─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Welwyn

FRS 105 Micro Entity Accounts in Welwyn are prepared under the financial reporting framework for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 sits at the simplest end of the UK accounting standards, which means the financial statements look different from those produced under FRS 102 — fewer disclosures, no revaluations or fair value adjustments, and a more streamlined balance sheet and notes. If your company is based in or around Welwyn and you believe it may fall within the micro-entity size limits, professional preparation can help ensure the accounts are put together appropriately for your circumstances, reflect your underlying records, and are presented in line with the regime you have chosen rather than simply following the previous year’s format. Eligibility is not automatic, and it is worth checking your position each year before deciding which framework to use.

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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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies that meet the size conditions set for the micro-entities regime. In plain terms, it is a simplified set of accounting rules that a qualifying company can choose to apply when preparing its annual financial statements. If the micro-entities regime is the framework your company uses, then FRS 105 is the standard those accounts are prepared under. The practical effect is a leaner set of accounts: a simpler balance sheet, a profit and loss account, and far fewer notes than you would see under FRS 102. Some measurement rules are also tightened — for example, FRS 105 does not permit revaluation of assets, fair value accounting for investment property, or recognition of deferred tax. Using FRS 105 is a choice available to companies that qualify; it is not something that applies automatically to every small company, and it is not the right answer for every business. Reviewing your circumstances each year helps you decide whether the micro-entities regime continues to suit you.

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

FRS 105 is designed for UK companies that qualify for the micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, the size conditions are 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, with a company generally needing to meet at least 2 of these 3 conditions. That is the starting point, not the whole test. Certain companies are excluded from the regime regardless of their size — for example, some regulated entities and companies that form part of a group in certain circumstances — so meeting the thresholds does not automatically mean a company is eligible. Eligibility should be assessed alongside your structure, ownership and activities, and reviewed each year, because a growing business can move out of the limits. If your company is based in Welwyn and you are unsure where you stand, we can look at your figures and circumstances and explain whether FRS 105 Micro Entity Accounts are likely to be available to 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 Micro Entity Accounts for Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is more than copying figures into a template. The accounts need to be built from your company’s financial records — bookkeeping, bank transactions, sales and purchase information, asset details and any loans or director balances — and then presented in accordance with the applicable reporting requirements for the micro-entities regime. Our work covers the preparation of the financial statements themselves, including the balance sheet, profit and loss account and the limited notes that FRS 105 requires. Filing those accounts at Companies House is a separate step from your Corporation Tax position: a CT600 is a distinct submission made to HMRC, and the figures that feed into it are not automatically the same as the accounts you file at Companies House. Where you need support with both, we can look at them together so the picture is consistent, while being clear that preparing accounts and filing them does not guarantee any particular outcome or acceptance by a registry or tax authority.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you are running a company in Welwyn and want to understand whether the micro-entities regime suits you, or you simply need your FRS 105 Micro Entity Accounts prepared properly this year, get in touch. Tell us a little about your company — what it does, how it is structured, roughly how it has traded, and what you currently do about bookkeeping and year-end accounts — and we can assess your circumstances and explain the options open to you. Whether you are filing for the first time, switching framework, or just want a second pair of eyes on last year’s figures, a short conversation is usually the quickest way to get clarity on the way forward.

─── 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 for micro-entities. It sets out a simplified set of accounting and disclosure requirements that a qualifying company can apply when preparing its annual financial statements, provided it has chosen to use the micro-entities regime. Compared with FRS 102, it involves far fewer notes and restricts certain accounting treatments, such as revaluing assets or recognising deferred tax.

Who can use FRS 105?

FRS 105 is intended for 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. Other rules and exclusions apply, and some companies are not eligible even if they meet the size tests, so eligibility should always be checked for your specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than an obligation. A company that qualifies may choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to prepare accounts under FRS 102 instead, for example because of the way they report to lenders, investors or group companies. It is a decision worth revisiting each year as your business changes.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the size conditions are 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. A company generally needs to meet at least 2 of these 3 conditions. Meeting the size tests alone does not guarantee eligibility, because certain companies are excluded from the regime, so the rules need to be applied to your own situation.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard, while FRS 105 is the streamlined version for micro-entities. FRS 105 requires fewer disclosures, does not allow revaluation of assets or fair value accounting for investment property, and does not permit recognition of deferred tax. FRS 102 gives more flexibility in some areas but asks for considerably more disclosure in the accounts. Which one is appropriate depends on your eligibility and how you use the accounts.

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

Companies that are required to file annual accounts will normally file them at Companies House, and FRS 105 accounts are prepared with that filing in mind. Filing accounts is a separate exercise from filing a Corporation Tax Return (CT600) with HMRC, which is a distinct submission. It is also separate again from the Confirmation Statement, which is about confirming company information rather than reporting financial results.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In the first period, the size tests are usually assessed based on the figures for that period, and a company with modest turnover, a small balance sheet and few employees will often fall within the limits. Because eligibility rules and exclusions still apply, it is worth confirming your position before the first set of accounts is prepared.

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

Typically we need your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and purchases, information on fixed assets and any disposals, details of loans, director's loan account movements, and any invoices or contracts that affect the year-end position. If you are moving from another framework or accountant, the prior year accounts and trial balance are also helpful. The cleaner the records, the more straightforward the preparation tends to be.

What changes are coming to micro-entity accounts filing?

Filing requirements at Companies House have been evolving, with a move towards filing accounts in a software-compatible format and changes to what small and micro-entities are expected to include. Because the detail and timing of these changes can shift, it is sensible to check current Companies House guidance rather than relying on older assumptions about abridged or filleted accounts. We can talk you through what the current requirements mean for your filing.