─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Edgware

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime. For companies in Edgware, professional preparation of FRS 105 Micro Entity Accounts can help ensure the financial statements are put together appropriately for the company’s circumstances, with the balance sheet, profit and loss account and notes reflecting the FRS 105 requirements. Eligibility is not automatic: a company must qualify for the micro-entities regime and decide to use it. We can review your position, work from your records and prepare accounts that are clearly presented for the relevant accounting period, while keeping the separate Companies House filing and Corporation Tax position in view.

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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: What Micro-Entity Accounts Mean for Edgware Companies

FRS 105 is the UK financial reporting standard used by companies that qualify for the micro-entities regime and choose to apply it. In simple terms, it gives smaller companies a simplified way to prepare their annual financial statements, with a balance sheet, a profit and loss account and limited notes rather than the fuller disclosures required under other frameworks. The micro-entities regime is optional for qualifying companies; FRS 105 applies when that regime is chosen. For an Edgware company, the key question is whether it meets the eligibility conditions and whether the micro-entities regime suits its circumstances. Professional guidance can help you understand what FRS 105 Micro Entity Accounts involve and how they fit alongside your other filing obligations.

Who Can Use FRS 105 in the UK? Micro-Entity Accounts for Edgware Companies

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. In Edgware and across the UK, that means looking at the company’s size and circumstances for the relevant accounting period. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least two of three 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. However, other eligibility rules and exclusions can apply, so meeting the size thresholds alone does not always guarantee eligibility. A company also needs to decide whether to use the micro-entities regime; FRS 105 applies when that choice is made. Professional advice can help confirm whether your Edgware company may be able to use FRS 105 Micro Entity Accounts.

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.

Professional Accounting Support for FRS 105 Micro Entity Accounts in Edgware

Professionally prepared FRS 105 Micro Entity Accounts are based on the company’s financial records and the applicable reporting requirements, not on a one-size-fits-all template. The preparation process typically involves reviewing bookkeeping, checking the balance sheet and profit and loss account, considering any notes required under FRS 105 and making sure the accounts are consistent with the information available. Preparing the financial statements and filing accounts with Companies House is separate from dealing with Corporation Tax, including any CT600 that may be due to HMRC. We can help you prepare FRS 105 Micro Entity Accounts for your Edgware company and explain how the accounts and tax filings fit together, while avoiding assumptions about eligibility or outcomes.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Edgware

If you are considering FRS 105 Micro Entity Accounts for your Edgware company, the next step is to discuss your circumstances. We can review your eligibility position, explain what information is needed and help you prepare accounts that reflect your financial records and chosen reporting framework. To get started, have details of your company, accounting period, bookkeeping records and any relevant filing information to hand. Whether you are newly incorporated or have been trading for years, we can talk through your requirements and the options available for your FRS 105 Micro Entity Accounts.

─── 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 qualifying micro-entities that choose to apply the micro-entities regime. It allows a simplified set of financial statements, typically including a balance sheet, profit and loss account and limited notes. It is an accounting framework, not a tax return, and it applies only when the company qualifies and decides to use the micro-entities regime.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK rules and choose to apply the micro-entities regime. Qualifying generally depends on meeting at least two of the three size conditions for the relevant period, but other eligibility rules and exclusions can apply. For accounting periods beginning on or after 6 April 2025, those conditions are turnover of no more than £1 million, balance sheet total of no more than £500,000 and an average of no more than 10 employees. Meeting the size tests alone does not automatically guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is optional for companies that qualify. If a company qualifies but chooses not to use the micro-entities regime, it would generally prepare accounts under another applicable framework, such as FRS 102. FRS 105 applies when the company chooses the micro-entities regime.

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 two of three conditions: turnover no more than £1 million, balance sheet total no more than £500,000, and average no more than 10 employees. These are the main size tests, but the micro-entities regime has additional rules and exclusions. A company should check its specific circumstances rather than assuming it qualifies.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simplified framework for qualifying micro-entities that choose the micro-entities regime. FRS 102 is a fuller financial reporting standard used by many other companies, with more disclosure and measurement requirements. FRS 105 accounts are generally shorter and less detailed, which can make them suitable for eligible companies that want a simpler set of financial statements. The right choice depends on eligibility and the company’s circumstances.

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

Where a company prepares FRS 105 Micro Entity Accounts, the accounts may need to be filed with Companies House as part of its annual accounts filing obligations, subject to the applicable rules. Filing accounts with Companies House is separate from filing a Corporation Tax Return with HMRC. The accounts themselves and any tax return serve different purposes and should be prepared with the relevant requirements in mind.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime, while a CT600 is the Corporation Tax Return submitted to HMRC. The accounts provide the financial reporting information, and the CT600 deals with the company’s Corporation Tax position. They can be connected in terms of the figures used, but they are separate filings with different purposes and recipients.

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

To prepare FRS 105 Micro Entity Accounts, an accountant will usually need the company’s bookkeeping records, bank statements, sales and purchase information, payroll or employee details where relevant, asset and liability records, and details of the accounting period. It also helps to confirm the company’s eligibility for the micro-entities regime and whether it has chosen to apply it. If the company is newly incorporated, details of any pre-trading or early transactions may also be useful.