─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Telford

FRS 105 Micro Entity Accounts in Telford are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. FRS 105 is a distinct regime, not simply a smaller version of full accounts: it sets out how the financial statements themselves are put together, including the form of the balance sheet, the notes required and the measurement basis used. Because eligibility depends on a combination of size conditions and other rules, professional preparation starts by reviewing your company’s circumstances — its turnover, balance sheet total and average employee numbers across the relevant periods, together with any exclusions that may apply. From there, accounts can be built from your bookkeeping and financial records so the figures presented are accurate, internally consistent and aligned with the framework you have chosen to apply. If your company is based in or around Telford and you want clarity on whether FRS 105 is suitable, and what the resulting accounts will look like, professional support can help you reach a sensible conclusion and get the reporting done properly.

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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  
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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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 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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard designed for companies that qualify as micro-entities and decide to apply the micro-entities regime. Put simply, it is a simplified way of preparing statutory financial statements: a shorter balance sheet, a simpler profit and loss account and a much reduced set of notes compared with the larger reporting frameworks. Choosing the micro-entities regime is a decision, not something that happens automatically — a company must first qualify, and then choose to apply the regime. When that choice is made, FRS 105 is the standard that governs how the financial statements are drawn up, so the accounts are prepared on the basis permitted for micro-entities rather than the fuller disclosure that other standards require. For owners of small companies in Telford, the appeal is straightforward: financial statements that are easier to follow, quicker to prepare and focused on the information that genuinely matters, without the additional disclosures that larger frameworks demand. It is worth remembering that FRS 105 affects the accounts you prepare and file, and it sits alongside — rather than replaces — your separate obligations to HMRC and Companies House.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. The size test is set out in the applicable rules 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. Meeting those conditions is an important part of the picture, but it is not the entire test. Other eligibility rules and exclusions can apply, and certain companies are not able to use the regime regardless of their size. That means a company should not assume it qualifies simply because its turnover and balance sheet look modest, and equally should not rule itself out without checking. For businesses in Telford, the practical approach is to look at the figures for the relevant period, consider whether any exclusions might apply, and confirm whether applying the micro-entities regime is genuinely the most suitable option before the accounts are prepared.

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

Preparing FRS 105 Micro Entity Accounts properly means starting from reliable financial records and applying the framework consistently. In practice, that involves reviewing your bookkeeping, reconciling bank and control accounts, checking that income and costs have been recorded in the correct period, and confirming that assets and liabilities are stated on the basis the micro-entities regime permits. The output is a set of financial statements — balance sheet, profit and loss account and the limited notes that FRS 105 requires — prepared for your company’s specific circumstances rather than from a template. It is important to keep two separate things in mind. Preparing and filing the accounts with Companies House is one obligation; working out and reporting Corporation Tax through a CT600 is a different obligation submitted to HMRC. The two are connected because they draw on the same underlying figures, but they are not the same task, and neither one is automatically completed by doing the other. Professional preparation helps ensure your FRS 105 financial statements are accurate, consistent with your records and presented as the framework requires, while your tax position is considered on its own terms.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Telford

If you would like help with FRS 105 Micro Entity Accounts for your Telford-based company, the next step is a conversation. Tell us about your business — your accounting period, what you trade in, roughly how the numbers are shaping up, and how your records are currently kept. That gives us enough context to assess whether the micro-entities regime is likely to suit your company, to flag anything that needs a closer look, and to explain what the accounts preparation process involves from there. You may also want to mention any other filing you need support with, such as your CT600 or Confirmation Statement, so the whole picture can be considered together. Whether you are preparing accounts for the first time, switching from another framework, or simply want your existing figures reviewed, we are happy to talk through your requirements and set out clear, transparent pricing 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 that applies to companies using the micro-entities regime. It sets out how qualifying micro-entities prepare their statutory financial statements, including the permitted formats for the balance sheet and profit and loss account and the limited notes that must accompany them. It is a simplified framework, so the accounts contain far less disclosure than those prepared under standards such as FRS 102, but the accounts are still formal statutory financial statements and must be prepared accurately from the company's records.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it — the regime is an option, and a company that qualifies may still decide to report under a fuller framework instead. Qualification depends on meeting the applicable size conditions and not falling within any of the relevant exclusions, so it is always worth checking your company's specific position rather than assuming it 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 meets the applicable size conditions may choose to apply the micro-entities regime, in which case FRS 105 governs how the financial statements are prepared. Equally, it may choose to prepare accounts under a fuller framework such as FRS 102. The right choice depends on the company's size, any rules or exclusions that apply to it, and what its owners and any lenders or other users of the accounts need to see.

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. Meeting the size conditions is not by itself the whole test. Other eligibility rules and exclusions can apply, and the position may differ for particular types of company or group structures, so eligibility should be confirmed for your company's own circumstances and for the correct period.

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 and produce different accounts. FRS 105 is the micro-entities framework: it is the most streamlined option, with a simpler balance sheet, a simpler profit and loss account and a much smaller set of notes. FRS 102 is a fuller framework used by larger small companies and others, and it requires considerably more disclosure and more detailed accounting treatment. In short, FRS 105 results in shorter, simpler financial statements, while FRS 102 gives a more detailed picture at the cost of more preparation and disclosure.

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

The financial statements prepared under FRS 105 are the company's statutory accounts, and subject to the filing requirements that apply to your company, they are the accounts filed at Companies House. Micro-entity accounts can be filed in a reduced format, but they must still be prepared properly and be consistent with the company's underlying records. Filing the accounts is a separate exercise from calculating and reporting Corporation Tax, even though both draw on the same figures.

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

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare the company's statutory financial statements. A CT600 is a separate Corporation Tax filing submitted to HMRC to report the company's taxable profits and calculate the tax due. The two are connected because the accounts provide the starting point for the tax computation, but they are distinct documents with distinct purposes, and preparing one does not automatically complete the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In the first period of trading, the company will typically need to consider its expected turnover, balance sheet total and average employee numbers to judge whether it fits the size conditions, along with any exclusions that might apply. Because a first set of accounts also involves decisions about the accounting period, the treatment of start-up costs and how the figures are presented, it is worth discussing the position early rather than at filing time.