─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Leyburn

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK companies that choose to use the micro-entities regime. If your company is based in Leyburn and meets the relevant size and eligibility conditions, FRS 105 can offer a simplified basis for preparing your annual accounts, with a shorter balance sheet, limited disclosures and a format designed for smaller businesses. Professional preparation helps ensure the accounts reflect your actual financial records, are presented in line with the framework as it applies to your circumstances, and are consistent with the information you report elsewhere. Eligibility is not automatic, and the rules include conditions and exclusions, so it is worth reviewing your position before deciding whether FRS 105 is the right framework for your company.

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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 
    
 
 
 
   
 
 
       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.
  
 
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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
  
 
      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.
  
 
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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 .
  
 
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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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   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.
  
 
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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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   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: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard that sits behind the micro-entities regime. In simple terms, it is a set of accounting rules designed for the smallest companies, allowing them to prepare simpler financial statements than those required under fuller frameworks such as FRS 102. The regime is optional: a company that qualifies as a micro-entity can choose to apply it, and if it does, FRS 105 is the standard used to prepare those accounts. A typical set of FRS 105 financial statements includes a balance sheet, a profit and loss account and a small number of supporting notes, with simpler measurement rules and fewer disclosures. Because the framework is deliberately streamlined, the figures still need to be accurate and supported by your records — the simplification is in the reporting, not the bookkeeping. For companies in Leyburn and across the UK, FRS 105 Micro Entity Accounts can be a practical fit where the company qualifies and the directors are comfortable with the reduced level of detail that the framework provides.

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 thresholds are a starting point rather than a complete test. Other eligibility rules and exclusions apply, and some companies are prevented from using the regime regardless of their size, so meeting the size conditions alone does not guarantee that FRS 105 is available. It is also worth remembering that the regime is a choice: even a qualifying company can prepare accounts under a fuller framework if that suits its circumstances better. If you are unsure where your Leyburn company stands, reviewing your turnover, balance sheet position and headcount against the current conditions, alongside any exclusions that may apply, is the practical first step.

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 should be built directly from your company’s financial records — bank statements, sales and purchase information, payroll data, asset details and any other supporting documents — and then presented in accordance with the micro-entities framework and the applicable reporting requirements. Professional preparation means the figures are checked, the disclosure requirements are considered, and the accounts are produced in a format suitable for the company’s circumstances rather than a generic template. It is important to keep two distinct obligations in view: the preparation of the financial statements and their filing at Companies House, and the separate Corporation Tax position reported to HMRC, usually through a CT600. Preparing FRS 105 accounts does not by itself settle your Corporation Tax, and submitting a CT600 does not replace your accounts filing. Working with an experienced preparer helps you keep both strands organised, understand what each document is for, and approach your filing responsibilities with a clear picture of what has been prepared and why.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Leyburn

If you run a small company in Leyburn and want to know whether FRS 105 Micro Entity Accounts suit your circumstances, get in touch to talk it through. Share some background on your company — its trading activity, share of turnover and balance sheet position, employee numbers, and the records you already hold — and we can assess how the micro-entities regime applies to you and what is needed to prepare your accounts properly. Whether you are preparing accounts for the first time, moving from another framework, or simply want your existing figures reviewed, a short conversation is usually the quickest way to establish the right approach. Clear, transparent pricing and straightforward communication are part of how we work, so you know what is involved before anything begins.

─── 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 used by companies that qualify for, and choose to apply, the micro-entities regime. It sets out a simplified basis for preparing annual financial statements, including a balance sheet, a profit and loss account and a limited set of notes. It is designed for the smallest companies, so it involves fewer disclosures and simpler measurement rules than fuller frameworks such as FRS 102.

Who can use FRS 105?

FRS 105 is available to companies that fall within the UK definition of a micro-entity and that choose to apply the micro-entities regime. Size is assessed against the applicable conditions, but other rules and exclusions also apply — for example, certain company types and activities are not eligible. Meeting the size conditions on their own does not automatically guarantee eligibility, so it is sensible to confirm your position before adopting the framework.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option rather than a requirement. A qualifying company can choose to apply it, and FRS 105 then applies to those accounts. Some qualifying companies instead prepare accounts under FRS 102, often because they want fuller disclosure, have a group or investor requirement, or simply prefer a more detailed presentation. The choice is made by the company, within the rules.

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. These conditions sit alongside other eligibility rules and exclusions, so satisfying the size tests is one part of the picture rather than the whole answer.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in depth. FRS 105 is the micro-entities standard, with a simplified format and minimal disclosures. FRS 102 is a fuller framework used by a much wider range of companies, requiring more detailed accounting treatments and significantly more disclosure. A company that qualifies as a micro-entity may choose either route, depending on its circumstances and who needs to see the accounts.

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

Where a company prepares annual accounts, those accounts normally need to be filed at Companies House in line with its obligations. When the micro-entities regime is used, the accounts filed are micro-entity accounts prepared under FRS 105. The filing itself is a separate administrative step from preparing the accounts, and it is distinct from any Corporation Tax submission made to HMRC.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework and generally filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The two documents serve different purposes and go to different bodies, even though the figures used should be consistent.

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

Typically you would provide bank statements and reconciliations, sales and purchase records, payroll information, details of any assets owned by the company, loan or director's account balances, and any previous year's accounts. It also helps to confirm the company's accounting period, its activities and whether anything unusual happened during the year. With that information, the accounts can be prepared, checked and presented in the FRS 105 format.