─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Saltburn-by-the-Sea

If you run a small limited company in Saltburn-by-the-Sea, FRS 105 Micro Entity Accounts may be the simplest statutory reporting route available to you. FRS 105 is the financial reporting framework that applies when a company qualifies for, and chooses to adopt, the UK micro-entities regime. It allows eligible companies to prepare straightforward financial statements based on historical cost, with a reduced set of disclosures compared with larger reporting frameworks. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are presented consistently with the framework, that the balance sheet and supporting notes reflect your underlying records, and that the accounts are ready for the relevant filing and tax processes. Eligibility is not automatic — a company must satisfy the applicable size conditions and must not fall within any of the exclusions — so it is worth confirming your position before you commit to the regime. Whether you are newly incorporated, trading steadily, or moving across from a different framework, we can help you understand what FRS 105 Micro Entity Accounts involve and how they fit alongside your wider filing obligations.

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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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   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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is a stripped-back accounting framework: assets and liabilities are generally measured at historical cost, fair value accounting and asset revaluations are not used, deferred tax is not recognised, and the number of disclosures required in the financial statements is far smaller than under the frameworks used by larger companies. The standard sits alongside the UK micro-entities regime set out in company law, which allows qualifying companies to prepare and file simplified accounts. It is important to understand that the regime is a choice, not an automatic entitlement. A company that meets the size conditions may decide to use the micro-entities regime, and when it does, FRS 105 is the standard it applies. Another qualifying company might instead choose a different framework for reasons such as the needs of lenders, investors or group reporting. For a small company in Saltburn-by-the-Sea, FRS 105 Micro Entity Accounts usually mean a concise balance sheet, a small number of notes, and less accounting complexity overall — which is why many owner-managed businesses find it appealing.

Who Can Use FRS 105 in the UK? Eligibility and the Micro-Entities Regime

FRS 105 is intended for companies in the UK that qualify for the micro-entities regime and then decide to apply it. Qualifying is a two-part test. First, the company must meet the size conditions. 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. Second, the company must not fall within any of the exclusions that make the micro-entities regime unavailable, and in many cases the size conditions need to have been met in consecutive accounting periods rather than just the current one. It is also important to remember that the regime is a choice: a company that qualifies is not forced to use it. Meeting the thresholds does not automatically guarantee eligibility, because other rules, exclusions and the specific facts of your company all play a part. If you are unsure whether FRS 105 applies to your company, a short review of your figures, structure and circumstances will usually give you a clear answer.

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

Accurate, well-organised figures matter, and that is where careful preparation pays off. When we prepare FRS 105 Micro Entity Accounts, we start from your company’s financial records — bank transactions, sales and purchase information, payroll details, asset purchases, loan agreements and any other relevant documentation — and build the financial statements in line with the reporting requirements that apply to your circumstances. That includes the balance sheet, the supporting notes and the comparative figures for the prior period, presented in the format expected under the micro-entities regime. Preparation of the accounts and the separate act of filing them with Companies House are distinct steps, and both are quite different again from your Corporation Tax obligations. A CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due, whereas FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the accounting framework and filed with Companies House. We can help with the accounting and filing side while keeping your tax position clearly separated, so you know which document goes where and why. Nothing is guaranteed in advance, but a methodical approach to your records gives you the best foundation for financial statements that stand up to scrutiny.

ICAEW

ACCA

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Talk to Us About Your FRS 105 Micro Entity Accounts in Saltburn-by-the-Sea

If you would like help with FRS 105 Micro Entity Accounts, the next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting period and how your records are currently kept, and we can consider whether the micro-entities regime looks suitable for your circumstances. It also helps to have your recent bookkeeping or accounting records, details of any assets, loans or share capital, and a copy of your previous accounts to hand, so the position can be assessed properly. From there, we can explain the options available to you, outline how the preparation process works and provide clear, transparent pricing for the work involved. There is no obligation and no pressure — just practical guidance on your FRS 105 Micro Entity Accounts.

─── 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 is deliberately simplified: assets and liabilities are generally measured at historical cost, fair value measurement and revaluations are not permitted, deferred tax is not recognised, and only a limited set of disclosures is required. The result is shorter, more straightforward financial statements than those produced under frameworks designed for larger businesses.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under UK company law and then choose to apply the micro-entities regime. Qualifying means meeting the relevant size conditions and not falling within any of the exclusions that prevent a company from using the regime. Because eligibility depends on your specific circumstances, it is worth checking your position rather than assuming you qualify simply because your company is small.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option. A company that qualifies may adopt it and therefore apply FRS 105, but it is not obliged to do so. Some qualifying companies prefer to use a different framework — for example FRS 102 — because of lender requirements, investor expectations, group reporting needs or the level of detail they want to disclose. The decision is yours, provided the framework you choose is one you are entitled to use.

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 these 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 during the period. Meeting the size thresholds alone is not the whole picture — other rules and exclusions can affect whether the regime is available, and in many cases the conditions must be satisfied in consecutive periods. Eligibility should therefore be confirmed for each accounting period.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 102 is the standard used by small entities (often under the small companies regime) and by larger companies, and it allows or requires more complex measurement and considerably more disclosure. FRS 105 is the micro-entities standard, with historical cost accounting, no fair value adjustments, no revaluations, no deferred tax and far fewer notes. Put simply, FRS 105 produces simpler accounts, but you must genuinely qualify for the regime to use it.

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

Yes. Where a company prepares micro-entity accounts, those accounts form part of its statutory filing obligations and are filed with Companies House, normally in a simplified form that includes the balance sheet and limited notes. This is separate from anything you send to HMRC. Filing requirements have been changing, with Companies House introducing reforms that are expected to affect how small and micro-entity companies file and what information they include, so it is worth checking the current guidance before each filing.

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

Yes, they are two distinct filings for two different purposes. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which reports your company's taxable profits and calculates the Corporation Tax due. The accounts usually provide the starting point for the tax return, but the documents are prepared for different recipients and follow different rules.

What changes are coming to micro-entity accounts filing?

Companies House has been introducing reforms that are expected to change how small and micro-entity companies file their accounts, including a move towards filing through software and the inclusion of more financial information than the current simplified filing format. The detail and timing of these changes can be refined, so the practical approach is to confirm the position at the time of each filing. We keep the preparation of FRS 105 Micro Entity Accounts aligned with the requirements that apply to your accounting period.