─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shenley

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the standard used to prepare the simplest form of statutory accounts available under UK GAAP, so it suits smaller companies that want a straightforward, low-complexity set of financial statements. Professional preparation in Shenley can help make sure your FRS 105 Micro Entity Accounts are put together in line with the framework, based on your underlying financial records and your company’s particular circumstances. That includes getting the balance sheet, notes and supporting information into an appropriate shape, and making sure the accounts sit properly alongside your other filing obligations. Eligibility is not automatic — the micro-entities regime is an option available to qualifying companies, and it is worth confirming that it is the right fit before your accounts are drawn up.

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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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 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. 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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 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 financial reporting standard that applies when a qualifying UK company chooses to use the micro-entities regime. In simple terms, it is the lightest accounting framework available for statutory accounts: it keeps measurement simple, generally on a historical cost basis, and it requires far fewer disclosures than the larger reporting standards. When the micro-entities regime is chosen, FRS 105 is the standard that governs how the financial statements are prepared — so you will often hear the two referred to together as FRS 105 Micro Entity Accounts. Because the framework is deliberately streamlined, the accounts tend to be shorter and easier to read, which is helpful for directors and shareholders of smaller companies in Shenley. The trade-off is that some accounting options available under other frameworks are not permitted, so it is important to understand what the regime does and does not allow before deciding to apply it.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide to apply it. Qualification is based on the size conditions that apply to your accounting period. For 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. These conditions sit alongside other rules — including how the figures are measured and averaged, how a shorter or longer first period is treated, and the exclusions that take certain companies outside the regime altogether. Meeting the size thresholds therefore does not guarantee eligibility on its own, and eligibility does not mean the regime must be used: applying it is a choice. For companies in Shenley, the practical step is to review your circumstances, confirm whether the micro-entities regime is available to you, and decide whether FRS 105 or an alternative framework such as FRS 102 Section 1A best suits your reporting needs.

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 Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your company’s own financial records — bookkeeping, bank and payment records, sales and purchase information, payroll data, asset details and any prior year accounts. From that information, the financial statements are built up in line with the reporting requirements that apply to the micro-entities regime, including the balance sheet, the relevant notes and the supporting disclosures. It is useful to keep two distinct areas in view. The first is the preparation of the financial statements and the separate filing of accounts with Companies House. The second is your Corporation Tax position; the accounts inform the tax computation, but the Corporation Tax Return (CT600) is a separate submission made to HMRC. Professional support can help you keep these strands organised, reduce the risk of inconsistencies between them, and ensure the accounts are prepared in a way that reflects your company’s actual circumstances rather than a generic template.

ICAEW

ACCA

AAT

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

If you would like help preparing FRS 105 Micro Entity Accounts, or you are simply unsure whether the micro-entities regime is the right choice for your company, get in touch to discuss your requirements. It helps to have a few things to hand: your latest set of accounts, details of your bookkeeping or accounting records, your company registration information, and a note of any significant transactions or changes during the period. We can then review your circumstances, talk through how the micro-entities regime works, and explain the options available to you — including how accounts preparation fits alongside your Companies House filing and your separate Corporation Tax obligations. There is no obligation, and no outcome is guaranteed; the aim is simply to give you a clear picture so you can decide how you would like to proceed.

─── 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 sets out how the financial statements should be measured and what information needs to be disclosed. It is the most streamlined of the UK accounting frameworks: it generally works on a historical cost basis, does not permit certain fair value and revaluation options, and requires fewer notes than the larger standards. When a company chooses the micro-entities regime, FRS 105 is the framework its accounts are prepared under.

Who can use FRS 105?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is a matter of meeting the applicable size conditions and not falling within any of the rules or exclusions that take a company outside the regime. Meeting the size thresholds on their own does not automatically mean a company is eligible, and choosing the regime is a decision the directors make — smaller companies are not obliged to use it. It is worth confirming your position before the accounts are prepared.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a requirement. A company that qualifies may choose to apply it, and if it does, FRS 105 is the standard that applies. Many qualifying companies instead prepare accounts under FRS 102 Section 1A, which is the framework designed for small companies and offers some accounting options that FRS 105 does not. The right choice depends on your circumstances and what you want from your financial statements.

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, subject to the relevant rules and exclusions: 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. Because the conditions work together with other rules — including how averages and periods are measured, and the exclusions that apply to certain companies — it is important not to assume eligibility from the figures alone.

What is the difference between FRS 105 and FRS 102?

FRS 105 applies to the micro-entities regime and is deliberately simple: limited measurement options, minimal disclosure, and shorter accounts. FRS 102 is the wider standard for UK companies, and its Section 1A sets out the reduced disclosure framework for small companies. FRS 102 offers more accounting choices, such as certain fair value treatments and a different approach to areas like deferred tax, but it also requires more notes and supporting detail. The frameworks also have different eligibility criteria, so a company that does not qualify as a micro-entity may still be able to use FRS 102 Section 1A.

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

For a limited company, statutory accounts normally need to be filed with Companies House, and where the company has used the micro-entities regime the filing can generally be made in the simplified micro-entity format under the current rules. That usually means a balance sheet with the prescribed notes rather than a full set including the profit and loss account. Filing arrangements are changing as Companies House moves towards digital, software-based filing and fuller accounts submissions, so it is worth checking the current position for your period before you file.

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

Yes, and it is a common point of confusion. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a separate Corporation Tax Return submitted to HMRC, with its own filing deadline and its own calculation of taxable profit and tax due. The accounts are usually the starting point for the tax computation, but the accounts filing and the CT600 are two distinct obligations handled through different channels.

What information is needed to prepare FRS 105 accounts?

In practice, we need a reasonably complete picture of your company's finances for the period: bookkeeping or accounting records, bank and payment platform statements, sales and purchase information, payroll details, records of any assets bought or sold, details of loans or other balances, and the previous year's accounts where they exist. Company registration details and information about any significant or unusual transactions are also helpful. The more organised the records, the smoother the preparation tends to be, and we can talk through what is needed for your particular company.