─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Knaresborough

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the UK micro-entities regime. For a company based in Knaresborough, that means financial statements prepared on a simpler and shorter basis than the frameworks used by larger businesses, while still giving a clear and accurate view of the company’s position. Professional preparation helps make sure the accounts reflect your company’s own circumstances — its trading activity, assets, liabilities and the disclosures that are actually relevant to it — rather than being forced into a generic template that does not fit. It is worth being clear that the micro-entities regime is not automatic: a company has to meet the applicable eligibility conditions and then decide whether applying FRS 105 is the right choice for its situation. Our role is to work through those points with you and prepare FRS 105 Micro Entity Accounts that suit your company, whether you are filing your first set of accounts or have been trading for years.

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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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 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 UK financial reporting standard that applies to micro-entities — the smallest companies that meet the micro-entity size conditions and choose to use the micro-entities regime. Where FRS 102 is the framework used by most small and medium-sized companies, FRS 105 is a shorter, more straightforward standard with simpler measurement rules and far fewer disclosure requirements, which is why it is often described as the lightest reporting option available to a UK limited company. When a qualifying company selects the micro-entities regime, FRS 105 is the framework it applies, and the resulting financial statements are presumed to give a true and fair view when they are prepared in line with it. In practice, that means a simple balance sheet, a simple profit and loss account and a small number of notes. The accounts are then delivered to Companies House, and they sit alongside — but are entirely separate from — the company’s Corporation Tax Return. Choosing the regime is a decision, not a default, so it is worth checking that the simpler reporting basis genuinely suits how your company trades, what it owns and what its shareholders or lenders need to see.

Who Can Use FRS 105 in the UK? Companies That May Qualify for the Micro-Entities Regime

FRS 105 is designed for UK companies that qualify for the micro-entities regime and then choose to apply it. For accounting periods beginning on or after 6 April 2025, the size conditions to consider are 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 — and a company generally needs to meet at least 2 of those 3 conditions. It is important to treat that as a starting point rather than the whole answer, because a range of other rules and exclusions also apply: certain types of company are not eligible for the regime, and group structures can affect the position. Meeting the size conditions on their own does not automatically guarantee that a company qualifies, and qualifying does not compel it to use FRS 105 — the regime has to be chosen, and some companies will find FRS 102 Section 1A a better fit for their circumstances. For a Knaresborough company, the practical step is to review the figures for the relevant period against the conditions, check whether any exclusions apply, and then decide which reporting framework genuinely suits the business and the people who rely on its accounts.

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 company’s own records: bookkeeping entries, bank and credit card statements, sales invoices, purchase invoices, payroll information, asset purchases and finance agreements, plus details of any amounts owed to or by the company. From there, the accounts are put together in line with the applicable reporting requirements for micro-entities, and the necessary figures and notes are assembled for the financial statements. It helps to separate the moving parts clearly: preparing the financial statements, and then filing the accounts with Companies House, is one exercise; working out and submitting the Corporation Tax Return (CT600) to HMRC is a separate one, and both need attention. Because FRS 105 accounts are prepared from the information you provide, the quality and completeness of those records directly affects how smoothly the process runs, so it is worth keeping things tidy through the year rather than in a rush at the year end. We review the information supplied, raise questions where figures look inconsistent, and prepare FRS 105 Micro Entity Accounts that are consistent with the records and with the reporting framework the company has chosen to apply.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Knaresborough

If you would like help with your FRS 105 Micro Entity Accounts, the best place to start is a straightforward conversation about your company — how it trades, what it owns, how it is structured and what you need from the accounts. Share a little background along with your latest records, such as your bookkeeping, bank statements and details of any assets or loans, and we can assess your circumstances and explain how the micro-entities regime would apply to you. We can also talk through how FRS 105 accounts interact with your wider filing obligations, including your Companies House accounts filing and your Corporation Tax Return, so you know what is being prepared and why. Get in touch with our Knaresborough team to discuss your requirements and agree the next steps.

─── 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 has chosen the micro-entities regime prepares its financial statements, and it is deliberately shorter and simpler than the standards used by larger companies, with simplified measurement rules and a much smaller set of disclosures. In practice, FRS 105 accounts usually consist of a simple balance sheet, a simple profit and loss account and a handful of notes.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. A company has to meet the applicable size conditions — generally at least two out of the three — and also satisfy the other eligibility rules, because certain types of company and certain group structures are excluded from the regime. Qualification is about the company's own circumstances, so it is always worth confirming the position rather than assuming it.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to report under FRS 102 Section 1A instead — for example, where they want accounting options such as fair value measurement, or where shareholders, lenders or a group parent need a more detailed set of financial statements.

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 these 3 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. Meeting the size tests is not the whole story, as other rules and exclusions also apply, and a company must still choose to adopt the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the framework used by most small and medium-sized companies in the UK and it allows a wider range of accounting options along with more extensive disclosure requirements. FRS 105 is the micro-entities standard: it is much shorter, restricts some measurement choices and requires far fewer notes. In broad terms, FRS 105 produces leaner financial statements, while FRS 102 (and FRS 102 Section 1A for small companies) gives more flexibility and more detail.

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

Yes. Micro-entity accounts prepared under FRS 105 are delivered to Companies House as part of the company's annual accounts filing obligation. Filing accounts with Companies House is separate from submitting a Corporation Tax Return to HMRC, and Companies House does not approve or endorse the accounts — it registers the documents that are filed. Your filing date depends on your company's accounting reference date and whether it is a first set of accounts, so check the date that applies to you.

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

Yes, they are two distinct exercises. FRS 105 accounts are the company's financial statements, prepared under the micro-entities reporting framework and filed with Companies House. A CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures used for tax purposes can differ from the figures in the accounts — for example because of capital allowances or disallowable expenses — so the CT600 should be prepared with the tax rules in mind.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank and credit card statements, details of sales and purchases, payroll information, records of any assets bought or sold, loan and finance agreements, and details of amounts owed to or by the company at the year end. If you are a first-year company, incorporation details and any opening transactions are also useful. Complete, consistent records make the accounts quicker to prepare and reduce the number of queries raised along the way.

What changes are coming to micro-entity accounts filing?

Companies House has been moving towards requiring accounts to be delivered in a structured, digital format through compatible software, rather than simply uploading a PDF. The intention is to make filed information easier to use and check, and the timings have been set out in official guidance for different types of accounts. Because the position continues to develop, it is worth confirming the current requirements before your next filing date so nothing catches you out.