─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Fulford

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime. If your company meets the relevant size conditions and the regime is right for you, FRS 105 financial statements can offer a simpler, more streamlined way to report your position — with reduced disclosure requirements compared to larger reporting frameworks. Professional preparation helps ensure your accounts are built from accurate bookkeeping records and presented appropriately for your company’s specific circumstances, including its trading activity, asset base and any transactions that need particular care. Because eligibility depends on more than turnover alone, and because the micro-entities regime is a choice rather than an automatic entitlement, it is worth reviewing your position before each accounting period. Our approach to FRS 105 Micro Entity Accounts in Fulford focuses on getting the fundamentals right: clean records, sensible judgements and financial statements that reflect what has actually happened in the business.

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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.
  
 
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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
  
 
      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.
  
 
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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 Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is an accounting regime available to companies that fall within certain size limits. Where a qualifying company chooses to use that regime, FRS 105 is the standard it applies when preparing its annual financial statements. In simple terms, FRS 105 keeps things lean. It is built around a straightforward, historical cost approach and requires far less note disclosure than FRS 102, which is the framework most other small companies use. The trade-off is that FRS 105 statements are prepared on a simplified basis, so the numbers can look different from accounts produced under a fuller framework — for example in areas such as revaluations, certain financial instruments and deferred tax. For many small, owner-managed companies, that simplicity is exactly the point: the accounts do the job they need to do without unnecessary complexity. It is important to remember two things. First, using the micro-entities regime is a choice — a qualifying company can decide to apply it or to report under a different framework. Second, FRS 105 applies only when that regime is used. Our role with FRS 105 Micro Entity Accounts in Fulford is to explain what the framework means in practice for your business, so you can make that choice with a clear view of the implications.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — it is not available simply because a company is small in the everyday sense of the word. Qualification is a matter of size, tested against the applicable conditions. For accounting periods beginning on or after 6 April 2025, a company generally needs 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. Meeting those size conditions does not, by itself, guarantee eligibility. Other rules and exclusions can apply, and certain companies may be excluded from the regime regardless of their size. On top of that, the regime is optional: even a qualifying company can decide to report under a different framework. If you are weighing up whether FRS 105 Micro Entity Accounts in Fulford are the right fit, the sensible starting point is a review of your figures and your circumstances, so the decision is made on facts rather than assumptions.

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 and Accurate Financial Reporting

Well-prepared FRS 105 accounts start with well-kept records. We work from your bookkeeping, bank records, invoices, receipts, payroll information and any asset or loan documentation to build a set of financial statements that reflects your company’s actual position for the period. Where an item needs a judgement — how a cost is treated, how a balance is classified, whether something belongs in the period at all — that judgement is discussed with you and applied consistently, so the accounts hold together and can be explained. It is worth being clear about the different pieces of the puzzle. Preparing FRS 105 financial statements is an accounting exercise. Filing those accounts with Companies House is a separate statutory step, and a Corporation Tax Return (CT600) is a different filing again, submitted to HMRC. Each has its own requirements, its own information and its own deadline, and a strong set of accounts makes the tax side far easier to deal with accurately. We prepare FRS 105 Micro Entity Accounts in Fulford on the basis of the records and information provided, applying the applicable reporting requirements to the circumstances as they are understood. That is a commitment to care, consistency and clarity — not a promise of any particular filing outcome, and not a claim of approval by any external body.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you are unsure whether the micro-entities regime suits your company, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, get in touch for a no-obligation conversation about where you stand. It helps to have a few things to hand: your latest accounts or management figures, details of your bookkeeping system, any relevant loan, lease or asset paperwork, and a note of anything unusual that happened during the period. From there we can look at your eligibility position, explain the practical differences between FRS 105 and other frameworks, and set out clear, transparent pricing for the work involved. Whether you are a long-established Fulford company or a newer limited company working out which reporting framework fits, we are happy to talk it through and help you decide what makes sense for your business.

─── 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 is the standard you apply when your company qualifies for the micro-entities regime and chooses to use it. It is designed to be straightforward, using a simpler measurement basis and requiring much less disclosure in the notes than FRS 102, which is the framework most other small companies follow.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to apply it. Qualification is based on size conditions rather than on the type of business you run, and other eligibility rules and exclusions can also apply — so meeting the size tests is not, on its own, a guarantee that the regime is available to your company. It is worth checking your specific position, particularly if your company has unusual transactions, is part of a group, or sits in a regulated sector.

What are the 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 during the period. In practice this means two out of the three, not all three. Separate rules and exclusions can affect whether the regime is actually available, so the size tests should be considered alongside your company's particular circumstances.

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 can choose to apply it — and where it does, FRS 105 is the standard used to prepare the financial statements. A qualifying company may instead decide to report under another framework, depending on its circumstances and what its owners or lenders need from the accounts.

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 and offer different levels of detail. FRS 105 is the simpler of the two, built around a streamlined measurement basis with minimal note disclosure. FRS 102 permits more accounting options and requires significantly more disclosure, which can produce a fuller picture but also more work. The framework you use can affect how certain balances and transactions appear in your accounts, so switching between them is a decision worth taking advice on.

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

Preparing a set of FRS 105 financial statements and filing accounts with Companies House are two distinct steps. Where a company is required to file accounts, the micro-entity financial statements are what get filed — but the filing obligation itself comes from company law rather than from FRS 105, and the applicable deadlines and requirements depend on your company's situation. We can handle both the preparation and the filing side, and explain what is needed from you along the way.

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

Yes, they are separate. FRS 105 financial statements are the company's annual accounts, prepared under the micro-entities regime where it applies. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position for the period. The two are closely related — the accounts usually provide the starting point for the tax computation — but they are different documents with different purposes, different information requirements and different submission routes.

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. First-period accounts can be a little more involved because the accounting period may be longer than twelve months and there is no prior-year comparative to work from, so it is sensible to plan the year-end early. If you are not yet sure which framework will suit you, the position can be reviewed as the year progresses.