─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Oulton

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime for companies that qualify for it and actively choose to apply it. FRS 105 is the financial reporting standard sitting behind that regime, and it offers a simplified, more streamlined basis of preparation than the fuller standards used by larger companies. For directors in Oulton running a small limited company, the appeal is usually straightforward: clear, concise accounts that report what the micro-entities regime requires without the additional disclosures and fair value work that other frameworks bring with them. That said, eligibility is not automatic and choosing the regime has knock-on effects, including how profits are reported and how much of the accounts ends up being filed at Companies House. Professional preparation helps you work through that decision properly, apply the standard consistently to your own transactions and records, and make sure the figures in your FRS 105 financial statements hang together with the rest of your company’s reporting. If you would like to understand whether FRS 105 Micro Entity Accounts are the right route for your company, we can review your circumstances and explain the options in plain English.

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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.

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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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 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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In practice, it works hand in hand with the micro-entities regime: if your company qualifies for that regime and you decide to use it, FRS 105 is the standard you apply when preparing your annual accounts. The idea behind it is simplicity. FRS 105 accounts focus on the core statements most small company directors actually need, with simpler measurement rules and far fewer disclosure notes than frameworks such as FRS 102. Assets are generally held at their basic cost-based amounts rather than being revalued, and the notes to the accounts are kept to a minimum. The trade-off is that FRS 105 is deliberately less flexible than the alternatives, so it suits companies with straightforward trading activity far better than those with complex financial instruments, group arrangements or unusual transactions. Crucially, using FRS 105 is a choice, not an obligation. A qualifying company can elect to apply the micro-entities regime and therefore FRS 105, or it can opt for a fuller framework instead. Because that decision affects how your results are presented, it is worth taking advice before you commit, particularly if your company is growing or your circumstances are changing.

Who Can Use FRS 105 in the UK? Eligibility for Oulton Companies

FRS 105 is intended for UK companies that qualify for the 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 figures are the starting point rather than the whole test. The micro-entities regime also carries its own eligibility rules and exclusions, and certain companies — including some in group structures or operating in particular sectors — may not be able to use it regardless of their size. It is also worth remembering that qualifying is only half of the decision: a company that meets the conditions still has to opt into the regime, and once it does, FRS 105 is the standard it applies. Companies that fall outside the regime, or that prefer a fuller presentation of their results, will typically look at other frameworks instead. If you are based in or around Oulton and want to know where your company stands, we can review your figures and circumstances and set out the position clearly.

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 Oulton Companies

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records: bookkeeping, bank transactions, sales and purchase information, payroll data, stock and asset details, and any loans or director balances. From there, the accounts are built up in line with the micro-entities regime and the recognition and measurement rules set out in FRS 105, producing a balance sheet and the accompanying notes in the format the standard requires. Two separate threads then follow. The first is the accounts themselves, which for most companies must be filed at Companies House within the statutory filing window, with the option of filing a simpler version depending on what the regime permits. The second is Corporation Tax. A CT600 Corporation Tax Return is a distinct filing made to HMRC, prepared from the same underlying figures but governed by tax rules rather than accounting standards, and it is not the same thing as filing accounts. Keeping both strands aligned avoids the sort of inconsistencies that cause avoidable queries later. It is also worth noting that the way accounts are delivered to Companies House is evolving, with a move towards software-based filing and more detailed information being required from small and micro companies. We can prepare your FRS 105 Micro Entity Accounts, talk you through the filing position, and handle the accounts side separately from your Corporation Tax obligations so you know exactly what is being submitted and where.

ICAEW

ACCA

AAT

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

If you are weighing up whether FRS 105 Micro Entity Accounts suit your company, or you simply want the preparation handled properly so you can get on with running the business, get in touch. Tell us a little about your company — what it does, how it trades, who owns it, and roughly what your turnover, balance sheet and headcount look like — along with your recent records, and we can assess whether the micro-entities regime is likely to be available to you and whether it is the sensible choice. We will explain the framework in plain English, set out what is involved in preparing your FRS 105 financial statements, and clarify how the accounts filing sits alongside your separate Corporation Tax and Confirmation Statement obligations. If you already have a year end approaching, or you are unsure whether last year’s accounts were prepared on the right basis, now is a good time for a conversation.

─── 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 qualifying companies that choose to apply the micro-entities regime should prepare their annual accounts, using simplified measurement rules and a much shorter set of disclosure notes than fuller standards. It covers the form and content of the financial statements, including the balance sheet and the limited notes that accompany it.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Meeting the size conditions is the starting point, but there are additional eligibility rules and exclusions that can affect whether a company can use the regime — for example, certain types of company or those within particular group structures. Because of that, meeting the thresholds does not automatically mean FRS 105 applies, and it is worth checking your specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it and therefore prepare FRS 105 accounts, or it can decide to use a fuller framework such as FRS 102 instead. The choice matters because the two frameworks present results differently, so it is worth considering the longer-term implications before deciding.

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 following 3 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 applicable size conditions, but they are not the whole picture — other rules and exclusions can prevent a company from using the micro-entities regime even where it meets the size tests.

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 differ in how much detail they require. FRS 105 is the micro-entities standard, with simpler measurement rules and minimal disclosures. FRS 102 is a fuller framework used by small and larger entities, with more recognition, measurement and disclosure requirements. In general, FRS 105 accounts are shorter and more cost-effective to prepare, while FRS 102 gives a more detailed picture and greater flexibility.

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

Yes, in the ordinary course, a company's accounts — including those prepared under FRS 105 — must be filed at Companies House within the statutory filing period for its accounting period. What gets filed can differ from the full set prepared for the members, depending on what the regime allows. Filing accounts at Companies House is a separate process from dealing with HMRC, and it is also separate from the Confirmation Statement, which is a different filing altogether.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are prepared under the accounting framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, calculated under tax rules rather than accounting standards. The two start from the same underlying records and figures, but adjustments are often needed to move from accounting profit to taxable profit, which is why both need attention.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime and chooses to apply it. In practice, many start-ups with straightforward trading activity fall within the size conditions in their early years. That said, first-year accounts bring their own considerations, and eligibility still depends on the full set of rules rather than the size tests alone, so it is sensible to confirm the position before preparing the accounts.