─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Halewood

FRS 105 Micro Entity Accounts in Halewood are the financial statements prepared under the reporting framework that applies when a qualifying company chooses to use the UK micro-entities regime. FRS 105 sets out how the balance sheet, profit and loss account and supporting notes should be presented, using a simplified and largely historical cost-based approach with substantially reduced disclosure requirements. It is not an automatic entitlement: a company needs to satisfy the relevant size conditions, and other eligibility rules and exclusions can apply, so the framework should be confirmed before it is adopted. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are built from your actual financial records, are presented consistently with the standard, and are ready for the separate filing and tax steps that follow.

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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 and What It Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies that qualify for, and choose to apply, the micro-entities regime. In simple terms, it gives qualifying companies a shorter, simpler set of financial statements, with far fewer notes than a larger company would produce and with figures generally kept at historical cost rather than being revalued or restated at fair value. It sits alongside the UK’s other reporting standards, most notably FRS 102, which offers more accounting options but also demands more disclosure and more work. Applying the micro-entities regime is a choice, not a requirement: an eligible company can decide that FRS 105 suits its circumstances, or it can report under a different framework. When that choice is made, FRS 105 is the framework that governs the accounts, which is why eligibility should be reviewed carefully before the year end rather than assumed.

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. 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 does not automatically mean the regime is available or appropriate. Other eligibility rules and exclusions can apply — for example, certain types of business and certain group structures are excluded, and a company that was previously ineligible may need to consider how any transition rules affect it. Companies also remain free to report under a different framework even where they could use FRS 105. For a company in Halewood, the practical route is to review the size conditions, check for exclusions, and confirm the position before deciding whether FRS 105 Micro Entity Accounts are the right basis for the year.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly means applying the standard’s recognition, measurement and disclosure requirements to your particular figures, rather than simply filling in a template. We work from the records you provide — bookkeeping, bank and payment records, sales and purchase information, payroll details and asset records — to build a balance sheet and profit and loss account that reflect what actually happened in the period, supported by the limited notes FRS 105 requires. The financial statements used for Companies House filing are a separate matter from your Corporation Tax position: a CT600 is a Corporation Tax return submitted to HMRC, calculated on taxable profits using tax rules that can differ from the accounting treatment in your accounts. We can handle the preparation of your FRS 105 Micro Entity Accounts and the tax work as distinct pieces of work, so it is clear what has been done, on what basis, and what still needs to be filed. Companies House and HMRC do not approve or endorse accounts, and no preparation service can guarantee a particular filing outcome.

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Get Help With Your FRS 105 Micro Entity Accounts in Halewood

If you run a small company in Halewood and want to know whether the micro-entities regime is right for you, we can talk it through and look at your circumstances in detail. Tell us about your company, your accounting period, your typical turnover and balance sheet totals, your employee numbers and any features of the business that might affect eligibility, and share your records so we can assess how your FRS 105 Micro Entity Accounts should be prepared. We will explain what information we need, what the preparation involves, where your financial statements sit alongside your other filing and tax obligations, and how our pricing works. Get in touch 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 that applies to micro-entities. It is a simplified framework: the accounts are prepared largely on a historical cost basis, revaluation and fair value accounting are not used, and the number of disclosures is kept to a minimum. It exists so that the smallest qualifying companies can produce financial statements that give the information their readers need without the volume of notes and accounting options found in larger-company reporting frameworks.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualification depends on meeting the relevant size conditions and on no other eligibility rules or exclusions preventing use of the regime. It is a framework a qualifying company adopts, not one that is imposed on it.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional. A company that qualifies may choose to apply it and prepare accounts under FRS 105, or it may decide that another framework better suits its circumstances — for example FRS 102, which allows more accounting options but requires more disclosure. Once a framework is chosen, it should be applied consistently, and any change of framework should be considered carefully.

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 picture — other rules and exclusions can apply, and eligibility can be affected by the nature of the business or its position within a group. It is worth confirming your position before adopting the regime.

What is the difference between FRS 105 and FRS 102?

Both are UK reporting frameworks, but they sit at different levels of complexity. FRS 105 is the most streamlined option, with historical cost accounting, no revaluations or fair value measurements, and very limited notes. FRS 102 allows more accounting choices — including, in some circumstances, fair value and revaluation — but requires more disclosures and more detailed work. A company that holds investment property, wants to revalue assets, or has more complex transactions may find FRS 102 a better fit.

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

The financial statements are the accounting output of the company and are filed at Companies House in line with the company's filing obligations, using the format available for micro-entity accounts. Companies House places filed accounts on the public register; it does not approve, endorse or review the accounting judgements behind them.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, while a CT600 is a Corporation Tax return submitted to HMRC. The tax return starts from the company's profit figures but applies tax rules — such as capital allowances and the treatment of disallowable expenses — that can differ from the accounting treatment, so one does not replace the other.

What information is needed to prepare FRS 105 accounts?

In practice we need your bookkeeping or accounting records for the period, bank and payment records, sales and purchase information, payroll and employee details, records of assets bought or sold, details of any loans, and the opening balances or prior year accounts where relevant. Share capital details and information on dividends or other transactions with directors are also useful. The cleaner and more complete the records, the more straightforward the preparation tends to be.