─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Hyde

FRS 105 Micro Entity Accounts in Hyde are prepared for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 is the financial reporting framework used by qualifying micro-entities, and it shapes how the balance sheet, the notes and the limited disclosures are presented in the company’s annual financial statements. Whether you run a sole director consultancy, a family-owned trading company or a small limited company with a handful of employees, professional preparation helps ensure your accounts are built from your financial records and presented in line with the framework that applies to your circumstances. Eligibility is not automatic — a company must meet the relevant size conditions and satisfy any other applicable rules, and some companies are excluded regardless of size — so a careful review of your position is a sensible first step before the accounts are prepared and the required filings are made.

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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 the Micro-Entities Regime Means for Your Company

In simple terms, FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime. It is designed for very small companies and sets out a straightforward way of preparing financial statements: accounts are generally kept on a historical cost basis, with fewer measurement options and a much shorter set of notes than larger frameworks require. Qualifying companies are not forced into it — they can choose whether to apply the micro-entities regime, and FRS 105 applies when that regime is chosen. For a director in Hyde, the practical effect is usually a simpler, shorter set of accounts that still reports the company’s assets, liabilities and financial position properly. The standard also affects what is included alongside the balance sheet, so it is worth understanding the framework before the accounts are prepared rather than after.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size, and 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, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those size thresholds is not, on its own, a guarantee of eligibility — other rules and exclusions can apply, and certain entities are prevented from using the regime whatever their size. Companies in Hyde therefore benefit from having their position reviewed against the current criteria and any relevant exclusions before deciding whether to prepare FRS 105 Micro Entity Accounts, or to use an alternative framework instead.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with the company’s own financial records — bank transactions, sales and purchase information, payroll data, asset details and any liabilities — which are reviewed and turned into a set of statutory financial statements under the micro-entities regime. That work covers the balance sheet, the notes and disclosures the framework requires, and the figures that support them. Where a company is required to file annual accounts, the FRS 105 Micro Entity Accounts form the basis of what is delivered to Companies House, and that filing is a separate exercise from the company’s Corporation Tax obligations, including the Corporation Tax Return (CT600) submitted to HMRC. Professional preparation is about accuracy, consistency with your records and a clear paper trail — not a guarantee of any particular outcome, and not an endorsement by any authority.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Hyde

If you would like support with your FRS 105 Micro Entity Accounts in Hyde, the next step is a straightforward conversation about your company. Tell us about your trading activity, how your records are kept, whether you currently apply the micro-entities regime, and what you need the accounts for — whether that is an internal review, a lender or landlord request, or an annual filing. Sharing your accounting records, previous accounts and any relevant correspondence gives us the information needed to assess your circumstances and explain how your FRS 105 Micro Entity Accounts can be prepared. We will talk you through the framework, the choices available to qualifying companies and the separate filings that may be needed.

─── 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 the micro-entities regime. It sets out a simplified framework for preparing financial statements: accounts are generally prepared on a historical cost basis, certain accounting options such as fair value accounting and revaluation are not available, and the disclosures required are far fewer than under larger-company standards. It applies when a company qualifies as a micro-entity and chooses to apply the micro-entities regime, and it determines how the balance sheet, notes and supporting disclosures are presented in the statutory accounts.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK size criteria and decide 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 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. Other eligibility rules and exclusions can apply, and some entities are excluded regardless of their size, so meeting the thresholds alone does not automatically confirm eligibility.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime makes FRS 105 available to a company, but it does not force the company to use it. A qualifying company can generally choose FRS 105 or another applicable framework, such as FRS 102. The decision matters because it affects the accounting treatments available and the level of disclosure in the accounts, so it is worth weighing up which framework suits the company and the people who use its accounts before the accounts are prepared.

What is the difference between FRS 105 and FRS 102?

FRS 102 is used by most small and medium-sized companies and permits a wider range of accounting options, including revaluation of certain assets and fair value accounting in defined circumstances, alongside more extensive disclosures. FRS 105 is narrower and more prescriptive, tied specifically to the micro-entities regime, with fewer measurement choices and a much shorter set of notes. In practice, FRS 105 accounts are usually shorter and simpler than FRS 102 accounts, which is one reason the regime appeals to very small companies.

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

Where a company is required to file annual accounts, its FRS 105 financial statements form the basis of what is filed at Companies House under the requirements that apply to micro-entity accounts. This filing is separate from the company's Corporation Tax obligations, even when both are handled at the same time. The content and format that can be filed have been changing as Companies House requirements evolve, so it is worth confirming the current expectations before submitting anything.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities regime and used for reporting the company's financial position. The CT600 is a Corporation Tax Return submitted to HMRC, which deals with the company's tax position. They go to different bodies and serve different purposes, although the figures in the accounts usually feed into the tax computation, so preparing them together helps keep the information consistent.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first set of accounts if it qualifies as a micro-entity and chooses the micro-entities regime. First-year accounts can raise particular questions, such as the period covered and the absence of comparative figures, so it is sensible to consider the framework early rather than assuming eligibility. A company is not locked into the same framework forever, but switching later can affect comparability between years.

What information is needed to prepare FRS 105 accounts?

Typically you would provide bank statements and reconciliations, sales and purchase records, expense receipts or summaries, payroll and director's loan details, information about fixed assets and any liabilities, plus last year's accounts or opening balances where relevant. If you use accounting software, read-only access or a standard report often covers most of this. Any correspondence from Companies House or HMRC, and details of changes to share capital or company information, help ensure the accounts and related filings are consistent.