─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Knowsley: Simple, Accurate Financial Reporting

FRS 105 Micro Entity Accounts in Knowsley are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 sits alongside FRS 102 but offers a simpler basis of preparation for eligible micro-entities, with reduced disclosure requirements and a sharper focus on the figures that matter most to a small company and the people who read its accounts. Professional preparation helps ensure the accounts are built from the company’s actual financial records, are presented consistently with the micro-entity requirements, and are ready in good time for the relevant filing obligations. It also gives directors a clearer view of the numbers before they approve and sign the balance sheet. It is important to remember that not every small company qualifies for the micro-entities regime, and meeting a size test on its own does not automatically make FRS 105 the right or available choice, so the applicable rules and exclusions need to be considered for each company’s own circumstances.

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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 300 reviews 
    
 
 
 
   
 
 
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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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 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 .
  
 
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   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.
  
 
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 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.
  
 
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   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.
  
 
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─── FRS 105 EXPLAINED

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

FRS 105 is one of the UK financial reporting standards, and it exists specifically for micro-entities. In simple terms, it is the accounting framework a company uses when it qualifies for the micro-entities regime and chooses to apply that regime when preparing its financial statements. The attraction is simplicity: compared with larger reporting frameworks, FRS 105 allows a more straightforward balance sheet and profit and loss account, with far fewer notes and disclosures. That can make the accounts easier to prepare, easier for a director to review and understand, and easier to read overall. It is worth being precise about the choice involved. Qualifying for the micro-entities regime does not force a company to use it — the directors can decide, and FRS 105 applies when that regime is the one chosen. If a company does not qualify, or decides not to use the micro-entities regime, a different framework such as FRS 102 will usually be relevant instead. Because the decision affects how the financial statements are put together, it is sensible to confirm the position early in the accounting process rather than at the point of filing.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. Qualification is based on the size conditions set for the regime. 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. Meeting those conditions is a starting point, not the whole picture. The regime is subject to further rules and exclusions, including restrictions on the types of company that may apply it, so a company that fits the size profile may still not be eligible. Eligibility can also change as a business grows or contracts, which means it is worth reviewing the position each year rather than assuming last year’s conclusion still holds. Where a company qualifies and the directors decide the micro-entities regime is appropriate, FRS 105 applies. Where it does not qualify, or the regime is not chosen, a different framework will usually be needed for the financial statements.

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.

Accurate, Professionally Prepared FRS 105 Micro Entity Accounts

Preparing FRS 105 Micro Entity Accounts well starts with good records. Bank statements, sales and purchase information, expense details, asset and liability records, and any relevant loan or hire purchase agreements all feed into the financial statements, and the accounts should reflect the company’s real position rather than an estimate. Working with an experienced preparer means those records are reviewed, the figures are brought together into a balance sheet and profit and loss account prepared on the micro-entity basis, and the resulting financial statements are set out clearly for the directors to consider and approve. It is also helpful to keep the different obligations separate. Preparing and filing financial statements with Companies House is one task; a Corporation Tax Return (CT600) is a separate submission made to HMRC, covering the company’s tax position rather than its statutory accounts. Meeting one obligation does not automatically deal with the other, and they can follow different rules and timescales. A well-organised approach keeps the accounts, the tax return and any other filings aligned, so nothing is overlooked and the directors know exactly what has been submitted and why.

ICAEW

ACCA

AAT

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

If you are unsure whether the micro-entities regime applies to your company, or you simply want your FRS 105 Micro Entity Accounts prepared properly and without the last-minute scramble, get in touch. Tell us about your company, its accounting period, what it does, and how its records are kept, and share anything you already have — trial balance, bank information, bookkeeping software access, or details of assets and liabilities. With that information, we can assess your circumstances, explain the framework that appears most appropriate, and set out how the accounts will be prepared and what is needed from you. Clear, transparent pricing and a straightforward process mean you know where you stand from the outset, and you can ask questions at any stage rather than waiting until the accounts are due.

─── 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 provides a simplified accounting framework that qualifying companies can use when they choose to apply the micro-entities regime. Compared with other standards, it allows a shorter, more streamlined set of financial statements with far fewer disclosure notes, which suits the size and complexity of a genuinely small company.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification depends on the applicable size conditions and on the wider rules and exclusions that apply to the regime. A company that qualifies is not obliged to use FRS 105 — the micro-entities regime is an available option, and FRS 105 applies when that option is taken.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is available to qualifying companies rather than imposed on them. Directors of a qualifying company can decide whether to prepare accounts under FRS 105 or under a different framework such as FRS 102. The choice affects the level of disclosure and the presentation of the financial statements, so it is worth considering deliberately rather than by default.

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, 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 also apply, so meeting these size conditions alone does not automatically confirm that a company qualifies or that FRS 105 is the right framework for it.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entity standard, offering simpler financial statements and much lighter disclosure. FRS 102 is a fuller framework used by a wider range of companies, including small companies that do not use, or do not qualify for, the micro-entities regime. A company that does not qualify for the micro-entities regime would ordinarily look to a framework such as FRS 102 instead.

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

Yes. Where a company prepares accounts under FRS 105, those financial statements form the company's statutory accounts and are normally filed with Companies House, in line with the filing requirements that apply to the company. Filing the accounts is a separate exercise from submitting a Corporation Tax Return, and it is separate again from a Confirmation Statement. Getting the accounts finalised and approved in good time makes the filing process much smoother.

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

Yes, they are two distinct filings. FRS 105 accounts are financial statements prepared under the micro-entity framework and filed as the company's statutory accounts. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position for the period. The figures are related, because the accounts usually inform the tax return, but they are separate documents with separate purposes and separate submission routes.

What information is needed to prepare FRS 105 accounts?

Typically you will need the company's bank statements and reconciliations, sales and purchase records, details of expenses, payroll or director remuneration information where relevant, a list of assets and liabilities, and any loan, lease or hire purchase agreements. If bookkeeping software is used, access or an exported trial balance and nominal ledger reports are helpful. Having complete records from the start means the accounts can be prepared accurately and reviewed by the directors without delays.

Can a new limited company use FRS 105?

A newly incorporated company is not automatically a micro-entity simply because it is new. It needs to meet the applicable size conditions and the other rules governing the micro-entities regime, and the directors then need to choose to apply it. In the first period, there may be additional considerations, so it is worth confirming the position rather than assuming FRS 105 will apply.

Are the rules for filing micro-entity accounts changing?

The way small and micro-entity accounts are filed with Companies House is changing, with a move towards filing through software and changes to the filleted and abridged accounts options. Because requirements are being introduced in stages, it is sensible to check the current Companies House guidance for your accounting period, or ask your preparer, rather than relying on how filings were made in previous years.