─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Spinningfields

FRS 105 Micro Entity Accounts in Spinningfields are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. FRS 105 is a distinct, simplified framework: it sets out how the accounts of a qualifying micro-entity are recognised, measured and presented, and it substantially reduces the volume of disclosure required compared with fuller reporting standards. Choosing the regime is a decision for the company rather than an automatic consequence of being small, and eligibility depends on meeting the applicable size conditions as well as any other rules and exclusions that may apply. Professional preparation helps to make sure your accounts reflect your actual financial records, are prepared on a basis appropriate to FRS 105 rather than an unsuitable framework, and are presented in a format that meets the reporting requirements for a micro-entity. If you run a small company in Spinningfields and want to understand whether FRS 105 Micro Entity Accounts suit your circumstances, we can review your position and explain the available options clearly.

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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: The Micro-Entities Regime and What It Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified accounting framework that qualifying companies can use instead of the fuller standards that larger businesses apply. It sits alongside the UK micro-entities regime, which is an accounting regime a company may choose to adopt; FRS 105 applies when that regime is used. Under FRS 105, the financial statements are built on the company’s own records using a straightforward recognition and measurement approach, and the disclosure requirements are kept deliberately short, so the accounts are usually shorter and simpler than accounts prepared under a standard such as FRS 102. A typical set of FRS 105 Micro Entity Accounts includes a balance sheet, a profit and loss account, and a small number of notes covering the essentials. What FRS 105 does not do is change the underlying numbers you report or replace your other filing obligations: your accounts, your Companies House filing and your Corporation Tax position are connected but distinct. For companies in Spinningfields, the practical question is usually whether the micro-entities regime is available to them and whether adopting it is the right fit for how they report.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that both qualify for the micro-entities regime and choose to apply it — eligibility and election are two separate steps. On the size test, for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of 3 applicable conditions, subject to the relevant rules and exclusions: 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 a starting point rather than a guarantee. The micro-entities regime is not open to certain types of company, and other rules and exclusions can affect whether a company qualifies in a given period, so the thresholds alone should never be treated as a definitive answer. In practice, this means a company in Spinningfields that comfortably sits below the size limits may still need its position checked before FRS 105 Micro Entity Accounts are prepared, and a company close to a limit needs to consider the position period by period rather than assuming it never changes.

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 with Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts start with your own financial records — bookkeeping, bank and payment records, sales and purchase documentation, payroll information and asset details — and turn them into a coherent set of financial statements. The work involves confirming that the company appears to qualify for the micro-entities regime, applying the FRS 105 recognition and measurement rules consistently, preparing the balance sheet, profit and loss account and supporting notes, and checking that the figures agree back to the underlying records. It is also important to keep the different obligations separate: preparing and filing the financial statements with Companies House is one requirement, while a Corporation Tax Return (CT600) is a separate submission to HMRC dealing with the company’s tax position. Good accounts preparation supports both, because the financial statements provide the starting point for the tax computation, but the two are not the same document and are not filed in the same place. Our role in Spinningfields is to prepare FRS 105 accounts carefully and transparently, explain the judgements involved, and make sure you understand what is being filed and why. We do not claim that Companies House or HMRC approves or endorses any set of accounts, and no adviser can guarantee a particular filing outcome — what we can do is prepare your FRS 105 Micro Entity Accounts diligently and based on the information you provide.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Spinningfields

If your company may qualify for the micro-entities regime, or you are already preparing FRS 105 Micro Entity Accounts and would like them handled carefully and clearly explained, we would be glad to help. Get in touch and tell us about your company — what it does, how it is structured, the period you need accounts for, how your records are kept and whether you are also dealing with a Corporation Tax Return — and we can assess your circumstances and set out the sensible next steps. We offer clear, transparent pricing and fixed-fee options depending on the scope of work you need, so you know what you are paying for before anything begins. There is no obligation and no pressure: a short conversation about your FRS 105 Micro Entity Accounts is usually the fastest way to work out whether the micro-entities regime is right for you.

─── 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-entities. It is a simplified framework that sets out how a qualifying micro-entity recognises, measures and presents its financial statements, with far fewer disclosure requirements than a standard such as FRS 102. It applies when a company qualifies for the UK micro-entities regime and chooses to adopt it, rather than being a framework that every small company must use.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are intended for companies that qualify for the micro-entities regime and decide to apply it. Eligibility is not only about size — there are other rules and exclusions, and some companies are prevented from using the regime regardless of their turnover or balance sheet position. Because of this, it is worth checking your specific circumstances rather than assuming that being small is enough.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available regime, not an obligation. A qualifying company may choose to apply it, and FRS 105 applies when that choice is made; alternatively, a company may report under a fuller standard where that suits its circumstances better. If your accounts are prepared for a third party such as a lender or an investor, their requirements may also influence which framework is appropriate.

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, subject to the relevant rules and exclusions: 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 alone does not automatically make a company eligible, because other rules and exclusions can apply, so it is sensible to have your position reviewed.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are built for different sizes of company. FRS 102 is the fuller framework used by many small and larger entities and allows a wider range of accounting policies, fair value measurement in certain cases and more extensive disclosures. FRS 105 is deliberately simpler: it limits the accounting options available, takes a more straightforward approach to measurement, and requires much less disclosure, which is why FRS 105 Micro Entity Accounts are usually noticeably shorter than FRS 102 accounts.

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

Yes — where the company is required to file annual accounts, the financial statements prepared under FRS 105 form the accounts that are delivered to Companies House, within the statutory deadline that applies to that company. Filing is done in the required format and, increasingly, through compatible software. Requirements for small and micro companies are changing, including a move towards greater visibility of profit and loss information, so it is worth confirming what applies to your particular accounting period.

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

Yes, they are separate requirements. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, and it deals with the company's tax position, including adjustments that are not part of the accounts themselves. Your FRS 105 accounts normally provide the starting point for the tax computation, but preparing the accounts is not the same as filing the tax return.

What information do you need to prepare FRS 105 Micro Entity Accounts?

We usually need your bookkeeping or accounting records for the period, bank and payment provider statements, sales and purchase information, payroll details, records of any assets owned or disposed of, details of loans and balances owed, and the previous year's accounts where relevant. If you keep records digitally, granting access to your bookkeeping software is often the quickest route. The more complete the records, the fewer questions arise during preparation.