─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in West Leake

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK, and they give smaller companies a simpler, more proportionate way to present their financial position. FRS 105 is not a free-standing set of rules that any small company can simply adopt; it applies when a company both qualifies for the micro-entities regime and chooses to use it. For owners and directors in West Leake, professional preparation means the accounts are built up from the company’s own accounting records, presented in the format expected of micro-entity financial statements, and considered against the specific circumstances of the business rather than a generic template. That includes looking at the size conditions, any exclusions that might affect eligibility, the disclosures that are appropriate, and how the figures in the accounts sit alongside the company’s other filing obligations. Whether you are preparing a first set of accounts or moving from a different framework, the aim is straightforward: accurate financial statements that reflect your company properly and are ready to be filed with Companies House.

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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. It sits within the broader micro-entities regime, which is an available accounting regime rather than a default one: a company must qualify for it, and then the directors must choose to apply it. When that choice is made, FRS 105 sets out how the financial statements should be drawn up. In simple terms, it allows a much more streamlined set of accounts than larger companies would produce. There is normally no requirement to revalue assets or apply complex fair value measurements, and the disclosure notes are far shorter than those required under other frameworks. The result is a set of financial statements that still reports the company’s assets, liabilities, income and expenses, but in a more compact and readable form. For a director running a small business, that means less jargon, fewer notes and a clearer picture of the numbers. It is important to remember that FRS 105 is about accounting and financial reporting; it does not replace a Corporation Tax Return, nor does it settle every other filing obligation a company may have. It is one part of a wider set of responsibilities, and understanding which framework applies is the starting point for getting the accounts right.

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. Qualifying is a two-step idea: the company has to fall within the size criteria, and it also has to be free of any rules or exclusions that would prevent it from using the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 tests is an important part of the picture, but it is not the whole picture, and it should not be treated as an automatic entitlement. Certain types of entity and certain circumstances are excluded from the micro-entities regime, and the rules that apply can vary depending on the company’s structure and activities. For that reason, eligibility is best confirmed by reviewing your company’s position in detail rather than relying on the headline thresholds alone. Once a company is confirmed as qualifying and the directors decide to use the regime, FRS 105 is the framework that applies to the preparation of its financial statements.

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 well begins with the company’s own financial records: bookkeeping, bank statements, sales and purchase information, payroll details where relevant, and any asset or liability balances that need to be reflected. From there, the accounts are drafted in line with the reporting requirements that apply to micro-entity financial statements, with the figures presented in the prescribed format and supported by the disclosures that FRS 105 requires. It is worth separating your reporting obligations clearly. The financial statements are prepared for the company and are generally filed with Companies House as part of the annual accounts submission. Corporation Tax is a separate matter, dealt with through a Company Tax Return submitted to HMRC, and the figures used for tax purposes may differ from those in the accounts. A Confirmation Statement is another separate filing, confirming that the information Companies House holds about the company remains accurate; it is not the same as filing accounts. Professional preparation helps keep these threads distinct and consistent, so the accounts you file reflect your company’s circumstances and are supported by a clear audit trail of how the figures were arrived at.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If your company is in West Leake and you think the micro-entities regime may be right for you, the sensible next step is a conversation. Tell us about your business, your accounting period, the nature of your income and expenses, and whether you have already been filing under another framework. Share your bookkeeping records, bank information and any details of assets, liabilities or director balances, and we can look at your circumstances as a whole. From there we can explain whether FRS 105 appears appropriate for your company, what information is still needed, and how the accounts sit alongside your other filing responsibilities. There is no pressure and no assumption that FRS 105 will automatically suit every company — the point of the discussion is to work out what genuinely fits your situation. Get in touch when you are ready and we can take it from there.

─── 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 micro-entities. It sets out how qualifying companies that choose to apply the micro-entities regime should prepare their financial statements, allowing a simpler presentation with fewer disclosure notes than other frameworks. It deals with accounting and reporting only — it does not cover tax filings such as the Corporation Tax Return.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic requirement. A company must first qualify for it, and then the directors decide whether to apply it. If the company qualifies and the choice is made, FRS 105 governs how the accounts are prepared. Some qualifying companies may have reasons to use a different framework instead.

What are the 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 are the headline size tests, but other rules and exclusions can affect whether a company qualifies, so meeting the thresholds alone does not guarantee eligibility.

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 designed for micro-entities and is the more streamlined of the two, with a simpler measurement approach and much shorter disclosure requirements. FRS 102 applies more broadly and involves more detailed recognition, measurement and disclosure. Which one is appropriate depends on whether your company qualifies for the micro-entities regime and chooses to use it.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Accounts prepared under FRS 105 still form the company's annual accounts for filing purposes, so they are generally submitted to Companies House in the normal way for the accounting period. The format is simplified, but the filing obligation itself remains. Filing the accounts is separate from submitting a Company Tax Return to HMRC or filing a Confirmation Statement.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework and filed with Companies House. A CT600 is the Company Tax Return submitted to HMRC to report Corporation Tax. The two are linked because both draw on the company's financial information, but they are distinct documents with different purposes and different recipients.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 in its first accounting period if it meets the eligibility conditions and the directors choose to apply the micro-entities regime. In practice, new companies are often small enough to qualify, but eligibility still needs to be checked against the specific rules and any exclusions rather than assumed. It is worth reviewing this before the first set of accounts is prepared.

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

Typically you would provide your bookkeeping records or a full transaction listing, bank statements for the period, sales and purchase information, payroll or employment details where relevant, and any supporting documents for assets, liabilities, loans or director balances. Details of the accounting period and any prior-year figures are also helpful. The clearer and more complete the records, the more straightforward the preparation process tends to be.