─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shefford

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK companies that choose to use the micro-entities regime. If your company meets the relevant size conditions and the regime suits your circumstances, FRS 105 can offer a simpler, more streamlined set of financial statements than the fuller frameworks available to larger businesses. In Shefford, we help directors and owners of small limited companies work through what FRS 105 Micro Entity Accounts involve, what information is needed, and how the figures should be presented. We look at your bookkeeping, records and reporting requirements, then prepare accounts that reflect your company’s actual position rather than a generic template. Eligibility depends on the rules and exclusions that apply to your company, so we start by confirming whether the micro-entities regime is genuinely available to you before any accounts are prepared.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the UK’s micro-entities regime, which is an optional accounting regime that qualifying companies can choose to apply. When a company qualifies for that regime and decides to use it, FRS 105 is the standard that governs how its financial statements are put together. In practice, FRS 105 keeps things lean. It allows a simpler balance sheet and profit and loss account format, and it comes with reduced disclosure requirements compared with the larger reporting frameworks, so the accounts focus on the essential information rather than lengthy notes. It is also worth being clear about what FRS 105 is not. It is not a tax return, and it is not a substitute for your other Companies House or HMRC obligations. It is the accounting and reporting framework that shapes the financial statements themselves. For a small company in Shefford that wants straightforward, proportionate reporting, understanding whether the micro-entities regime fits is usually the first practical question to answer.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the UK micro-entities regime and 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. Those figures are a starting point rather than the whole test. Other eligibility rules and exclusions can apply, and certain companies are not able to use the micro-entities regime regardless of their size. Meeting the thresholds therefore does not automatically mean FRS 105 is available to you, and choosing the regime is a separate decision from qualifying for it. If your company is based in Shefford and you are unsure where you stand, the sensible step is to review your accounts and circumstances against the current rules before committing to a reporting framework for the year.

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

FRS 105 Micro Entity Accounts should be built from your company’s actual financial records, not from estimates or assumptions. We begin with the information you hold — bank transactions, sales and purchase records, expenses, assets and liabilities — and use it to produce financial statements that follow the presentation and disclosure requirements of FRS 105 where the micro-entities regime applies to your company. That means getting the balance sheet and profit and loss account into the right shape, keeping the disclosures proportionate, and making sure the figures are consistent with the underlying records. It is also important to separate the different pieces of company administration. Preparing and filing FRS 105 financial statements with Companies House is a distinct exercise from meeting your Corporation Tax obligations, which are dealt with through a separate Company Tax Return (CT600) submitted to HMRC. A Confirmation Statement is a further, separate filing. We are clear about which task is which, so you know exactly what is being prepared, what it covers, and what remains outstanding.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Shefford

If you would like help with FRS 105 Micro Entity Accounts, get in touch and tell us a little about your company. It helps to know your accounting period, the nature of your business, roughly what your turnover, balance sheet total and employee numbers look like, and how your records are currently kept. From there we can talk through whether the micro-entities regime is likely to be available to you, what the accounts will need to include, and how the preparation and filing process would work in practice. Whether you are newly incorporated, switching framework, or simply want your year-end accounts handled by someone who deals with FRS 105 regularly, a short conversation is the easiest way to find out where you stand.

─── 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 designed for micro-entities. It sets out how qualifying companies that choose to apply the micro-entities regime should prepare their financial statements, including a simplified format for the balance sheet and profit and loss account and reduced disclosure requirements compared with larger reporting frameworks.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and decide to apply it. Qualification depends on the applicable size conditions as well as other rules and exclusions that can affect specific companies. Meeting the size conditions does not automatically guarantee eligibility, so it is worth checking your company's position rather than assuming the regime applies.

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 can choose to apply it, but it is also possible to prepare accounts under a fuller framework. The decision usually comes down to what suits your circumstances and what your readers or lenders need to see.

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 eligibility rules and exclusions can still apply, so the size tests alone are not the whole picture.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a broader financial reporting standard used by a much wider range of companies, including small companies that use the small entities regime within it. FRS 105 is narrower and simpler, with reduced disclosure and a more streamlined presentation, but it is only available to companies that qualify for and choose the micro-entities regime. In short, FRS 105 is the lighter option where it applies.

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

Where a company prepares its annual accounts under FRS 105, those financial statements normally form the basis of the accounts filed at Companies House, subject to the filing requirements that apply to the company. Filing the accounts is separate from anything submitted to HMRC, so it is worth treating them as distinct tasks on your company calendar.

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

Yes. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities reporting framework. A Company Tax Return, usually referred to as a CT600, is a separate Corporation Tax filing submitted to HMRC. The accounts provide figures that feed into the tax position, but the two documents serve different purposes and go to different bodies.

Can a new limited company use FRS 105?

It may be able to, but a newly incorporated company has no trading history, so the size conditions have to be considered carefully in the context of the rules that apply to first accounting periods. Whether the micro-entities regime is available in your first year is something to confirm based on your specific circumstances rather than assume.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bank and transaction records, sales and purchase information, details of expenses, and a list of the company's assets and liabilities at the period end. If you use accounting software, we can usually work from that directly. Anything unusual, such as loans from directors or significant one-off items, is worth flagging early so it is treated correctly.