─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Prestwich

If your company is a qualifying micro-entity, FRS 105 Micro Entity Accounts may be the most straightforward way to prepare and report your financial statements. FRS 105 is the financial reporting framework that applies when a qualifying company chooses to apply the UK micro-entities regime, and it is designed to keep reporting simple, concise and proportionate to the size of the business. Preparing these accounts well means understanding which transactions need to appear, how the balance sheet should be presented, which notes are required and how the figures should be disclosed. Because eligibility depends on your company’s own circumstances — not simply on how small it feels — professional preparation helps you confirm whether the micro-entities regime is the right fit and, if it is, ensures the accounts are put together appropriately for your company, your records and the applicable reporting requirements. For directors and owners in Prestwich, that means fewer surprises, cleaner paperwork and a clearer picture of what is being filed in your company’s name.

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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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is a UK financial reporting standard written specifically for micro-entities. In plain terms, it sets out how a small company that qualifies for the micro-entities regime should prepare its financial statements, with a deliberately simplified approach that suits the scale of a micro-entity. It sits alongside other reporting standards such as FRS 102, but it is far less detailed: it generally works on a historical cost basis, involves fewer disclosures and avoids much of the complexity found in larger-company reporting. Importantly, choosing the micro-entities regime is a decision, not an automatic outcome. A company must qualify for the regime and then choose to apply it — and FRS 105 applies when that choice is made. If your company qualifies and selects the regime, your annual accounts are prepared under FRS 105 Micro Entity Accounts rules rather than under a fuller framework. That affects how the balance sheet is presented, what notes accompany it, and how the accounts look when they are filed. Understanding this early helps directors in Prestwich plan their year-end sensibly and avoid preparing accounts on the wrong basis.

Who Can Use FRS 105 in the UK?

FRS 105 is aimed at 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 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 the starting point, not the whole test. Other eligibility rules and exclusions can apply, and certain companies are prevented from using the regime regardless of their size. It also matters that this is a choice: a qualifying company can apply the micro-entities regime and prepare FRS 105 Micro Entity Accounts, or it can opt for a fuller reporting framework. Because eligibility and suitability vary from one company to the next, the sensible approach is to review your own figures, structure and filing history against the requirements before committing to a basis of preparation for the year.

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 for Prestwich Companies

Professional preparation of FRS 105 Micro Entity Accounts starts with your company’s own financial records — bookkeeping, bank transactions, invoices, expenses, asset purchases and any relevant agreements — and applies the reporting requirements that go with the micro-entities regime. The aim is straightforward: financial statements that reflect what actually happened in the business, presented in the format the framework expects. It is worth separating the pieces here, because they are often confused. Preparing the FRS 105 financial statements is one task, filing those accounts with Companies House is a separate step, and dealing with Corporation Tax is separate again. A CT600 is a Corporation Tax Return submitted to HMRC, not a set of statutory accounts, and meeting one obligation does not automatically satisfy the other. Good preparation therefore involves getting the numbers right, presenting the disclosures correctly, and keeping the accounts filing clearly distinct from your tax filing so nothing is overlooked. Working with an experienced preparer gives you a documented, consistent basis for your micro-entity accounts and a clearer understanding of what is being submitted and why.

ICAEW

ACCA

AAT

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

If you would like help with your FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to share details such as your accounting period dates, a summary of your income and costs, your latest trial balance or bookkeeping records, details of any assets owned by the company, and whether you have already filed accounts previously. We can then look at your circumstances, discuss whether the micro-entities regime appears to be the right route for your company, and explain what is involved in preparing your accounts. There is no obligation to proceed, and clear, transparent pricing is available so you know where you stand before any work begins. Whether you are a new company approaching your first year-end or an established business reconsidering how your accounts are prepared, a short conversation is usually the quickest way to get clarity.

─── 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 qualifying micro-entities which choose to use the micro-entities regime. It is a simplified framework: it generally requires a historical cost basis, allows a reduced set of disclosures and keeps the financial statements proportionate to a very small company. When a company qualifies for the regime and decides to apply it, FRS 105 is the standard its annual accounts are prepared under.

Who can use FRS 105?

FRS 105 is available to companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying is not automatic — it depends on meeting the size conditions and on not falling within any of the rules or exclusions that prevent the regime being used. A company that qualifies may still opt for a fuller framework instead, so FRS 105 is a route to consider rather than an obligation.

Is FRS 105 compulsory for every micro-entity?

No. Being small enough to be treated as a micro-entity does not force you to use FRS 105. The micro-entities regime is an available accounting regime, and eligibility simply means it can be applied. Many companies choose it because the reporting is simpler, but others prefer a more detailed framework for reasons such as lender requirements, group reporting or the way the business is managed.

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 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 story. Other eligibility rules and exclusions can apply, so the full position needs checking against your company's specific circumstances.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general financial reporting standard used by a much wider range of UK companies, and it contains considerably more detail on measurement, recognition and disclosure. FRS 105 is a much shorter, simplified standard created specifically for micro-entities. The practical differences show up in areas such as accounting for financial instruments, deferred tax, revaluations and the number of notes to the accounts, all of which are handled more simply under FRS 105.

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

Yes — a company's annual accounts must be filed at Companies House, and if those accounts are prepared under FRS 105 they are filed as micro-entity accounts. Filing the accounts is a separate obligation from preparing them, and it is also separate from anything owed to HMRC. Micro-entity accounts submitted to Companies House typically consist of a balance sheet and the required notes rather than a full profit and loss account.

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

Yes, they are two distinct filings. FRS 105 accounts are the statutory financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which reports the company's taxable profits and calculates the tax due. The figures usually start from the same underlying records, but the accounts and the tax return serve different purposes and go to different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime and chooses to apply it. New companies often look like natural candidates because they are small at the outset, but qualification still depends on the size conditions and any applicable exclusions. It is worth confirming the position before the first year-end rather than assuming it.