─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in West Lothian

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying companies choosing to use the UK micro-entities regime. It is a simplified framework, but it still requires the figures to be recognised, measured and presented in line with the standard, and the accounts still need to be prepared from complete and accurate accounting records. Working with someone who understands FRS 105 Micro Entity Accounts in West Lothian means your financial statements are put together with the micro-entities regime in mind, from the balance sheet through to the notes, and that the resulting accounts are consistent with your underlying records and your company’s circumstances. Eligibility is not automatic: a company must meet the applicable size conditions and not fall within any of the relevant exclusions before it can choose the regime, so the first step is usually a practical review of your position before any accounts are prepared.

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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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 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: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for companies that apply the micro-entities regime. In plain terms, it is the rulebook that sets out how a qualifying micro-entity recognises, measures and presents the items in its financial statements, and it is deliberately shorter and simpler than the standards used by larger companies. A company only uses FRS 105 if it qualifies for the micro-entities regime and chooses to apply it — qualifying is not the same as being required to use it, and many companies that could use FRS 105 instead prepare accounts under the small companies regime. When the micro-entities regime is chosen, FRS 105 Micro Entity Accounts typically centre on a balance sheet with limited notes, and the level of disclosure is reduced compared with fuller frameworks. For directors in West Lothian, the practical value is straightforward: a reporting framework designed around the size, structure and resources of a genuinely small company, with less complexity to work through each year.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide 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. Those thresholds are the starting point, not the whole test. Other eligibility rules and exclusions can apply, and some companies that meet the size conditions may still be unable to use the regime, while others simply choose the small companies regime instead. That is why eligibility for FRS 105 Micro Entity Accounts in West Lothian should be reviewed against the company’s own structure, ownership and transactions before a framework is selected for the year.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records: bookkeeping entries, bank and cash transactions, sales and purchase invoices, payroll information, asset purchases and disposals, stock where relevant, and details of any director’s loan account. Those records are then used to build the financial statements in line with FRS 105 and the disclosure requirements that apply to a micro-entity. It is important to keep two things separate. First, the accounts themselves form part of your statutory financial statements, and micro-entity accounts are generally filed with Companies House as part of the company’s annual accounts filing. Second, Corporation Tax is dealt with through a separate CT600 return submitted to HMRC. The figures in the accounts usually inform the tax return, but they are different documents with different purposes and different submission routes. Professional preparation focuses on getting the accounting treatment and presentation right for your circumstances and on keeping the accounts and the tax position properly aligned, without making assumptions about how any filing will be received.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in West Lothian

If you would like to discuss your FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to have a rough picture of your trading activity, your turnover and balance sheet position, your employee numbers, and whether you have already filed accounts under a different framework in earlier years. From there, we can review whether the micro-entities regime looks suitable and available for your circumstances, explain what the accounts will include, and set out what we need from your records. Whether you are preparing FRS 105 Micro Entity Accounts for the first time or switching frameworks, a short conversation is usually the quickest way to get clear on the next step.

─── 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 recognition and measurement rules for the items in the financial statements and requires a reduced level of disclosure compared with other frameworks. In practice, FRS 105 Micro Entity Accounts are shorter and simpler than accounts prepared under the small companies regime, but they still need to be prepared correctly from accurate accounting records.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualification depends on meeting the applicable size conditions and not falling within any of the relevant exclusions, which can include certain types of company and entities that are part of a group or are otherwise ineligible. Many small companies that do not qualify for the micro-entities regime, or that prefer fuller disclosure, use FRS 102 Section 1A instead.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A qualifying company can generally choose between the micro-entities regime, with FRS 105, and the small companies regime, with FRS 102 Section 1A, provided it meets the relevant conditions for whichever framework it selects. Once a framework is chosen it should be applied consistently, so the decision is worth thinking through rather than leaving to default.

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 those size conditions is not the whole story — other eligibility rules and exclusions can apply, so the position should be checked for your company's specific circumstances rather than assumed.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the framework for qualifying micro-entities, while FRS 102 is a broader framework; Section 1A of FRS 102 is the small companies regime. FRS 105 allows fewer accounting policy options, applies simpler measurement rules in a number of areas, and requires far less disclosure, which is why micro-entity accounts are typically much shorter. FRS 102 Section 1A sits between FRS 105 and full FRS 102, so the right choice depends on eligibility, the company's transactions, and how much information the directors want or need to present.

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

Micro-entity accounts form part of the company's annual statutory accounts and are generally filed with Companies House as part of that annual filing. Companies that qualify as small are not required to file a profit and loss account, so what is filed is usually a balance sheet with limited notes. Companies House does not approve or review the accounts in an accounting sense, and filing accounts is a separate obligation from filing a Corporation Tax Return with HMRC.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities reporting framework, whereas the CT600 is the Corporation Tax Return submitted to HMRC. The two are linked because the tax return normally starts from the figures in the accounts, with any necessary tax adjustments made on top, but they are different documents, submitted to different bodies, and prepared to different requirements.

What information is needed to prepare FRS 105 accounts?

You will normally need complete bookkeeping records for the period, bank and cash statements covering the same dates, sales and purchase invoices or summaries, payroll information if you employ staff, details of asset purchases and disposals, stock or work in progress figures where relevant, and details of any director's loan account movements. Prior year accounts, share capital information and company details are also useful. If you use accounting software, giving access to the file is usually the most efficient starting point.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime, and therefore FRS 105, if it meets the applicable size conditions and is not caught by any exclusion. A first accounting period that runs for longer than twelve months can affect how the size conditions are assessed, so the first set of accounts should be looked at carefully rather than assumed to fall within the regime. It is also worth noting that a company may qualify in one year and not another, so eligibility is worth reviewing annually.