─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Tyne And Wear

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, a simplified reporting framework available to companies that meet the qualifying size conditions and choose to apply it. For directors in Tyne And Wear running a small limited company, this can mean shorter, more straightforward accounts with less disclosure than a full set prepared under a larger reporting framework. Professional preparation helps ensure the figures are drawn correctly from your records, presented in line with the framework you have chosen, and supported by the workings behind them. It also helps you consider whether the micro-entities regime is genuinely the right fit for your circumstances, since eligibility depends on more than simply being a small company. Whether you trade in Newcastle, Sunderland, Gateshead or anywhere else across the region, we can review your position and prepare FRS 105 Micro Entity Accounts that reflect what your business has actually done during the period.

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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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   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 in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a qualifying company’s financial statements should be put together when that company chooses to apply the micro-entities regime — a simplified accounting framework created to reduce the reporting burden on the very smallest businesses. Under FRS 105, the accounts are prepared on a basis that is deliberately more straightforward than the framework used by larger companies, with a reduced set of disclosures and simpler measurement requirements. It is important to understand that FRS 105 is not automatic: a company must first qualify for the micro-entities regime, and the directors must then choose to apply it. Where a company does qualify and does choose that regime, FRS 105 is the standard that applies to its annual financial statements. If the regime is not used, a different framework such as FRS 102 will generally be relevant. For directors across Tyne And Wear, the practical benefit is a set of accounts that is easier to read and quicker to produce, while still giving a true picture of the company’s financial position.

Who Can Use FRS 105 in the UK? Qualifying Companies Explained

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. 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 during the period. However, size is only one part of the test. A range of other eligibility rules and exclusions can apply, and certain companies are prevented from using the regime regardless of how small they are. Eligibility can also change from year to year, so a company that used FRS 105 last time is not automatically entitled to use it again. Directors in Tyne And Wear should therefore treat qualification as something to confirm for each accounting period, based on the company’s own circumstances, rather than something to assume.

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.

Carefully Prepared FRS 105 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records — bookkeeping, bank transactions, sales and purchase information, payroll details, asset purchases and any loans or director balances. From there, the figures are brought together into a balance sheet, a profit and loss account and the limited notes that the micro-entities framework requires, with the accounting policies applied consistently and the numbers checked against supporting documentation. This is a distinct exercise from your Corporation Tax position. The FRS 105 financial statements are prepared for the company and its shareholders, and are then filed at Companies House as part of your annual accounts submission. Your Corporation Tax Return (CT600) is a separate filing made to HMRC, and the profit figures used for each can differ because the two are prepared for different purposes under different rules. FRS 105 accounts also sit apart from your Confirmation Statement, which is a separate Companies House filing confirming company details rather than reporting financial performance. Our role is to prepare the accounts accurately on the basis of the information you provide and the reporting requirements that apply to your company, and to explain clearly what has been included and why.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Tyne And Wear

If you are unsure whether your company qualifies for the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, get in touch to talk it through. Tell us a little about your company — what it does, how it is structured, when your accounting period ends, and whether you have prepared accounts before — and share the records you have available, such as bookkeeping reports, bank statements, invoices, payroll information and details of any assets, loans or director transactions. With that information we can assess your circumstances, explain the framework that appears to suit your company, and set out clear, transparent pricing for the work involved. Whether you are newly incorporated in Tyne And Wear or have been trading for years, we are happy to answer your questions before you commit to anything.

─── 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 is a simplified framework, designed for the smallest qualifying companies, which reduces the amount of disclosure required in the annual financial statements and uses more straightforward measurement rules than the standards applied by larger businesses. Where a company qualifies for the micro-entities regime and its directors choose to apply it, FRS 105 governs how the accounts are prepared.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. Qualification is based on size conditions together with a range of other rules and exclusions, so it is not enough to be a small company in general terms. Certain entities, such as those that are part of a group in particular ways or that carry on specific types of regulated activity, may be excluded. Eligibility should be considered for each accounting period, because a company's circumstances can change from one year to the next.

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, but it does not have to. Some directors prefer to use FRS 102 instead, for example where they want to present more detailed information, follow particular accounting treatments, or align with the way a lender, investor or parent company expects to see the figures. The choice should be made deliberately and reviewed as your business grows.

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 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 during the period. Meeting the size conditions is only part of the picture, as other eligibility rules and exclusions can also apply. Because the criteria and their application can be nuanced, it is worth checking your specific position rather than assuming qualification.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the financial reporting standard used by a much wider range of UK companies, including many small companies that use Section 1A of FRS 102. It provides more detailed recognition, measurement and disclosure requirements than FRS 105, and it permits certain accounting treatments and options that FRS 105 does not. FRS 105 is narrower in scope and produces a shorter, simpler set of accounts, but it is only available where the micro-entities regime applies. In practice, the choice between them affects how the accounts look, what is disclosed, and how some balances are measured.

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

Yes. Where a company prepares FRS 105 Micro Entity Accounts for its statutory reporting, those financial statements form part of the annual accounts that the company is required to file at Companies House. The accounts are prepared for the company and its shareholders first, and filed afterwards. Filing accounts at Companies House is a separate obligation from filing a Corporation Tax Return with HMRC, even though both draw on the same underlying records and are usually prepared together.

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

Yes, they are separate. The FRS 105 financial statements are the company's accounts, prepared under the micro-entities reporting framework and filed at Companies House. The CT600 is the Corporation Tax Return submitted to HMRC to report taxable profits and calculate the tax due. Because the two are prepared for different purposes, the profit figure in the accounts is not automatically the same as the taxable profit on the return, and adjustments may be needed to move from one to the other.

What information is needed to prepare FRS 105 accounts?

In most cases you will need complete bookkeeping records for the period, including sales and purchase information, bank and credit card statements, and a reconciliation of the bank balance. It also helps to have payroll and employee details, records of assets bought or sold, details of any loans, hire purchase or lease agreements, and information about director's loan account movements, stock or work in progress, and any amounts owed to or by the company at the period end. If you are newly incorporated in Tyne And Wear, we will also need your incorporation details and the date you began trading.