─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Watford

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for, and choose to apply, the UK micro-entities regime. If your company is based in Watford and meets the relevant size conditions, FRS 105 offers a streamlined way to prepare statutory financial statements, with simpler measurement and disclosure requirements than larger reporting frameworks. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your actual financial records, are presented consistently with the micro-entity requirements, and are ready for the filing and tax processes that follow. Every company’s circumstances differ, so eligibility is assessed case by case rather than assumed — meeting the size thresholds is normally necessary, but other rules and exclusions can also apply. Working with an experienced team gives you clear, transparent pricing and practical support so you know what is being prepared, why, and what happens next.

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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
  
 
      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.
  
 
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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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   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.
  
 
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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.
  
 
      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. In simple terms, it is the rulebook a qualifying company follows when it chooses to use the micro-entities regime to prepare its annual financial statements. The micro-entities regime is an available accounting regime, not an automatic one: a company needs to fall within the relevant size conditions, and then its directors decide whether to apply it. When that regime is chosen, FRS 105 applies to the accounts. FRS 105 keeps things straightforward. It focuses on historical cost, simplifies how items are measured, and reduces the amount of disclosure required compared with frameworks designed for larger companies. The result is a shorter, easier-to-read set of financial statements that still reports the company’s financial position and results for the year. For directors of smaller companies in Watford, the appeal is usually simplicity and clarity — fewer notes, a familiar format, and financial statements that are proportionate to the size and complexity of the business.

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. 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. These are the headline tests, but they are not the whole picture. Meeting the size conditions does not automatically mean a company is eligible or that it must use the regime — additional rules and exclusions can apply, and some companies are not permitted to prepare micro-entity accounts regardless of their size. There is also a choice involved: a qualifying company may adopt the micro-entities regime and apply FRS 105, or it may use another framework such as FRS 102 Section 1A. For directors in Watford weighing up FRS 105 Micro Entity Accounts, the practical step is to review your figures, your structure and your reporting needs together before deciding.

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 Watford

Well-prepared accounts start with well-organised records. We prepare FRS 105 Micro Entity Accounts using the information you provide — your bookkeeping, bank records, sales and purchase documentation, payroll details, and any asset or liability information — and then apply the reporting requirements that are relevant to your company’s circumstances. Alongside preparing the financial statements, we can help you understand how the filing side works. Filing the accounts with Companies House is a separate process from meeting your Corporation Tax obligations, and a Corporation Tax Return (CT600) is a distinct submission made to HMRC. Keeping these steps clear and separate helps avoid confusion about what is due, when, and to whom. Our role is to prepare accurate financial statements and support you through the process; we cannot guarantee any particular filing outcome or that a third party will accept accounts without query, and Companies House and HMRC do not approve or endorse accounts or the advisers who prepare them. What we can offer is careful preparation, clear explanations, and a straightforward approach to getting your FRS 105 Micro Entity Accounts in order.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Watford

If you would like support with your FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to share a little background: your accounting period dates, whether you already have records or bookkeeping in place, whether you have prepared accounts before, and any questions you have about the micro-entities regime or the filing process. With that information we can assess your circumstances, explain what is involved, and outline the available options on a clear, transparent basis. Whether you are preparing micro-entity accounts for the first time, switching from another framework, or simply want a second pair of eyes on the numbers before you file, a short conversation is usually the quickest way to establish what you need.

─── 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 that has chosen to apply the micro-entities regime prepares its annual financial statements, including how items are measured and what must be disclosed. It is deliberately simpler than the standards used by larger companies, using a historical cost basis and far fewer disclosure notes.

Who can use FRS 105?

FRS 105 is available to 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions does not by itself always guarantee that the regime is available.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not mean you must use FRS 105. It is an available accounting regime, and the directors decide whether to adopt it. Some companies that could use FRS 105 instead prepare their accounts under FRS 102 Section 1A, which offers a different balance of disclosures and accounting options. The right choice depends on your circumstances, your reporting needs, and who uses your accounts.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is the more streamlined of the two, with simpler measurement rules and reduced disclosures. FRS 102 is used more widely, including by many small and medium-sized companies under Section 1A, and generally involves more detailed accounting and more extensive disclosure. Choosing between them affects how your financial statements look and how much information they contain.

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

Yes — a company that prepares FRS 105 Micro Entity Accounts still has statutory filing obligations, and those accounts normally form the basis of what is filed at Companies House. What you file is separate from what you send to HMRC for Corporation Tax. Filing requirements have been changing as Companies House modernises its processes, including a move towards filing accounts using software, so it is always worth confirming the current requirements for your accounting period before you submit.

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

Yes, they are two different things. FRS 105 accounts are the company's statutory financial statements, prepared under the micro-entities regime and used for Companies House filing. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in your accounts usually inform the tax return, but the documents are prepared for different purposes and go to different bodies.

Can a new limited company use FRS 105?

It can, in principle, if it qualifies for the micro-entities regime and chooses to apply it. A newly incorporated company will usually need to consider how the size conditions apply to its first accounting period, and whether any other rules or exclusions are relevant. Because eligibility depends on the specific facts, it is worth reviewing your position before deciding which framework to adopt for your first set of financial statements.

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

We typically need your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll or employment details, and records of assets, liabilities, loans and directors' balances. Company details such as the registered number, period dates and any changes during the year are also useful. The cleaner and more complete your records, the more straightforward the preparation process tends to be.