─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bushey

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplest accounting framework available to qualifying UK companies. FRS 105 provides the reporting framework used when a company qualifies as a micro-entity and chooses to apply that regime, allowing for a more streamlined set of financial statements than larger companies typically produce. If your company is based in Bushey and you are weighing up how your annual accounts should be prepared, professional support can help you understand whether the micro-entities regime is available to you and how the accounts should be put together for your particular circumstances. Eligibility is not automatic: it depends on the company meeting the relevant size conditions and not falling within any of the applicable exclusions, so it is always worth checking your position before assuming FRS 105 is right for you. A properly prepared set of FRS 105 Micro Entity Accounts, built from your own financial records and reported in line with the applicable requirements, gives you a clear and defensible basis for your year-end reporting and the related Companies House filing.

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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 micro-entities. It sits alongside the micro-entities regime, which is a set of rules that allows the smallest qualifying companies to prepare simpler accounts than those required under fuller frameworks such as FRS 102. In practice, FRS 105 usually means a shorter balance sheet, a simpler profit and loss account, and far fewer disclosure notes — so the financial statements focus on the essentials rather than extensive detail. The important point is that the regime is optional rather than forced: a company that qualifies as a micro-entity can choose to apply the micro-entities regime, and once that choice is made, FRS 105 is the framework that applies to those accounts. If your company is in Bushey and you are unsure which framework suits your year-end reporting, the starting question is whether you qualify — and then whether the simpler approach genuinely fits how you want your numbers presented. FRS 105 Micro Entity Accounts are not a shortcut around good accounting; they are a legitimate, recognised way for qualifying companies to report their position accurately and proportionately.

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. Qualification is a two-part question: does the company meet the size conditions, and does anything exclude it from the regime? 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 during the period. Those thresholds sit alongside other eligibility rules and exclusions, which means that satisfying the size test does not by itself guarantee that the micro-entities regime is available. Certain company types and particular circumstances can fall outside it. For companies in Bushey and the surrounding area, the practical route is to look at the company’s actual figures and status, confirm whether it qualifies, and then decide whether applying the regime and preparing FRS 105 Micro Entity Accounts is the right fit for the business.

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 properly means working from your company’s underlying financial records — bank transactions, sales and purchase information, payroll details and any asset or liability records — and presenting them in line with the reporting requirements that apply to the micro-entities regime. Professional preparation helps to make sure the figures hang together, that the balance sheet agrees to your records, and that the disclosures included are the ones appropriate for a micro-entity. It is important to keep the different obligations distinct: the annual accounts are prepared under FRS 105 and filed with Companies House, while Corporation Tax is dealt with separately through a Company Tax Return (CT600) submitted to HMRC, with the tax computation and any adjustments handled on their own basis. Similarly, a Confirmation Statement is a separate Companies House filing and is not part of the accounts. Good preparation does not mean guaranteed acceptance or a guaranteed outcome — it means the accounts are produced carefully, on time, and on the correct footing for your company’s circumstances, with the reasoning behind the figures clear to you as the director.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Bushey

If you would like your year-end accounts handled with care, the next step is a straightforward conversation about your FRS 105 Micro Entity Accounts. Tell us about your company — what it does, how it is structured, how your records are kept and what has already been filed — and we can assess whether the micro-entities regime appears to be available to you and how the accounts should be approached. Bring along your bookkeeping records, details of any assets or liabilities, and any correspondence you have received about your filing obligations, and we will explain what is needed and what happens next. Whether you are preparing accounts under FRS 105 for the first time or reviewing how your current reporting is put together, we are happy to talk it through with you.

─── 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 designed for micro-entities. It sets out how the smallest qualifying companies prepare their annual financial statements when they apply the micro-entities regime, and it is deliberately simpler than the fuller frameworks. In practical terms, it typically means a shorter balance sheet, a simplified profit and loss account and a much reduced set of notes, which keeps the reporting proportionate to the size of the business.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and choose to apply the micro-entities regime. Qualification depends on meeting the relevant size conditions and not being caught by any of the applicable exclusions — some company types and circumstances are not eligible regardless of size. Because both the size test and the exclusions matter, the sensible approach is to check your company's specific position rather than assuming that being small is enough on its own.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies as a micro-entity can choose to apply the regime, and if it does, FRS 105 is the framework used for those accounts. A qualifying company may instead report under a fuller framework such as FRS 102 if that better suits its circumstances, for example where more detailed disclosure is wanted or expected by lenders or other parties.

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 the following 3 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 during the period. These are the headline size conditions, and they are subject to the relevant rules and exclusions — so meeting the size test alone does not automatically confirm eligibility, and other company-specific factors may need to be considered.

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 intentionally brief, with limited notes and a simplified presentation. FRS 102 is the standard used by a much wider range of companies and generally requires more detailed accounting and more extensive disclosure. The main practical differences for a small company usually show up in the length and depth of the financial statements rather than in the day-to-day bookkeeping.

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

Yes — where accounts are prepared for a company, they form part of that company's annual accounts filing at Companies House, and a qualifying company applying the micro-entities regime will file the accounts prepared under FRS 105. The accounts filing is separate from Corporation Tax: a Company Tax Return (CT600) is submitted to HMRC on its own basis, and a Confirmation Statement is a further, separate Companies House filing. Keeping these obligations distinct helps avoid confusion about what is due and to whom.

Can a new limited company use FRS 105?

A newly incorporated company may be able to apply the micro-entities regime if it qualifies and chooses to do so, but being new does not automatically mean it does. In the first period there may be limited trading history to assess against, and the eligibility rules and exclusions still apply. It is worth reviewing the position before the first set of accounts is prepared so the framework is settled early and the records are kept in a way that supports it.

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

Typically, the accounts are built from your company's financial records: bank statements and reconciliations, sales and purchase information, payroll records, details of any assets and liabilities, and any loans or director's account movements. It also helps to have your company registration details, the previous year's accounts if there are any, and any correspondence about your filing obligations. The more complete and organised the records, the smoother the preparation process tends to be.

Are there changes coming to micro-entity accounts filing?

The rules and thresholds that govern the micro-entities regime do change from time to time, and the size conditions that apply depend on when your accounting period begins. Rather than relying on figures you have seen quoted elsewhere, it is worth confirming the position for your own accounting period before you prepare or file. Where changes affect your company, they are best considered as part of your year-end planning so that the accounts are prepared on the correct basis.