─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Tring

FRS 105 Micro Entity Accounts in Tring are prepared under the financial reporting framework that applies to companies which qualify for, and choose to apply, the UK micro-entities regime. FRS 105 is the standard that governs how those accounts are put together — from the format of the balance sheet and profit and loss account through to the limited notes that accompany them. Because the micro-entities regime is an option rather than an automatic entitlement, the sensible first step is to look at the company’s size, its accounting period and any rules or exclusions that might affect whether the regime is available at all. Professional preparation then helps ensure the figures are built up properly from the company’s own records, that the accounts are consistent with the framework actually being applied, and that what is presented is a fair reflection of the business’s circumstances. If you run a small limited company in Tring and want to understand whether FRS 105 Micro Entity Accounts suit your situation, working with someone who prepares them regularly can save time and reduce the risk of avoidable corrections later.

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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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 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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─── FRS 105 EXPLAINED

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is a UK financial reporting standard — a set of rules that explains how the very smallest companies should prepare their annual accounts. It sits alongside the micro-entities regime, which is an accounting framework created specifically for the smallest businesses. In plain terms, if a company qualifies for the micro-entities regime and its directors choose to use it, then FRS 105 is the standard that applies when the accounts are drawn up. The thinking behind FRS 105 is simplicity. It works on a straightforward historic cost basis, so assets are generally carried at the amount they cost rather than being revalued, and many of the more complex accounting judgements and disclosures that larger companies deal with simply do not arise. The result is a shorter, simpler set of financial statements that still shows the company’s balance sheet, its profit and loss position for the period and a small number of supporting notes. These are still formal accounts — they are prepared for the company’s members and form the annual accounts delivered to Companies House — but they are designed to be proportionate to the size of the business. FRS 105 Micro Entity Accounts in Tring are simply those accounts prepared for a local company that has decided the micro-entities regime is the right fit.

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

FRS 105 is intended for companies that qualify for the UK 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 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. Meeting those size conditions is usually the starting point rather than the whole answer. The micro-entities regime carries its own rules and exclusions — certain companies, including some that form part of an ineligible group, are excluded regardless of how small they are — and eligibility is assessed against the company’s actual circumstances rather than assumed. Companies that qualify are not obliged to use the regime either; a different framework may be a better fit depending on the company’s structure, its plans and the transactions it needs to report. If you are considering FRS 105 Micro Entity Accounts in Tring, it is worth reviewing both the size tests and the exclusions before any decision is made.

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 Tring

FRS 105 Micro Entity Accounts are built from the company’s own financial records — bank statements, sales and purchase records, payroll information, asset purchases, loans and any director’s loan account balances. Preparation is largely about taking that raw information and turning it into a properly structured set of financial statements under the framework the company has chosen, with figures that reconcile back to the underlying records. Care matters here: a misposted item or an overlooked expense can change the reported result, so accounts are normally reviewed against expectations before they are finalised. It also helps to keep the different filings clearly separate in your mind. FRS 105 financial statements are the annual accounts prepared under that framework and delivered to Companies House as the company’s accounts for the financial year. A Corporation Tax Return (CT600) is a separate submission made to HMRC, and taxable profit is not calculated in exactly the same way as the profit shown in the accounts. A Confirmation Statement is a different filing again, covering company details rather than financial results. Our role is to prepare your FRS 105 Micro Entity Accounts carefully using the information you provide, explain the assumptions behind the figures, and help you see how the accounts sit alongside your other filing obligations. We do not claim that any submission will automatically be accepted, or that compliance is guaranteed — the quality of the accounts depends heavily on the records and information supplied.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Tring

If you are unsure whether the micro-entities regime applies to your company, or you simply want the accounts handled properly, get in touch to talk through your FRS 105 Micro Entity Accounts requirements. It helps to have a few basics ready — your company details, the accounting period in question, your financial records for that period, and any information about loans, assets or director balances. From there we can look at your circumstances, confirm which framework is appropriate and explain what is involved in preparing and filing the accounts. There is no obligation, and no assumption that FRS 105 is the right answer for you. Contact us to discuss your situation and the next practical 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 that applies when a qualifying company prepares its annual accounts under the micro-entities regime. It sits within UK GAAP but is the simplest, shortest framework available. It sets out the formats to use, the measurement basis (broadly historic cost, without revaluations or fair value accounting) and the limited disclosures that accompany micro-entity accounts. In practice it means a streamlined set of financial statements that still reports the company's balance sheet, its profit or loss for the period and a small number of notes.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and whose directors choose to apply it. Being a small company is not the same as qualifying as a micro-entity, and the regime also has exclusions — certain companies, such as those forming part of an ineligible group, cannot use it regardless of their size. Eligibility therefore needs to be checked against the company's own circumstances rather than assumed, and the choice of framework should be made deliberately rather than by default.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies as a micro-entity can instead prepare its accounts under another framework, such as the small companies provisions of FRS 102, which offer more flexibility but come with more disclosure. The decision is normally taken by the directors, and whichever framework is chosen should be applied consistently and reflected properly in the accounts.

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. The balance sheet total looks at total assets without deducting liabilities, and employee numbers are averaged across the period. Different limits applied to earlier periods. The rules also contain exclusions, so meeting the size conditions is necessary but not always sufficient on its own.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main UK GAAP standard and is used by a much wider range of companies, including small companies that apply its small entities provisions. FRS 105 is far slimmer and is restricted to qualifying micro-entities. It generally requires a historic cost approach, so revaluations, fair value adjustments and certain deferred tax treatments are not permitted, and the disclosure requirements are considerably reduced. The trade-off is straightforward: FRS 105 gives you simpler, shorter accounts, while FRS 102 gives you more options for how certain items are presented.

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

Yes. Where a company prepares its annual accounts under the micro-entities regime, those accounts are the ones delivered to Companies House for that financial year, within the filing requirements that apply to the company. They are also provided to the company's members. For micro-entity accounts, the filing typically consists of the balance sheet and the supporting notes, with the profit and loss account not usually placed on the public record in the same way as it is for larger companies.

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

Yes, they are two distinct filings. FRS 105 accounts are the financial statements prepared under that framework and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, and the tax computation usually starts from the profit shown in the accounts before adjusting for items that are treated differently for tax purposes, such as certain expenses or capital allowances. Most companies need to deal with both, and they run to their own separate timetables.

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

Typically you would provide your company details and the accounting period covered, bank statements and transaction records for that period, sales and purchase information, payroll or salary details, records of any assets bought or sold, and details of loans or amounts owed to and by directors. If you use accounting software, sharing access or an export of the ledgers is usually the quickest route. The more complete the records, the smoother the preparation — and if anything is missing, we can talk through what is needed.