─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Tansley — Clear Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts in Tansley are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to apply the UK micro-entities regime. FRS 105 is not a tax return and it is not an automatic entitlement for every small company: it is an accounting regime available to companies that meet the relevant size conditions and are not excluded from using it. Professional preparation helps ensure your FRS 105 financial statements are put together appropriately for your company’s circumstances, with the figures drawn from your accounting records, the correct accounting policies applied, and the simplified disclosure requirements considered. Whether you are filing micro-entity accounts for the first time or reviewing the framework you currently use, we can help you understand what FRS 105 involves and prepare accounts that present your position clearly and consistently.

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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 the Micro-Entities Regime Means for Your Company in Tansley

FRS 105 is the UK financial reporting standard written specifically for the micro-entities regime. In simple terms, it is the rulebook a qualifying company follows when it prepares its annual financial statements under that regime. The micro-entities regime is an optional accounting framework: a company that falls within the micro-entity size limits can choose to apply it, and when that choice is made, FRS 105 is the standard that governs how the accounts are drawn up. Because the regime is designed to reduce complexity, FRS 105 keeps things relatively straightforward — the accounts are generally prepared on a historical cost basis, there is no revaluation of assets or fair value accounting, deferred tax is not recognised, and the disclosure requirements are lighter than those under other UK standards. That does not mean the accounts are informal or optional to get right: they still need to reflect the company’s financial position and performance accurately, and they still form part of the company’s statutory reporting. If you run a small company in Tansley and are unsure whether FRS 105 Micro Entity Accounts suit your circumstances, it is worth looking at your eligibility, your reporting needs and what your readers — such as lenders, suppliers or HMRC — may expect to see.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility for Companies in Tansley

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that 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 conditions are subject to the relevant rules, so the exact test can depend on the period dates and on how turnover, balance sheet total and employee numbers are measured. It is also important to be clear that meeting the size conditions does not by itself guarantee eligibility. Certain entities are excluded from the micro-entities regime regardless of size, and other eligibility rules can apply — for example, where a company’s circumstances or the nature of its activities fall outside the regime. The regime is also a choice rather than an obligation, so a qualifying company may decide that a different framework better suits its reporting needs. In Tansley and across the UK, the practical answer is to look at the company’s specific facts, its accounting period and who will use the accounts before confirming that FRS 105 Micro Entity Accounts are the right route.

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 in Tansley

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying financial records — bank transactions, sales and purchase invoices, expense receipts, payroll information and any asset or liability details. From there, the figures are compiled into a balance sheet, and where relevant a profit and loss account and notes, in line with the requirements of FRS 105 and the micro-entities regime. A key point to keep in mind is that the different filing obligations are separate from one another. Preparing and filing FRS 105 accounts with Companies House is one exercise; submitting a Corporation Tax Return (CT600) to HMRC is another; and a Confirmation Statement is a further, distinct filing. They draw on overlapping information but they are not the same thing, and deadlines and content differ. We can help prepare your FRS 105 financial statements from the records you provide, explain the basis on which the accounts have been put together, and make clear which figures feed into which filing so nothing is treated as an afterthought.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Tansley

If you would like help with your FRS 105 Micro Entity Accounts in Tansley, get in touch and tell us a little about your company. It helps to know your accounting period dates, what your business does, how your records are currently kept, whether you have prepared micro-entity accounts before, and whether there are any other reporting needs — such as a Corporation Tax Return (CT600) or a Confirmation Statement — that you would like considered alongside the accounts. With that information we can assess your circumstances, explain how the micro-entities regime may apply, outline what is involved in preparing the accounts, and give you a clear view of the options and our transparent, fixed-fee approach before any work begins.

─── 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 using the micro-entities regime. It sets out how a qualifying micro-entity prepares its annual financial statements when it chooses to apply that regime, including the accounting policies available and the disclosures required. It is deliberately simpler than the standards used by larger companies, largely because it is built around a historical cost approach with reduced disclosure.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and that choose to apply it. Qualifying is not simply a matter of being small — the company needs to fall within the applicable size limits and must not be excluded from the regime by other rules. If a company qualifies but prefers a different framework, it can generally choose not to use the micro-entities regime.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that falls within the micro-entity limits may apply it, but it is not obliged to. Some companies choose a different framework because of what their lenders, investors or other users of the accounts want to see. Once a framework is chosen, it should be applied consistently and the basis of preparation should be clear.

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. Earlier periods were subject to lower limits, so the period dates matter. Meeting the size conditions alone does not always mean a company can use the regime, because other eligibility rules and exclusions can apply.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different situations. FRS 105 is the micro-entities standard and is tightly drawn: historical cost accounting, no revaluations or fair value measurement, no deferred tax, and limited disclosures. FRS 102 is a broader standard used by a wider range of companies, and it offers more accounting options and requires more disclosure. In practice, choosing between them comes down to eligibility, what the accounts need to show and who will be reading them.

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

Where a company prepares its statutory accounts under FRS 105, those accounts form part of the company's annual accounts and would normally be filed at Companies House in line with the company's filing obligations. Filing the accounts is a separate exercise from submitting a Corporation Tax Return to HMRC or filing a Confirmation Statement, even though all three can relate to the same accounting period.

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

Yes. The FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The two are prepared on different bases and go to different bodies, so the profit figure in the accounts is not automatically the same as the taxable profit on the return.

What information is needed to prepare FRS 105 accounts?

Typically we would need your accounting records for the period, such as bank statements and reconciliations, sales and purchase records, expense receipts, payroll details if you employ staff, and information about any assets, liabilities, loans or directors' balances. Details of the company's period dates, share capital and any previous accounts also help. If your records are incomplete, tell us early so we can work out the most practical way forward before preparation begins.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it meets the micro-entity eligibility conditions for its accounting period and chooses to apply the regime. New companies sometimes assume the regime applies automatically, but eligibility still has to be assessed, and the first set of accounts can raise questions about period dates and comparatives. It is worth checking the position before the first accounts are prepared.

Have the micro-entity thresholds changed recently?

Yes. The size limits used to determine micro-entity eligibility were updated for accounting periods beginning on or after 6 April 2025, to the £1 million turnover, £500,000 balance sheet total and 10-employee average conditions. Companies with earlier accounting periods may still be assessed against the previous limits. Because the applicable rules depend on your period dates, it is sensible to confirm the position for your company rather than rely on figures you have seen elsewhere.