─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Mirfield

FRS 105 Micro Entity Accounts in Mirfield are prepared under the financial reporting framework that applies to companies which qualify for the UK micro-entities regime and choose to use it. For a small company, the appeal is straightforward: simpler financial statements, fewer disclosures and a reporting format that reflects the day-to-day reality of running a compact business. Professional preparation helps you work from your own financial records and present the figures in line with the applicable requirements, rather than relying on a template that may not suit your circumstances. It also gives you a clearer view of your balance sheet, profit and loss position and the information that flows into your annual accounts. Qualifying for the micro-entities regime is not automatic, so the first step is always to assess your company’s position against the relevant rules before FRS 105 accounts are prepared.

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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.
  
 
      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.
  
 
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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.
  
 
      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 It Means for UK Micro-Entities

FRS 105 is the financial reporting standard that applies when a qualifying company chooses to use the UK micro-entities regime for its annual accounts. In plain terms, it is a simplified accounting framework: the accounts focus on the essentials, with a shorter balance sheet, a straightforward profit and loss account and far fewer notes than larger companies produce. It also restricts some of the more complex accounting treatments used under other standards, which keeps the numbers closer to the underlying records. Choosing the regime is a decision, not an automatic outcome — a company must qualify under the relevant rules, and its directors need to be comfortable that FRS 105 is appropriate for its circumstances. When the micro-entities regime is applied, FRS 105 governs how the financial statements are put together and what they are required to show.

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 to their annual accounts. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 those size tests is not the whole picture, because other eligibility rules and exclusions can also apply — for example, in relation to the type of entity or its position within a group. Qualifying and choosing the regime are two separate steps: even a company that qualifies may prefer a different framework. If you are unsure where your Mirfield company stands, the sensible approach is to review your figures and circumstances before deciding.

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 means starting from accurate records and applying the framework consistently. We work through your bookkeeping, bank transactions, sales and purchase records, payroll information, asset details and any loans or director balances to build financial statements that reflect what has actually happened in the business. The accounts themselves are then filed with Companies House as part of your company’s annual filing obligations, using the disclosure format permitted for micro-entity accounts. Corporation Tax is handled separately: a CT600 is submitted to HMRC and is not the same thing as your statutory accounts, even though the figures are related. We can support both, making clear which document goes where and what each one is for. Preparation is based on the information you provide and the reporting requirements that apply to your company — we do not claim guaranteed acceptance or approval by any authority, because those decisions rest elsewhere.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Mirfield

If you would like straightforward support with your FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to know your accounting period, what you do, roughly how you trade, whether you have previously filed micro-entity accounts and how your records are currently kept. From there we can look at whether the micro-entities regime appears to suit your circumstances, explain what information we need to prepare the financial statements, and clarify how the accounts filing sits alongside your separate Corporation Tax responsibilities. There is no obligation and no jargon — just a useful conversation about where you stand and what the next step looks like for your Mirfield-based company.

─── 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 companies that qualify for, and choose to apply, the micro-entities regime. It sets out how the financial statements are prepared, including the format of the balance sheet and profit and loss account and the limited notes that are required. It is deliberately simpler than the standards used by larger companies, on the basis that micro-entity accounts are intended to give a concise, understandable picture of a very small business.

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 qualifying conditions can choose to apply it, but it may instead prepare accounts under another framework, such as FRS 102 Section 1A. The directors should consider which framework gives an appropriate view of the company, and whether the reduced disclosure of FRS 105 is suitable for the business and for anyone who relies on the accounts.

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. Those conditions sit alongside other eligibility rules and exclusions, so meeting the size tests alone does not automatically mean a company qualifies. Eligibility should always be checked against the rules that apply to your specific company and accounting period.

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-entities standard and is the most streamlined option, with minimal disclosure and restrictions on treatments such as revaluation and fair value accounting. FRS 102 (including Section 1A for small companies) offers more flexibility in how certain items are measured, but in return requires more notes and disclosures. The right choice depends on eligibility, the company's transactions and who will be reading the accounts.

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

Yes. Preparing accounts under FRS 105 does not remove the requirement to file annual accounts with Companies House — it determines the framework and format used. In practice, this often means filing a simpler balance sheet with limited notes in line with the micro-entity filing options available at the time. The accounts filing is a separate exercise from your Corporation Tax obligations, and both need to be dealt with for the relevant period.

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

Yes, they are two distinct filings with two different recipients. FRS 105 Micro Entity Accounts are the statutory financial statements, which are filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which starts from your accounting profit and then applies tax adjustments such as disallowable expenses and capital allowances. The figures are connected, but the documents, the rules and the submission routes are not the same, so it is worth keeping them clearly separated in your records.

Can a new limited company use FRS 105?

A newly incorporated company may well be able to use FRS 105 in its first accounting period, but this should not be assumed. New companies still have to satisfy the qualifying conditions, and the position can be affected by the nature of the business, its group structure and any of the exclusions that apply to the micro-entities regime. It is also worth thinking about whether a very simple framework will give the directors and any lenders or investors the information they need, now and as the company grows.

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

Typically you would provide your bookkeeping or accounting records for the period, bank and credit card statements, sales invoices and purchase receipts, payroll information, details of any equipment or other assets bought or sold, stock or work in progress figures if relevant, and details of loans, director balances and any other liabilities. Copies of the previous year's accounts are useful for comparison. Supplying complete records early makes the preparation process smoother and reduces the number of questions that come back to you later.

What changes are coming to micro-entity accounts filing?

Companies House has been introducing reforms to the way accounts are filed, including a move towards filing in a structured digital format and changes to the simplified filing options that have historically been available to smaller companies. Because these changes are being phased in and the detail can shift, the practical effect on a micro-entity can depend on the period and the filing route being used. It is sensible to confirm the current position before your accounts are due, rather than assuming last year's approach still applies.