─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Stockport

FRS 105 Micro Entity Accounts 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 the simplest reporting standard available for small companies, and it is built around the recognition and measurement rules of the micro-entities regime rather than the fuller disclosure requirements of larger frameworks. If your company is based in Stockport and you believe it may fall within the micro-entities size criteria, professional preparation of FRS 105 Micro Entity Accounts can help ensure your financial statements reflect your actual records and are put together in line with the applicable reporting requirements. It is important to understand that not every small company qualifies automatically — eligibility depends on the size conditions for the relevant accounting period, along with any exclusions or restrictions that apply to your company. A good accountant will check whether the micro-entities regime is available and appropriate for you, consider whether a different framework might suit your circumstances better, and prepare accounts that are clear, consistent and ready for the next step in your company’s reporting cycle.

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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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 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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 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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for companies that meet the definition of a micro-entity and choose to apply the micro-entities regime. In plain terms, it is the lightest accounting framework available to small limited companies: it sets out how assets, liabilities, income and expenses are recognised and measured, and it allows a much shorter set of financial statements than standards such as FRS 102. When a company qualifies for the micro-entities regime and decides to use it, FRS 105 is the standard that applies — the two go hand in hand. The result is a set of financial statements built around a simple, prescribed format, typically covering a balance sheet, a profit and loss account (which a micro-entity may be able to file in a reduced form), and a small number of notes. For a Stockport company that qualifies and wants straightforward, proportionate reporting, FRS 105 can be a sensible fit. That said, the micro-entities regime is an option rather than a requirement, and choosing it affects how your figures are presented and what is disclosed, so it is worth reviewing the decision rather than assuming it is right for every year.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Size is assessed against the conditions that apply to the relevant accounting period. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. These conditions sit alongside other eligibility rules and exclusions, which means that meeting the size thresholds on their own does not guarantee that a company can or should use FRS 105 — certain entities are excluded from the micro-entities regime, and the position can change from one accounting period to the next. There is also a distinction between being eligible and choosing to apply the regime: a qualifying company may instead prefer a fuller framework such as FRS 102. For a Stockport company weighing up its options, the sensible approach is to look at the actual figures for the period, check whether any exclusions apply, and confirm that FRS 105 is the framework that best fits both the company’s reporting obligations and the needs of its directors, lenders and other users of the accounts.

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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your company’s financial records — bank transactions, sales and purchase invoices, expense receipts, payroll information, asset purchases and any loans or balances owed to or by the company. From that information, a professional accountant can build a balance sheet, a profit and loss account and the limited notes permitted under FRS 105, applying the recognition and measurement rules of the micro-entities regime consistently from one period to the next. It is helpful to keep two separate strands of work in mind. The first is the preparation of the financial statements themselves and their submission to Companies House as part of the company’s annual accounts filing obligation. The second is the Corporation Tax position, which is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC — a CT600 is not the same thing as FRS 105 accounts, even though the two are usually prepared from the same underlying records. Preparation of FRS 105 accounts does not, by itself, guarantee any particular outcome, and acceptance of filed accounts and tax returns is a matter for the relevant authority. What good preparation does provide is accounts that are internally consistent, clearly presented and based on documented figures, so directors in Stockport can understand their company’s position and meet their filing responsibilities with confidence.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Stockport

If you are unsure whether FRS 105 Micro Entity Accounts are the right fit for your company, or you simply want your year-end reporting handled by someone who works with the micro-entities regime regularly, get in touch. Tell us about your company — your accounting period dates, your approximate turnover, balance sheet total and number of employees, the type of business you run, and any unusual transactions or changes during the year — and we can review your circumstances and explain the options available to you. We can talk through whether the micro-entities regime looks suitable for your situation, what information we would need to prepare your FRS 105 financial statements, and how the accounts sit alongside your other filing and Corporation Tax obligations. There is no obligation, and no assumption that FRS 105 is automatically the answer — we will give you a clear view so you can decide how you would like to proceed.

─── 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 entities that qualify as micro-entities and choose to apply the micro-entities regime. It sets out a simplified set of recognition and measurement rules and a short, prescribed format for the financial statements, which typically means a balance sheet, a profit and loss account and a small number of notes. It is closely linked to the micro-entities regime: FRS 105 applies when a qualifying company decides to use that regime.

Who can use FRS 105?

FRS 105 is available to companies that fall within the micro-entities size criteria for the accounting period and are not excluded for another reason. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. Other rules and exclusions apply, so meeting the size conditions on their own does not automatically mean a company is eligible — the position should be reviewed for each accounting period.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime makes FRS 105 available; it does not force a company to use it. A qualifying company can choose the micro-entities regime, in which case FRS 105 applies, or it may prefer a fuller framework such as FRS 102, for example because a lender, investor or group parent wants more detail. The decision is usually worth revisiting as your business grows or your reporting needs change.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in complexity and disclosure. FRS 105 is the micro-entities standard: it uses the micro-entities recognition and measurement rules and permits very short financial statements with minimal notes. FRS 102 is the standard for larger small entities and others, and it generally involves more detailed accounting treatments, more judgements and substantially more disclosure. Choosing between them affects how your figures are presented, so it is worth considering which framework gives the clearest picture of your company.

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

Where a company prepares FRS 105 Micro Entity Accounts as its statutory annual accounts, those accounts form the basis of the company's annual accounts filing with Companies House, within the filing period that applies to the company. The accounts filed must meet the applicable legal and reporting requirements, including any rules on what a micro-entity may or must include. Filing the accounts is a separate obligation from filing a Confirmation Statement, and separate again from dealing with Corporation Tax.

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

Yes. FRS 105 accounts are financial statements prepared under the micro-entities reporting framework, while a CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. They are different documents with different purposes and different recipients, although they are normally prepared from the same accounting records. Preparing tidy FRS 105 accounts often makes completing the CT600 more straightforward, but one does not replace the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity for its accounting period and chooses to apply the micro-entities regime. In the first period, size is usually assessed on the figures for that period, and the period may be longer or shorter than twelve months, which can affect how the tests are applied. Because eligibility depends on the specific facts, it is sensible to confirm the position before preparing the first set of accounts.

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

In most cases you would provide your accounting records for the period — bank and credit card statements, sales invoices, purchase invoices and receipts, payroll details, evidence of asset purchases and disposals, details of any loans or amounts owed, and opening balances or prior year accounts if the company has traded before. It also helps to know your accounting period dates, the nature of your business and whether anything unusual happened during the year, such as a new loan, a significant one-off cost or a change in activity. Clear records make it easier to produce accurate FRS 105 financial statements.

What changes are coming to micro-entity accounts filing?

Company filing requirements have been evolving, with changes affecting how small and micro-entity accounts are prepared and submitted, including a move towards filing accounts and related information in a more structured, digital format. The details and timings matter, and they can differ depending on your company's circumstances and filing software. Rather than relying on second-hand summaries, it is worth confirming the current position for your company's specific accounting period before you prepare and file.