─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Princes Risborough

If you run a small company in Princes Risborough, FRS 105 Micro Entity Accounts may offer a simpler, more proportionate way to prepare and present your financial statements. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to apply the UK micro-entities regime, allowing accounts to be prepared on a streamlined basis with reduced disclosure compared with larger reporting frameworks. Eligibility is not automatic — a company needs to satisfy the applicable size conditions and any other relevant rules and exclusions, and the regime is a choice rather than a requirement. Professional preparation helps you work through that assessment and then build a set of FRS 105 Micro Entity Accounts that reflects your company’s actual circumstances, its financial records and the reporting requirements that apply to it. We work with directors and owners across Princes Risborough and the surrounding area who want their micro-entity accounts prepared clearly, consistently and with the reasoning behind the figures properly thought through.

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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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   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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that a qualifying company can use to prepare its annual accounts when it decides to adopt the micro-entities regime. The idea behind it is proportionality: instead of applying the fuller recognition and disclosure requirements of a larger framework such as FRS 102, a micro-entity prepares simpler financial statements covering the essentials — typically a small balance sheet, a limited profit and loss account and a short set of notes. It is important to understand two separate points. First, a company has to qualify for the micro-entities regime in the first place, based on the applicable size conditions and subject to other rules and exclusions. Second, qualifying does not mean you must use it — the micro-entities regime is an available accounting framework that a company chooses, and FRS 105 is the standard that applies once that choice is made. If you are weighing up whether it suits your Princes Risborough company, the practical questions are usually about what your accounts will look like, what information has to be disclosed, and whether the simplified format still gives you and anyone else reading the accounts what they need.

Who Can Use FRS 105 in the UK? Eligibility for the Micro-Entities Regime

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. 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 across the period. Those are the headline tests, but they sit within a wider set of rules. Other eligibility requirements and exclusions can apply depending on the nature of the company, its activities and its structure, which means that meeting the size conditions alone does not automatically guarantee that the micro-entities regime is available. It is also worth separating qualification from choice: even where a company qualifies, using FRS 105 is a decision rather than an obligation, and a different reporting framework may be more appropriate depending on how the accounts will be used. For directors in Princes Risborough reviewing their options, the sensible approach is to check eligibility against the rules that apply to your specific company and period, then decide whether the simplified micro-entity format gives you the accounts you actually need.

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 and Accurate Financial Reporting

Good FRS 105 Micro Entity Accounts start with good records. We prepare your financial statements from the information your company holds — bookkeeping, bank and transaction records, sales and purchase documentation, payroll details, asset information and any relevant supporting paperwork — and then apply the recognition, measurement and disclosure requirements that go with the micro-entities regime. The emphasis is on accuracy and consistency: figures that agree with your underlying records, disclosures that are appropriate to a micro-entity, and a presentation that matches the format expected for the framework you have chosen. It also helps to keep the different obligations clearly separated. Preparing and filing your FRS 105 Micro Entity Accounts with Companies House is one exercise; your Corporation Tax position is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC, which is not the same thing as the accounts themselves. A Confirmation Statement is a further, separate filing. We can support you across these areas while being clear about which piece of work relates to which requirement, so nothing gets muddled in the run-up to a filing date. No accountant can guarantee an outcome, but careful preparation gives your accounts the best foundation for being filed correctly.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts

If your Princes Risborough company is considering the micro-entities regime, or you simply want your existing FRS 105 Micro Entity Accounts prepared more carefully, get in touch and let’s talk it through. Tell us a little about your business — what it does, how it is structured, roughly how it trades, when your accounting period ends and what records you already keep — and we can assess whether the micro-entities regime looks suitable for your circumstances or whether a different framework is likely to fit better. If you have previous accounts or draft figures, sharing those helps too. From there we can explain the process in plain English, set out what information we will need from you and how the work will be handled, and offer clear, transparent pricing so you know where you stand before anything begins.

─── 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 is the standard a company applies when it qualifies for the micro-entities regime and chooses to use it. It sets out a simplified basis for preparing annual accounts, with reduced recognition, measurement and disclosure requirements compared with the fuller frameworks used by larger companies. In practice, that usually means shorter, more proportionate financial statements.

Who can use FRS 105?

It is available to companies that qualify for the micro-entities regime and then decide to apply it. Qualifying is based on the applicable size conditions, and further eligibility rules and exclusions can apply depending on the company's activities, structure and the framework it is permitted to use. The micro-entities regime is an option, not an obligation, so a qualifying company can choose a different reporting framework if that suits it better.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. FRS 105 applies when the regime is actually chosen. Some companies that qualify still prefer a different framework, for example because of how their accounts are used, the expectations of lenders or investors, or the way group relationships work. The choice should be made deliberately rather than by default.

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. These are the headline size tests, but they are not the whole picture. Other rules and exclusions can affect whether the regime is available — for example, certain company types and activities are treated differently — so meeting the size conditions alone does not automatically mean a company qualifies.

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 a streamlined framework for qualifying micro-entities, with fewer disclosures and a simpler presentation. FRS 102 is a fuller framework used by a much wider range of companies, including small companies that do not use the micro-entities regime, and it involves more detailed recognition, measurement and disclosure requirements. The right starting point is whether your company qualifies for the micro-entities regime and whether the simplified output genuinely suits your circumstances.

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

Yes — where a company is required to file annual accounts, its FRS 105 Micro Entity Accounts form part of that filing to Companies House, and there are specific presentation requirements for micro-entity accounts. Filing the accounts is separate from your Corporation Tax Return (CT600), which goes to HMRC, and separate again from the Confirmation Statement. Keeping track of which document goes where, and when each is due, is one of the routine parts of running a limited company that we can help you stay on top of.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are your financial statements, prepared under the micro-entities regime and filed with Companies House where required. A CT600 is the Corporation Tax Return submitted to HMRC, and it deals with your company's tax position. The figures in the accounts often inform the tax return, but the documents serve different purposes, go to different bodies and are governed by different rules. It helps to treat them as separate pieces of compliance work rather than one combined exercise.

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

Typically we need your company's bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase documentation, payroll and employee information where relevant, details of assets and liabilities, any loan or lease agreements, and the previous year's accounts for comparison. It also helps to know your company's year end, whether anything unusual happened during the period, and whether you have any particular requirements around the accounts. The more complete the records, the smoother the preparation process tends to be.

Can a new limited company use FRS 105?

A newly incorporated company can use the micro-entities regime in its first set of accounts if it meets the applicable size conditions and there is nothing that rules it out. A first-year company generally has little trading history, so the assessment tends to be straightforward, but the eligibility rules still need to be considered rather than assumed. As the business grows, eligibility is reassessed for later periods, since crossing the size thresholds can affect which framework applies.