─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shrewsbury Shropshire

If your company qualifies for the UK micro-entities regime and you have chosen to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your annual accounts. FRS 105 is the standard written specifically for micro-entities, allowing eligible companies to prepare simpler, shorter financial statements than those required under larger reporting frameworks. For directors in Shrewsbury Shropshire, the practical benefit is a set of accounts that reflects the company’s actual circumstances without unnecessary complexity. Professional preparation helps to make sure the figures are drawn correctly from your bookkeeping records, that the disclosures expected under FRS 105 are included, and that the accounts are consistent with the information you report elsewhere. It also helps you avoid common pitfalls, such as applying the micro-entities regime when your company does not in fact meet the eligibility conditions, or preparing accounts in a format that does not match the framework you have chosen. Whether you are preparing your first set of accounts or reviewing an existing approach, we can work with you to prepare FRS 105 Micro Entity Accounts that are clear, accurate and appropriate for a qualifying company based in Shrewsbury Shropshire.

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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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard that sits within the micro-entities regime. In simple terms, it is the rulebook used to prepare and present the annual accounts of a company that qualifies as a micro-entity and has chosen to apply that regime. Under FRS 105, the financial statements are deliberately streamlined: the emphasis is on a straightforward balance sheet, a simple profit and loss account and a limited set of notes, rather than the fuller disclosure you would expect under a larger framework. This makes it attractive to owner-managed companies in Shrewsbury Shropshire that want their accounts to be readable and proportionate to the size of the business. Two points are worth being clear about. First, the micro-entities regime is a choice available to qualifying companies — it is not something that applies automatically simply because a business is small. Second, FRS 105 is the standard that applies when that regime is used; if a company does not qualify, or decides not to use the regime, a different framework such as FRS 102 will normally apply instead. FRS 105 Micro Entity Accounts deal with accounting and financial reporting. They are separate from Corporation Tax returns and from other company filings, although the figures in your accounts will often be the starting point for the tax position you report.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not simply a matter of being a small business — the regime has its own size conditions and a set of rules and exclusions that can rule certain companies out. 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 does not automatically confirm eligibility on its own, because other criteria and specific exclusions may apply, and some entities are unable to use the regime at all. Even where a company does qualify, applying the micro-entities regime remains a choice rather than an obligation, and FRS 105 applies when that choice is made. For directors in Shrewsbury Shropshire, the sensible approach is to review the company’s turnover, balance sheet and employee numbers alongside the wider eligibility rules, and take advice where the position is unclear — particularly for groups, companies with more complex arrangements, or businesses close to the thresholds.

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

Preparing FRS 105 Micro Entity Accounts starts with your financial records: the bookkeeping, bank and expense information, sales and purchase records, and any asset and liability details that sit behind the figures. From there, the accounts are built in line with FRS 105 and the disclosure requirements that apply to micro-entities, so that the balance sheet, profit and loss account and supporting notes are presented consistently and clearly. Where a company has chosen the micro-entities regime, the accounts also need to reflect that decision properly, including the statements expected when the regime is applied. It is worth separating the different obligations involved. Your FRS 105 accounts are the financial statements prepared for the company and, in most cases, filed at Companies House as part of the annual accounts requirement. A Corporation Tax Return (CT600) is a separate submission made to HMRC, and a Confirmation Statement is a further, distinct filing. Keeping these elements distinct helps ensure nothing is overlooked and that the figures used across them tell a consistent story. Our role is to prepare accounts accurately from the information you provide and in line with applicable reporting requirements — not to promise a particular filing outcome, but to do the work properly, explain what is needed, and give you a set of accounts you can rely on.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Shrewsbury Shropshire

If you would like help with your FRS 105 Micro Entity Accounts, the best place to start is a straightforward conversation about your company. Get in touch and tell us about your business, your accounting period, and how you currently keep your records. It also helps to share your latest set of accounts if you have one, along with details of your bookkeeping, any fixed assets, and the filings you already make. From there we can look at whether the micro-entities regime is likely to be available to you, what information is still needed, and how your FRS 105 Micro Entity Accounts can be prepared to suit your circumstances. Whether you are newly incorporated in Shrewsbury Shropshire or have been trading for years, we will explain the process in plain English and answer your questions before anything is prepared.

─── 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 how a qualifying company that has chosen to apply the micro-entities regime prepares and presents its annual accounts, using a simplified balance sheet, a simple profit and loss account and limited notes. It is one of several reporting frameworks in the UK, and it sits alongside — but is different from — FRS 102, which applies more widely to companies that are not micro-entities.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than an automatic requirement. A company that qualifies may choose to apply it, in which case FRS 105 applies to its accounts. Equally, a qualifying company may decide not to use the regime, in which case a different framework will normally be used. The decision is usually made with the directors' wider needs in mind, including how the accounts will be used by lenders, investors or other interested parties.

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 is not the whole picture, however — other eligibility rules and exclusions apply, and some companies are excluded from the regime regardless of size. Eligibility should therefore be assessed on the specific facts of the company.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main financial reporting standard for UK companies and applies to a much wider range of businesses. FRS 105 is a distinct, simpler standard available only to companies that qualify for the micro-entities regime and choose to use it. The practical differences show up in the level of disclosure, the presentation of the accounts, and the accounting treatments permitted. FRS 105 accounts are shorter and more streamlined, while FRS 102 accounts typically include more extensive notes and more detailed accounting requirements.

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

In most cases, a company must file annual accounts at Companies House, and where the company has chosen the micro-entities regime those accounts will be prepared under FRS 105. The accounts filed are usually accompanied by the required statements relating to the micro-entities regime. Filing methods and requirements do change from time to time, so it is worth checking the current position before you file. Filing annual accounts is a separate exercise from submitting a Corporation Tax Return to HMRC.

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

Yes. FRS 105 accounts are the company's financial statements, prepared under the micro-entities reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's tax position. They are separate filings with separate purposes, although the figures in your accounts usually form the starting point for the tax computation. Preparing both together can help keep the numbers consistent and reduce the risk of discrepancies between what you report to Companies House and what you report to HMRC.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies for the micro-entities regime and the directors choose to apply it. In the first period of trading, the assessment is usually based on the company's position in that period, and for a brand new company the figures are often modest. That said, eligibility still depends on the full set of rules, including any exclusions that might apply. If you are unsure how this works for a first set of accounts, it is worth taking advice before the accounts are prepared.

What information is needed to prepare FRS 105 accounts?

As a starting point, we would normally need your bookkeeping or accounting records for the period, bank statements, sales and purchase information, details of any assets and liabilities, and information on director's loans, share capital and any other balances in the accounts. If you have previous accounts or a trial balance, that helps too. Providing complete and accurate records makes the preparation of FRS 105 Micro Entity Accounts smoother and reduces the number of follow-up queries.

Are the rules around micro-entity accounts filing changing?

The way small and micro-entity accounts are filed at Companies House has been evolving, with an increasing emphasis on filing through software rather than manually re-keying figures, and joint filing of accounts and tax information is an area that has been developing. Because the practical arrangements and accepted filing methods can change, it is sensible to confirm the current requirements before each filing rather than relying on how things were done in previous years.