─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Roundhay

If your company qualifies as a micro-entity and you have chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the UK standard designed for qualifying micro-entities, and it produces a simpler set of financial statements than the larger reporting frameworks, which can suit owner-managed companies in Roundhay and the surrounding Leeds area. Professional preparation starts with your underlying records — bookkeeping, bank and expense details, fixed asset information and anything else relevant to the period — and then builds them into a set of FRS 105 financial statements that reflect your company’s own circumstances. Just as importantly, the right support helps you understand what you are filing and why, including which disclosures apply and how the accounts connect to your wider obligations. Not every small company qualifies for the micro-entities regime, so eligibility is always worth checking before the 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 
    
 
 
 
   
 
 
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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 in Roundhay

FRS 105 is the financial reporting standard that applies when a qualifying company chooses to use the UK micro-entities regime. In plain terms, it is the most streamlined set of rules available for preparing statutory financial statements: the accounts still need to give a true and fair view of the company’s financial position and performance, but the recognition, measurement and disclosure requirements are simplified compared with FRS 102. That can mean fewer notes to the accounts and a shorter set of statements than you would see under FRS 102 Section 1A. The key point is that the micro-entities regime is a choice, not an automatic label. A company must first meet the relevant eligibility conditions, and having met them it can decide whether to adopt the regime. FRS 105 then applies where that choice is made. For a Roundhay-based company, that decision affects the format and content of the annual accounts, and it is sensible to review it each year, because a change in turnover, balance sheet total or employee numbers can affect whether the regime remains available.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to apply it — it is not open to every small company by default. For accounting periods beginning on or after 6 April 2025, a company generally needs to satisfy 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 over the period. Those figures are the starting point rather than the finish line. Certain companies and groups are excluded from the regime regardless of their size, and there are additional rules around parent and subsidiary relationships, ineligible entity types and how averages are calculated. Because eligibility can shift from one year to the next as a business grows, the position should be reviewed for each accounting period. If your company qualifies and chooses the micro-entities regime, FRS 105 is the framework that applies to its financial statements.

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.

Accurate, Professionally Prepared FRS 105 Micro Entity Accounts in Roundhay

Professionally prepared FRS 105 Micro Entity Accounts are built from your company’s financial records and the reporting requirements that apply to it. The work typically involves reviewing your bookkeeping and supporting documents, agreeing bank and loan balances, accounting for fixed assets, stock, debtors and creditors, and then preparing financial statements — usually a balance sheet, a profit and loss account and any applicable notes — in line with FRS 105 as adopted for the micro-entities regime. It is helpful to keep the two strands of compliance separate in your mind. Preparing and filing the company’s statutory accounts is one process, generally handled through Companies House; settling the company’s Corporation Tax position is another, dealt with through a Company Tax Return (CT600) submitted to HMRC, which is separate from the accounts themselves. FRS 105 financial statements inform the tax computation, but they are not the same document as a CT600. Careful preparation helps reduce the risk of inconsistencies between the figures you report and the records you hold, and it gives you a clearer picture of your company’s position at the year end.

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ACCA

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

Whether you are preparing your first set of FRS 105 Micro Entity Accounts or want a second pair of eyes on an existing approach, the next step is a straightforward conversation about your circumstances. It helps to have to hand your latest trial balance or bookkeeping records, details of any assets, loans or stock, and your previous year’s accounts if you have them, so the position can be assessed properly and any questions answered before work begins. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements in Roundhay, and we will explain what is involved, what information is needed and how the process works from start to finish.

─── 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 as micro-entities and choose to apply the micro-entities regime. It sets out how their statutory financial statements should be prepared. Compared with FRS 102, the requirements are simplified: the accounts still need to give a true and fair view, but there are fewer measurement options and fewer disclosure notes, which keeps the statements shorter and more straightforward for a small owner-managed company.

Who can use FRS 105?

FRS 105 is available to companies that meet the micro-entity eligibility conditions and choose to adopt the micro-entities regime. 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 the size tests is not the whole story — other rules and exclusions can apply, and the regime is optional rather than automatic, so eligibility is always worth confirming for your specific company.

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 can choose to apply it, and FRS 105 applies when that choice is made. A qualifying company could instead prepare its accounts under FRS 102 Section 1A, which involves more detailed recognition, measurement and disclosure requirements. Many micro-entities prefer FRS 105 for its simplicity, but the decision should be based on the company's circumstances and what its users need from the accounts.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the streamlined framework for qualifying micro-entities applying the micro-entities regime, with fewer measurement options and reduced disclosures. FRS 102 is a fuller framework, and Section 1A of FRS 102 applies to small companies that do not use the micro-entities regime. FRS 102 generally allows more options, such as revaluation and fair value measurement, and requires more notes — so the choice of framework affects both the figures and the volume of disclosure in your accounts.

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

Statutory accounts generally need to be filed with Companies House, and where a company has prepared FRS 105 Micro Entity Accounts those are the accounts used for that purpose. The exact filing position — including what a company is permitted to file and in what format — depends on its size, its circumstances and current Companies House requirements, so it is worth checking the position for your own year end rather than assuming. Filing the accounts is a separate exercise from dealing with Corporation Tax.

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

Yes, they are two distinct filings. The FRS 105 accounts are the company's statutory financial statements, prepared under the micro-entities regime and generally filed at Companies House. The CT600 is a Company Tax Return submitted to HMRC to report the company's Corporation Tax position. The accounts usually provide the starting point for the tax computation, but the return itself is a separate document with its own requirements and deadlines, so the two should never be treated as interchangeable.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but only if it qualifies for the micro-entities regime in the relevant period and chooses to apply it. A first accounting period is often shorter than twelve months, and turnover, balance sheet total and employee numbers need to be considered in line with the applicable rules. Because eligibility can change as a company grows — or as a period is shortened or extended — it is sensible to review the position each year rather than assume the same framework will apply indefinitely.

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

Preparation usually starts with complete financial records for the period: bookkeeping or a trial balance, bank statements and reconciliations, sales and purchase documentation, payroll information, details of any loans or finance agreements, and records of assets bought or sold. Stock or work-in-progress valuations, details of debtors and creditors, and the previous year's accounts are also helpful. The more complete and organised the records are, the more smoothly the accounts can be prepared, and the easier it is to deal with any questions that arise along the way.