─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shenstone

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it in Shenstone. Where that regime is used, FRS 105 sets out how the financial statements are put together, including a simplified balance sheet and profit and loss account and reduced disclosure compared with frameworks designed for larger companies. Eligibility is not automatic: a company needs to meet the applicable size conditions and must not fall within any of the relevant exclusions. Professional preparation helps you work through those conditions, build the accounts from your bookkeeping and financial records, and make sure the figures presented reflect your company’s own circumstances rather than a generic template.

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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 for Shenstone Micro-Entities

In simple terms, FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits within the micro-entities regime under UK company law, and it applies when a qualifying company chooses to use that regime for its accounts. Compared with other reporting frameworks, FRS 105 keeps things deliberately lean: it allows a simplified balance sheet and profit and loss account, it generally requires fewer disclosures in the notes, and it uses a straightforward measurement approach built around historical cost rather than fair value or revaluation. That means less time spent on technical adjustments and a set of financial statements that is easier to follow. For a company in Shenstone, the practical questions are whether the company qualifies and whether the micro-entities regime suits how you want your accounts presented — which is exactly where an FRS 105 Micro Entity Accounts service can help.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualification depends on size conditions and other rules, rather than simply being small in a general sense. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 conditions does not, on its own, guarantee that the micro-entities regime is available — other eligibility rules and exclusions can apply, and some companies are not eligible despite being small. Once eligibility is confirmed, the regime is a choice rather than a requirement. We can review your company’s position for a given accounting period and explain whether FRS 105 Micro Entity Accounts look appropriate for your circumstances in Shenstone.

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 in Shenstone

Preparing FRS 105 Micro Entity Accounts is a matter of applying the standard accurately to your company’s own records and circumstances. Working from your bookkeeping, bank records, sales and purchase information and other supporting documents, we can build a set of financial statements that follows the FRS 105 format, with the simplified balance sheet, profit and loss account and any required notes. The accounts and the Companies House filing are one part of your obligations; Corporation Tax, including the CT600, is a separate matter handled under HMRC rules and prepared on a different basis. We can help you keep those workstreams clear, explain what the figures mean, and answer questions as they arise. The aim is accurate, appropriately prepared financial statements built around your company, not a one-size-fits-all template.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts

If your company may qualify for the micro-entities regime, or you simply want to understand whether FRS 105 Micro Entity Accounts are the right fit, get in touch for a straightforward conversation. Tell us a little about your company — what it does, how it trades, the state of your bookkeeping and records, and your current reporting arrangements — and we can look at your circumstances and explain the options that apply to you. There is no obligation and no pressure: the first step is simply establishing where you stand and what information would be needed.

─── 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 sits alongside the micro-entities regime under company law and sets out how the financial statements of qualifying companies are prepared when that regime is chosen — including the format of the balance sheet and profit and loss account, the measurement approach used, and the limited disclosures required. In practice it produces a shorter, simpler set of accounts than frameworks aimed at larger companies, with less technical adjustment work and fewer notes.

Who can use FRS 105?

It is available to companies that qualify for the micro-entities regime and decide to apply it. Qualifying is about more than a general sense of being a small company: the applicable size conditions must be met and any relevant exclusions checked. Because the position can be affected by the type of company and its circumstances, it is worth reviewing eligibility for the specific accounting period rather than assuming FRS 105 applies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available regime rather than an obligation, so a company that qualifies can choose whether or not to use it. Some qualifying companies prefer to prepare accounts under a different framework, for example where a lender, investor or parent company needs more detail or a different measurement basis. If the micro-entities regime is applied, FRS 105 is the standard that governs those accounts.

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 these 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. The word 'generally' matters — additional rules and exclusions can apply, and some companies are not eligible for the micro-entities regime regardless of their size. Accounting periods beginning before that date were subject to the thresholds in force at the time.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is the most streamlined of the two, with a simplified balance sheet and profit and loss account, a historical cost measurement approach and reduced disclosure. FRS 102 is used by a much wider range of companies, including small companies that do not use the micro-entities regime, and it generally involves more disclosures and more areas where accounting policies and judgements come into play. Choosing between them is a decision about eligibility and about what your accounts need to show.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year and is required to file accounts, those are the accounts delivered to Companies House, along with any other documents required as part of that filing. Filing accounts with Companies House is separate from filing a Corporation Tax Return with HMRC. Companies House has also been moving towards accounts being delivered in a digital format prepared using filing software rather than being typed manually, so it is worth confirming the current position before your filing.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities accounting framework. A CT600 is a Corporation Tax Return submitted to HMRC, and it is a separate filing with its own rules, deadlines and calculations. The accounts usually provide the starting point for the tax figures, but tax adjustments — such as for disallowable expenditure or capital allowances — mean taxable profit is not simply the profit shown in the accounts. Keeping the accounting and tax workstreams clearly separated helps avoid confusion.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase records, payroll information if you employ staff, and details of assets, loans or creditors. It also helps to know about anything that changed during the year, such as a new loan, a director's loan movement, or a shift in trading activity. If your records are not fully up to date, that is not a barrier — we can talk through what is needed and the most practical way to get there.