─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Tipton

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK, and we help companies in Tipton work through that framework with confidence. FRS 105 sets out how the accounts of a qualifying micro-entity should be drawn up when the company chooses to apply the micro-entities regime — from the format of the balance sheet and profit and loss account through to the notes and disclosures that are appropriate to that regime. Because FRS 105 is a distinct framework rather than a simplified version of general accounting, the way figures are recognised, measured and presented can differ meaningfully from accounts prepared under other standards. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together in a way that reflects your company’s actual circumstances, your accounting records and the reporting requirements that apply to you, rather than following a generic template. Whether you are filing micro-entity accounts for the first time, moving across from a different framework, or simply want reassurance that the figures you submit are properly presented, we can review your position and explain the options open to your company.

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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 Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies that qualify for, and choose to use, the micro-entities regime. In simple terms, it is the rulebook that tells you how your financial statements should be put together: what the balance sheet and profit and loss account look like, how assets and liabilities are valued, and which notes need to accompany the numbers. FRS 105 is deliberately lean. It is built around the idea that a very small company should not have to carry the same reporting burden as a larger business, so it takes a simpler approach to measurement — for example, it does not require the same fair value accounting that other frameworks do. Crucially, the micro-entities regime is a choice, not an automatic entitlement. A company has to fall within the definition of a micro-entity, and even then it can decide to use a different framework if that suits its circumstances better. FRS 105 applies when the micro-entities regime is the framework the company has chosen. If you already run a small company in Tipton and want to understand what FRS 105 would mean for your year-end accounts, we can walk you through it without the jargon.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it — both elements need to be present. On the size side, 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 size conditions is a starting point rather than a guarantee of eligibility, because the regime also carries other rules and exclusions that can rule certain companies out or affect how the criteria are applied, and some entities simply cannot use the micro-entities regime regardless of their size. Alongside eligibility, there is the question of suitability: FRS 105 produces simpler, less detailed accounts, which suits many very small companies but may not be the best fit where a bank, investor or parent company expects fuller information. That is why we look at both whether your Tipton company can use FRS 105 and whether it makes sense for you to do so before any 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 your underlying records — bank statements, sales and purchase information, payroll details, asset purchases, loans and any other transactions that affect your financial position. From there, the figures are compiled and presented in the format FRS 105 requires, with the disclosures that apply to a micro-entity and a balance sheet that reflects the company’s position at the period end. The preparation of those financial statements and the filing of accounts with Companies House are separate steps from your Corporation Tax obligations, which are dealt with through a Company Tax Return (CT600) submitted to HMRC. The two are connected in practice — the profit figure in your accounts usually feeds into the tax computation — but they are distinct filings with distinct requirements, and treating them as one and the same is a common source of confusion. Our role is to prepare FRS 105 Micro Entity Accounts based on the information you provide and the reporting requirements that apply to your company, and to help you understand how the accounts and the tax return fit together. We cannot guarantee any particular outcome or acceptance, but we can make sure the work is done carefully, explained clearly and prepared with your circumstances in mind.

ICAEW

ACCA

AAT

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

If your company may qualify for the micro-entities regime, or you are already filing FRS 105 Micro Entity Accounts and would like them prepared with more care and clarity, get in touch. Tell us a little about your business — your year end, the framework you have used previously, and where your records currently sit — and we can look at your circumstances and explain what is involved. If you are unsure whether FRS 105 is the right fit for your company, that is a perfectly good reason to start the conversation. We will take the time to understand what you do, how your accounts have been prepared before and what you need from the filing, then set out the options in straightforward terms with clear, transparent pricing.

─── 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 the format and content of the financial statements for those companies, including how the balance sheet and profit and loss account should be presented, how items are measured, and which notes are required. It is a standalone framework rather than a stripped-back version of general accounting standards, and it is designed around the reality of very small companies.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualifying is about more than being a small business — there are size conditions to satisfy as well as other rules and exclusions that can affect whether the regime is available to a particular company. Because the detail matters, it is worth checking your specific position rather than assuming you do or do not qualify.

Is FRS 105 compulsory for every micro-entity?

No. Using the micro-entities regime is a choice. A company that qualifies as a micro-entity can elect to apply the regime — and FRS 105 applies when that choice is made — but it is not obliged to do so. Some companies prefer to use a different framework, for example where they need to present more detailed information for lenders, investors or group purposes. FRS 105 is an option that should be considered on its merits.

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 the whole story, though — other eligibility rules and exclusions can apply, and some companies are excluded from the regime regardless of size. It is always worth confirming your position before preparing accounts on that basis.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general financial reporting standard for UK companies, and it applies to a much wider range of businesses, including small companies that do not use the micro-entities regime. FRS 105 is narrower and lighter: it is available only to qualifying micro-entities, and it takes a simpler approach to measurement and disclosure. The practical effect is that accounts prepared under FRS 105 typically contain less detail than those prepared under FRS 102, which can be an advantage for a very small company but may not suit every situation.

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

Micro-entity accounts prepared under FRS 105 are generally filed with Companies House as part of the company's annual accounts filing obligation, in the same way as accounts prepared under other frameworks — the framework used changes the content and format of the accounts, not whether they need to be filed. Filing requirements can vary with company type and circumstances, so it is worth confirming what applies to your company rather than relying on a general rule of thumb.

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

Yes, they are separate. Your FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. A Company Tax Return, or CT600, is a Corporation Tax filing submitted to HMRC. The two are linked because the profit reported in your accounts usually forms the starting point for the tax computation, but they are different documents, with different deadlines and different submission routes.

What information do you need to prepare FRS 105 Micro Entity Accounts?

In broad terms, we need a clear picture of your company's transactions and position for the period — things such as bank and credit card statements, sales and purchase records, payroll and subcontractor information, details of any assets bought or sold, loan and finance agreements, stock or work in progress where relevant, and your previous year's accounts. If your records are not fully up to date, that is not a barrier to getting started; tell us where things stand and we can advise on what is needed to move forward.