─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Pontefract

If you run a small limited company in Pontefract, FRS 105 Micro Entity Accounts may be the most straightforward way to report your financial position. FRS 105 is the financial reporting framework that applies to qualifying micro-entities that choose to apply the micro-entities regime, and it is designed to keep the accounts short, clear and proportionate to the size of the business. Professional preparation can help ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s particular circumstances — reflecting the transactions, balances and disclosures that actually apply to you, rather than a one-size-fits-all template. It also helps to have someone review your figures carefully before the accounts are finalised, so that the numbers in your FRS 105 financial statements line up with your underlying records. Eligibility for the micro-entities regime is not automatic and depends on your company’s size and circumstances, so an initial conversation about your position is always worthwhile before assuming FRS 105 is the right framework for you.

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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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 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. 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 Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is a slimmed-down accounting framework: it allows qualifying companies to prepare simpler financial statements, with fewer disclosure notes and a more straightforward approach to measurement than the fuller standards used by larger businesses. It sits alongside the UK micro-entities regime, which is an available accounting regime rather than a compulsory one. A company that qualifies for the micro-entities regime can choose to apply it, and when that regime is chosen, FRS 105 is the standard that applies to the preparation of the financial statements. For a typical Pontefract micro-entity, that usually means a concise balance sheet, a profit and loss account (often not filed publicly), and a small set of notes. FRS 105 Micro Entity Accounts are about reporting what has already happened in the business accurately and consistently — they are not a tax return, and they do not replace your other Companies House or HMRC obligations. It is also worth remembering that the regime is designed for genuinely small companies, so the size conditions need to be checked each year.

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, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Those figures are a guide to the size test rather than the whole story — other eligibility rules and exclusions apply, and certain types of company are not able to use the micro-entities regime at all. That means a company can meet the size conditions and still not qualify, and conversely a qualifying company is never obliged to apply the regime. If you run a limited company in Pontefract and want to know whether FRS 105 Micro Entity Accounts are appropriate for you, the sensible step is to review your circumstances — your turnover, balance sheet position, headcount, company type and what the accounts are used for — before deciding.

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

Preparing FRS 105 Micro Entity Accounts starts with your financial records — bank statements, sales and purchase information, expense records, payroll details, asset purchases, loans and any other transactions that affect the company’s position. From those records, the accounts are built up in line with the reporting requirements that apply to a micro-entity using FRS 105, so that the balance sheet, profit and loss account and supporting notes present a fair picture of the company for the period. The preparation of the financial statements and the subsequent filing at Companies House are one part of the picture; your Corporation Tax position and any Corporation Tax Return (CT600) are a separate matter dealt with under HMRC rules, even where the figures start from the same underlying records. Working with an experienced preparer means your FRS 105 financial statements are drafted carefully, checked against your records and provided to you for approval before anything is submitted. We do not claim that any filing will be automatically accepted, and no outcome can be guaranteed — but the accounts can be prepared with care, accuracy and attention to the specific circumstances of your company.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Pontefract

Whether you are filing FRS 105 Micro Entity Accounts for the first time or want a second pair of eyes on an existing set, we are happy to talk through your requirements. Get in touch and tell us a little about your Pontefract company — your accounting period, the records you hold, whether you have previously used the micro-entities regime, and anything unusual that has happened in the year. That information lets us assess your circumstances properly and explain how we can help, including clear, transparent pricing and fixed-fee options where they suit your needs. If you are unsure whether FRS 105 is the right framework for you, or whether your company qualifies for the micro-entities regime, that is a perfectly good starting point for the 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 in simple terms?

FRS 105 is the UK financial reporting standard designed for micro-entities. It is a simplified framework that allows qualifying companies to prepare shorter, less detailed financial statements than they would under a fuller standard. It is closely tied to the UK micro-entities regime: where a qualifying company chooses to apply that regime, FRS 105 is the standard used to prepare the accounts.

Who can use FRS 105?

FRS 105 is intended for 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 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. Other eligibility rules and exclusions can apply, so meeting the size conditions alone does not automatically mean a company can, or must, use the regime.

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, and FRS 105 applies when that choice is made. Some qualifying companies prefer to use a fuller framework such as FRS 102, for example where they want to provide more detailed information to lenders or investors.

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-entities standard, offering simpler recognition, measurement and disclosure requirements. FRS 102 is the standard generally used by small and medium-sized companies that do not apply the micro-entities regime, and it involves more detailed accounting and more extensive disclosures. The right choice depends on eligibility and what the company needs from its accounts.

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

Where a company prepares FRS 105 Micro Entity Accounts for its statutory financial statements, those accounts are normally filed at Companies House under the applicable filing requirements for the company's size and type. A micro-entity may be able to file a simpler balance sheet with limited notes, and may be able to omit the profit and loss account from the public filing. The filing obligations themselves come from company law, not from FRS 105.

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

Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the accounting framework. A CT600 is a separate Corporation Tax Return submitted to HMRC under tax rules. The accounts often provide the starting point for the tax computations, but they are different documents with different purposes, and one does not replace the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 in its first set of accounts if it qualifies for the micro-entities regime and chooses to apply it. New companies still need to consider the eligibility conditions and any exclusions that apply to them. It is usually worth confirming the position early, before the first accounting period gets under way, so that the records are kept in a form that supports the accounts.

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

Typically we would need your bank and credit card statements, sales and purchase records, expense receipts, payroll information, details of any loans or finance agreements, asset purchases and disposals, and stock or work-in-progress figures where relevant. If you use accounting software, sharing access or an export of the year's data speeds things up considerably. Anything unusual — a director's loan, a grant, a one-off transaction — is worth flagging at the outset.

Are changes coming to how micro-entity accounts are filed?

Company filing requirements do change from time to time, including the way accounts are submitted and the level of detail required. Because the rules can shift, it is sensible to check the current position for your accounting period rather than relying on how things were filed a few years ago. We can talk you through what applies to your company when you get in touch.