─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Saltcoats

If your company is based in Saltcoats and you are looking for a straightforward, proportionate way to prepare and report your annual financial statements, FRS 105 Micro Entity Accounts may be the right fit. FRS 105 is the financial reporting framework that applies to qualifying micro-entities that choose to apply the UK micro-entities regime. It is designed to keep reporting simple and focused, while still producing accounts that properly reflect the company’s financial position and performance. Professional preparation can help you work through the detail — from reviewing the bookkeeping and records through to the format and content of the financial statements — so that the accounts are tailored to your company’s circumstances rather than produced from a generic template. Because eligibility depends on the size conditions and on other rules and exclusions, not every small company qualifies, and the regime only applies where it is both available and chosen. Working with someone who understands FRS 105 Micro Entity Accounts means you can make an informed decision about whether the micro-entities regime suits your Saltcoats company, and then have the accounts prepared on that basis.

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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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   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: The Micro-Entities Regime in Simple Terms

FRS 105 is the UK accounting standard written specifically for micro-entities. In plain terms, it is a simplified financial reporting framework: it allows qualifying companies to prepare shorter, less detailed accounts than would be needed under a fuller standard such as FRS 102. It sits alongside the UK micro-entities regime, which is an optional accounting regime — a company that qualifies can choose to use it, and when that choice is made, FRS 105 is the standard applied to the financial statements. That means the accounts are prepared on a micro-entity basis, with a streamlined balance sheet, a simplified profit and loss account (which under the micro-entities regime is generally not filed publicly), and far fewer disclosure notes than a larger company would provide. For a small owner-managed business in Saltcoats, this can make the annual reporting process quicker to understand and easier to follow, with figures presented in a way that reflects the reality of the business. It is worth being clear about what FRS 105 is not: it does not change how much Corporation Tax a company pays, and it is not a separate tax return. It is an accounting framework, and choosing it affects how the financial statements are prepared and presented, so the decision should be made with your specific circumstances in mind.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it. Eligibility is not automatic, and it is not simply a matter of being a small business. 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 during the period. Alongside those size conditions, other eligibility rules and exclusions can apply, and certain entities are prevented from using the regime regardless of their size. There are also considerations around the company’s legal form, group structure and the nature of its activities, and in some cases the position can change from one period to the next as the business grows or its circumstances shift. For a company in Saltcoats weighing up FRS 105 Micro Entity Accounts, the sensible approach is to review the relevant figures for the period, check any exclusions that might apply, and then decide whether applying the micro-entities regime is both possible and appropriate. Meeting the size thresholds does not by itself guarantee eligibility, which is why a proper review of your company’s circumstances comes before any decision on how the accounts will be prepared.

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

FRS 105 Micro Entity Accounts should be built from accurate records and prepared in line with the reporting requirements that apply to your company. In practice, that means starting with your bookkeeping, bank records, invoices, expenses, payroll information and any asset or liability details, then using those to produce financial statements that present a fair picture of the business. Because FRS 105 is a distinct framework, the format, headings, accounting treatments and disclosure notes differ from those used under other standards, so the accounts need to be prepared deliberately on a micro-entity basis rather than adapted from a different template. It is also helpful to keep the two sides of annual compliance separate in your mind: the preparation and filing of the financial statements (typically with Companies House for a UK limited company) is a reporting exercise, while a Corporation Tax Return, known as a CT600, is a separate filing made to HMRC covering the company’s tax position for the period. Both may be needed, but they are different documents with different audiences and different supporting information. A Confirmation Statement is a further, separate filing. Working with an accountant who handles FRS 105 Micro Entity Accounts means your figures are reviewed, your financial statements are prepared to the applicable requirements, and the filings you are responsible for can be planned out sensibly for the year ahead.

ICAEW

ACCA

AAT

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

If you would like help deciding whether the micro-entities regime is right for your Saltcoats company, or you simply want your annual accounts taken care of properly, get in touch. Tell us a little about your business — what it does, how it is structured, how long you have been trading, and the sort of records you keep — and share your latest bookkeeping or accounting information so your circumstances can be assessed. From there, we can talk through how FRS 105 Micro Entity Accounts work in your situation, what information will be needed, how the financial statements are prepared, and how that fits alongside your other filing responsibilities, including any Corporation Tax Return or Confirmation Statement. Whether you are newly incorporated, changing accountant, or have been trading for years and want a clearer reporting approach, a short initial conversation is a good place to start, with clear, transparent pricing options and no obligation.

─── 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 a simplified framework that qualifying companies can use when preparing their annual financial statements under the micro-entities regime. Compared with fuller standards, it allows a shorter balance sheet, a simplified profit and loss account and far fewer disclosure notes, which keeps reporting proportionate to the size of the business.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. 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. Other rules and exclusions apply, so meeting the size conditions alone does not automatically mean the regime is available or appropriate — professional advice is worthwhile before deciding.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it, and where that choice is made, FRS 105 is the standard used to prepare the financial statements. Some qualifying companies prefer to report under a fuller framework for their own reasons, and some companies simply do not qualify. The decision should be based on your circumstances and any requirements that apply to your company.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of entity and produce different levels of detail. FRS 102 is the fuller standard used by most small and medium-sized companies, with more extensive recognition, measurement and disclosure requirements. FRS 105 is the streamlined micro-entity standard, offering simpler presentation and far fewer notes. Moving between the two can affect how items are presented and what is disclosed, so it is not simply a matter of shortening the same set of accounts.

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

For a UK limited company, annual accounts are generally filed with Companies House, and accounts prepared under FRS 105 form part of that filing. Under the micro-entities regime, a simplified version of the accounts is typically filed, and the profit and loss account is generally not made public, although it still needs to be prepared for the company's own records and for tax purposes. Filing requirements can differ for other types of entity, so it is worth confirming what applies to your specific company.

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

Yes, they are separate. FRS 105 accounts are financial statements prepared under the micro-entities accounting framework and are generally filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position for the period. The figures in your accounts often inform the tax return, so the two are connected in practice, but they are different documents with different purposes, deadlines and filing routes. A Confirmation Statement is separate again.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime. In the first period, eligibility is usually assessed on the figures for that period, bearing in mind that a company may be in a start-up phase with limited turnover and few employees. Because first-year accounts, the first Corporation Tax Return and other filings often fall due close together, it helps to plan the reporting approach early rather than leaving it until the filing date approaches.

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

Typically you would provide records covering the accounting period: sales and purchase records, bank and cash statements, payroll information if you employ staff, details of any assets and liabilities, loan or finance agreements, stock or work-in-progress figures where relevant, and any previous year's accounts if you are an established company. If you use accounting software, read-only access is often the simplest route. Having the records complete and reconciled before preparation begins helps the accounts to be produced efficiently and accurately.

What changes are coming to micro-entity accounts filing?

Company reporting and filing requirements do change from time to time, including around how accounts are filed and the level of detail required for small and micro-entity companies. The direction of travel has been towards filing accounts in a more structured, digital format, which can affect how figures need to be tagged and submitted. Because the practical impact varies by company and by filing route, it is sensible to check the current position when your accounts are being prepared rather than relying on guidance from an earlier year.