─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Worsley Manchester

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the UK micro-entities regime. If you run a small limited company in Worsley Manchester, this route can keep your statutory accounts simpler and shorter than fuller reporting frameworks, while still reflecting your business’s actual financial position. Professional preparation helps ensure your FRS 105 accounts are put together appropriately for your company’s circumstances — the nature of your trade, your asset base, whether you have loans or director’s loan balances, and whether any transactions need particular care under the micro-entities regime. It also helps to have your figures checked against your underlying records before the accounts are finalised and filed. Not every small company is eligible, and even those that are may not always find FRS 105 the right fit, so it is worth taking advice on your own position rather than assuming the regime applies automatically.

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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

What Is FRS 105? The Micro-Entities Regime Explained for Worsley Manchester Companies

FRS 105 is the UK financial reporting standard that sits alongside the micro-entities regime — the lightest accounting framework available to companies that qualify as micro-entities under company law. In simple terms, it is a set of rules for preparing annual financial statements on a straightforward, historic cost basis, with fewer adjustments and far fewer disclosure notes than a company reporting under a fuller framework such as FRS 102. That means less time spent on technical measurement questions and a shorter set of accounts to review. The important point is that FRS 105 is not something a company is automatically placed into: a company must first qualify as a micro-entity, and then it must actively choose to apply the micro-entities regime. FRS 105 applies when that choice is made. If a company qualifies but prefers a fuller picture, or has transactions that sit awkwardly within the micro-entities rules, it can use a different framework instead. For many small owner-managed businesses in Worsley Manchester, though, FRS 105 offers a sensible balance: accounts that meet the legal requirement to prepare financial statements, without unnecessary complexity.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — qualification being one step, and the decision to adopt the regime being another. 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 during the accounting period. It is important to be precise here, because falling within those figures is not the whole story. Other eligibility rules and exclusions apply, and certain entities are excluded from the regime altogether regardless of their size — investment undertakings being a well-known example. A company that qualifies but prefers the fuller disclosure and measurement options of FRS 102 can also elect not to use the micro-entities regime. That means eligibility should be assessed on your company’s own facts, including any group relationships or unusual activities, rather than assumed from turnover and headcount alone. Directors of companies across Worsley Manchester who want certainty on this point are best served by a short, focused review of their position before the accounts are prepared.

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 your financial records — bookkeeping, bank and credit card transactions, sales and purchase documentation, payroll information, asset purchases and disposals, and any loans or director’s loan movements during the period. Those records are then used to build a balance sheet and the supporting notes in the form required under the micro-entities regime, on the measurement basis that FRS 105 sets out. We prepare the financial statements and, separately, handle the Companies House filing that accompanies them, so you know which document is going where. It is worth being clear that this is distinct from your Corporation Tax obligations: the statutory accounts and the Corporation Tax Return (CT600) are separate deliverables, submitted to different bodies, and prepared on different bases. Your FRS 105 accounts are the financial statements; the CT600 is the tax filing. We can work with both, but they are not the same task and should not be treated as interchangeable. Accounts are always prepared from the information available and the reporting requirements that apply to your company — the aim is an accurate, well-supported set of figures, not a shortcut.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Worsley Manchester

If you are weighing up whether FRS 105 Micro Entity Accounts suit your company, the best next step is a straightforward conversation about your circumstances. Tell us about your business, the accounting period you need accounts for, how your records are kept, whether you have any loans, assets or more unusual transactions, and whether you have already filed accounts before. That gives us what we need to assess your position properly and explain clearly what is involved, what information we would need from you, and how the micro-entities regime would apply — or whether a different framework might be more appropriate. We keep our pricing clear and transparent, with fixed-fee options, so there are no surprises. Reach out and we will take it from there.

─── 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 companies using the micro-entities regime. It sets out how the financial statements should be measured — broadly on a historic cost basis, without most fair value adjustments and without deferred tax — and it requires only a small set of disclosure notes. The result is a shorter, simpler set of accounts than you would see under a fuller framework such as FRS 102.

Who can use FRS 105?

It is available to companies that qualify as micro-entities under UK company law and then choose to apply the micro-entities regime. FRS 105 applies once that choice is made. Qualification is based on size conditions and also on whether any exclusion applies to your company, so meeting the size tests alone does not automatically mean you are entitled to use it. Certain types of entity, such as investment undertakings, are excluded regardless of size.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it, in which case FRS 105 governs the accounts — or it can apply a fuller framework such as FRS 102 instead. Some directors prefer the fuller framework because it gives a more detailed picture or suits particular transactions better. The choice should be made with your circumstances in mind, and it can be revisited in later periods.

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 these 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 during the period. On top of the size conditions, other rules and exclusions can apply, so eligibility needs to be confirmed for your specific company rather than assumed from the figures alone.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but FRS 105 is designed for the smallest companies and is deliberately more restricted. Under FRS 105, measurement is largely historic cost, revaluations and most fair value accounting are not permitted, and disclosure requirements are minimal. FRS 102 is a fuller framework with more measurement options, more judgements and a much longer set of notes. In practice, FRS 105 accounts are shorter and quicker to prepare, while FRS 102 accounts can give a richer view of the business.

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

Yes — a company using FRS 105 still has to prepare statutory accounts and file them with Companies House, alongside the filings required for the period. You can file them as micro-entity accounts, which reflects the reduced disclosure the regime allows. Bear in mind that filing with Companies House is separate from dealing with HMRC: your accounts may also need to be submitted to HMRC in support of your Corporation Tax position, but that is a distinct process from the Companies House filing.

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

Yes, they are separate things. FRS 105 accounts are your statutory financial statements, prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return, submitted to HMRC, which reports your taxable profits and calculates the tax due under tax rules rather than accounting rules. The figures often start from the same records, but adjustments, timing differences and tax-specific treatments mean the two documents will not necessarily match line for line.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first accounting period if it qualifies as a micro-entity and chooses to apply the micro-entities regime — there is no minimum trading history requirement in the framework itself. In practice, first-year accounts often need a little more groundwork because there is no prior year set of figures to compare against, so having your records organised from the start makes the process smoother.

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

Typically we would ask for your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase documentation, payroll and employee information, details of assets bought or sold, any loan or director's loan movements, and your previous year's accounts if you have filed before. If you use accounting software, granting access is usually the quickest route. The more complete the records, the fewer queries arise while the accounts are being put together.

What changes are coming to micro-entity accounts filing?

The direction of travel at Companies House is towards mandatory software-based, online filing of accounts, with an expectation that small and micro-entity accounts will need to be filed in a structured digital format, and proposals to require more information — including profit and loss — to be filed for small companies. These changes stem from the Economic Crime and Corporate Transparency Act and are being introduced in stages. It is worth checking the current position before each filing rather than relying on how you filed last year.