─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Worksop

FRS 105 Micro Entity Accounts are the statutory financial statements produced under the micro-entities regime for companies that qualify for it and choose to apply it. FRS 105 is the financial reporting standard written specifically for that regime, and it allows qualifying companies to prepare simpler accounts with reduced disclosure compared with larger frameworks. Because eligibility depends on your company’s size and on a number of legal conditions and exclusions, the starting point is always a proper review of your circumstances rather than an assumption that the regime applies. Professional preparation of your FRS 105 Micro Entity Accounts in Worksop means your figures are built up from your bookkeeping and financial records, presented in a format appropriate to a micro-entity, and supported by the notes and statements the framework requires. It also means the accounts you use internally, the accounts approved by the directors, and the accounts filed at Companies House are dealt with as a connected but distinct exercise, with Corporation Tax handled separately.

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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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. In plain terms, the micro-entities regime is a simplified accounting framework available to the smallest companies, and FRS 105 is the rulebook that sits behind it. When a qualifying company chooses that regime, FRS 105 governs how its financial statements are put together — what appears on the balance sheet and profit and loss account, which accounting treatments are permitted, and how much needs to be disclosed in the notes. Compared with the framework used by larger small companies, FRS 105 is deliberately leaner: fewer notes, simpler measurement rules, and a presentation designed to be straightforward for owner-managed businesses. It is worth being clear about what FRS 105 is not. It is not a tax return, it is not a registration or a status you apply for, and choosing it does not change your Corporation Tax obligations. It is simply the accounting and reporting basis for the accounts, and it is available to companies that both qualify for the micro-entities regime and decide to use it. If you are unsure whether your Worksop company is better served by FRS 105 or by a different framework, that is a conversation worth having before your year end rather than after it.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification starts with size. 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. For a company in Worksop, those tests will normally be assessed by reference to the accounting period in question, with additional rules applying to newly incorporated companies and to the first period of trading. Size, however, is only part of the story. The micro-entities regime also carries its own conditions and exclusions, so there are circumstances in which a company that appears to be well within the size thresholds is nonetheless not eligible, and others where a company must step out of the regime. Meeting the thresholds alone should therefore never be treated as confirmation that a company can prepare FRS 105 Micro Entity Accounts. The practical approach is to check the criteria against your specific company and period, confirm there are no exclusions that bite, and only then decide whether to use the regime or to prepare accounts under another standard.

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 is about accuracy and appropriate presentation rather than box-ticking. We work from your accounting records, bank and finance documentation, sales and purchase information, payroll data and any other supporting evidence you hold, then build the financial statements on the basis that applies to your company. That includes considering whether the micro-entities regime is genuinely available to you, whether any transactions need particular treatment under FRS 105, and whether the disclosure requirements have been met in full. Alongside that, it is important to keep the different obligations separate. FRS 105 financial statements are accounts prepared under a financial reporting framework, and where they are filed at Companies House that filing is made under the Companies Act requirements for the relevant company. A Corporation Tax Return, the CT600, is a separate submission made to HMRC and is based on the tax rules rather than the reporting framework. A Confirmation Statement is separate again, and is not part of the accounts at all. Because these obligations have different purposes, deadlines and audiences, treating them as one exercise is where mistakes tend to creep in. Our role is to prepare the accounts carefully and, where relevant, to keep the accounts filing and the tax position clearly distinguished so you know what is being submitted, where, and on what basis.

ICAEW

ACCA

AAT

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

If you run a small limited company in Worksop and want your accounts prepared on a clear, appropriate basis, get in touch to discuss your FRS 105 Micro Entity Accounts requirements. Tell us about your company — its activities, its size over the relevant period, how your records are kept, and whether you have used a particular reporting framework previously — and we can assess whether the micro-entities regime looks available to you and how the accounts should be approached. The more information you can share about your bookkeeping, your year-end position and your wider filing obligations, the more useful our guidance will be. Pricing for accounts preparation is set out clearly and transparently, and we are happy to talk through what is involved before you commit to anything.

─── 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 companies that use the micro-entities regime. It sets out how the financial statements of a qualifying micro-entity are prepared — the format of the balance sheet and profit and loss account, the accounting treatments that are permitted, and the limited disclosures that are required. It is a reporting framework rather than a tax rule or a company status, so it governs the accounts themselves and not your Corporation Tax position.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualification is based on the size criteria together with a set of legal conditions and exclusions, so a company that looks small on the surface does not automatically qualify. Meeting the size tests alone is not a guarantee, and certain companies are excluded from the regime altogether. Because of this, eligibility is something to confirm against your own circumstances before the accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available framework, not a mandatory one. A company that qualifies for it can choose to apply the regime and therefore use FRS 105, or it may decide to prepare its accounts under a different framework such as FRS 102. The right choice depends on the company's circumstances — its transactions, its financing arrangements, and whether the reduced disclosure of the micro-entities regime suits how the accounts will be used.

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 during the period. These are size tests, and other eligibility rules and exclusions also apply. Meeting two of the three thresholds is therefore an important part of the picture but not the whole of it.

What is the difference between FRS 105 and FRS 102?

Both are financial reporting standards, but they are written for different sizes of company. FRS 105 is the micro-entities standard and is intentionally minimal: fewer disclosures, simpler measurement rules, and treatments such as the revaluation of assets and fair value accounting are not available. FRS 102 is a fuller framework used by larger small companies and by entities outside the micro-entities regime, and it allows more accounting options and requires more disclosure. In practice, FRS 102 gives more flexibility and more information to readers; FRS 105 gives a leaner set of accounts.

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

Where a company prepares accounts under the micro-entities regime, it will normally file accounts with Companies House, and the micro-entity filing option reflects the reduced disclosure permitted under that regime. It is worth noting that the accounts approved by the directors and prepared for the members are not identical to the version filed, because the filing can be a simplified version containing less information. The two should still be consistent, and both should reflect the same underlying records.

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

Yes, they are separate exercises with different purposes and different recipients. FRS 105 Micro Entity Accounts are financial statements prepared under an accounting framework, while the CT600 is a Corporation Tax Return submitted to HMRC and calculated using tax rules. The accounts usually provide the starting point for the tax computation, but adjustments are commonly needed, so the figures in the accounts and the figures on the tax return will not always be the same. Filing one does not fulfil the obligations of the other.

What information is needed to prepare FRS 105 accounts?

Useful starting points include your bookkeeping or accounting software records, bank and credit card statements, sales and purchase documentation, payroll information, details of any loans or finance agreements, stock or work-in-progress information where relevant, and details of fixed assets bought or sold during the period. It also helps to know whether the company has used a reporting framework before and whether there have been any unusual or one-off transactions. If records are incomplete, that is worth raising early so it can be addressed before the accounts are finalised.