─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Leek

FRS 105 Micro Entity Accounts are the specialised financial statements prepared under the micro-entities regime — a simplified accounting framework designed for the smallest UK companies. If your company is based in Leek and you believe it may qualify, FRS 105 can offer a more straightforward route to preparing and filing your annual accounts, with a shorter balance sheet, reduced disclosure and a format that reflects the way genuinely small businesses actually operate. FRS 105 is not automatic: it applies only where a company both qualifies for the micro-entities regime and chooses to apply it, and a number of eligibility rules and exclusions sit alongside the headline size conditions. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are presented correctly for your circumstances, that your accounting records are reflected accurately, and that the accounts you prepare for your members are consistent with the version you file at Companies House. Whether you are a sole director consultancy, a small family trading company or a growing limited company in Leek weighing up which reporting framework suits you best, preparing FRS 105 Micro Entity Accounts properly the first time avoids unnecessary rework and confusion later.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard that sets out how qualifying micro-entities should prepare their accounts. In plain terms, it is the simplest accounting framework available to small UK companies: it allows a short-form balance sheet and a small number of notes, and it does not require some of the fair value and revaluation adjustments that other frameworks do. The key point to understand is the relationship between the framework and the regime. The micro-entities regime is an option available under UK company law to companies that meet the relevant size and eligibility conditions, and FRS 105 is the standard that applies when a company chooses to use that regime. So the regime comes first, and the framework follows. Choosing FRS 105 is a decision, not a default — some qualifying companies prefer a different framework because of their borrowing arrangements, group structure or the needs of their users. For a small company in Leek, the practical benefits usually come down to simpler financial statements, less disclosure and a faster, cleaner accounts preparation process, provided the framework is genuinely suitable for what the business does and who relies on its financial statements.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Qualification is assessed against size conditions and, just as importantly, against a set of eligibility rules and exclusions that can rule a company out even when its figures look small. 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 conditions does not, on its own, guarantee that a company is eligible or that FRS 105 is the right framework for it — other restrictions may apply, and the decision also depends on the company’s structure and on what its members, lenders and other users need from the financial statements. For a limited company in Leek, the practical approach is to review the position each year against the current rules, confirm eligibility before preparing the accounts, and record the basis on which the framework has been chosen. Where the micro-entities regime is appropriate, FRS 105 Micro Entity Accounts give a clear, stripped-back view of the company’s financial position without the additional disclosure that larger frameworks demand.

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 means starting with your underlying accounting records — bookkeeping entries, bank reconciliations, sales and purchase ledgers, payroll information, fixed asset details and any relevant agreements — and turning them into financial statements that reflect the company’s position in line with the applicable reporting requirements. Professional preparation helps with the judgement calls that FRS 105 accounts involve: confirming that the company is eligible for the micro-entities regime for the period in question, checking that the balance sheet is presented in the correct format, drafting the small number of notes the framework permits, and making sure the figures agree to your records. It is important to keep the strands of compliance separate. FRS 105 Micro Entity Accounts are prepared for the company’s members and are the accounts filed at Companies House, subject to the relevant filing deadlines and rules. A Corporation Tax Return, known as a CT600, is a separate filing submitted to HMRC, and it is based on your taxable profits rather than on the presentation of your statutory accounts. A Confirmation Statement is separate again. Working with an accountant on FRS 105 Micro Entity Accounts means these obligations are handled in the right order, with the accounts and the tax position considered together but treated as distinct pieces of work.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Leek

If you are a Leek-based company considering FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your circumstances. Tell us about your company’s turnover, balance sheet position and average number of employees for the relevant period, along with anything that might affect eligibility, such as group relationships, the nature of your activities or the framework used in previous years. It also helps to confirm whether you need accounts prepared from bookkeeping records we can work from, or whether you already have draft figures that need reviewing and finalising. From there we can explain whether the micro-entities regime looks appropriate for your company, what FRS 105 accounts would involve, how they sit alongside your other filing obligations, and what a clear, transparent fixed-fee option would look like. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 a simplified basis for preparing accounts, allowing a shorter balance sheet, a limited number of notes and fewer measurement adjustments than other frameworks. It exists specifically for the smallest companies that qualify for, and choose to use, the micro-entities regime.

Who can use FRS 105?

FRS 105 is available to companies that fall within the UK micro-entities regime and decide to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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. Other eligibility rules, restrictions and exclusions also apply, so meeting the size conditions alone does not automatically mean a company can or should use FRS 105.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, and FRS 105 applies when a qualifying company chooses to use it. A company that qualifies may instead prepare its accounts under a different framework such as FRS 102, and in some situations — for example where the company's circumstances or the expectations of lenders or other users point elsewhere — that can be the more sensible choice. Eligibility and suitability are two separate questions.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the size conditions 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. A company generally needs to meet at least 2 of these 3 conditions. There are also exclusion rules that can prevent a company from using the regime regardless of its size, which is why the position should be checked for each accounting period rather than assumed.

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 is deliberately minimal. FRS 102 is used by a much wider range of companies and requires more disclosure and more measurement work, including areas such as fair value adjustments and certain financial instruments. In practice, FRS 105 produces shorter, simpler accounts, while FRS 102 gives a fuller picture and offers more flexibility on accounting policies. The right choice depends on eligibility and on what the company and its users actually need.

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

Yes. The statutory accounts prepared under FRS 105 are the accounts that are filed at Companies House, within the applicable filing deadline and subject to the relevant filing requirements. They are distinct from a Corporation Tax Return (CT600), which is submitted separately to HMRC, and from a Confirmation Statement, which confirms company details rather than reporting financial performance.

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

Yes, they are separate obligations. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities framework, and they are filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, and it deals with the company's taxable profits and allowances. The two are prepared from the same underlying records, but they are different documents, filed with different bodies, and the presentation in the accounts does not determine the tax treatment.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping records or a trial balance for the period, bank and credit card statements, details of debtors and creditors, payroll information, fixed asset additions and disposals, any loan or lease agreements, and the prior year accounts. It also helps to know whether there have been changes in ownership, group relationships or the company's activities, and whether any eligibility rules might affect the use of the micro-entities regime. If you are unsure what you have, we can tell you what is needed once we understand your circumstances.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it meets the relevant eligibility conditions for its accounting period and chooses the micro-entities regime. Because a new company usually has a first period covering more than twelve months or a short initial trading period, the figures used to assess the size conditions need to be looked at carefully. It is worth checking the position before the first set of accounts is prepared, as switching frameworks later can create extra work in the comparatives.