─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Barnet

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime. If your company is based in Barnet and meets the relevant size conditions, FRS 105 Micro Entity Accounts can offer a simpler, more proportionate way to prepare and present your annual financial statements than a fuller reporting standard. Professional preparation helps ensure the accounts are built from your company’s actual financial records, are presented in line with the requirements of the framework, and are consistent with the information you file at Companies House. Because eligibility depends on meeting the applicable size conditions — and on other rules and exclusions that can apply — it is worth reviewing your circumstances before deciding whether the micro-entities regime is the right route for your company.

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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
  
 
      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.
  
 
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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 .

─── 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 within the wider micro-entities regime, which is an available accounting framework that qualifying companies can choose to apply instead of preparing accounts under a fuller standard such as FRS 102. In simple terms, FRS 105 lets a qualifying company prepare straightforward financial statements — typically a balance sheet, a profit and loss account and supporting notes — with simpler measurement and disclosure requirements than a larger company would need. FRS 105 applies when a company qualifies for the regime, chooses to use it, and prepares its accounts on that basis. It is not automatic, and it does not remove the need to keep proper accounting records or to file accounts at Companies House. For a small Barnet company, the main appeal is proportionality: reporting that fits the size and complexity of the business without unnecessary detail.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify under the UK micro-entities regime and choose to apply it. In broad terms, qualification is based on the size conditions that apply to your accounting period. 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. These conditions are subject to the relevant rules and exclusions, and some entities are excluded from the regime irrespective of their size. Meeting the size thresholds alone therefore does not automatically guarantee that a company can or should use FRS 105 — eligibility has to be considered alongside the nature of the company and the framework’s rules. For companies in Barnet that do qualify and choose the regime, FRS 105 Micro Entity Accounts can provide a proportionate way to report.

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 for Barnet Companies

Preparing FRS 105 Micro Entity Accounts is more than filling in a template. The figures need to be drawn from your company’s own financial records, measured and presented in line with the requirements of the framework, and supported by notes that are appropriate to your circumstances. Our work starts with your bookkeeping, bank records and supporting documents, and covers the preparation of financial statements that reflect the trading activity and financial position of the company. Where you need it, we can also prepare the accounts for filing at Companies House, which is a separate exercise from your Corporation Tax obligations. A Corporation Tax Return (CT600) is submitted to HMRC and is not the same thing as FRS 105 accounts, nor the same as a Confirmation Statement. We help you keep those separate filings properly aligned and documented, based on the information you provide and the reporting requirements that apply to your company.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Barnet

If you run a company in Barnet and want to understand whether FRS 105 Micro Entity Accounts suit your circumstances, get in touch. Tell us about your company — its trading activity, the accounting period you need accounts for, and the records you already hold — and we can talk through the options, the information we would need, and how the accounts fit alongside your other filing obligations. Whether you are preparing micro-entity accounts for the first time or reviewing the basis you currently use, a short conversation is the easiest way to establish what is appropriate. We keep things straightforward with clear, transparent pricing and fixed-fee options.

─── 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 forms part of the micro-entities regime, which is one of the accounting frameworks a qualifying company can choose to apply when preparing its annual financial statements. FRS 105 is designed to be proportionate to the size of a micro-entity, with simpler measurement and disclosure requirements than a fuller standard such as FRS 102. In practice, that means shorter, more straightforward accounts that still need to be prepared properly from accurate records.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualification is based on the size conditions that apply to the accounting period, and there are other rules and exclusions that can prevent a company from using the regime — certain entity types and circumstances are excluded. Meeting the size conditions alone does not automatically guarantee eligibility, so the position should be checked against your company's specific situation before a framework is chosen.

Is FRS 105 compulsory for every micro-entity?

No. Applying the micro-entities regime is a choice available to qualifying companies, not an obligation. If your company qualifies, you can generally choose between preparing accounts under FRS 105 or under FRS 102, including the small entities provisions. The right choice depends on your circumstances, the level of disclosure you need or want, and how the accounts are used. Many qualifying Barnet companies find FRS 105 attractive because of its simplicity, but it is a decision to make deliberately rather than by default.

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. These conditions are subject to the relevant rules and exclusions, and some companies are not eligible for the micro-entities regime regardless of their size. Because the detail matters, it is worth reviewing the position for each accounting period rather than assuming it carries over.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes and levels of complexity. FRS 105 is the micro-entities standard and applies only where a company qualifies for the micro-entities regime and chooses to use it. FRS 102 is the wider standard used by many small and medium-sized companies, usually with the small entities provisions. FRS 102 generally involves more detailed measurement and disclosure requirements, whereas FRS 105 is more streamlined — which suits many micro-entities but offers less flexibility in how certain items are presented and disclosed.

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

If your company prepares accounts on the FRS 105 basis and is required to file accounts, then those accounts are what get filed at Companies House, in the format required for that filing. Filing accounts is separate from submitting a Corporation Tax Return to HMRC, and separate again from your Confirmation Statement, which is a different statutory filing. Preparing the accounts and getting them filed are related tasks, but each has its own requirements and they should be handled distinctly.

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

Yes. A Corporation Tax Return (CT600) is a tax filing submitted to HMRC, while FRS 105 accounts are financial statements prepared under an accounting framework. The two are connected in the sense that the accounts provide much of the financial information used to complete the tax return, but they are separate documents with separate purposes and separate submission routes. Preparing FRS 105 Micro Entity Accounts does not by itself discharge your Corporation Tax filing obligations, and the reverse is also true.

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

Typically we need your company's accounting records for the period, including a trial balance or bookkeeping records, bank statements, sales and purchase information, payroll or employee details where relevant, and documentation supporting assets, liabilities and loans. Details of share capital, dividends, director's loans and prior-year figures are also helpful. If you are unsure what applies to your company, send what you have and we can identify any gaps before the accounts are prepared.