─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Luton

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 Micro Entity Accounts are the financial statements you prepare under that framework. FRS 105 is the accounting standard written specifically for micro-entities, and it offers a simpler, more streamlined approach to financial reporting than the standards used by larger companies. Because the regime is optional rather than automatic, the first step is confirming that your company is actually eligible — and then deciding whether FRS 105 suits your circumstances. Our team in Luton works with directors and business owners to review the position, prepare FRS 105 Micro Entity Accounts from your financial records, and make sure the figures presented reflect your company’s activity accurately. That includes getting the disclosure requirements right, keeping the accounts consistent with the underlying bookkeeping, and helping you understand what the numbers mean before anything is finalised. Whether you are newly incorporated, trading steadily, or approaching a point where your size may change, we can talk you through how the micro-entities regime would apply to you.

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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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 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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 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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 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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 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. 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Regime in Plain English

FRS 105 is the UK financial reporting standard that sets out how qualifying micro-entities prepare their annual accounts. In simple terms, it is the lightest-touch accounting framework available to small companies, designed to reduce the amount of detail that has to be disclosed while still producing financial statements that give a true picture of the business. It sits alongside the micro-entities regime, which is a set of rules allowing eligible companies to report in this simplified way. The important point is that the regime is a choice: a company that qualifies is not obliged to use it, and FRS 105 only applies once that choice has been made. Companies that do not qualify, or that decide the regime is not right for them, use a different framework such as FRS 102. For directors in Luton, choosing FRS 105 Micro Entity Accounts often means shorter, more readable financial statements, less disclosure, and a reporting process that fits the scale of a genuinely small business — provided the company’s circumstances and its filing obligations are properly considered first.

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

FRS 105 in the UK is available to companies that qualify for the micro-entities regime and decide to apply it. The regime is aimed at genuinely small companies, and there are size conditions to assess. For accounting 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 number of employees of no more than 10. Meeting those conditions is a starting point rather than a guarantee, because other eligibility rules and exclusions can apply depending on the type of company, its activities and its structure. Some entities are excluded from the regime altogether, and a company that qualifies is still free to choose a different framework. This is why the sensible approach is to review your company’s specific position — its turnover trend, balance sheet, headcount and legal status — before deciding whether FRS 105 Micro Entity Accounts are appropriate. Directors in Luton and the surrounding area can speak to us for a clear, no-jargon assessment of where their company stands.

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

Preparing FRS 105 Micro Entity Accounts is not simply a matter of transferring figures from your bookkeeping software into a template. The accounts need to be built from your company’s financial records, presented in line with the requirements of the framework, and supported by workings that stand up to scrutiny if questions are ever asked. We start with your records — sales, purchases, bank transactions, payroll, expenses and any asset or liability information — and reconcile them so that the figures in the financial statements are grounded in what actually happened in the business. From there we prepare the balance sheet, profit and loss account and any required notes, and we make sure the presentation is consistent with the micro-entities regime. It is worth being clear about the different pieces of the puzzle: the financial statements are one thing, filing them at Companies House is another, and a Corporation Tax Return (CT600) submitted to HMRC is separate again. We handle these as distinct tasks so nothing is confused, and you always know what has been prepared and what still needs to be filed.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Luton

If you would like help with your FRS 105 Micro Entity Accounts, the best next step is a straightforward conversation about your company. Tell us how you trade, roughly what your turnover, balance sheet total and employee numbers look like, and whether you are already filing accounts or just starting out. Share your bookkeeping records, bank statements, payroll information and any relevant documents, and we can assess whether the micro-entities regime is likely to be available to you and whether FRS 105 is the right fit for your circumstances. If it is, we can prepare your financial statements and explain clearly what needs to happen next. If it is not, we will tell you honestly and point you towards the framework that suits you better. Reach out to our Luton team to discuss your requirements.

─── 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 qualifying companies that choose to apply the micro-entities regime prepare their annual financial statements, with significantly reduced disclosure requirements compared with the standards used by larger businesses. It is an accounting framework — it governs how the accounts are prepared and presented, not how much tax a company pays.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it. 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. Meeting the size conditions alone does not automatically guarantee eligibility, because other rules and exclusions can apply, so the company's specific circumstances need to be reviewed.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. The regime is an option, and FRS 105 applies only when a company decides to adopt it. Some companies that are eligible still prefer the familiarity or additional disclosure of another framework, and that is a legitimate choice.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies, and it requires more disclosure and more detailed accounting treatments. FRS 105 is a simplified framework available only to qualifying micro-entities that choose the micro-entities regime. In practice, FRS 105 accounts are shorter and less complex, but they also offer less flexibility in how certain items are presented.

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

Where a company prepares accounts under the micro-entities regime, those accounts are generally the ones filed at Companies House, subject to the applicable filing requirements and any exemptions that may apply to the company. Filing position should always be checked against your company's individual circumstances, as the rules can differ depending on company type and status.

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 accounting framework. A CT600 is a separate Corporation Tax filing that is submitted to HMRC to report the company's taxable profits and calculate the tax due. The two are prepared from the same underlying records, but they are distinct documents with different purposes and different recipients.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 from its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. In practice, a first year of trading is unlikely to breach the size conditions, but the wider eligibility rules and any exclusions still need to be considered, and a company's position should be reviewed rather than assumed.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll details including employee numbers, any loan or finance agreements, details of assets owned by the company, and records of amounts owed to or by the business. Providing complete and accurate records early makes the preparation process smoother and helps reduce queries later.