─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Grimsby

FRS 105 Micro Entity Accounts are the financial statements prepared under the UK micro-entities regime — a simplified accounting framework designed for qualifying companies that choose to apply it. If your company may qualify, professional preparation helps ensure the accounts are put together appropriately for your circumstances, reflecting your actual financial records, the applicable reporting requirements and the disclosures the framework expects. Our support covers FRS 105 accounts preparation for Grimsby companies, working from your bookkeeping and records, and can extend to preparing the financial statements for filing at Companies House, with Corporation Tax obligations handled as a separate exercise. Because eligibility depends on more than a quick look at your turnover, we start by reviewing your circumstances rather than assuming the micro-entities regime applies to you.

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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
  
 
      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
  
 
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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 Reporting Framework Made Simple

FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime. In plain terms, it is a simplified accounting framework: qualifying companies that choose to apply the micro-entities regime use FRS 105 to prepare their annual financial statements, and it is FRS 105 that applies whenever that regime is used. Compared with larger frameworks, FRS 105 keeps things lean — fewer disclosure notes, simpler presentation and accounting generally based on historical cost. It is not the same as a Corporation Tax Return (CT600), and it is not the same as a Confirmation Statement; those are separate filings with HMRC and Companies House respectively. FRS 105 Micro Entity Accounts are about how the company’s results and position are reported, which is why understanding the framework matters before the accounts are drafted for a Grimsby-based company.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is aimed at UK companies that qualify for the micro-entities regime and decide to apply it — qualification makes the regime available, but it is the company’s choice to use it. Size is the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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 during the period. Meeting those size conditions on its own is not the whole story, however. Other eligibility rules and exclusions can apply — for instance in relation to certain regulated activities and group structures — so a Grimsby company should have its specific circumstances checked before assuming FRS 105 Micro Entity Accounts are the right route. Where the regime does apply and is chosen, FRS 105 governs how the financial statements 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 for Grimsby Companies

Preparing FRS 105 Micro Entity Accounts starts with your financial records — sales, costs, expenses, assets, liabilities, and the supporting paperwork behind them. From there, the accounts are drafted in line with the applicable reporting requirements for the micro-entities regime, including the simplified presentation and disclosure expectations that go with FRS 105. The output is a set of financial statements prepared for the company’s circumstances, which can then be filed with Companies House where the rules require it. Corporation Tax is a separate matter: a CT600 is submitted to HMRC and is not the same filing as the accounts lodged at Companies House. We cannot promise that any filing will be accepted automatically or that every set of accounts will be identical in shape, because the content depends on the transactions, records and judgements involved — but the aim is accurate, appropriately prepared financial statements you can stand behind.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Grimsby

If you think your company may qualify for the micro-entities regime and want your FRS 105 Micro Entity Accounts prepared properly, get in touch and let’s talk through your requirements. It helps to have your latest bookkeeping or accounting records, a note of any significant purchases or asset movements, details of any loans or director transactions, and an idea of when your accounts are due. From that starting point we can assess whether the micro-entities regime looks appropriate for your circumstances, explain what is involved in preparing FRS 105 financial statements, and set out clear, transparent pricing for the work. There is no obligation — the first step is simply a conversation about where your Grimsby company stands.

─── 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 companies using the micro-entities regime. It is a simplified framework, with a shorter presentation and fewer disclosure notes than frameworks used by larger companies. If a qualifying company chooses to apply the micro-entities regime, FRS 105 is the standard used to prepare its annual financial statements — which is why the terms FRS 105 accounts and micro-entity accounts are often used side by side.

Who can use FRS 105?

FRS 105 is intended for companies that qualify under the micro-entities regime and then choose to apply it. The regime is optional rather than automatic. 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. On top of the size tests, other rules and exclusions can apply — for example around certain regulated activities or group structures — so meeting the thresholds alone does not automatically make a company eligible.

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 a different framework, such as FRS 102 Section 1A. The choice can affect the level of disclosure and the way figures are presented, so it is worth considering your circumstances, and any requirements imposed by lenders, customers or investors, before deciding.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes and levels of complexity. FRS 105 is the micro-entities framework: simpler presentation, fewer disclosures and accounting generally based on historical cost. FRS 102 is the wider framework used by small and larger entities, and it offers more accounting options alongside more extensive disclosure requirements. Choosing between them is largely about whether the micro-entities regime applies to your company and whether applying it suits how your business needs to report.

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

Where a company is required to file annual accounts, those accounts generally need to be sent to Companies House, and a company using the micro-entities regime files accounts prepared under FRS 105. Filing the accounts is a separate act from preparing them, and it is also separate from filing a Confirmation Statement, which deals with company information rather than financial results. We can support both the preparation of the accounts and getting them ready for the filing that applies to your company.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the accounting framework. A CT600 is a Corporation Tax Return submitted to HMRC, and it is a different document with a different purpose and a different recipient. Information from the accounts typically feeds into the tax return, but preparing and filing one does not replace the other, and the two need to be handled as distinct pieces of work.

Can a new limited company use FRS 105?

A newly incorporated company is judged against the same eligibility framework as any other — there is no special category for new companies. In practice, a company with little or no trading history may well fall within the size thresholds, but it still needs to meet the relevant conditions and not be caught by any of the exclusions. Whether FRS 105 is the right choice for a first set of accounts is something to decide with the numbers in front of you.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and expenses, a list of assets acquired or disposed of, information on loans, director's current account movements and any amounts owed to or by the company, plus details of share capital and any dividends paid. If you already have draft figures or previous accounts, those help as a starting point. The clearer the records, the more straightforward the preparation of FRS 105 financial statements tends to be.