─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Harpenden — Straightforward Financial Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts are the statutory financial statements produced under the micro-entities regime, the simplified accounting framework available to companies that both qualify as micro-entities and choose to apply that regime. For a small company in Harpenden, this can mean shorter, simpler accounts that focus on the essentials — a balance sheet, limited notes and the core disclosures the framework requires — rather than the fuller reporting that larger frameworks demand. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are drawn correctly from your bookkeeping and accounting records, that the presentation reflects your company’s actual circumstances, and that the accounts are consistent with the information you report elsewhere. Because eligibility depends on meeting the relevant size conditions and on there being no applicable exclusion, it is always worth reviewing your position before assuming the micro-entities regime is the right fit for a particular accounting period.

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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 the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that sets out how a qualifying company’s annual accounts should be put together when the directors decide to use the micro-entities regime — the lightest of the UK accounting frameworks. Under FRS 105, the accounts are prepared on a simpler basis than under FRS 102, with fewer disclosure requirements, a more straightforward approach to measuring assets and liabilities, and a strong emphasis on the balance sheet and the profit and loss account. The important point is choice: a company that qualifies for the micro-entities regime is not obliged to use it, and FRS 105 only applies where that regime is actually adopted. If a company qualifies but prefers fuller reporting — perhaps because a lender, investor or group parent wants more detail — it can use a different framework instead. For directors of small companies in Harpenden weighing up their options, understanding this distinction between qualifying for the micro-entities regime and choosing to apply it is the first step towards making a sensible decision about FRS 105 Micro Entity Accounts.

Who Can Use FRS 105 in the UK? Companies That Qualify for and Choose the Micro-Entities Regime

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose 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. Meeting two of those three conditions is the usual starting point for a company in Harpenden thinking about FRS 105 Micro Entity Accounts, but it is not the end of the assessment. The size conditions are subject to the relevant rules and exclusions, and certain companies — for example some types of financial or investment entity — may not be able to use the regime at all. On top of that, qualifying does not mean the regime must be used; it is an available accounting framework, and FRS 105 applies only where the directors decide to adopt the micro-entities regime for the period in question. Because both the size tests and the surrounding rules can interact with your company’s specific situation, eligibility is best confirmed by reviewing your figures and your company’s status before the accounts are prepared.

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 with Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts start with your company’s own financial records — bank statements, sales and purchase information, payroll details, expense records and any asset or liability schedules — and turn them into a set of financial statements that follow the reporting requirements that apply to your company. That work involves agreeing the figures, checking that income and costs have been recognised in the right period, reviewing the balance sheet for completeness, and drafting the limited notes and disclosures that the micro-entities regime requires. It is worth being clear about how the different obligations fit together: preparing FRS 105 financial statements and filing accounts with Companies House is one exercise, while preparing and submitting a Corporation Tax Return (CT600) to HMRC is a separate exercise with its own rules, deadlines and computations. Many companies handle both together because the underlying figures overlap, but they are not the same thing and neither replaces the other. Where a company also has a Confirmation Statement or other Companies House filings to make, those sit outside the accounts as well.

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Get Help with Your FRS 105 Micro Entity Accounts in Harpenden

If you would like support with your FRS 105 Micro Entity Accounts, the best starting point is a straightforward conversation about your company. Tell us about your trade or activity, your accounting period, roughly how your company measures up against the micro-entity size conditions, and whether you already have a set of accounts prepared on a different basis. Sharing your bookkeeping records, bank information and details of any assets, liabilities, loans or director transactions will help us understand the shape of the work involved. We can then explain how FRS 105 Micro Entity Accounts would be approached for your circumstances, what information we would need from you, and how the accounts fit alongside your other filing and Corporation Tax obligations. Contact us to discuss your requirements and take the next step.

─── 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 company's annual accounts should be prepared when the directors choose to apply the micro-entities regime. It is the simplest of the UK accounting frameworks, with reduced disclosure requirements and a more straightforward measurement basis than the fuller standards. In practice, FRS 105 accounts tend to be shorter and more focused than accounts prepared under a larger framework, while still giving a true and fair view of the company's financial position for the period.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to apply it. Qualifying is about size, but there are also rules and exclusions that can prevent a company from using the regime, so meeting the size tests alone does not automatically mean a company is eligible. A company that qualifies may still choose a different framework, for example if a lender or investor wants more detail. It is worth reviewing eligibility for each accounting period, because circumstances change as a business grows or shrinks.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies as a micro-entity can choose to apply it, and FRS 105 applies when that choice is made. If a company qualifies but prefers fuller reporting — perhaps because of a group requirement, a lending arrangement or simply the directors' preference — it can prepare accounts under a different framework. The decision is normally made by the directors and should reflect the company's actual circumstances.

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 to qualify as a micro-entity: 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 conditions apply subject to the relevant rules and exclusions. Meeting the size conditions is the starting point rather than the whole answer, so eligibility should always be confirmed against the current rules before FRS 105 accounts are prepared.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main UK financial reporting standard and applies to a much wider range of companies, including small companies under Section 1A. FRS 105 is the specialised micro-entities standard. The main practical differences are the level of disclosure and the measurement rules: FRS 105 requires fewer notes and operates on a simpler basis, while FRS 102 generally requires more disclosure and a broader range of accounting treatments. Which one is appropriate depends on whether the company qualifies for and chooses the micro-entities regime.

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

Accounts prepared under FRS 105 are still annual accounts, and for a limited company they generally need to be filed at Companies House in the usual way, alongside any other filings the company is required to make. Filing accounts is distinct from filing a Corporation Tax Return, and it is also distinct from filing a Confirmation Statement, which deals with company information rather than financial statements. If you are unsure which filings apply to your company, it is worth checking your position before the relevant deadlines approach.

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

Yes. FRS 105 accounts are financial statements prepared under the UK accounting framework, whereas a CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. They are separate exercises with separate purposes and separate submission routes, even though they are often prepared together because the underlying figures overlap. Your accounting records feed into both, but preparing FRS 105 Micro Entity Accounts does not in itself satisfy a company's Corporation Tax filing obligations.

Can a newly incorporated company use FRS 105?

Possibly, but it is not automatic. A newly incorporated company with modest activity may well fall within the micro-entity size conditions, but it still has to qualify for the micro-entities regime and there must be no applicable exclusion. Directors also need to decide whether the micro-entities regime is genuinely the most suitable choice — a new company expecting rapid growth, outside investment or group reporting may prefer a framework that would not need to change so soon. Looking at the first accounting period alongside your plans for the next few years usually gives the clearest answer.