─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Turriff for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying UK micro-entities that choose to apply the micro-entities regime. For companies in Turriff and the surrounding area, this can mean simpler financial statements and reduced disclosure compared with larger reporting frameworks, but it is not an automatic option for every small company. Professional preparation can help ensure your accounts are put together appropriately for your company’s circumstances, using the financial records you provide and the applicable reporting requirements. We can help you understand whether the micro-entities regime may be suitable, prepare the financial statements, and support the separate filing process with Companies House. Eligibility always depends on the relevant rules and exclusions, so it is important to assess your position before deciding how to prepare your accounts.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 the Micro-Entities Regime Means for Your Turriff Company

FRS 105 is a UK financial reporting standard designed for companies that qualify for the micro-entities regime and choose to use it. In simple terms, it gives eligible micro-entities a more streamlined way to prepare their annual financial statements, with simpler accounting and fewer disclosures than frameworks such as FRS 102. The micro-entities regime is an available accounting regime, not a compulsory one: a qualifying company can choose it, and FRS 105 applies when that choice is made. If you run a small limited company in Turriff, FRS 105 Micro Entity Accounts can help present your financial position clearly to shareholders, lenders and other readers while keeping the reporting proportionate to the size and nature of the business. The key is to confirm that your company meets the eligibility conditions and is not excluded from the regime before preparing accounts under FRS 105.

Who Can Use FRS 105 in the UK? Guidance for Turriff Companies

FRS 105 is intended for companies that qualify for the UK micro-entities regime and 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. However, other eligibility rules and exclusions can apply, so meeting the size thresholds alone does not always guarantee that a company can use FRS 105. Companies in Turriff should also consider whether the micro-entities regime is the right fit for their reporting needs and whether they choose to apply it. If you are unsure whether your company qualifies, professional advice can help you assess the position before preparing FRS 105 Micro Entity Accounts.

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.

Professional Accountancy Support for FRS 105 Micro Entity Accounts in Turriff

Professionally prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of your company’s financial records. We can prepare the financial statements under the FRS 105 framework where your company qualifies for the micro-entities regime and has chosen to apply it, reflecting the information you provide and the applicable reporting requirements. This includes helping with the accounts preparation side of your annual reporting, so the figures are presented consistently and appropriately for a micro-entity. The annual accounts are then part of the separate Companies House filing process, while any Corporation Tax Return (CT600) remains a distinct obligation submitted to HMRC. We do not claim that Companies House or HMRC approves, endorses or reviews accounts, and no outcome can be guaranteed. Our role is to provide professional accountancy support so you can meet your reporting responsibilities with greater confidence.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Turriff

If you would like help with FRS 105 Micro Entity Accounts for your Turriff company, get in touch to discuss your requirements. We can review your circumstances, explain how the micro-entities regime may apply, and outline the information needed to prepare your accounts. It helps to have details of your company structure, accounting period, financial records, previous accounts or filings, and any questions about the separate Companies House and Corporation Tax obligations. Whether you are preparing accounts for the first time or looking for ongoing support, we can help you take the next step with clear, practical guidance. No particular filing result, approval or turnaround time is promised — the focus is on understanding your position and preparing the accounts appropriately.

─── 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 companies that qualify as micro-entities and choose to apply the micro-entities regime. It provides a simplified framework for preparing annual financial statements, with reduced disclosure requirements and certain measurement simplifications compared with larger reporting standards. FRS 105 Micro Entity Accounts are therefore the financial statements prepared under that standard when the regime has been chosen.

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is not based on size alone: a company must meet the relevant size conditions and must not be excluded by other rules. 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees — subject to the relevant rules and exclusions. If your company is in Turriff and you are unsure whether it qualifies, professional advice can help clarify your position.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a compulsory one. A qualifying company can choose whether to apply it. If the company chooses the micro-entities regime, FRS 105 applies to its financial statements. Some qualifying companies may prefer or need to use a different framework such as FRS 102, depending on their circumstances, so the decision should be made carefully.

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 to qualify as a micro-entity: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. These conditions are subject to the relevant rules and exclusions. Meeting the size thresholds alone does not always guarantee eligibility, so other factors may need to be considered.

What is the difference between FRS 105 and FRS 102?

FRS 105 is a streamlined framework specifically for qualifying micro-entities, with simpler recognition and measurement requirements and fewer disclosures. FRS 102 is a broader UK financial reporting standard used by many other companies and includes more comprehensive accounting requirements and disclosures. The right choice depends on whether your company qualifies for the micro-entities regime, whether it chooses to apply it, and what users of the accounts need.

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

Where a company is required to file annual accounts, those accounts are generally submitted to Companies House. If they are prepared under FRS 105, they are filed as the company’s annual accounts in the usual way. The filing requirements and deadlines depend on the company’s circumstances, so it is worth checking the current guidance or asking us to confirm what applies to your Turriff company. This filing is separate from any Corporation Tax Return submitted to HMRC.

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

Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities reporting framework. A Corporation Tax Return (CT600) is a separate filing submitted to HMRC to report the company’s taxable profits and tax position. The figures in the accounts will often inform the CT600, but the two are distinct obligations with different purposes, deadlines and submission routes.

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

To prepare FRS 105 Micro Entity Accounts, we typically need your company details, the accounting period dates, and complete financial records. This may include bank statements, sales and purchase records, invoices, payroll information, details of assets and liabilities, and any previous accounts or filings. If you have already prepared draft figures or use accounting software, that can also help. Once we understand your records, we can discuss what else may be required for your specific circumstances.