─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ashington

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for the UK micro-entities regime and choose to apply it. In Ashington, many small limited companies look to this framework because it is designed to keep the financial statements straightforward, with a simplified format and fewer disclosure requirements than larger reporting standards. Professional preparation can help ensure your accounts are put together appropriately for your company’s own circumstances — its trading activity, its assets and liabilities, and the framework it has chosen — rather than being forced into an approach that does not fit. It is worth being clear that FRS 105 is not automatic: a company must first qualify as a micro-entity under the applicable rules and then decide to use the micro-entities regime. Good preparation starts with checking that position properly, understanding what the accounts need to show, and making sure the figures reported reflect the underlying financial records. If you are unsure whether FRS 105 Micro Entity Accounts are the right fit for your Ashington company, a short conversation about your position is usually the quickest way to find out.

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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 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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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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 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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 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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework

Put simply, FRS 105 is the UK financial reporting standard written for micro-entities. It sits alongside the micro-entities regime, which is an accounting regime that qualifying companies may choose to adopt. Where a company qualifies and decides to use that regime, FRS 105 applies — and it is that standard which sets out how the financial statements should be prepared. Because it is deliberately simplified, FRS 105 accounts tend to be shorter and more direct than accounts prepared under wider standards. The balance sheet and profit and loss account follow a prescribed, pared-back format, the figures are generally prepared on a historical cost basis, and the notes to the accounts are limited. For a small owner-managed business in Ashington, that can mean less time spent on disclosure and more focus on the numbers that actually matter to the business. The trade-off is that FRS 105 offers less flexibility than other frameworks, so it is not automatically the best answer for every company. The important point is that the micro-entities regime is a choice available to qualifying companies, not a default that everyone falls into, and FRS 105 is the standard that comes with that choice.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it — qualification and choice are two separate steps, and both matter. On the size side, 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 are a useful starting point, but they are not the whole picture. Other eligibility rules and exclusions can apply, and certain entities are not able to use the regime regardless of their size. Meeting the thresholds alone therefore does not guarantee that a company qualifies, and even where it does qualify, using the micro-entities regime remains a decision rather than an obligation. For an Ashington company, the sensible approach is to review the period in question properly — the figures, the type of entity, and any relevant restrictions — before committing to FRS 105 Micro Entity Accounts, and then to keep that position under review as the business grows and its numbers change.

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 Ashington

Preparing FRS 105 Micro Entity Accounts is about translating your day-to-day financial records into a set of financial statements that follow the requirements of the standard. That means taking your bookkeeping, bank records, sales and purchase information, asset and liability details and any relevant supporting documents, and shaping them into a balance sheet, profit and loss account and the limited notes that FRS 105 requires for a micro-entity. It also means being consistent about the framework you are applying, and being clear about what the accounts do and do not include. It is helpful to separate two things that are often bundled together in conversation. The first is the preparation of the financial statements themselves and, for a limited company, the delivery of statutory accounts to Companies House in line with the applicable filing requirements. The second is Corporation Tax, where a CT600 is submitted separately to HMRC and is not the same thing as the accounts. Keeping those obligations distinct helps avoid confusion about what has been filed, with whom, and on what basis. Accounts are prepared from the information you provide and in line with the reporting requirements that apply to your company; the accuracy of the outcome depends on the completeness and quality of those records.

ICAEW

ACCA

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Talk to Us About Your FRS 105 Micro Entity Accounts in Ashington

If you would like help with FRS 105 Micro Entity Accounts for your Ashington company, the best starting point is a straightforward conversation about your circumstances. Tell us about your business, your accounting period, roughly what your turnover, balance sheet position and employee numbers look like, and whether you are already using the micro-entities regime or considering it for the first time. From there we can look at whether FRS 105 appears to be an appropriate framework for your company, explain what the accounts will need to include, and set out what information we would need from you to prepare them. We can also talk through how the accounts fit alongside your other obligations, such as filing statutory accounts at Companies House and dealing with Corporation Tax separately through a CT600. Get in touch to discuss your requirements and to find out what the next practical step looks like for your company.

─── 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 for micro-entities. It sets out how the financial statements should be prepared when a qualifying company chooses to apply the micro-entities regime. It is a deliberately simplified framework: the balance sheet and profit and loss account follow a prescribed, pared-back format, the accounts are generally prepared on a historical cost basis, and the required notes are limited. It is not the same thing as a Corporation Tax Return (CT600), which is a separate filing made to HMRC.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities under the UK rules and that choose 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 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not automatically mean a company qualifies or should use the regime.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies rather than a mandatory one. A company that meets the criteria may choose to apply it, but it may also prepare its accounts under another applicable framework. FRS 105 applies when the micro-entities regime is the framework chosen. Once it has been adopted for a set of accounts, the requirements of the standard govern how those financial statements are prepared.

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 more restricted, generally uses historical cost, prescribes a simplified format and requires limited disclosures. FRS 102 is a broader standard, and the small entities version of it allows more accounting options — for example, certain assets may be revalued — while requiring more disclosure. FRS 105 is generally only available to companies that qualify for the micro-entities regime, so eligibility is the first question to settle.

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

FRS 105 deals with how the financial statements are prepared, and a limited company's statutory accounts then need to be delivered to Companies House in line with the filing requirements that apply to it. Micro-entity accounts can be filed in the simplified format permitted for micro-entities. The practical arrangements — what is delivered, how, and by when — depend on your company's circumstances, so it is worth confirming the position for your specific accounting period rather than assuming a single approach fits everyone.

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

Yes, they are separate. FRS 105 relates to the accounting and financial reporting framework used to prepare the company's financial statements. A CT600 is a Corporation Tax filing submitted to HMRC, and it is usually supported by tax computations that start from the figures in the accounts but are not the same document. Preparing FRS 105 Micro Entity Accounts and dealing with Corporation Tax are two distinct pieces of work, and they should not be treated as interchangeable.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for an accounting period if it qualifies as a micro-entity for that period and chooses to apply the micro-entities regime. In practice, that means looking at expected turnover, the balance sheet position and average employee numbers, and checking whether any exclusion applies. A new company's first period can be short or unusually shaped, so it is worth reviewing the position before deciding on the framework rather than assuming it will be suitable.

What information is needed to prepare FRS 105 accounts?

Typically you would provide complete bookkeeping records for the period, bank statements and reconciliations, sales and purchase information, payroll details, and records of assets, liabilities, loans and any amounts owed to or by the company. Details of transactions with directors or related parties may also be relevant, along with the previous year's accounts where available. The more complete and consistent your records, the more straightforward the preparation tends to be, and the easier it is to confirm the figures reflect what actually happened in the business.