─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in St Boswells

FRS 105 Micro Entity Accounts give qualifying companies in St Boswells a simpler, more proportionate way to prepare and report their financial statements. FRS 105 is the financial reporting standard linked to the UK micro-entities regime, and it applies when a company both qualifies for that regime and chooses to use it. Choosing FRS 105 is not automatic, and it will not suit every business — the decision depends on your company’s size, its structure, and whether any exclusions or restrictions apply. Professional preparation helps you work through those questions properly, so the accounts reflect your actual financial records and are put together in line with the framework you have selected. Working with someone who handles FRS 105 Micro Entity Accounts regularly means the figures, disclosures and presentation are considered carefully from the outset, rather than being fitted to a generic template. Whether you are preparing accounts for the first time or moving across from a different reporting framework, the aim is straightforward: clear, accurate micro-entity accounts that make sense for your company.

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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: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard designed for companies that qualify as micro-entities. In plain terms, it is a stripped-back accounting framework: it allows a much shorter set of financial statements than larger companies produce, with simplified measurement rules and limited disclosure requirements. The UK micro-entities regime is the set of rules that determines which companies are small enough to use it — and FRS 105 is the standard those companies apply once they decide to adopt the regime. It is important to understand the two stages here. Qualifying for the micro-entities regime does not oblige a company to use it; the regime is available rather than imposed, and a qualifying company can instead choose a different framework. FRS 105 only comes into play when the micro-entities regime is the chosen route. For directors of small companies in St Boswells, that distinction matters, because the framework you pick shapes how your profit, assets and liabilities are measured and how much detail appears in your accounts. Understanding the basics before you commit helps you make a decision you are comfortable with.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Eligibility is a two-part test: you need to fall within the size limits and you need to avoid any of the exclusions that would put the regime out of reach. 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. That is a useful starting point, but it is not the whole picture. Certain companies are excluded from the micro-entities regime regardless of their size, and other rules can affect whether a company qualifies, which is why meeting the size thresholds alone does not automatically guarantee eligibility. If you run a company in St Boswells and are considering FRS 105 Micro Entity Accounts, the sensible approach is to review your specific circumstances against the current rules before deciding, and to reassess each year as your turnover, balance sheet and headcount change.

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

Accurate financial reporting starts with accurate records, and that is where well-prepared FRS 105 Micro Entity Accounts begin. We work from your company’s bookkeeping, bank records, invoices and supporting documents to build a set of financial statements that reflects what actually happened in the period, presented in line with the micro-entity framework you have chosen. Where relevant, that includes preparing the balance sheet, profit and loss account and any notes required, then handling the Companies House filing of those accounts as a separate exercise from your Corporation Tax position. It is worth keeping the two clearly apart: FRS 105 accounts are the statutory financial statements, while a Corporation Tax Return (CT600) is a distinct filing submitted to HMRC, and a Confirmation Statement is a further, separate requirement. We can talk you through how each piece fits together for your company in St Boswells, based on the information you provide. No two sets of FRS 105 Micro Entity Accounts are identical, so the preparation is tailored to your circumstances rather than produced as a one-size-fits-all document.

ICAEW

ACCA

AAT

Need Help With Your FRS 105 Micro Entity Accounts in St Boswells?

If you would like support with your FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting period, your current bookkeeping arrangements and whether you are already using the micro-entities regime or considering it for the first time. From there, we can look at your circumstances, explain what FRS 105 would involve for a company like yours, and let you know what information we would need to prepare your accounts. If you are unsure whether your company qualifies, or whether FRS 105 is the right framework compared with the alternatives, that is exactly the kind of question worth asking early. Get in touch to discuss your requirements and find out how we can help you move forward with confidence.

─── 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 as micro-entities and choose to apply the micro-entities regime. It sets out how their financial statements should be measured and presented, and it allows a considerably shorter and simpler set of accounts than the frameworks used by larger companies. In practice, it means fewer disclosures and simplified measurement rules, which suits very small companies that do not need the level of detail a fuller framework would require.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an obligation. A company that qualifies is entitled to use it, but it can also choose a different framework if that better suits its circumstances — for example where a lender, investor or group parent wants more detailed reporting. FRS 105 applies when the micro-entities regime is the route the company has chosen, so eligibility and election are two separate things.

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 those size conditions is necessary but not always sufficient. Other eligibility rules and exclusions can apply depending on the company's nature and activities, so the criteria should be checked against your specific situation rather than assumed.

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-entity standard and is deliberately minimal, with simplified measurement and very limited disclosure. FRS 102 is the standard generally used by small and larger entities, and it requires fuller recognition, measurement and disclosure — including things such as deferred tax and certain financial instrument treatments that FRS 105 does not. Choosing between them affects how your figures are measured and how much has to be disclosed, so it is worth considering before you prepare a set of accounts.

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

Yes. Where a company prepares FRS 105 Micro Entity Accounts, those statutory accounts are the ones filed at Companies House for the relevant accounting period, using the micro-entity accounts filing option. Filing accounts is a separate requirement from your Corporation Tax Return and from your Confirmation Statement, and each has its own route and its own information. Preparing the accounts and submitting them are two distinct steps, and it helps to treat them as such so nothing is missed.

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

They are separate filings. FRS 105 accounts are the statutory financial statements prepared under the micro-entity framework, while the CT600 is the Corporation Tax Return submitted to HMRC to report your company's taxable profit and calculate what tax is due. The accounts usually provide the starting point for the tax computation, but they are not the same document and they are not sent to the same place. Keeping the two clearly distinguished helps you avoid confusion over what is due to whom.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime in its first accounting period and chooses to apply it. In practice, a new company with modest turnover, a modest balance sheet total and few or no employees often will qualify, but that is not guaranteed simply because the company is new. Eligibility is based on the size conditions and any relevant exclusions, so the position should be checked before the accounts are prepared.

What information is needed to prepare FRS 105 accounts?

Typically you would need your bookkeeping records or a trial balance for the period, bank statements and reconciliations, sales and purchase records, details of any assets and liabilities, stock or work in progress figures where relevant, and information on any loans, director balances or share capital movements. If you are moving to FRS 105 from another framework, opening balances and prior period figures are also useful. The exact list depends on how your company operates and what the micro-entity framework requires in your case, so it is worth confirming the details before preparation begins.