─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Stony Stratford

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — a simplified reporting framework available to companies that qualify as micro-entities and choose to apply it. In Stony Stratford, many small limited companies find that FRS 105 keeps their reporting straightforward, focusing on the figures that matter without the additional disclosures required under larger reporting frameworks. Professional preparation can help ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s circumstances, based on the records you keep and the reporting requirements that apply to you. Because eligibility depends on more than turnover alone, it is worth reviewing your position carefully each year before deciding whether FRS 105 remains the right fit.

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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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is a simplified accounting framework that qualifying companies may choose to adopt instead of a fuller reporting standard such as FRS 102. In plain terms, if your company qualifies as a micro-entity and you decide to use the micro-entities regime, then FRS 105 is the standard that applies to your accounts — and it applies because that regime has been chosen, not automatically. FRS 105 financial statements tend to be shorter and more direct: the profit and loss account and balance sheet are prepared on a simplified basis, with far fewer notes and disclosures than you would see under other frameworks. For a small company in Stony Stratford, that can mean cleaner, more readable accounts that still report the position and performance of the business. It is worth remembering that choosing the micro-entities regime affects how your accounts are prepared and presented; it does not replace your other obligations, such as filing a Confirmation Statement or dealing with Corporation Tax.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies 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. Those tests are a starting point rather than the whole picture — other eligibility rules and exclusions can apply, and certain company types may be prevented from using the regime regardless of their size. There is also a difference between qualifying and choosing: a company that qualifies is not obliged to apply the micro-entities regime, and some directors decide that a fuller reporting framework better suits their circumstances. If you run a small limited company in Stony Stratford, the sensible approach is to check your position against the current criteria each year, confirm nothing excludes you, and then decide whether FRS 105 is the right basis for your accounts.

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 — bookkeeping, invoices, bank transactions, payroll information and any asset or liability details — and turns them into a set of financial statements presented in line with the micro-entities regime. The work typically covers drafting the profit and loss account and balance sheet, applying FRS 105’s simplified measurement and disclosure requirements, and making sure the accounts are internally consistent and clearly presented for the reader. It is important to keep the different obligations separate: the preparation of your financial statements and their filing at Companies House is one thing, while your Corporation Tax position and the submission of a CT600 to HMRC is another, governed by different rules and deadlines. A professional accountant can prepare the accounts from the information you provide, explain the choices available to you, and highlight the areas where your records may need tidying up before the figures are finalised. What this does not mean is a guarantee of any particular outcome — the accuracy of the accounts depends on the information supplied, and responsibility for filing remains with the company and its directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Stony Stratford

If you are unsure whether your company qualifies for the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared properly, get in touch to talk it through. Tell us about your business — its structure, trading activity, accounting period and the records you currently keep — along with what you are hoping to achieve this year. With that information we can assess your circumstances, explain how FRS 105 works in practice and set out clear, transparent pricing for the work involved. Whether you are preparing accounts for the first time or reviewing how they have been handled previously, a short conversation is usually the quickest way to get clarity.

─── 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 is the standard that applies when a qualifying company chooses to use the micro-entities regime, and it allows for simplified financial statements — a shorter profit and loss account and balance sheet with far fewer notes and disclosures than frameworks such as FRS 102 require.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Qualification is based on size conditions, and other rules and exclusions can also affect whether a company is eligible. Meeting the size thresholds does not automatically mean a company must — or may — use FRS 105; the regime is an option that qualifying companies can choose.

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. Additional eligibility rules and exclusions can apply, so the tests should always be checked against your specific circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies as a micro-entity may choose to apply the regime, and FRS 105 applies when that choice is made. Some qualifying companies instead prepare accounts under a fuller framework, often because of the way they are structured, who uses their accounts, or the level of detail they want to report.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in depth. FRS 105 is designed for micro-entities and permits a very simplified set of financial statements with minimal disclosures. FRS 102 is a fuller framework used by a much wider range of companies, and it generally requires more detailed accounting treatment and a greater number of notes to the accounts.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts generally form the basis of what the company files at Companies House, alongside any other filings the company is required to make. Filing accounts is a separate obligation from filing a Confirmation Statement, and separate again from Corporation Tax.

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 regime. A CT600 is a Corporation Tax Return submitted to HMRC, and it is a distinct filing with its own rules and deadlines. The figures in your accounts often inform the tax return, but preparing accounts and preparing a CT600 are two separate pieces of work.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll details, and any asset, loan or liability information. Details of the previous year's accounts are also useful. If anything is missing, it can usually be identified early in the process so the figures can be prepared on a sound basis.

Are the filing requirements for micro-entity accounts changing?

The way accounts are filed is evolving, with a move towards filing accounts in a digital, tagged format rather than as flat documents. Because the practical effect depends on your accounting period and the filings you make, it is worth reviewing your position with an adviser before your next set of accounts is due.