─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in St Albans

FRS 105 Micro Entity Accounts in St Albans are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. FRS 105 is the standard that sets out how those accounts should be put together, covering the format of the balance sheet, the limited disclosures required and the way figures are measured. Because the regime is optional rather than automatic, the first step is always to look at your company’s circumstances and confirm whether it qualifies, then consider whether FRS 105 is the right fit for how you want your financial statements presented. Professional preparation helps ensure the accounts are built up correctly from your records, are consistent with the accounting policies you have adopted and are presented in a way that reflects your company’s actual position. Whether you are filing for the first time or moving across from FRS 102, having your FRS 105 Micro Entity Accounts prepared by someone who works with the micro-entities regime regularly can reduce the risk of avoidable errors and give you a clearer set of figures to work from.

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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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 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 in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that says how a very small company’s annual accounts should look if that company qualifies for the micro-entities regime and decides to use it. The regime itself is a simplified accounting framework created for the smallest companies, and FRS 105 is the standard that applies when the regime is chosen. Compared with larger frameworks, FRS 105 accounts are shorter and more straightforward: there is a prescribed balance sheet format, a small number of notes, and generally less disclosure about accounting policies and judgements. The trade-off is that the financial statements give a simpler picture of the business, which is exactly the point of the regime. It is worth stressing two things. First, qualifying for the micro-entities regime is not the same as being required to use it — a company that qualifies can choose to apply it, and FRS 105 then applies to those accounts. Second, FRS 105 deals with the accounts and financial statements, not with your Corporation Tax Return. Those are separate exercises with separate rules, even though the figures in each will usually be related.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Both elements matter: eligibility is a question of whether your company meets the rules, while applying the regime is a decision you make about how your accounts will be prepared. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 conditions is an important part of the picture, but it is not automatically the whole answer. The micro-entities rules also contain exclusions and special provisions that can affect whether a particular company can use the regime, and certain company types are treated differently. That is why eligibility should be assessed against your company’s own situation and the rules in force for the relevant accounting period, rather than assumed from headline thresholds alone. If your company appears to qualify and the regime looks like a good fit, FRS 105 becomes the framework for preparing your financial statements. If it does not qualify, or if the additional disclosure of another framework suits your business better, a different reporting standard will apply — and it is better to establish which one early, before you start preparing FRS 105 Micro Entity Accounts in St Albans.

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 case of dropping your figures into a template. The accounts need to be built from your company’s underlying financial records — bank statements, sales and purchase records, expense documentation and any asset or liability information — and then presented in line with the reporting requirements that apply to the micro-entities regime. That means getting the balance sheet format right, applying the measurement rules consistently, and including the disclosures that FRS 105 actually requires while leaving out those it does not. It also means keeping two separate strands clear in your mind. The first is the preparation of the financial statements themselves, which is an accounting and reporting exercise. The second is filing those accounts with Companies House, which is a separate statutory step with its own submission route. A third, distinct strand is your Corporation Tax obligations, which are dealt with through a Company Tax Return (CT600) submitted to HMRC rather than through the accounts themselves. Working with an accountant who handles FRS 105 Micro Entity Accounts regularly helps you keep those strands properly separated, ensures your figures are internally consistent, and gives you a set of financial statements you can understand rather than simply file and forget. Nothing here removes your company’s own responsibility for what is submitted, and no outcome can be guaranteed in advance — but careful, methodical preparation puts you in a much stronger position.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in St Albans

If your company may qualify for the micro-entities regime and you want your FRS 105 Micro Entity Accounts prepared properly, the best place to start is a conversation. Tell us about your business — what it does, how long it has been trading, the shape of its income and costs, and whether you are currently preparing accounts under a different framework. Share your latest financial records, any previous accounts and details of your accounting period, and we can assess your circumstances and explain what applying FRS 105 would mean in practice for your company. We can also talk you through how the accounts sit alongside your Companies House filing and your separate Corporation Tax Return obligations, so you know what is being handled where. Clear, transparent pricing and a straightforward process are part of how we work, and there is no obligation to proceed after an initial discussion. Get in touch and we will help you decide on the right next step for your FRS 105 Micro Entity Accounts.

─── 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 for their annual accounts. It sets out how the financial statements should be presented, including a prescribed balance sheet format and a reduced set of disclosure requirements compared with larger-company frameworks. It is an accounting and reporting standard, so it governs the accounts themselves rather than your tax return.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is not the same as being required — a company that is eligible can still decide to prepare accounts under a different framework. Eligibility depends on meeting the applicable size conditions and on not falling foul of the various exclusions and special rules, so it is always worth checking your specific circumstances rather than assuming.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies may choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer the additional disclosure and detail available under another framework, so the decision is a matter of what suits the business and its stakeholders.

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 story, as other rules and exclusions can apply — for example in relation to certain types of company or group structures. Eligibility should therefore be confirmed against the rules in force for your particular accounting period.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the micro-entities standard, with a simplified balance sheet format and far fewer disclosures. FRS 102 is the standard used more widely, including by small companies that do not use the micro-entities regime, and it involves more detailed recognition, measurement and disclosure requirements. Moving between the two can affect how items are presented and how much information appears in the notes, so the transition should be handled carefully.

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

Preparing accounts under FRS 105 and filing accounts with Companies House are two separate steps. The accounts you prepare are the financial statements; filing them is a statutory obligation that a company generally needs to meet regardless of which reporting framework it uses. Preparing FRS 105 Micro Entity Accounts does not remove or replace that filing duty, and it is worth keeping the accounting work and the submission process clearly distinguished in your records and your timetable.

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

Yes. A Company Tax Return (CT600) is a Corporation Tax filing submitted to HMRC, and it is a distinct obligation from preparing and filing annual accounts. FRS 105 governs how the financial statements are prepared; the tax return deals with the company's tax position and follows tax rules rather than accounting presentation rules. The two are related because the accounts usually provide the starting point for the tax computation, but they are not the same document and should not be treated as interchangeable.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use the micro-entities regime if it meets the applicable conditions and does not fall within any exclusion. In practice, a first-year company often has limited turnover and few employees, but eligibility still needs to be assessed against the rules for that specific period and against the company's own circumstances. It is worth confirming the position early, because the framework you adopt shapes how your first set of accounts is presented.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your financial records for the accounting period — bank statements and reconciliations, sales and purchase information, expense documentation, payroll details where relevant, and details of any assets, liabilities, loans or share capital. Previous accounts, your company registration details and your accounting period dates are also useful. The more complete and organised the records, the more straightforward the preparation process tends to be.

What changes are coming to micro-entity accounts filing?

The rules and filing arrangements around company accounts and the micro-entities regime do change from time to time, including in areas such as how accounts are submitted and what information is required. Because the detail matters and can vary depending on your accounting period and company type, it is worth checking the current position for your own filing rather than relying on general summaries or older guidance. We can talk you through what applies to your company when you get in touch.