─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in North Ferriby

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK micro-entities which choose to adopt the micro-entities regime. If your company is based in North Ferriby and its accounts are straightforward — typically a simple trading position, modest levels of stock, and few or no complex financial instruments — FRS 105 may offer a proportionate way to present your financial statements. Professional preparation helps ensure the accounts reflect your company’s actual circumstances, that the disclosures included are appropriate for the micro-entities regime, and that the figures are consistent with the underlying accounting records. It is important to note that FRS 105 is not automatic: a company must first satisfy the eligibility conditions for the micro-entities regime and then decide that the regime is right for it. Where a company does qualify, well-prepared FRS 105 Micro Entity Accounts can give directors, lenders and other interested parties a clear, uncluttered view of the business’s financial position.

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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 Micro-Entity Accounts Mean for Your North Ferriby Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a very small company should draw up its annual financial statements — what goes on the balance sheet, what goes on the profit and loss account, and how little supporting narrative is required — when that company both qualifies for the UK micro-entities regime and chooses to apply it. The micro-entities regime itself is a simplified accounting option available to companies that meet the size conditions set for it, and FRS 105 is the standard that applies once that option is taken. Compared with the fuller standards used by larger companies, FRS 105 keeps things deliberately lean: it focuses on the essentials, generally works from historical cost, and avoids much of the disclosure detail that bigger entities must include. For a North Ferriby company with a simple trading history, that can mean financial statements that are easier to read and less costly to produce, while still telling an accurate story about the business. What FRS 105 does not do is change your other obligations — your Corporation Tax position, your Confirmation Statement and your wider Companies House filing duties all sit separately from the accounting framework itself.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Qualification is driven by size conditions. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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. These are the headline size tests, but they are not the entire picture. Additional eligibility rules and specific exclusions can affect whether a particular company may use the regime — for example, certain types of entity and certain regulated or investment-related activities are treated differently. Meeting the size conditions therefore does not automatically guarantee eligibility, and it certainly does not oblige a qualifying company to adopt FRS 105; the regime is an available option rather than a requirement. For directors in North Ferriby weighing this up, the practical question is usually whether the simplified framework genuinely fits how the company operates and how its accounts are used. We can review your company’s circumstances against the applicable conditions and exclusions, explain what the micro-entities regime would mean for your financial statements, and help you decide whether FRS 105 is the right basis before any accounts are prepared.

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 North Ferriby

Preparing FRS 105 Micro Entity Accounts properly starts with your day-to-day financial records — bank transactions, sales and purchase invoices, payroll information, asset purchases and any loans or balances owed to or by the company. From those records we build a set of financial statements in line with the micro-entities regime and FRS 105, then handle the statutory filing of those accounts with Companies House. That accounting and filing work is distinct from your Corporation Tax obligations: the CT600 is a separate return submitted to HMRC, and the figures used for it are computed under tax rules rather than simply copied from the accounts. Many directors in North Ferriby find it helpful to have both looked at together so the two positions reconcile sensibly, but they remain separate exercises with separate deadlines and separate audiences. Our role is to prepare your FRS 105 Micro Entity Accounts carefully, based on the information you provide and the reporting requirements that apply to your company, and to keep you informed about what has been included and why. We do not claim that any set of accounts is guaranteed to be accepted by any third party, and we will always be clear with you about the judgements and estimates the figures rely on.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in North Ferriby

If you would like support with your FRS 105 Micro Entity Accounts, we would be glad to talk through your situation. It helps to start with a short conversation about your company — what it does, how it is structured, when your accounting period ends, and whether you have already been applying the micro-entities regime. From there we can ask for the records we need, confirm how the accounts will be prepared, and set out our clear, transparent pricing before any work begins. Whether you are preparing micro-entity accounts for the first time, moving across from another framework, or simply want a second pair of eyes on figures you have already drafted, get in touch and we will explain the next steps in plain English.

─── 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 that applies to companies using the micro-entities regime. It sets out a simplified basis for preparing annual financial statements, with a strong focus on the essentials — a balance sheet, a profit and loss account, and a small amount of supporting information. It is deliberately lighter than the standards used by larger companies, which is why it suits very small businesses with straightforward affairs.

Who can use FRS 105?

FRS 105 is 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 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. Meeting those size conditions alone is not the whole story — other eligibility rules and specific exclusions can apply, and a company that qualifies is still free to use a fuller framework instead.

Is FRS 105 compulsory for every micro-entity?

No. Eligibility and adoption are two different things. A company may qualify for the micro-entities regime but decide to prepare its accounts under a different standard, and some companies that qualify may find a fuller framework better suited to how they are financed, structured or reported on. FRS 105 applies when a qualifying company chooses to use the micro-entities regime, so the decision is one to make deliberately rather than something that happens automatically.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are written for different sizes of company. FRS 105 is the micro-entities standard: highly simplified, generally based on historical cost, and with limited disclosure requirements. FRS 102 is the standard used by small and medium-sized entities that do not qualify for, or do not choose, the micro-entities regime. FRS 102 offers more accounting policy options and requires considerably more disclosure, so it tends to involve more work and a longer set of financial statements.

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

Yes. Preparing accounts under FRS 105 affects how the financial statements are drawn up, not whether they have to be filed. A company that prepares FRS 105 Micro Entity Accounts still files its annual accounts with Companies House, and the filing should reflect the framework actually used. Filing accounts with Companies House is separate from filing a Corporation Tax Return with HMRC, and it is also separate from the Confirmation Statement, which is a different statutory filing altogether.

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

It is separate. FRS 105 governs the accounting and financial reporting framework used to produce your annual accounts; the CT600 is the Corporation Tax return submitted to HMRC to report the company's taxable profit and calculate the tax due. The two documents can be prepared from the same underlying records, and it usually makes sense to review them together, but they serve different purposes, apply different rules in places, and go to different organisations.

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

As a starting point, we would typically ask for your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase records, payroll and director remuneration details, details of any loans or amounts owed to and from the company, and information on fixed assets bought or sold. If your records are held in accounting software, giving us access is often the quickest route. Anything unusual — a one-off transaction, a change in share capital, or a new source of income — is worth flagging early so it can be handled correctly.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it meets the eligibility conditions for the micro-entities regime and decides to apply it. In the early stages many companies are well within the size thresholds, but eligibility depends on the applicable conditions and exclusions rather than on how long the company has been trading, so it is worth checking before assuming. If you are setting up in North Ferriby, it is often easier to decide the accounting framework at the outset than to change approach later.