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FRS 105 Software

Micro-entity accounts software.

Take advantage of the simplified FRS 105 reporting standard. Our software structures your financials perfectly for both Companies House and HMRC without any unnecessary complexity.

File Micro-Entity AccountsCheck Eligibility
Not a micro-entity? See: Small Company Accounts • Dormant Company Accounts
ELIGIBILITY

Do you qualify as a micro-entity?

Your company must meet at least two of the three size thresholds for two consecutive years (or in its first year) to qualify.

Periods beginning before 6 April 2025

  • Turnover of £632,000 or less
  • Balance sheet total of £316,000 or less
  • 10 or fewer employees on average

Periods beginning on/after 6 April 2025

  • Turnover of £1,000,000 or less
  • Balance sheet total of £500,000 or less
  • 10 or fewer employees on average
Exclusions: You cannot use FRS 105 if your entity is a Limited Liability Partnership (LLP), a charity, a regulated financial entity, or a company forming part of a group required to prepare consolidated accounts.

What FRS 105 accounts include

FRS 105 heavily reduces your disclosure burden. The balance sheet is simplified, presenting fixed assets as a single collapsed line. There is no requirement for revaluation accounting, deferred tax, or fair value accounting. You are also exempted from filing a profit & loss account or a directors' report with Companies House.

How WeFile prepares them

You only need to enter your profit & loss and balance sheet figures once. We automatically compute your corporation tax liability and generate the specific iXBRL tagging required for micro-entities, separating the public submission for Companies House from the detailed submission for HMRC.

COMPARISON

Micro-entity vs Small Company

Feature
Micro-entity (FRS 105)
Small Company (FRS 102 1A)
Turnover Threshold (Current)
≤ £1 million
≤ £15 million
Fixed Assets
Single collapsed line
Detailed breakdown notes
P&L filed at Companies House
No
Optional (Filleted)
Revaluation / Fair Value
Prohibited
Permitted
Deferred Tax
No
Yes

Need detailed reporting? Read about our Small Company Accounts Software.

PRICING

File micro-entity accounts affordably

Dormant Company

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  • Companies House Filing
  • CT600 Nil Return
  • Generated iXBRL Accounts
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Most Popular

Trading Company

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  • Full CT600 Return
  • Companies House Accounts
  • CT600A and CT600E Support
  • Auto Tax Calculation
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Accountant Membership

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  • Up to 100 Filings
  • Priority Support
  • Client Management
  • All Filing Types Included
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FAQ

Frequently asked questions

A micro-entity is the smallest category of UK company size. If your company meets the thresholds regarding turnover, balance sheet total, and employee count, you can file simpler accounts using the FRS 105 standard.
FRS 105 is the Financial Reporting Standard applicable to the Micro-entities Regime. It significantly reduces disclosure requirements and simplifies accounting policies compared to standard full accounts.
When filing with Companies House, micro-entities are not required to submit a profit and loss account or a directors' report. However, HMRC still requires the full P&L to calculate corporation tax.
Yes. Directors are legally permitted to file their own micro-entity accounts. WeFile makes this straightforward by handling all the necessary iXBRL tagging.
No. Micro-entities are almost universally exempt from audit requirements due to their size, saving substantial professional fees.
Yes, you can choose to 'trade up' and prepare Small Company (FRS 102 Section 1A) accounts even if you qualify as a micro-entity, should you need to present more detailed financials to lenders or investors.
Yes, being a micro-entity only simplifies the presentation of your statutory accounts. You are still legally obligated to file a CT600 Corporation Tax return with HMRC.