─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Whitby

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that sits within the UK’s micro-entities regime. In Whitby and across the surrounding area, many owner-managed limited companies look at FRS 105 because it offers a simpler, more streamlined set of financial statements than the fuller standards available to larger businesses. That said, FRS 105 is not something every small company can simply adopt — it applies to companies that both qualify as micro-entities and choose to apply the micro-entities regime for their reporting. Eligibility depends on the size criteria for the relevant accounting period, alongside other rules and exclusions that can affect whether a company can use it. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are built correctly from your underlying financial records and presented in line with the applicable reporting requirements, so that the accounts genuinely reflect your company’s circumstances rather than a one-size-fits-all template. Whether you are filing for the first time, changing your accounting framework, or simply want reassurance that your current approach is appropriate, it is worth discussing 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  
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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 a UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a qualifying micro-entity should prepare its annual financial statements — the balance sheet, the profit and loss account, and the notes that accompany them — under a lighter-touch framework than the one used by larger companies. It is closely tied to the UK’s micro-entities regime: the regime is the legal option that allows qualifying companies to report using the reduced disclosure and simplified measurement rules, and FRS 105 is the standard that applies when a company decides to take up that option. Because FRS 105 is a choice rather than a default, a qualifying company can decide whether the micro-entities regime suits its circumstances; where it does, FRS 105 Micro Entity Accounts are the result. Some of the practical differences are worth knowing. FRS 105 generally involves fewer disclosure notes, simpler measurement of certain items, and a more concise set of statements than the fuller frameworks. It is not, however, a shortcut around good bookkeeping — the accounts still need to be built from accurate, complete records and still need to be filed with Companies House in the usual way. Understanding which framework applies to your company, and why, is the starting point for getting FRS 105 Micro Entity Accounts right.

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

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it for their financial reporting. It isn’t a framework that any small company can adopt by preference alone — the company has to meet the eligibility conditions for the relevant accounting period. 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. Companies in Whitby considering FRS 105 Micro Entity Accounts should note that the size tests are only part of the picture. Other eligibility rules and exclusions apply, and some companies are not able to use the micro-entities regime even if their figures fall within the thresholds — for example, where the company is part of a group or falls into a category that the rules exclude. There is also a distinction between qualifying and choosing: a company that qualifies is not obliged to use FRS 105, and may decide that a fuller framework better suits its relationships with lenders, investors or group companies. The practical answer is to look at your company’s position for the specific period in question, taking account of the current rules, rather than assuming that being small means FRS 105 automatically applies.

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 means working from your company’s financial records — bank transactions, sales and purchase records, payroll information, asset details, and any liabilities such as loans or director’s balances — and then presenting them in line with the applicable reporting requirements for the micro-entities regime. Our role is to take that information, apply the right treatment to each item, and produce financial statements that are clear, internally consistent and suitable for filing. It is important to separate two distinct obligations that often get muddled together. Preparing and filing the accounts is one matter: the financial statements are finalised and delivered to Companies House. Corporation Tax is another: the company’s tax position is reported to HMRC separately, typically through a Company Tax Return (CT600), which is a different submission with different deadlines and different information requirements. FRS 105 Micro Entity Accounts do not replace a CT600, and filing a CT600 does not satisfy the accounts filing requirement. Keeping both tracks properly aligned matters, because the figures in your accounts should support the position taken in your tax return. We prepare financial statements based on the records you provide and the reporting framework that applies to your company, and we handle the accounts filing alongside your wider company obligations where that is helpful. We do not claim that any filing is automatically accepted and we cannot guarantee a particular outcome, but we can make sure the work is done carefully, explained clearly, and based on the correct framework for your circumstances.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Whitby

If you run a small limited company in Whitby and want to know whether FRS 105 Micro Entity Accounts are right for you, the best next step is a straightforward conversation. Tell us a little about your company — what it does, when your accounting period ends, roughly where it sits in terms of turnover, balance sheet total and employee numbers, and whether you are already filing under a particular framework. It also helps to know how your records are kept, whether there have been any significant changes during the year such as a new loan, an asset purchase or a change in ownership, and whether your accounts and Corporation Tax filings are currently handled together or separately. With that information we can look at whether your company appears to qualify for the micro-entities regime, explain what choosing FRS 105 would mean in practice, and set out the records we would need to prepare your accounts. There is no obligation and no jargon — just clear, practical guidance on your options and transparent pricing for the work involved, so you can decide what suits your business.

─── 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 sets out how a qualifying micro-entity prepares its annual financial statements under the micro-entities regime, using simplified measurement and reduced disclosure compared with the fuller frameworks. It is the standard that applies when a company qualifies for the micro-entities regime and chooses to use it for its reporting.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualification depends on the size criteria for the relevant accounting period, and other eligibility rules and exclusions can also apply — for example, certain types of company are not eligible regardless of size. Meeting the size tests alone does not automatically mean every company can or should use FRS 105, so it is worth checking your specific position rather than assuming.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option for qualifying companies, not a mandatory one. A company that meets the size criteria can choose to apply it and therefore prepare FRS 105 Micro Entity Accounts, or it may instead report under a fuller framework such as FRS 102. The choice often comes down to what the company needs from its accounts — for instance, whether lenders, investors or group companies require more detailed information.

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 are the size conditions, but they are not the whole test. Other rules and exclusions apply, so qualifying isn't simply a matter of falling under the numbers.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the more streamlined framework for qualifying micro-entities, with fewer disclosures and simplified measurement. FRS 102 is the standard used more broadly, including by small companies that don't qualify for — or choose not to use — the micro-entities regime, and it generally requires more disclosure and more detailed accounting treatment. Choosing between them affects how your accounts look and what information they contain.

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

Yes. Preparing FRS 105 Micro Entity Accounts does not remove the requirement to file annual accounts with Companies House. Micro-entity accounts are filed in the usual way, though the format and content differ from accounts prepared under fuller frameworks. Filing accounts is separate from filing a Company Tax Return (CT600) with HMRC, which is a distinct obligation with its own requirements.

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

Yes, they are two separate things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax filing submitted to HMRC to report the company's taxable profits and calculate the tax due. Both are usually needed, and because they draw on the same underlying figures, it makes sense to prepare them together so the numbers agree.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies as a micro-entity for its accounting period and chooses to apply the micro-entities regime. Because first-year accounts cover a period that may be longer or shorter than twelve months, and because turnover and employee numbers have to be assessed on the right basis, it is worth confirming your position before your first accounts are prepared rather than afterwards.

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

In broad terms, we need your complete financial records for the period: bank statements and reconciliations, sales and purchase information, payroll and employee numbers, details of any assets owned or disposed of, and any loans, director's balances or other liabilities. It also helps to know your accounting period dates, whether you have previously filed accounts, and whether any significant transactions took place during the year. If your records are patchy, we can talk through how to pull the necessary information together.

What changes are coming to micro-entity accounts filing?

The framework for micro-entity reporting has been updated, including revised size thresholds applying to accounting periods beginning on or after 6 April 2025. Changes have also been made to how accounts can be filed, with a move towards filing in a structured digital format rather than a simple PDF or image in many cases. Because the detail depends on your accounting period and how your accounts are prepared, it is sensible to check the current position for your company rather than relying on older guidance.