─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bramley

FRS 105 Micro Entity Accounts are the annual financial statements prepared under the UK micro-entities regime — a reporting framework created for companies that qualify as micro-entities and choose to apply it. For many owner-managed businesses in Bramley, it offers a simpler way to present the year’s figures, with a historic cost basis and far fewer disclosure requirements than fuller accounting standards. FRS 105 does not apply automatically, though. A company first has to meet the relevant eligibility conditions and then decide that the micro-entities regime is the right fit for its circumstances. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect what actually happened in the business, tie back to your bookkeeping records and are set out in a format appropriate to your company, while keeping the accounts themselves clearly separate from Corporation Tax filings and other Companies House obligations.

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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 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard that underpins the micro-entities regime. In straightforward terms, it is a short, simplified standard that qualifying companies can use when preparing their annual financial statements. Under FRS 105, accounts are prepared on a historic cost basis, which means assets and liabilities are generally carried at their original transaction values rather than being revalued or measured at fair value, and the disclosure notes are kept to a minimum. The typical output is a balance sheet, a profit and loss account and a small number of supporting notes. The important point is that FRS 105 sits inside the micro-entities regime: a company can choose the regime only if it qualifies for it, and FRS 105 is the framework that applies once that choice has been made. Companies that qualify but prefer a fuller framework can look at alternatives such as FRS 102 instead. If you run a company in Bramley and want to know whether FRS 105 Micro Entity Accounts suit your business, the starting point is a review of your size, structure and reporting needs.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose 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 thresholds are the starting point, not the whole picture. Other eligibility rules and exclusions can apply — certain company types and circumstances are treated differently — so it is possible to sit within the size limits and still not be able to use the regime. Eligibility also has to be assessed for the company and period in question, and the regime then has to be actively chosen. In practice, that means looking at your company’s structure, its accounts history and how the current year is shaping up before concluding that FRS 105 Micro Entity Accounts are the right route for a business in Bramley.

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 Bramley Companies

Accurate financial reporting starts with accurate records, and that is where professionally prepared FRS 105 Micro Entity Accounts add real value. We work from your bookkeeping, bank information, invoices, payroll data and asset records to build a set of financial statements that reflects your company’s trading position for the accounting period under the micro-entities regime. The accounts are prepared in line with the applicable reporting requirements for a company using FRS 105, with the balance sheet, profit and loss account and supporting notes presented consistently with the framework and with your underlying records. It is worth being clear about what sits where: the FRS 105 financial statements are the company’s annual accounts, and where a company is required to file accounts, those accounts are delivered to Companies House. Corporation Tax is a separate matter entirely, dealt with through a CT600 submitted to HMRC under tax rules rather than accounting rules. We can help you understand how each piece fits together without overstating what any single filing does.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Bramley

If you would like support with your FRS 105 Micro Entity Accounts, we are ready to talk through your requirements. Tell us about your company — how it is structured, what it does, when your accounting period ends and where your records currently stand — and we can assess whether the micro-entities regime looks like a sensible fit, or whether another framework deserves consideration. Bring along whatever you have: bookkeeping exports, a trial balance, bank statements, sales and purchase records, details of assets, loans and director’s loans, and last year’s accounts if there are any. From there we can explain what is involved in preparing FRS 105 Micro Entity Accounts for your business and how the annual accounts, Companies House filing and any separate Corporation Tax obligations fit together. Get in touch to start the conversation.

─── 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 qualifying micro-entity companies prepare their annual financial statements, using a historic cost approach with limited disclosure requirements. It is one of several accounting frameworks available in the UK, and it only comes into play where a company qualifies for the micro-entities regime and chooses to apply it.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualification depends on the size conditions plus a range of other rules and exclusions — some companies are excluded from the regime regardless of their size. Meeting the size tests on their own does not automatically mean FRS 105 is available or appropriate, so the full eligibility position should be checked before the framework is adopted.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option rather than an obligation for qualifying companies. A company that qualifies may instead prepare its accounts under FRS 102, including the small company provisions, if that better suits its circumstances or the expectations of lenders and other users. What matters is that the chosen framework is appropriate for the company and applied consistently.

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. These are the headline size tests, and other eligibility rules and exclusions can still affect whether the micro-entities regime is available, so the criteria should be applied to your specific company rather than assumed.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a much fuller standard. It allows or requires fair value measurements, deferred tax and a broader set of disclosures, and it is used by a wide range of companies, including many small ones. FRS 105 is deliberately simpler: historic cost only, minimal notes and a shorter set of financial statements. The choice affects how figures are measured, what is disclosed and how easily the accounts can be compared with previous periods, so it is worth thinking through rather than defaulting.

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

FRS 105 describes how the accounts are prepared, not whether they must be filed. Where a company is required to file annual accounts, those accounts — including micro-entity accounts — are delivered to Companies House within the statutory deadline that applies to the company. Filing is a company law obligation, so it is worth keeping the preparation of the financial statements and the act of filing them clearly separated in your planning.

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

Yes, they are distinct. The FRS 105 Micro Entity Accounts are the company's financial statements prepared under the accounting framework, and they usually form the starting point for the tax computation. The CT600 is a Corporation Tax return prepared under tax rules and submitted to HMRC, with its own adjustments, figures and deadline. Acceptable accounting treatment and acceptable tax treatment are not always identical, which is why the two are handled separately.

What information is needed to prepare FRS 105 accounts?

Most companies can get started with bookkeeping records or a trial balance for the period, bank statements and reconciliations, sales and purchase records, details of fixed assets and any depreciation, stock or work in progress where relevant, loan, hire purchase and director's loan balances, payroll information and the previous year's accounts. The cleaner and more complete the records, the more straightforward the preparation tends to be.