─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Orrell: Straightforward Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts give qualifying companies a proportionate way to report their financial position. FRS 105 is the financial reporting framework that applies when a company meets the conditions for the UK micro-entities regime and chooses to use it, which means simpler financial statements and fewer disclosure notes than the fuller standards used by larger businesses. Professional preparation helps make sure your accounts reflect your actual trading activity, are built from accurate records and are presented in a way that suits your company’s circumstances. It is not a case of every small company automatically qualifying, and it is not simply a matter of scale — the regime has specific size conditions and other eligibility rules and exclusions that need to be considered. For directors in Orrell, working with someone who deals with FRS 105 Micro Entity Accounts regularly means the figures, the wording of the notes and the filing position are approached carefully rather than assumed.

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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: A Clear Guide for Qualifying Micro-Entities in Orrell

FRS 105 is the UK financial reporting standard that underpins the micro-entities regime. Put simply, it is a shorter and more streamlined set of accounting rules for very small companies, designed so that the financial statements stay proportionate to the size and complexity of the business. Rather than preparing accounts under the fuller requirements of FRS 102, a company that qualifies as a micro-entity and chooses that regime prepares its financial statements under FRS 105. In practice this usually means a simpler balance sheet, far fewer notes and a more straightforward measurement basis. The trade-off is that the accounting options available are narrower, so it is worth checking that the regime genuinely suits how your company is structured, financed and owned before relying on it. Qualifying for the micro-entities regime is a choice, not an obligation — and FRS 105 applies when that regime is the one you use. For directors in Orrell, the appeal is financial statements that are easier to read, faster to prepare and simpler to explain to shareholders and lenders.

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 choose to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 conditions are a starting point rather than the whole answer. Other eligibility rules and exclusions can apply, so a company that comfortably sits inside the size thresholds may still find the regime unavailable, while a company that never expected it might qualify. Because eligibility also interacts with how the company is owned, structured and financed, and because the assessment can change from one period to the next, the sensible approach is to check your own position against the framework rather than rely on a general rule of thumb. We can review your figures for the period in question and confirm whether FRS 105 looks appropriate and available for your Orrell company.

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 Built on Your Company's Records

Well-prepared FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank transactions, invoices, receipts and asset information to build financial statements that reflect what actually happened in your company during the period. Where the micro-entities regime is being used, the accounts are prepared on that basis and the notes are tailored to the disclosures FRS 105 requires, keeping the document clear and free of unnecessary clutter. It is important to see this in context: preparing financial statements and filing accounts with Companies House is a separate exercise from your Corporation Tax position and the CT600 submitted to HMRC. Each has its own requirements, its own information and its own timescales. We can support you with the accounts themselves, and we will be clear about which parts of the process relate to reporting and which relate to tax, so you always know what is being prepared and why.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Orrell

If your company may qualify for the micro-entities regime and you would like your accounts prepared under FRS 105, the best next step is a straightforward conversation. Tell us about your business — what you do, how it is structured, who owns it and how it is financed — and share the records you have, such as your bookkeeping, bank statements, invoices, details of any assets or loans, and your previous year’s accounts if there are any. From there we can assess whether FRS 105 looks like a suitable fit for your circumstances, explain what the preparation involves and set out clear, transparent pricing before any work begins. Whether you are filing for the first time, moving from another adviser or simply want a second opinion on the framework you are using, we are happy to talk through your FRS 105 Micro Entity Accounts requirements.

─── 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 supports the micro-entities regime. It is a simplified accounting framework for very small companies, with a more straightforward measurement basis and far fewer disclosure requirements than the fuller standards used by larger businesses. When a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the standard its financial statements are prepared under.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to use it. Qualifying depends on the size conditions as well as other eligibility rules and exclusions — for example, certain types of company and some entities that sit within larger groups may not be able to apply the regime regardless of their size. It is also a choice: a company that qualifies can still prepare accounts under a fuller framework if that better suits its circumstances.

Is FRS 105 compulsory for every micro-entity?

No. Meeting the size conditions does not automatically push a company onto FRS 105. The micro-entities regime is an available regime, and companies that qualify may either choose to apply it or prepare accounts under a fuller framework such as FRS 102. The decision often comes down to ownership, financing arrangements, what the directors need from the accounts and whether any transactions fall outside the simpler measurement rules.

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 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 conditions is not the whole picture, because additional rules and exclusions can affect whether the micro-entities regime is actually available. We can review your figures against the conditions that apply to your period.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main UK accounting standard used by many small and medium-sized companies. It offers wider measurement options and requires considerably more disclosure. FRS 105 is the micro-entities framework: simpler to apply, with a more restricted measurement basis and much shorter notes. The trade-off is flexibility — FRS 102 gives you more choices, while FRS 105 gives you a shorter, leaner set of financial statements.

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

Micro-entity financial statements are prepared for the company's members and are also filed at Companies House. What appears in the filed version depends on the regime being used and the filing options available to the company, and in practice the filed document is often shorter than the full accounts prepared for the shareholders. Filing accounts at Companies House is a separate obligation from dealing with Corporation Tax, and both need attention in their own right.

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

Yes. FRS 105 Micro Entity Accounts are about accounting and financial reporting, while the CT600 is the Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. The accounts usually provide the starting point for the tax computation, but they are different documents with different purposes and different submission routes. Preparing one does not automatically complete the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses it. New companies do not have a history of figures to test against the size conditions, so the assessment has to be based on what the company expects to do and the nature of the business. If you set up recently in Orrell, it is worth checking the position before your first set of accounts is prepared rather than assuming the regime applies.