─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Garforth

FRS 105 Micro Entity Accounts are the statutory financial statements produced under the micro-entities regime, and they give qualifying companies in Garforth a simpler, more proportionate way to report their financial position. FRS 105 provides the financial reporting framework that applies when a qualifying company chooses to apply the micro-entities regime, using a straightforward historical cost basis and reduced disclosure requirements compared with larger reporting standards. Choosing the regime is a decision for the directors, and it is not automatic — a company needs to qualify and then elect to apply it. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are built from your actual financial records, reflect the company’s circumstances, and are presented in a format suitable for filing at Companies House, with Corporation Tax handled as a separate matter through HMRC.

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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 for Garforth Companies

In simple terms, FRS 105 is the UK financial reporting standard for micro-entities. It sits alongside the micro-entities regime, which is a set of lighter accounting rules available to the smallest qualifying companies. If a company qualifies for that regime and its directors decide to use it, FRS 105 is the standard that governs how the accounts are put together. The result is a set of financial statements that is shorter and more straightforward than accounts prepared under FRS 102, usually based on historical cost, with fewer notes and no revaluation or fair value adjustments. For many owner-managed businesses in Garforth, this keeps reporting proportionate while still producing formal accounts that show the company’s balance sheet position and the supporting disclosures required. Importantly, the micro-entities regime is an option rather than an obligation, and not every small company will qualify for it.

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. 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 figures are the starting point rather than the whole test. The micro-entities regime has its own eligibility rules and exclusions — for example, public companies and certain entities in the financial services sector cannot use it, and there are additional considerations for companies within a group or with unusual activities. Meeting the size thresholds alone does not guarantee eligibility, and eligibility can change from one accounting period to the next, so the position should be reviewed before the accounts are prepared.

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

Preparing FRS 105 Micro Entity Accounts is about more than entering figures into a template. It starts with your bookkeeping and financial records — bank transactions, sales invoices, purchase receipts, payroll details, asset purchases, loans and stock — and turns them into a balance sheet and the disclosures required under FRS 105. We work through the recognition and measurement points that matter for your company, consider whether the micro-entities regime remains appropriate for the period, and prepare the financial statements in a form suitable for filing at Companies House. Filing statutory accounts and dealing with Corporation Tax are separate exercises: the accounts go to Companies House, while the Corporation Tax Return (CT600) is submitted to HMRC. We can help with both, and we will always explain the basis on which the accounts have been prepared so you understand what has been filed and why.

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Let's Talk About Your FRS 105 Micro Entity Accounts in Garforth

If your company may qualify for the micro-entities regime, or you would like a second pair of eyes on accounts already prepared, we would be glad to help. Tell us about your business, your accounting period and how your records are currently kept, and we can talk through what your FRS 105 Micro Entity Accounts need to include and whether the regime looks suitable for your circumstances. We will explain what information we need from you, how the preparation process works, and how the accounts sit alongside your other obligations, such as Corporation Tax and your Confirmation Statement. Get in touch to discuss your requirements and take the next step with clear, practical guidance.

─── 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 micro-entities. It sets out how micro-entity financial statements are recognised, measured and disclosed, and it is deliberately simpler than FRS 102 — for example, it works on a historical cost basis and requires far fewer notes. When a qualifying company chooses to apply the micro-entities regime, FRS 105 is the standard used to prepare its statutory accounts. Those accounts are presumed to give a true and fair view of the company's financial position, provided the standard is applied properly.

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 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 tests is not the whole story — other eligibility rules and exclusions apply, and some companies, such as public companies and certain financial services entities, cannot use the regime at all. We can check your position before any work begins.

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 still choose to prepare its accounts under FRS 102, for instance if it wants to present items such as revaluations or fair value information that FRS 105 does not permit. What matters is that the choice is made deliberately and applied consistently. Many owner-managed companies prefer FRS 105 because the reporting is leaner, but it should be a considered decision rather than a default.

What is the difference between FRS 105 and FRS 102?

Both sit under UK GAAP, but FRS 105 is the micro-entity standard and FRS 102 is the standard for small and larger entities. FRS 105 is more restrictive: it is built on historical cost, so revaluation and fair value adjustments are not available, deferred tax is not recognised, and disclosure requirements are considerably reduced. FRS 102 offers more accounting options and requires more notes and explanatory detail. In short, FRS 105 gives you simpler accounts at the cost of flexibility, while FRS 102 gives you greater choice with more reporting.

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

Yes — a company's statutory accounts, including micro-entity accounts, are normally filed at Companies House, and the micro-entity filing option can be used when the company qualifies and has prepared its accounts on that basis. This is separate from anything sent to HMRC. Filing practice is changing: Companies House has been moving towards software-only filing of accounts, and reforms are planned that would require small and micro-entity companies to file a profit and loss account as well as the balance sheet. We can keep you informed about what applies to your filing.

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

Yes, they are two different things with two different audiences. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The accounts usually provide the starting point for the tax computation, but the CT600 is a separate document with its own deadline set by HMRC, so it is worth keeping the two processes clearly separated in your diary.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first accounting period if it qualifies for the micro-entities regime, chooses to apply it, and is not caught by any exclusion. One point to watch is the length of the first period: where it is longer or shorter than a year, the turnover threshold is adjusted proportionately for the purposes of the size test. It is worth reviewing eligibility at the start of each period, because a growing company can move out of the regime and may then need to prepare accounts under a different standard.

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

We normally start with complete records for the accounting period: bank and credit card statements, sales invoices and receipts, supplier bills, payroll information, details of loans and hire purchase agreements, and records of any assets bought or sold. Stock or work in progress figures, and any amounts owed to or by the company at the period end, are also useful. The cleaner the records, the smoother the preparation process. If your bookkeeping is behind, we can talk through what needs tidying up first, and we will confirm exactly what we need once we understand your circumstances.