─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wetherby

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK companies choosing to use the micro-entities regime. FRS 105 sits alongside the small companies regime but is deliberately simpler: it offers a more compact balance sheet format, a reduced set of notes and fewer of the accounting choices and disclosures found in fuller standards. For a company based in Wetherby, having the accounts prepared by someone who works with the micro-entities regime regularly makes the whole process far more straightforward. We start by reviewing your records and understanding how your company is structured and what it has done during the period, then prepare FRS 105 Micro Entity Accounts that reflect those circumstances. Eligibility is not automatic — it depends on the applicable size conditions and on the other rules and exclusions in force — so we check the position before any framework is applied, and we will tell you if a different basis looks more appropriate for your situation.

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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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 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 
 
 
 
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─── FRS 105 EXPLAINED

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It is tied to the micro-entities regime, which is a set of rules giving the smallest companies a simpler way to prepare their annual accounts. Where a company qualifies for that regime and chooses to apply it, FRS 105 is the standard used to produce its financial statements. In practice, that means shorter accounts, a simpler balance sheet format, far fewer notes, and much less of the estimation and fair value work that larger frameworks require. The trade-off is that the accounts give a more limited picture, and some information that other standards would present is simply not shown. For directors of a small company in Wetherby, FRS 105 can reduce the cost and effort of annual reporting while still meeting the applicable requirements. It is a choice rather than an obligation: qualifying companies can decide to use the micro-entities regime, or report under a fuller framework such as FRS 102.

Who Can Use FRS 105 in the UK?

FRS 105 Micro Entity Accounts in Wetherby are relevant to companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is size-based, but it is not quite as simple as being a small company. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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 during the period. Meeting those figures is not the end of the story. Some companies are excluded from the regime regardless of size, group and parent or subsidiary relationships can affect the position, and a company that qualified in one period may not qualify in the next. There are also rules about which periods are tested, and about companies in their first period of trading. Because eligibility determines which framework can be used, we look at the size tests alongside the relevant rules and exclusions before confirming an approach — the thresholds on their own are not a guarantee that the regime is available.

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

Professionally prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of what the company owns, owes, earns and spends. We work from your financial records — bank and credit card statements, sales and purchase information, payroll details, asset purchases and loan balances — to build a balance sheet and a profit and loss position that reflects the period and follows the presentation and disclosure requirements of FRS 105 as they apply to your company. The financial statements can then be filed with Companies House as part of your company’s accounts filing obligation, using the format and method of filing in force at the time. That is a separate exercise from Corporation Tax: where a company is within the charge to Corporation Tax, a CT600 is submitted to HMRC, normally supported by a tax computation that starts from the accounts but applies its own rules on allowable income and deductions. We can prepare the accounts, work through the figures with you and highlight where reporting and tax questions differ.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts

Every company’s circumstances are slightly different, so the most useful first step is a conversation. Tell us about your Wetherby-based company — what it does, how it is structured, whether it has been trading or dormant, and what has happened over the period — and send over your records so we can assess where you stand. From there we can explain whether the micro-entities regime is likely to be available to you, how FRS 105 Micro Entity Accounts would be prepared in your case, and what else may need attention, such as accounts filing and Corporation Tax. If FRS 105 is not the right fit, we will say so and outline the alternatives. There is no obligation, and you do not need everything perfectly organised before getting in touch — helping you work out what we need is part of what we do.

─── 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 how qualifying companies that use the micro-entities regime present their annual accounts, including the formats available for the balance sheet and the small number of disclosures required. It is a simplified framework rather than a short version of a larger one, so it has its own rules on what is recognised and measured. The result is shorter, more straightforward financial statements, but with less detail than accounts prepared under a fuller standard such as FRS 102.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size conditions set out in company law, and there are additional rules and exclusions that can prevent a company from using the regime regardless of its size — for example, certain types of entity are excluded, and group relationships can affect the position. Because eligibility is specific to each company's circumstances, it is worth checking rather than assuming, particularly where the business is growing, restructuring or part of a wider group.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is available to qualifying companies, but applying it is a choice. A company that meets the criteria can decide to use FRS 105, or it can prepare its accounts under a fuller framework such as FRS 102, including the small companies provisions. There can be good reasons to choose either route: FRS 105 keeps reporting lean, while a fuller framework provides more information for lenders, investors or anyone reviewing the numbers in detail. The decision should be made with your accountant before the accounts are prepared.

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 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 during the period. Meeting two of those three tests is not the only consideration. Certain companies are excluded from the regime, group structures can affect eligibility, and the rules determine which periods are tested. Size limits alone do not guarantee that a company can or should use FRS 105.

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 and produce different levels of detail. FRS 105 is the micro-entities standard: presentation is simpler, far fewer notes are needed, and some accounting options available elsewhere are not permitted. FRS 102 is the wider framework used by small and larger entities, and it generally requires more disclosures, more measurement work and more judgements — for instance around financial instruments, provisions and deferred tax. A company entitled to use FRS 105 may still prefer FRS 102 if the extra information is useful to its stakeholders.

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

Accounts prepared under FRS 105 still form part of the company's annual accounts, so a company with a filing obligation must deliver accounts to Companies House for each financial year. The format and method of filing must match what is permitted at the time, and micro-entity accounts are filed in a specific way. The date by which accounts must be delivered depends on the company's accounting reference date and whether it is filing for the first time. We can confirm the applicable date for your company and prepare the figures accordingly.

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

Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a separate Corporation Tax return submitted to HMRC, and it is usually supported by a tax computation that starts from the accounts but adjusts them under tax rules — for example for disallowable expenditure, capital allowances or loss relief. The two are linked by the same underlying figures, but they are different documents, with different purposes and different filing requirements.

What changes are coming to micro-entity accounts filing?

Reforms under the Economic Crime and Corporate Transparency Act are expected to change how small and micro-entity companies file their accounts with Companies House. Measures include requirements around filing in a digital format and providing profit and loss information, which for micro-entities has historically not been part of the public filing. Implementation is being phased, so the exact position depends on when your accounting period falls. We keep the practical impact in view when preparing FRS 105 Micro Entity Accounts and will flag what the changes are likely to mean for your filings.