─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lytham

If your company qualifies for the UK micro-entities regime and you choose to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your statutory financial statements. FRS 105 is a simplified regime, but it is still a formal accounting framework with its own recognition, measurement and disclosure requirements, so the figures and the accompanying notes need to be handled carefully. Our work with FRS 105 Micro Entity Accounts in Lytham is built around preparing accounts that reflect your company’s own circumstances — its transactions, its assets and liabilities, and the framework it has chosen to apply. Qualifying is not automatic, and eligibility depends on the company meeting the applicable size conditions and any other relevant rules, so we begin by reviewing your position before any preparation work starts. From there, the accounts can be prepared from your financial records in a form suitable for filing with Companies House, with the reporting framework applied consistently and explained clearly to you.

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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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   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 written specifically for companies that qualify for the micro-entities regime. In simple terms, the micro-entities regime is a set of accounting rules available to the smallest companies, and FRS 105 is the standard that applies when a qualifying company chooses to use that regime. It sits alongside FRS 102, which is the framework used more widely, but FRS 105 is deliberately leaner: it takes a simpler approach to measuring items in the accounts and asks for a reduced level of disclosure in the notes. That means less time spent on technical accounting judgements and a set of financial statements that is easier for a small company director to follow. Two points matter here. First, choosing the micro-entities regime is a decision — a company that qualifies is not obliged to use it. Second, FRS 105 applies because the regime has been chosen, not simply because a company is small. For directors in Lytham, understanding that distinction is often the difference between filing accounts that fit the company and filing accounts that do not.

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. Meeting two of those three conditions is the starting point rather than the finish line. There are additional eligibility rules and a number of exclusions, and some types of company cannot use the micro-entities regime at all, whatever their size. It is also important to remember that qualifying does not compel a company to use FRS 105 — the regime is chosen, and FRS 105 is the standard that applies once that choice has been made. If you run a company in Lytham and want to know where you stand, reviewing your figures against the current criteria and the relevant rules 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 Micro Entity Accounts

Preparing FRS 105 Micro Entity Accounts well starts with accurate record keeping and a clear understanding of how the framework applies to your company. We work from your bookkeeping, bank records, invoices, expense documentation and asset information to build a set of financial statements that reflects the trading activity of the business, then apply the recognition and measurement requirements of FRS 105 and prepare the disclosures the framework calls for. It is worth being precise about what is involved: preparing financial statements for filing with Companies House is one piece of work, and meeting your Corporation Tax obligations — including submitting a CT600 to HMRC — is a separate matter with its own rules and deadlines. The same underlying records often feed both, but they are not the same exercise, and treating them as interchangeable can lead to gaps. Our role is to prepare accounts based on the information you provide and the reporting requirements that apply to your company, and to explain the basis on which they have been prepared so you can review them with confidence before they are filed.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts, the best place to start is a conversation. Tell us about your company — what it does, how long it has been trading, who your shareholders and directors are, and whether you are already using the micro-entities regime or considering it. If you can share your financial records, trial balance or previous year’s accounts, along with details of any significant transactions during the period, we will be in a much better position to assess whether FRS 105 is appropriate for your circumstances and what preparation work is needed. We will explain the process in plain English, set out clearly what we need from you and what we will do, and answer any questions about how the accounts, your Companies House filing and your Corporation Tax position fit together. Get in touch to discuss your requirements and take the next step.

─── 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 sets out how qualifying micro-entity companies measure and present the items in their financial statements and what they need to disclose in the notes. It is a simplified framework compared with FRS 102, with fewer disclosure requirements and a more straightforward approach to measurement, which is why it is popular with very small companies that want accounts which are proportionate to the size of the business.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not the same as being automatically eligible — a company needs to satisfy the applicable size conditions and must not fall within any of the rules or exclusions that prevent the regime being used, such as certain regulated or ineligible entity types. Because eligibility depends on the company's specific circumstances, it is worth reviewing your position against the criteria for the accounting period in question rather than assuming the regime applies.

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 for it may choose to apply it and prepare FRS 105 accounts, or it may instead prepare accounts under a different framework such as FRS 102. The choice is typically influenced by the level of disclosure the directors want, the needs of lenders or other users of the accounts, and the group structure the company sits within. FRS 105 applies when the company has chosen to use the micro-entities regime.

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 the following 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 during the period. Meeting the size conditions is not the whole test, however — other eligibility rules and exclusions can apply, and some companies are not permitted to use the micro-entities regime regardless of their size. We assess eligibility based on your actual figures and circumstances rather than the thresholds alone.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider UK financial reporting standard used by a broad range of companies, and it includes more detailed recognition and measurement requirements along with a fuller set of disclosures. FRS 105 is the micro-entities standard: it is deliberately simpler and shorter, with reduced disclosure and a more streamlined approach to measuring items in the accounts. In practice, FRS 105 produces a shorter set of financial statements that is easier and quicker to prepare, which suits many small companies — but it also means less information is presented to readers such as banks or investors. The right choice depends on what the company needs from its accounts.

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

Yes. Limited companies are generally required to prepare annual accounts and deliver them to Companies House, and where a company has prepared FRS 105 Micro Entity Accounts, those are the accounts that are filed. Filing accounts with Companies House is a separate exercise from dealing with HMRC, and it is separate again from filing a Confirmation Statement. The accounts need to be delivered within the statutory filing deadline that applies to your company, so it is worth planning the preparation of the figures well ahead of that date rather than working backwards from it.

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

Yes, they are two distinct filings. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities reporting framework and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which reports the company's taxable profits and is calculated from the underlying records and the tax adjustments that apply. The accounts and the tax return are often prepared from the same bookkeeping and financial information, but the figures can differ because accounting treatment and tax treatment are not always the same. Both need to be handled, and both have their own deadlines and requirements.

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

We usually need your bookkeeping records or a trial balance for the period, bank and credit card statements, sales and purchase invoices, details of any assets purchased or disposed of, information on loans and other liabilities, and the previous year's accounts if you have them. It also helps to know about any significant one-off transactions, changes to the company's share structure or directors, and whether the company is part of a group or has any unusual activities. The more complete the records, the more straightforward the preparation — and the easier it is to confirm whether FRS 105 remains the right framework for your company.