─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rathmell

FRS 105 Micro Entity Accounts in Rathmell are prepared under the financial reporting framework that applies when a qualifying company chooses to adopt the UK micro-entities regime. FRS 105 is a distinct accounting standard, and it is not simply a lighter version of the accounts a larger company would prepare — it comes with its own recognition and measurement rules, its own disclosure requirements and its own set of statutory financial statements. Professional preparation can help ensure those accounts reflect the company’s actual circumstances, are built from complete and accurate records, and are presented consistently from one period to the next. It also helps to keep the accounting treatment of items such as fixed assets, debtors, creditors and provisions aligned with the framework rather than carried over from a different basis of preparation. Because eligibility depends on more than turnover alone, and because the regime is a choice rather than an automatic entitlement, the starting point is always a review of the company’s position before any accounts are drafted.

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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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the financial reporting standard that UK companies use when they qualify for, and choose to apply, the micro-entities regime. In simple terms, it sets out how a micro-entity prepares its annual accounts — what it recognises, how it measures those items and what it discloses — so that the resulting financial statements give a clear picture of the company’s position without the volume of detail required under larger-company frameworks. Qualifying is not the same as being required to use it: the micro-entities regime is an available accounting regime, and FRS 105 applies when a company decides to adopt it. That decision affects the shape of the balance sheet and profit and loss account, the notes that accompany them and the way the figures are presented to shareholders and filed at Companies House. For owners of small companies in Rathmell, understanding that choice early — before the year-end work begins — is often the difference between a straightforward set of accounts and a period of avoidable rework.

Who Can Use FRS 105 in the UK? Companies That Qualify for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it — the two conditions go together, because qualifying for the regime does not oblige a company to adopt 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 figures are a starting point rather than the whole picture. Other eligibility rules and exclusions apply, and certain entities are prevented from using the regime regardless of how small they are, so meeting the size conditions alone does not automatically mean a company qualifies. Where a company sits close to a condition, or where its activity or structure is unusual, the position should be reviewed against the applicable rules before a basis of preparation is settled. For companies in Rathmell considering FRS 105 Micro Entity Accounts, that review is a practical first step rather than a formality.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with the company’s own financial records: bookkeeping entries, bank statements, sales and purchase documentation, payroll information, asset purchases and disposals, and any loans or balances owed to or by the company. From that base, the financial statements are built in line with the applicable reporting requirements for the micro-entities regime, with the balance sheet, profit and loss account and supporting notes prepared consistently and checked against the underlying records. It is important to separate two distinct pieces of work. Preparing and filing the accounts is one process; dealing with Corporation Tax, including any Corporation Tax Return (CT600) submitted to HMRC, is a separate process with its own rules and deadlines. A Confirmation Statement is a further, different filing. Because these obligations are sometimes confused, our approach is to be clear about what each piece of work covers, what information is needed and when, so that nothing is assumed or overlooked. We prepare the accounts from the records provided and explain the basis on which they have been drawn up.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Rathmell

If your company may qualify for the micro-entities regime and you would like help with FRS 105 Micro Entity Accounts, get in touch with our team. Tell us a little about your business — your accounting period, what you do and roughly how you trade — and we can discuss whether FRS 105 is likely to be the right basis for your accounts, what records we would need to see, and how the accounts fit alongside your other filing obligations. If you have accounts prepared on a different basis in previous years, or you are unsure whether the regime applies to you, that is a useful conversation to have before your year-end. We will explain the options clearly, outline the information required to assess your circumstances, and let you know what happens next.

─── 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 in simple terms?

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 how a micro-entity recognises and measures items in its accounts and what it discloses. Practically speaking, it allows a qualifying company to prepare shorter, more streamlined statutory accounts than it would under a framework designed for larger businesses, while still producing a balance sheet and profit and loss account that reflect its position.

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, in which case FRS 105 is the standard used, or it may choose to prepare its accounts under a different framework such as FRS 102. The choice has consequences for the content and presentation of the accounts, so it is worth considering deliberately rather than by default, and it is usually sensible to keep the same approach from one year to the next unless there is a good reason to change.

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. Meeting those size conditions is not by itself a guarantee of eligibility, because other rules and exclusions can apply. Certain companies, and certain types of entity, are excluded from the regime regardless of size, so eligibility should always be checked against the company's specific circumstances.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the financial reporting standard applied by a much wider range of UK companies, and it allows or requires more detailed recognition, measurement and disclosure than FRS 105. FRS 105, by contrast, is tailored to the micro-entities regime and is deliberately simpler in a number of areas — for example in how certain items are measured and how much has to be disclosed. A company that does not qualify for, or chooses not to adopt, the micro-entities regime may well prepare its accounts under FRS 102 instead.

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

Where a company prepares its statutory accounts under FRS 105, those accounts form the basis of the company's annual accounts filing at Companies House, alongside any other documents the company is required to deliver. The filing obligation is separate from the accounting framework itself: choosing FRS 105 changes how the accounts are prepared and presented, not whether they need to be filed. It is also worth remembering that a Confirmation Statement is a different filing with a different purpose, and is not a substitute for the accounts.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are prepared under the accounting framework and form the company's statutory financial statements. A Corporation Tax Return, commonly referred to as a CT600, is a tax filing submitted to HMRC and is governed by tax rules rather than accounting standards. The two are linked in the sense that the accounts provide figures that feed into the tax computation, but they are distinct pieces of work with distinct deadlines and distinct submission routes.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 from its first accounting period, provided it qualifies for the micro-entities regime and chooses to apply it. New companies sometimes assume they will be treated as a micro-entity automatically, but eligibility is assessed against the applicable conditions and the relevant rules and exclusions. It is worth confirming the position early, particularly if the company expects to grow quickly, take investment, or carry on an activity that falls outside the regime.

What information is needed to prepare FRS 105 accounts?

In most cases we would look for complete bookkeeping records covering the accounting period, bank and credit card statements, sales invoices and purchase documentation, payroll and employee information, details of any assets bought or sold, and information on loans, director's balances and amounts owed to or by the company. If stock is held, a valuation will usually be needed, and if the company has previously prepared accounts on a different basis, copies of those accounts help to keep the treatment consistent. A short conversation at the outset usually identifies anything else specific to your circumstances.