─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in North Parade

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplified UK reporting framework available to companies that qualify as micro-entities and choose to apply it. In North Parade, we help directors and business owners understand whether FRS 105 is likely to suit their company, then prepare the accounts from the underlying financial records in line with the framework’s requirements. Because FRS 105 is a distinct regime with its own presentation and disclosure rules, professional preparation helps ensure the financial statements reflect the company’s actual circumstances rather than being slotted into a template that does not fit. We look at your bookkeeping, trial balance, asset and liability position and any relevant transactions, and we explain what the resulting FRS 105 Micro Entity Accounts will show. Meeting the size tests is only part of the picture, so eligibility is always considered alongside the wider rules and exclusions that apply to the micro-entities regime.

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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 Regime in Simple Terms

FRS 105 is the financial reporting standard that sits behind micro-entity accounts in the UK. It is designed for the smallest companies and offers a simpler, shorter set of financial statements than the fuller standards used by larger businesses. Instead of a detailed set of notes and accounting policy disclosures, FRS 105 accounts generally focus on a concise balance sheet, a small profit and loss account and a limited number of disclosures, while still giving a true and fair view of the company’s position. Importantly, FRS 105 is not a separate filing in its own right and it is not automatic: a company first needs to qualify for the micro-entities regime, and then it can choose to apply that regime. FRS 105 is the standard that applies when that choice is made. In practice, this means FRS 105 Micro Entity Accounts in North Parade are prepared for qualifying companies that want straightforward, proportionate financial statements that meet the requirements of the micro-entities regime without the extra disclosure burden of a larger framework.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it — the two elements go together, and neither should be assumed. 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 is an important step, but it is not the whole test. Other eligibility rules and exclusions apply, and some companies are unable to use the micro-entities regime regardless of their size. There is also the question of history and consistency: the size tests are assessed in the context of the relevant period and the rules that apply to it, which is why a company that sat comfortably within the limits one year may need to reconsider the next. If you are unsure where your North Parade company stands, we can review your figures, period dates and structure and explain whether FRS 105 Micro Entity Accounts look appropriate, or whether a different framework is likely to be a better fit.

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 the numbers: bank records, sales and purchase ledgers, payroll information, stock and asset details, loan balances and any other transactions that affect the company’s position. We take those records and build a set of financial statements that is presented in line with the micro-entities regime, so the balance sheet, profit and loss account and supporting disclosures are consistent with one another and with the underlying bookkeeping. Alongside that, we help you understand how the accounts feed into the wider filing picture. The financial statements themselves are prepared on the company’s behalf and, where required, the accounts are submitted to Companies House as part of the statutory filing obligations. That is a separate exercise from Corporation Tax: a CT600 Corporation Tax Return is submitted to HMRC and is based on the company’s taxable profits, not simply a copy of the FRS 105 accounts. Keeping those two strands distinct helps avoid confusion and missed obligations. While we prepare accounts carefully and in line with applicable reporting requirements, the outcome always depends on the accuracy and completeness of the records provided and on the company’s own circumstances.

ICAEW

ACCA

AAT

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

If you run a small company and want to know whether FRS 105 Micro Entity Accounts are the right fit, the best next step is a straightforward conversation about your circumstances. Tell us about your trading activity, your accounting period, your bookkeeping setup and what you already file, and we can talk through how the micro-entities regime may apply to you. To assess your position properly, it helps to have your latest financial records, details of any loans or fixed assets, confirmation of your period dates and an idea of your turnover, balance sheet total and employee numbers. There is no obligation and no pressure — just clear, plain-English guidance on your FRS 105 Micro Entity Accounts, with transparent pricing explained upfront before any work begins.

─── 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 the accounting and disclosure requirements that apply when a qualifying company chooses to use the micro-entities regime, and it is deliberately simpler than the standards used by larger companies. Accounts prepared under FRS 105 typically include a concise balance sheet, a small profit and loss account and a limited set of disclosures, which keeps the reporting burden proportionate for the smallest businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualifying depends on the size tests plus a range of other rules and exclusions, so certain companies are not able to use the regime even if they look small on paper — for example, some entities are excluded by their legal form or the nature of their activity. Meeting the size conditions is a starting point rather than a guarantee, which is why eligibility is best confirmed by looking at your specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not an automatic requirement. A company that qualifies may choose to apply it, in which case FRS 105 is the standard used for its financial statements. A qualifying company may instead decide to prepare accounts under a fuller framework such as FRS 102, particularly if it wants to present more detailed information for lenders, investors or group purposes. The choice should be made deliberately, with the implications understood.

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. These are the headline size conditions, and they sit alongside other eligibility rules and exclusions that can affect whether the micro-entities regime is available. Because the tests interact with your period dates and company history, it is worth checking the position rather than assuming.

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 and produce different levels of detail. FRS 105 is the micro-entities standard and produces short, simplified financial statements with minimal disclosure. FRS 102 is used by a much wider range of companies and generally requires more extensive notes, accounting policy disclosures and fair value style measurements. A qualifying micro-entity can choose between the regimes, and the right answer depends on what the accounts need to do for you.

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

Where a company is required to file statutory accounts, those accounts are submitted to Companies House, and a micro-entity filing its accounts under FRS 105 follows that route rather than making a separate micro-entity filing. The accounts filed are the financial statements prepared under the chosen framework. Filing accounts is a different obligation from filing a Confirmation Statement, and different again from submitting a Corporation Tax Return to HMRC. We can talk you through which documents are due and when, based on your company's own filing history and period dates.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and, where required, filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The accounts usually provide the starting point for the tax computation, but adjustments are often needed, so the figures in the CT600 will not necessarily match the profit shown in the accounts.

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

We generally need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, payroll and employee details, and records of any fixed assets, stock, loans or directors' transactions. It also helps to have your company registration details, the accounting period dates, the previous year's accounts if available, and any correspondence from Companies House or HMRC. The more complete and organised the records, the smoother the preparation process tends to be.