─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ulverston

If your company qualifies for the UK micro-entities regime and you choose to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your annual accounts. In Ulverston, many owner-managed limited companies find that the micro-entities regime offers a simpler, more streamlined basis for reporting, but the rules around eligibility, disclosure and presentation still need to be applied carefully. Professional preparation of FRS 105 Micro Entity Accounts means your financial statements are built from your own bookkeeping records and shaped around your company’s actual circumstances — its trading activity, its balance sheet, its share structure and any transactions that need particular attention. It also means the accounts are prepared on the correct basis from the outset, rather than being adapted from a different framework later. Whether you are preparing accounts for the first time or switching from another reporting framework, getting the framework right matters, and that is exactly where focused, knowledgeable support helps.

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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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 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 in Plain English

FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime. In simple terms, it is the rulebook used to prepare accounts for very small companies that qualify for the regime and decide to use it. Where FRS 102 is the mainstream framework for most small companies, FRS 105 is deliberately pared back: it works on a historical cost basis, so there is generally no fair value accounting or revaluation of assets, and it keeps disclosure requirements to a minimum so the accounts stay short and readable. That makes FRS 105 Micro Entity Accounts an appealing option for qualifying companies that want straightforward financial statements covering the balance sheet, and — where relevant — the notes that the standard requires. Two points are worth being clear about. First, using the micro-entities regime is a choice, not something that happens automatically once a company is small enough. Second, a company has to actually qualify for the regime in the first place, taking into account the applicable size conditions and any rules or exclusions that apply to its situation. When both of those conditions are met, FRS 105 applies and the accounts are prepared on that basis.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it — qualification and election are two separate steps, and both need to be satisfied. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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 during the period. Those conditions are assessed against the relevant period and the applicable rules, so a company whose trading pattern changes from one year to the next may move in or out of scope. It is important not to treat the size conditions as the whole story. Other eligibility rules and exclusions can apply, and some companies are unable to use the micro-entities regime even where their figures look small enough on paper. Directors also need to consider whether the regime is actually appropriate for their circumstances — for example, where the company has more complex transactions or where a fuller set of disclosures would be useful to lenders, investors or other users of the accounts. For companies in and around Ulverston, we can review the position and explain what FRS 105 Micro Entity Accounts would involve in practice.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is not simply a matter of dropping figures into a template. The accounts need to reflect the company’s underlying financial records accurately and be presented in line with the requirements of the framework, including the correct treatment of items such as fixed assets, debtors, creditors, directors’ loans and share capital. Errors in those areas can be carried forward for years, so it pays to have the figures reviewed properly before the accounts are finalised. It is also worth separating out the different tasks involved. Preparing the financial statements and filing them with Companies House is one job. Dealing with the company’s Corporation Tax position, including the CT600 Corporation Tax Return submitted to HMRC, is a separate exercise with its own rules and deadlines. Good support covers both when needed, but treats them as distinct pieces of work rather than one blended process. Based on your records and the reporting requirements that apply to your company, professionally prepared FRS 105 Micro Entity Accounts give you a clear, well-organised set of financial statements you can stand behind.

ICAEW

ACCA

AAT

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

If you think your company may qualify for the micro-entities regime and want to explore what FRS 105 Micro Entity Accounts would look like in practice, the next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, how long it has been trading and what records you already keep — and we can consider whether the micro-entities regime is likely to be available and suitable for you. Whether you are a director in Ulverston running a small limited company, a new company preparing its first set of accounts, or an established business considering a change of framework, we will explain the options clearly and help you understand what is involved. Bring your bookkeeping records, trial balance or management figures and we can talk through the practical detail. Pricing is set out clearly and transparently, with fixed-fee options available, so there are no surprises along the way.

─── 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 supports the micro-entities regime. It sets out how qualifying micro-entity companies prepare their annual accounts when they choose to use that regime, and it is intentionally simpler than the frameworks used by larger companies. It generally works on a historical cost basis, so assets are not revalued or held at fair value, deferred tax is not recognised in the same way, and the disclosure notes are kept to a minimum. The result is typically a shorter, more readable set of financial statements.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Qualification is based on the size conditions that apply to the accounting period in question, and other eligibility rules and exclusions can affect whether a particular company is able to use the regime. Meeting the size conditions alone does not automatically guarantee eligibility, so it is worth reviewing your company's specific position before choosing a framework.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies for it can generally choose to apply the regime, in which case FRS 105 is the framework used, or it can prepare accounts under a different framework such as FRS 102. The choice usually comes down to what suits the company's circumstances, its transactions and what the directors need from the accounts.

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: 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 are size conditions, not a complete test of eligibility, and the relevant rules and exclusions still need to be considered. If your accounting period started before that date, different thresholds may apply.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the mainstream financial reporting standard used by most UK small companies, and it allows more accounting options — including revaluation of certain assets and a broader set of disclosures. FRS 105 is the framework tied to the micro-entities regime and is far more restricted, using a historical cost basis and requiring much less disclosure. In practice, FRS 105 accounts are usually shorter and simpler, while FRS 102 accounts give a fuller picture and allow more flexibility in how certain items are treated.

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

Yes. Accounts prepared under FRS 105 are the company's annual accounts, and those accounts are filed with Companies House in the usual way. Filing accounts is a separate obligation from the company's Corporation Tax position. It is worth noting that the way accounts are filed is changing, with Companies House moving towards software-based filing and plans for small and micro-entity companies to submit more information than they have historically. The practical effect is that it is becoming more important to prepare the accounts and the filing data together rather than treating them as unrelated tasks.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the accounting framework and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which deals with the company's tax position. The figures in the accounts usually form the starting point for the tax computation, but the two documents serve different purposes, go to different bodies, and have their own rules and deadlines.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but eligibility depends on the size conditions and any exclusions that apply to it. A first accounting period is often shorter than twelve months, which affects how the size conditions are assessed, and the figures for a new company may not be typical of a full trading year. It is sensible to review the position before the first set of accounts is prepared rather than assuming the regime applies.