─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in South Shields: Simplified Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts in South Shields are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. FRS 105 is the standard that applies when that regime is selected, and it produces a simpler, more concise set of financial statements than the larger reporting frameworks. Whether you are a sole-director contractor, a small family company, or a growing limited company trading locally, the sensible starting point is an honest review of your circumstances against the current eligibility conditions — meeting them is not automatic, and other rules and exclusions can affect whether the regime is actually available to you. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect the company’s real financial records, follow the disclosure and measurement requirements of the framework, and are produced in a form that supports both your understanding of the business and your statutory filing obligations. We work with South Shields companies to take the guesswork out of micro-entity reporting, so you know what is being filed, why it looks the way it does, and what it means for your business.

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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 and What It Means for Your Accounts

FRS 105 is the UK financial reporting standard for micro-entities — the smallest companies that qualify for the micro-entities regime under company law. In plain terms, it is the rulebook that sets out what a qualifying micro-entity’s financial statements must contain and how the figures are measured. Where a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the framework used to prepare its accounts. The standard is deliberately streamlined: it permits a shorter balance sheet and profit and loss account, requires far fewer notes than FRS 102, and applies simplified measurement rules, which is why it appeals to owner-managed businesses that want clear, uncomplicated reporting. Crucially, FRS 105 is not something a company is automatically placed into — the micro-entities regime is an available accounting regime for qualifying companies, and FRS 105 applies when that regime is the one chosen. Choosing it has real consequences for how the accounts are presented and what is disclosed, so the decision deserves proper thought. For directors in South Shields, the practical appeal is straightforward: a shorter, more readable set of financial statements that still does its job properly — provided it is prepared correctly and genuinely reflects the company’s position.

Who Can Use FRS 105 in the UK? Eligibility and the Micro-Entities Regime for South Shields Companies

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. Qualification is not simply a matter of being a small company — it depends on meeting the applicable size conditions and on the company not being excluded from the regime for other reasons, such as its legal form or the nature of its activities. 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 two of those tests is the starting point rather than the whole answer. Other eligibility rules, exclusions and transitional considerations can apply, and eligibility can change as a business grows, restructures or takes on investment. If you run a company in South Shields and want to know whether FRS 105 Micro Entity Accounts are likely to be the right framework for your next set of accounts, we can review your position against the regime as it stands and explain your options clearly.

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 Built on Accurate Financial Reporting in South Shields

FRS 105 Micro Entity Accounts should always be built from accurate, well-kept financial records. We start with the information your business already produces — bookkeeping, bank records, sales and purchase documentation, payroll data, expense records and previous filings — and use it to prepare financial statements that are consistent with FRS 105 and appropriate to your company’s circumstances. Micro-entity reporting involves judgement around eligibility, measurement and disclosure, and those judgements should be made deliberately and explained clearly rather than guessed at. We also keep the different obligations firmly separated, because they are genuinely different things: preparing FRS 105 financial statements is a reporting exercise based on your records; filing those accounts with Companies House is a statutory obligation in its own right; a Corporation Tax Return (CT600) is a separate submission made to HMRC and follows tax rules rather than the accounting framework; and a Confirmation Statement deals with the company’s registered details. Our role is to prepare your accounts carefully, explain the basis on which they have been produced, and help you understand what is being submitted and to whom. No adviser can guarantee a particular outcome, but the work can be done properly, transparently and in line with the framework as it applies to you.

ICAEW

ACCA

AAT

Get Expert Help With Your FRS 105 Micro Entity Accounts in South Shields

If your company may qualify for the micro-entities regime — or you are already using it and want reassurance that your FRS 105 Micro Entity Accounts are being prepared properly — get in touch with us. Tell us a little about your business: what it does, your accounting period dates, your approximate turnover, balance sheet total and average employee numbers, plus the records you currently hold. From there we can review your circumstances, explain whether the micro-entities regime appears to apply to you, and set out clearly what is involved and what your options are. There is no obligation and no jargon — just a straightforward conversation about your FRS 105 Micro Entity Accounts and the separate filings that sit alongside them, including your accounts filing at Companies House and your Corporation Tax Return. Reach out to our South Shields team and let’s 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 that applies to micro-entities — the smallest companies that qualify for the micro-entities regime under company law. It sets out what those financial statements must include and how the figures are measured, and it is intentionally simpler than FRS 102. It allows a short balance sheet and profit and loss account with far fewer notes and simpler measurement rules, which keeps preparation and presentation more straightforward for owner-managed companies.

Who can use FRS 105?

FRS 105 can be used by companies that both qualify for the micro-entities regime and choose to apply it. Qualification depends on the applicable size conditions plus other eligibility rules — for example, certain types of company are excluded from the regime regardless of how small they are. It is not a yes-or-no answer based on turnover alone, so the sensible approach is to check your specific circumstances, including your company's legal form, structure and history, before deciding.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not oblige you to use FRS 105. A company that qualifies may instead prepare its accounts under FRS 102 Section 1A, which sits within the small companies regime, and some companies prefer that route because it offers different measurement and disclosure options. The key point is that the micro-entities regime is an available accounting regime for qualifying companies, and FRS 105 applies when that regime is the one chosen.

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 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 size conditions is the starting point, not the whole answer — other rules and exclusions can apply depending on the company's type, structure and circumstances, so eligibility should always be considered in the round for the period in question.

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: it uses simplified measurement rules and requires much less disclosure, so the accounts are shorter and more streamlined. FRS 102, typically Section 1A for small companies, permits more accounting options and requires more notes. In short, FRS 105 gives you the simplest route for a qualifying micro-entity, while FRS 102 provides a fuller picture with more disclosure.

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

Yes. Preparing accounts under FRS 105 does not remove the need to file them. A company applying the micro-entities regime still has statutory filing obligations, and its accounts need to be delivered to Companies House in line with the filing requirements that apply to it, as well as being provided to the members and used as the basis for tax reporting. Filing the accounts is a separate step from preparing them, and it is also separate from Corporation Tax. The filing requirements for small and micro-entity accounts have been changing, so it is worth confirming what applies to your particular filing.

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

Yes, they are distinct things. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and filed at Companies House. A Corporation Tax Return (CT600) is a tax filing submitted to HMRC; it draws on figures from the accounts but follows tax rules rather than the accounting framework, so adjustments are common. A Confirmation Statement is separate again and deals with the company's registered details. Because the accounts and the CT600 need to be consistent, they are usually prepared alongside each other, but they remain separate obligations to separate bodies.

Can a new limited company use FRS 105?

Possibly, but the first accounting period needs care. A newly incorporated company has no trading history, so eligibility is generally assessed on the current period's figures — and other exclusions may still apply depending on the company's type and activities. New companies sometimes have a longer first accounting period, which can affect how the size conditions are considered. It is worth reviewing the position before the first set of accounts is prepared rather than assuming the regime applies.