─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Urmston

If your company is a qualifying micro-entity and has chosen to apply the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the UK accounting standard written specifically for the smallest companies, allowing simpler financial statements than those prepared under FRS 102. In Urmston, we help directors and business owners understand whether the regime is appropriate for their circumstances and prepare their FRS 105 Micro Entity Accounts from their financial records, so the figures presented reflect the company’s trading activity and position. Professional preparation helps ensure the accounts are built on the correct framework, that the disclosure requirements of that framework are followed, and that the information is presented in a way that is consistent with what Companies House expects to receive. Eligibility is not automatic, and the regime comes with its own rules and exclusions, so it is worth reviewing your position before the year end rather than after it.

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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 Accounting Standard Behind Micro-Entity Accounts

FRS 105 is the financial reporting standard in the UK that applies to companies choosing to use the micro-entities regime. In plain terms, it is the rulebook for how the smallest companies prepare their annual financial statements. Where a qualifying company chooses the micro-entities regime, FRS 105 applies, and that means the accounts can be prepared on a simpler basis than full UK GAAP. A key feature is that FRS 105 accounts are prepared on a historical cost basis and generally do not require the fair value adjustments or the broader disclosure notes that larger frameworks demand, which keeps the financial statements shorter and more straightforward. The accounts still need to give a true and fair view of the company’s position and must follow the presentation and disclosure requirements of the standard. For directors in Urmston, the practical benefit is a clearer, more concise set of financial statements that reflects the reality of a small trading company without unnecessary complexity. The important point to remember is that the micro-entities regime is a choice available to qualifying companies — it is not something that applies to everyone, and FRS 105 only comes into play when that regime has been selected.

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

FRS 105 is designed for companies that qualify for the UK micro-entities regime and that choose to apply it. Qualifying is a two-part question: first, whether the company meets the relevant size conditions, and second, whether any exclusion applies that would prevent it from using the regime. 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. Meeting those size conditions is an important part of the picture, but it is not the whole test, and it does not guarantee eligibility on its own. Certain companies are excluded from the micro-entities regime regardless of their size, and the rules around group structures, the nature of the business and the types of accounts being prepared can all affect the position. For a company in Urmston, the practical approach is to review the actual figures for the accounting period alongside the applicable rules before deciding whether FRS 105 Micro Entity Accounts are appropriate, rather than assuming that being a small business automatically means the regime is available.

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

FRS 105 Micro Entity Accounts need to be built from accurate records, and that is where careful, professional preparation makes a real difference. We start with your bookkeeping, bank records, invoices, receipts and any other supporting information for the accounting period, then use those figures to prepare financial statements under the FRS 105 framework. The accounts themselves — the balance sheet, the profit and loss account and any required notes — are then prepared for the company’s approval and, where required, submitted to Companies House. It is important to keep this separate from your Corporation Tax position: filing accounts with Companies House and submitting a Corporation Tax Return (CT600) to HMRC are two distinct obligations, with different deadlines, different formats and different information requirements. Preparing your FRS 105 Micro Entity Accounts carefully supports accurate financial reporting and helps make sure the figures used elsewhere, including in your tax filing, are consistent with the accounts you have filed. We cannot guarantee any particular filing outcome, but we can make sure the accounts are prepared methodically from the information you provide and in line with the applicable reporting requirements.

ICAEW

ACCA

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

If you would like help preparing your FRS 105 Micro Entity Accounts, or you are simply unsure whether the micro-entities regime is the right route for your company, get in touch and let’s talk it through. Tell us a little about your company — what it does, how it is structured, when your accounting period ends and roughly what your turnover, balance sheet total and employee numbers look like — and we can review whether FRS 105 is likely to be available to you and what the preparation process would involve. Bring along your bookkeeping records, bank statements and any previously filed accounts, and we will explain the steps, the information we need and what is involved in getting your financial statements ready. There is no pressure and no jargon; just a straightforward conversation about your circumstances and the options open to 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 that applies to companies which qualify for, and choose to apply, the micro-entities regime. It sets out how the smallest companies prepare their annual financial statements, including what the balance sheet and profit and loss account should look like and which notes are required. It is a simpler framework than the standards used by larger companies, which is precisely why it exists — micro-entities should not have to comply with reporting requirements designed for businesses many times their size.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that decide to apply the micro-entities regime. Qualifying involves meeting the relevant size conditions and also not being 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 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. Other rules and exclusions apply, so meeting the size tests on their own does not automatically mean a company is eligible or that FRS 105 is the right choice for it.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. Even where a company qualifies as a micro-entity, it can choose to prepare its accounts under a different framework instead — for example under FRS 102. Choosing FRS 105 is a decision that should take into account the company's circumstances, who relies on the accounts and whether the simplified reporting basis suits its needs. It is a selection you make, not something that is imposed simply because your company happens to be small.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are written for different sizes of company. FRS 105 is the micro-entities standard and offers the most simplified reporting basis, with historical cost accounting and a much lighter set of disclosure requirements. FRS 102 is the standard for larger small companies and other entities, and it involves more detailed recognition, measurement and disclosure requirements, including options such as revaluation and fair value measurement that FRS 105 does not provide. In practice, FRS 105 accounts are shorter and less complex, while FRS 102 accounts give a fuller picture that may be more appropriate for companies with investors, lenders or more complicated transactions.

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

Yes. Where a company prepares FRS 105 Micro Entity Accounts, those accounts form the basis of the annual accounts that the company files at Companies House, subject to the filing requirements that apply to it. Filing accounts at Companies House is a separate obligation from dealing with HMRC. The accounts are also approved by the company's directors before filing, so it is important to review the figures and the presentation rather than treating the filing as a purely administrative step. The format and content requirements for filed accounts differ from what you might prepare for internal management use.

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

Yes, and it is worth keeping the two clearly apart. FRS 105 Micro Entity Accounts relate to the accounting and financial reporting framework and are prepared for the company and, where relevant, filed at Companies House. A Corporation Tax Return, known as a CT600, is a separate filing submitted to HMRC to report the company's taxable profits and calculate the tax due, and it is submitted by the company together with its computations. The figures in the two should be consistent with one another, but the documents themselves serve different purposes, go to different bodies and follow different rules.

Can a new limited company use FRS 105?

A newly incorporated company can apply the micro-entities regime if it meets the relevant eligibility conditions for its accounting period and is not excluded for another reason. New companies often have modest turnover, a small balance sheet and very few employees, which can mean the size conditions are met, but eligibility is assessed on the actual position for the period in question rather than on an assumption. It is a good idea to confirm the position before preparing the first set of accounts, because the framework you choose affects how those accounts are presented from the outset.

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

We normally need your bookkeeping records or a summary of income and expenses for the accounting period, bank and credit card statements, supplier invoices and receipts, sales records, details of any assets owned by the company, and information about loans, director's loans and share capital. Details of stock or work in progress, payroll records and any previously filed accounts are also helpful. The more complete and organised the records are, the more straightforward the preparation process tends to be, so it is worth keeping everything together as the year progresses rather than saving it all up until the period ends.