─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Cheshunt

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify as micro-entities and choose to apply the UK micro-entities regime. In Cheshunt, many small limited companies find that this route offers a simpler, more proportionate way to prepare statutory financial statements, with a reduced set of disclosures compared with larger reporting frameworks. Professional preparation starts with a clear look at your company’s circumstances — its size, trading activity, assets, liabilities and accounting records — to establish whether the micro-entities regime is appropriate for that particular accounting period. Eligibility is not automatic and depends on meeting the applicable size conditions as well as any relevant rules and exclusions, so it is worth reviewing each year rather than assuming the same treatment continues indefinitely. Working with someone who understands FRS 105 Micro Entity Accounts means your figures are pulled together consistently from your records, presented in a format that reflects the micro-entity framework, and supported by the working papers you would expect to keep. It also means the accounts are prepared with the separate requirements of Companies House filing and Corporation Tax in mind, so you know what is being submitted, to whom, and why.

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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 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework

FRS 105 is the financial reporting standard that applies in the UK when a qualifying company chooses to use the micro-entities regime. In plain terms, it is a simplified set of accounting rules designed for very small companies, allowing statutory accounts to be prepared on a straightforward basis with far fewer disclosure notes than you would see under larger-company frameworks. If your company meets the micro-entity size conditions and you decide to adopt the micro-entities regime, then FRS 105 is the framework under which those financial statements are prepared — it is not something you can pick independently of that choice. FRS 105 accounts typically present a simple balance sheet, a small profit and loss account and a limited set of notes, which keeps the reporting focused on the essentials and reduces the time and cost involved in producing annual accounts. Not every small company qualifies, and some directors prefer the extra disclosure and flexibility offered by other frameworks, so it is a decision worth taking deliberately rather than by default. For directors in Cheshunt running a small limited company, understanding what FRS 105 is — and whether it suits your business — makes the annual accounts process much easier to plan for and far less opaque.

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 — both parts matter, because qualifying opens the door and the choice is what actually brings FRS 105 into play. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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 during the period. Meeting those conditions is a strong starting point, but it is not the whole picture. Certain rules and exclusions can affect whether the regime is available, and some companies are excluded regardless of size. Thresholds have also changed over time, so it is worth checking the position against the specific accounting period you are dealing with rather than relying on figures you may have seen previously. For a Cheshunt company considering FRS 105 Micro Entity Accounts, the practical approach is to review turnover, balance sheet total and average headcount, consider any exclusions, and then confirm whether the micro-entities regime is the right choice for that year. Eligibility can change from one period to the next, so the assessment is best repeated annually rather than treated as a one-off decision.

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 Micro Entity Accounts in Cheshunt

Preparing FRS 105 Micro Entity Accounts properly means working from accurate financial records and applying the micro-entity framework consistently, rather than simply copying last year’s figures. The starting point is your bookkeeping — bank transactions, sales invoices, purchase records, payroll information, asset purchases and any loans or director balances — which is then reviewed to confirm the accounts tell a coherent story about the year. From there, the financial statements are drafted in line with FRS 105 presentation and disclosure requirements, giving you a balance sheet, profit and loss account and supporting notes appropriate to a micro-entity. It is important to keep two things separate: the preparation of the financial statements, which is an accounting exercise under the chosen framework, and the filing of those accounts with Companies House, which is a statutory submission with its own format and timing considerations. Corporation Tax is a third, distinct matter — a CT600 is filed with HMRC and is based on the company’s taxable profits, not on the accounts framework itself, even though the two are related. Professional support helps you keep those strands clear, so nothing is missed and you understand exactly what has been prepared and submitted, and by whom.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Cheshunt

If you would like straightforward, fixed-fee support with your FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to have your accounting records, details of any assets, loans or director balances, and information about your trading year to hand, along with confirmation of your company’s size for the period so eligibility can be considered properly. We can then talk through whether the micro-entities regime is the right fit for your circumstances, what the accounts will include, and how the financial statements sit alongside your Companies House filing and your separate Corporation Tax obligations. Whether you are preparing accounts for the first time, switching from a different framework, or simply want a clearer explanation of what your FRS 105 accounts actually say, we are happy to answer questions 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 that applies to companies using the micro-entities regime. It sets out simplified accounting and disclosure requirements, so accounts prepared under it are shorter and more straightforward than those produced under frameworks designed for larger companies. It applies when a company qualifies as a micro-entity and chooses to adopt that regime for the accounting period in question.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not always mean the regime is available.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A qualifying company can choose to apply it and therefore prepare FRS 105 accounts, or it can use a different framework — for example, a small company may instead prepare accounts under FRS 102 Section 1A. Companies sometimes prefer a fuller framework because of the additional disclosures or accounting options it allows.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the most simplified framework available to UK companies, with a short balance sheet, a small profit and loss account and minimal notes, and with several accounting treatments restricted compared with other standards. FRS 102 — and particularly Section 1A for small entities — permits a wider range of accounting policies and requires more disclosure. FRS 105 suits companies that want the simplest possible route, while FRS 102 may suit those who need greater flexibility or whose circumstances make the extra disclosure useful.

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

Micro-entity accounts are still statutory accounts and ordinarily need to be filed with Companies House for the relevant accounting period, using the appropriate filing option for accounts prepared under the micro-entities regime. Filing the accounts is a separate step from preparing them, and separate again from HMRC's requirements. If there are reasons why accounts might not need to be filed — for example where a company is dormant or a period is being shortened or lengthened — this should be checked against the specific circumstances.

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

Yes. FRS 105 accounts are the company's statutory financial statements, prepared under the micro-entities accounting framework and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, calculated from the company's taxable profits and adjusted for tax purposes. The two are related because the accounts figures usually inform the tax return, but they are distinct documents with distinct purposes and recipients.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 for its first accounting period, but this depends on whether it qualifies for the micro-entities regime for that period. Because a first period can be shorter or longer than twelve months, and because a company's size in its first period is judged on its own facts, eligibility should be considered rather than assumed. It is worth confirming the position before the accounts are prepared.

What information is needed to prepare FRS 105 accounts?

Useful information includes your bookkeeping records or accounting software access, bank statements, sales and purchase invoices, payroll and employment details, information about asset purchases and disposals, details of any loans, director's loan account movements, and stock or work-in-progress figures where relevant. Confirmation of your company's turnover, balance sheet total and average employee numbers for the period also helps establish how the accounts should be prepared. The more complete the records, the smoother the preparation process tends to be.