─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Swanage

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. For a small company in Swanage, that choice affects how the profit and loss account, balance sheet and notes are presented, and it can keep the accounts short, straightforward and focused on the essentials. Professional preparation helps make sure the accounts are built properly from your bookkeeping and records, reflect your company’s own circumstances, and are presented in a way that is consistent with the micro-entities regime rather than a larger reporting framework. Eligibility is not automatic, and it is worth checking the position before the year end rather than assuming it. If you would like support with FRS 105 Micro Entity Accounts in Swanage, we can review your situation, explain what applies to your company and prepare the accounts on that basis.

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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 micro-entities. In plain terms, it sets out a simplified way of preparing annual accounts for companies that fall within the micro-entities regime and decide to use it. When that regime is chosen, FRS 105 applies, and the resulting FRS 105 financial statements tend to be shorter and more streamlined than accounts prepared under a fuller framework such as FRS 102. The standard affects how the balance sheet, profit and loss account and any notes are put together, and it works alongside the underlying rules on what a micro-entity is. It does not change your wider obligations as a company director, and it does not replace your Corporation Tax filing. For a Swanage-based company, the practical benefit is a set of accounts that is proportionate to a small trading operation while still meeting the reporting requirements that go with the regime. The key point is that the regime is a choice available to qualifying companies, not something every small company is automatically placed into.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is designed for companies that qualify for the micro-entities regime and decide to apply it. Qualification is based on size conditions, and 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 during the period. It is important to understand that these conditions are not the whole picture. Other eligibility rules and exclusions can apply, and some companies that appear to be small may fall outside the micro-entities regime for other reasons. Nor is the regime automatic — a qualifying company still has to choose it, and FRS 105 applies only once that choice is made. For directors of small companies in Swanage, the practical approach is to check eligibility against the rules for the specific accounting period, consider whether the regime suits the way the business reports, and then plan the accounts accordingly.

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 Accounts and Accurate Financial Reporting

Accurate FRS 105 Micro Entity Accounts start with accurate records. We work from your bookkeeping, bank information, sales and purchase records, payroll data and any other supporting documents, then prepare financial statements that reflect the company’s transactions for the period and are presented in line with the requirements that apply to the micro-entities regime. Where relevant, we also prepare the annual accounts for filing at Companies House, which is a separate exercise from your Corporation Tax obligations. A CT600 Corporation Tax Return is submitted to HMRC and deals with the company’s tax position, while FRS 105 financial statements deal with the accounting and reporting of the company’s results and position. Keeping those two clearly distinguished avoids confusion and helps ensure that the figures used in each are consistent. Our role is to prepare the accounts carefully and to explain the basis on which they have been drawn up, so you understand what has been reported and why. It is worth noting that the preparation of accounts does not involve review, approval or endorsement by Companies House or HMRC beyond their normal filing and processing functions.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Swanage

If you run a small company in Swanage and want to understand whether the micro-entities regime is right for you, we are happy to talk it through. Tell us about your company, your accounting period, your trading activity and how your records are currently kept, and we can assess your circumstances and explain what would be involved in preparing FRS 105 Micro Entity Accounts. Whether you are a new limited company preparing your first set of accounts, an established business reviewing how your accounts are presented, or a director who simply wants clearer financial reporting, we can help you get organised and work out the next steps. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and the information we would need to move forward.

─── 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 provides a simplified basis for preparing annual accounts, allowing qualifying companies that choose the regime to produce shorter financial statements than would be required under a fuller framework such as FRS 102. It covers how the balance sheet, profit and loss account and any accompanying notes are presented.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and that choose to apply the micro-entities regime. 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. Certain rules and exclusions can affect whether a company qualifies, so meeting the size conditions alone does not automatically mean the regime applies.

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 may choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to prepare accounts under a different framework, and others may not be eligible at all. It is worth confirming the position for your own company rather than assuming which framework applies.

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 produces a more streamlined set of accounts, with fewer disclosure requirements. FRS 102 is a fuller framework used by a much wider range of companies and generally involves more detail in the financial statements. The framework that applies depends on whether the company qualifies for and chooses the micro-entities regime.

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

Annual accounts, including those prepared under FRS 105, are normally filed with Companies House as part of a company's statutory filing obligations. The accounts themselves are prepared by the company or its accountant; Companies House receives and registers the filing rather than reviewing or approving the figures. Filing accounts at Companies House is separate from submitting a Corporation Tax Return to HMRC.

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

Yes. FRS 105 Micro Entity Accounts deal with the accounting and financial reporting of the company's results and position. A CT600 is a separate Corporation Tax Return submitted to HMRC, which deals with the company's tax position for the period. Although the two should be consistent with each other, they are distinct filings made to different bodies for different purposes.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. The size conditions are assessed against the relevant rules for the accounting period in question, and other eligibility rules or exclusions can affect the outcome. It is sensible to check the position early so that your bookkeeping and records are set up in a way that supports the framework you intend to use.

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

Typically we would need your bookkeeping or accounting records for the period, bank and payment records, sales and purchase information, payroll details if you employ staff, details of any assets and liabilities, and information about loans, director's transactions and any other significant items. Having complete and organised records makes the preparation process smoother and helps ensure the figures reported are accurate and properly supported.