─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Royal Wootton Bassett

If your company is a qualifying micro-entity and you choose to apply the micro-entities regime, FRS 105 Micro Entity Accounts are the financial reporting framework that applies to your annual accounts. FRS 105 is a simplified accounting standard: it focuses on a straightforward historical cost basis, does not require some of the fair value and disclosure detail found in larger frameworks, and produces a set of financial statements suited to the size and nature of a micro-entity. That simplicity is helpful, but the accounts still need to be prepared accurately and consistently, with the figures agreeing to your underlying records and the presentation reflecting the regime you have chosen. Our work in Royal Wootton Bassett involves preparing FRS 105 Micro Entity Accounts for companies that qualify for and adopt the micro-entities regime, helping to make sure the financial statements are put together appropriately for the company’s particular circumstances — its trade, its assets and liabilities, its director’s loan position, and its wider filing obligations. Qualifying is not automatic simply because a business is small, and choosing the regime is a decision rather than a default, so we take the time to confirm the position before preparing anything.

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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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   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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─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Your Accounts

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that sets out how a qualifying small company prepares its annual accounts when it decides to use the micro-entities regime — the lightest-touch accounting framework available under UK GAAP. Under FRS 105, accounts are generally prepared on a historical cost basis, with fewer valuations, fewer judgements about fair value, and a much shorter set of notes than you would see under a larger framework such as FRS 102. The result is a shorter, clearer set of financial statements: typically a balance sheet, a small number of notes, and the accompanying information required by law, presented in the format expected for a micro-entity. Two points are worth being clear about. First, the micro-entities regime is an option, not something a company is forced into — a qualifying company can choose to apply it, and it can also choose a more detailed framework if that suits its circumstances better. Second, FRS 105 applies when the micro-entities regime is the regime that has been chosen. If you are unsure which framework your company is using, or whether a change would be sensible, that is exactly the sort of question we can work through with you when preparing your FRS 105 Micro Entity Accounts in Royal Wootton Bassett.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. The starting point is 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. Those figures set the size test, but they are not the whole story. The micro-entities regime carries its own rules about which entities can use it and specific exclusions, which means a company that appears to be small enough may still be unable to apply it — and a company that qualifies is never obliged to. Choosing the regime is a decision, and it is one that can be revisited as a business grows or its needs change. Because of that, we treat eligibility as something to confirm case by case rather than assume, and we look at your company’s structure, its activities and the period in question before preparing FRS 105 Micro Entity Accounts in Royal Wootton Bassett. If you would like clarity on where your company stands, that is a straightforward conversation to have.

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.

Properly Prepared FRS 105 Micro Entity Accounts, Backed by Careful Review

Good micro-entity accounts start with good records. We prepare FRS 105 Micro Entity Accounts from the accounting information your company provides — bookkeeping, bank and credit card records, sales and purchase documentation, payroll information, asset details, and any loan or director’s account balances — and we ask questions where something looks unclear or incomplete rather than simply posting a figure. From there, the financial statements are drafted in line with FRS 105 and the presentation requirements that apply to a micro-entity, so the balance sheet, notes and supporting disclosures reflect the company’s actual position. It is worth separating the pieces of the puzzle: the preparation of the financial statements, the filing of those accounts with Companies House, and the company’s Corporation Tax position are three distinct obligations, even though they draw on the same underlying records. A CT600 is a separate Corporation Tax Return submitted to HMRC and is not the same thing as FRS 105 accounts, and the accounts filed at Companies House are not a tax return. We can help you understand how the pieces fit together for your company, including where figures used in one document need to reconcile with another. What we can offer is careful, appropriately qualified preparation and clear explanations of the judgements involved — not a promise of any particular outcome, since responsibility for the accuracy of the records and the resulting filings ultimately rests with the company and its directors.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Royal Wootton Bassett

Whether you are preparing micro-entity accounts for the first time, moving across from a different framework, or simply want the figures checked before they are finalised, we are happy to talk it through. Tell us a little about your company — what it does, when your accounting period ends, roughly how it is structured, and how your records are currently kept — and we can discuss how your FRS 105 Micro Entity Accounts should be prepared and what information we would need from you. If you are not yet sure whether the micro-entities regime is the right fit, that is a perfectly sensible starting point, and we can look at your circumstances together before anything is drafted. Get in touch to start the conversation about your FRS 105 Micro Entity Accounts in Royal Wootton Bassett.

─── 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 prepares its annual accounts when it applies the micro-entities regime, using a simplified, largely historical cost approach with a much shorter set of notes than larger frameworks. It sits within UK GAAP and is designed to reduce the reporting burden on the smallest companies without removing the need for accurate, properly presented financial statements.

Who can use FRS 105?

FRS 105 is available to companies that both qualify for the micro-entities regime and choose to apply it. Qualifying depends on the size criteria for the period in question, and a range of other rules and exclusions can also affect eligibility — for example, certain types of company are excluded from the regime altogether. Meeting the size tests does not automatically mean the regime applies, because it remains a choice. We look at your specific circumstances before confirming which framework should be used.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available regime rather than a mandatory one. A company that qualifies for it can choose to apply the micro-entities regime — in which case FRS 105 applies — or it can elect to prepare accounts under a more detailed framework such as FRS 102. The choice can depend on what the company needs from its accounts, what its lenders or other users expect to see, and whether more detailed disclosures are useful. It is worth reviewing the decision rather than treating it as permanent.

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 size tests only. Other eligibility rules and exclusions can still apply, so meeting two of the three conditions is not by itself a guarantee that the micro-entities regime can be used, and the position should be checked for your company and the period concerned.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they are aimed at different sizes of company and differ in complexity. FRS 105 is the micro-entities standard: historical cost accounting, limited notes, and a short set of financial statements. FRS 102 is the standard for larger small companies and other entities, and it brings in more areas of judgement, more measurement options such as fair value in some circumstances, and considerably more disclosure. Choosing between them affects the figures presented as well as the length of the accounts, so it is a decision worth taking deliberately.

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

Yes. A company that prepares annual accounts under FRS 105 still has to file accounts with Companies House within the filing deadline that applies to it, and those accounts must meet the filing requirements for a micro-entity. Preparing the financial statements and filing them are two steps in the same process, but they are not identical — the accounts filed publicly may be a version of the full accounts. The filing of accounts with Companies House is separate from anything submitted to HMRC.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities accounting framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profit and calculate the tax due. The two are based on the same underlying records and need to be consistent with each other, but they serve different purposes, go to different recipients, and follow different rules. Neither one replaces the other, and both sit alongside other obligations such as Confirmation Statements.

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

In practice we usually need a complete record of the period's income and expenses, bank and credit card statements, sales and purchase documentation, payroll and pension information, details of any assets bought or sold, and the balances on any loans — including director's loans. Details of share capital, dividends, and any amounts owed to or by the company also help. The more complete and up-to-date your records are, the smoother the process tends to be, and if your bookkeeping needs tidying first we can point out what is missing.