─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Albans: Clear Financial Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts in Albans are prepared under the financial reporting framework designed for companies that qualify for — and choose to apply — the UK micro-entities regime. FRS 105 sets out how those financial statements should be structured, so your accounts present the company’s financial records in the format that framework requires. If you are unsure whether your company is eligible, professional preparation can help you review your turnover, balance sheet total and average employee numbers, along with any exclusions that may apply, before deciding whether the micro-entities regime is the right fit. Working with accountants who handle FRS 105 Micro Entity Accounts regularly means your figures are considered in context, from the balance sheet through to the limited notes the framework allows, so your reporting is clear and appropriately presented for your company’s circumstances. Eligibility is never automatic and can change from one accounting period to the next, so it is always worth confirming your position before accounts are drawn up.

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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 — full title Financial Reporting Standard 105, The Micro-entities Regime — is the UK accounting standard used by companies that qualify for the micro-entities regime and decide to apply it. Think of it as a simplified rulebook: instead of the fuller disclosure requirements found in FRS 102, FRS 105 allows a shorter, more streamlined set of financial statements built on historical cost, with far fewer notes and no fair value or revaluation accounting. The key point is that the micro-entities regime is a choice. A company that meets the qualifying conditions does not have to use it, but if the directors do elect to apply it, FRS 105 is the framework that must then be followed. In practice that means FRS 105 Micro Entity Accounts typically include a balance sheet, a small number of supporting notes and the required statements, giving owners and directors a tidy, straightforward picture of the company’s position without the extra disclosure burden of a larger reporting framework. If your circumstances change, the framework you use may need to change too, which is why each accounting period is worth reviewing on its own merits.

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

FRS 105 is available to 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. However, meeting those size conditions does not by itself guarantee that the regime is available — other eligibility rules and exclusions can apply, and certain companies fall outside the regime regardless of their size. Eligibility is also assessed period by period, so a company can move into or out of the micro-entities regime as its figures change. The most reliable approach is to review your turnover, balance sheet total, employee numbers and any applicable exclusions for the specific accounting period before deciding whether to prepare FRS 105 Micro Entity Accounts in Albans.

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 Albans

Professionally prepared FRS 105 Micro Entity Accounts start with your underlying financial records — bookkeeping, bank transactions, sales and purchase invoices, payroll information, asset purchases, loans and any other relevant items — and turn them into a set of financial statements presented in line with the framework you have chosen to apply. A careful preparation process includes checking that income and costs have been recorded in the right period, that the balance sheet agrees to your records, and that the figures are consistent with the disclosures that accompany them. Once the financial statements are finalised and approved by the directors, filing with Companies House is a separate step, and it is worth being clear that it is distinct from your Corporation Tax obligations: a Corporation Tax Return (CT600) is submitted to HMRC, not Companies House, and covers your tax position rather than your financial reporting. We prepare and support both, but we do not claim any form of approval, endorsement or guaranteed acceptance from Companies House or HMRC — the aim is simply accurate, appropriately presented FRS 105 Micro Entity Accounts that reflect your company’s circumstances.

ICAEW

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Get Help with Your FRS 105 Micro Entity Accounts in Albans

If you would like support with your FRS 105 Micro Entity Accounts, the best starting point is a conversation. Tell us about your company, the accounting period you need covered, and whether you already believe the micro-entities regime applies to you, and we can look at your circumstances together. It also helps to have the essentials to hand — records of income and expenses, bank statements, payroll details, details of any assets or loans, and last year’s accounts if you have them. From there we can talk through the framework, explain what the financial statements will include, and confirm how filing and your separate Corporation Tax position fit together. Whether you are switching accountants, preparing micro-entity accounts for the first time, or simply want a second pair of eyes on figures you have already drafted, we are happy to talk it through.

─── 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 the micro-entities regime. It is the framework a qualifying company applies once it has chosen to use the micro-entities regime, and it produces simplified financial statements built on historical cost with a very limited set of notes. It is one of several possible UK accounting frameworks, so it sits alongside options such as FRS 102 rather than replacing them.

Who can use FRS 105 to prepare their accounts?

FRS 105 is intended for UK companies that qualify as micro-entities and then elect to apply the micro-entities regime. Qualifying is not the same as being required to use it, and a company that qualifies may still choose a fuller framework. This applies to established companies and, where the conditions are met, to newly formed limited companies too — a first set of accounts is assessed against the same rules as any other period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. If your company qualifies as a micro-entity you may choose to apply it, but you are not obliged to. If you do choose the micro-entities regime, FRS 105 is the standard that applies to those financial statements, so the choice of regime and the choice of framework are linked.

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. Meeting those size conditions on its own is not the whole test — other eligibility rules and exclusions can apply, so eligibility should be confirmed for each accounting period rather than assumed.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they differ in how much they ask of you. FRS 105 is the most streamlined option, using historical cost and minimal disclosure. FRS 102 is a fuller framework that supports a wider range of accounting treatments, such as revaluation and fair value, and comes with substantially more disclosure. Companies that do not qualify for the micro-entities regime, or that choose not to apply it, will typically report under a framework such as FRS 102 instead.

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

Yes — where a company is required to file accounts, the financial statements still go to Companies House even though the micro-entities regime allows a simplified format. The accounts must be approved by the directors before filing, and the filing itself is a company law obligation. Filing accounts with Companies House does not mean Companies House reviews or approves the figures; acceptance of a filing is not confirmation that the accounts are correct.

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

Yes, they are genuinely separate things. FRS 105 Micro Entity Accounts are the financial statements prepared under the accounting framework and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, based on the company's tax position rather than its financial reporting framework. The two are prepared from much of the same underlying information, but they serve different purposes, go to different bodies, and should not be treated as interchangeable.

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

As a starting point, we need your bookkeeping or a clear record of income and expenses for the period, bank and credit card statements, sales and purchase invoices, payroll and pension information, details of any assets bought or sold, and any loans or directors' loan balances. It also helps to have your previous year's accounts, your company registration details and any correspondence relating to your filing obligations. The more complete the records, the more straightforward it is to prepare figures that properly reflect the company's position.