─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cleethorpes

If your company qualifies for the UK micro-entities regime and you have chosen to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the standard that applies when a qualifying micro-entity prepares accounts under the micro-entities regime, and it is deliberately simpler than the frameworks used by larger companies, focusing on a concise balance sheet, a small number of notes and a profit and loss account that does not have to be filed at Companies House in the same way as larger company accounts. For directors in Cleethorpes running a small limited company, the appeal is straightforward: a clearer, shorter set of FRS 105 financial statements that reflects the size and nature of the business without unnecessary complexity. Professional preparation helps ensure those accounts are put together appropriately for your company’s own circumstances — the transactions it has actually entered into, the assets and liabilities it holds, and the disclosures that are genuinely required. Eligibility is not automatic, and it is always worth confirming that the micro-entities regime is available to your company before the accounts are drawn up, particularly if your turnover, balance sheet total or employee numbers have moved during the year.

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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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   Ayotunde Rufai 
 
 
 
 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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   Sofia 
 
 
 
 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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   Zest For Life 
 
 
 
 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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   Pete Wrist 
 
 
 
 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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   Hansen Personal Training 
 
 
 
 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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   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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is the financial reporting standard that applies to companies choosing to use the UK micro-entities regime. In simple terms, it is a simplified accounting framework created for the smallest companies, allowing them to prepare accounts that are shorter and less detailed than those produced under fuller standards. Under FRS 105, a company generally prepares a balance sheet, a profit and loss account and a limited set of notes, with far less disclosure than you would see in FRS 102 accounts. Importantly, FRS 105 does not apply to every small company automatically. A company first needs to qualify for the micro-entities regime, and then the directors need to choose to apply it. If the regime is not used, a different framework such as FRS 102 (Section 1A) would normally be relevant instead. FRS 105 Micro Entity Accounts are therefore about matching the reporting framework to the company: qualifying micro-entities get a proportionate set of FRS 105 financial statements, while everyone else uses the framework appropriate to them. It is also worth being clear that FRS 105 governs how the accounts are prepared and presented — it is separate from a Corporation Tax Return (CT600), which is a tax filing submitted to HMRC, and separate again from a Confirmation Statement, which is a Companies House filing about the company’s officers, shareholders and registered details.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — it is not a framework that every small company can adopt simply because it is small. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable size conditions to fall within the micro-entity size limits: 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 during the period. Meeting two of those three conditions is a useful indication, but it is not the whole test. Other eligibility rules and exclusions apply, and certain companies are excluded from the micro-entities regime altogether regardless of their size. There is also a practical step involved: even where a company qualifies, the directors must actually choose to apply the micro-entities regime for FRS 105 to be used, and that choice should be made with an eye on who relies on the accounts — lenders, investors, or anyone who may want more detail than FRS 105 provides. For directors in Cleethorpes, the sensible approach is to review the company’s figures against the relevant conditions, consider any exclusions, and confirm the position before the accounts are prepared.

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

FRS 105 Micro Entity Accounts are only useful if they are prepared carefully from accurate records. We work from your company’s accounting records — bank transactions, sales and purchase information, payroll details, asset purchases, loans and any other relevant items — and prepare a set of FRS 105 financial statements that reflects what has actually happened in the business during the period. That means applying the recognition and measurement requirements of FRS 105 to your figures rather than simply repeating a trial balance, and considering which of the limited disclosures permitted under the framework are relevant to your circumstances. It is important to keep the different obligations separate. Preparing and finalising the accounts is one piece of work; filing those accounts with Companies House is a separate filing requirement with its own deadlines and format; and a Corporation Tax Return (CT600) is a distinct submission made to HMRC to report the company’s taxable profits. Our role is to prepare FRS 105 Micro Entity Accounts on the basis of the information you provide and the applicable reporting requirements, and to help you understand what each filing is for. We do not suggest that any set of accounts is automatically accepted or approved by any body, and the directors remain responsible for the accounts and for the filings made in the company’s name.

ICAEW

ACCA

AAT

Need Help With FRS 105 Micro Entity Accounts in Cleethorpes?

If you are a director of a small company in Cleethorpes and want to understand whether the micro-entities regime is right for you, get in touch to talk through your FRS 105 Micro Entity Accounts requirements. A short conversation about your company’s turnover, balance sheet position, employee numbers and how the business is structured will help establish whether FRS 105 is likely to be available to you and what preparation work is involved. Bring along your records for the period — bookkeeping or software exports, bank statements, details of any assets, loans or director’s transactions, and your payroll information if you employ staff — so your circumstances can be assessed properly. We can then explain the options, outline what is needed to prepare your FRS 105 financial statements, and set out clear, transparent pricing for the work involved.

─── 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 that applies to companies using the micro-entities regime. It is the most simplified accounting framework available to limited companies, allowing a qualifying micro-entity to prepare a short balance sheet, a profit and loss account and only minimal notes. The idea is that the smallest businesses should not have to produce disclosures designed for much larger entities, while still giving a fair and consistent picture of the company's financial position.

Who can use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the micro-entities regime and then 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. Other rules and exclusions can also apply — for example, certain types of company are not eligible for the micro-entities regime regardless of size — so meeting the size conditions alone does not automatically mean FRS 105 is available.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies may choose to apply it, in which case FRS 105 applies to the accounts, or it may instead prepare accounts under a fuller framework such as FRS 102 Section 1A. Some directors prefer FRS 102 because it provides more information to lenders, investors or anyone reviewing the business. The right choice depends on who uses the accounts and what the company needs from them.

What is the difference between FRS 105 and FRS 102?

The main difference is the level of detail. FRS 105 is designed for qualifying micro-entities and requires far fewer disclosures, with simpler measurement requirements in a number of areas. FRS 102 Section 1A is aimed at small companies that are not micro-entities, or micro-entities that have chosen not to use the micro-entities regime. FRS 102 accounts generally contain a fuller set of notes and may apply different treatments to items such as financial instruments, deferred tax and certain revaluations. In short, FRS 105 is the leaner framework, and FRS 102 offers more detail.

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

Yes. Where a company prepares FRS 105 Micro Entity Accounts for its statutory reporting, those accounts need to be filed with Companies House in line with the company's filing obligations. It is worth remembering that filing accounts with Companies House is a separate exercise from submitting a Corporation Tax Return (CT600) to HMRC, and separate again from filing a Confirmation Statement. Each has its own purpose, format and requirements, even though the underlying financial information overlaps.

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

Yes, they are separate requirements. FRS 105 deals with how the company's financial statements are prepared and presented under the micro-entities regime. A CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in the accounts usually provide the starting point for the tax return, but adjustments are often needed, so the two documents are not identical even when they cover the same period.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but it still has to qualify for the micro-entities regime and choose to apply it. A first accounting period may be shorter or longer than twelve months, and that can affect how the size conditions are assessed, so it is worth checking the position before preparing the first set of accounts. A company in its first period will also need to think about whether the framework chosen remains appropriate as it grows.

What information is needed to prepare FRS 105 Micro Entity Accounts?

As a starting point, we would normally need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase records, details of any assets bought or sold, information about loans and director's transactions, and payroll details if you employ staff. It also helps to know about anything unusual that happened during the year, such as a one-off payment, a change in how the business operates, or a new source of income. The clearer the records, the more straightforward the preparation process tends to be.