─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Colne

FRS 105 Micro Entity Accounts in Colne are prepared under the UK financial reporting framework designed for companies that qualify for the micro-entities regime and choose to apply it. FRS 105 allows qualifying companies to produce simpler financial statements with far fewer disclosures than larger frameworks, built on a straightforward historical cost basis. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your company’s actual financial records and are presented appropriately for its circumstances, rather than being treated as a generic template exercise. It is important to recognise that meeting the size tests does not automatically mean a company qualifies for the regime — other rules and exclusions can apply — so it is worth reviewing your position before deciding which framework to use. Our role is to work through your circumstances, confirm how the micro-entities regime applies to you, and prepare FRS 105 Micro Entity Accounts that present your figures clearly and consistently.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard that sits behind micro-entity accounts. In simple terms, it is the rulebook a company follows when it qualifies for the micro-entities regime and decides to use it. The idea is straightforward: micro-entities get a lighter set of financial statements, with a simpler format, a historical cost approach and a much shorter set of notes than small companies preparing accounts under FRS 102 Section 1A. The micro-entities regime is not compulsory. A company that qualifies may choose to apply it, and FRS 105 applies when that regime is chosen — if a company qualifies but prefers a fuller reporting framework, another standard can be used instead. Eligibility itself depends on meeting the relevant size conditions and on not being caught by the associated rules and exclusions. For directors in Colne, the practical benefit of FRS 105 Micro Entity Accounts is that the financial statements stay proportionate to the size and complexity of the business, while still giving a clear picture of the company’s financial position and results.

Who Can Use FRS 105 Micro Entity Accounts in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — it is a regime you opt into, not one that is imposed automatically. 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 those thresholds is an important starting point, but it is not the end of the assessment. Other eligibility rules and exclusions can apply, and some companies are prevented from using the regime regardless of their size, while in certain cases the tests may need to be considered on a group basis. For that reason, sharing a set of numbers alone does not confirm eligibility. If you run a company in Colne and want to know whether FRS 105 Micro Entity Accounts are open to you, we can review your circumstances — your trading activity, structure, ownership and reporting history — and explain whether the micro-entities regime is available and whether it is likely to suit your needs.

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

FRS 105 Micro Entity Accounts should be built from your company’s underlying financial records — bank and credit card transactions, sales and purchase invoices, payroll information, asset purchases, loans and any other relevant documents — and then presented in line with the applicable reporting requirements for the micro-entities regime. That means the accounts need to be consistent with the standard’s recognition and measurement rules, with the statutory format, and with the disclosures required at micro-entity level. It is also worth keeping the different filing obligations clearly separated in your mind. Accounts prepared for the company’s members and the accounts filed at Companies House are part of the financial reporting process, while a Corporation Tax Return (CT600) is a separate submission made to HMRC, and a Confirmation Statement is a separate annual filing altogether. FRS 105 Micro Entity Accounts in Colne are no substitute for any of those obligations. As your accountants, we prepare financial statements from the information you provide and support you with the Companies House filing, while dealing with Corporation Tax matters as a distinct piece of work. We cannot promise that accounts will be accepted without question, and no accountant can guarantee a particular tax outcome, but careful preparation based on accurate records gives you the best foundation for a straightforward filing.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Colne

If you run a small company in Colne and want to know whether the micro-entities regime is the right fit, or you simply need your FRS 105 Micro Entity Accounts prepared properly, get in touch and let’s talk it through. Tell us about your business, your accounting period, your current bookkeeping arrangements and what you have already filed, and we can assess how FRS 105 applies to your circumstances and explain the options open to you. We will also flag where your records may need tidying up before the accounts are prepared, so there are no surprises later. Pricing is clear and transparent, with fixed-fee options available, so you know where you stand before any work begins.

─── 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 micro-entity financial statements are recognised, measured and presented, and it is deliberately streamlined: a historical cost basis, a simplified format and a limited set of disclosures. It exists so that very small companies can report proportionately, rather than following the fuller requirements that apply to larger businesses.

Who can use FRS 105?

FRS 105 is available to 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. Meeting those tests is not the whole story — other eligibility rules and exclusions can apply — so eligibility should be confirmed rather than assumed.

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 may choose to apply it, and FRS 105 applies when that regime is chosen. Qualifying companies that prefer fuller reporting can use FRS 102 Section 1A instead, and there are certain entities that cannot use the micro-entities regime at all. The choice affects how the accounts look and what is disclosed, so it is worth considering properly.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the standard used by most small companies, with Section 1A providing a reduced-disclosure version for small entities. FRS 105 goes further down the simplification path: it is based on historical cost, does not permit revaluations or fair value accounting, does not recognise deferred tax, and requires far fewer notes. FRS 102 Section 1A offers more flexibility and more disclosure. The right choice depends on your size, structure and what you want the accounts to show.

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

Where a company prepares its statutory financial statements under FRS 105, those financial statements form the basis of what is filed at Companies House, along with the required statutory information. Filing is handled separately from your Corporation Tax obligations, and it is also separate from your annual Confirmation Statement. If you are unsure what your company needs to send, and in what form, we can go through your position with you.

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

Yes, they are two different things. FRS 105 relates to the accounting and financial reporting framework used to prepare the company's financial statements. A CT600 is a Corporation Tax Return submitted to HMRC, and the taxable profit figure on it is calculated using tax rules, which can differ from the accounting profit shown in the accounts. The accounts often feed into the tax return, but preparing one does not discharge the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In practice, most new companies start small, but eligibility still depends on the applicable size conditions and on the rules and exclusions that sit around them, which can be affected by factors such as group structures or the type of business. It is worth checking before your first set of accounts is prepared.

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

We normally need a complete picture of the company's transactions for the period: bank and credit card statements, sales and purchase records, payroll details, expense receipts, details of assets bought or sold, any loans or director's loan movements, and stock or work-in-progress information where relevant. Previous accounts and confirmation of what has already been filed are also useful. The more complete and up to date your records are, the smoother the preparation process tends to be.

What changes are coming to micro-entity accounts filing?

Companies House has been moving towards software-based filing of accounts, including for small and micro-entity companies, as part of wider company law reforms. This shifts accounts filing away from simply uploading a document and towards filing through compatible software, with the option to include additional profit and loss information voluntarily. Because the practical arrangements and dates are being phased in, it is worth checking the current position rather than relying on older guidance.