─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in North: Simple, Accurate Financial Reporting

FRS 105 Micro Entity Accounts are the financial statements prepared by UK companies that qualify for the micro-entities regime and choose to apply it. For a qualifying company in North, FRS 105 can offer one of the simplest routes to producing annual accounts, but the framework still has to be applied properly — from recognising income and costs through to the disclosures, or limited disclosures, that FRS 105 allows. Professional preparation helps ensure the accounts reflect your company’s actual circumstances and the framework you have chosen, rather than being produced from a template that assumes your business works like every other micro-entity. In North, we work with directors who want their FRS 105 Micro Entity Accounts prepared clearly and on a sound footing, with the figures supported by their own financial records and with the separate filing and tax obligations explained in plain English. Eligibility is not automatic — the size conditions and the relevant exclusions have to be checked for each company and each accounting period — so a short conversation about your circumstances is usually the most useful first step.

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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 It Means for Micro-Entities in North

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the other UK standards, FRS 102 and FRS 101, but it is deliberately shorter and simpler, which is why it is often described as the smallest-business framework. The important point is that the micro-entities regime is a choice, not a default: a company that meets the relevant size conditions can decide to apply it, and FRS 105 is the standard that applies when that decision is made. Once a company uses FRS 105, its financial statements are prepared on the basis set out in that standard — typically a simple balance sheet, notes where required, and the limited additional statements that the micro-entities regime permits. In practical terms for a business in North, this often means fewer disclosure notes, a simpler format and a lower reporting burden than a full FRS 102 set of accounts. What it does not mean is that the numbers are any less real: the accounts still need to be built from accurate records, and the directors remain responsible for the information filed. If you are unsure whether FRS 105 is the right framework for your company, it is worth reviewing your turnover, balance sheet total and employee numbers before you decide.

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 — qualifying alone does not put a company onto FRS 105. 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 figures give a useful indication of where a company stands, but they are not the full picture. The regime also carries its own rules and exclusions, and certain types of company or particular circumstances can affect whether the micro-entities regime is available at all. Eligibility can also change from one accounting period to the next, so it is worth revisiting the test each year rather than assuming last year’s position still applies. For directors in North considering FRS 105 Micro Entity Accounts, the practical approach is to check the size conditions against your own figures, confirm there are no exclusions that would rule the regime out, and then decide whether the simpler reporting that FRS 105 offers suits how the accounts will be used.

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 for Accurate Financial Reporting

Good FRS 105 Micro Entity Accounts start with good records. We prepare your financial statements from the information your business already holds — bank and bookkeeping records, sales and purchase information, payroll data, asset details and any relevant agreements — and then set them out in the format FRS 105 requires for your accounting period. That preparation is separate from, and does not replace, your other obligations. Filing your accounts with Companies House is one task; preparing and submitting a Corporation Tax Return (CT600) to HMRC is a different one, with its own rules, deadlines and basis of calculation. Confirmation Statements are separate again. We can help you understand how those pieces fit together for a company in North, and we prepare accounts based on the framework you have chosen and the evidence you provide. We do not claim that accounts are automatically accepted, approved or reviewed by any regulator, and we cannot guarantee an outcome — what we can do is prepare the statements carefully, explain the judgements involved and make sure you know what is being filed and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in North

If your company may qualify for the micro-entities regime, or you already prepare FRS 105 Micro Entity Accounts and want them reviewed or handled from start to finish, get in touch. Tell us a little about your business — your accounting period, an outline of your turnover, balance sheet total and employee numbers, the records you keep and any filing dates you are working towards — and we can talk through what is involved and how we would approach it. Pricing is discussed clearly and upfront, with fixed-fee options where they suit, so there are no surprises. We will also flag anything that needs checking before you commit to FRS 105, including whether the size conditions are met and whether any exclusions could apply to your company.

─── 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 the micro-entities regime prepares its annual financial statements, including the format of the balance sheet, the basis for recognising and measuring amounts, and the limited notes that are required. It is far shorter than FRS 102, which is why it is often chosen by very small companies that want a straightforward set of accounts.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK micro-entities regime and decide to apply that regime. Qualifying is not simply a matter of being small in general terms — the company must meet the relevant size conditions and must not fall within any of the exclusions that apply to the regime. Because eligibility depends on your company's own figures and circumstances, it is worth checking before you assume FRS 105 is the right framework.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies for it can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to prepare accounts under FRS 102 instead, for example because a lender, investor or group parent wants a fuller set of disclosures. The decision is normally made by the directors with reference to who will use the accounts.

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 to qualify as a micro-entity: 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 these size conditions is not the whole test, because other eligibility rules and exclusions can apply. It is also worth remembering that thresholds have changed over time, so older guidance may not reflect the rules for your period.

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-entity standard and is deliberately simplified, with a narrower set of permitted accounting treatments and far fewer disclosure notes. FRS 102 is the standard for larger small companies and others, and it offers more accounting options plus substantially more disclosure. In practice, moving between the two can affect how certain items are measured as well as how much information appears in the accounts.

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

Preparing FRS 105 Micro Entity Accounts and filing accounts at Companies House are related but distinct steps. A company that prepares accounts under FRS 105 will normally need to deliver accounts to Companies House for the relevant period, in the format permitted for the regime, alongside any other filings it is required to make. The rules on what must be delivered have been changing, so it is sensible to confirm the current position for your accounting period before you file.

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

Yes. FRS 105 deals with the accounting and financial reporting framework — how the accounts are prepared and presented — while a CT600 is the Corporation Tax Return submitted to HMRC, which deals with taxable profits and tax due under tax rules. The two are prepared on different bases and are filed with different bodies. The accounts are often a starting point for the tax computation, but the figures in the return will not simply mirror the accounts.

What information is needed to prepare FRS 105 accounts?

As a starting point, we would normally ask for your accounting period dates, bank statements and bookkeeping or accounting records, sales and purchase information, payroll or employee details, details of any assets and liabilities, loans or agreements, and any previous accounts. From there we can review the position, confirm whether the micro-entities regime is appropriate for the period and prepare the statements accordingly. If you are a new limited company, the same information applies — a newly incorporated company can use FRS 105 where it qualifies and the regime is chosen, although the first period may need extra attention because of how it is set up.