─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Yarnton

FRS 105 provides the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. If your Yarnton company meets the relevant size conditions and the directors decide to use the regime, your annual accounts are prepared under FRS 105 rather than the fuller disclosure requirements of FRS 102. In practice, that usually means a shorter set of financial statements prepared on a historical cost basis, with far fewer notes and no revaluation or fair value accounting. Professional preparation helps ensure the accounts are put together appropriately for your company’s circumstances, that the figures agree with your underlying records, and that the balance sheet includes the required statement confirming the accounts are prepared in accordance with the micro-entities regime. It also reduces the risk of inconsistencies between the accounts, the Companies House filing and the information used for the Corporation Tax Return.

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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: A Simple Guide to FRS 105 Micro Entity Accounts in Yarnton

FRS 105 is the UK financial reporting standard written specifically for the micro-entities regime. In plain terms, it is a simplified set of accounting rules that a qualifying company may choose to use when preparing its annual financial statements. Under FRS 105, accounts are prepared on a historical cost basis, so there is no revaluation of assets and no fair value accounting, and the notes to the accounts are kept to a minimum compared with other frameworks. The result is a shorter, cleaner set of financial statements that is still expected to give a true and fair view of the company’s position. It is important to be clear that FRS 105 is optional: it applies only where a company both qualifies for the micro-entities regime and the directors choose to apply it. Companies that do not qualify, or that prefer fuller reporting, will use a different framework such as FRS 102.

Who Can Use FRS 105 in the UK? Eligibility for FRS 105 Micro Entity Accounts

FRS 105 is intended for 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 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. Passing those size tests does not, on its own, guarantee eligibility, because the regime also carries its own rules and exclusions — certain group relationships, particular sectors such as financial institutions and investment undertakings, and companies whose securities are admitted to trading on a regulated market are among the situations that can rule the regime out. It is also worth remembering that the regime is a choice rather than an obligation: a qualifying company can still prepare accounts under a fuller framework such as FRS 102 if that suits its circumstances better. In Yarnton and across the UK, the sensible approach is to check your company’s position for the specific accounting period before deciding, and to revisit that decision as the business develops.

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 in Yarnton

Preparing FRS 105 Micro Entity Accounts is about more than filling in a template. We work from your company’s financial records — bookkeeping, bank transactions, sales and purchase invoices, payroll information and asset details — to build a set of financial statements that reflects your actual trading position and meets the reporting requirements that apply to the micro-entities regime. That includes the balance sheet with the required micro-entity statement, the profit and loss account prepared for the members, and the limited disclosures FRS 105 requires, with the figures checked for consistency against your records. Filing accounts with Companies House is a separate step from your Corporation Tax obligations: the accounts go to Companies House, while the CT600 is a Corporation Tax Return submitted to HMRC. We can help with both, and we explain clearly what information we need from you at each stage.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Yarnton

If you would like your FRS 105 Micro Entity Accounts prepared and explained without jargon, get in touch to talk through your requirements. It helps if you can share some basic information about your company — the accounting period, your trading activity, the records you hold, and whether anything unusual has happened during the year — so we can assess your circumstances and confirm how we can help. We will set out clearly what is involved, what we need from you and how our fees work, so you can decide whether we are the right fit. Whether you are preparing micro-entity accounts for the first time or moving across from a different accounting framework, a short conversation is usually the quickest way to get started.

─── 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 the micro-entities regime. It sets out the accounting rules and limited disclosure requirements a qualifying company follows when preparing its annual accounts under that regime. In practice, it means a much shorter set of financial statements, prepared on a historical cost basis, with no revaluation or fair value adjustments and only minimal notes. FRS 105 is a framework for your accounts — it is not a tax return, and it does not by itself determine how much Corporation Tax your company pays.

Who can use FRS 105?

FRS 105 can be used by 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 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 tests is not the whole story, because other rules and exclusions can apply — for example, certain group structures and particular sectors can prevent a company from using the regime. Eligibility therefore needs to be checked against your own circumstances rather than assumed.

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 can choose to apply it, in which case FRS 105 governs how the accounts are prepared. Qualifying companies that prefer fuller reporting can instead use a framework such as FRS 102, although that generally means more disclosure and more work. The choice is normally made by the directors, and it is worth reviewing if your company's circumstances, structure or plans change.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they are built for different sizes of company. FRS 105 is the micro-entities standard: historical cost accounting, very limited notes, and no fair value or revaluation options. FRS 102 is used by larger small companies and others, and it allows or requires considerably more — including fair value accounting in some cases, deferred tax, more detailed treatment of financial instruments and a much longer set of disclosures. FRS 105 accounts are usually shorter and simpler to prepare as a result. Moving between the two can affect how figures are presented, so it is worth taking advice before switching.

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

Yes, the accounts still need to be filed with Companies House, within the statutory deadline that applies to your company's accounting reference date. Micro-entity accounts filed at Companies House are generally a balance sheet with the required micro-entity statement and limited notes; the profit and loss account prepared for the members is not filed. Filing the accounts is separate from settling your tax position, and late filing can attract penalties, so it is sensible to plan the year-end work well ahead of the deadline.

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

Yes. Your FRS 105 Micro Entity Accounts and your Corporation Tax Return are two different documents going to two different places. The accounts are prepared under FRS 105 and filed with Companies House. The CT600 is a Corporation Tax Return submitted to HMRC, reporting your company's taxable profits and calculating the tax due, along with any claims or adjustments. The two are linked because they start from the same underlying records, but they are not the same thing, and the figures can differ where tax rules and accounting rules do not match.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and the directors choose to apply it — a company does not have to have been trading for years. Many new companies do start out small enough to qualify, but eligibility still has to be checked against the relevant rules and exclusions, and it can change as the business grows. First-year accounts can also involve decisions about the accounting reference date and the length of the first accounting period. If you are unsure, it is worth asking before you file anything.

What changes are coming to micro-entity accounts filing?

Companies House has been moving away from its older web filing tools and towards software-based filing of accounts, and the information required alongside small and micro-entity accounts is changing — including more detail from the profit and loss side of the business for companies filing under these regimes. Because the detail and timing of these changes can shift, we check the current position when we prepare and file your accounts rather than relying on last year's process. The practical upshot is that clean, well-kept records matter more than ever.