─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Craghead

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. For a small company in Craghead, that choice affects how the annual accounts are put together, what is included in the balance sheet and profit and loss account, and how much disclosure is required alongside them. FRS 105 is deliberately streamlined, but streamlined does not mean automatic or careless: the accounts still need to reflect the company’s actual transactions, assets, liabilities and results for the period. Professional preparation helps you work from your own financial records to produce FRS 105 financial statements that are consistent with the framework and appropriate to your company’s circumstances. It also helps you keep the accounts themselves separate from other obligations, such as a Corporation Tax Return (CT600), a Confirmation Statement, and any VAT or payroll filings. Whether you are newly incorporated in Craghead or have traded for years, the starting point is an honest review of your figures and your eligibility before any accounts are prepared.

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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 written specifically for the micro-entities regime. In simple terms, it is the set of accounting rules a qualifying micro-entity follows when it prepares its annual financial statements and chooses to use that regime. Because it is designed for the smallest companies, FRS 105 keeps things deliberately straightforward: the accounts are prepared on a simpler measurement basis, with fewer disclosure notes than you would find under a fuller framework such as FRS 102. What you get is a balance sheet, a profit and loss account and a small number of supporting notes that give a concise picture of the business. It is important to understand that FRS 105 is not a compulsory label that attaches to every small company. A company has to qualify for the micro-entities regime, and the directors then have to decide to apply it. FRS 105 applies when that regime is chosen. If a company does not qualify, or decides the micro-entities regime is not right for it, a different framework will apply instead. For directors in Craghead weighing up their options, the practical question is whether the simpler reporting suits how the company is run and who relies on its accounts.

Who Can Use FRS 105 in the UK? Eligibility for Craghead Companies

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. A company that qualifies is not obliged to use it, and a company that does not qualify cannot simply opt in. For accounting periods beginning on or after 6 April 2025, the size test generally requires a company 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. Those figures are the headline conditions, not the complete rulebook. Other requirements and exclusions can prevent a company from using the micro-entities regime even where the numbers look comfortably within the limits, and certain types of company are excluded from the small companies regime altogether. For that reason, meeting the size conditions alone should never be treated as an automatic green light. Directors in Craghead should look at the company’s own position for the period in question — including its legal form, its activities and the framework that has been applied previously — before deciding that FRS 105 Micro Entity Accounts are the right route. Where a company does qualify and chooses the micro-entities regime, FRS 105 applies and the accounts are prepared on that basis.

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.

Accurately Prepared FRS 105 Micro Entity Accounts for Craghead Companies

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records: bookkeeping entries, bank and cash transactions, sales and purchase invoices, payroll information, asset purchases and disposals, loans and any amounts owed to or by the company. From those records, the financial statements are built to reflect the company’s position and performance for the accounting period, using the presentation and measurement approach that FRS 105 sets out for the micro-entities regime. Alongside the accounts themselves, there are separate tasks that are often confused with them. Filing annual accounts at Companies House is one obligation; preparing and submitting a Corporation Tax Return (CT600) to HMRC is another, and it is based on the company’s tax position rather than being a copy of the accounts. A Confirmation Statement is a further, distinct filing and does not contain financial information. We can prepare your FRS 105 Micro Entity Accounts from the information you provide, explain the figures we have used, and support you in meeting the filing requirements that apply to your company. Eligibility, the applicable rules and the right framework for your circumstances are reviewed before preparation begins, because the micro-entities regime is a choice available to qualifying companies rather than a default.

ICAEW

ACCA

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Let's Get Your FRS 105 Micro Entity Accounts in Craghead Sorted

If you would like help with FRS 105 Micro Entity Accounts, the best first step is a straightforward conversation about your company. Tell us about your trade, your accounting period, roughly how you operate, and what records you already keep, and we can look at whether the micro-entities regime is likely to be available to you and whether it is the sensible choice. It also helps to have your bookkeeping up to date, details of any assets, loans or director’s transactions, and a note of what has already been filed at Companies House and with HMRC. From there we can explain what is needed, how the accounts will be prepared, and how the accounting and tax obligations fit together. Pricing is clear and transparent, with fixed-fee options available, so you know what you are agreeing to before work starts. Get in touch with our team to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 applicable to the micro-entities regime. It sets out how a qualifying micro-entity prepares and presents its annual financial statements when it chooses to use that regime. Compared with fuller frameworks, it is intentionally simple: a smaller set of primary statements and far fewer disclosure notes, with measurement rules that avoid some of the more complex accounting treatments. It is a financial reporting framework, not a tax return and not a Companies House form.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. The regime is an available accounting framework, and the directors decide whether to apply it. A company that qualifies might still prepare its accounts under a different framework, for example if it wants to present more detailed information or if a lender, investor or group parent expects it. FRS 105 applies when the micro-entities regime is actually chosen.

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 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 size conditions is not the whole story, because other eligibility rules and exclusions can apply, and some companies are not able to use the micro-entities regime at all. Eligibility should be checked against your specific circumstances for each period.

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 105 is the micro-entities standard and is deliberately minimal, with simplified measurement and limited disclosure. FRS 102 is the broader standard used by many small and medium-sized companies, and it offers more accounting policy choices and requires considerably more disclosure. FRS 105 accounts give a concise picture of the business; FRS 102 accounts give a fuller one. Neither is inherently 'better' — the right answer depends on whether the company qualifies, what the directors want, and who needs to rely on the accounts.

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

Micro-entity accounts prepared under FRS 105 are used to produce the annual accounts that a company files at Companies House, and the same figures are normally used for the accounts presented to shareholders. Filing the accounts is a separate exercise from preparing them and from the company's other filings. Companies House does not review or approve the content of accounts in the way a regulator would; the directors remain responsible for what is filed and for making sure it meets the applicable requirements.

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

Yes, they are separate obligations. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime for the accounting period. A CT600 is the Corporation Tax Return submitted to HMRC and is based on the company's tax computations, with adjustments made to the accounting profit where the tax rules require it. The accounts feed into the tax return, but the two documents serve different purposes and go to different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime in the relevant period and its directors choose to apply it. Being new does not automatically mean the company is a micro-entity — the size conditions still have to be considered, and in the first period there can be practical points around the length of the accounting period and the figures available. Exclusions that apply to certain types of company also need to be checked. It is worth confirming the position before the first set of accounts is prepared.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank and cash account details, sales and purchase information, payroll or employee numbers, details of equipment and other assets bought or sold, loan balances, and any amounts owed to or from directors. Prior year accounts, your company registration details and a note of what has already been filed all help. If your records are incomplete, that is not a barrier to getting started — it simply means a bit of tidying up first. The more accurate the underlying information, the more reliable the resulting FRS 105 financial statements will be.