─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Broughton In Furness

If your company is based in Broughton In Furness and you are considering the simplest available reporting framework for small companies, FRS 105 Micro Entity Accounts may be the right fit. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to use the UK micro-entities regime. It allows for a streamlined balance sheet, a small number of supporting notes and a profit and loss account that does not have to be filed at Companies House. Professional preparation of FRS 105 Micro Entity Accounts can help ensure your figures are presented consistently with the framework, that the disclosures included are the ones that actually apply to your circumstances, and that the accounts tie back to your accounting records and other filings. Eligibility is not automatic, and there are rules and exclusions that can affect whether the micro-entities regime is available to a particular company. We can review your position, confirm whether FRS 105 is appropriate for your accounting period, and prepare accounts that reflect the way your Broughton In Furness business actually trades.

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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 302 reviews 
    
 
 
 
   
 
 
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 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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 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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 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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 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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 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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Reporting Framework Behind Micro-Entity Accounts

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook a very small company follows when it prepares its annual accounts under the micro-entities regime. The regime itself is a set of legal provisions that gives qualifying companies a lighter reporting burden, and FRS 105 is the standard that applies when a company chooses to use it. Under FRS 105 you prepare a balance sheet, a profit and loss account and a small set of notes, with simpler measurement rules than larger frameworks and far less disclosure. One practical feature is that the profit and loss account is not filed at Companies House, although it still needs to be prepared and kept with the company’s records. There is also no requirement to produce a directors’ report under the regime, and the accounts are expected to be prepared on the basis that the company is a going concern. Choosing the micro-entities regime is a decision, not something that happens to a company automatically, and FRS 105 applies when that choice is made. For a Broughton In Furness company weighing up how much detail to include in its annual accounts, understanding this distinction is often the starting point for a sensible conversation about FRS 105 Micro Entity Accounts.

Who Can Use FRS 105 in the UK? Companies That Qualify for the Micro-Entities Regime

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 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 give a helpful indication of scale, but they are only part of the picture. The micro-entities regime also comes with its own rules and a list of exclusions, so a company that appears to fall within the size conditions may still not be eligible — for example, certain types of entity and certain regulated or listed companies are outside the regime. Eligibility should therefore be confirmed by looking at the company’s specific circumstances, its accounting period and the applicable rules, rather than relying on the thresholds alone. Directors of companies around Broughton In Furness sometimes assume that being small means they are automatically on the micro-entities regime, and it is worth checking whether FRS 105 Micro Entity Accounts are genuinely the right basis before preparing a set of accounts on that footing.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is not simply a matter of copying last year’s numbers into a template. The figures need to come from your bookkeeping and financial records, be measured on the basis set out in FRS 105, and be presented in the format the framework requires. In practice that means reviewing your income and expenses, checking the balance sheet items such as fixed assets, debtors, creditors and cash, and making sure the notes disclose what is relevant without adding disclosure that the micro-entities regime does not call for. It also means keeping the different filing obligations separate. FRS 105 accounts are the statutory financial statements, and for a company registered in England and Wales they are filed at Companies House. A Corporation Tax Return, known as a CT600, is a separate submission made to HMRC, and it is prepared on tax rules rather than accounting rules — the two are related, but they are not the same document and they are not filed in the same place. For Broughton In Furness directors, having the accounts prepared with both the reporting framework and the tax position in mind helps avoid mismatched figures and last-minute surprises. What we can do is prepare your accounts carefully from the information you provide and explain the basis on which they have been put together; what no adviser can honestly promise is a particular outcome or acceptance by a third party.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Broughton In Furness

Whether you are preparing to file for the first time, switching from a more detailed reporting framework, or simply want your FRS 105 Micro Entity Accounts handled properly, the best next step is a straightforward conversation. Tell us about your company — how it trades, your accounting period, your current bookkeeping arrangements and any changes during the year — and we can assess whether the micro-entities regime is likely to suit your circumstances. If you already have draft accounts, management figures or a previous set of filed accounts, sharing those helps us understand your position more quickly. We will explain what information we need, how the accounts will be prepared, and how the Companies House filing sits alongside your separate Corporation Tax obligations with HMRC. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and to find out how we can help.

─── 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 qualifying company that has chosen to apply the micro-entities regime prepares its annual accounts, including the format of the balance sheet and profit and loss account, the measurement rules and the limited notes and disclosures required. It is deliberately simpler than the standards used by larger companies, which is why it is attractive to very small businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualification depends on meeting the size conditions for the regime and on not falling foul of the various rules and exclusions that can rule a company out. Qualifying is not the same as being required to use it — a qualifying company may instead prepare accounts under a different framework, such as FRS 102 Section 1A.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, but it is also entitled to prepare its accounts under a fuller framework. Many directors choose FRS 105 for its simpler presentation and reduced disclosure, while others prefer the additional detail that a different standard provides.

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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those size conditions is not on its own a guarantee of eligibility, because other rules and exclusions can apply to particular companies or types of entity.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the standard for companies using the micro-entities regime and is the more streamlined of the two, with simpler measurement rules, fewer note disclosures, no requirement for a directors' report under the regime, and a profit and loss account that is not filed at Companies House. FRS 102 is a broader financial reporting standard used by a much wider range of companies, including small companies that apply Section 1A. The framework a company uses affects the level of detail in its accounts and, in some cases, the amounts recognised.

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

Yes. Where FRS 105 accounts are the company's statutory financial statements, they need to be filed at Companies House in line with the company's filing obligations. Under the micro-entities regime the profit and loss account is not filed, but it still has to be prepared and retained with the company's records. Filing the accounts at Companies House is a separate exercise from submitting a Corporation Tax Return to HMRC.

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

Yes, they are separate. FRS 105 accounts are the statutory financial statements prepared under the accounting framework, while the CT600 is the Corporation Tax Return submitted to HMRC. The accounts are usually the starting point for the tax computation, but tax rules differ from accounting rules, so adjustments are commonly needed. Filing accounts at Companies House does not discharge a company's Corporation Tax filing obligations, and vice versa.

What information is needed to prepare FRS 105 accounts?

Typically we need a complete set of records for the accounting period, including bank statements, sales and purchase records, expense receipts, details of fixed assets and any finance agreements, payroll information if the company employs staff, and details of debtors, creditors, loans and directors' transactions. Your previous year's accounts, VAT returns and management accounts are also helpful for context. The cleaner and more complete the records, the more straightforward the preparation process tends to be.