─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wrexham

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework for UK companies that qualify for the micro-entities regime and choose to apply it. FRS 105 is a distinct, simplified framework — it is not the same as FRS 102 and it is not something every small company can automatically use. Eligibility depends on meeting the applicable size conditions and on the company not being excluded for other reasons, so it is worth checking carefully before deciding which framework fits. Our role is to take your bookkeeping and financial records, confirm how the micro-entities regime applies to your circumstances, and prepare FRS 105 financial statements that reflect your company’s position clearly and consistently. For directors in Wrexham running a small limited company, that means a set of micro-entity accounts built around your actual transactions, presented in the format the framework expects, and ready to support the separate filings that follow. We explain the choices in plain English, flag anything that needs your attention, and make sure you understand what has been prepared in your company’s name.

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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: The Framework Behind Micro-Entity Financial Statements

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is an optional accounting regime available to companies that fall within the relevant size limits. Put simply: the UK has a set of accounting regimes, and qualifying companies can choose to apply the micro-entities regime; when that choice is made, FRS 105 is the standard used to prepare the financial statements. FRS 105 is deliberately streamlined. It allows a shorter, simpler set of financial statements than the fuller frameworks, with fewer disclosures, which is why it suits very small companies that want accounts that are straightforward, proportionate and easy for the reader to follow. It still has to be done properly — the figures must be complete and accurate, the format must follow the standard, and the accounts must be consistent with your underlying records. FRS 105 also assumes a simple measurement approach, so it is not the right fit for every company: businesses with more complex transactions, certain group relationships or specific exclusions may be better served by a different framework. In Wrexham we work with directors who want to understand exactly what FRS 105 Micro Entity Accounts involve before committing, and we are happy to talk through whether the micro-entities regime is realistically available to your company.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. Both parts matter: qualifying makes the regime available, and applying it is a decision the directors make. 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 during the period. Meeting those size tests is an important part of the picture, but it is not the whole picture. The rules include further conditions and a range of exclusions, so a company that sits comfortably inside the thresholds can still fall outside the micro-entities regime for other reasons, and a company that is close to the limits needs to consider where it stands carefully. Eligibility can also change from year to year as a business grows, takes on staff or changes its balance sheet. For directors in Wrexham, the practical approach is to look at your actual figures and circumstances rather than assuming either way, and to confirm the position before the accounts are prepared.

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 largely a process of turning reliable records into a properly structured set of financial statements. We start from your accounting records — sales, purchases, bank activity, payroll information where relevant, asset and liability balances, and any supporting documentation — and build the accounts from there. The work includes getting the figures right, applying the framework’s presentation and measurement requirements, and making sure the accounts are internally consistent and understandable to a reader. Where your company also has Corporation Tax obligations, those are handled separately: FRS 105 accounts are the financial statements, while a CT600 is the Corporation Tax Return submitted to HMRC on a different basis and to a different body. Filings with Companies House are likewise a separate step from the tax return, even though the figures often flow from the same records. We can prepare the financial statements and deal with the Companies House filing, and we can also support you with your Corporation Tax position, but these are distinct pieces of work. Our aim is accurate financial reporting that reflects what actually happened in your business, prepared on the basis that applies to your company.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Wrexham

If you are weighing up whether FRS 105 Micro Entity Accounts are the right route for your company, the sensible next step is a conversation. Tell us about your business — what you do, how you trade, roughly what your turnover and balance sheet look like, how many people you employ, and whether anything unusual happened during the year. That is usually enough for us to give you a considered view on whether the micro-entities regime is likely to be available to you, and what the accounts would involve if it is. If you already have records ready, we can look at those as well. We will explain what information we need, how the preparation process works, and what our clear, transparent pricing covers, so you can decide with confidence rather than guesswork. Get in touch with our Wrexham team to discuss your circumstances and take 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 for micro-entities. It sets out how qualifying companies that have chosen to apply the micro-entities regime should prepare their financial statements. It is a simplified framework — fewer disclosures and a shorter, more streamlined format than fuller standards — but it still requires complete, accurate figures presented in the prescribed way. It is a reporting standard, not a tax return, and it does not by itself determine how much tax a company pays.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not automatic. 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 — for accounting periods beginning on or after 6 April 2025. On top of the size conditions, certain rules and exclusions can affect whether the regime is available, and some companies are specifically excluded. Because eligibility depends on your individual circumstances, it is worth checking before you assume FRS 105 applies to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies for it can choose to apply it, in which case FRS 105 is the standard used to prepare the financial statements. Alternatively, a qualifying company may decide to use a fuller framework such as FRS 102. The choice is usually made with reference to the company's circumstances — its transactions, its stakeholders and what the directors need from the accounts — and it should be applied consistently once made.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company and they produce different accounts. FRS 105 is the micro-entity standard: it is deliberately brief, with limited disclosure requirements and a simplified measurement approach. FRS 102 is the fuller standard and is used by a much wider range of companies, including small companies that do not qualify for (or choose not to use) the micro-entities regime. FRS 102 accounts generally involve more detailed disclosures and more complex measurement rules. The right framework depends on eligibility and on what the company needs from its reporting.

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

Where a company prepares accounts for a financial year, those accounts normally need to be filed with Companies House, and that applies to micro-entity accounts prepared under FRS 105 as well. Filing is a separate step from Corporation Tax: Companies House receives the accounts, while HMRC receives the Corporation Tax Return. Reduced disclosure under FRS 105 does not remove the filing obligation — it changes what the accounts contain. The exact filing position can depend on your company's circumstances, so it is worth confirming what applies to you.

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

Yes, they are two different things. FRS 105 accounts are the company's financial statements, prepared under the micro-entity reporting framework. A CT600 is the Corporation Tax Return submitted to HMRC, which deals with how the company's profits are taxed. They are prepared on different bases for different purposes and go to different recipients, although the figures in your accounts will often inform the tax return and the two should be consistent with each other. Completing one does not complete the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime if it meets the relevant conditions, but being new does not make it automatic. Size conditions apply, and there are other rules and exclusions to consider. A first-year company with limited activity may well fall within the thresholds, but the directors still need to confirm the framework is appropriate for the company's circumstances — particularly if it has unusual transactions, group involvement or interests that affect eligibility. It is a good idea to settle the reporting framework early rather than at filing time.

What information is needed to prepare FRS 105 accounts?

In broad terms we need your complete accounting records for the period: sales and income, purchases and expenses, bank and cash activity, payroll details where you employ staff, and supporting documents such as invoices, statements and contracts. We also need information on assets and liabilities — any equipment or vehicles, amounts owed to and by the company, loans, and stock if you hold it. For a first set of accounts, details of anything brought forward or introduced by the directors help too. The cleaner the records, the more straightforward the preparation, and we will tell you exactly what we need once we understand your business.