─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Northenden

FRS 105 Micro Entity Accounts in Northenden are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 sets out how qualifying micro-entities should prepare their annual financial statements, including the balance sheet, profit and loss account and related notes, with a focus on simplicity and reduced disclosure. Professional preparation can help ensure that your FRS 105 Micro Entity Accounts are put together appropriately for your company’s circumstances, using the financial records you provide and reflecting the applicable reporting requirements. Eligibility is not automatic: a company must meet the relevant size conditions and any other rules or exclusions that apply, and must decide whether the micro-entities regime is suitable for its needs. Working with an experienced preparer can help you understand whether FRS 105 is likely to be appropriate and assist in producing accounts that are clear, consistent and ready for the next stage of your filing obligations.

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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 Company

FRS 105 is a UK financial reporting standard that sits alongside the micro-entities regime. In plain terms, it is the accounting framework available to companies that qualify as micro-entities and choose to apply that regime. When a qualifying company uses the micro-entities regime, FRS 105 applies to the preparation of its annual financial statements. FRS 105 Micro Entity Accounts are generally simpler than accounts prepared under larger-company frameworks, with less disclosure and some simplified measurement rules. The framework covers the core statements — such as the balance sheet and profit and loss account — and the limited notes that accompany them. It is important to understand that the micro-entities regime is optional: qualifying companies can choose it, but they are not forced to. FRS 105 applies only when that choice is made. For companies in Northenden and across the UK, FRS 105 Micro Entity Accounts can provide a straightforward way to report financial information, provided the company meets the relevant eligibility conditions and the regime suits its circumstances.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and 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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. However, those size tests are not the whole story. Other eligibility rules and exclusions can apply, so meeting the thresholds alone does not automatically guarantee that a company can use FRS 105. A company must also decide whether the micro-entities regime is the right choice for its circumstances. FRS 105 Micro Entity Accounts in Northenden are therefore prepared for companies that both qualify and opt into the regime, with the accounts built around the framework’s requirements. If you are unsure whether your company can use FRS 105, a professional review of your position can help clarify the options.

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 Accounts for Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts are built from your company’s financial records and the reporting requirements that apply to your circumstances. The process typically involves reviewing your bookkeeping, bank records, invoices, expenses and other relevant information, then using those details to prepare the financial statements required under FRS 105. For a qualifying micro-entity, those statements usually include a balance sheet, a profit and loss account and the associated notes. It is important to distinguish between preparing and filing the financial statements with Companies House and dealing with Corporation Tax. FRS 105 Micro Entity Accounts are part of the company’s annual accounts, while a Corporation Tax Return (CT600) is a separate submission made to HMRC. Professional support can help ensure that the accounts are prepared consistently and that the figures are based on the information you provide. It does not mean that Companies House or HMRC approves or endorses the accounts, and it does not remove the need to check that the filing meets the relevant requirements.

ICAEW

ACCA

AAT

Need Help With Your FRS 105 Micro Entity Accounts in Northenden?

If you would like support with your FRS 105 Micro Entity Accounts in Northenden, we are here to help. To assess your circumstances and discuss how we can assist, it is useful to have details of your company’s trading activity, financial records, and any previous accounts or filings. We can talk through whether the micro-entities regime may be relevant for your company, what information is needed to prepare FRS 105 accounts, and how the preparation process works. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements and take the next step with clear, practical guidance.

─── 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 companies that qualify for the micro-entities regime and choose to apply it. It sets out how a qualifying micro-entity prepares its annual financial statements, including the balance sheet, profit and loss account and notes. FRS 105 Micro Entity Accounts are designed to be simpler than accounts prepared under other frameworks, with reduced disclosure and some simplified measurement rules.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualification depends on meeting the size conditions for the relevant accounting period, as well as any other rules and exclusions. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting these conditions alone does not automatically guarantee eligibility, so it is important to check the full requirements.

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 as a micro-entity can choose whether to apply the regime. If it chooses not to, it may prepare accounts under another applicable framework, such as FRS 102. FRS 105 applies only when the company has chosen to use the micro-entities regime.

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 size conditions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average number of employees of no more than 10. These are the main size tests, but other eligibility rules and exclusions can apply, and meeting the size conditions alone does not always mean a company can use FRS 105. Professional advice can help you assess your position.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the financial reporting standard for the micro-entities regime, while FRS 102 is a broader UK accounting framework used by many other companies. FRS 105 generally involves fewer disclosures and some simplified measurement rules compared with FRS 102. It is designed for qualifying micro-entities that choose the micro-entities regime. The two frameworks are not interchangeable for the same set of accounts; the appropriate choice depends on the company's eligibility and circumstances.

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

Where a company is required to file annual accounts, FRS 105 Micro Entity Accounts are typically included in the accounts submitted to Companies House. Filing requirements depend on the company's circumstances, including whether it is small, dormant, or has other filing obligations. Preparing the accounts is a separate step from filing them, and it is important to ensure that the accounts and the filing meet the relevant requirements. Companies House does not approve or endorse the accounts.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime. A Corporation Tax Return (CT600) is a separate tax filing submitted to HMRC. The CT600 deals with the company's Corporation Tax position, while the FRS 105 accounts report the company's financial performance and position. The accounts may provide information that helps in preparing the CT600, but the two are distinct filings with different purposes and recipients.

What information is needed to prepare FRS 105 accounts?

To prepare FRS 105 Micro Entity Accounts, a preparer will usually need your company's financial records for the relevant accounting period. This can include bookkeeping records, bank statements, invoices, receipts, payroll information and details of any assets or liabilities. Previous year's accounts and any relevant correspondence can also be helpful. The exact information required can vary depending on the company's activity and circumstances.