─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lymm — Clear Financial Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts give qualifying UK companies a simpler way to prepare and present their financial statements. FRS 105 is the financial reporting framework used when a company qualifies for the micro-entities regime and chooses to apply it, allowing for a more streamlined balance sheet, limited disclosure notes and a set of accounts that reflects the size and shape of a genuinely small business. For directors in Lymm and the surrounding area, professional preparation means the accounts are built from your actual bookkeeping and financial records, presented in line with the micro-entities regime as it applies to your company, and supported by the schedules and working papers that sit behind the figures. It also means someone is checking that using the regime is appropriate for your circumstances — because qualifying is not automatic, and other rules and exclusions can affect whether FRS 105 is the right route. Whether you handle your own bookkeeping or use a bookkeeper locally, we can take the figures, talk through the judgements involved, and prepare FRS 105 Micro Entity Accounts that you can understand and stand behind.

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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 Business

In plain terms, FRS 105 is the UK accounting standard written specifically for micro-entities — the smallest companies that are eligible for the micro-entities regime. When a qualifying company decides to apply that regime, FRS 105 is the framework it uses to prepare its financial statements. In practice that means a simplified balance sheet, a much shorter set of notes than you would see under a fuller reporting framework, and financial statements that focus on the information a micro-entity’s shareholders and lenders actually need. It is a deliberate choice rather than an automatic label: a company has to meet the eligibility conditions for the regime, and it then has the option of applying it. FRS 105 accounts are still real accounts — they must be prepared from accurate records, be internally consistent and reflect the company’s financial position properly. What they are not is a shortcut around good record-keeping. If you run a small company in Lymm and want to know whether FRS 105 Micro Entity Accounts would suit the way your business is structured and financed, the sensible first step is a straightforward conversation about your circumstances.

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

FRS 105 is designed for UK companies that qualify for the micro-entities regime and decide to apply it. The regime is not automatic and it is not compulsory — eligibility is a question of fact and there may be exclusions that rule a company out regardless of its size. 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 are the size conditions, and they sit alongside the relevant rules and exclusions that also shape who can use the regime; meeting two of the three tests alone does not always mean a company qualifies. Companies in Lymm that are considering FRS 105 Micro Entity Accounts should therefore look at their own structure, ownership, activities and financing rather than assuming the regime applies, and treat the decision to apply it as a positive choice about the most suitable way to report their results.

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 Built on Accurate Financial Reporting

FRS 105 Micro Entity Accounts are only as good as the records behind them, which is why preparation starts with your financial information: bank transactions, sales and purchase records, payroll details, asset purchases, loans, stock or work in progress, and any other matters that affect the company’s position at the period end. From there, the accounts are drafted under the micro-entities regime, with a balance sheet and notes that reflect the figures and the applicable reporting requirements for your company. It is important to keep the different obligations separate. Preparing FRS 105 accounts is one piece of work; filing those accounts with Companies House is a separate companies-house obligation with its own requirements; and a Corporation Tax Return (CT600) is a different filing altogether, submitted to HMRC rather than Companies House and based on the company’s tax position rather than solely on the accounts. A well-run process joins these up so that the numbers agree, the narrative is consistent and nothing is prepared in isolation. We work from your records to produce a clear set of FRS 105 financial statements, explain the figures that matter, and keep the accounting and tax workstreams sensibly aligned for directors in Lymm, without overstating what any filing process can guarantee.

ICAEW

ACCA

AAT

Ready to Get Your FRS 105 Micro Entity Accounts in Lymm Sorted?

If you would like help with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your company and how it operates. Tell us your accounting period, roughly what your turnover, balance sheet total and employee numbers look like, how your records are kept, and whether the company has any loans, investments, group relationships or unusual transactions that could affect which reporting framework is available to you. From there we can talk through whether the micro-entities regime looks appropriate, what the accounts will include, and what information we would need to prepare them. If you already have a bookkeeper, accountant or software package in place, we can work with that rather than asking you to start again. Clear, transparent pricing and a straightforward explanation of the process come as standard — so get in touch and let’s look at your circumstances together.

─── 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 to apply the micro-entities regime prepares its financial statements, including what the balance sheet looks like and how much disclosure is required. It is a lighter framework than the standards used by larger companies, which is the point: it is designed around the reality of a very small business rather than a larger corporate group.

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. Qualifying is not automatic and it is not compulsory. A company has to fall within the eligibility rules and be free of the relevant exclusions — for example, certain types of entity and certain kinds of activity are not permitted to use the regime — and the directors then decide whether applying it is right for their circumstances. Meeting the size tests on their own does not guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a requirement. A company that qualifies for it can choose to apply it, but it can also choose to prepare its accounts under a fuller framework such as FRS 102 and simply take advantage of small company filing options instead. The choice often comes down to what the shareholders, lenders or other users of the accounts need to see, and whether the simplifications of FRS 105 are helpful or restrictive for that particular business.

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 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. Those size conditions are subject to the relevant rules and exclusions, so other eligibility factors can still prevent a company from using the micro-entities regime even where it comfortably meets two of the three tests.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company. FRS 102 is the main framework used by most companies and is also the basis for the small companies regime, with more recognition and measurement requirements and considerably more disclosure than FRS 105. FRS 105 is narrower and simpler: it is available only to qualifying micro-entities that choose the micro-entities regime, and it strips the financial statements back to a balance sheet with limited notes. Moving between the two is possible, but it can change how figures are presented and should be considered carefully.

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

Yes — where a company uses FRS 105 for its statutory accounts, those accounts still need to be filed with Companies House as part of the company's annual accounts filing obligation. The micro-entities regime affects how the accounts are prepared and how much is disclosed, not whether they are filed. Filing arrangements for small and micro-entity companies have been evolving, including a move towards filing through software and, for many companies, filing the profit and loss account alongside the balance sheet, so it is worth confirming the current position for your accounting period before you file.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are two distinct filings. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities regime and filed with Companies House. A Corporation Tax Return (CT600) is a tax filing submitted to HMRC with the company's tax computation, and it deals with the company's taxable profits rather than just the reported figures. They are usually prepared together so the numbers are consistent, but they are not the same document and they go to different places.

What information is needed to prepare FRS 105 accounts?

We normally need the company's bookkeeping or accounting records for the period, bank and credit card statements or a reconciled cash book, details of sales and purchases, payroll information, and records of any assets bought or sold. Loans, director's loan account movements, stock, work in progress, accruals, prepayments and any unusual or one-off transactions are also relevant. If you use accounting software, giving us access to that file is usually the quickest route, and we can then identify anything we need to discuss before the accounts are prepared.