─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Arlesey: Clear, Accurate Financial Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts give qualifying companies a streamlined way to prepare and present their annual financial statements. FRS 105 provides the financial reporting framework for companies that qualify for the micro-entities regime and choose to apply it, allowing a simpler format than the standards used by larger businesses. If your company is based in Arlesey and you think it may fall within the regime, professional preparation can help ensure your FRS 105 Micro Entity Accounts are put together appropriately for your circumstances — reflecting your actual trading activity, assets, liabilities and the disclosure requirements that apply. Every company is different and eligibility is never automatic, so it is worth reviewing the relevant size conditions and any exclusions before deciding whether FRS 105 is the right framework for your business.

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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: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for the micro-entities regime. In simple terms, it is a simplified set of accounting rules for the smallest companies, designed to reduce the cost and complexity of preparing annual financial statements while still producing accounts that give a clear picture of the business. The micro-entities regime is one of the accounting regimes available to qualifying UK companies, and FRS 105 applies when a company chooses to use that regime. Compared with the standards applied by larger businesses, FRS 105 involves fewer disclosures and simpler measurement rules, and it works on a historical cost basis rather than allowing certain fair value or revaluation options. Importantly, using FRS 105 is a choice available to companies that meet the qualifying conditions — it is not something every small company is automatically entitled to, and relevant exclusions can affect the position. For directors in Arlesey, the practical question is usually whether this simplified approach suits the company’s circumstances and the needs of the people who rely on its accounts.

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

To use FRS 105 Micro Entity Accounts, a company needs to qualify for the UK micro-entities regime and then 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. Passing that size test is not, on its own, a guarantee of eligibility. Other rules and exclusions apply to the regime, and certain types of company or particular circumstances can affect whether it can be used, so the size conditions should be treated as part of the picture rather than the whole answer. Directors in Arlesey should also remember that applying the micro-entities regime is a choice: qualifying companies may instead prepare accounts under FRS 102 where that is more appropriate for their users and their reporting needs.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your company’s financial records — bank transactions, sales and purchase invoices, payroll information, asset and loan details, and any previous year’s accounts. From there, the figures are reviewed and assembled into a set of financial statements prepared under the FRS 105 framework, in line with the reporting requirements that apply to your company. It is worth keeping the different strands of your compliance in view: preparing your FRS 105 Micro Entity Accounts is one task, filing those accounts with Companies House is a separate filing step, and your Corporation Tax obligations are dealt with separately again through a Company Tax Return (CT600) submitted to HMRC. Treating accounts preparation, Companies House filing and tax reporting as distinct requirements helps ensure each is handled on the correct basis and reduces the risk of confusion for Arlesey company directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Arlesey

If you would like help with your FRS 105 Micro Entity Accounts, get in touch and we will talk through your company’s position. Tell us about your trading activity, your accounting period, the records you keep and any questions you have about whether the micro-entities regime is likely to suit you. We can review the information you provide, explain the options available to you and set out clear, transparent pricing for preparing your FRS 105 Micro Entity Accounts. Having your key records and previous accounts to hand when you contact us helps us give you a more useful response, so please gather what you can before we speak.

─── 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 to the micro-entities regime. It sets out a simplified framework for preparing annual financial statements, with fewer disclosure requirements and simpler measurement rules than the standards used by larger companies. It is the standard you would use for your FRS 105 Micro Entity Accounts if your company qualifies for the micro-entities regime and chooses to apply it.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use FRS 105. The regime is an option, and FRS 105 applies when a company chooses to adopt it. Some qualifying companies instead prepare their accounts under FRS 102, for example using the small entities provisions where that better suits their circumstances or the needs of the people who use their accounts. It is a decision to make with your accountant, based on the company's activities and reporting requirements.

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 is not the whole story — other eligibility rules and exclusions can apply, and a company must also choose to adopt the micro-entities regime. It is worth checking your specific position rather than assuming you qualify.

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 and offer different levels of simplicity. FRS 105 is the micro-entities standard: it works on a historical cost basis, restricts or removes a number of accounting options, and requires far fewer disclosures. FRS 102 is the wider standard, used by small entities under its small entities provisions and by larger companies in full. The choice affects how your accounts look, how much detail is disclosed and how certain items are measured.

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

Micro-entity accounts are generally filed with Companies House as part of a company's annual accounts requirement, and accounts prepared under FRS 105 usually qualify for the simplified format permitted for micro-entities. Filing is a legal obligation for most companies, but it is important to understand that Companies House does not review or approve accounts for accounting quality — filing does not mean the accounts have been checked or endorsed. Filing requirements have also been changing as Companies House reforms are introduced, with more information expected to be required in future filings, so it is sensible to confirm the current position before you file.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are two distinct things. Your FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, and they are generally filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, which reports the company's taxable profits and calculates the tax due. The starting point for the CT600 is usually the profit shown in the accounts, but tax rules differ from accounting rules, so adjustments are often needed. One does not replace the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, provided it qualifies for the micro-entities regime and chooses to apply it. New companies often have modest turnover and few employees in their first period, but eligibility still depends on the applicable rules and any exclusions, and it should be assessed rather than assumed. If your company is new and based in Arlesey, we can look at your first accounting period with you and help you decide which framework fits.

What information is needed to prepare FRS 105 accounts?

Typically we would need a complete record of the period's transactions — sales and purchase invoices, bank and credit card statements, payroll and expenses information, details of any assets, stock or loans, and a copy of the previous year's accounts if there are any. We would also need your accounting period dates and to know whether anything significant has changed, such as a new loan, a director's loan or a change in activity. From there, the figures can be reviewed and the FRS 105 Micro Entity Accounts prepared.