─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Sheffield

FRS 105 Micro Entity Accounts in Sheffield are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. FRS 105 is a simplified framework, allowing eligible companies to prepare straightforward financial statements — typically a balance sheet, supporting notes and any required disclosures — with far less detail than reporting regimes designed for larger businesses. Professional preparation helps apply that framework to your company’s own circumstances, taking account of your trading activity, the quality of your accounting records, transactions and events during the period, and the applicable legal and reporting requirements. It is important to be clear that meeting the micro-entity size criteria does not automatically mean a company must, or may, use FRS 105; other eligibility rules and exclusions can be relevant. Reviewing your position before preparation begins helps ensure the accounts are approached correctly from the outset, and keeps the distinction clear between preparing FRS 105 Micro Entity Accounts and your other separate 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  
   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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard written for the smallest companies. It sits within UK GAAP alongside standards such as FRS 102, but it is deliberately simpler: qualifying companies that choose to apply the micro-entities regime prepare their financial statements under FRS 105, which means fewer disclosures and a more prescriptive set of accounting treatments. In practice, a set of FRS 105 Micro Entity Accounts usually centres on a balance sheet showing what the company owns and owes, together with a small number of notes and the statements and confirmations that accompany the accounts. The important point is that the micro-entities regime is an available accounting regime rather than an automatic one — a company needs to qualify for it and then choose it, and FRS 105 applies when that choice is made. For directors in Sheffield weighing up how to report, understanding this link between the regime and the standard is the first step towards accounts that are clear, consistent and appropriate for their company.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility Explained

FRS 105 is available to 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 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. Meeting those conditions is an important part of the picture, but it is not the entire test. Other eligibility rules and exclusions can apply, and some companies are excluded from the regime altogether, so a company that satisfies the size thresholds will not necessarily be eligible. Different thresholds may also be relevant to accounting periods beginning before 6 April 2025. The practical outcome is that eligibility should be assessed for your company specifically, ideally before accounts preparation begins, so that the framework used for your FRS 105 Micro Entity Accounts genuinely fits your circumstances.

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 in Sheffield

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records. We work from your bookkeeping, bank information, sales and purchase records, payroll details and asset information, then build the financial statements in line with the applicable reporting requirements for a company using the micro-entities regime. That means the figures behind your balance sheet, notes and any accompanying statements are pulled together consistently and supported by the underlying records. It is also worth separating the pieces of the puzzle clearly: preparing the financial statements, filing accounts with Companies House, and dealing with Corporation Tax obligations are distinct tasks. A CT600 is a Corporation Tax Return submitted to HMRC, not an accounting standard, and it is not the same document as your FRS 105 accounts — although the two are related, because the tax return is generally prepared using the figures from the accounts. We can help you keep those obligations organised so nothing is overlooked. No preparation service can promise a particular outcome or guaranteed acceptance of anything filed, but careful, records-based work gives your accounts a sound foundation and makes the process far less stressful.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Sheffield

If your company may qualify for the micro-entities regime, or you are already preparing FRS 105 Micro Entity Accounts and want them handled carefully, get in touch to talk through your requirements. The most useful starting point is a short conversation about your company: its trading activity, your accounting period, how your records are kept, and whether the micro-entity size conditions are likely to be met. From there, we can look at what information is needed to prepare your accounts — typically your bookkeeping or accounting records, bank and finance information, payroll details, asset records and your previous year’s accounts — and explain how preparation, Companies House filing and your separate Corporation Tax obligations fit together. We offer clear, transparent pricing and fixed-fee options, so you know where you stand before work begins. Share a little about your circumstances and we will help you decide on the sensible next step for 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 part of UK GAAP and is designed to keep reporting straightforward for the smallest companies, with a prescriptive approach to accounting treatments and substantially reduced disclosure requirements compared with standards such as FRS 102. When a qualifying company chooses the micro-entities regime, its financial statements are prepared under FRS 105 — which is why the standard and the regime are so closely linked.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the micro-entities regime and choose to apply it. Qualifying generally depends on the company meeting at least 2 of 3 size conditions, but the size tests are not the whole story: other eligibility rules and specific exclusions can also apply, and certain companies cannot use the regime regardless of their size. Because eligibility depends on your company's own facts, it is worth checking your position rather than assuming the regime is available.

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 for it still has a choice about which reporting framework to use, and FRS 105 only applies where the micro-entities regime is actually chosen. Some companies prefer a different framework because of their particular circumstances, such as the level of disclosure they want or requirements arising from their wider reporting environment. The decision is normally made by the directors with professional input.

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. Meeting those size conditions is not on its own a guarantee of eligibility, because further rules and exclusions can apply, and different thresholds may be relevant to earlier accounting periods. Your company's individual position should always be assessed.

What is the difference between FRS 105 and FRS 102?

Both sit within UK GAAP, but they are aimed at very different sizes of company. FRS 105 is the micro-entities standard: it is deliberately minimal, with few accounting options and a short list of required disclosures, and there is no requirement for the same depth of narrative reporting. FRS 102 is the standard used more widely across small and larger entities, offering greater flexibility in how transactions are accounted for but requiring significantly more disclosure. In short, FRS 105 trades flexibility for simplicity.

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

Where a company prepares accounts under FRS 105 and is required to file accounts, those accounts are filed at Companies House using the appropriate micro-entity filing format. Preparing the accounts and filing them are two distinct steps, and the filing obligations depend on your company's circumstances and accounting reference date, so it is worth confirming the position for your own year end rather than relying on a general rule of thumb. Filing accounts at Companies House is also separate from anything sent to HMRC.

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

Yes, they are separate documents serving different purposes. Your FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime; a CT600 is a Corporation Tax Return submitted to HMRC. The two are related in practice, because the tax return is generally prepared using figures taken from the accounts, with adjustments where the tax rules require them. Keeping accounts preparation and tax filing clearly separated in your planning helps avoid confusion over what is due, to whom, and when.

What information is needed to prepare FRS 105 accounts?

Preparation normally starts with your financial records for the accounting period: bookkeeping or a trial balance, bank statements and reconciliations, sales and purchase records, payroll information, details of assets and any loans or director's account movements, plus the previous year's accounts for comparison. It also helps to know your company's structure, accounting period and whether there have been any unusual transactions or changes during the year. Having these items reasonably organised means the accounts can be prepared efficiently and the figures properly supported.