─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Stortford

FRS 105 Micro Entity Accounts are prepared under the UK financial reporting framework designed for qualifying companies that choose to apply the micro-entities regime. If your company is considering this route, the accounts still need to be accurate, consistent with your underlying records and prepared with a clear understanding of the applicable reporting rules. Professional preparation helps ensure that FRS 105 Micro Entity Accounts reflect your company’s actual circumstances — its balance sheet, its results for the period and the disclosures required at this level — rather than a generic template that may not fit. For directors of small companies in Stortford and the surrounding area, that means financial statements that are straightforward to understand, appropriate for a micro-entity and prepared with the care needed for onward filing. It is important to note that the micro-entities regime is an available option rather than an automatic one: eligibility depends on the size conditions and on other rules and exclusions, so each company’s position should be reviewed before the framework is applied.

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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 in Simple Terms

FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. In plain terms, it is the simplest accounting framework available to the smallest qualifying companies, and it is designed to keep financial statements short, clear and cost-effective to prepare. FRS 105 Micro Entity Accounts are normally prepared on a historical cost basis, with a reduced set of disclosures compared with larger reporting frameworks. The link between the regime and the standard matters: the micro-entities regime is something a qualifying company chooses, and FRS 105 is the standard that then applies when that choice is made. So a company does not simply “become” an FRS 105 company — it qualifies under the applicable size conditions, decides whether to use the micro-entities regime, and the accounts follow from that decision. For directors in Stortford running a small limited company, understanding this distinction helps you ask the right questions about your statutory accounts, what they will include and how they interact with your other filing obligations.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and decide to apply it — it is a choice a qualifying company makes, not a status that applies automatically to every small business. 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. Those conditions give a useful starting point, but they are not the whole picture. Other eligibility rules and exclusions can apply, and certain companies may be prevented from using the regime regardless of their size. A company that qualifies but prefers a fuller reporting framework might instead choose FRS 102 for small entities. If you run a company in Stortford and are weighing up whether FRS 105 Micro Entity Accounts are right for you, reviewing your figures and circumstances against the current rules is the sensible first step.

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 starts with your financial records. We work from the information you provide — bookkeeping records, bank and ledger information, supporting schedules and details of assets and liabilities — to build up a balance sheet and a profit and loss account that reflect the company’s position for the period. Those financial statements are then prepared in line with the reporting requirements that apply at micro-entity level, including the disclosures FRS 105 expects. It is helpful to separate the strands of your compliance: preparation of the FRS 105 Micro Entity Accounts and their submission to Companies House is one task, while Corporation Tax obligations are dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC. A Confirmation Statement is another distinct filing and is not part of the accounts. Because the figures in your accounts and your tax return need to be consistent and properly supported, handling them together, with each obligation clearly identified, usually makes the whole process easier to manage. Nothing here guarantees acceptance of a filing; it is about preparing accounts carefully and based on your records.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts, the best first step is a conversation. Tell us about your company — what it does, how it is structured, when your accounting period ends, and what records you already keep — and we can review whether the micro-entities regime is likely to be available to you and what that means for your financial statements. Bring along your bookkeeping records, bank information and any previous accounts or filings, and we can talk through the information needed to prepare your FRS 105 Micro Entity Accounts, along with how the accounts, your Corporation Tax Return and your other filing requirements fit together. Whether you are a new company preparing first accounts or an established business in Stortford considering a simpler reporting framework, we are happy to explain the options clearly and discuss fixed-fee arrangements so you know where you stand before work begins.

─── 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 the most streamlined framework available for the smallest qualifying companies, allowing short, straightforward financial statements prepared on a historical cost basis with a reduced level of disclosure. If a qualifying company chooses the micro-entities regime, FRS 105 is the standard that governs how its accounts are prepared.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the 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. Meeting the size conditions alone does not guarantee eligibility — other rules and exclusions can apply, including restrictions relating to certain company types and activities, so the position should be checked for each company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it, or it may decide that a different framework, such as FRS 102 Section 1A for small entities, better suits its circumstances — for example where it wants to use fair value or revaluation, or provide fuller disclosures. What matters is that FRS 105 applies when the micro-entities regime is the regime chosen, and that the choice is made with an understanding of the differences.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities framework: it is shorter, uses a historical cost basis and requires fewer disclosures than the small entities regime. FRS 102 is the wider UK and Ireland financial reporting standard; its small entities section allows a broader range of accounting treatments and considerably more disclosure. In practice, FRS 105 appeals to companies that want simple, low-cost statutory accounts, while FRS 102 may be preferable where more detailed reporting is needed or where particular transactions require a treatment that FRS 105 does not permit.

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

Yes — preparing the accounts and filing them are separate steps, and micro-entity financial statements are generally filed at Companies House as part of a company's statutory accounts filing obligations. The filing requirements, and the format in which accounts are submitted, depend on the rules in force at the time and on the company's own position. Separately, a Confirmation Statement is a different filing and does not replace the accounts.

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

It is. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework. A Corporation Tax Return (CT600) is a separate filing made to HMRC to report the company's taxable profits and calculate its Corporation Tax position. The two are linked because the accounts figures usually form the starting point for the tax computation, but they are distinct documents with distinct purposes and distinct recipients.

Can a new limited company use FRS 105?

A newly incorporated company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. New companies need to consider how their first accounting period is treated and whether the applicable size conditions are met, since a first period can be longer or shorter than twelve months and that can affect how the tests are applied. Because eligibility rules and exclusions can also be relevant, it is worth reviewing the position before assuming the regime will apply.

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

Typically we would need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, details of any assets and liabilities, information on loans and director balances, and any previous accounts or filings. If you use accounting software, we can often work from a trial balance or export. Having the records complete and consistent early on makes it much easier to prepare accounts that properly reflect your company's position.

Are the rules around micro-entity accounts and Companies House filing changing?

Filing requirements at Companies House have been subject to reform, and further changes are being introduced over time, including a greater emphasis on filing accounts using software and changes affecting what smaller companies submit. Because the detail and timing of these changes can be updated, it is best to check the current position rather than rely on an old summary. We can talk you through what the rules mean for your company's FRS 105 Micro Entity Accounts when you get in touch.