─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Weston-super-Mare

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to companies choosing the UK micro-entities regime. In Weston-super-Mare, many small limited companies find that the micro-entities regime offers a simpler, shorter set of financial statements than fuller reporting standards, but the regime is a choice rather than an automatic entitlement — a company must qualify for it, and it must decide to apply it. Professional preparation helps you work through that decision properly, then build a set of FRS 105 financial statements from your own accounting records that reflects your company’s actual circumstances, including its turnover, assets and liabilities, and any transactions that need particular care, such as director’s loans or non-standard income. It also helps to keep the accounts, the Corporation Tax position and the Companies House filing aligned and consistent, so nothing on one document contradicts another.

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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 covered by the UK’s micro-entities regime. If your company qualifies for that regime and you choose to use it, FRS 105 is the standard your annual financial statements are prepared under. In practical terms, it produces a simpler set of accounts than the fuller standards used by larger companies: the balance sheet and profit and loss account are presented in a prescribed, streamlined format, assets are generally kept at historical cost rather than being revalued, and far fewer notes and disclosures are required. That simplicity is the point — it lowers the reporting burden for genuinely small businesses. What FRS 105 does not do is change your tax position, and it does not remove the need to keep proper accounting records or file accounts at Companies House. Companies in Weston-super-Mare that use FRS 105 still need accurate bookkeeping underneath the numbers, because the accounts have to be capable of being prepared from, and reconciled to, those records.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

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 the 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. Importantly, hitting those numbers does not guarantee access to the regime. Certain other eligibility rules and exclusions apply, some company types are treated differently, and the assessment is made on the particular facts of the period in question. That is why eligibility is best confirmed before accounts are prepared on an FRS 105 basis — particularly for companies in Weston-super-Mare whose turnover or staffing has grown, who have taken on investment, or whose activities have changed during the year. Where a company does qualify and chooses the micro-entities regime, FRS 105 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 is a process of turning the financial records your company already keeps into a formal set of financial statements that follows the applicable reporting requirements. That means checking that income and costs have been recorded in the right period, making sure debtor and creditor balances are supportable, confirming that fixed assets and any loans are treated appropriately under the micro-entities regime, and presenting the balance sheet and profit and loss account in the format the standard requires. It also means looking at whether the micro-entities regime genuinely suits your circumstances this year, since eligibility is assessed against the size conditions and other rules rather than assumed. Once the FRS 105 accounts are finalised, the statutory accounts are filed at Companies House, while the company’s Corporation Tax obligations are dealt with separately through a Company Tax Return (CT600) submitted to HMRC. Keeping those two strands distinct — and making sure the figures behind them agree — is a routine part of what we handle for companies in Weston-super-Mare.

ICAEW

ACCA

AAT

Need Help With Your FRS 105 Micro Entity Accounts in Weston-super-Mare?

If your company may qualify for the micro-entities regime and you would like your FRS 105 Micro Entity Accounts prepared properly, get in touch and tell us about your business. It helps if you can share your latest trial balance or bookkeeping records, details of any fixed assets, loans or director’s transactions, your previous year’s accounts if you have them, and confirmation of your accounting period and any changes in activity during the year. With that information we can look at whether FRS 105 is appropriate for your circumstances, explain the options clearly, and set out transparent, fixed-fee pricing for the work involved. Whether you are newly incorporated in Weston-super-Mare or have been trading for years, we are happy to talk through your requirements before you commit to anything.

─── 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 how their annual financial statements are prepared, including the formats for the balance sheet and profit and loss account and the limited disclosures required. It is deliberately simpler than the standards used by larger companies, which is why it appeals to genuinely small businesses that want a shorter, more straightforward set of accounts.

Who can use FRS 105?

FRS 105 is available to 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, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Other rules and exclusions can affect whether the regime is available, so meeting the size conditions alone does not automatically mean a company qualifies, and eligibility should be checked for each period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to prepare accounts under a fuller standard, for example because they want to present revalued assets, provide more disclosure, or meet the expectations of a lender or investor. The decision is normally reviewed each year as circumstances change.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is designed for micro-entities, keeps assets at historical cost in most cases, and requires far fewer notes to the accounts. FRS 102 is the standard used by many larger small companies and other entities; it permits or requires more detailed measurement and disclosure, such as revaluations and fair value adjustments, and produces a longer set of financial statements. Choosing between them is really a question of eligibility, what the accounts need to show, and who will be reading them.

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

Yes. FRS 105 accounts are the company's statutory accounts, and they need to be filed at Companies House along with the other information required for that filing. The accounts themselves are prepared for the company's members and then submitted as part of your statutory obligations. The format of filing is changing over time — Companies House has been moving towards software-based filing of accounts — so it is worth checking the current requirements for your filing rather than relying on how it was done a few years ago.

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

Yes, they are two different things. FRS 105 accounts are the financial statements prepared under the micro-entities accounting framework, and they are filed at Companies House. A CT600 is a Company Tax Return submitted separately to HMRC to report the company's Corporation Tax position. The accounts figures normally form the starting point for the tax computation, but the CT600 is not the same document as the accounts, and filing one does not satisfy the other.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime and chooses to apply it. First-period accounts can cover more or less than twelve months, which sometimes affects how the size conditions are assessed, so it is worth looking at the position carefully rather than assuming. If you have just started trading in Weston-super-Mare and expect to stay small, it is a sensible conversation to have early, because the framework you use shapes how your records need to be kept.

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

Typically we would need your accounting records or a trial balance for the period, bank and credit card statements, sales and purchase information, payroll figures if you employ staff, details of any fixed assets bought or sold, loan balances and any director's loan movements, plus your previous year's accounts or opening balances if you have traded before. Anything unusual during the year — a grant, a one-off payment, a change of accounting period — should be flagged. The more complete the records, the more straightforward the preparation process tends to be.