Financial statements - FRS 105

The micro-entity template offers a convenient way to produce financial statements in iXBRL format under FRS 105.

FRS 105 is the Financial Reporting Standard applicable to the Micro-entities Regime, which permits a micro-entity company to meet the requirement of providing a true and fair view, while presenting the minimal of information in its annual financial statements.

A micro-entity company can choose to report under FRS 105, or under the alternative of FRS 102 Section 1A Small Entities if that is more suitable.

A company will qualify as a micro-entity if it does not exceed at least two of these annual thresholds:

Note that the template is for companies limited by shares, not limited by guarantee.

How does it work?

The template runs in Microsoft Excel on the Windows operating system. You should also have a modern web browser installed. Use the Download button to get a copy of the template which you can save on your computer.

After you have entered data into the template, at any time you can freely generate the financial statements on the fly to make sure they are correct.

To create the financial statements in iXBRL format, set up a user account using the Register button below, or from within the template itself.

The iXBRL format financial statements are produced in an instant, and can be saved on your computer to submit to HMRC with the company tax return.

The cost of a single micro-entity iXBRL conversion credit is £26, less if you buy multiple credits, and you can purchase conversion credits via PayPal using the Buy button below.