─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cowling Keighley

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and it is used to prepare the statutory accounts of a company that meets the relevant size conditions and is not excluded from that regime. If your company is based in or around Cowling Keighley and you are working out how your annual accounts should be prepared, professionally prepared FRS 105 Micro Entity Accounts can be built from your financial records and tailored to your company’s own circumstances — its trading activity, balance sheet, any loans, directors’ current accounts, stock and the disclosures the framework requires. Because the micro-entities regime is an available accounting regime rather than an automatic entitlement, the sensible first step is to check whether your company qualifies for the period in question, then confirm that FRS 105 is the most suitable basis before the accounts are finalised and filed.

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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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 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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 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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 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: What the Micro-Entities Regime Means in Practice

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it sits under the UK micro-entities regime created by company law, and it applies when a qualifying company chooses to use that regime for its annual financial statements. The idea behind FRS 105 is simplicity: the accounts focus on the basics — what the company owns, what it owes, and what it has earned — with a lighter set of notes and a simpler measurement approach than the larger standards allow. That makes it attractive to very small companies that want statutory accounts which are straightforward, readable and proportionate to the size of the business. Two points are worth being clear about. First, qualifying for the micro-entities regime does not happen automatically for every small company — there are size conditions and other rules and exclusions to consider. Second, using the regime is a choice: if a company qualifies, it can decide to apply the micro-entities regime, and FRS 105 applies when that choice is made. If it does not qualify, or decides not to use the regime, a different framework such as FRS 102 would normally be used instead. Good FRS 105 Micro Entity Accounts therefore start with a proper look at eligibility, followed by accounts that reflect the company’s real figures and the disclosures the standard requires.

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. 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 during the period. Those conditions are a starting point, not a complete answer. Certain companies are excluded from the micro-entities regime regardless of their size — for example, some entities whose accounts must be prepared under a different framework — and other eligibility rules can affect the position. Meeting the size thresholds alone therefore does not guarantee that FRS 105 is available to your company, and eligibility can change from one accounting period to the next as turnover, balance sheet totals or headcount move. That is why a short eligibility review is usually the first step before FRS 105 Micro Entity Accounts are prepared, and why it is sensible to revisit the question annually rather than treat it as settled.

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.

FRS 105 Micro Entity Accounts: Professionally Prepared Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means working from the company’s underlying records — bookkeeping, bank statements, sales and purchase information, payroll, loan agreements and asset details — and presenting them in line with the reporting requirements that apply to a micro-entity. In practice that involves confirming the basis of preparation, drafting the balance sheet and profit and loss account in the format the framework expects, considering the limited notes and disclosures that are relevant, and making sure the figures are consistent with the accounting records and with the previous period. It is equally important to keep the different filing obligations separate in your mind. The statutory accounts are prepared under the chosen accounting framework and are filed with Companies House, while Corporation Tax is a distinct matter dealt with through a Company Tax Return (CT600) submitted to HMRC, and the Confirmation Statement is a further, separate filing. Our role is to prepare accounts based on the information you provide and the reporting requirements that apply to your company, and to keep you informed about what is being filed and when. Nothing here should be read as a guarantee of any particular outcome, or as approval or endorsement by Companies House or HMRC.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Cowling Keighley

If you would like support with your FRS 105 Micro Entity Accounts, the best place to start is a straightforward conversation about your company. Tell us about your trading year, your accounting period, whether you have prepared accounts before, and whether you believe your company qualifies for the micro-entities regime. It also helps to have your records to hand — bank statements, sales and expense details, payroll information, any finance or director loan agreements, and details of assets — so we can assess your circumstances and explain the options open to you. From there we can talk through how the accounts would be prepared, what information is still needed, and how the accounts and your other filing obligations fit together. We offer clear, transparent pricing and fixed-fee options, 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 for micro-entities. It sets out how a qualifying company that chooses to apply the micro-entities regime prepares its annual financial statements, including the formats for the balance sheet and profit and loss account and the limited disclosures that are required. It is deliberately simpler and shorter than the standards used by larger companies, which is why it suits very small businesses that want proportionate statutory accounts.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not simply a matter of being a small company: the size conditions must be met, and certain companies are excluded from the regime altogether. It is also a choice rather than an obligation, so a qualifying company may instead prepare accounts under a different framework. Because eligibility depends on your company's specific circumstances, it is worth reviewing each year rather than assuming the position stays the same.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. If a company qualifies, it can decide whether to apply the regime and prepare FRS 105 accounts, or to use a different framework such as FRS 102. In practice, the decision usually comes down to which basis best reflects the company's circumstances and reporting needs, and it is a decision that can be revisited if circumstances change.

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 the 3 applicable size conditions, subject to the relevant rules and exclusions. Those conditions are 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 the size conditions is not the whole story, because other eligibility rules and exclusions can apply, so the criteria should be checked against your company's actual position before the accounts are prepared.

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. FRS 102 is the standard used by most small and medium-sized companies and gives a wider range of accounting policy choices, fair value options and disclosures. FRS 105 is the micro-entities standard: it is more prescriptive, more simplified and has considerably lighter disclosure requirements. Choosing between them normally comes down to whether the company qualifies for and selects the micro-entities regime, and whether the simpler basis is suitable for its circumstances.

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

Yes. Statutory accounts prepared under FRS 105 are filed with Companies House for the accounting period in question, within the deadline that applies to your company. Filing arrangements for small and micro-entity accounts are evolving, with a general shift towards digital, software-based filing rather than paper or web-based submissions, so it is worth checking the current position for your period. Filing the accounts is separate from your Corporation Tax obligations and from your Confirmation Statement.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the accounting framework and filed with Companies House. A Corporation Tax Return, normally submitted as a CT600, is a separate filing made to HMRC that calculates the company's taxable profit and the tax due. The figures in the accounts usually inform the tax return, but the two are prepared for different purposes and go to different bodies, so they should not be treated as interchangeable.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime for the period in question and chooses to apply it. A first set of accounts may need particular care, because there may be no previous period to compare against and the company's first-year position — set-up costs, share capital, initial transactions and any directors' loans — needs to be reflected properly. It is worth checking eligibility for that first period rather than assuming the regime applies.