─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rugby

If your company is based in Rugby and may qualify for the UK micro-entities regime, FRS 105 Micro Entity Accounts could be the simplest and most cost-effective way to meet your financial reporting obligations. FRS 105 is the financial reporting framework that applies when a qualifying micro-entity chooses to use the micro-entities regime, and it allows for a streamlined set of financial statements prepared on a historical cost basis, with reduced disclosure requirements compared to larger reporting frameworks. Professional preparation helps ensure your accounts are put together appropriately for your company’s own circumstances — its trading activity, its accounting records, its assets and liabilities, and the framework it has chosen to apply. It also helps keep your figures consistent, understandable and supported by the underlying bookkeeping. Because FRS 105 Micro Entity Accounts must reflect the company’s actual transactions and position, the starting point is always a clear, up-to-date set of records, and a conversation about whether the micro-entities regime is the right fit for your business in Rugby.

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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 It Means for Rugby Micro-Entities

In straightforward terms, FRS 105 is the UK accounting standard written specifically for micro-entities. It sits alongside the UK’s micro-entities regime, which is an accounting regime that qualifying small companies can choose to apply when preparing their annual financial statements. When a company qualifies for that regime and decides to use it, FRS 105 is the standard it follows. The appeal of FRS 105 is its simplicity. The accounts are prepared on a historical cost basis, which means assets and liabilities are generally recorded at their original cost rather than being revalued, and the disclosure notes required are considerably shorter than under other frameworks such as FRS 102. The trade-off is that the resulting financial statements give a simpler picture of the company’s position, which is fine for many owner-managed businesses but not always ideal for every type of company. For a Rugby-based limited company, the practical effect is a shorter, more straightforward set of accounts — a balance sheet, a profit and loss account and a small number of supporting notes — provided the company meets the qualifying conditions and has actively chosen the micro-entities regime. A useful distinction to keep in mind is that FRS 105 governs how your financial statements are prepared and presented; it is not the same thing as your Corporation Tax Return, and it does not determine how much tax your company pays.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it when preparing their annual financial statements. Both parts matter: a company needs to be eligible, and it needs to make the decision to adopt the regime. For accounting periods beginning on or after 6 April 2025, the size conditions are 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, and a company generally needs to meet at least 2 of those 3 applicable conditions. Importantly, meeting the size conditions alone does not always mean a company can use the regime. There are additional eligibility rules and certain exclusions that can rule a company out — for example, where the company forms part of a group or falls into a category that the rules do not permit — and some companies are simply not eligible regardless of their size. It is also worth noting that the micro-entities regime is voluntary. A qualifying Rugby company might reasonably decide to prepare accounts under a different framework instead, depending on what its directors, lenders or investors need to see. The practical answer, then, is that FRS 105 may be suitable for straightforward owner-managed companies that comfortably sit within the size conditions, but eligibility and suitability should always be checked against your own circumstances rather than assumed.

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 is not simply a matter of typing figures into a template. The accounts need to be built from your company’s financial records — bank transactions, sales and purchase records, payroll information, asset purchases, loans and any other balances — and then presented in line with the requirements of FRS 105 as it applies to your circumstances. That means applying the correct recognition and measurement approach, deciding which disclosures are relevant, and making sure the figures in the accounts agree to the underlying records and to any other filing you make. It is worth separating the moving parts clearly: the financial statements themselves are prepared under the applicable framework; filing those accounts with Companies House is a separate statutory step; and your Corporation Tax Return (CT600) is a distinct submission made to HMRC. Getting professional help with the accounts means your bookkeeping is reviewed, the figures are presented coherently, and you understand what has been prepared and why. At Micro Entity Accounts, we work with companies in Rugby and across the UK to produce clear, tidy FRS 105 financial statements, and to explain the choices and judgements involved in plain English so you can file with confidence.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Rugby

If you would like help with FRS 105 Micro Entity Accounts for your Rugby-based company, the next step is a straightforward conversation. Tell us about your business — what it does, how it is structured, roughly how it has traded, and what records you currently keep — and we can look at whether the micro-entities regime appears to suit your circumstances and what would be involved in preparing your accounts. It also helps to have your latest bookkeeping, bank statements, payroll summaries, details of any assets or loans, and information about any other companies or group relationships, since these can affect what is appropriate. There is no obligation and no scripted sales pitch: we will explain the practical options, what we would need from you, and how our fixed-fee approach works so you can decide with clear information in front of you. If you are unsure where to start, that is perfectly normal — many directors are, and we are used to helping business owners get organised.

─── 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 a qualifying micro-entity prepares and presents its annual financial statements when it chooses to apply the micro-entities regime. In practice it produces a simpler set of accounts: a balance sheet, a profit and loss account and a limited number of notes, prepared on a historical cost basis with reduced disclosure requirements compared with larger frameworks.

Who can use FRS 105?

FRS 105 is available to companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying is not the same as being required to use it — the micro-entities regime is an available option, not an automatic one. Alongside the size conditions, there are other eligibility rules and exclusions that can affect whether a particular company is able to use the regime, so eligibility needs to be considered for each company rather than assumed.

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 a starting point rather than a guarantee — certain companies are excluded from the regime by the relevant rules, and other considerations can apply, so it is worth checking your specific position before deciding.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an accounting regime that qualifying companies may choose to adopt. A company that meets the size conditions could use it, but it might instead prepare its accounts under another framework such as FRS 102, particularly if it wants to present more detailed information or has a reason to show a fuller picture — for example, if lenders, investors or group arrangements require it.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but FRS 105 is the more streamlined option, written specifically for micro-entities. FRS 105 requires accounts to be prepared on a historical cost basis, without revaluations or fair value accounting, and with far fewer disclosures. FRS 102 is a broader framework used by many small and medium-sized companies and allows more accounting options and requires more extensive notes, which can give a richer view of the business at the cost of more preparation work.

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

Where a company prepares its annual accounts under FRS 105, those accounts form its statutory accounts and would normally be filed with Companies House as part of its annual filing obligations, alongside whatever else the company is required to submit. Filing accounts and filing a Confirmation Statement are separate requirements, and filing accounts is also separate from your Corporation Tax Return to HMRC. We can help you understand which documents are involved and how they fit together.

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

Yes, they are distinct. FRS 105 Micro Entity Accounts are your company's financial statements, prepared under the micro-entities regime, and they deal with how your results and position are reported. A CT600 is a Corporation Tax Return submitted to HMRC to report your company's taxable profits and calculate the tax due. FRS 105 does not set tax rules, and the two documents serve different purposes even though they draw on the same underlying records.

Can a new limited company use FRS 105?

It depends on the company's circumstances rather than simply on its age. A newly incorporated company can potentially use the micro-entities regime if it meets the relevant eligibility conditions and chooses to apply them, but a first accounting period can bring its own quirks — for example around the period length and how figures are presented in a first set of accounts. It is sensible to look at eligibility and presentation together before the accounts are prepared.