FRS 105 micro-entity accounts in Saxilby

FRS 105 accounts for Saxilby companies

FRS 105, the Financial Reporting Standard applicable to the Micro-entities Regime, sets the recognition and measurement rules for the smallest companies. It is simpler than FRS 102 Section 1A, which small companies use. Assets and liabilities are generally recorded at historical cost, there is no deferred tax and most disclosure notes fall away.

FRS 105 accounts for Saxilby businesses: local facts

Saxilby is in the West Lindsey council area, in the East Midlands region. ONS figures for 2026 count 3,735 VAT- or PAYE-registered businesses in West Lindsey, and 3,365 of them (90%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in West Lindsey are construction (580), agriculture, forestry and fishing (530) and professional, scientific and technical services (445). For construction companies in Saxilby, Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. That puts construction at 17% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Saxilby (West Lindsey 009) has 390 VAT- or PAYE-registered businesses, and 335 of them (86%) are micro businesses.

West Lindsey ranks 973 of the 1105 areas we serve by number of micro businesses, and its micro share of 90% is in line with the 89% average across them. In agriculture, forestry and fishing (530 micro businesses in West Lindsey), seasonal income, grants and farm equipment need careful year-end treatment, so we tie your accounts to bank records and an asset register. In professional, scientific and technical services (445 micro businesses in West Lindsey), fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised.