─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Yelverton

FRS 105 Micro Entity Accounts give qualifying companies in Yelverton a simpler, more proportionate way to prepare and report their annual financial statements. FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime, and it applies where a company both qualifies for that regime and chooses to apply it. It is not a default that every small company falls into, and meeting the size conditions alone does not automatically mean FRS 105 is appropriate — other eligibility rules and exclusions can affect the position. Professional preparation helps you work through those questions properly, so the accounts reflect your actual trading activity, asset and liability position, and the framework that genuinely applies to your circumstances. If you run a micro-entity in or around Yelverton, we can help you decide whether FRS 105 Micro Entity Accounts are the right fit and then prepare them carefully from your records.

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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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that tells you how the figures in your annual accounts should be recognised, measured and presented when your company applies the micro-entities regime. That regime is a lighter accounting framework available under company law to companies that qualify for it — and choosing it is a decision, not an obligation. Where a qualifying company chooses to apply the micro-entities regime, FRS 105 is the standard used to prepare its financial statements. Because FRS 105 is built around simpler measurement and disclosure requirements, the resulting accounts are usually shorter and more straightforward than accounts prepared under a fuller framework, focusing on the essentials: a balance sheet, and the notes that the standard requires. It does not change your underlying tax position or replace other filings. Understanding this distinction early helps you avoid preparing accounts on the wrong basis, and it keeps your reporting consistent from one year to the next.

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 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 figures are a useful starting point, not the whole test. Eligibility also depends on the wider rules that govern the micro-entities and small companies regimes, and various exclusions can apply — for example, a company that forms part of an ineligible group, or one that is excluded from the small companies regime for another reason, may not be able to use FRS 105 even if its numbers look small enough. Because the position can change as a company grows, takes on investment, restructures, or changes what it does, it is worth reviewing eligibility each year rather than assuming the same basis continues to apply.

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 means starting from reliable financial records and applying the standard consistently to your company’s own circumstances. We work through your bookkeeping, bank records, sales and purchase information, asset details and any balances owed to or by the company, then build the financial statements on that foundation. Alongside the preparation of the accounts themselves, it helps to keep the different filing obligations clearly separated: the financial statements are prepared under the applicable reporting framework, statutory accounts are delivered to Companies House, and any Corporation Tax Return (CT600) is a separate submission made to HMRC. These are connected in the sense that they draw on the same underlying figures, but they are not the same thing, and treating them as interchangeable can lead to avoidable errors or omissions. Our role is to prepare the accounts carefully and explain the basis on which they have been prepared, so you understand what has been filed and why.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Yelverton

If you are unsure whether FRS 105 Micro Entity Accounts suit your company, or you simply want the preparation handled properly, the next step is a conversation. Tell us about your company — what it does, how it trades, how long you have been operating, and the records you already keep — and we can assess your circumstances and explain the options available to you. We will also let you know what information we need to prepare the accounts, and how the accounts sit alongside your other filing responsibilities. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and to find out how we can support your reporting in Yelverton and the surrounding area.

─── 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 a company that applies the micro-entities regime should recognise, measure and present the items in its annual financial statements. It is deliberately shorter and less detailed than the standards used by larger companies, so the resulting accounts tend to be more concise and focused on the core information.

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it — it is an available accounting regime, and a qualifying company may instead report under a fuller framework. Meeting the size conditions on their own does not guarantee eligibility, because other rules and exclusions can also apply, such as where a company forms part of an ineligible group.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not a requirement. A company that qualifies for it can choose whether to apply it, and FRS 105 is the standard used when that choice is made. Some qualifying companies prefer to prepare accounts under a fuller framework, for example where the directors want to present a more detailed set of financial statements or where a lender or investor has asked for that level of reporting.

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. These are size conditions rather than a complete test of eligibility, and the relevant rules and exclusions can still prevent a company from using the regime.

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 produce different levels of detail. FRS 102 is the standard generally used by larger small companies and by many entities outside the micro-entities regime, and it includes more measurement options and more extensive disclosure requirements. FRS 105 is the simpler micro-entity standard, with reduced recognition and disclosure requirements. Which one applies depends on whether the company qualifies for the micro-entities regime and which regime it chooses.

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

Yes. A company that prepares accounts under the micro-entities regime still has to deliver its statutory accounts to Companies House. What often differs is how much of the accounts is filed publicly: micro-entity companies typically file a simplified version, while the directors remain responsible for preparing the fuller accounts for the company's members. Filing the accounts is separate from dealing with Corporation Tax, which is handled through HMRC.

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

Yes, they are separate obligations. FRS 105 governs how the financial statements are prepared, while the CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The accounts provide much of the information used to complete the return, so the two should be consistent, but preparing FRS 105 Micro Entity Accounts is not the same as filing a CT600, and meeting one deadline does not satisfy the other.

What information is needed to prepare FRS 105 accounts?

In practice we need a clear picture of the company's trading for the period, which usually means bookkeeping or accounting records, bank statements, sales and purchase information, details of any assets owned, and a list of amounts owed to and by the company at the year end. If you have already produced figures yourself or have previous accounts, those are helpful too. Once we see what you hold, we can tell you exactly what is missing.

What changes are coming to micro-entity accounts filing?

Companies House filing requirements are being updated, with a move towards filing accounts digitally using recognised software and with more information required as part of the small and micro company accounts filing process. The detail and the accounting periods affected are set out in the relevant regulations, so it is worth reviewing your current processes — including how your records are kept and which software you use — before the changes take effect for your company.