─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Hull

FRS 105 Micro Entity Accounts give qualifying Hull companies a simplified financial reporting framework designed specifically for the smallest businesses. FRS 105 is the UK financial reporting standard that applies when a company qualifies for, and chooses to apply, the micro-entities regime — meaning simpler financial statements, reduced disclosure requirements and a clearer picture of the company’s financial position. Whether you are a sole director trading locally in Hull or a small company operating across the wider region, professional preparation can help ensure your FRS 105 accounts are put together properly from your financial records and reflect your company’s particular circumstances. It is always worth remembering that the micro-entities regime is one option among several accounting regimes, not an automatic entitlement, so eligibility should be assessed carefully before you decide to apply FRS 105.

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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 
    
 
 
 
   
 
 
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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 .
  
 
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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.
  
 
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   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

FRS 105 Explained: What It Means for Qualifying Micro-Entities

In simple terms, FRS 105 is the accounting standard that sits behind the UK’s micro-entities regime. It was created so that the smallest companies can prepare financial statements without the level of detail and disclosure required by larger reporting frameworks. If a company qualifies as a micro-entity and decides to use that regime, FRS 105 is the standard it applies when preparing its annual accounts. That usually means a more streamlined balance sheet, profit and loss account and a small set of notes, rather than the fuller disclosures you would expect under a framework such as FRS 102. The key word here is choice: qualifying does not force a company to use FRS 105 — it is an available regime that a company can adopt if it suits its circumstances. For many small companies in Hull, that simplicity makes FRS 105 Micro Entity Accounts an attractive option, but it is worth checking that the regime is appropriate for your business before committing to it.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then decide to apply it. The regime is designed for the smallest companies, and eligibility is measured against size conditions rather than being granted automatically. 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Alongside those tests, there are other rules and exclusions that can affect whether a company is eligible — for example, certain types of entity or certain regulated activities may not be able to use the regime. This means that meeting the size thresholds alone does not guarantee eligibility, and it also does not oblige a company to adopt FRS 105. If your Hull company looks likely to qualify, the sensible approach is to review your position in detail, consider whether the micro-entities regime suits your reporting needs, and then confirm that FRS 105 Micro Entity Accounts are the right fit before preparing your financial statements.

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

Preparing FRS 105 Micro Entity Accounts properly starts with good bookkeeping and a clear understanding of the reporting requirements that apply to your company. We work from your financial records — bank transactions, sales and purchase information, payroll details, asset records and any other relevant documentation — to build a set of financial statements that reflects your trading activity and position in line with the FRS 105 framework. It is important to keep two separate obligations in mind. First, there is the preparation of the financial statements themselves, which for many companies is followed by filing statutory accounts with Companies House. Second, there is Corporation Tax, which is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC and supported by a tax computation. These are distinct tasks with distinct requirements, and we can help you understand how they fit together. What we cannot do is promise a particular outcome — filing and tax positions depend on the facts and on the applicable rules — but we can make sure your FRS 105 Micro Entity Accounts are prepared methodically, on time and with the care your business deserves.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts for your Hull company, the best next step is a straightforward conversation. Tell us about your business — how it trades, who owns it, what records you keep and what you need from your accounts — and we can assess whether the micro-entities regime is likely to suit your circumstances and explain what would be involved. It also helps to have your recent bookkeeping, bank statements, sales and expense records, payroll information and any asset details to hand, so we can see the full picture. There is no obligation and no pressure; just clear, practical guidance on your options and the information you need to make an informed decision about your FRS 105 Micro Entity Accounts.

─── 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, allowing qualifying companies to prepare accounts with a reduced level of disclosure compared to standards such as FRS 102. In practice, a company applying FRS 105 prepares a concise balance sheet, profit and loss account and a small number of notes, which keeps the reporting process proportionate to the size and complexity of a micro-entity.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it — the regime is optional. 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Other rules and exclusions can also affect eligibility, so meeting the size conditions alone does not automatically guarantee that a company can use the regime.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is one available accounting framework, not a mandatory one. A company that qualifies as a micro-entity can choose to apply FRS 105, or it can prepare its accounts under a different framework such as FRS 102. Some companies prefer the fuller disclosures of a larger framework — for example, if a lender, investor or group parent wants more detail. The right choice depends on your circumstances, and it is worth reviewing before each set of accounts is prepared.

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. FRS 105 is the micro-entities standard and offers the most streamlined reporting, with limited disclosures. FRS 102 is a broader framework used by small, medium and larger entities, and it generally requires more detailed notes and more extensive accounting judgements. If a company grows beyond the micro-entity thresholds, or if its stakeholders need fuller information, moving from FRS 105 to FRS 102 may become appropriate.

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

For most companies, statutory accounts must be filed with Companies House each year, and FRS 105 Micro Entity Accounts can form the basis of that filing where the regime applies. The accounts filed are based on the financial statements prepared for the company, though the version filed publicly may be simplified in line with the rules for small and micro-entity filings. Filing statutory accounts is separate from your Corporation Tax obligations, and the two should never be treated as the same task.

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

Yes, they are separate requirements. FRS 105 accounts deal with financial reporting — how your company's results and position are presented in its financial statements. The CT600 is a Corporation Tax Return submitted to HMRC to report your company's tax position, supported by a tax computation that starts from the accounts but adjusts for tax rules. Preparing one does not automatically complete the other, so both need to be dealt with, and it helps to plan for them together so the figures are consistent.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, provided it qualifies for the micro-entities regime and chooses to apply it. In the first period of trading, turnover and employee numbers may well be low, but eligibility still depends on the applicable rules and exclusions rather than on the age of the company alone. It is worth reviewing the position at the outset, because the framework you use in your first accounts can influence how you set up your bookkeeping and reporting.

What information is needed to prepare FRS 105 accounts?

As a starting point, we would usually need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase records, payroll information if you employ staff, details of any assets such as equipment or vehicles, loan and finance agreements, and any previous year's accounts. Directors' loan account movements and confirmation of share capital are also commonly relevant. Having these ready makes it easier to prepare accurate FRS 105 Micro Entity Accounts and to identify anything that needs to be clarified before the accounts are finalised.