─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Stamford

FRS 105 Micro Entity Accounts in Stamford are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. FRS 105 is a distinct accounting standard, and it is not simply a trimmed-down version of the accounts prepared under other frameworks — it comes with its own recognition, measurement and disclosure requirements, along with a simplified format for the balance sheet and profit and loss account. Professional preparation helps ensure the accounts reflect your company’s actual circumstances, that the figures are drawn correctly from your underlying financial records, and that the disclosures included are appropriate to the framework being applied. It also helps you consider whether the micro-entities regime remains the right choice for your company, since eligibility and the suitability of the regime can change as a business grows. Whether you are a sole director company in Stamford, a small family-run trading business, or a consultancy working from home, the aim is straightforward, accurate financial statements that meet the requirements of the framework you have chosen.

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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: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for the micro-entities regime — the smallest category of company recognised under UK company law. If a company qualifies and its directors decide to use that regime, FRS 105 is the standard it applies when preparing its annual financial statements. The thinking behind it is simplification: fewer accounting policy choices, a shorter format for the balance sheet and profit and loss account, and a much lighter set of notes than you would typically see under other frameworks. In practice, that can make annual accounts quicker and easier to produce, and easier for a reader to follow. It also means some items are treated differently from the way they would be under other standards, so the choice of framework is worth thinking about rather than treating as a formality. Qualifying for the micro-entities regime does not compel a company to use it, and FRS 105 does not apply automatically — it applies when the regime is chosen. For a Stamford company weighing up its options, the practical question is usually whether the simplicity of the micro-entities regime suits how the business is financed, owned and managed, now and over the next couple of years.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies in the UK that qualify for the micro-entities regime and choose to apply it. 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 is an important part of the picture, but it does not automatically mean a company is eligible. The legislation also includes exclusions and other rules that can rule certain companies out, and a company that qualifies still has a choice about whether to use the regime at all. For a Stamford company, the practical way to approach this is to look at the actual figures for the relevant period alongside the company’s structure and activities, and to confirm the position before assuming the micro-entities regime applies. Where eligibility is borderline, or where the company is close to a threshold, it is worth reviewing the position each year rather than treating the framework as fixed.

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 bookkeeping and financial records — bank transactions, sales and purchase records, payroll information, asset purchases, loans and director balances — and turns them into a set of financial statements presented in the format the framework requires. That means the balance sheet, the profit and loss account and the supporting notes are built from your figures, with the accounting treatments and disclosures considered in light of FRS 105 rather than a different standard. It is worth being clear that the statutory accounts and your Corporation Tax position are separate matters: the accounts are prepared under the applicable financial reporting framework, while the Corporation Tax Return (CT600) is submitted to HMRC and deals with taxable profits, allowances and reliefs under tax rules. Filing the accounts with Companies House is also its own step, distinct from both, and a Confirmation Statement is a further separate filing. Working with an accountant on your FRS 105 Micro Entity Accounts in Stamford gives you a chance to discuss what your figures actually show, flag anything that looks unusual, and make sure the information you file is consistent with the records behind it. It is assurance of a sensible, well-documented preparation process — not a guarantee of any particular outcome.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Stamford

If your company is considering FRS 105 Micro Entity Accounts, or you are already using the micro-entities regime and want the preparation handled properly, the next step is a straightforward conversation. Tell us a little about your company — what it does, how it is structured, when your accounting period runs and who your shareholders and directors are — along with the financial records you keep and any deadlines you are working towards. From there we can look at whether the micro-entities regime is likely to suit your circumstances, talk through how your accounts would be prepared, and explain clearly what information we would need from you and when. There is no obligation and no jargon: just a practical discussion about your FRS 105 Micro Entity Accounts and the best way to approach them.

─── 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 fewer accounting policy options, a shorter statutory format for the balance sheet and profit and loss account, and reduced disclosure requirements compared with other standards. It applies when a qualifying company chooses to use the micro-entities regime — FRS 105 is the standard that then governs how the accounts are prepared.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Eligibility is not automatic. 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. Other rules and exclusions can also affect eligibility, so the size conditions alone do not settle the question — for example, certain types of company are excluded regardless of size.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than a mandatory one. A company that qualifies may choose to apply it, or it may decide to prepare its accounts under a different framework instead. Some businesses prefer a fuller framework because of how they are financed, who their shareholders are, or what lenders and investors expect to see. The decision belongs to the directors, and it is worth reviewing as circumstances change.

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-entities standard and is the more simplified of the two. FRS 102 is the wider standard used by many small and medium-sized companies, including those taking advantage of the small companies regime. FRS 102 offers more accounting policy choices and requires more disclosures, and some items — such as certain fair value or revaluation treatments — are handled differently. Moving between the two frameworks is possible, but it should be considered properly because it can affect the figures reported.

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

Statutory accounts are filed with Companies House in the usual way, following the filing requirements that apply to your company. Preparing FRS 105 Micro Entity Accounts is about which financial reporting framework is used to draw up those accounts. Filing with Companies House is a separate administrative step, and it is distinct from both your Corporation Tax obligations and your Confirmation Statement. It is worth keeping the deadlines for each of these in view, as they are separate filings.

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

Yes, they are separate. FRS 105 accounts are the company's statutory financial statements, prepared under the accounting framework that applies. The CT600 is a Corporation Tax Return submitted to HMRC, which deals with taxable profits, capital allowances and reliefs under tax rules rather than accounting standards. The two are related in the sense that the accounts usually form the starting point for the tax computation, but they are prepared for different purposes and filed with different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can consider the micro-entities regime if it meets the eligibility conditions for its accounting period. Many new companies start small, so the framework can be a natural fit, but eligibility depends on the specific rules rather than the fact that the company is new. It is also worth looking ahead: if you expect rapid growth, significant investment, or a more complex ownership structure, it may be simpler to start on a framework you will not need to change soon afterwards.

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

Typically, we would need your bookkeeping records or accounting software access, bank statements covering the accounting period, sales and purchase records, payroll and pension information, details of any loans, hire purchase or lease agreements, asset purchases and disposals, and information about share capital and director balances. Details of stock or work in progress may also be relevant. Having complete records in good order makes the preparation process smoother and helps ensure the accounts reflect what actually happened during the period.