─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shifnal

FRS 105 Micro Entity Accounts in Shifnal are prepared under the financial reporting framework designed for qualifying UK companies that choose to apply the micro-entities regime. FRS 105 is the standard that applies when that regime is selected, and it allows eligible companies to produce simpler, shorter financial statements than those required under larger-company frameworks. Professional preparation helps ensure the accounts are put together appropriately for your company’s particular circumstances — reflecting the figures in your records, the nature of your business, and the disclosure requirements that apply to the micro-entities regime. Because eligibility depends on more than size alone, the first step is usually a short review of your company’s position to confirm whether FRS 105 is the right fit, or whether another framework would be more suitable. From there, accounts can be prepared on a clear, structured basis, with the Companies House filing handled separately from your Corporation Tax obligations.

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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: The Framework Behind Micro-Entity Accounts

In plain terms, FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. The regime itself is a set of legal rules that gives smaller companies the option to report using a simplified framework, and FRS 105 is the standard that applies when a qualifying company decides to take that option. If a company qualifies for the micro-entities regime and chooses to apply it, its financial statements are prepared under FRS 105 — which is why you will often see the two terms used together, as in FRS 105 Micro Entity Accounts. The framework is deliberately streamlined: it focuses on the core statements a small company needs to present, with far less supporting disclosure than a larger reporting framework would demand. It is also closely tied to the figures recorded in your books, so good day-to-day record keeping makes the accounts process smoother. Importantly, FRS 105 is an available regime for qualifying companies rather than an automatic label — qualifying is one thing, choosing to apply the regime is another, and the two need to line up.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for UK companies that qualify for the micro-entities regime and choose to apply it — both elements matter. On the size side, 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 are a useful starting point, not the whole picture. The micro-entities regime also carries its own eligibility rules and exclusions, which can rule certain companies out even when they comfortably sit within the size thresholds. And even a company that clearly qualifies is not required to adopt the regime — it is a choice, and one that should be made with an eye on lenders, investors, group reporting and any future plans. If you are based in Shifnal and want to know where your company stands, the sensible approach is to review your turnover, balance sheet total, average employee numbers and company structure together, then decide whether FRS 105 Micro Entity Accounts or a fuller framework is the better route.

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 Accounts with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means starting from your company’s financial records and applying the reporting requirements that are relevant to a qualifying micro-entity. That covers building the balance sheet and profit and loss account on a basis consistent with the framework, checking that the figures agree back to your bookkeeping, and making sure the presentation reflects the way your business actually operates. For many directors in Shifnal, the value of professional preparation is the reassurance that comes from a second pair of eyes: transactions reviewed in context, inconsistencies picked up early, and a set of financial statements that reads clearly for the people who use them. It is also worth keeping the moving parts separate. Preparing and filing the financial statements with Companies House is one task; a Corporation Tax Return (CT600) submitted to HMRC is a separate obligation with its own deadlines and its own supporting information. The same is true of the Confirmation Statement, which is a distinct filing. Good accounts preparation supports all of these, but it does not replace them — and no accountant can guarantee a particular filing outcome, only that the work is carried out carefully and on the correct basis.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Shifnal

If you are unsure whether the micro-entities regime is available to your company, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, a short conversation is the best place to start. Tell us about your company — what it does, how it is structured, roughly what its turnover, balance sheet total and employee numbers look like, and whether it has any subsidiaries, overseas activity or unusual transactions — and we can talk through your circumstances and what would be needed. It also helps to have your bookkeeping or accounting records, bank statements and any relevant detail on significant transactions to hand. From there we can explain how the work would be approached, what information we would need from you, and how FRS 105 accounts fit alongside your Companies House filing and your separate Corporation Tax responsibilities.

─── 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 that applies to companies using the micro-entities regime. It sets out how a qualifying micro-entity prepares its financial statements, allowing a simplified balance sheet and profit and loss account with substantially reduced disclosure compared with larger reporting frameworks. It is the standard behind what are commonly called FRS 105 Micro Entity Accounts.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the micro-entities regime and choose to apply it. Qualifying is a matter of meeting the applicable size conditions and not falling foul of the relevant rules and exclusions — for example, certain company types and activities are not eligible regardless of size. Choosing is a separate decision: a qualifying company is not obliged to adopt the regime, and some directors prefer a fuller reporting framework instead.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option, not a mandatory one. A company that meets the size conditions may apply the regime and prepare FRS 105 accounts, but it does not have to. Some qualifying companies choose a different framework because of lender requirements, group reporting, planned investment, or simply a preference for fuller disclosure. The right answer depends on your circumstances, which is why eligibility and suitability are worth reviewing together.

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 the size conditions alone is not the whole test — other eligibility rules and exclusions can apply, so the thresholds should be treated as one part of the assessment rather than a guarantee of eligibility.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the micro-entities framework, with a simplified format and minimal disclosure. FRS 102 is a fuller framework used by a much wider range of companies, and it covers areas such as financial instruments, fair value accounting and deferred tax in more depth. A company that does not qualify for the micro-entities regime, or that chooses not to apply it, would typically look at FRS 102 or another applicable framework.

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

Where a company prepares FRS 105 accounts and is required to file annual accounts, those accounts are used for its Companies House submission, in line with the filing requirements that apply to it. Filing accounts with Companies House is a separate process from filing a Corporation Tax Return with HMRC, even though both draw on the same underlying figures. The financial statements and the tax return serve different purposes and have their own submission routes and deadlines.

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

Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities framework. A CT600 is a Corporation Tax Return submitted to HMRC, and it is a distinct filing with its own requirements. The accounts usually provide the starting point for the tax computation, but the two documents are not interchangeable: one reports your financial position and performance, the other reports your tax position. Confirmation Statements are separate again.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime and chooses to apply it. First-year accounts sometimes need extra care — for example around the accounting reference date, the length of the period covered, and any pre-trading costs or share capital introduced. Because the eligibility rules and exclusions still apply to new companies, it is worth checking the position rather than assuming the regime is available.

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

In practice, you would normally provide your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and purchases, payroll information for employee numbers, a list of assets and liabilities, and anything relevant to significant or unusual transactions such as asset purchases, loans or director's transactions. If your company has more complex features, tell us early — that helps confirm whether the micro-entities regime is still appropriate and what additional information might be needed.