─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Enfield

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. If your company in Enfield meets the relevant eligibility conditions and the directors decide that the micro-entities regime is the right fit, FRS 105 governs how the financial statements are put together, what is disclosed and how the figures are presented. Professional preparation starts with your records — bookkeeping, bank statements, invoices and any other supporting information — and works through to a set of financial statements that reflect your company’s circumstances. Because eligibility is not automatic and depends on the size conditions, any applicable exclusions and the choices made by the directors, it is worth reviewing your position each year rather than assuming the same regime continues to apply. Good preparation also keeps the accounts, the Companies House filing and your separate Corporation Tax obligations clearly distinguished, so nothing is overlooked.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, a set of rules that allows smaller companies to prepare simpler financial statements than those required under the fuller standards such as FRS 102. Put simply, FRS 105 is the accounting framework that a qualifying company uses when it chooses to apply the micro-entities regime — the two go together. Under FRS 105, the financial statements are typically shorter and more streamlined, with a simplified balance sheet, a simplified profit and loss account and far fewer disclosure notes. That can make the accounts quicker to read and easier for directors and lenders to follow, although it also means less detail is presented than a larger company would provide. Choosing the regime is a decision for the directors, and it only becomes available once the company qualifies. Because the rules and size conditions can change, and because some companies are excluded regardless of size, it is sensible to confirm your position before the accounts are prepared.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Eligibility is assessed against the size conditions for the accounting period in question. For periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the following 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. However, the size tests are only part of the picture. Other eligibility rules and exclusions can apply depending on what the company does and how it is structured, so a company that fits within the thresholds is not automatically entitled to use the regime. Directors also need to decide whether the micro-entities regime is the most appropriate choice for their circumstances. For companies in Enfield and across the UK, the sensible approach is to review eligibility each year before the accounts are prepared, rather than assuming that the regime used last time will always apply.

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

Well-prepared FRS 105 Micro Entity Accounts begin with accurate financial records. We work from your bookkeeping, bank and payment records, sales and purchase information and any other relevant supporting documents to build a set of financial statements that reflects what has actually happened in your company during the period. The accounts are prepared in line with the micro-entities regime and the applicable reporting requirements, and we take the time to check that the figures hang together and the presentation is consistent with the framework being used. Preparation of the financial statements and the filing of those accounts at Companies House are dealt with as distinct steps, and both are separate again from your Corporation Tax position — a CT600 is a Corporation Tax Return submitted to HMRC, not part of the accounts themselves. We can help you understand how the three fit together, what information is needed at each stage, and where your responsibilities as a director begin and end, so you can approach filing with confidence rather than guesswork.

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Get Help With Your FRS 105 Micro Entity Accounts in Enfield

If you run a company in Enfield and think the micro-entities regime may suit you, the next step is a straightforward conversation. Tell us about your company — its trading activity, its size, how it has been preparing accounts so far, and when your accounting period ends — and we can look at whether FRS 105 Micro Entity Accounts are likely to be a good fit for your circumstances. It also helps to have your records to hand, including your bookkeeping, bank statements and details of any assets, liabilities, loans or dividends, so we can assess what is involved before any work begins. We will explain the process clearly, set out what we need from you and how the accounts, the Companies House filing and your separate Corporation Tax obligations connect, so you can make an informed decision about how to proceed.

─── 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 sets out how a qualifying company that has chosen to apply the micro-entities regime prepares and presents its financial statements, including the balance sheet, the profit and loss account and the limited disclosures that accompany them. It is deliberately simpler and shorter than the fuller standards used by larger companies, which is why it is popular with very small trading companies and contractors.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and whose directors decide to apply it. Qualifying is not just about size — certain companies are excluded from the regime regardless of how small they are, and the eligibility rules should be checked for each accounting period. Meeting the size conditions alone does not automatically mean a company must, or can, use FRS 105.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available option rather than a requirement. A company that qualifies may choose to apply it, in which case FRS 105 applies, or it may instead prepare accounts under a fuller framework such as FRS 102. The decision is normally taken by the directors and should reflect the company's circumstances, including the needs of anyone who relies on the accounts, such as lenders or investors.

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 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 during the period. This is subject to the relevant rules and exclusions, so satisfying the size conditions does not on its own guarantee that the regime is available.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 105 is the streamlined framework for qualifying micro-entities, with a simplified balance sheet and profit and loss account and much reduced disclosure. FRS 102 is the fuller standard used by larger small companies and others, and it generally requires more detailed accounting treatments and more extensive notes to the accounts. Moving between the two is a reporting decision that should be considered carefully.

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

If your company is required to file annual accounts, those accounts are submitted to Companies House, and where the micro-entities regime has been applied they will be prepared under FRS 105. Filing the accounts and preparing them are separate steps, and the accounts should not be confused with your Confirmation Statement, which is a different filing altogether. The exact filing requirements depend on your company's circumstances.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC and is a separate filing with a separate purpose, even though the figures in the accounts will usually inform it. Keeping the two clearly distinguished helps avoid confusion about what is due, to whom, and when.

What information is needed to prepare FRS 105 accounts?

In most cases we need your bookkeeping or accounting records for the period, bank and payment processor statements, sales and purchase information, details of any assets owned by the company, information on loans, director's loans, dividends and share capital, plus any previous year's accounts. Having these together before work starts makes the process smoother and reduces the number of questions that come up along the way.