─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rossendale

If your company is a qualifying micro-entity, FRS 105 Micro Entity Accounts provide the financial reporting framework that sits behind the smallest and simplest set of statutory accounts available under UK GAAP. FRS 105 applies when a company both qualifies for the micro-entities regime and chooses to apply it, and it allows for a streamlined balance sheet, profit and loss account and supporting notes prepared on a historical cost basis. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your company’s actual financial records, are presented consistently with the micro-entities regime, and are ready for the filing obligations that apply to your business. Whether you are trading in Rossendale, providing services across Lancashire or operating from a home office, having your micro-entity accounts prepared properly means fewer loose ends at year end and a clearer picture of where your company stands. Eligibility is not automatic, so it is always worth reviewing your turnover, balance sheet total and employee numbers before deciding that FRS 105 is the right framework for a particular accounting period.

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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  
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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 financial reporting standard used in the UK for companies that apply the micro-entities regime. In plain terms, it is the shortest and least detailed accounting framework available to very small companies: instead of the fuller disclosure requirements found in other standards, FRS 105 financial statements keep things simple, typically covering a balance sheet, a profit and loss account and a small number of notes. The important point is that the micro-entities regime is a choice. A company that meets the qualifying conditions may decide to apply it, and when it does, FRS 105 is the standard that governs how the accounts are prepared. Companies that do not qualify, or that prefer more detailed reporting, would generally look to a different framework such as FRS 102 instead. Because FRS 105 Micro Entity Accounts are prepared on a historical cost basis and carry fewer disclosure obligations, they can suit owner-managed companies in Rossendale that want statutory accounts that are straightforward, consistent year to year and focused on the information that genuinely matters to them and to anyone reading the accounts.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and decide to apply it. Qualification is largely size-based. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable 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. However, meeting those size conditions does not automatically guarantee eligibility. Other rules and exclusions apply — for example, certain types of company and certain regulated or group situations can be excluded from the micro-entities regime altogether — so eligibility should be considered in light of your company’s specific legal form, activities and ownership structure. For businesses in Rossendale weighing up their options, the sensible approach is to review turnover, balance sheet total and headcount for the period, check whether any exclusions apply, and then confirm whether applying the micro-entities regime and preparing FRS 105 Micro Entity Accounts is the right choice for that year.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is not simply a case of copying last year’s figures across. The accounts need to be built from your company’s underlying financial records — bank transactions, sales and purchase records, payroll information, asset details and any liabilities — and then presented in line with the requirements that apply to the micro-entities regime for that accounting period. Professional preparation means the figures are reconciled, the presentation is consistent, and the balance sheet, profit and loss account and notes hang together properly. It also means keeping two separate things clearly separated: the statutory accounts filed at Companies House under the micro-entities regime, and the company’s Corporation Tax position, which is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC. A Confirmation Statement is a further, distinct filing. Having your FRS 105 Micro Entity Accounts prepared carefully helps you understand what has been filed, why the figures look the way they do, and what information your accountant needs from you in future years, which is particularly useful for growing companies in Rossendale that want their reporting to keep pace with the business.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Rossendale

If you would like your FRS 105 Micro Entity Accounts prepared properly and explained in language that makes sense, get in touch to discuss your requirements. We will ask about your company’s circumstances — its turnover, balance sheet position, employee numbers and structure — so we can consider whether the micro-entities regime is a suitable fit for the accounting period in question, and talk you through the options if it is not. It also helps to have your records to hand, including bank statements, sales and purchase information, payroll details, expense records and any finance or asset agreements. From there, we can explain clearly what is involved in preparing your FRS 105 Micro Entity Accounts, what the separate Companies House filing and Corporation Tax obligations look like, and how our fixed-fee options work, so you can decide on the next step with confidence.

─── 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 applies to companies using the micro-entities regime. It sets out how the smallest companies prepare their statutory accounts, allowing a streamlined balance sheet, profit and loss account and limited notes, prepared on a historical cost basis. It is the accounting framework behind FRS 105 Micro Entity Accounts rather than a tax return or a Companies House form in its own right.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is not the same as being required to use it — a qualifying company could instead report under a fuller framework such as FRS 102. Certain company types and circumstances are excluded from the regime regardless of size, so eligibility needs to be checked against the rules that apply to your company and the specific accounting period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not an automatic obligation. If a company meets the qualifying conditions it may apply the regime, and FRS 105 then governs how the accounts are prepared. Many qualifying companies do choose it because it keeps reporting simple, but the decision is theirs, and it is worth confirming each year that the company still qualifies and that the regime remains the best fit.

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 the size conditions is not the whole picture, because other rules and exclusions can affect whether the micro-entities regime is available. The conditions should therefore be reviewed against your company's own figures before FRS 105 Micro Entity Accounts are prepared.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of detail. FRS 105 is the micro-entities standard, designed for qualifying companies that choose the micro-entities regime, and it comes with fewer disclosure requirements and simplified measurement. FRS 102 is the standard used by a much wider range of companies and generally involves more detailed recognition, measurement and disclosure. Choosing between them depends on whether your company qualifies for the micro-entities regime and whether the reduced reporting is appropriate for its circumstances.

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

Yes, statutory accounts — including accounts prepared under FRS 105 for a company applying the micro-entities regime — form part of a company's annual filing obligations at Companies House, alongside separate filings such as the Confirmation Statement. Filing formats and requirements can change over time, so it is worth checking current Companies House guidance for the period you are filing. Preparing statutory accounts and submitting the filing are distinct steps, and both need to be handled correctly.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime, while the CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate what tax is due. The accounts often provide the starting point for the tax computation, but the two are different documents with different purposes and different deadlines, so it is important not to treat one as a substitute for the other.

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

Typically you would provide bank statements and reconciliations for the period, sales and purchase records, payroll information, details of any loans, leases or hire purchase agreements, records of fixed assets and depreciation, stock or work in progress figures where relevant, and any previous year's accounts. Details of the company's structure and share capital are also useful. Having this information complete and well organised makes the preparation of FRS 105 Micro Entity Accounts more straightforward and reduces the number of queries raised along the way.