─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Hatton Garden

If your company keeps things straightforward and you are looking for FRS 105 Micro Entity Accounts in Hatton Garden, understanding the framework behind them is the first step. FRS 105 is the financial reporting standard that applies to qualifying UK micro-entities which choose to apply the micro-entities regime. It allows eligible companies to prepare simpler financial statements than those produced under larger-company frameworks, which can make the reporting process more proportionate for a small business. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are presented in line with the framework as it applies to your company’s own circumstances, including how your records are structured, what disclosures are appropriate, and how the accounts are formatted for filing. Whether you are preparing accounts for the first time or moving across from another framework, we can work through your records with you and explain what is needed at each stage, so the accounts reflect your business accurately and the process feels clear from start to finish.

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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 a UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook a company follows when it qualifies for the micro-entities regime and decides to use that regime to prepare its annual accounts. Where a company takes that route, FRS 105 sets out how the financial statements should be put together, including the formats for the balance sheet and profit and loss account, the notes that are generally required, and the simplified measurement rules that apply. The appeal for many small companies is proportionality: instead of preparing accounts on the same basis as a much larger business, a qualifying micro-entity can produce financial statements built around the framework that suits its size. It is important to remember two things. First, the micro-entities regime is a choice — qualifying companies may apply it, but they are not obliged to. Second, FRS 105 applies when that regime is used, so the standard and the regime go hand in hand. FRS 105 accounts are prepared from your company’s own accounting records, so the quality of those records directly affects how smoothly the process runs.

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

FRS 105 is available to UK companies that qualify for the micro-entities regime and then choose to apply it. Size is the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Meeting those size conditions is not, on its own, a guarantee of eligibility. The regime also comes with its own rules and exclusions, and certain types of company or activity are outside it regardless of size. There is also the question of consistency: once a company decides how to report, there are expectations about applying that approach consistently, and switching frameworks later has consequences for comparatives and figures. For those reasons, it is worth reviewing your position with someone who works with FRS 105 Micro Entity Accounts regularly before committing to the regime, particularly if your turnover or headcount is close to a threshold or your business is growing. If your company does not qualify, or if FRS 105 does not suit your circumstances, accounts can be prepared under another framework instead.

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 is not simply a matter of typing up a set of figures. The accounts need to be built from your company’s underlying financial records, presented in the formats permitted under the framework, and supported by the notes that apply to your circumstances. Where we prepare your FRS 105 Micro Entity Accounts, we start with the information you provide — bank records, sales and purchase records, payroll information, asset details and any other relevant documentation — and use that to construct financial statements that reflect what has actually happened in the business. It is worth separating out the different filing obligations that often get muddled together. The accounts themselves form part of the statutory financial statements, which are generally filed with Companies House. A Corporation Tax Return (CT600) is a separate submission made to HMRC for corporation tax purposes, and the figures used for tax purposes may differ from those in the accounts. A Confirmation Statement is a further, distinct filing that confirms the company’s registered details. Keeping these apart helps you understand what is being submitted, where, and why. We prepare accounts in line with the applicable reporting requirements, but ultimate responsibility for the accuracy and completeness of the information provided, and for the company’s filings, remains with the company’s directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help preparing FRS 105 Micro Entity Accounts, or you are simply unsure whether the micro-entities regime is the right route for your company, get in touch with our team. A short conversation is usually enough for us to understand where you are: whether you already have accounts prepared under another framework, whether you are setting up accounts for the first time, and what your records currently look like. From there we can explain what information we would need from you — typical examples include your year-end bank position, sales and expense records, details of any assets, and information about directors’ loans or other balances — and set out how we would approach the work. Consultation costs are discussed clearly and in advance, with fixed-fee options available for the preparation of accounts, so there are no surprises. We will also make clear which filings relate to the accounts themselves and which relate to separate obligations such as the Corporation Tax Return (CT600) or a Confirmation Statement. Tell us about your circumstances and we will help you decide on the most sensible next step for your business.

─── 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-entities. It sets out how qualifying small companies prepare their annual financial statements when they choose to apply the micro-entities regime, including the permitted balance sheet and profit and loss formats, the required notes, and the simplified measurement rules. It sits within the same family of UK accounting standards as FRS 102, but it is deliberately pared back for the smallest companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and that choose to apply it. It is not available to every small company, and larger businesses, some regulated entities and certain other company types are excluded. Qualifying is a two-stage question: you need to fall within the eligibility rules, and then the company needs to decide to use the regime. Meeting the size thresholds on their own does not automatically mean the micro-entities regime is available, so it is worth checking your specific position before preparing accounts on that basis.

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 for it may still choose to prepare its accounts under a different framework, such as FRS 102. Many qualifying companies opt for FRS 105 because the preparation process is more proportionate, but the decision should take account of the company's circumstances — for example, whether shareholders, lenders or other users of the accounts need a different level of detail.

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 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. These are size conditions, not the whole test. Other eligibility rules and exclusions also apply, and the position can be affected by the company's type of activity and its history. It is sensible to confirm eligibility against the rules in force for your particular accounting period.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company. FRS 102 is the general standard used by a broad range of businesses and includes more recognition, measurement and disclosure requirements. FRS 105 is a much shorter standard designed for qualifying micro-entities, with simpler formats and fewer notes. Moving between the two is not just a matter of changing a label — the figures can be affected, so the transition should be planned rather than left until the year end.

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

The statutory accounts prepared for a company generally need to be filed with Companies House, and where those accounts are prepared under FRS 105 they are filed in that form. The format of what is filed can differ from the full accounts prepared for the members, and there are rules around what a micro-entity must include in its filed accounts. Filing the accounts is a separate exercise from dealing with corporation tax.

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

Yes, these are two different things. FRS 105 concerns the accounting framework used to prepare the company's financial statements. A Corporation Tax Return (CT600) is a separate submission made to HMRC to report the company's taxable profits and calculate its corporation tax liability. The starting point for the CT600 is usually the profit shown in the accounts, but adjustments are common, so the taxable figure can differ from the accounting profit. A Confirmation Statement is a further, unrelated filing that confirms the company's registered details.

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

The exact list depends on your business, but most micro-entities will need their year-end bank balances and bank statements, records of sales and other income, purchase and expense records, payroll information if the company employs staff, details of any equipment or other assets bought or sold, and information about loans to or from directors. If a previous year's accounts exist, those are helpful too. Having these items organised before we start generally makes the process quicker and reduces the number of queries that come back to you.