─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wheathampstead

FRS 105 Micro Entity Accounts in Wheathampstead are prepared under the financial reporting framework that applies to qualifying UK micro-entities which have chosen to use the micro-entities regime. FRS 105 is a distinct, simplified reporting standard: it sets out how the financial statements of a qualifying micro-entity should be drawn up, including the formats available, the disclosures required and the measurement rules that apply. Because the regime is optional rather than automatic, the starting point is always a proper look at the company’s circumstances — its turnover, balance sheet total and employee numbers, along with any rules or exclusions that might affect eligibility. From there, professional preparation helps make sure the accounts reflect the company’s actual financial records, are presented in a format suited to a micro-entity, and are consistent with the framework the company has chosen to apply. If you are a director of a small company in Wheathampstead wondering whether FRS 105 Micro Entity Accounts are the right route for your year end, we can talk through your position, explain what the framework involves in practice, and prepare the accounts on that basis.

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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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 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

In plain terms, FRS 105 is the UK accounting standard written specifically for micro-entities — the smallest companies that qualify for the micro-entities regime. Most companies prepare their accounts under FRS 102, which is the general standard for smaller entities, but FRS 105 offers a more streamlined alternative for those who meet the size tests and decide to use it. It sits alongside the micro-entities regime rather than replacing it: the regime is the legal option available to qualifying companies, and FRS 105 is the reporting standard that applies when that option is taken. What does that mean day to day? FRS 105 accounts are simpler in structure, with a reduced set of disclosures and a more straightforward approach to measuring items in the financial statements. The trade-off is that the framework is deliberately prescriptive, so the accounts need to be prepared carefully and consistently within its rules. Understanding whether FRS 105 is available to your company — and whether it genuinely suits your circumstances — is the first step before any figures are put together.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and decide to apply it. Qualifying is a two-part question: does the company meet the size criteria, and is the regime actually available to it? 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 those thresholds is the usual starting point, but it is not the end of the test. Other eligibility rules and exclusions can apply, and certain companies may be outside the regime regardless of their size. Directors also have a genuine choice: qualifying does not force a company into the micro-entities regime, and some businesses prefer the wider framework of FRS 102. For companies in Wheathampstead considering FRS 105 Micro Entity Accounts, the sensible approach is to review the year’s figures against the conditions, check for any exclusions, and confirm the framework that best fits how the company is run and what its accounts are used for.

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 Built on Your Financial Records

Preparing FRS 105 Micro Entity Accounts starts with your records: the bookkeeping, bank information, invoices, expenses and asset details that sit behind the numbers. From those records, the financial statements are built — a balance sheet, a profit and loss account where applicable, and the accompanying notes and disclosures required under the framework. The aim is straightforward, accurate financial reporting that presents your company’s position in line with the standard you have chosen to apply, rather than a generic set of figures. It is worth being clear about how the different obligations fit together. Preparing the financial statements and filing them with Companies House is one task; dealing with Corporation Tax, including a CT600 return submitted to HMRC, is a separate one with its own deadlines and calculations. A Confirmation Statement is separate again. We can handle the accounts preparation and the filing, and we can also support you with the wider compliance picture where you need it, so you are not juggling disconnected pieces. We work from the information you provide and apply the reporting requirements that are relevant to your company; we do not claim that any filing is guaranteed to be accepted, and acceptance of documents remains a matter for the relevant authority.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with FRS 105 Micro Entity Accounts in Wheathampstead, the best next step is a conversation. Tell us about your company — what it does, how it has traded, and what you already have in the way of records — and we can look at whether the micro-entities regime is likely to be available to you and what preparing accounts under FRS 105 would involve. It also helps to have your latest figures, details of any assets or liabilities, and information about your year end to hand, so the discussion is grounded in your real circumstances rather than generalities. Whether you are filing for the first time, switching framework, or simply want a clearer picture before your next accounts are due, we can explain the options and the practical steps. Get in touch and we will take it from there.

─── 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 how the financial statements of a qualifying micro-entity should be prepared, including the formats that can be used, the measurement rules that apply and the disclosures that are required. It is a shorter, more streamlined standard than FRS 102, which is the framework most other small companies use. FRS 105 works hand in hand with the micro-entities regime: the regime is the option available to qualifying companies, and FRS 105 is the standard applied when that option is chosen.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification depends on size criteria and on the wider rules and exclusions that sit around the regime, so meeting the size tests alone does not automatically mean a company is eligible. Some companies are excluded for other reasons, and the position can change from year to year. Because of that, eligibility is best confirmed by looking at the specific company's circumstances rather than assuming the regime applies.

What are the current micro-entity size 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. Those 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 over the period. Meeting two of the three is the usual starting point, but other eligibility rules and exclusions can still affect whether the micro-entities regime is available, so the criteria should not be treated as the whole picture.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a mandatory one. A company that fits the size criteria can still choose to prepare its accounts under FRS 102 instead. The decision often comes down to what the directors need from the accounts — for example, whether a more detailed set of financial statements is useful for lenders, investors or internal planning. Once the micro-entities regime is chosen, FRS 105 is the standard that applies for that period.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company. FRS 102 is the general standard for smaller entities and covers a broader range of accounting treatments and disclosures. FRS 105 is narrower and simpler: it applies only to qualifying micro-entities and provides a reduced set of disclosure requirements and a more prescriptive approach to measuring items in the financial statements. In practice, FRS 105 accounts tend to be shorter and less detailed than FRS 102 accounts, but the trade-off is less flexibility in how certain items are presented.

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

FRS 105 accounts form the basis of the annual accounts that a company files at Companies House. The accounts prepared under the framework, and the filing itself, are two connected but distinct steps: the financial statements are drawn up from the company's records, and the filing then submits those accounts in the required form. This is separate from Corporation Tax, which is handled with HMRC, and separate again from a Confirmation Statement.

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

Yes — they are different obligations. FRS 105 relates to the accounting and financial reporting framework used to prepare your company's financial statements. A CT600 is the Corporation Tax return submitted to HMRC, which deals with the company's tax position for the period. The figures in the accounts often feed into the tax return, but preparing and filing the accounts does not discharge the Corporation Tax obligation, and vice versa. Both need to be dealt with, and they can have different deadlines.

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

Typically we would need your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and expenses, information on any assets and liabilities held at the year end, and particulars of any loans, director balances or share capital. It also helps to know your year end date and what was filed previously, so the accounts are consistent year on year. If your records are incomplete, tell us early — we can usually suggest a practical way to pull the information together before preparation begins.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it qualifies for the micro-entities regime and the directors choose to apply it. In the first period the company may have been trading for less than a full year, which affects how the size tests are assessed. Because other eligibility rules and exclusions also apply, it is worth checking the position before the accounts are prepared rather than assuming the regime fits.