─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Swindon

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime for companies that qualify for it and choose to apply it. In Swindon, many small limited companies find that this simpler reporting framework suits the way they operate, because FRS 105 focuses on the essentials: a concise balance sheet, a small number of disclosure notes, and a profit and loss account that does not have to be filed at Companies House in the same way as larger-company accounts. Whether the framework is the right fit depends on your company’s size, structure and any exclusions that may apply, so eligibility should always be checked rather than assumed. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are built accurately from your bookkeeping records, presented consistently with the micro-entities regime, and prepared in the way that best reflects your company’s particular circumstances.

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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 Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard that sits behind micro-entity accounts. It applies to companies that qualify for the micro-entities regime and decide to use it. In plain terms, FRS 105 is deliberately stripped back: it allows a simplified balance sheet, limited notes to the accounts, and a simpler measurement approach than the fuller standards used by larger companies. The idea is that a genuinely small company should not need to produce the same volume of detail as a much bigger business. The regime is optional rather than automatic — a qualifying company can choose to apply it, and if it does, FRS 105 is the framework that governs those accounts. If the regime is not chosen, or the company does not qualify, other frameworks such as FRS 102 would normally come into play. Getting that choice right matters, because it shapes how your profit, assets, liabilities and disclosures are presented.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is intended for 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. Meeting those size tests is an important part of the picture, but it is not the whole test. Other eligibility rules and exclusions can apply, and certain companies — for example those forming part of an ineligible group, or falling within another excluded category — cannot use the regime regardless of their size. Qualification also does not compel a company to adopt the regime; it remains a choice. For Swindon companies weighing up FRS 105 Micro Entity Accounts, the sensible approach is to review the specific facts rather than rely on size alone.

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 figures from your bank statements into a template. The accounts need to be built from your underlying financial records — sales, expenses, assets, liabilities, stock where relevant, and any loans or director balances — and then presented in line with the reporting requirements that apply to the micro-entities regime. Our role is to work through those records with you, prepare a balance sheet and supporting notes that reflect your company’s position, and make sure the figures hang together before anything is finalised. Accounts preparation and Companies House filing are handled as one piece of work, while your Corporation Tax obligations are dealt with separately: a CT600 is a distinct submission to HMRC based on the company’s taxable profits, not the same document as your statutory accounts. We will explain clearly which tasks belong where so nothing is missed.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If your Swindon company may qualify for the micro-entities regime, the sensible next step is a straightforward conversation about where you stand. Tell us a little about your company — its size, how it is structured, what it does, and whether this is your first set of accounts or an ongoing arrangement — and share your bookkeeping records, bank information and any details of assets, loans or director transactions. With that in hand we can assess whether FRS 105 Micro Entity Accounts are likely to be appropriate for your circumstances, explain what is involved, and set out clear, transparent pricing for the work. If FRS 105 is not the right fit, we will tell you that too, and talk through the alternatives.

─── 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 micro-entity accounts. It sets out how qualifying companies that choose the micro-entities regime prepare their financial statements, allowing a simplified balance sheet format, restricted notes and a lighter measurement basis than the fuller standards used by larger companies. It is a reporting framework, not a tax regime, so it governs how your accounts look rather than how much tax your company pays.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualification depends on meeting the relevant size conditions and not falling into any excluded category. Being small enough is necessary but not by itself sufficient — some companies are excluded from the regime regardless of size, so eligibility should be checked against your own 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 qualifying company can choose to apply it, and FRS 105 applies when that choice is made. A company that qualifies might instead prepare accounts under a fuller framework such as FRS 102, depending on the preferences of its directors, its shareholders, or requirements imposed by lenders or other parties.

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 following 3 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 conditions rather than a complete test — the relevant rules and exclusions still apply, and certain companies are ineligible for the regime whatever their size. It is worth confirming your position before assuming FRS 105 applies.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the fuller financial reporting standard used by most companies that are not applying the micro-entities regime or another specialised framework. It generally requires more detailed disclosures and a broader set of measurement and recognition rules. FRS 105 is much more streamlined: fewer notes, simpler presentation and a narrower set of requirements. The trade-off is that FRS 105 gives you less flexibility and less room for judgement in how items are presented, which is why it suits genuinely small, straightforward companies best.

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

Yes. Where FRS 105 Micro Entity Accounts are prepared for a company that is required to file statutory accounts, those accounts still need to be delivered to Companies House. The micro-entities regime simplifies what the accounts contain and, in the case of the profit and loss account, what has to be filed — it does not remove the filing obligation itself. The deadline that applies is the one set for your company, so it is worth planning ahead rather than leaving it to the last moment.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which reports the company's taxable profits and is calculated using tax rules rather than accounting presentation. The figures in your accounts usually form the starting point for the return, but adjustments may be needed, so the two should be prepared with both in mind.

Can a new limited company use FRS 105?

A newly incorporated company can apply the micro-entities regime if it qualifies and chooses to do so — being new does not automatically rule it out. New companies often have low turnover and few employees, but other factors matter too, including the company's structure and whether any exclusions apply. If you are unsure, the practical approach is to discuss your first set of accounts before you start trading in earnest, so your records are kept in a way that makes preparation straightforward.

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

In most cases we would need your bookkeeping records or a summary of income and expenses, bank statements, details of any assets owned by the company, information on loans, overdrafts and director's loan account movements, and confirmation of any stock or work in progress at the period end. It also helps to know whether anything unusual happened during the year — a large purchase, a change in ownership, or a new borrowing arrangement. The more complete the records, the more efficient the preparation process tends to be.