─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ware for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts are the financial statements prepared under the UK micro-entities regime, and they are designed for companies that qualify for that regime and choose to apply it. FRS 105 provides the financial reporting framework itself — the rules on how figures are measured and what is disclosed — while the micro-entities regime is the set of size conditions a company has to satisfy in order to be able to use that framework. In Ware, many owner-managed limited companies find it suits the way they operate, because it keeps the balance sheet and the profit and loss account straightforward and the disclosures lean. Professional preparation helps make sure the accounts are built from your actual accounting records, reflect your company’s own circumstances, and are presented in line with the framework as it applies to you. It also means the figures in your financial statements line up with the records you keep through the year, which makes the reporting process far less of a last-minute scramble.

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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 financial reporting standard that applies to micro-entity accounts in the UK. In simple terms, it is the rulebook for the smallest qualifying companies: it sets out how the numbers in your financial statements are put together and what has to be shown alongside them. The UK micro-entities regime is the regime that allows qualifying companies to report under this simpler framework, and FRS 105 is the standard that applies when a company chooses to use it. Compared with FRS 102, FRS 105 is shorter and far less complex, with simplified measurement and reduced disclosure — for example, it does not permit revaluation or fair value accounting in the way the larger framework does. That can make the accounts quicker to produce and easier to read, but it also means the framework will not suit every company. Qualifying is not automatic: a company needs to meet the applicable size conditions, and there are other eligibility rules and exclusions to consider. The accounts still have to be prepared accurately and filed on time, so it is worth understanding what the framework involves before you decide to apply it.

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

To prepare FRS 105 Micro Entity Accounts, a company needs both to qualify for the UK micro-entities regime and to choose to apply it — the two go together, but they are not the same thing. 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 figures are the starting point rather than the whole story. The conditions are applied in line with the relevant rules, certain companies and groups are excluded from the regime altogether, and qualifying in one period does not automatically mean a company qualifies in the next. Meeting the size thresholds on its own does not guarantee that the micro-entities regime is available, and it never obliges a company to use it. Where a company does qualify, applying FRS 105 remains a choice, and it is worth weighing up the simpler reporting against the framework’s more limited measurement and disclosure options before deciding. If you are based in Ware and want a clear view of where your company stands, we can work through your circumstances with you.

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 in Ware

Our work on FRS 105 Micro Entity Accounts in Ware starts with your financial records and the reporting requirements that apply to your company. We prepare your financial statements — typically a balance sheet, a profit and loss account where required, and the related notes — using the information you provide, such as bank statements, sales and purchase records, payroll data, details of fixed assets, and any loans or director balances. The accounts are then presented in the format required under FRS 105 for the micro-entities regime. Filing your accounts with Companies House is a separate step from your Corporation Tax obligations: the financial statements go to Companies House, while your company’s Corporation Tax position is dealt with through a separate Company Tax Return (CT600) submitted to HMRC. We can help you see which part of the process is covered by which filing, and keep the two aligned so the figures each one tells are consistent with the other. Nothing is left to guesswork, and any assumptions we make are discussed with you first.

ICAEW

ACCA

AAT

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

If you are unsure whether your company qualifies for the micro-entities regime, or you would simply rather have your FRS 105 Micro Entity Accounts prepared properly, get in touch. Tell us a little about your company — what it does, the period you need accounts for, and the records you already hold — and we can look at your circumstances and explain the options available to you. We will be clear about what we need from you, what the accounts will cover, and how your financial statements and your Companies House filing fit together with your other company obligations. There is no obligation to proceed, and with clear, transparent pricing and fixed-fee options where they suit, you know where you stand before any 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 sets out how micro-entity accounts are prepared. It is a simplified framework, with lighter measurement rules and reduced disclosure compared with FRS 102, and it is designed for companies that qualify for the micro-entities regime and choose to apply it. It covers the content and presentation of the financial statements, not your tax position — your Corporation Tax affairs are dealt with separately.

Who can use FRS 105, and what are the size criteria?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide 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 conditions are applied subject to the relevant rules, and certain companies and groups are excluded from the regime regardless of size, so meeting the thresholds does not automatically mean the regime is available to you.

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 can choose to apply the micro-entities regime — and FRS 105 applies when that choice is made — or it can report under a fuller framework such as FRS 102. Some companies prefer the fuller framework because of the way certain transactions or balances are treated, so it is worth considering which option genuinely suits your circumstances rather than assuming the simplest route is always the right one.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the simpler micro-entities framework, with reduced disclosures and restricted measurement options — for example, it does not allow revaluation or fair value accounting in the way FRS 102 does. FRS 102 is a fuller framework used by larger small companies and others, and it gives more scope in areas such as financial instruments and investment property. The trade-off is straightforward: FRS 105 means less complexity, but also less flexibility.

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

Yes. Where a company prepares its financial statements under FRS 105, those accounts form the basis of the accounts it files at Companies House, within the statutory filing deadline that applies to the company. Filing the accounts is a separate exercise from filing a Corporation Tax Return, and what appears in the filed accounts may be a reduced version of the full financial statements — small companies, including micro-entities, can in certain circumstances choose not to file the profit and loss account.

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

It is. FRS 105 Micro Entity Accounts are your company's financial statements, prepared under the accounting framework and filed at Companies House. A CT600 is a separate Company Tax Return submitted to HMRC to report your company's Corporation Tax position. The two are connected in the sense that both draw on the same underlying records and the figures should be consistent, but they are different documents, with different purposes, different formats and different filing routes.

Can a new limited company use FRS 105?

It may be able to, provided it qualifies for the micro-entities regime and chooses to apply it. A newly incorporated company with modest levels of activity will often fall within the size conditions, but qualifying also depends on the other eligibility rules and exclusions, so it is not something to take for granted. If you have recently set up a company in Ware, we can review your position and set the accounts up on the right footing from the first period.

What information do you need to prepare FRS 105 Micro Entity Accounts?

We normally need your accounting records for the period, including bank statements and reconciliations, sales and purchase records, payroll information where you employ staff, details of any fixed assets bought or sold, and particulars of loans, director balances and other liabilities. Prior year accounts are helpful for consistency, and if your records are not fully up to date we can discuss what is needed to bring them into order. The more complete the information, the smoother the preparation process tends to be.