─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Prudhoe

If you run a small limited company in Prudhoe, FRS 105 Micro Entity Accounts may be the simplest and most cost-effective way to meet your annual financial reporting obligations. FRS 105 is the financial reporting standard that applies to qualifying micro-entities that choose to apply the UK micro-entities regime, and it focuses on the information that matters most to a genuinely small business: a concise balance sheet, limited disclosure notes and a set of financial statements that are straightforward to read and understand. Professional preparation of FRS 105 Micro Entity Accounts helps ensure your figures are pulled together properly from your records, presented consistently with the applicable reporting requirements, and aligned with your company’s individual circumstances rather than a generic template. Eligibility is not automatic, so we take the time to look at your turnover, balance sheet total and employee numbers, along with any other relevant rules or exclusions, before confirming whether the micro-entities regime is available to you. From there, we can prepare your accounts on a clear, transparent basis and talk you through what needs to be filed with Companies House and how your accounts fit alongside your separate Corporation Tax responsibilities.

🔥 SAVE £100.00

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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   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.
  
 
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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 Made Simple

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that tells a very small company how to draw up its annual financial statements when it chooses to use the micro-entities regime. Because FRS 105 is deliberately stripped back, it allows for a shorter balance sheet and far fewer disclosure notes than the fuller standards used by larger companies, which makes the finished accounts easier to prepare and easier for a reader — such as a bank manager, a lender or a shareholder — to follow. The important point is that FRS 105 is not something every small company must use. It is an available accounting regime, and once a qualifying company decides the micro-entities regime is right for it, FRS 105 becomes the framework that applies. For a company in Prudhoe, that decision usually comes down to size, simplicity and what the owners or directors actually need from the accounts. If you need more detailed disclosures, a different framework may suit you better. Our role is to explain the practical difference in everyday language, help you decide whether FRS 105 Micro Entity Accounts are the right fit, and then prepare them accurately if they are.

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

FRS 105 is designed for UK companies that qualify for the micro-entities regime and then choose to apply it. Qualification is mainly a question of size. 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. It is important to be precise here, because satisfying the size tests does not on its own guarantee that the regime is available. Certain other rules and exclusions can apply depending on the type of company, its activities and its structure, and some entities are outside the regime regardless of how small they are. On top of that, a company that does qualify still has a choice to make: the micro-entities regime is an available accounting regime, not a compulsory one, and FRS 105 applies only when that regime is selected. For directors of small companies in Prudhoe, the sensible approach is to review the size conditions alongside any relevant exclusions before deciding, and to consider whether the limited disclosures that come with FRS 105 Micro Entity Accounts give readers of your accounts everything they need.

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 about more than dropping numbers into a template. It starts with your underlying financial records — bookkeeping, bank statements, sales and purchase information, payroll details and any asset or liability balances — and turns them into financial statements that are consistent with the requirements of FRS 105 and with the way your company actually trades. We work through your figures carefully, consider how transactions should be treated under the micro-entities regime, and prepare a balance sheet and supporting notes that reflect your company’s position for the period. Just as importantly, we keep the different filing strands separate so nothing gets muddled. Your FRS 105 accounts are the financial statements prepared for the company and its shareholders, and they are typically filed at Companies House as part of your annual accounts submission. That is a distinct exercise from your Corporation Tax obligations, which are dealt with through a separate Corporation Tax Return, commonly referred to as a CT600, submitted to HMRC. A Confirmation Statement is a further, separate filing. If you would like help preparing micro-entity accounts for your Prudhoe-based company, we can work from your records and explain each step as we go.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Prudhoe

If you are a director or owner of a small company in Prudhoe and you would like to know whether FRS 105 Micro Entity Accounts are right for you, the best next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, and roughly how your turnover, balance sheet total and employee numbers sit for the period in question — and share any records or bookkeeping you already have. We can then assess your circumstances against the micro-entities regime criteria, explain the options open to you in plain English, and set out how we would approach the preparation of your FRS 105 financial statements, including how they fit alongside your separate Companies House and Corporation Tax responsibilities. There is no obligation and no pressure; simply a clear discussion about your requirements and a sensible plan for getting your accounts prepared on a sound footing.

─── 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 qualifying micro-entities which choose to use the micro-entities regime. It sets out how the annual financial statements should be prepared for those companies, allowing a simplified balance sheet and far fewer disclosure notes than the larger reporting frameworks. It is written specifically for very small companies, so it keeps reporting proportionate to the size and complexity of the business.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualifying is about size, but it also depends on the type of company and the rules and exclusions that apply to it. Some companies are excluded from the regime altogether regardless of how small they are. This is why it is worth checking your specific position rather than assuming that being a small company means FRS 105 is automatically available to you.

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 for it can generally choose whether to apply it, and FRS 105 applies once that choice is made. Many qualifying companies do opt for FRS 105 Micro Entity Accounts because they are simpler and shorter, but if more detailed reporting is useful — for example because a lender or investor wants fuller disclosures — a different framework may be more appropriate.

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 the following 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 tests is not the whole story, though. Other eligibility rules and exclusions can apply depending on the type of company and its activities, so the thresholds alone do not guarantee that a company qualifies for the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard and is deliberately pared back, with a simplified balance sheet and minimal disclosure requirements. FRS 102 is the fuller standard used by larger small companies and others, and it requires more detailed accounting treatments and far more notes. Choosing between them is essentially a question of which regime your company qualifies for and how much disclosure is appropriate for its circumstances.

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

Where a company prepares accounts under FRS 105, those financial statements normally form the basis of the annual accounts it files at Companies House as a micro-entity. The filing itself is a separate administrative step from the preparation of the accounts, and it is worth keeping the two clearly in mind. We can help with the preparation of the FRS 105 Micro Entity Accounts and explain what the Companies House filing involves for your company.

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

Yes, they are separate requirements. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and generally filed at Companies House. A Corporation Tax Return, usually referred to as a CT600, is a tax filing submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in your accounts often inform the tax return, but preparing and filing one does not replace the other, and a Confirmation Statement is a further separate filing again.

Can a new limited company use FRS 105?

It is possible for a newly incorporated company to prepare micro-entity accounts, provided it qualifies for the micro-entities regime and chooses to apply it. A first set of accounts may cover a longer or shorter period than a full year, which can affect how the size conditions are assessed, and a brand new company may not yet have a full trading history to measure against. Because of that, new companies are worth looking at individually rather than assuming the answer either way.

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

In practice we need a clear picture of your company's financial activity for the period. That usually means your bookkeeping or accounting records, bank statements, sales and purchase information, payroll and employee details, any loans or director balances, and details of assets and liabilities held at the period end. If you already have draft figures or prior-year accounts, those help too. Once we can see how the company has traded, we can prepare the FRS 105 financial statements and talk you through anything that needs clarifying.