─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Southam

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities choosing to use the UK micro-entities regime. For a small limited company in Southam, that can mean shorter, simpler financial statements with a reduced level of disclosure compared with other reporting frameworks, but it still requires accurate figures, sensible judgements and a clear understanding of what the framework does and does not allow. Professional preparation helps to ensure your FRS 105 Micro Entity Accounts reflect your company’s actual circumstances, are built from properly maintained records, and are presented consistently from one year to the next. It also helps you avoid common pitfalls such as applying simplifications in the wrong places or overlooking the eligibility rules and exclusions that sit alongside the size criteria. Whether you are newly incorporated or have traded for years, the starting point is a straightforward conversation about your company and its reporting needs.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 Micro-Entities Regime in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for, and choose to apply, the micro-entities regime. In plain terms, it is a simplified accounting framework: it focuses on straightforward recognition and measurement, limits the use of fair value adjustments, and reduces the volume of notes that normally accompany a set of statutory accounts. The result is FRS 105 financial statements that are easier to read and cheaper to prepare, which is often why small companies in Southam opt for them. The important point is that the micro-entities regime is a choice, not an automatic entitlement. A company must first meet the qualifying size conditions and satisfy the relevant rules and exclusions, and it is only when that regime is actually adopted that FRS 105 applies. If a company does not qualify, or decides the framework does not suit its circumstances, a different reporting standard will be needed. Our role is to help you work out which framework fits, explain the practical differences, and then prepare the accounts properly on that basis.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to apply it. The starting point is the size test: 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. Meeting those conditions is necessary but not always sufficient. Other eligibility rules and exclusions apply, and some types of company cannot use the regime regardless of how small they are. There are also practical considerations: a company may qualify yet still prefer a fuller framework, for example where there are complex transactions or where lenders or investors expect more disclosure. For a company in Southam, the sensible approach is to review your figures and your circumstances before deciding whether FRS 105 Micro Entity Accounts are the right fit, rather than assuming the regime applies automatically because your company is small.

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 is not simply a matter of copying last year’s figures. The accounts need to be built from your company’s financial records — bookkeeping, bank and credit card transactions, sales and purchase invoices, payroll information, asset details and any relevant agreements — and then checked against the recognition, measurement and disclosure requirements that apply under FRS 105. Some items that are permitted or required under other frameworks are treated differently here, so experience with the micro-entities regime matters. We prepare the financial statements themselves, including the balance sheet, any accompanying notes and the statements required for a small company, and we handle the separate step of filing the accounts with Companies House. That filing is a distinct process from your Corporation Tax obligations: a CT600 is a tax return submitted to HMRC, while the accounts are the financial statements that report your company’s position and performance. Keeping the two clearly separated helps avoid confusion and missed steps, and it means your figures stay consistent across everything you submit.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with your FRS 105 Micro Entity Accounts, the best next step is a conversation. Tell us about your company — what it does, how long it has been trading, roughly how it is structured, and whether you already prepare accounts or are starting from scratch. It also helps to know which records you keep and how you currently manage bookkeeping, payroll and VAT, because that shapes how quickly and smoothly the accounts can be put together. We will explain how eligibility for the micro-entities regime works, what FRS 105 means in practice for your financial statements, and how the accounts fit alongside your other filing and tax responsibilities. From there we can talk through the options available to you and recommend a clear, practical route forward, with transparent pricing and no obligation to proceed until you are comfortable.

─── 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 companies that qualify for, and choose to apply, the micro-entities regime. It is deliberately simplified: it keeps recognition and measurement straightforward, does not allow fair value accounting for most items, and requires far fewer notes than other frameworks. The aim is to give very small companies a proportionate way to produce statutory financial statements without the complexity of a full reporting standard.

Who can use FRS 105?

It is available to companies that meet the micro-entity size conditions and satisfy the associated rules and exclusions, provided they choose to adopt the micro-entities regime. Some entities are excluded regardless of size — for example, certain regulated and financial-sector companies. Meeting the size tests alone does not guarantee eligibility, so it is worth checking your specific circumstances before deciding on the framework.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an obligation. A qualifying company may choose to apply it and prepare FRS 105 Micro Entity Accounts, or it may use a different framework such as FRS 102. The right choice depends on factors like the level of detail directors and lenders want, the presence of more complex transactions, and whether the simplifications of FRS 105 actually suit the business.

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. These are size tests only — other rules and exclusions can still apply, so meeting two of the three conditions is not on its own a confirmation that the micro-entities regime is available to your company.

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 simplified recognition and measurement and minimal disclosure. FRS 102 is a fuller standard used by a much wider range of companies: it permits or requires fair value treatment in more situations, includes more accounting policy choices, and demands substantially more disclosure in the notes. In short, FRS 105 is lighter, while FRS 102 gives a richer picture of the business.

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

A limited company with an accounts filing obligation must send its annual accounts to Companies House, and where the micro-entities regime has been adopted, those are the FRS 105 financial statements. Preparing the accounts and filing them are two parts of the same process, but they are separate steps, and the accounts must also be approved and signed appropriately before submission. It is worth confirming the current filing requirements that apply to your company each year.

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

Yes, they are separate. The FRS 105 Micro Entity Accounts are the financial statements that report your company's financial position and performance, and they are filed with Companies House. A CT600 is a Corporation Tax return submitted to HMRC. The accounts usually provide the starting point for the tax computations behind the return, but the two are different documents with different purposes and different submission routes, so both need to be dealt with.

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

Typically we need your accounting records for the period, including sales and purchase information, bank and credit card statements, expense receipts, payroll or director remuneration details, and a list of assets the company owns. Details of any loans, leases or share changes are also helpful, along with the previous year's accounts for comparison. If your bookkeeping is already tidy and up to date, the process is usually more efficient, but we can work with you to fill in gaps.