─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Letchworth

If you run a small company in Letchworth, FRS 105 Micro Entity Accounts may be the simplest way to report your financial position. FRS 105 is the financial reporting framework that applies to qualifying micro-entities that choose to apply the UK micro-entities regime. Choosing that regime means you prepare simpler financial statements, with a reduced set of disclosures and a more straightforward measurement basis than a larger company would use. Professional preparation helps you work from your actual financial records to produce accounts that suit your company’s circumstances, reflect its transactions properly and sit consistently alongside your other filing obligations. It also gives you a chance to ask questions about the figures before anything is finalised. Eligibility is not automatic, so it is worth checking whether your company qualifies before deciding how to prepare and file.

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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  
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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 .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
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   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Your Letchworth Company

FRS 105 is the UK financial reporting standard written specifically for the micro-entities regime. In plain terms, it is a simplified set of accounting rules for the smallest companies. Instead of applying the fuller recognition and measurement rules found in other standards, a company using FRS 105 generally keeps things simple: assets and liabilities are measured on a straightforward historical basis, and the notes to the accounts are far shorter. Importantly, FRS 105 is not a separate tax regime and it is not something a company is forced into. A company that qualifies for the micro-entities regime can choose to apply it, and FRS 105 is the standard that applies when that choice is made. If the regime is not chosen, a qualifying company would usually prepare accounts under a different framework, such as FRS 102 Section 1A. The result of using FRS 105 is a set of FRS 105 financial statements that still shows the company’s financial position and performance clearly, but in a format designed to be proportionate to a micro-entity’s size and the needs of its readers.

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

FRS 105 is designed for companies that qualify for the UK micro-entities regime and 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 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 the whole story, however. Other eligibility rules and exclusions apply, and some companies are prevented from using the regime regardless of their size — for example, certain entities are excluded because of their legal form or the nature of their activities. There is also the question of choice: even an eligible company is not obliged to adopt the micro-entities regime, and directors may decide that a different framework better suits their circumstances. For companies in Letchworth considering FRS 105 Micro Entity Accounts, it is worth reviewing eligibility against the current rules for your specific accounting period rather than assuming the criteria that applied in an earlier year still 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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your records — bookkeeping, bank and credit card transactions, sales and purchase invoices, payroll information where relevant, and details of any assets or liabilities the company holds. From there, the figures are assembled into a balance sheet, a profit and loss account and the limited notes that FRS 105 requires, applying the disclosure and measurement rules that suit a micro-entity. It is useful to keep two separate things in mind. First, the accounts themselves are prepared under the applicable reporting requirements and, for a company, are generally filed at Companies House. Second, Corporation Tax is handled separately: a CT600 is submitted to HMRC, and the tax computation starts from the figures in the accounts but is not the same document as the accounts. Similarly, a Confirmation Statement is a distinct filing and does not replace annual accounts. Working with an accountant who prepares FRS 105 accounts regularly can help reduce the risk of errors and inconsistencies, though no preparation service can guarantee a particular filing outcome.

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Get Help with Your FRS 105 Micro Entity Accounts in Letchworth

If you are unsure whether your company qualifies for the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, get in touch to talk it through. Tell us about your company, its activities and its accounting period, and share the records and information we need to assess your circumstances — things like your bookkeeping, bank statements, invoices, payroll details and last year’s accounts if you have them. We can talk you through how FRS 105 works, what it means for your financial statements, and how your accounts fit alongside your other obligations. Clear, transparent pricing and a straightforward process, with no jargon and no pressure.

─── 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 the micro-entities regime. It sets out simplified rules for recognising, measuring and disclosing items in the financial statements of the very smallest companies. Compared with fuller standards, it offers a much shorter notes section and a simpler measurement basis, which makes it well suited to a company whose affairs are straightforward and whose readers need a clear but proportionate picture of its financial position and performance.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and that choose to apply it. Two things have to line up: the company must fall within the size criteria and any other relevant eligibility rules, and the directors must actually decide to use the micro-entities regime. A company that qualifies but does not make that choice would generally prepare its accounts under a different framework, such as FRS 102 Section 1A.

Is FRS 105 compulsory for every micro-entity?

No. Applying the micro-entities regime is a choice rather than an obligation. A company that meets the size conditions is eligible to use it, but it is not required to. Some directors prefer the additional options available under FRS 102 Section 1A, for example where they want to apply a different accounting policy. Whether FRS 105 is the right fit depends on the company's circumstances, its transactions and what its users expect from the accounts.

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. Other rules and exclusions can affect whether a company actually qualifies, and certain types of company are excluded from the regime altogether, so meeting the size conditions on their own does not automatically guarantee eligibility.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting frameworks, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard: it is deliberately narrow in scope, with a simple measurement basis, very limited accounting policy choices and a short set of disclosures. FRS 102 is the wider standard, and Section 1A of it is the small companies regime; it allows more accounting options and requires more disclosure. The practical effect is that FRS 105 accounts look simpler and more condensed than FRS 102 accounts for a company of similar size.

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

Yes. A company with a Companies House filing obligation normally files annual accounts, and where the company has chosen the micro-entities regime those accounts are FRS 105 financial statements. Companies House offers a simplified filing format for micro-entity accounts, which means the figures filed can be presented in a more condensed way than full accounts. Filing the accounts is a separate exercise from filing a Confirmation Statement, which confirms company details rather than reporting financial results.

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

Yes, they are two distinct documents going to two different places. The FRS 105 accounts are the company's financial statements, prepared under the applicable reporting requirements and generally filed at Companies House. The CT600 is a Corporation Tax Return submitted to HMRC. The tax computation that supports a CT600 normally starts from the profit shown in the accounts, but it then applies tax adjustments, so the taxable figure can differ from the accounting profit.

What information is needed to prepare FRS 105 accounts?

Most of what is needed comes from your ordinary records: bookkeeping or accounting software data, bank and credit card statements, sales and purchase invoices, payroll and employment details where the company has staff, and information about assets such as equipment, vehicles or loans. It also helps to have the previous year's accounts so comparatives and opening balances can be checked. Once the records are complete and consistent, the figures can be assembled into FRS 105 financial statements that reflect the company's position for the period.