─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Darwen

If your company qualifies as a micro-entity and you choose to apply the micro-entities regime, your statutory accounts must be prepared under FRS 105 Micro Entity Accounts rather than the fuller small-company rules. FRS 105 is the UK financial reporting standard written specifically for micro-entities, and it produces simplified financial statements with a reduced measurement and disclosure burden. That simplicity is helpful, but the rules still need to be applied correctly to your own figures — what counts as turnover, how the balance sheet total is measured, and which disclosures are required are all matters of judgement. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your financial statements are built accurately from your bookkeeping records, presented in the right format, and supported by the notes the framework expects. Whether you trade as a sole director company in Darwen, run a small family business, or operate as a contractor or consultant, the accounts should reflect your actual circumstances and sit sensibly alongside your other filing obligations. Eligibility is not automatic, so the first step is always to confirm that the micro-entities regime is available to your company and appropriate for the way it operates.

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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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 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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 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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 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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   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 for Qualifying Micro-Entities

FRS 105 is the financial reporting standard that applies to UK companies using the micro-entities regime. In plain terms, it is the simplest set of statutory accounts rules available under UK GAAP, designed for the smallest companies that meet the micro-entity size conditions. When a company qualifies and its directors decide to use the micro-entities regime, FRS 105 Micro Entity Accounts set out how the numbers are measured and what has to be shown. The framework relies on a straightforward historical cost approach, so there is no fair value accounting, no revaluations and no deferred tax, and the disclosure notes are kept to a minimum. What you get is a short, clear set of financial statements — typically a simplified balance sheet with limited notes — that still meets the legal requirement to prepare annual accounts. It is worth being precise about one thing: the micro-entities regime is an option, not an obligation. A qualifying company may instead prepare accounts under the small companies regime, and FRS 105 only applies where the micro-entities regime has been chosen. Understanding that distinction helps directors in Darwen make a sensible, informed decision rather than assuming FRS 105 Micro Entity Accounts are the only route open to them.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide 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 are the starting point, not the whole test. The relevant rules also exclude certain types of company and particular circumstances from the micro-entities regime, and there are additional conditions around how the company reports and what it is required to prepare. In practice, that means two companies of similar size can reach different conclusions about whether FRS 105 Micro Entity Accounts are available to them. A company in Darwen that comfortably meets the size conditions may still need to look at other factors before the regime is confirmed, and a company close to the limits should consider how its figures are measured. Eligibility should also be revisited each year, because turnover, balance sheet totals and headcount move around over time. Where the regime is available and chosen, FRS 105 applies; where it is not, another UK GAAP framework will be appropriate.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records — bookkeeping, bank transactions, sales and purchase information, payroll data and details of any assets or loans. From there, the figures are adjusted and presented in line with the micro-entity framework, and the resulting financial statements are checked for internal consistency before they are finalised. Because FRS 105 is deliberately short, small errors carry more weight; a misclassified item or an omission can distort an otherwise simple balance sheet. Working with an experienced preparer helps keep the reporting accurate, the presentation consistent with previous periods, and the disclosures limited to what FRS 105 actually requires. It is important to separate the different jobs involved. Preparing the financial statements, filing accounts with Companies House, and dealing with Corporation Tax are distinct tasks, even though they draw on the same records. The accounts are a statutory reporting document; a Corporation Tax Return (CT600) is a separate submission made to HMRC, and the profit shown in the accounts is not always the same as the figure on which tax is calculated. Clear, transparent pricing and a straightforward process mean you know what is being prepared and why, without any suggestion that filing guarantees acceptance or that any particular outcome is assured.

ICAEW

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Get Help With Your FRS 105 Micro Entity Accounts in Darwen

If you would like your FRS 105 Micro Entity Accounts prepared accurately and without the guesswork, get in touch to talk through your requirements. It helps to have a few things ready: details of your company’s trading activity, your bookkeeping or accounting records for the period, bank and finance information, and any notes on significant purchases, loans or one-off items. We can then look at whether the micro-entities regime is available to your company, confirm how your figures should be presented under FRS 105, and explain how the accounts fit alongside your other obligations, such as Corporation Tax and confirmation statement filing. Whether you are reviewing your current reporting approach or preparing accounts for the first time, a short conversation is usually enough to establish what is needed and what the next steps look like.

─── 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 qualifying companies that choose the micro-entities regime measure and present their annual financial statements, using a simplified historical cost basis with a much shorter set of disclosure notes than other UK GAAP frameworks. It is the framework behind what are commonly called FRS 105 Micro Entity Accounts.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and then choose to apply the micro-entities regime. Qualifying is not the same as being required to use it — a qualifying company may instead prepare accounts under the small companies regime. Certain types of entity, and companies in particular circumstances, are excluded from the micro-entities regime, so eligibility should be checked against the current rules rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that meets the micro-entity size conditions can decide to apply it, in which case FRS 105 governs the accounts, or it can prepare accounts under another appropriate framework such as the small companies regime. Directors should consider which option best reflects the company's circumstances and reporting needs.

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 these 3 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. Meeting the size conditions is only part of the picture — other eligibility rules and exclusions also apply, so the criteria alone do not guarantee that the micro-entities regime is available.

What is the difference between FRS 105 and FRS 102?

Both sit within UK GAAP, but they are aimed at different sizes of company. FRS 102 (including the small entities provisions in Section 1A) allows options such as revaluation, fair value measurement and deferred tax, and it requires more extensive disclosures. FRS 105 is narrower: it works on a historical cost basis, does not permit those options, and requires far fewer notes, producing a shorter and simpler set of financial statements.

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

Where a company prepares its annual accounts under the micro-entity provisions, those accounts generally need to be filed at Companies House, although the format used for filing can differ from the full accounts prepared for the members. Filing requirements can vary depending on the company and the period in question, so it is worth confirming the current position for your own filing rather than relying on general assumptions.

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

Yes. FRS 105 Micro Entity Accounts are statutory financial statements prepared under the micro-entities regime. A Corporation Tax Return (CT600) is a separate submission to HMRC that calculates the tax due. The two documents are connected because both draw on the same records, but taxable profit is not automatically the same as the profit shown in the accounts — adjustments such as depreciation and capital allowances can create a difference.

Can a new limited company use FRS 105?

It is possible, provided the company qualifies as a micro-entity for the period concerned and the directors choose to apply the micro-entities regime. A newly incorporated company still has to assess the size conditions, and a first accounting period that covers more than twelve months needs particular care because turnover and employee numbers are measured on the appropriate basis. Eligibility should be reviewed at each set of accounts rather than decided once and forgotten.