─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Oldham

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. In Oldham, many small, owner-managed limited companies look at FRS 105 because it offers a simpler and shorter set of financial statements than the fuller standards available to larger businesses. FRS 105 accounts focus on the essentials: a straightforward balance sheet, a simple profit and loss account, and limited disclosure notes. Professional preparation helps make sure the accounts reflect your company’s actual financial records, are presented consistently with the framework you have chosen, and are ready for the relevant filing and tax processes. Eligibility is not automatic, however — it depends on your company’s size and circumstances, and other rules and exclusions may apply. A short conversation about your turnover, balance sheet total, employee numbers and company structure is usually the quickest way to establish whether FRS 105 Micro Entity Accounts are the right fit for your Oldham 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 
    
 
 
 
   
 
 
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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 Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is a stripped-back accounting framework: it lets qualifying companies prepare simpler financial statements with far fewer disclosure notes than FRS 102, and it applies a small number of straightforward measurement rules. It sits alongside the UK micro-entities regime, which is an optional accounting regime rather than a compulsory one. If your company qualifies for that regime and you choose to use it, FRS 105 applies to the accounts you prepare. If you would rather use a fuller framework, you generally have the option to do so, and many companies do. For a small limited company in Oldham, the practical appeal is usually clarity and reduced complexity — the accounts show what the business owns and owes and what it has earned, without the volume of notes required elsewhere. FRS 105 financial statements are still real statutory accounts and still need to be prepared accurately from your records, so the framework is best treated as a simpler route to reliable reporting rather than a shortcut around good bookkeeping.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is a two-part test: your company has to meet the relevant size conditions, and then it has to decide to use the regime. 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. It is important not to treat those figures as the whole picture. Other eligibility rules and exclusions can apply depending on what the company does, how it is structured and whether it sits within a group, and there are rules about how the conditions are assessed and about moving in and out of the regime. Meeting the size conditions therefore does not guarantee eligibility. For an Oldham company weighing up its options, the practical approach is to look at the figures for the relevant period alongside the wider rules, then decide whether the micro-entities regime is the right basis for the company’s FRS 105 Micro Entity Accounts.

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

Good FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank information, invoices, expense detail and any other supporting documentation to build financial statements that reflect what has actually happened in your business during the period. The accounts are then prepared in line with the FRS 105 framework and the micro-entities regime, so the balance sheet, profit and loss account and any required notes are presented consistently and in the expected format. It is worth being clear about the different pieces of the puzzle: preparing FRS 105 financial statements for the company is one task, filing accounts with Companies House is a separate submission, and a Corporation Tax Return (CT600) is a further, distinct filing made to HMRC. Each has its own information requirements and its own process. We can help with the accounting and the financial statements, and we can talk you through how the filing obligations fit together, so nothing is missed and nothing is double-counted. What we cannot do is promise an outcome — acceptance of any filing rests with the relevant body, and the accuracy of the accounts depends on the information provided. What we can do is apply care, consistency and a clear explanation at every step.

ICAEW

ACCA

AAT

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

If you are unsure whether FRS 105 Micro Entity Accounts suit your company, or you simply want the preparation taken off your plate, get in touch. Tell us about your business — what it does, how it is structured, roughly how it has traded, and what records you already keep — and share your bookkeeping or accounting information so we can look at your circumstances properly. From there we can explain whether the micro-entities regime looks appropriate for you, what the preparation involves, and how the accounts fit alongside your other company filing and tax obligations. There is no pressure and no jargon: just a straightforward conversation about your FRS 105 Micro Entity Accounts requirements and the information we would need to move forward.

─── 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 sets out the rules for recognising and measuring items in the financial statements and limits the disclosures required, which makes it considerably shorter and simpler than FRS 102. It is the framework that applies when a qualifying company chooses to use the micro-entities regime for its statutory accounts.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK 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 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 also apply, so meeting the size conditions alone does not automatically mean your company qualifies.

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 choose to apply it and therefore use FRS 105, but it can also elect to prepare accounts under a fuller framework such as FRS 102. The choice is a decision for the company, and it is worth weighing up factors such as how the accounts will be used and what lenders, investors or other parties expect to see.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general financial reporting standard for UK companies, while FRS 105 is the reduced framework for qualifying micro-entities. FRS 105 requires far fewer disclosure notes and applies simpler measurement rules, including a different approach to certain items. The trade-off is that FRS 105 accounts give readers less detail. If a company needs a richer set of financial statements, FRS 102 is usually the alternative.

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

Preparing FRS 105 financial statements and filing accounts with Companies House are two separate steps that go together. The accounts prepared under FRS 105 are the statutory accounts, and companies that are required to file accounts will generally need to submit them to Companies House. The exact filing route and content depend on the company's circumstances and the filing options available to it.

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

Yes, they are distinct. FRS 105 accounts are the company's statutory financial statements, prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The two are connected because the accounts figures normally inform the tax return, but they are separate documents with separate submission processes and separate deadlines.

Can a newly formed limited company use FRS 105?

A new limited company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it, which many smaller start-ups do because the reporting is simpler. In the first period the company still needs to satisfy the relevant size conditions and any other eligibility rules, and those conditions are assessed against the applicable rules for that accounting period. It is worth confirming the position for your first set of accounts rather than assuming.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping records or a summary of income and expenses, bank statements and reconciliations, details of amounts owed to and by the company, information on fixed assets and any loans, plus payroll or employee number information. If you already have draft accounts or a trial balance, that helps too. The more complete and up-to-date the records, the more straightforward the preparation tends to be.

What changes are coming to micro-entity accounts filing?

Company filing requirements have been evolving, with a move toward filing accounts digitally and, in due course, filing more detailed profit and loss information rather than only an abbreviated balance sheet. The detail and timing of these changes depend on the rules as they come into force. Because the position can shift, it is sensible to check the current requirements for your accounting period before you file, and we are happy to talk through what applies to your company.