─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Settle

FRS 105 Micro Entity Accounts in Settle are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 sets out how a qualifying micro-entity’s financial statements should be drawn up, covering what those statements contain and the limited disclosures permitted under the framework. Professional preparation works from your company’s own financial records so the accounts reflect your circumstances appropriately, the figures are consistent with the rest of your filings, and the format used matches the regime the company has actually chosen. Eligibility is not automatic: a company has to meet the relevant size conditions and satisfy any other applicable rules, and some companies are excluded entirely. That is why a sensible first step is a short review of your company’s position, trading activity and reporting requirements before any accounts are drafted, so the framework applied is the right one from the outset.

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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  
   Based on 300 reviews 
    
 
 
 
   
 
 
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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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   3rd Hub 
 
 
 
 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: What the Micro-Entities Regime Means for Your Accounts

FRS 105 is the UK financial reporting standard that applies to micro-entity accounts. It sits within the micro-entities regime — a simplified accounting framework available to companies that qualify for it and choose to use it. In plain terms, when a company qualifies as a micro-entity and elects to apply that regime, FRS 105 is the standard used to prepare its annual financial statements. The thinking behind it is straightforward: qualifying micro-entities are not required to apply the more detailed recognition and measurement rules used by larger companies, and they benefit from shorter, simpler financial statements — typically a balance sheet with limited notes rather than the extensive disclosures required under fuller standards. The company still needs to keep proper accounting records, not least because its tax position has to be worked out separately. Two points are worth holding on to: the micro-entities regime is optional rather than something imposed on a company, and FRS 105 applies specifically when that regime is chosen. For anyone in Settle looking at FRS 105 Micro Entity Accounts, that means the framework, the presentation and the underlying records all need to line up.

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

FRS 105 Micro Entity Accounts in Settle are aimed at 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 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. Passing the size tests is not the whole story. Other eligibility rules and exclusions can apply — some entity types cannot use the small companies regime at all, and the rules on groups and associated entities can affect which framework is available — so the tests must be considered carefully rather than treated as a simple tick-box. Qualifying is only half of the decision: the micro-entities regime is an accounting framework a company may choose, not one that is automatically imposed. Where a company qualifies and elects to use it, FRS 105 is the standard its accounts are prepared under; where it does not qualify, or decides the regime is not right for its circumstances, another framework such as FRS 102 is likely to apply. Working through that decision early keeps your reporting on the right footing.

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.

Accurate FRS 105 Micro Entity Accounts, Prepared From Your Records

Preparing FRS 105 Micro Entity Accounts properly starts with complete, accurate financial records and applies the accounting framework that fits your company’s circumstances. In practice that means working through income and expenses, bank and cash records, sales and purchase information, asset and liability balances, and supporting documentation such as loan agreements or movements on director’s accounts — then producing financial statements that are internally consistent and clearly presented. It is worth being precise about the different steps involved: the preparation of the financial statements and the submission of those accounts to Companies House are separate from your Corporation Tax obligations. A Company Tax Return (CT600) is a separate filing made to HMRC and is not the same thing as your FRS 105 Micro Entity Accounts, even though the two are related in practice. We handle the accounts side of that picture and can work alongside whoever deals with your tax filings so the numbers stay consistent. No accounting service can promise a particular outcome or guarantee that a third party will accept a filing, but careful preparation from a clear set of records gives you a solid basis for what you submit.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Settle

If you are weighing up whether your company qualifies for the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared accurately and on time, get in touch and talk it through. It helps to have a few things ready: your latest set of accounts, details of your accounting period, up-to-date bookkeeping or bank records, information on any assets, loans or director’s account movements, and a note of any changes in the business over the year. Tell us about your company — what it does, how it is structured, and what you need from your accounts — and we can consider your circumstances and explain the options in plain English, including clear, transparent pricing for the work involved. There is no obligation, and no jargon.

─── 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-entity accounts. It is published by the Financial Reporting Council and forms part of the micro-entities regime, the simplified accounting framework that qualifying companies can choose to apply. Where a company qualifies and elects to use that regime, FRS 105 is the standard its financial statements are prepared under. It is deliberately shorter and simpler than the frameworks used by larger companies, with fewer disclosures and a streamlined format.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. The regime is not open to every small company: some entity types are excluded from the small companies regime altogether, and group structures or associated entities can affect the position. Meeting the size tests alone does not automatically mean a company must — or may — use the regime. In practice, eligibility and suitability are usually confirmed by reviewing the company's specific circumstances against the applicable rules before the accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option rather than a requirement, so a qualifying company can decide whether applying it suits its circumstances and its stakeholders. Other frameworks, such as FRS 102, may be more appropriate depending on the company's activities, its reporting needs and the expectations of lenders, investors or others who use the accounts. What matters is that the framework chosen is applied properly and consistently, because FRS 105 is a formal standard with its own rules rather than a free-form approach.

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 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 are the headline tests, but they are not the whole story. Other eligibility rules and exclusions can apply, and the tests need to be assessed against the correct accounting period and the relevant rules on groups and associated entities, so it is worth checking your position rather than assuming.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a wide range of UK entities, including many small companies preparing small-entity accounts. It involves more detailed recognition and measurement requirements and a broader set of disclosures than FRS 105. FRS 105 is the most simplified framework available; it is reserved for qualifying micro-entities that choose the micro-entities regime. In short, FRS 105 gives a lighter reporting burden, while FRS 102 gives a more detailed picture — and the right choice depends on whether the company qualifies and what the accounts are used for.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Where a company is required to file annual accounts, the accounts prepared under FRS 105 are the ones submitted to Companies House, within the statutory filing deadline for the period. Filing the accounts is a separate exercise from calculating and reporting tax, and the format submitted needs to match the regime applied. Dormant or non-trading companies can have different filing considerations, so it is worth confirming what applies to your company rather than assuming the position is the same for everyone.

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

Yes, they are two distinct filings. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime and, where required, filed with Companies House. A Company Tax Return (CT600) is a Corporation Tax filing submitted to HMRC, and the figures in it can differ from those in the accounts because the tax rules are not the same as the accounting framework. The accounts usually provide a starting point for the tax computation, but the two documents serve different purposes and go to different places.

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

Most of what is needed comes from your bookkeeping and company records: sales and purchase information, bank and cash statements, expense receipts, payroll details, asset purchases and disposals, loan or finance agreements, and any movements on director's accounts. It also helps to have your previous year's accounts, the exact accounting period dates, details of share capital and any changes to the company's structure or activities during the year. The cleaner and more complete those records are, the more straightforward the accounts preparation tends to be.