─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Waltham Cross

FRS 105 Micro Entity Accounts are the annual financial statements prepared under the micro-entities regime for companies that both qualify for it and choose to apply it. FRS 105 is the financial reporting standard that sets out the recognition and measurement rules and the limited disclosure requirements for the smallest companies, and it is designed for straightforward trading businesses that want concise, cost-effective accounts. In Waltham Cross, local trades, consultants, small retailers, online sellers and family-run companies often fall within scope of the regime, but eligibility depends on the company’s own circumstances and not simply on its size. Professional preparation helps to confirm whether the micro-entities regime is the right framework, to translate your bookkeeping and financial records into properly structured FRS 105 accounts, and to keep the figures presented to Companies House consistent with the framework you have chosen. It also gives you the chance to discuss openly whether FRS 105 or a fuller framework such as FRS 102 suits your business better.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the Companies Act 2006 rules that allow the smallest companies to prepare simplified accounts, and it is the standard that applies whenever a qualifying company chooses to use the micro-entities regime. In simple terms, FRS 105 is built on the same recognition and measurement foundations as FRS 102, but with most of the optional accounting treatments stripped out. That keeps things predictable: assets and liabilities are generally carried at cost or a straightforward valuation basis, and the notes to the accounts are kept to a short, prescribed set. The outcome is a concise set of FRS 105 financial statements — a balance sheet, a profit and loss account within the company’s own accounts, and minimal notes — that still needs to be accurate and properly put together. Importantly, the regime is optional rather than automatic. It is available to companies that qualify, and FRS 105 applies only for the periods in which that choice is made, so it is worth reviewing the position each year as your business changes.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the UK micro-entities regime under the Companies Act 2006 and that 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 numbers is a starting point rather than the whole test, because other eligibility rules and exclusions can apply — for instance, some companies that are part of a group containing a non-micro-entity may be excluded, as may certain financial, investment or regulated undertakings. Where an accounting period is longer or shorter than a full year, the thresholds may need to be adjusted. It is also worth remembering that the regime is optional: a qualifying company may instead report under FRS 102. Reviewing your eligibility each year, particularly as turnover or headcount grows, keeps your reporting on a sound footing.

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

Preparing FRS 105 Micro Entity Accounts is more than entering a year’s figures into a template. The accounts need to reflect your company’s actual transactions, be prepared on the micro-entity recognition and measurement basis, and tie back to the records you hold. A professional accountant will start with your bookkeeping, bank records, sales and purchase information, payroll data and any asset, loan or director’s account details, review them for completeness, and then build the financial statements on that foundation. The statutory accounts and the Companies House filing are handled as one exercise, while Corporation Tax is a separate matter altogether — a CT600 is submitted to HMRC and is not the same thing as filing accounts, even though the two are often prepared at the same time. Working with someone who prepares FRS 105 accounts regularly means the disclosure requirements of the regime are considered, the balance sheet and notes are consistent with each other, and questions about how a particular transaction should be treated can be answered before the accounts are finalised. No one can guarantee that a filing will sail through without any query, but a careful, well-documented preparation process gives you the strongest foundation.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Waltham Cross

If your company may qualify for the micro-entities regime, the next step is a straightforward conversation about your FRS 105 Micro Entity Accounts. Get in touch with your latest trial balance or bookkeeping records, details of any fixed assets, loans or director’s transactions, and an indication of your turnover and average employee numbers for the period. With that information your circumstances can be assessed, your eligibility questions answered, and you can decide whether to proceed on a clear, fixed-fee basis. Whether you are filing micro-entity accounts for the first time, changing accountant, or simply want reassurance that your current accounts are being prepared under the right framework, Micro Entity Accounts in Waltham Cross is here to help.

─── 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 simplified recognition and measurement rules plus a limited set of disclosure requirements, so the resulting accounts are considerably shorter and simpler than those prepared under FRS 102. It works alongside the Companies Act 2006 provisions that permit micro-entity accounts, and it applies when a qualifying company chooses to use the micro-entities regime.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime under the Companies Act 2006 and then choose to apply it. Qualifying generally means meeting the size conditions for the period and not falling within any of the exclusions that apply to the regime. Because eligibility depends on your company's specific circumstances, it is worth checking the position rather than assuming it applies.

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 may choose to apply it, or may instead prepare accounts under FRS 102, including the small entities provisions in Section 1A. The choice is normally made for each financial period, so a company can move between frameworks as its circumstances change.

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 these 3 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 rules and exclusions can also apply — for example, certain companies that form part of a larger group, or certain financial and investment undertakings, may be excluded. Where a period is not a full year, the thresholds may need to be adjusted, so it is worth confirming your position. For earlier accounting periods the thresholds were lower.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main UK accounting standard and offers a wider range of accounting policies and more extensive disclosure. FRS 105 is far more prescriptive: it removes most optional treatments, restricts the use of fair value and revaluation for many items, and requires only a small set of notes. For a genuinely small company, FRS 105 usually means less work and a shorter set of accounts, while FRS 102 can be more suitable where you want greater flexibility or where the company no longer fits the micro-entity conditions.

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

Yes. A company must file its annual accounts at Companies House, and where micro-entity accounts are prepared, the filing typically consists of the balance sheet and the accompanying notes. This is separate from the Confirmation Statement and from your Corporation Tax obligations. Filing requirements and formats do change from time to time, including a move towards software-based filing, so it is worth checking the current position before you submit.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the financial statements prepared under the accounting framework and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, supported by a tax computation and the relevant accounts information. The accounts normally feed into the tax return, but the filings go to different bodies and serve different purposes.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. A first set of accounts often covers more than twelve months, so the size conditions need to be considered carefully for that longer period. Discussing the position before the first accounts are prepared helps avoid having to change framework later.