─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Trafford

FRS 105 Micro Entity Accounts in Trafford are prepared under the financial reporting framework that applies to companies which qualify for the UK micro-entities regime and choose to apply it. FRS 105 is the standard that sits behind that regime, and it allows a qualifying company to prepare simpler, shorter financial statements than those required under larger-company frameworks. Whether it is the right choice depends on your company’s size, structure and reporting requirements, so eligibility needs to be considered properly rather than assumed. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are drawn correctly from your records, that the balance sheet and any supporting notes are presented appropriately for your circumstances, and that the accounts are consistent with the rest of your company’s financial information. If your Trafford-based company is considering the micro-entities regime, we can review your position and explain what is involved before anything is filed.

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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 Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It works alongside the micro-entities regime, which is a set of legal provisions that lets qualifying companies prepare their annual accounts in a simplified form. In practice, that means a shorter balance sheet with prescribed minimum headings, far fewer notes than other frameworks, and a simpler approach to measuring assets and liabilities — for example, no fair value accounting or revaluation. Importantly, FRS 105 is not imposed on every small company. A company that qualifies for the micro-entities regime can choose to apply it, and when that choice is made, FRS 105 is the framework the financial statements are prepared under. Some companies prefer FRS 102 for their own reasons, so the decision is one worth taking deliberately. For many Trafford-based owner-managed companies, FRS 105 Micro Entity Accounts offer a clear, proportionate way to report, provided the company genuinely qualifies.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK 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. Those tests sit alongside other rules and exclusions, which means meeting the size thresholds alone does not guarantee that the micro-entities regime is available to a particular company. Some entity types and some situations fall outside the regime altogether, and the position can change from year to year as a company grows or its circumstances shift. For companies based in Trafford, the practical question is not only whether the size tests are met, but whether applying the regime and preparing FRS 105 Micro Entity Accounts suits the company’s reporting needs. We can review your situation and explain what applies to your company.

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

Preparing FRS 105 Micro Entity Accounts is not simply a case of filling in a template. The figures must be built from your company’s financial records — bookkeeping, bank transactions, sales and purchase information, payroll and any asset or liability details — and then presented in line with the micro-entity requirements that apply to your company. We work from those records to draft the balance sheet, prepare any notes that are needed, and keep the accounts consistent with the information used elsewhere. It also helps to keep the different filing obligations separate: the financial statements prepared under FRS 105 and filed at Companies House, a Corporation Tax Return (CT600) submitted to HMRC, and a Confirmation Statement confirming company details are three distinct requirements, each with its own content and purpose. Our role is to prepare your FRS 105 Micro Entity Accounts carefully and explain the basis on which they have been prepared, so you understand what is being reported before it is submitted.

ICAEW

ACCA

AAT

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

If you are unsure whether your Trafford company qualifies for the micro-entities regime, or whether FRS 105 is the right framework for your circumstances, we can help you work through it. Tell us about your company — its structure, trading activity, turnover, balance sheet position and employee numbers — along with your current bookkeeping records or accounting information, and we can assess how your FRS 105 Micro Entity Accounts should be approached. We can also look at how the accounts fit alongside your other obligations, such as your Corporation Tax Return and Confirmation Statement. Get in touch to discuss your requirements on a no-obligation basis and find out what information we would need to move things 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 how a qualifying company that has chosen to apply the micro-entities regime prepares its annual financial statements, allowing a simplified balance sheet with a limited set of notes and simplified measurement rules. It is one of several UK accounting frameworks, and it applies only where a company is eligible for the micro-entities regime and decides to use it.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK size criteria and choose to apply the micro-entities regime. Eligibility depends on the company meeting at least 2 of 3 applicable size conditions, and other rules and exclusions can also affect whether the regime is available. Meeting the size conditions on their own does not automatically guarantee eligibility, so it is worth checking your specific position before deciding.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, in which case FRS 105 is the framework used for its financial statements. Many qualifying companies do take that route because it is simpler, but others prefer to prepare accounts under a different framework such as FRS 102 for their own commercial or reporting reasons.

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 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. These are the headline size tests, and they sit alongside other eligibility rules and exclusions. Thresholds and rules can change, so eligibility should always be considered against the period you are reporting on.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entity standard, with a shorter balance sheet, very limited disclosure and simplified measurement. FRS 102 is the wider standard used by small and larger entities, and it generally requires more disclosure and allows more sophisticated options such as fair value accounting. Choosing between them is a matter of eligibility, reporting needs and what the company wants from its accounts.

Do FRS 105 Micro Entity Accounts need to be filed with Companies House?

Annual accounts are generally filed at Companies House, and Companies House provides a filing route specifically for micro-entity accounts. This filing is separate from anything submitted to HMRC. The accounts filed are the balance sheet and any required notes, and under FRS 105 the directors may choose not to include the profit and loss account in the filed version, even though a profit and loss account is still prepared for the company's records and for tax purposes.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entity framework, while a CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits. The accounts can inform the tax return, and accounts may also need to be submitted to HMRC in the required format alongside the return, but the two documents serve different purposes and go to different bodies.

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

We would typically need your bookkeeping records or accounting software access for the period, bank statements covering the whole period, details of sales and purchases, payroll or employee information, any asset and liability records, and information on loans, director balances or share capital. If your company has unusual transactions or has changed its activity, let us know. The more complete the records, the more straightforward it is to prepare accurate FRS 105 Micro Entity Accounts.