─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Danby Wiske

If your company is based in or around Danby Wiske and you believe it may qualify for the UK micro-entities regime, FRS 105 Micro Entity Accounts could be the right reporting framework for you. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to prepare its accounts under the micro-entities regime, and it is designed to keep financial statements straightforward, proportionate and focused on the information that matters most for a small company. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together properly from your bookkeeping and financial records, with the figures presented in line with the requirements of the standard and the disclosures kept appropriate to your circumstances. It is important to be clear that applying FRS 105 is a choice available to qualifying micro-entities rather than something that happens automatically — eligibility depends on the size conditions and the wider rules and exclusions, so the starting point is always a proper look at your company’s position. Whether you are preparing accounts for the first time, moving across from a different framework, or simply want your FRS 105 Micro Entity Accounts handled with care, the aim is accurate, well-presented financial statements that reflect how your business has actually performed.

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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: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for companies that qualify as micro-entities and choose to apply the micro-entities regime. In plain terms, it is a simplified accounting framework: it allows qualifying companies to prepare financial statements with a more streamlined approach than the larger reporting standards, which suits owner-managed businesses that need clear, compliant accounts without unnecessary complexity. Under FRS 105, accounts are still prepared on the basis of the company’s records and still include the core statements a reader would expect — a balance sheet, a profit and loss account and supporting notes where required — but the measurement and disclosure requirements are deliberately pared back compared with fuller frameworks. Crucially, FRS 105 is not automatic and it is not compulsory. The micro-entities regime is an available option, and FRS 105 is the standard that applies when a qualifying company elects to use it. If a company does not qualify, or prefers a different framework, it would typically report under FRS 102 or another applicable standard instead. For a company in Danby Wiske weighing up its options, the sensible approach is to confirm eligibility first, then decide whether the micro-entities regime genuinely fits the way the business is structured, financed and reported on.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Two things therefore have to line up: the company must fall within the regime, and it must actually elect to use it rather than another framework. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Even where those figures are comfortably within the limits, that alone does not guarantee eligibility. Other eligibility rules and exclusions can apply depending on the type of entity, what it does and how it is structured, and some companies are excluded from the micro-entities regime entirely. That is why eligibility is best confirmed by reviewing the company’s specific position, including its legal form, its activities and its reporting history, rather than by comparing a few numbers against the thresholds. For a company in or near Danby Wiske, this assessment is the natural first step before any decision is made about preparing FRS 105 Micro Entity Accounts.

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 Accounts with Accurate Financial Reporting

Well-prepared FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank information, sales and expense records, asset details and any relevant supporting documents to build financial statements that properly reflect your company’s position and performance under the micro-entities regime. The emphasis is on accuracy and consistency: making sure the figures agree to your records, that the accounting policies used are suitable for a micro-entity applying FRS 105, and that the presentation and disclosures meet the requirements of the standard. It is worth keeping the different filing obligations clearly separated in your mind. FRS 105 Micro Entity Accounts relate to the accounting and financial reporting framework and to the statutory accounts prepared for the company; filing those accounts with Companies House is a distinct step in the annual cycle. A Corporation Tax Return (CT600) is separate again — that is a tax filing submitted to HMRC, not an accounting framework, and it is prepared on tax rules rather than FRS 105 presentation rules. Confirmation Statements are also separate, dealing with the register of company information rather than the financial statements. Having your FRS 105 Micro Entity Accounts prepared professionally helps you approach the whole process with a clear picture of what is being prepared, why it is being prepared that way, and which obligations sit where — based on the information you provide and the reporting requirements that apply to your company.

ICAEW

ACCA

AAT

Need Help with Your FRS 105 Micro Entity Accounts in Danby Wiske?

If you would like your FRS 105 Micro Entity Accounts prepared properly and with a clear explanation of what is involved, get in touch to talk through your requirements. Tell us about your company — its trading activity, how it is structured, whether you have reported under the micro-entities regime before, and roughly what your turnover, balance sheet total and employee numbers look like. Share your bookkeeping records, bank statements, details of any assets and liabilities, and any previous accounts or filings, and we can assess whether FRS 105 Micro Entity Accounts appear suitable for your circumstances and what would be needed to move forward. There is no obligation, and no assumptions are made: eligibility and suitability are looked at on your company’s own facts.

─── 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 companies that qualify as micro-entities and choose to apply the micro-entities regime. It is a simplified framework, allowing qualifying companies to prepare financial statements with reduced measurement and disclosure requirements compared with fuller standards such as FRS 102. The accounts still reflect the company's real financial position and performance, but the reporting is kept proportionate to the size and complexity of a micro-entity.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one, and FRS 105 applies when a qualifying company chooses to apply that regime. A company that qualifies as a micro-entity can still elect to report under a different framework, such as FRS 102, or may be required to do so because of its circumstances. The choice should be made deliberately, with the company's structure, financing and reporting needs in mind.

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 the size conditions alone does not automatically confirm eligibility, because other rules and exclusions can apply depending on the type of company and its activities. Eligibility should therefore be checked against the full requirements rather than the thresholds in isolation.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in complexity. FRS 105 is the lighter framework available to qualifying micro-entities that choose the micro-entities regime, with simplified measurement and fewer disclosure requirements. FRS 102 is the fuller standard, used by a much wider range of companies, and it typically involves more detailed accounting treatments and disclosures. A company that does not qualify for the micro-entities regime, or that opts not to use it, would normally look to FRS 102 or another applicable framework.

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

The statutory accounts prepared under FRS 105 are the company's annual accounts, and filing those accounts with Companies House is a separate step in the annual compliance cycle from preparing them. What can be filed, and in what format, depends on the filing requirements in force at the time and on the company's own position. Preparing the accounts and submitting them are distinct tasks, and it helps to treat them as such so nothing is overlooked.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are prepared under the accounting and financial reporting framework for qualifying companies using the micro-entities regime. A CT600 is a Corporation Tax Return submitted to HMRC and is calculated on tax rules, which can differ from the figures presented in the accounts. Confirmation Statements are separate again, as they relate to the company register rather than the financial statements. Keeping these obligations distinct makes the annual cycle much easier to manage.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but it still has to qualify as a micro-entity and choose to apply the micro-entities regime. In the first period, the size conditions are assessed on the company's own figures and the applicable rules, and there may be considerations around a first accounting period that is longer or shorter than twelve months. Because eligibility is not automatic, it is worth confirming the position before deciding which framework to report under.

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

Typically you would provide your bookkeeping records or accounting software data, bank statements, sales and purchase information, details of any fixed assets and how they were funded, amounts owed to and by the company, and records of any loans, director's transactions or share capital. Previous accounts, if any, are also helpful as a starting point. With that information, the figures can be reviewed and the financial statements prepared in line with the requirements of FRS 105 for your company's circumstances.

What changes are coming to micro-entity accounts filing?

Reporting requirements for small and micro-entity companies do change from time to time, including around how accounts are prepared and filed, and the thresholds used to assess eligibility have themselves been updated for accounting periods beginning on or after 6 April 2025. Because the rules are subject to amendment and to transitional arrangements, the most reliable approach is to check the requirements that apply to your specific accounting period and company before preparing or filing anything.