─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Sherburn Hill

If you run a small company in Sherburn Hill, FRS 105 Micro Entity Accounts may be the simplest way to prepare and file your annual financial statements. FRS 105 is the UK financial reporting standard that applies when a company qualifies for the micro-entities regime and chooses to use it, giving qualifying businesses a streamlined alternative to the fuller requirements of other standards. In practice, that means shorter accounts, fewer disclosures and a set of financial statements built around the information that genuinely matters for a micro-entity. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together properly for your company’s own circumstances — from the figures in your records through to the format used for filing. We work with directors in and around Sherburn Hill to review the underlying bookkeeping, confirm the basis on which the accounts should be prepared, and produce financial statements that reflect the company’s trading position clearly and consistently.

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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 It Means for Micro-Entities in Sherburn Hill

FRS 105 is the financial reporting standard used by UK companies that apply the micro-entities regime — a simplified accounting framework created for the smallest businesses. In plain terms, it sets out how a micro-entity should prepare its annual accounts, including the format of the balance sheet and profit and loss account, the accounting rules it follows and the limited notes that accompany the figures. The important point is that FRS 105 is tied to the micro-entities regime. A company does not simply ‘become’ an FRS 105 company: it first needs to qualify as a micro-entity under the relevant size conditions and other eligibility rules, and then it needs to choose to apply that regime. Once the micro-entities regime is adopted, FRS 105 is the standard that applies to the accounts. The upside for qualifying companies in Sherburn Hill is a reporting framework that is proportionate to a small operation, with less disclosure and a more straightforward presentation than the fuller standards used by larger companies. The trade-off is that the accounts are prepared on a specific, simplified basis, so it is worth understanding what that means for how your figures are presented before you decide.

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

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. Two things therefore have to line up: the company must fall within the eligibility rules, and its directors must decide to adopt the regime for the accounts in question. On the size side, 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 during the period. These figures are a starting point rather than the whole answer. Other eligibility rules and exclusions can apply, and certain companies may be prevented from using the regime regardless of their size, so meeting the thresholds on their own does not guarantee that FRS 105 is available. Directors in Sherburn Hill should also consider the practical side of the decision: whether a simpler set of financial statements suits the way the company reports, and whether comparability with previous accounts or with lenders and other parties matters. Reviewing eligibility each year is sensible, because a change in turnover, balance sheet total or headcount can affect which regime the company can use.

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 in Sherburn Hill

FRS 105 Micro Entity Accounts are prepared from your company’s financial records and in line with the reporting requirements that apply to a micro-entity. That starts with accurate bookkeeping — sales, purchases, expenses, payroll, asset purchases and any financing arrangements — and then moves into presenting those figures in the format FRS 105 requires. Professional preparation means the accounts are built on a consistent basis, that the accounting policies used are appropriate to the company, and that the figures reconcile with the records they are drawn from. It is also important to keep the different filing obligations clearly separated. Filing financial statements with Companies House is one process; meeting your Corporation Tax obligations is another matter entirely, dealt with through a separate submission to HMRC. Preparing FRS 105 Micro Entity Accounts does not by itself settle your Corporation Tax position, and the two should be handled alongside each other so the figures tell a consistent story. We approach each set of accounts on its own merits, working through the company’s circumstances rather than applying a one-size-fits-all template, and we explain what has been prepared and why along the way.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Sherburn Hill

Whether you are preparing your first set of accounts or looking for a cleaner way to handle your annual reporting, we can help you work through your FRS 105 Micro Entity Accounts from start to finish. Get in touch to talk about your company — its trading activity, the records you hold, your accounting period and what you already file — and we will assess how your circumstances fit the micro-entities regime and what is needed to prepare the accounts. If you can share your bookkeeping, bank and payroll information, details of any assets or loans, and copies of previous accounts, that gives us a clear picture to work from. There is no obligation and no pressure: the first step is simply a conversation about where your company stands and what support would be most useful.

─── 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 the accounting rules and the limited disclosures that a micro-entity must include in its annual financial statements, along with the presentation of the balance sheet and profit and loss account. It is deliberately simpler than the standards used by larger companies, with fewer disclosure requirements and a more streamlined format, so that the accounts stay proportionate to the size of the business.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is only part of the picture — a company also has to decide to adopt the micro-entities regime rather than preparing accounts under a fuller standard. Meeting the size conditions is generally necessary but not always sufficient on its own, because certain types of company and certain circumstances can affect whether the regime is available. It is worth checking your specific position before assuming FRS 105 applies to you.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying as a micro-entity does not force you to use FRS 105. The micro-entities regime is an available accounting regime for qualifying companies, and FRS 105 applies when that regime is chosen. A company that qualifies may instead prepare its accounts under a fuller framework such as FRS 102, depending on its circumstances and what its directors consider appropriate. The choice can affect how the accounts look and how easily they compare with those of other companies, so it is worth thinking about rather than defaulting either way.

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. These conditions sit alongside other eligibility rules and exclusions, so meeting the size tests does not automatically mean the micro-entities regime is available. Companies that were previously eligible should also review their position, since the conditions have changed.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of UK companies, with more detailed recognition and measurement rules and considerably more disclosure requirements. FRS 105 is the micro-entities standard, which is far more concise and avoids much of that complexity — for example, it does not permit revaluation of tangible fixed assets or recognise deferred tax in the way a fuller framework might. In short, FRS 105 gives qualifying micro-entities a simpler route to producing accounts, while FRS 102 provides a more comprehensive framework where that level of detail is needed or preferred.

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

Yes, where the company is required to file annual accounts. A company within the micro-entities regime normally prepares and files micro-entity accounts with Companies House within the statutory filing deadline for its accounting period. Filing the accounts is one obligation; it does not replace any other filing your company has to make. Keeping your records tidy throughout the year makes the filing process considerably more straightforward when the deadline approaches.

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

Yes, they are two distinct filings. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted separately to HMRC to report the company's taxable profits and calculate what is due. The figures in the two documents are usually drawn from the same underlying records, but preparing and filing the accounts does not satisfy the Corporation Tax obligation, and the CT600 serves a different purpose.

Can a new limited company use FRS 105?

A newly incorporated company may be able to apply the micro-entities regime in its first accounting period if it meets the relevant size conditions and is not excluded from doing so. It is not automatic, and the position can depend on the company's circumstances, so it is worth confirming before the first set of accounts is prepared. Getting this right early helps establish a consistent accounting basis that can carry through to later periods.