─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Trafalgar

FRS 105 Micro Entity Accounts in Trafalgar are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to apply the micro-entities regime. The regime is not automatic: a company needs to qualify under the applicable size and eligibility rules, and then decide that FRS 105 is the right framework for its circumstances. Professional preparation of FRS 105 Micro Entity Accounts involves reviewing the company’s bookkeeping and financial records, confirming the basis on which the accounts should be prepared, and presenting the financial statements in a way that reflects the company’s trading activity, assets and liabilities accurately. Working with an experienced preparer can help ensure that the accounts are consistent with the micro-entities regime, that the minimum required disclosures are included, and that the figures tie back to the underlying records. It can also help owners of Trafalgar businesses keep their accounting and Companies House filing obligations clearly separated from their Corporation Tax obligations, so nothing is overlooked.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 the micro-entities regime. In simple terms, it is the rulebook a qualifying company follows when it prepares its annual accounts, and it sits alongside other UK standards such as FRS 102 within the wider framework commonly described as UK GAAP. The micro-entities regime is an available accounting regime rather than a mandatory one, so a company that qualifies can choose to apply it, and FRS 105 applies when that choice is made. Because the micro-entities regime is designed for the smallest companies, FRS 105 keeps things deliberately straightforward: accounts are normally prepared on a historic cost basis, there are fewer accounting policy options to consider, and the disclosure requirements are lighter than under other frameworks. The result is a set of FRS 105 financial statements that reports the company’s financial position and performance in a clear, concise way, which is usually exactly what the owners of a small Trafalgar company want from their annual accounts.

Who Can Use FRS 105 in the UK? Companies That Qualify for the Micro-Entities Regime

FRS 105 can be used by UK companies that qualify for the micro-entities regime and that choose to apply it. Qualification is based on size, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the 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. Those figures give a useful starting point, but they are not the only consideration. Other eligibility rules and exclusions can apply, and certain types of company cannot use the micro-entities regime at all, however small they are. There are also rules about how and when the conditions are assessed, including for newly incorporated companies and for companies whose figures fluctuate from year to year. That is why it is sensible to review your specific situation, rather than assume that being below the thresholds guarantees eligibility. If your Trafalgar company does qualify and the micro-entities regime suits your needs, we can prepare FRS 105 Micro Entity Accounts based on your records.

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.

Accurate, Professionally Prepared FRS 105 Micro Entity Accounts

Well-prepared FRS 105 Micro Entity Accounts start with complete and accurate financial records. When we prepare FRS 105 financial statements, we work from your bookkeeping, bank records, invoices, expense receipts and any other supporting information to build a set of accounts that reflects your company’s transactions for the period. We consider the applicable reporting requirements for the micro-entities regime, including the accounting policies and disclosures that apply to your circumstances, and we explain the figures so you understand what has been reported and why. Two separate obligations are worth keeping in mind. First, the financial statements themselves are prepared under FRS 105 and, where required, filed with Companies House. Second, a Corporation Tax Return (CT600) is a distinct filing submitted to HMRC, supported by computations based on the company’s results. Preparing accounts professionally does not guarantee any particular outcome, approval or acceptance by any body, but it does mean your figures are built on a consistent, documented basis and that your accounting and tax filings are approached as separate exercises.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Trafalgar

If you run a Trafalgar company that may qualify for the micro-entities regime, it is worth talking through your options before your next set of accounts is due. Tell us about your business, the period you need accounts for, and how your records are currently kept, and we can help you assess whether FRS 105 Micro Entity Accounts are appropriate for your circumstances. We are happy to work with whatever format your records are in, from a simple spreadsheet to cloud accounting software, and to explain what information we need to prepare your FRS 105 financial statements and to support your wider filing obligations. You will get clear, transparent pricing and straightforward answers, so you can decide how much support you want and get on with running your business.

─── 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 sets out how a qualifying micro-entity prepares its annual accounts, including the reporting basis and the disclosures required. It is one of the financial reporting standards that make up UK GAAP, alongside standards such as FRS 102, and it is deliberately simpler in approach because it is aimed at the smallest companies. When a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the framework used to produce its financial statements.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities under the applicable rules and that decide to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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 size conditions is not the whole story, because other eligibility rules and exclusions can apply, and some companies are unable to use the regime regardless of their size. Eligibility should always be considered on the specific facts.

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 it, in which case FRS 105 is the framework used for its accounts. Many qualifying companies find the simpler approach helpful, but others prefer to prepare their accounts under a different framework, such as FRS 102. Once a framework has been chosen, it should be applied consistently, and any decision to change should be considered carefully.

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 those 3 conditions, subject to the relevant rules and exclusions. Because eligibility can also be affected by the type of company and by other requirements, it is worth checking your position against your actual figures rather than assuming that falling within the size limits automatically means you qualify.

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-entities standard: it is narrow in scope, generally uses a historic cost basis, offers very few accounting policy choices and requires relatively limited disclosures. FRS 102 is used by a much wider range of companies, including small companies applying the small entities provisions, and it allows more accounting options and includes more extensive disclosure requirements. In practice, FRS 105 accounts tend to be shorter and more streamlined than accounts prepared under FRS 102.

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

Yes, where a company is required to file annual accounts, those accounts must be delivered to Companies House, and a company preparing under the micro-entities regime files accounts prepared on that basis. What is filed can differ from the full accounts prepared for the members, as the regime includes provisions about the form of the filed accounts. Filing obligations, deadlines and any available exemptions depend on your company's circumstances, so it is worth confirming exactly what applies to you before the filing date.

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

Yes, they are separate exercises. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime and, where required, filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits, and it is normally supported by computations and a copy of the accounts. The figures in the accounts usually provide the starting point for the tax computations, but the filings go to different organisations, are made under different rules, and have their own requirements. Preparing one does not remove the need to deal with the other.

What information is needed to prepare FRS 105 accounts?

You will typically need a complete record of the company's income and expenses for the period, together with bank and credit card statements, sales and purchase invoices, receipts, payroll information if you employ staff, details of any assets bought or sold, and records of loans, director's balances and stock or work in progress. If you use cloud accounting software, granting access is often the quickest route. It also helps to know the company's incorporation details, any previous accounts, and whether there have been any significant one-off transactions. The more complete the records, the smoother the preparation process.