─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Tavistock

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities who choose to use the UK micro-entities regime. For a small company in Tavistock, that can mean shorter, simpler financial statements with fewer disclosures than a fuller reporting framework would require — but it still takes care and judgement to get the figures and notes right. Working with an experienced preparer helps ensure your FRS 105 Micro Entity Accounts are built properly from your bookkeeping records, reflect the company’s own circumstances, and are presented in a format that meets the applicable reporting requirements. Eligibility is not automatic and depends on the company’s size and other rules, so it is worth checking whether the micro-entities regime is available and appropriate before the accounts are prepared. We can talk you through what is involved for your business.

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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: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it sets out how a very small company’s financial statements should be put together when that company qualifies for the micro-entities regime and decides to use it. Where FRS 105 applies, the accounts are generally prepared on a simpler basis: assets and liabilities are usually measured at historical cost, there is often less fair value and revaluation work, and the disclosure requirements are considerably lighter than under a fuller framework. The result is a shorter set of financial statements that still show the company’s financial position and performance. It is important to understand that the micro-entities regime is a choice — a qualifying company can apply it, but it does not have to, and FRS 105 is the standard that applies when that choice is made.

Who Can Use FRS 105 in the UK?

FRS 105 is aimed at 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 will generally need to meet at least 2 of the 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 the starting point rather than the whole picture, because other eligibility rules and exclusions can apply — for example, certain companies are not permitted to use the regime regardless of their size. Nor is the regimesomething every qualifying company must adopt: it is an available accounting regime, and FRS 105 applies when a qualifying company makes that choice. For a Tavistock company weighing up its options, the sensible approach is to look at the actual figures, the nature of the business and any relevant restrictions before deciding.

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 about more than entering numbers into a template. The figures need to be drawn from your underlying accounting records, checked for consistency, and presented in a set of financial statements that reflects the company’s circumstances and the reporting requirements that apply to it. That includes getting the balance sheet, the profit and loss account and the supporting notes aligned, and making sure the accounts tie back to the company’s records. It is also worth separating the different obligations clearly: preparing and filing the financial statements with Companies House is one task, while Corporation Tax is a separate matter dealt with through a Company Tax Return (CT600) submitted to HMRC, and the Confirmation Statement is a further, distinct filing. We can help with the accounts side of that picture while keeping the tax and filing requirements in view.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Tavistock

If you run a small company in or around Tavistock and think the micro-entities regime may suit you, the next step is simply a conversation. Tell us a little about your business — your trading activity, your accounting period, the records you keep and what you have filed previously — and we can look at whether FRS 105 Micro Entity Accounts are likely to be available and appropriate for your company. From there, we will explain what information we need, how the accounts will be prepared, and how the separate Companies House filing and Corporation Tax obligations fit together. There is no obligation, and no assumptions made about your circumstances before we have looked at 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 for micro-entities. It sets out the recognition and measurement rules and the disclosure requirements that apply when a qualifying company chooses to use the micro-entities regime. In practice it tends to produce a shorter, simpler set of financial statements than a fuller framework, typically built on historical cost with limited disclosure notes.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it. Qualification depends on meeting the relevant size conditions and on not falling within any of the applicable exclusions, so a company should always check its own position rather than assuming it is eligible.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is available to qualifying companies, not imposed on them. A company that qualifies may choose to apply it and therefore prepare FRS 105 accounts, or it may decide to use a fuller framework instead. Once a regime is adopted, it should be applied consistently for that set of accounts.

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. Other eligibility rules and exclusions can still apply, so meeting the size conditions alone does not always guarantee eligibility.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting framework used by many small and medium-sized companies, and it includes options such as fair value measurement and revaluation together with more extensive disclosures. FRS 105 is narrower and simpler: it is available only to qualifying micro-entities, generally uses historical cost, and requires far fewer notes to the accounts.

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

A company that prepares FRS 105 Micro Entity Accounts will normally still have to file accounts with Companies House, even though the micro-entity format is shorter and allows for less disclosure. The filing itself is separate from your Corporation Tax obligations, and the accounts must still meet the legal requirements that apply to them.

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

Yes, they are separate. FRS 105 accounts are the financial statements prepared under the micro-entities reporting framework, while a CT600 is a Company Tax Return submitted to HMRC to report the company's corporation tax position. The figures may start from the same records, but tax computations can include adjustments that do not appear in the accounts.

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 credit card statements, details of any assets and liabilities, sales and purchase information, payroll or employee data, and details of any loans or director transactions. It also helps to know what was filed in previous periods and whether the company has changed its activities, so the accounts can be prepared accurately for its circumstances.