─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Queensferry

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime for companies that qualify for it and choose to apply it. In Queensferry, many smaller limited companies find that FRS 105 offers a simpler, more streamlined reporting framework than the larger standards, because it is designed around the needs of genuinely small businesses and their stakeholders. Working with an experienced preparer can help you confirm whether the regime is appropriate for your company, gather the records needed, and present the figures in a way that reflects your circumstances rather than a generic template. Professional preparation also helps ensure the accounts are consistent with the underlying bookkeeping, the disclosures required under FRS 105 are handled sensibly, and the separate filing and tax obligations that follow are clearly understood before anything is submitted.

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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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   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.
  
 
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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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits within the broader micro-entities regime, which is an available accounting framework rather than something every small company must use — a company needs to qualify for it and then choose to apply it, and FRS 105 is the standard that applies when that choice is made. In practice, FRS 105 accounts are simplified financial statements: they focus on the balance sheet and the notes that accompany it, with far fewer disclosure requirements than standards such as FRS 102, and they are prepared on a basis that reflects the size and nature of a micro-entity’s activities. For a Queensferry company, that can mean less time spent on technical presentation and more clarity in what the accounts actually show. It is important to remember that FRS 105 deals with how the financial statements are prepared and reported; it does not replace Corporation Tax filings or other company obligations, which are handled separately.

Who Can Use FRS 105 in the UK?

FRS 105 is available to 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 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 those conditions is an important part of the picture, but it is not the whole test — the regime also carries its own rules and exclusions, and certain companies cannot use it regardless of their size. A Queensferry company considering FRS 105 Micro Entity Accounts should therefore look at its full circumstances, including its legal form, whether any exclusions apply, and who will rely on the accounts, before deciding whether the micro-entities regime is the right fit.

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

FRS 105 Micro Entity Accounts should be built from accurate records and prepared in line with the reporting requirements that apply to your company. A professional preparer will usually start with your bookkeeping, bank records, sales and purchase information, asset details, and any relevant agreements or loan documentation, then use those figures to construct financial statements that are internally consistent and supportable. The work typically covers drafting the balance sheet, preparing the accompanying notes, and checking that the presentation is appropriate for a micro-entity applying FRS 105. From there, the accounts are filed with Companies House in the required format, which is a distinct process from dealing with Corporation Tax. A Corporation Tax Return (CT600) is submitted separately to HMRC and is based on the company’s tax position, not simply a copy of the accounts, while a Confirmation Statement is another separate filing with a different purpose entirely. Keeping these obligations clearly separated helps avoid confusion and missed steps during the reporting cycle.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Queensferry

If you would like to discuss your FRS 105 Micro Entity Accounts, get in touch and tell us about your company — its trading activity, its accounting period, the records you already hold, and how you currently handle your bookkeeping and filings. That information helps us assess your circumstances and explain the sensible next steps, including whether the micro-entities regime looks suitable for you and what would be needed to prepare FRS 105 financial statements. Whether you are filing for the first time, moving from a different reporting framework, or simply want a clearer picture of your figures, we can talk through the options and outline how the process works from start to finish.

─── 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 designed for micro-entities. It sets out how qualifying companies that choose the micro-entities regime should prepare their financial statements, with a simplified format and fewer disclosure requirements than larger-company standards. The accounts focus mainly on the balance sheet and the supporting notes, keeping reporting proportionate to the size of the business.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and decide to apply the micro-entities regime. Qualifying is not the same as being required — a company that meets the size conditions still has a choice, and some companies are excluded from the regime regardless of their size. Because the rules and exclusions depend on individual circumstances, it is worth reviewing your position before deciding which framework to use.

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. Meeting those size conditions is a starting point rather than a guarantee — other eligibility rules and exclusions can apply, so the full picture needs to be considered.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic requirement. A company that qualifies can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer the additional disclosures and different presentation offered by another framework, so the decision is usually taken after looking at the company's circumstances and who relies on the accounts.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a broader financial reporting standard used by a much wider range of companies, with more extensive disclosure and measurement requirements. FRS 105 is a much shorter, simplified standard written specifically for micro-entities. In general terms, FRS 105 accounts are leaner and more focused on the balance sheet, while FRS 102 accounts provide more detail — which can matter if lenders, investors or other parties expect a fuller set of statements.

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

Yes. Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts are filed with Companies House in the required format. The filing is separate from any tax submission, and the accounts filed are those prepared under the chosen reporting framework. It is worth keeping your filing arrangements and deadlines organised so that the accounts and the related company filings are dealt with in the correct order.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, while a CT600 is a Corporation Tax Return submitted to HMRC. The CT600 deals with the company's tax position and is not simply a copy of the accounts, even though the figures in the accounts will often inform it. Many companies also have a separate Confirmation Statement obligation, which is different again.

What information is needed to prepare FRS 105 accounts?

Typically, a preparer will ask for your bookkeeping records or accounting software access, bank statements, sales and purchase records, details of any fixed assets, loan or lease agreements, stock or work-in-progress information, and the previous year's accounts for comparison. Details of the company's accounting period and any significant transactions during it are also helpful. Having these ready makes the preparation process smoother and reduces the chance of queries arising later.

Can a new limited company use FRS 105?

Potentially, yes — a newly incorporated company can apply the micro-entities regime if it qualifies and chooses to do so. In the first period, judgements about eligibility are made in the context of the rules that apply to that period, and there are specific considerations for a company's first set of accounts. It is worth confirming your position early so the bookkeeping is set up in a way that supports the framework you intend to use.

What changes are coming to micro-entity accounts filing?

Filing requirements and formats for company accounts do change from time to time, and the way accounts are submitted has been moving towards digital, software-based filing. Because the detail and timing of changes can affect how you prepare and submit FRS 105 Micro Entity Accounts, it is sensible to check the current requirements with your preparer rather than relying on older guidance.