─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rawtenstall: Straightforward Financial Reporting for Qualifying Companies

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the accounting standard written specifically for qualifying micro-entities, and it is used when that regime is selected rather than a larger reporting framework such as FRS 102. For business owners in Rawtenstall, that usually means simpler financial statements that focus on the essentials — a balance sheet, a small number of notes, and a profit and loss account prepared under the micro-entity rules. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together in a way that reflects your company’s actual circumstances, your accounting records and the reporting requirements that apply to it. It also helps you keep your statutory financial statements and your other filing obligations clearly separated, so you know what is being prepared for the members of the company, what is being filed at Companies House, and what sits with HMRC. Eligibility is not automatic and depends on the company’s size and its specific situation, so the first step is always to look at whether the micro-entities regime is available and appropriate for you.

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FRS 105 Micro-Entity Accounts

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£499.00

£399.00

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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  
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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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 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: The Accounting Standard Behind the UK Micro-Entities Regime

In simple terms, FRS 105 is the financial reporting standard for companies that qualify for the UK micro-entities regime and decide to use it. It is a stripped-back framework: instead of the wider range of measurement choices and disclosures found in larger standards, FRS 105 keeps things deliberately lean. Accounts prepared under FRS 105 are usually based on historical cost, with a reduced set of notes and a simplified format for the balance sheet and profit and loss account. Crucially, qualifying for the micro-entities regime does not force a company to use it — applying the regime is a choice, and FRS 105 applies when that choice is made. A company that qualifies might instead prepare its accounts under FRS 102 (including Section 1A for smaller entities), which allows more accounting options but generally involves more disclosure. Choosing FRS 105 is therefore about matching the reporting framework to how the company operates and what its shareholders, lenders and other users need to see. For a Rawtenstall director running a small trading company, the appeal is often clarity: a shorter set of financial statements, less disclosure, and a reporting basis that suits a straightforward business.

Who Can Use FRS 105 in the UK? Companies That Qualify for the Micro-Entities Regime

FRS 105 is designed 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 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 a useful starting point, but it is not the whole picture. The micro-entities regime also has its own rules and exclusions, and some companies are not eligible to apply it regardless of their size — investment companies being a commonly cited example. There are also practical considerations: a company that qualifies may still prefer FRS 102 because of the transactions it enters into, the information its lenders or investors expect, or how it wants its results presented. If you run a company in Rawtenstall and want to know whether FRS 105 Micro Entity Accounts are likely to be available and suitable for you, the assessment should look at your size, your structure, your accounting period and your specific circumstances rather than the thresholds alone.

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 Rawtenstall Micro-Entities

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records: bookkeeping, bank and credit card transactions, sales invoices, supplier bills, payroll information, asset purchases, loans and stock figures. From that information, the accounts are built to reflect the company’s position and performance under the micro-entity framework, using the format and disclosure requirements that apply. This is a distinct exercise from a Corporation Tax Return. The financial statements are prepared for the company and its members, and are then filed at Companies House in line with the filing requirements that apply to the company. The CT600, by contrast, is a separate Corporation Tax filing submitted to HMRC, and although both draw on the same underlying records, the rules and figures involved are not identical. Working with an experienced accountant helps you keep those strands in order, understand which figures flow where, and make sure the accounts are prepared on a basis that is consistent with the company’s circumstances and applicable reporting requirements. Nothing about that process depends on Companies House or HMRC approving or endorsing the accounts — it depends on the information provided and the standards being applied.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Rawtenstall

If you would like support with FRS 105 Micro Entity Accounts, the best place to start is a conversation about your company. Tell us about your business, your accounting period, who uses your financial statements and what you already have in the way of records, and we can look at whether the micro-entities regime is likely to be available to you and whether FRS 105 is the right framework for your circumstances. Bring along your bookkeeping, bank statements, invoices, payroll details and any information about assets, loans or stock, and we can explain what is needed, how the accounts are put together, and how the statutory filing sits alongside your separate Corporation Tax obligations. Whether you are a new limited company in Rawtenstall or an established one reviewing how your accounts are prepared, get in touch to discuss your requirements and the next steps.

─── 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 prepare their financial statements, including the format of the balance sheet and profit and loss account and the limited disclosures required. It is designed to be simpler than the standards used by larger companies, with fewer accounting options and a shorter set of notes.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. It is not available to every small company and it is not automatic. Qualification depends on the company's size against the applicable thresholds, and other rules and exclusions can affect whether the regime is available. Even where a company qualifies, directors can decide to use a different framework instead, so it is worth checking your position rather than assuming.

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 can choose to apply it and use FRS 105, or it can prepare its accounts under a different framework such as FRS 102. The right choice depends on the company's activities, its transactions, and what its shareholders, lenders and other users of the accounts need to see.

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: 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 size conditions does not, by itself, always mean the company qualifies — the specific rules and exclusions for the micro-entities regime still apply, and some companies are excluded regardless of size.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entity standard and is deliberately minimal: it is based on a simple historical cost approach, recognises fewer items, and requires far less disclosure. FRS 102 is a fuller framework, and smaller companies often use FRS 102 Section 1A, which permits more accounting choices, such as certain revaluations and fair value treatments, but comes with more notes and detail. Choosing between them is a matter of eligibility and what best suits how the company reports.

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

Where a company prepares statutory accounts under FRS 105, those accounts form the basis of its annual accounts filing at Companies House, subject to the filing requirements that apply to it. The accounts are prepared for the company and its members first; the filing step is a separate part of the process. What must be filed, and in what format, depends on the company's circumstances and current filing rules.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entity framework for accounting and reporting purposes. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits and calculate tax due. Both are built from the same underlying records, but they follow different rules and are filed with different bodies, so figures in the accounts and the tax return are not always identical.

What information is needed to prepare FRS 105 accounts?

In practice you will need a complete record of the company's transactions for the accounting period: bookkeeping or accounting software records, bank and credit card statements, sales invoices and receipts, supplier invoices, payroll and pension information, details of asset purchases and disposals, loan and finance agreements, stock or work-in-progress figures, and any relevant contracts or correspondence. The cleaner and more complete the records, the more efficiently the accounts can be prepared and reviewed.