─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ilkley

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to companies choosing the UK micro-entities regime. If your company qualifies for that regime and you decide to use it, FRS 105 sets out the recognition, measurement and disclosure requirements that shape your annual financial statements, including a simplified balance sheet, profit and loss account and a limited set of notes. Working with accountants who handle FRS 105 Micro Entity Accounts regularly helps ensure the accounts reflect your actual transactions and records, that the presentation suits the micro-entity format, and that the figures line up with the information you report elsewhere. It also helps you think through the practical choices the regime involves — how items are measured, what is disclosed, and how the accounts should be framed for your readers. Eligibility is not automatic, so we look at your circumstances before anything is 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 
    
 
 
 
   
 
 
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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: The Micro-Entities Regime and Your Accounts

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that tells a qualifying company how to put together its annual accounts when it chooses to apply the micro-entities regime, which is one of several accounting frameworks available to smaller companies in the UK. Where the regime is adopted, FRS 105 applies — the two go together. The standard is deliberately streamlined: it allows a simpler balance sheet and profit and loss account, limits what has to be disclosed in the notes, and generally keeps measurement straightforward. The trade-off is that some of the flexibility found in broader frameworks, such as revaluing certain assets, is not available. FRS 105 deals with the preparation of the financial statements themselves; it does not cover Corporation Tax, and it does not replace your other Companies House filings. Companies considering it in Ilkley usually want to know two things: whether they qualify for the micro-entities regime, and whether the simpler reporting it brings suits how they want to present their business.

Who Can Use FRS 105 Micro Entity Accounts in the UK?

FRS 105 Micro Entity Accounts are 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 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. Those size tests are the starting point rather than the complete answer. The relevant rules also include exclusions and additional conditions, and some companies fall outside the regime for reasons unconnected with their size, so meeting the thresholds alone should never be taken as confirmation that the regime applies. In Ilkley and across the UK, the sensible approach is to check eligibility against your actual circumstances — your structure, ownership, activity and reporting history — and then decide whether applying the micro-entities regime and preparing FRS 105 accounts is the right fit for your company.

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 properly starts with your underlying records — bookkeeping, bank statements, invoices, expense records, payroll information and details of assets held by the company. From those, we build financial statements that follow the micro-entity format under FRS 105, presenting your company’s position in a way that is clear, internally consistent and grounded in the evidence you hold. That work sits alongside, but is separate from, your other obligations. Filing accounts with Companies House is one exercise; a Corporation Tax Return (CT600) submitted to HMRC is another; a Confirmation Statement is a third. Keeping them distinct means each is handled on its own terms, with the figures reconciled and the differences understood rather than blurred. Careful preparation of FRS 105 accounts for a company in Ilkley is about accuracy and appropriate presentation based on applicable reporting requirements — we apply the framework as it applies to your circumstances and explain what has been done so you can follow the numbers.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Ilkley

If your company is considering the micro-entities regime, or you already prepare FRS 105 Micro Entity Accounts and would like support with them, we are happy to talk it through. A short conversation about your trading activity, your accounting records and how your business is structured is usually enough to establish whether the regime is likely to be available to you and what preparation would involve. Bring along your latest accounts, your bookkeeping and any questions about eligibility, disclosure or how FRS 105 differs from other frameworks, and we can assess where you stand before any work begins. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements in Ilkley.

─── 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 for micro-entities. It sets out how a qualifying company that chooses the micro-entities regime prepares its annual accounts, using a simplified format with reduced disclosure. It is one of several frameworks available to UK companies and sits alongside, rather than replacing, your tax and Companies House filing obligations.

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 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 tests is not the whole story — other rules and exclusions can affect whether the regime is available, so it is worth checking your specific position rather than assuming.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A qualifying company can choose to apply it, in which case FRS 105 applies to its financial statements, or it can use a different framework such as FRS 102. Some companies value the simpler presentation that FRS 105 allows; others prefer the wider flexibility or disclosure another framework provides. The decision should be made with your circumstances and the readers of your accounts in mind.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK and Ireland financial reporting standard. It is more detailed, offers wider recognition and measurement options, and requires more disclosure. FRS 105 is a much shorter standard written only for micro-entities, so it is simpler to apply and to read, but it removes certain choices such as revaluation of particular assets. Whether that simplicity is worth accepting the narrower flexibility depends on your business and what you want the accounts to show.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Where the accounts are prepared for a limited company, they form part of that company's annual accounts and are filed at Companies House in the usual way. FRS 105 governs how those accounts are prepared and presented; the filing obligation itself comes from company law rather than from the standard. Micro-entity accounts are typically shorter than full accounts, which many directors find easier to review before submission.

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

Yes, they are separate documents. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, whereas a CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable position. They draw on the same underlying records and need to be consistent with one another, but they are prepared for different purposes and are governed by different rules about what each must contain.

Can a new limited company use FRS 105?

A newly incorporated company can use the micro-entities regime if it qualifies and chooses to — being new does not automatically rule it out. In practice, the length of the first accounting period and the level of activity in that period can affect how the size conditions are measured, and average employee numbers still need to be considered. We can look at your first period and confirm whether the regime is likely to be available to you.

What information is needed to prepare FRS 105 Micro Entity Accounts?

We typically need your bookkeeping or a summary of income and expenses, bank and credit card statements, sales and purchase invoices where relevant, payroll details including average employee numbers, information about any assets owned by the company, and details of loans, directors' balances and share capital. If you have previous accounts, those are helpful too. The more complete the records, the smoother the preparation, and if anything is missing we can tell you what to gather.