─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Old Hatfield for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts in Old Hatfield are prepared under the financial reporting framework that applies to qualifying UK micro-entities which choose to apply the micro-entities regime. FRS 105 sits alongside other UK accounting frameworks, but it is the one written specifically for companies within the micro-entities size limits, offering a simplified approach to recognition, measurement and disclosure. Choosing it is a decision rather than an automatic default, so it is worth checking that your company both qualifies for the regime and benefits from it. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your actual financial records, are presented in line with the applicable requirements, and are consistent from one year to the next. For directors in Old Hatfield running a small limited company, that means less time wrestling with disclosure notes and more confidence that the figures filed at Companies House genuinely represent the position of the business.

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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 300 reviews 
    
 
 
 
   
 
 
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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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   3rd Hub 
 
 
 
 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: The Micro-Entities Regime and Your Financial Statements

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to use the micro-entities regime. In plain terms, it is the simplest statutory accounting framework available to a small UK limited company. Instead of the fuller disclosure and fair value style measurement options found in other standards, FRS 105 keeps things straightforward: your financial statements are prepared largely on a historical cost basis, with a much shorter set of notes and simpler presentation requirements. The micro-entities regime is a choice available to companies that meet the relevant size criteria, and FRS 105 applies when that regime is selected for the accounting period. The result is a set of financial statements — typically a balance sheet, a profit and loss account and a small number of notes — designed to give a clear, proportionate picture of a micro-entity’s affairs. If your company in Old Hatfield is considering FRS 105 Micro Entity Accounts, understanding this distinction between the regime and the standard is a useful first step before deciding what to file.

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

FRS 105 is intended for UK companies that both qualify for the micro-entities regime and choose to apply it. On size, a company generally needs to meet at least 2 of the 3 applicable conditions for accounting periods beginning on or after 6 April 2025: 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 conditions does not, on its own, guarantee access to the regime. Other eligibility rules and exclusions can apply depending on the type of entity and its activities, so a company that looks micro-sized on paper still needs its specific position checked. It is also worth remembering that eligibility and choice are two different things: a company may qualify and yet decide that the fuller disclosure of another framework better suits its circumstances. For businesses in Old Hatfield considering FRS 105 Micro Entity Accounts, the sensible approach is to review your turnover, balance sheet total and employee numbers, then confirm that no exclusion applies before the regime is adopted for the period.

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 in Old Hatfield

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records: bookkeeping, bank and payment records, invoices, payroll information and details of any assets or liabilities. Those records are then shaped into financial statements that follow the recognition, measurement and disclosure requirements of FRS 105, including the reduced presentation that the micro-entities regime allows. It is important to keep two obligations separate in your mind. Statutory accounts prepared under FRS 105 are the financial reporting element, and for most companies they are filed with Companies House in the required format. Corporation Tax is a different matter entirely: a CT600 return, together with supporting computations, is submitted to HMRC to report taxable profits, and it is not the same document as your FRS 105 accounts. The figures in each should be consistent and reconcilable, but the purposes, formats and recipients differ. Working with someone who prepares FRS 105 Micro Entity Accounts in Old Hatfield can help you produce financial statements that are based on your records and the applicable reporting requirements, and can help you approach both the Companies House filing and your tax reporting in an orderly way.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Old Hatfield

If you would like support with FRS 105 Micro Entity Accounts in Old Hatfield, the next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting period, the records you already keep and how you have prepared accounts previously, and we can assess whether the micro-entities regime is likely to be available and suitable for you. It also helps to have details of your income, expenses, assets, liabilities and any director’s loan movements to hand, along with last year’s accounts if there are any. We can then explain what is involved, how the financial statements will be prepared, and how the Companies House filing sits alongside your separate Corporation Tax obligations. Reach out to discuss your FRS 105 Micro Entity Accounts requirements and the information needed to assess your circumstances.

─── 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 companies using the micro-entities regime. It is a simplified framework: financial statements are generally prepared on a historical cost basis, with a much shorter set of disclosure notes and a straightforward presentation than the fuller small company standards. It applies when a qualifying company chooses the micro-entities regime for an accounting period, and it governs how the statutory financial statements for that period are drawn up.

Is FRS 105 compulsory for every micro-entity?

No. Being small enough to fall within the micro-entity size limits does not force you to use FRS 105 Micro Entity Accounts. The micro-entities regime is an available accounting regime, and FRS 105 applies when that regime is chosen. A qualifying company may instead prepare its accounts under another framework, such as FRS 102 Section 1A for small entities, which involves fuller disclosure. The right choice depends on the company's circumstances, its reporting needs and who relies on 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 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. Meeting the size conditions is not the whole picture — other eligibility rules and exclusions can apply, so qualification should always be checked against the specific rules for your company and accounting period rather than assumed.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company and levels of disclosure. FRS 102 is the main framework for larger entities, and FRS 102 Section 1A provides a reduced-disclosure version for small companies. FRS 105 goes further still, offering the lightest disclosure and presentation regime available, and it is only available where the micro-entities regime applies. In practice, FRS 105 means fewer notes, simpler measurement and a shorter set of financial statements, which suits a straightforward micro-entity but may be too limited for a company with more complex transactions or external reporting expectations.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Statutory accounts are generally filed at Companies House for a UK limited company, and micro-entity accounts can be delivered using the reduced disclosure that the regime permits. The precise filing position depends on the company's circumstances and the year in question, so it is worth confirming what applies to you rather than relying on a general rule. Filing your accounts at Companies House is a separate exercise from reporting to HMRC, even though both may draw on the same underlying figures.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are separate requirements. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime and, for most companies, filed at Companies House. A CT600 is a Corporation Tax return submitted to HMRC, usually with computations showing how accounting profit is adjusted to taxable profit. The two should be consistent with one another, but they are different documents with different formats, purposes and recipients, and preparing one does not automatically mean the other has been dealt with.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use the micro-entities regime, but it is not automatic. Eligibility depends on the company's size and on the other rules and exclusions that apply, and a first accounting period can raise its own considerations, such as how the period length affects the size assessment. The practical approach is to review the company's expected activity and records before assuming FRS 105 applies, then confirm which framework is appropriate before the first set of financial statements is prepared.

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

Useful information typically includes your bookkeeping or accounting records for the period, bank and payment provider statements, sales and purchase invoices, payroll details if you employ staff, details of any loans or director's loan movements, an asset register or purchase records for equipment and vehicles, stock or work-in-progress figures where relevant, and the previous year's accounts for comparison. The more complete and organised your records are, the more efficiently the financial statements can be prepared and the easier it is to keep them consistent with your separate Corporation Tax reporting.