─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Walsall

FRS 105 provides the financial reporting framework for qualifying UK micro-entities that choose to apply the micro-entities regime. If your company falls within that regime, your FRS 105 Micro Entity Accounts in Walsall need to be prepared in line with the standard’s simpler, largely historical cost basis, with reduced disclosure requirements compared with larger reporting frameworks. Professional preparation helps ensure the accounts reflect your actual financial records and are presented appropriately for your company’s circumstances, including the correct treatment of turnover, assets, liabilities and directors’ interests. It is important to note that not every small company qualifies for the micro-entities regime automatically, and not every qualifying company has to use it — eligibility depends on the applicable size conditions as well as other rules and exclusions. We can review your position and prepare FRS 105 Micro Entity Accounts that suit how your business is structured and run.

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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. In simple terms, it is the rulebook used to prepare a very small company’s annual accounts — the balance sheet, the profit and loss account and a small set of notes — on a straightforward, largely historical cost basis, with far less disclosure than larger companies have to provide. FRS 105 sits alongside the UK micro-entities regime: the regime is the legal framework that a qualifying company may choose to adopt, and FRS 105 is the accounting standard that applies when that choice is made. Choosing it is optional for qualifying companies, and it is not available to companies that fall outside the regime for any reason. For a director of a small company in Walsall, the practical effect is simpler financial statements that still need to be accurate, consistent with the underlying records and prepared within the applicable reporting requirements.

Who Can Use FRS 105 in the UK? A Guide for Walsall Companies

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, the applicable size conditions mean a company generally needs to meet at least 2 of the following 3: 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 are the headline tests rather than the whole story. Other eligibility rules and exclusions apply, and some companies are shut out of the micro-entities regime regardless of how small they are. Meeting the size conditions therefore does not guarantee eligibility, and qualifying does not oblige a company to use the regime — the decision rests with the directors. For companies in Walsall preparing FRS 105 Micro Entity Accounts, we look at the specific circumstances rather than assuming the regime applies.

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

FRS 105 Micro Entity Accounts are built from the company’s own financial records — bank statements, sales and purchase information, payroll details, asset purchases and any loans or director balances — and then presented in the format the standard requires. Professional preparation means the figures are pulled together carefully, the disclosures are appropriate to a micro-entity, and the statements are internally consistent before they are finalised. It is worth separating the two distinct tasks involved: preparing and filing the company’s annual accounts, which typically go to Companies House, and dealing with Corporation Tax, which is handled through a separate CT600 return submitted to HMRC. The two are connected because the figures should normally align, but they are different filings with different purposes. Directors remain responsible for the accounts, and while careful preparation supports accurate reporting, no one can guarantee a particular filing outcome or a specific tax position.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Walsall

If you run a small company in Walsall and want to know whether the micro-entities regime is right for you, get in touch to talk through your FRS 105 Micro Entity Accounts requirements. Tell us about your company, its trading activity, your accounting period and how your records are currently kept, and we can assess your circumstances and explain the options available to you. Whether you are preparing accounts for the first time, switching from another framework, or simply want your existing bookkeeping turned into clear financial statements, a short conversation is the best place to start. We work with clear, transparent pricing and will set out what is involved 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 for companies that qualify for and choose to apply the micro-entities regime. It sets out how their annual accounts should be prepared, using a simplified, largely historical cost approach with limited disclosures. It is the standard that applies to FRS 105 Micro Entity Accounts — it is not a tax return, and it does not replace any filing obligations the company already has.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on the applicable size conditions plus the wider rules and exclusions, so meeting the size tests alone does not automatically mean a company can use FRS 105. Certain types of company are excluded from the regime regardless of their size. If you are unsure where your company stands, eligibility is worth checking before the accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime and choosing to apply it are two separate things. A company that qualifies may opt to use the regime, and FRS 105 applies when that choice is made. Some qualifying companies instead prepare their accounts under another framework, such as FRS 102, because of how they are structured, who relies on the accounts, or the disclosures they want to provide.

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 within a wider set of rules, and certain companies are excluded from the micro-entities regime for other reasons. Because of that, the size tests are a starting point rather than a complete answer.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the more stripped-back standard, designed for micro-entities, with a simpler measurement basis and far fewer disclosure requirements. FRS 102 is the broader UK standard used by many other companies, and it allows or requires more recognition, measurement and disclosure than FRS 105 does. In practice, the framework chosen affects how items are valued and how much detail appears in the notes, so it is not simply a presentational choice.

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

A company that prepares its annual accounts under FRS 105 will normally need to file those accounts with Companies House, as it would with accounts prepared under another framework. Filing the accounts is a separate exercise from dealing with Corporation Tax, and directors remain responsible for making sure the filings are made and the information is correct. The accounts should be prepared from accurate records and be consistent with the company's other reporting.

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

Yes. The CT600 is a Corporation Tax return submitted to HMRC, while the accounts are the company's financial statements, which are typically filed with Companies House. They are different documents, prepared for different purposes and sent to different organisations, and each has its own rules and deadlines. Because the two are closely related, the figures used usually need to line up, so it helps to plan for both at the same time.

What information is needed to prepare FRS 105 accounts?

The main things we need are the company's financial records for the accounting period, such as bank statements and transaction listings, sales and purchase information, payroll details, details of any assets bought or sold, and information about loans, director balances and share capital. We also need to know the accounting period being reported on and how the company has prepared accounts previously. If records are incomplete or kept informally, we can talk through how to pull them into a usable format before preparation begins.