─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Redruth: Straightforward Accounts for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts in Redruth are prepared under the financial reporting framework that applies to qualifying companies choosing to use the UK micro-entities regime. FRS 105 is a distinct accounting standard built around simplified recognition, measurement and disclosure requirements, which means the accounts can be shorter and more streamlined than those prepared under other frameworks — but they still need to reflect the company’s transactions accurately. Professional preparation helps ensure that the accounts are put together properly for your company’s particular circumstances, that the correct framework has actually been applied, and that the figures, notes and disclosures are consistent with the underlying records. If you run a small limited company in Redruth and want to understand whether FRS 105 Micro Entity Accounts are the right route for you, we can talk through your position, your reporting requirements and what the preparation process involves.

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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 Accounts

FRS 105 is the UK financial reporting standard that sets out how micro-entity accounts should be prepared. It sits alongside the UK’s micro-entities regime, which is an optional accounting regime available to companies that fall within the defined size limits. In simple terms, if your company qualifies and you choose to apply that regime, then FRS 105 is the standard you use to produce your annual financial statements. The appeal is simplicity: FRS 105 allows a more limited set of disclosures than other frameworks, and the format is designed to be easier to read and less burdensome to prepare. It does not, however, change the need for accurate bookkeeping — the accounts still have to be based on reliable records and give a true picture of the company’s financial position. FRS 105 Micro Entity Accounts in Redruth are therefore best thought of as a reporting choice that simplifies presentation while keeping the underlying accounting discipline intact.

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

FRS 105 is designed for companies that qualify for the UK micro-entities regime and decide to apply it. Eligibility is not simply a matter of being small — it depends on meeting the applicable size conditions and on no relevant exclusion applying to your company. 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. Meeting those size tests alone does not guarantee eligibility, because other rules and exclusions can affect whether the regime is open to a particular company, and some company types are treated differently. This is why it is worth checking your position rather than assuming. If you are unsure whether FRS 105 Micro Entity Accounts in Redruth are appropriate for your company, reviewing your figures and structure against the current rules is the sensible first step.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records — bank transactions, sales and purchase information, payroll data, asset details and any relevant supporting documents. From those records we prepare financial statements that follow the applicable reporting requirements for a company using the micro-entities regime, including the appropriate formats and disclosures. It is worth being clear about how the various obligations fit together. Preparing and filing accounts with Companies House is one requirement; submitting a Corporation Tax Return (CT600) to HMRC is a separate Corporation Tax obligation; and a Confirmation Statement is a further, distinct filing. FRS 105 governs the accounting and financial reporting framework for qualifying micro-entities, not the tax return itself. Our role is to help you get the accounting and reporting side prepared carefully and consistently, based on the information you provide and the requirements that apply to your company.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts in Redruth, the best next step is a conversation. Tell us about your company — what it does, how it is structured, roughly what your turnover, balance sheet total and employee numbers look like, and how your records are currently kept. That gives us enough context to assess your circumstances and explain whether the micro-entities regime looks suitable for you, what information we would need to prepare the accounts, and how the work would be handled. Whether you are newly incorporated, changing accountants, or simply want your current reporting approach reviewed, get in touch and we can work through the details together.

─── 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 accounting standard that applies to companies using the micro-entities regime. It sets out how micro-entity financial statements should be prepared, including the permitted formats and the limited disclosures required. It is a separate framework from FRS 102, which applies to a much wider range of companies and typically involves more detailed reporting.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is a matter of meeting the applicable size conditions and not falling foul of any of the relevant exclusions. A company that qualifies is not obliged to use the regime — it is an available accounting regime, and FRS 105 applies when that regime is chosen.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A company that meets the size conditions may choose to apply it, but it may also decide to prepare accounts under a different framework if that better suits its circumstances. FRS 105 is the standard that applies specifically when the micro-entities regime is the chosen route.

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. These are the headline size tests rather than the whole story — other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not automatically guarantee that the regime is available to a particular company.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different purposes. FRS 105 is the streamlined framework for qualifying micro-entities, with simplified recognition and measurement rules and fewer disclosures. FRS 102 is the broader framework used by many other companies, including small companies that do not use the micro-entities regime, and it generally involves fuller reporting and disclosure.

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

Accounts prepared under FRS 105 are still annual accounts, and the company's filing obligations with Companies House are separate from the choice of accounting framework. Whether and how accounts are filed depends on the rules that apply to your company. Many micro-entity companies file a simplified version of their accounts, but the specific position should be confirmed for your circumstances rather than assumed.

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

Yes, they are distinct. FRS 105 relates to the accounting and financial reporting framework used to prepare the company's financial statements. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate its Corporation Tax liability. The figures in the accounts inform the tax return, but preparing accounts and filing a CT600 are separate tasks, and a Confirmation Statement is a further separate filing.

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

Typically we would need your accounting records for the period, including bank and cash transactions, sales and purchase information, payroll details, details of any assets and liabilities, and any relevant supporting documentation such as loan agreements or invoices. If you are moving from another accountant, opening balances and prior year accounts are also helpful. The more complete and organised the records, the smoother the preparation process tends to be.