─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Thrapston

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to apply the UK micro-entities regime. In Thrapston and across the surrounding area, we help company directors understand whether that regime is available to them and prepare a set of FRS 105 accounts that reflects the company’s own financial records, its activities and its reporting requirements. FRS 105 is a simplified framework, but it still requires care: the balance sheet, the notes and the disclosures all need to be presented appropriately, and the figures must agree to the underlying bookkeeping. Professional preparation helps ensure the accounts are put together on a consistent basis, that the accounting policies used suit the company’s circumstances, and that the resulting financial statements are ready for the director to review and approve. It is important to be clear that not every small company qualifies for the micro-entities regime — eligibility depends on the size conditions and on other rules and exclusions — so the starting point is always a proper look at the company’s position rather than an assumption.

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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 Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the accounting framework that a qualifying company uses when it decides to apply the micro-entities regime, and it allows the accounts to be prepared in a simplified form compared with the standards used by larger companies. Under FRS 105, the financial statements are built around a balance sheet and supporting notes, with a much lighter set of disclosures than you would see under FRS 102, and with simpler measurement requirements. The key point is that FRS 105 is not something every small company is automatically placed into. A company first needs to qualify for the micro-entities regime, and then the directors need to choose to apply it. When that choice is made, FRS 105 is the framework that governs how the accounts are drawn up. Understanding this distinction matters in Thrapston and elsewhere, because it affects how the numbers are presented, what the accounts include, and how they sit alongside the company’s other filing obligations. If you are unsure whether the micro-entities regime is the right route for your company, talking it through before the year end is usually far easier than revisiting decisions afterwards.

Who Can Use FRS 105 in the UK?

FRS 105 is aimed at companies that qualify for the UK micro-entities regime and then choose to apply it. Two things have to line up: the company must fall within the size conditions, and the directors must decide to adopt the regime rather than a fuller framework. 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 figures are the starting point, not the whole picture. Other eligibility rules and exclusions can apply depending on the nature of the company and its activities, and some entities are not able to use the micro-entities regime at all. Meeting the size tests therefore does not automatically mean a company qualifies, and qualifying does not automatically mean the regime must be used. For directors in Thrapston considering FRS 105 Micro Entity Accounts, the practical approach is to review the company’s turnover, balance sheet position and headcount across the relevant periods, check for any exclusions that might apply, and confirm the choice of framework 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 starts with the company’s own financial records. We work from the bookkeeping, bank information, sales and expense detail, asset records and any other supporting documentation to build a set of financial statements that reflects the company’s transactions for the period. From there, the accounts are drawn up in line with the FRS 105 framework and the applicable reporting requirements, including the balance sheet, the accounting policies and the notes that the framework expects a micro-entity to provide. Two things are worth keeping separate in your mind. First, there is the preparation of the financial statements themselves. Second, there is the filing of those accounts with Companies House, which is a distinct step with its own process. Corporation Tax is separate again: a CT600 is a tax return submitted to HMRC, not a set of accounts, and it is prepared and filed under different rules and timescales. We can help you keep those strands clearly separated, so you know what is being prepared, what is being filed and where, and what information is still outstanding from you. Nothing here amounts to a guarantee of acceptance or approval by any body — the aim is simply to produce accurate, well-supported accounts based on your records.

ICAEW

ACCA

AAT

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

If you are a director of a company that may qualify for the micro-entities regime, the sensible next step is a straightforward conversation about your circumstances. Tell us about your company’s activities, its accounting period, the records you already keep and any concerns you have about eligibility or presentation, and we can assess where you stand and what needs to happen next. Bring along your bookkeeping or accounting software access, details of any assets, loans or intercompany balances, and any correspondence you have received about filing. From there we can explain what preparing your FRS 105 Micro Entity Accounts involves, how the accounts sit alongside your Companies House filing and your separate Corporation Tax obligations, and what information we still need from you. There is no obligation and no pressure — just clear, transparent pricing and a practical view of the work involved.

─── 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 designed for micro-entities. It sets out how a qualifying company that chooses to apply the micro-entities regime prepares its financial statements, allowing a simplified presentation built around the balance sheet and supporting notes, with lighter disclosure requirements than standards such as FRS 102. It is an accounting framework rather than a tax regime, so it governs how the accounts are drawn up rather than how much tax is payable.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the micro-entities regime and choose to apply it. Qualification is based on the size conditions along with other rules and exclusions that can apply to certain company types or activities. Meeting the size tests does not automatically guarantee eligibility, so it is worth reviewing your company's specific position before deciding on the framework.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an obligation. A company that qualifies may choose to apply it, and if it does, FRS 105 is the framework used to prepare the accounts. Qualifying companies that do not adopt the micro-entities regime will report under a different standard instead, so the choice is a genuine decision for the directors rather than something imposed automatically.

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. These conditions sit alongside other rules and exclusions, so satisfying 2 of the 3 tests does not by itself confirm that a company qualifies for the regime.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the lighter framework for qualifying micro-entities, with simplified measurement and fewer disclosures. FRS 102 is the standard used more widely and includes fuller recognition, measurement and disclosure requirements. The framework chosen affects how the accounts are presented and how much detail appears in the notes.

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

Where a company prepares accounts under FRS 105, those financial statements are generally the accounts that get filed at Companies House, subject to the filing requirements that apply to the company. Filing the accounts is a separate step from preparing them, and it is also separate from anything submitted to HMRC. We can handle the preparation and talk you through the filing process so you know exactly what is being sent and when.

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

Yes, they are distinct. FRS 105 accounts are the financial statements prepared under the micro-entities framework. A CT600 is a Corporation Tax Return submitted to HMRC, prepared under tax rules and on HMRC's own timescales. The two are connected in the sense that the accounts inform the tax position, but they are separate documents with separate purposes and separate submission routes.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and the directors choose to apply it. Because a new company has no trading history, eligibility is usually assessed against its expected size and circumstances. First-year accounts can involve a longer or shorter accounting period than usual, which is one of the details worth discussing before the year end rather than afterwards.

What information is needed to prepare FRS 105 accounts?

Typically we need a full record of income and expenditure for the period, bank and credit card statements or reconciled bookkeeping, details of fixed assets and any depreciation agreed, information on loans, directors' balances and intercompany amounts, plus stock or work-in-progress figures where relevant. Anything unusual — a one-off transaction, a change of accounting policy or a new source of income — is worth flagging early so it can be handled correctly in the accounts.

What changes are coming to micro-entity accounts filing?

The UK filing framework for small and micro-entity accounts has been under review, with a move towards filing accounts in a digital, tagged format and simplified balance sheet structures. Because the detail and timing of these changes can shift, it is best to check the current position for your own accounting period rather than relying on older guidance. We can explain what the changes mean for your company when you get in touch.