Do You Qualify?
To use the FRS 105 standard, your company must meet at least two of the following three conditions for two consecutive financial years.
Turnover
£632,000
Or less per year (adjusted proportionately if your financial year is shorter or longer than 12 months).
Balance Sheet
£316,000
Or less in total assets (fixed assets plus current assets, before deducting liabilities).
Employees
10
Or fewer average employees across the financial year.
The Trade-Offs of FRS 105
While FRS 105 offers simplicity and privacy, it is not always the right commercial decision. We help you navigate these risks.
Loss of Commercial Privacy
Filing standard accounts when you qualify for Micro-Entity status unnecessarily exposes your profit margins to competitors and customers.
Over-Complicated Compliance
Applying complex accounting standards to a simple business increases your accountancy fees without adding any commercial value.
Credit Score Impact
While privacy is great, filing a minimal balance sheet can sometimes restrict your ability to secure large credit lines or commercial mortgages.
Precision Preparation
Eligibility Check
We verify you meet 2 of 3 criteria: Turnover < £632k, Balance Sheet < £316k, Employees < 10.
Data Extraction
We pull your trial balance from Xero/QuickBooks and perform a high-level reconciliation.
FRS 105 Application
We strip away complex accounting treatments (like revaluations) to simplify the balance sheet.
Tax Optimisation
We calculate your Corporation Tax liability, ensuring all valid business expenses are claimed.
Private Filing
We submit the minimal balance sheet to Companies House and the full CT600 to HMRC.
What You Receive
Statutory Balance Sheet
The minimal public record filing.
CT600 Tax Return
The statutory HMRC corporate tax filing.
Tax Computation
The detailed breakdown of tax adjustments.
Director's Certificate
Legal sign-off for the micro-entity accounts.
iXBRL Tagging
Digital code required for submission.
Dividend Vouchers
Documentation for profit extraction.
Common Questions
For private limited companies, accounts must be filed at Companies House within 9 months of your company's financial year-end. Late filing results in automatic penalties.
No. If you qualify as a 'Micro-Entity', you can choose to file accounts that keep your Profit & Loss statement private from the public register.
Directors are legally responsible for the accuracy of accounts. Errors can lead to HMRC investigations, fines, and in severe cases, personal liability or strike-off action.
Yes. We evaluate your turnover, staff headcount, and strategic goals (like seeking investment or building credit) to recommend the optimal framework (e.g., FRS 105 vs FRS 102 1A).
