─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Randalstown

If your company qualifies for the UK micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your annual accounts under that regime. FRS 105 is the standard that applies when a qualifying company chooses to apply the micro-entities regime, and it is designed for the smallest businesses — typically owner-managed companies that want straightforward, understandable financial statements without the complexity of a fuller reporting framework. Professional preparation helps you work from accurate records, apply the framework consistently to your own circumstances, and present figures such as turnover, fixed assets, creditors and directors’ funds in a way that reflects what actually happened in the period. Just as importantly, it means the accounts are put together with the filing requirements in mind, so the figures that go to Companies House are consistent with the records and information you hold. Whether you are preparing your first set of FRS 105 Micro Entity Accounts in Randalstown or moving across from a different framework, the priority is the same: careful, considered accounts that suit your company rather than a one-size-fits-all template.

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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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 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 the Micro-Entities Regime Means for Your Accounts

FRS 105 is the financial reporting standard that applies to UK companies which qualify for the micro-entities regime and choose to use it. In simple terms, it is the simplest of the statutory accounting frameworks available: it allows a much shorter balance sheet, a shorter profit and loss account, and far fewer notes than larger companies have to provide. It also restricts certain measurement options — for example, it does not permit revaluing assets upwards or using fair value in the way some other frameworks do — which keeps the figures based on historic cost and makes the accounts easier to follow. The micro-entities regime is an available accounting regime, not an automatic entitlement: a company has to meet the applicable size conditions and be free of the relevant exclusions, and even then it is a choice rather than an obligation. When that choice is made, FRS 105 applies. The result is a set of financial statements that gives a clear, proportionate picture of a very small company’s position, and which is drafted with the filing requirements for micro-entity accounts in mind.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and that choose to apply it. Eligibility is based on size, but it is assessed against rules rather than assumptions. 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. That is the starting point, not the whole test. Other eligibility rules and exclusions can apply, certain types of company are not permitted to use the regime at all, and the position can change if your company is part of a group or has had an unusual period. Meeting the size thresholds alone therefore does not automatically mean a company qualifies, and even a qualifying company is not obliged to use the regime. If you are unsure where your company stands, reviewing your figures and structure before the accounts are prepared is the sensible approach.

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.

Accurate, Professionally Prepared FRS 105 Micro Entity Accounts

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records — bookkeeping, bank and credit card statements, sales and purchase information, payroll records, asset details and any loans or director transactions. From there, the figures are compiled into a balance sheet and profit and loss account, and the disclosures required under FRS 105 are considered against your specific circumstances, including any items that need judgement or explanation. It is worth being clear about how the separate obligations fit together: the preparation and filing of your accounts with Companies House is one process, and the Corporation Tax position is another. A Corporation Tax Return (CT600) is submitted to HMRC separately from your accounts, and a Confirmation Statement is a further, distinct filing. Good accounts work supports all three, but they are not the same task and they do not have the same deadlines or requirements. Working with an experienced preparer helps ensure your FRS 105 Micro Entity Accounts are consistent with your records, prepared on a basis that suits your company, and accompanied by the right information for the other filings you need to make.

ICAEW

ACCA

AAT

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

If you would like help preparing FRS 105 Micro Entity Accounts, the best starting point is a conversation. Tell us about your company — what it does, how long it has been trading, your approximate turnover and balance sheet position, and how you currently keep your records — and we can assess whether the micro-entities regime is likely to be available to you and what would be involved in preparing your accounts on that basis. If you already have draft accounts, trial balance or bookkeeping software exports, share those too; the more we understand about your circumstances, the more useful our guidance will be. We can then explain the practical steps, the information we need from you, and how the accounts fit alongside your other filing obligations. Clear, transparent pricing and a straightforward process are part of how we work, so you know what to expect 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 that applies to companies using the micro-entities regime. It is the most simplified of the statutory accounting frameworks, allowing a short balance sheet, a short profit and loss account and minimal notes. It also limits certain measurement options, so figures are generally kept on a historic cost basis rather than being revalued or restated at fair value.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and that choose to apply it. Qualifying is not simply a case of being small — the company must meet the applicable size conditions and must not fall within any of the relevant exclusions. Because eligibility depends on your own facts and the rules in force for your accounting period, it is worth checking your position rather than assuming you qualify.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, and applying it is a choice. A company that qualifies may instead prepare accounts under another framework, such as the small companies provisions of FRS 102. The practical differences include the level of disclosure, the presentation of the accounts and the measurement options available, so the choice is usually made with your circumstances and reporting needs in mind.

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 those conditions is not the whole story — other eligibility rules and exclusions can apply, and some companies are not permitted to use the regime regardless of size. The criteria should always be checked against your specific accounting period.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK framework, with a small companies section that many SMEs use. Compared with that, FRS 105 is far shorter and simpler: fewer notes, a more restricted balance sheet format, and no scope for revaluing assets or using fair value measurement in the same way. It also removes certain accounting choices and estimates. In practice, FRS 105 produces a leaner set of financial statements, while the FRS 102 small companies regime offers more flexibility but requires more disclosure.

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

Yes — a company that prepares accounts under FRS 105 still has to file its annual accounts with Companies House, using the micro-entity accounts option where it applies. Filing is a separate process from preparing the accounts, and it is separate again from your Corporation Tax obligations. It is also distinct from the Confirmation Statement, which confirms company information such as directors, shareholders and registered office rather than reporting financial results.

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

Yes, they are two different things. FRS 105 concerns how your financial statements are prepared and reported, while a CT600 is the Corporation Tax Return submitted to HMRC. The figures in your accounts usually form the starting point for the tax computation, but adjustments may be needed, and the two filings go to different bodies with their own requirements. Preparing the accounts and dealing with the tax return are related tasks, but not the same task.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase records, payroll information if you employ staff, details of any assets bought or sold, loan and director's loan balances, and your previous year's accounts if you have them. A trial balance or export from your bookkeeping software is helpful. From that information we can assess the figures, consider the disclosures FRS 105 requires and highlight anything that needs clarification before the accounts are finalised.