─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in South Staffs

If your company qualifies for the UK micro-entities regime and you have chosen to apply it, your statutory financial statements need to be prepared under FRS 105 Micro Entity Accounts — the financial reporting framework written specifically for qualifying micro-entities. For directors in South Staffs, that means simpler financial statements, a shorter set of notes and a reporting format that reflects the size and nature of a genuinely small business. It also means the figures still have to be right, consistent with your underlying records and presented in the way the framework expects. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are pulled together accurately from your bookkeeping, that the disclosure requirements appropriate to a micro-entity are met, and that the accounts are ready for the company’s own filing obligations. Eligibility is not automatic and depends on your company’s circumstances, so the first practical step is usually a straightforward review of your position before any work begins.

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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  
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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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. In plain terms, it is a stripped-back accounting framework for the smallest companies, designed so that the financial statements stay proportionate to the size of the business. Where a company qualifies for the micro-entities regime and decides to use it, FRS 105 is the standard that applies to its annual financial statements. The framework works on a simpler basis than the fuller accounting standards used by larger companies: there are fewer disclosures to prepare, fewer presentational options, and certain measurement simplifications that reduce the amount of judgement and complexity involved. What it does not do is turn accounting into a box-ticking exercise — the accounts still need to reflect the company’s actual income, costs, assets and liabilities properly. For directors across South Staffs running a small limited company, FRS 105 Micro Entity Accounts can mean less paperwork and a clearer set of financial statements, provided the company qualifies and the choice is made deliberately rather than assumed.

Who Can Use FRS 105 in the UK? Eligibility for South Staffs Companies

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Qualifying is a two-stage question: first, whether the company meets the size conditions, and second, whether any other rules or exclusions rule it out. For accounting periods beginning on or after 6 April 2025, the size test generally requires a company 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 eligibility, because the regime also excludes certain types of company and additional requirements can apply depending on the company’s nature and history. For directors in South Staffs, the practical approach is to look at the company’s actual figures, its legal form and what it does, then decide whether the micro-entities regime is available and appropriate. Where it is, FRS 105 Micro Entity Accounts can keep the financial statements proportionate to the size of the business. Where it is not, another framework will be the right answer.

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 and Accurate Financial Reporting

FRS 105 Micro Entity Accounts are built from the company’s own financial records — bookkeeping, invoices, bank transactions, payroll information, asset purchases and the prior year’s figures. Our role is to take that information, apply the recognition and measurement approach set out in FRS 105, and produce financial statements that are internally consistent, clearly presented and aligned with the framework your company has chosen. That includes preparing the balance sheet, the profit and loss account and the limited notes required of a micro-entity, and reviewing the figures for obvious gaps or inconsistencies before they are finalised. It is worth being clear about the separate pieces of the jigsaw: the FRS 105 financial statements are the statutory accounts, while the Corporation Tax Return (CT600) is a distinct filing submitted to HMRC, and a Confirmation Statement is a further, different Companies House requirement. We can help with the accounts side and, where you need it, coordinate the tax position so the two tell a consistent story — without making assumptions about your company’s eligibility or the outcome of any filing.

ICAEW

ACCA

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Talk to Us About Your FRS 105 Micro Entity Accounts in South Staffs

If your company may qualify for the micro-entities regime and you would like your year-end financial statements prepared under FRS 105, get in touch and tell us a little about your business. It helps if you can share your accounting period dates, a summary of your turnover, balance sheet position and employee numbers, the accounting framework used in previous years, and access to your bookkeeping records. From there we can consider your circumstances, confirm whether FRS 105 Micro Entity Accounts look appropriate for your company, and explain what is involved, what we need from you and how we keep the process straightforward. We work with businesses across South Staffs and are happy to answer questions before you commit to anything — clear, transparent pricing and a plain-English explanation of the next steps.

─── 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 is a simplified framework, with a reduced set of disclosure requirements and a more straightforward measurement basis than the standards used by larger companies. When a qualifying company chooses the micro-entities regime, FRS 105 is the standard its annual financial statements are prepared under.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Eligibility is based on size conditions and is also subject to other rules and exclusions, so not every small company will qualify. It is also a choice: a qualifying company may instead use another framework, such as the small companies regime under FRS 102 Section 1A.

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 the 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 these size conditions alone does not automatically mean a company qualifies, because additional rules and exclusions can apply — for example, certain company types are not eligible for the regime. It is worth checking your specific circumstances rather than assuming.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies can choose to apply it, but it can also choose a different applicable framework. The important point is that the choice should be made deliberately, because it affects how the financial statements are prepared, what disclosures are included, and how the accounts compare with previous years.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the fuller UK accounting standard, and its Section 1A sets out the small companies regime. FRS 105 is more streamlined still. Micro-entity accounts prepared under FRS 105 typically carry far fewer notes, use a simpler measurement basis and avoid some of the options and judgements that FRS 102 allows. The trade-off is less flexibility in presentation and disclosure, which is why the framework needs to suit the company's circumstances.

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

Yes. Choosing FRS 105 changes the framework your financial statements are prepared under, not the requirement to file statutory accounts. A company using FRS 105 Micro Entity Accounts still files its accounts with Companies House in the normal way, subject to the filing requirements that apply to it. The framework used affects the content and format of what is filed rather than whether a filing is needed.

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

Yes, they are two distinct things. The FRS 105 financial statements are the company's statutory accounts, prepared under the micro-entities regime and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, and the taxable profit on it can differ from the accounting profit in the accounts because of tax adjustments. A Confirmation Statement is a separate Companies House filing again, and does not contain the accounts.

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

In practice we need your accounting period dates, bookkeeping or ledger records, bank statements, sales invoices and purchase records, payroll and employee number information, details of any assets bought or sold, loan and director's account balances, and the previous year's accounts if available. Having these ready makes the preparation of the financial statements smoother and reduces the number of follow-up questions, particularly for a first year under FRS 105.