─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Morecambe — Prepared for Qualifying Micro-Entities

If your company qualifies for the UK micro-entities regime and you have chosen to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework for your statutory financial statements. FRS 105 is the simplified framework available to qualifying micro-entities, and it supports clear, consistent reporting of the figures that matter most to a small company’s directors, lenders and other users of the accounts. Preparing FRS 105 Micro Entity Accounts in Morecambe is about more than filling in a template: the accounts need to reflect your company’s actual transactions, apply the framework correctly, and sit consistently alongside the other information you file. Professional preparation helps confirm that the accounts are presented appropriately for the regime you have chosen, that the disclosures suit a micro-entity, and that you understand what the figures show before the accounts are finalised. We work with directors and owners across Morecambe to prepare FRS 105 Micro Entity Accounts from their records, with clear communication and no jargon at every stage.

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FRS 105 Micro-Entity Accounts

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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  
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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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Micro-Entities in Morecambe

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified accounting framework: qualifying companies that choose to apply the micro-entities regime prepare their annual financial statements using FRS 105, and those statements typically include a balance sheet, a small set of notes and — depending on the company’s circumstances — a profit and loss account. FRS 105 keeps measurement straightforward, generally working on a historical cost basis, and it requires far fewer disclosures than the fuller standards used by larger companies. It is not a different set of tax rules, and it is not a substitute for a Corporation Tax Return; it is the accounting framework behind the statutory accounts. Choosing the micro-entities regime is a decision for the company, and FRS 105 applies when that regime is chosen. For a director in Morecambe, the practical benefit is simpler, shorter accounts that still give a true and fair view of the company’s position, prepared from accurate records and filed as required.

Who Can Use FRS 105 in the UK? Eligibility for Morecambe Companies

FRS 105 is intended 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, a company generally needs to meet at least 2 of these 3 applicable conditions, subject to the relevant rules and exclusions: 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 those size conditions does not by itself guarantee eligibility, because certain entities and circumstances are excluded from the regime regardless of size — investment undertakings, for example, are among those that cannot use it. Whether the company is part of a group, what its governing documents require, and what its lenders or shareholders expect can also influence the sensible choice. If you run a company in Morecambe, the practical starting point is a short review of your latest figures and your circumstances, so you can see whether the micro-entities regime fits and whether FRS 105 Micro Entity Accounts are the right basis for your statutory accounts this year.

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 in Morecambe

FRS 105 Micro Entity Accounts should be built from your company’s underlying financial records — sales and purchase information, bank and cash records, payroll data, fixed asset details, stock where relevant, and any loans or balances owed. We prepare the financial statements from those records, apply the presentation and disclosure requirements that go with the micro-entities regime, and discuss the figures with you before anything is finalised so there are no surprises. It is worth keeping two things distinct: the preparation and filing of the statutory accounts with Companies House, and the separate Corporation Tax obligations owed to HMRC, which are dealt with through a Company Tax Return (CT600). The two are connected through the same underlying numbers, but they are different filings with different purposes. Our role is to prepare and support your FRS 105 Micro Entity Accounts carefully and accurately; we do not claim that accounts are guaranteed to be accepted, and we do not suggest that any filing is reviewed or approved by Companies House or HMRC in advance.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Morecambe

If you would like help preparing FRS 105 Micro Entity Accounts for your Morecambe company, get in touch and we will talk through your circumstances. It helps to have your latest trial balance or bookkeeping records, bank statements, details of any assets, stock or loans, your previous year’s accounts, and a note of anything unusual that happened during the period, such as a new lease, a director’s loan or a change in activity. We will check whether the micro-entities regime looks appropriate for your company, explain what the accounts will include, and confirm what we need from you to move forward. Whether you are preparing accounts for the first time, switching framework, or simply want a second pair of eyes on figures you have already drafted, a short conversation is usually the quickest way to establish what is involved.

─── 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 are FRS 105 Micro Entity Accounts?

They are the statutory financial statements prepared under FRS 105, the UK reporting standard for qualifying micro-entities that choose to apply the micro-entities regime. They typically consist of a balance sheet and a small number of notes, and may include a profit and loss account depending on how the company chooses to present its accounts and what is required for its circumstances. FRS 105 is a simplified framework, so the accounts are shorter and more straightforward than those prepared under fuller standards such as FRS 102.

Who can use FRS 105?

FRS 105 is available to companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying depends on the size conditions being met and on the company not being excluded for another reason. It is a choice rather than an automatic outcome: a company that qualifies may instead prepare its accounts under a fuller framework such as FRS 102 if that suits its needs better, and the decision is usually worth reviewing with your accountant.

Is FRS 105 compulsory for every micro-entity?

No. Being eligible for the micro-entities regime does not mean a company must use it. The regime is an available option, and FRS 105 applies when a qualifying company decides to adopt that regime. Some companies choose a fuller framework because of their size trajectory, because of what lenders or investors expect, or simply because they prefer the additional detail. Either way, the accounts still need to be prepared properly under whichever framework is chosen.

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 the following 3 conditions to fall within the micro-entities size thresholds: 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 those size conditions is not the whole picture — other eligibility rules and exclusions can apply, so it is important to check the position for your specific company rather than assuming eligibility.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard, with simpler measurement and far fewer disclosure requirements. FRS 102 is the standard generally used by small and larger entities, and it involves more detailed recognition, measurement and disclosure. The numbers reported can differ between the two frameworks, so switching between them is a decision that should be considered carefully rather than treated as a formality.

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

The statutory accounts prepared for a company's accounting period are the accounts that are filed with Companies House, and where a company has adopted the micro-entities regime those accounts are prepared under FRS 105. Micro-entity accounts are typically shorter and contain less information than accounts prepared under fuller frameworks. Filing is separate from your tax obligations, and you should always work to the filing requirements that apply to your company and accounting period.

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

Yes, they are different things. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities framework and filed with Companies House. A Company Tax Return, commonly known as a CT600, is a separate submission made to HMRC to report the company's taxable profits and calculate Corporation Tax. The figures in the accounts usually form the starting point for the tax return, but adjustments are often needed, so the two should be prepared with each other in mind.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime in its first accounting period and chooses to apply it. In practice, first-period accounts often need a little extra attention — for example around start-up costs, initial share capital, director's loans and any assets bought before trading began. We look at the company's actual position and records before confirming which framework is appropriate, rather than assuming that every new company fits the micro-entities regime.