─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Thurso Caithness

If you run a small company in Thurso Caithness, FRS 105 Micro Entity Accounts may be the most straightforward way to prepare and file your annual financial statements. FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime — a simplified accounting framework that qualifying companies can choose to apply instead of the fuller requirements of FRS 102. It is not automatic, and it is not right for every business: a company must first meet the relevant eligibility conditions and then actively decide that the micro-entities regime is appropriate for its circumstances. Professional preparation helps you work through that decision carefully, then builds a set of accounts that reflects your actual financial records, presents the figures in the required format, and supports the statements you make to Companies House. Because FRS 105 accounts are distinct from your Corporation Tax Return (CT600) and from your Confirmation Statement, getting the accounting side right from the outset can make the whole annual cycle far less stressful.

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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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   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: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities — very small companies that meet the size tests set out in company law. In plain terms, it allows a qualifying company to prepare simpler financial statements than would otherwise be needed under a larger framework. Where a company qualifies for the micro-entities regime and chooses to use it, FRS 105 is the standard that applies to those accounts. That typically means a shorter balance sheet, a simpler profit and loss account, and far fewer disclosure notes than you would see in a full set of general-purpose accounts. The trade-off is that the accounts are prepared on a specific basis designed for the micro-entities regime, so the presentation is deliberately condensed. For many owner-managed businesses around Thurso Caithness — from trades and small retailers to consultants and single-director companies — that simplicity is exactly what is wanted. It is worth being clear, though, that choosing the micro-entities regime is a decision, not a default. Some companies are excluded, some may prefer the greater transparency of a fuller framework, and lenders or other parties may have their own expectations. A short conversation about your circumstances usually settles which route is right for you.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it — which is why the question of eligibility comes before anything else. 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 during the period. Those figures reflect the current thresholds, and older guidance quoting lower numbers should be treated with caution. Crucially, meeting the size conditions is necessary but not always sufficient. Other eligibility rules and exclusions apply — certain company types and certain situations fall outside the micro-entities regime regardless of size — so it is possible to tick the size boxes and still not qualify. For companies in Thurso Caithness, the practical approach is to review your figures and your company’s specific circumstances together, confirm whether the micro-entities regime is available and appropriate, and only then decide whether FRS 105 Micro Entity Accounts are the right route for the year ahead.

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

FRS 105 Micro Entity Accounts here are built from your own financial records — bank statements, sales and purchase information, payroll details, asset records and any loans or director balances — and then shaped into financial statements that follow the presentation and disclosure requirements of the standard. That means getting the figures right in the first place, applying the correct format to the balance sheet and profit and loss account, and making sure the accounts are internally consistent and easy to follow. It also means keeping the different obligations separate, because they genuinely are separate. Your FRS 105 financial statements are prepared under the UK accounting framework; filing them with Companies House is a company law obligation; and your Corporation Tax Return (CT600), submitted to HMRC, is a tax filing that draws on the same underlying numbers but is not the same document. A Confirmation Statement is separate again — it confirms company details rather than reporting financial performance. Keeping these clearly apart helps you avoid the common mistake of assuming one filing covers everything. Our role is to prepare your micro-entity accounts accurately from the information you provide, explain the figures to you in plain English, and make sure you understand what is being filed and where.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

Whether you are preparing FRS 105 Micro Entity Accounts for the first time, moving across from a fuller reporting framework, or simply want your annual accounts handled without the guesswork, we are happy to help. Get in touch and tell us a little about your company — what it does, how long it has been trading, the accounting period you need accounts for, and roughly what your turnover, balance sheet total and employee numbers look like. If you already have records, bookkeeping software exports or last year’s accounts to hand, even better. With that information we can assess whether the micro-entities regime and FRS 105 appear appropriate for your circumstances, outline the options available, and explain how the work would be handled. There is no obligation, and clear, transparent pricing is agreed 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 a simplified way of preparing annual financial statements, with a shorter balance sheet, a simpler profit and loss account and considerably fewer disclosure notes than a company reporting under FRS 102. It is a reporting framework, not a tax regime, so it governs how the accounts look rather than how much tax is payable.

Who can use FRS 105 in the UK?

It is intended for companies that qualify for the micro-entities regime and then 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 not the whole story — other rules and exclusions can apply, and some types of company are not eligible. So eligibility should always be checked against your specific circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not oblige you to use it. FRS 105 applies when a qualifying company chooses that regime. A company that qualifies can instead report under a fuller framework such as FRS 102, which involves more disclosure but can offer greater transparency and may suit businesses with lenders, investors or other interested parties. The choice is yours, provided the eligibility conditions are met.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they operate at different levels of detail. FRS 102 is the general framework used by a much wider range of companies and requires fuller financial statements with more notes and disclosures. FRS 105 is the micro-entities standard and is deliberately pared back, producing shorter accounts at the cost of less detail. Some accounting treatments also differ between the two. Moving between them is possible as your company grows or shrinks, but it is worth planning rather than drifting into it.

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

If your company is required to file annual accounts, then yes — the accounts you prepare, whether under FRS 105 or another framework, form the basis of what you send to Companies House. Filing accounts is a company law obligation that sits separately from your tax affairs. The accounts are prepared under the reporting framework; the filing is the delivery of that information. It is sensible to keep track of both so nothing is overlooked.

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

Yes, they are different things. Your FRS 105 accounts are financial statements prepared under the UK accounting framework. A CT600 is a Corporation Tax Return submitted to HMRC, which uses figures drawn from your accounts but follows tax rules rather than accounting presentation rules. The two are prepared for different audiences and different purposes, so completing one does not mean the other has been dealt with.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first accounting period if it qualifies for the micro-entities regime at that point. In practice, a first-year company often has low turnover and few employees, so it may well fall within the size conditions — but qualification is not guaranteed and the other eligibility rules still apply. It is also worth thinking ahead, because your chosen framework may need to change as the business grows.

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

Typically you would provide bank statements and reconciliations, sales and purchase records, payroll information, details of any assets owned by the company, loan or director's loan account balances, and stock or work-in-progress figures if relevant. Last year's accounts are useful for comparison, and any bookkeeping software exports save time. The clearer and more complete the records, the more straightforward the preparation process tends to be.