─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Trowbridge: Clear Reporting for Qualifying Micro-Entities

FRS 105 Micro Entity Accounts in Trowbridge are prepared under the financial reporting framework that applies when a qualifying company chooses the UK micro-entities regime. FRS 105 is a simplified standard, but the decisions around it still matter — confirming whether your company falls within the regime, deciding whether that regime suits your business, and presenting the figures correctly in the financial statements and the version filed at Companies House. Professional preparation helps ensure your accounts are put together appropriately for your company’s circumstances, from the balance sheet and notes through to the supporting records behind them, so you have a clean, consistent set of accounts for the year.

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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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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: How the Micro-Entities Regime Works for Trowbridge Companies

In simple terms, FRS 105 is the UK financial reporting standard written specifically for the micro-entities regime. It sets out how a qualifying company measures and presents its figures when it chooses to apply that regime, and it is deliberately stripped back compared with fuller standards. FRS 105 works on a historical cost basis, keeps disclosure requirements to a minimum and avoids much of the complexity found elsewhere — no fair value adjustments for most items, no deferred tax, and far fewer notes. In practice, that means a short set of financial statements, typically a balance sheet, a profit and loss account and limited notes, rather than a long annual report. Applying the micro-entities regime is a choice available to companies that qualify, and where that choice is made, FRS 105 applies. It is also worth being clear that FRS 105 financial statements are accounts, not a tax return; Corporation Tax is handled separately with HMRC.

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

FRS 105 is intended for companies that qualify as micro-entities under UK company law and then choose to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company will generally need to meet at least two of three 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 assessed using the company’s figures for the period, and the rules include provisions for periods that are not a full year. Meeting the size thresholds is not the whole picture, though — other eligibility rules and exclusions can apply, and factors such as being part of a group can affect the position. Qualifying is therefore a question of both the numbers and the detailed rules, and where a company does qualify, applying the regime remains a choice. We can review your circumstances for a company in Trowbridge or elsewhere in the UK and explain where you stand before any accounts are prepared.

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 in Trowbridge

FRS 105 Micro Entity Accounts are built from your company’s financial records — bank transactions, sales and purchase invoices, payroll information, asset purchases, loans and any other supporting documents — and are set out in line with the reporting requirements that apply to your company. The work covers preparing the financial statements themselves and the accounts filing with Companies House, which is a separate exercise from your Corporation Tax position. Where a CT600 is needed, that return is submitted to HMRC and deals with taxable profits under tax rules rather than accounting rules, so the two figures can differ. We prepare accounts based on the information you provide and the framework that applies to your circumstances; we do not claim that accounts are automatically accepted or that filing outcomes are guaranteed, and the company remains responsible for the accuracy and completeness of its records.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Trowbridge

If you run a company in or around Trowbridge and you think the micro-entities regime may suit you, the next step is a straightforward conversation. Tell us about your company, your accounting period and how your records are kept, and we can look at whether FRS 105 Micro Entity Accounts are likely to be appropriate and what information we would need from you. Whether you are preparing micro-entity accounts for the first time, considering a change of reporting framework, or simply want the figures reviewed before you file, get in touch and we will explain the options clearly and without jargon.

─── 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 company should measure and present its figures, and it is a simplified framework: measurement is based on historical cost, deferred tax and most fair value adjustments are not used, and the disclosure requirements are much shorter than under fuller standards. The result is usually a concise set of financial statements, typically a balance sheet, a profit and loss account and limited notes.

Is FRS 105 compulsory for every micro-entity?

No. Companies that qualify as micro-entities can choose to apply the micro-entities regime, and if they do, FRS 105 must be used for those accounts. Qualifying companies that prefer a fuller framework can instead prepare accounts under FRS 102 or another applicable standard, provided the law does not require something specific. So the regime is an option rather than an automatic outcome, but once it is chosen, FRS 105 applies to the accounts prepared under it.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, a company will generally need to meet at least two of three 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. The rules also include provisions for periods that are not a full year, and other eligibility rules and exclusions can apply on top of the size conditions. Meeting the thresholds does not by itself guarantee that a company qualifies for the regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the fuller UK standard, and its small-entity provisions apply to many small companies that do not use the micro-entities regime. FRS 105, by contrast, is only for companies applying the micro-entities regime, and it is far more limited: historical cost measurement, no deferred tax, fewer accounting policy choices and much shorter disclosures. The practical trade-off is simplicity versus flexibility, and the framework you choose can affect how items such as revaluations, financial instruments and provisions are treated.

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

Yes. A company's annual accounts must be filed at Companies House each year, and for a company using the micro-entities regime those accounts are prepared under FRS 105. The full financial statements are prepared for the company and its members, while the version filed at Companies House can be a simplified set depending on the options available under company law. Filing accounts is separate from filing a Confirmation Statement, which is a different Companies House requirement.

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

Yes, they are two distinct filings. FRS 105 Micro Entity Accounts are prepared under the accounting framework and filed as annual accounts, whereas the CT600 is a Corporation Tax Return submitted to HMRC to report taxable profits. They go to different bodies, are governed by different rules and can produce different figures, for example where tax rules treat an item differently from accounting rules. Preparing one does not automatically complete the other.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime. There is no requirement to have a long trading history, but the company still needs to fall within the definition and meet the applicable conditions for the period concerned. Because a first accounting period is often shorter or longer than a full year, and the rules include provisions for periods that are not a full year, it is worth checking the position before preparing the accounts.

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

In most cases we need the company's records for the period: bank statements and transaction listings, sales and purchase invoices, payroll or employee information, details of asset purchases and disposals, stock or work in progress figures, amounts owed to and by the company, loan agreements, VAT returns if the company is registered, and details of share capital and any dividends. Previous accounts, the company's registered details and confirmation of the accounting period are also helpful. The more complete and organised the records, the more straightforward the preparation tends to be.