─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Keighley

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework for companies that qualify for, and choose to apply, the UK micro-entities regime. For many small limited companies in Keighley, that means a simpler set of financial statements, with fewer accounting policy choices and far less disclosure than a full small company set prepared under FRS 102 Section 1A. Whether the regime is right for you depends on your turnover, balance sheet total and employee numbers, along with other eligibility rules and exclusions that can apply, so it is worth checking your position properly rather than assuming you qualify. Professional preparation of FRS 105 Micro Entity Accounts involves building the statements from your bookkeeping records, applying the recognition and measurement rules that the framework allows, and presenting the results in a format that reflects your company’s circumstances. If you would rather not wrestle with the technical detail yourself, we can prepare your FRS 105 accounts for you, talk you through what the figures mean, and keep the process separate and clear from your other filing obligations.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 300 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
      Posted on Google  
   
   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
      Posted on Google  
   
   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: What Micro-Entity Accounts Mean for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it sets out how a qualifying company keeps its annual accounts simple: assets and liabilities are generally measured at historical cost, there is little scope for the fair value adjustments and revaluations seen under other frameworks, and the disclosure notes are pared back to a minimum. It sits alongside the micro-entities regime, which is an available accounting regime for qualifying companies rather than something every small company must use. If a company qualifies and its directors decide to apply that regime, FRS 105 is the standard that applies to the financial statements. That gives directors of small companies in Keighley a genuine choice: a leaner set of accounts that is quicker and less costly to prepare, or the wider small company framework where the business needs it. The trade-off is disclosure and flexibility, so the decision should be made with a clear understanding of eligibility and what the shareholders and lenders expect to see.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then decide to apply it. Qualification is assessed against size conditions, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the 3 applicable 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. Passing two out of three of those tests is the starting point, not the whole story. The regime is subject to further rules and exclusions that can prevent a company from using it even where the numbers look small enough — certain financial services and investment undertakings, for instance, are outside the micro-entities regime. A company that qualifies is also free to choose a different framework if that suits its shareholders, lenders or group better. For a Keighley-based limited company, the sensible approach is to review the figures for the specific period, check the exclusions that may apply, and confirm which basis the directors want to adopt 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 Micro Entity Accounts

FRS 105 Micro Entity Accounts should be built on your company’s own financial records — the bookkeeping, bank transactions, sales and purchase documentation, payroll information and asset details that sit behind the numbers. From those records, the financial statements are prepared in line with the micro-entity framework, including the balance sheet, the profit and loss account and the limited notes that the standard requires, together with the directors’ statement on the balance sheet that the accounts are prepared under the micro-entities regime. It is important to keep two things distinct. Preparing and filing the annual accounts is one obligation, generally dealt with at Companies House, while the Corporation Tax Return (CT600) is a separate submission made to HMRC, and the taxable profit it reports may differ from the accounting profit shown in the FRS 105 accounts after adjustments such as capital allowances or disallowable expenses. Working with an experienced preparer helps ensure the accounts are consistent, internally coherent and prepared on the correct basis for your circumstances, and that you understand what has been filed and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Keighley

If your company may fall within the micro-entities regime, or you are simply unsure whether FRS 105 is the right basis for your next set of accounts, get in touch and let’s work through it together. A short conversation about your turnover, balance sheet position, employee numbers and how the company is structured will help establish whether the regime is likely to apply and how your FRS 105 Micro Entity Accounts should be approached. To give you a useful answer rather than a general one, it helps to have your latest trial balance or bookkeeping records to hand, along with any previous accounts, details of significant purchases or borrowings, and an idea of what the shareholders or lenders expect to see. There is no obligation, and no pressure — just clear, practical guidance on the options available to your business.

─── 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 deliberately simpler than the standards used by larger companies: assets and liabilities are generally measured at historical cost, there is very little scope for fair value accounting, and the number of disclosures required is kept to a minimum. The aim is to reduce the cost and complexity of preparing annual accounts for the smallest companies while still producing a true and fair view of the business's position.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. The size conditions are based on turnover, balance sheet total and average employee numbers, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the 3 applicable 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 eligibility rules and exclusions can apply, so meeting the size conditions alone does not automatically mean the regime is available to a particular company.

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 qualifies may still choose to prepare its accounts under the small company framework instead, and some do so because they want greater flexibility in accounting treatments or a fuller set of disclosures for lenders, investors or group purposes. FRS 105 applies when the micro-entities regime is the regime that has been chosen for that set of accounts.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider UK and Ireland financial reporting standard, and its small company provisions (often referred to as Section 1A) are used by many small companies that sit above the micro-entity threshold or that prefer a fuller framework. FRS 105 is narrower and simpler: fewer measurement options are permitted, and significantly less information has to be disclosed in the notes. In practice, FRS 102 gives more accounting flexibility and more disclosure, while FRS 105 gives a shorter, more streamlined set of financial statements for qualifying micro-entities.

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

A company with a Companies House filing obligation must file its annual accounts, and where the micro-entities regime has been applied, those FRS 105 Micro Entity Accounts are the accounts that get filed. Filing the accounts and preparing them are different steps: the accounts are drawn up from the company's records and approved by the directors before submission. Filing accounts with Companies House is not the same thing as submitting a tax return, and it does not amount to any form of approval or endorsement of the figures by the registrar.

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

Yes, they are entirely separate. The FRS 105 accounts are the company's financial statements, prepared under the micro-entity framework. The CT600 is the Corporation Tax Return, which is submitted to HMRC to report the company's taxable profits and calculate the tax due. The two are connected in the sense that the accounts are usually the starting point for the tax computation, but adjustments — for example for capital allowances or expenses that are not allowable for tax — mean the taxable figure can differ from the accounting profit.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime and therefore FRS 105, provided it meets the eligibility conditions and the directors choose that regime. New companies sometimes need to look carefully at their first accounting period, because the length of that period and the timing of trading can affect how the size conditions are assessed. It is worth taking advice early rather than assuming the regime will apply, especially if the company expects rapid growth or has a parent company or group relationship.

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

In most cases the preparer will need a full trial balance or a reconciled set of bookkeeping records, bank and credit card statements, details of sales and purchase invoices, payroll and director pay information, and records of significant asset purchases, disposals and loans. It also helps to have the previous year's accounts, any Corporation Tax computations, and details of share capital and dividends. The cleaner and more complete the records, the more straightforward it is to prepare accounts that reflect what actually happened in the business during the period.