─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Baldock

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. For many small limited companies in Baldock and the surrounding area, FRS 105 offers the simplest route to producing statutory accounts, because it is built around a streamlined, cost-effective approach to recognition, measurement and disclosure. Whether you trade locally, work from home or operate as a small company serving customers further afield, the accounts still need to reflect your actual transactions, balances and accounting policies accurately. Professional preparation helps you work through the eligibility tests properly, considers the relevant rules and exclusions, and makes sure the figures in your FRS 105 Micro Entity Accounts are consistent with your underlying financial records, your other filing obligations and the way the company has been structured. It also gives you a clear picture of your company’s financial position rather than simply a set of forms to submit.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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
  
 
      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.
  
 
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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.
  
 
      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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime Made Simple

FRS 105 is the financial reporting standard used in the UK for micro-entity accounts. It sits alongside the micro-entities regime, which is an accounting regime that qualifying companies may choose to apply instead of a fuller framework such as FRS 102 Section 1A. In plain terms, FRS 105 allows a small company to prepare simpler financial statements, with a reduced set of disclosures and a more straightforward approach to measuring assets and liabilities, which in turn keeps the preparation process leaner and easier to follow. The important point is that the micro-entities regime is optional, not automatic: a company needs to qualify under the applicable size conditions and related rules, and if it has previously prepared accounts under a different framework there can be further considerations about moving across. When a company qualifies and chooses the micro-entities regime, FRS 105 is the standard that then applies. For directors in Baldock running a modest trading or service company, that choice can make the year-end process noticeably more manageable, while still producing statutory financial statements that are properly prepared for the company’s circumstances.

Who Can Use FRS 105 in the UK?

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. Meeting those size conditions is important, but it is not the whole picture. The micro-entities regime is subject to its own rules, and certain companies are excluded from using it — for example, some entities that are part of a group, or that carry on particular types of activity, may not be eligible. There are also considerations for companies that have previously prepared accounts under a different framework. For directors in Baldock, the practical approach is to check eligibility properly against the company’s own circumstances and then decide whether applying the micro-entities regime and preparing FRS 105 Micro Entity Accounts is the right fit, rather than assuming that a small company qualifies automatically.

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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your financial records — bookkeeping, bank statements, sales and purchase information, payroll data, asset purchases, loans and any other transactions that affect the company’s position. From there, the accounts are built up using the recognition, measurement and disclosure requirements that apply under FRS 105, producing a balance sheet, notes and the supporting information required for a small company’s statutory financial statements. It is worth separating the different tasks involved. Preparing and filing the company’s accounts with Companies House is one obligation. Submitting a Corporation Tax Return, usually the CT600, to HMRC is a separate obligation with its own calculations, adjustments and deadlines. A Confirmation Statement is separate again. Good preparation keeps these distinct but consistent, so that the profit reported in your FRS 105 Micro Entity Accounts and the taxable profit in your tax return can be reconciled without confusion. Working with an experienced accountant in Baldock helps ensure your accounts are prepared on a sound basis, reflect the micro-entity framework accurately and are presented in a way that is clear to you, to lenders and to anyone else who relies on them.

ICAEW

ACCA

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Speak to Us About Your FRS 105 Micro Entity Accounts in Baldock

If you would like help with FRS 105 Micro Entity Accounts for your company, get in touch and we can talk through your circumstances. It helps to have a picture of your company’s trading activity, its accounting period, the records you already keep and whether you have previously used the micro-entities regime or a different framework. We can then explain how the preparation process would work, what information we would need from you, how accounts and other filings fit together, and how our pricing is structured so there are no surprises. Whether you are a newly incorporated company in Baldock, an established small business reviewing your reporting approach, or a director who simply wants the year end handled properly, a short conversation is usually the quickest way to establish what is involved.

─── 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 micro-entity accounts. It is designed for companies that qualify for the micro-entities regime and choose to apply it. Compared with fuller frameworks, FRS 105 allows simpler financial statements with reduced disclosure, which makes the year-end process more straightforward for very small companies. It sets out how the accounts should be prepared and presented, including the balance sheet and any required notes.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to adopt it. Qualifying is not simply a matter of turning over a small amount; the company must meet the applicable size conditions and must not fall within any of the relevant exclusions. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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 apply, so eligibility should be checked against the company's specific situation.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, in which case FRS 105 is the standard used, or it may instead prepare accounts under a different framework, such as FRS 102 Section 1A. There are also companies that qualify for the micro-entities regime but have reasons — for example the expectations of lenders, investors or group reporting — to prefer a fuller framework. The choice should be made deliberately rather than by default.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the main financial reporting standard for UK companies that are not applying a smaller framework, and it includes a reduced-disclosure section specifically for small companies. FRS 105 goes further still, offering simpler measurement requirements and fewer disclosures because it is aimed at micro-entities. In practice, FRS 105 tends to produce shorter, more streamlined accounts, while FRS 102 Section 1A gives more detail and applies to a wider range of companies. The right choice depends on whether the company qualifies for the micro-entities regime and whether the simplified approach suits how the business is run and financed.

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

Statutory accounts, including accounts prepared under FRS 105 where a company qualifies and has adopted the micro-entities regime, generally need to be filed with Companies House for the relevant accounting period, in line with the filing requirements that apply to the company. What is filed is a formal set of accounts, so it is worth making sure the figures are accurate and the presentation is correct before submission. Filing accounts is a separate task from submitting a Corporation Tax Return to HMRC, and the two documents serve different purposes.

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

Yes. FRS 105 accounts are financial statements prepared under an accounting framework, while the CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. They are separate documents with separate submission routes. That said, they should tell a consistent story: the profit shown in the accounts is normally the starting point for the tax computation, with adjustments made for items treated differently for tax purposes. Keeping the two aligned avoids unnecessary queries and makes the year end easier to manage.

What information is needed to prepare FRS 105 accounts?

Typically we would ask for your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and purchases, payroll and employment information where relevant, records of any assets bought or sold, loan and finance agreements, VAT records if the company is registered, and details of any share capital or director's loan movements. It also helps to know the company's accounting period and whether it has previously prepared accounts under a different framework. If your records are incomplete, that is not unusual — we can discuss what is missing and how best to bring things up to date before the accounts are prepared.