─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Holmes Chapel

FRS 105 provides the financial reporting framework for companies that qualify as micro-entities and choose to apply the UK micro-entities regime. If that regime is the right fit for your business, FRS 105 sets out how the accounts should be prepared, from the balance sheet through to the notes. At Micro Entity Accounts, we prepare FRS 105 Micro Entity Accounts for companies in Holmes Chapel and the surrounding area, working from your financial records to build a set of accounts that reflects your circumstances and the reporting requirements that apply to you. Eligibility depends on the size and nature of your company, so part of the process is confirming whether the micro-entities regime is available to you before any accounts are prepared.

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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 300 reviews 
    
 
 
 
   
 
 
       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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

What Is FRS 105? The Micro-Entities Regime Explained for Holmes Chapel Companies

FRS 105, formally the Financial Reporting Standard applicable to the Micro-entities Regime, is the UK accounting standard used by companies that qualify as micro-entities and choose to apply that regime. It is a deliberately streamlined framework: it sits alongside the small companies regime and is designed so that qualifying companies can prepare their financial statements with simpler measurement requirements and far fewer disclosures than larger frameworks demand. In practice, FRS 105 financial statements usually consist of a balance sheet, a profit and loss account and a short set of notes, with the profit and loss account not normally filed at Companies House. FRS 105 is not a tax return and not a substitute for one; it is the accounting framework behind your financial statements. Whether it suits your company depends on your size and circumstances, and the decision to apply the micro-entities regime is made by the company itself.

Who Can Use FRS 105 in the UK? Eligibility for Holmes Chapel Micro-Entities

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 the following 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 during the period. Those size tests are the starting point rather than the whole story. Other eligibility rules and exclusions apply, certain types of company cannot use the regime regardless of their size, and specific circumstances can affect whether it is available. Meeting the thresholds on their own therefore does not guarantee that FRS 105 is available or appropriate. For companies in Holmes Chapel, we look at the position as a whole before suggesting an approach.

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.

Professional Preparation of FRS 105 Micro Entity Accounts and Accurate Financial Reporting

FRS 105 Micro Entity Accounts should be built from accurate financial records and prepared in line with the reporting requirements that apply to your company. We work through your bookkeeping, trial balance and supporting information to prepare financial statements that reflect the transactions and balances of the period and that are consistent with how the micro-entities regime applies to you. Preparing the accounts and filing them at Companies House is one part of the picture, and it sits separately from your Corporation Tax position. Where you also need a Corporation Tax Return (CT600) or a Confirmation Statement, those are distinct filings with their own requirements and their own deadlines. We can talk through how your FRS 105 accounts and these other obligations fit together so that nothing is overlooked.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Holmes Chapel

If you would like your FRS 105 Micro Entity Accounts prepared properly and on a sound footing, get in touch and tell us about your company. Let us know the accounting period involved, what your records look like at the moment, and whether you have already decided to apply the micro-entities regime. From there we can assess whether FRS 105 is likely to be available and appropriate for your circumstances, and explain what we would need from you to get started. There is no obligation, and a short conversation is usually enough to establish where you stand and what the sensible next step looks like.

─── 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 accounting framework that qualifying micro-entities can use to prepare their financial statements, which typically comprise a balance sheet, a profit and loss account and a short set of notes. It sets out how items are recognised and measured and what needs to be disclosed. It is an accounting standard rather than a tax rule, so it sits separately from your Corporation Tax obligations.

Who can use FRS 105?

It is available to companies that qualify as micro-entities and choose to apply the micro-entities regime. 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. Other eligibility rules and exclusions can apply, so meeting the size conditions does not automatically mean the regime is available to your company.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying as a micro-entity does not mean you have to use the micro-entities regime. It is an available accounting regime, and FRS 105 applies when that regime is chosen. Some qualifying companies prefer to remain on FRS 102, for example because of how they report to lenders, investors or a parent company, or because of the way their figures need to be presented. The choice is the company's, and it should be made with your circumstances in mind.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but FRS 105 is the more streamlined of the two. It is restricted to qualifying micro-entities and involves simpler measurement and far fewer disclosure requirements. FRS 102 is used by a much wider range of companies and contains more detailed recognition, measurement and disclosure rules. In broad terms, FRS 105 keeps the financial statements lean, while FRS 102 provides a fuller framework for companies that need or prefer it.

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

Micro-entity accounts are normally filed with Companies House as part of your company's annual accounts filing. What is filed can differ from the full set prepared for the company itself; for example, a micro-entity's profit and loss account is not normally filed. The filing deadline depends on your accounting reference date and whether it is a first set of accounts, and filing late can lead to penalties, so it is worth planning the work well ahead of the due date.

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

Yes. FRS 105 is an accounting and financial reporting framework, and it produces the company's financial statements. A CT600 is a Corporation Tax filing submitted to HMRC, based on the company's taxable profits and the necessary tax adjustments. The two are connected, because the figures in your accounts usually feed into the tax computation, but they are separate documents prepared to different rules and filed with different bodies.

What information is needed to prepare FRS 105 accounts?

In most cases we need your accounting records for the period, a trial balance, bank statements and reconciliations, details of fixed assets and any loans, leases or hire purchase agreements, stock or work in progress figures where relevant, and information on transactions with directors or related parties. If you are moving from another accountant, the prior year accounts and professional clearance are also helpful. The more complete your records, the more straightforward the preparation tends to be.

What changes are coming to micro-entity accounts filing?

Companies House has been moving towards digital, software-based filing of accounts, and small and micro-entity accounts are part of that shift. Rather than attaching a set of accounts to a filing, accounts will increasingly need to be submitted in a structured, tagged format through compatible software so the figures can be processed automatically. The detailed requirements and timings have been developed through consultation and can change, so it is sensible to confirm the current position before your next filing date. Keeping your FRS 105 accounts in good order and in software-friendly form makes any transition easier.