee eligibility on its own, because other rules and exclusions can apply to certain companies and activities, so the position should be checked for your specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a requirement. A company that qualifies may choose to apply it and prepare FRS 105 accounts, or it may instead prepare accounts under a different framework such as FRS 102. The choice can affect how much detail appears in the accounts, so it is worth considering which option suits the company.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard and is the more streamlined of the two, with simplified presentation and reduced disclosure. FRS 102 is the standard generally used by small and larger entities and involves more detailed recognition, measurement and disclosure requirements. A company that qualifies for the micro-entities regime can choose between the two, subject to the relevant rules.

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

Where a company prepares accounts, filing obligations normally follow, and micro-entity accounts can generally be filed with Companies House in the appropriate format. The exact filing position depends on the company and its circumstances. Filing the accounts is a separate exercise from submitting a Corporation Tax Return (CT600) to HMRC, and separate again from filing a Confirmation Statement.

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 reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate what tax is due. Although the figures in the accounts usually inform the tax return, they are two distinct documents with different purposes, different submission routes and different deadlines.

Can a new limited company use FRS 105?

A newly incorporated limited company may be able to apply the micro-entities regime if it meets the eligibility conditions and chooses to do so — but this is not automatic simply because the company is new or small. In a first accounting period there may be additional considerations, such as whether the period is longer or shorter than a year, so it is worth confirming the position before preparing the accounts.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping records or trial balance for the accounting period, bank statements, details of sales and purchases, payroll information if you employ staff, and supporting documents for items such as fixed assets, stock, loans and accruals. Details of any directors' loan account balances are also helpful. Accurate, complete records make the accounts quicker to prepare and reduce the chance of queries later on.

What changes are coming to micro-entity accounts filing?

Company filing requirements do change from time to time, including around how accounts are submitted and what formats are accepted. The core purpose of FRS 105 as the micro-entities reporting framework remains, but the practical mechanics of filing can shift. Because the detail matters and can depend on your accounting period, it is worth checking the current position for your company before you file rather than relying on older guidance.