─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Barnard Castle

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK. It is the standard used when a company both qualifies for the micro-entities regime and chooses to apply it, producing simplified financial statements with reduced disclosure compared with larger-company reporting. If your business is based in or around Barnard Castle and you are weighing up whether FRS 105 Micro Entity Accounts are the right fit, professional preparation helps ensure the accounts reflect your actual trading activity, your accounting records and the reporting requirements that apply to your company. That includes considering whether the regime is available to you at all, how your figures should be measured under FRS 105, and how the resulting financial statements sit alongside your other filing obligations. Eligibility is not automatic, and the answer depends on your company’s size, its accounting period and the rules and exclusions that apply to it — so a proper review of your circumstances comes first.

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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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   Pete Wrist 
 
 
 
 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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   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 .

─── FRS 105 EXPLAINED

FRS 105 Explained: What It Means for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is the simplest set of rules available to a small company when preparing its annual accounts — and it only comes into play when a company both qualifies for the micro-entities regime and decides to use it. Where FRS 105 applies, the financial statements are prepared on a straightforward, largely historical cost basis, with a reduced set of disclosure notes compared with the more detailed standards used by larger companies. Typical FRS 105 Micro Entity Accounts include a balance sheet, a small number of supporting notes, and the accompanying statements and declarations required for the filing. The trade-off is that the format gives you less room to present a more elaborate picture of the business, so it suits companies whose affairs are relatively uncomplicated. For directors in Barnard Castle running a small limited company, understanding whether FRS 105 is available and appropriate is usually the starting point before any accounts are drafted.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is available to companies that qualify for the micro-entities regime and choose to apply it. 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. Those conditions are a useful guide, but they are not the whole picture. Certain companies are excluded from the regime altogether, and there are additional rules around group structures, company type and how the figures are measured across periods. Meeting the size conditions alone, therefore, does not automatically mean a company qualifies or that FRS 105 must be used — qualification and choice are two separate questions. For directors in Barnard Castle, the practical approach is to check your position against the conditions, then consider any exclusions that might apply, before deciding whether FRS 105 Micro Entity Accounts are the right framework for the year.

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 Accounts and Accurate Financial Reporting

FRS 105 Micro Entity Accounts should be built from the company’s underlying bookkeeping and financial records rather than bolted on at the end of the year. In practice that means reconciling bank transactions, confirming the figures held in your ledgers, reviewing what is owed to and by the company, and then presenting the results in the format FRS 105 requires. Preparing the financial statements and filing them with Companies House is one piece of work; dealing with Corporation Tax is a separate exercise, normally via a CT600 submitted to HMRC, and the two should not be confused even though both draw on the same records. A Confirmation Statement is a further, separate filing. Working with an experienced preparer helps you keep those threads distinct, ensures the notes and disclosures match your circumstances, and gives you accounts that are consistent with the information being reported elsewhere. We cannot guarantee any particular filing outcome, but we can make sure the accounts are approached methodically and based on the records you provide.

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Get Help with Your FRS 105 Micro Entity Accounts in Barnard Castle

If you would like to talk through your FRS 105 Micro Entity Accounts, get in touch and tell us a little about your company. It helps to have to hand your accounting period dates, your latest trial balance or bookkeeping records, details of any assets, loans or amounts owed to and by the company, and any previous accounts or filings. From there we can look at whether the micro-entities regime is available to you, whether FRS 105 is the right framework for your circumstances, and what needs to happen next. Whether you are preparing accounts for the first time, changing standard, or simply want a second pair of eyes on the figures, a short conversation is usually enough to establish where you stand and what information is needed.

─── 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. It sets out how the annual accounts of a qualifying micro-entity should be prepared when that company chooses to apply the micro-entities regime. It is the least demanding of the UK accounting frameworks, using a largely historical cost approach and requiring fewer notes and disclosures than the standards used by larger companies.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Qualifying is not the same as being required to use it — a company that qualifies may still choose a different framework. Eligibility depends on the company's size for the relevant accounting period, along with any rules and exclusions that apply to it, so it is always worth confirming your position before the accounts are prepared.

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 for it can choose whether or not to apply it, and FRS 105 is the standard used when that choice is made. Some directors prefer a more detailed framework even where the micro-entities regime is open to them, often because of how the business is structured or who relies on the accounts.

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. These are size conditions only. Other rules and exclusions can affect whether a company actually qualifies, and meeting the thresholds does not automatically guarantee eligibility, particularly for certain types of company or group structures.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the standard used by a much wider range of UK companies, including small companies that do not use the micro-entities regime. It offers more accounting options and requires more disclosure than FRS 105. FRS 105 is deliberately tighter and simpler, with a historical cost basis and minimal notes, which makes it quicker to prepare but leaves less flexibility over how the figures are presented.

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 accounts are filed at Companies House in the usual way, following the micro-entity format and content requirements. Filing the accounts is a separate task from preparing and submitting a Corporation Tax Return to HMRC, even though both are built from the same underlying financial records.

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

It is. FRS 105 concerns the accounting framework used to prepare and file the company's financial statements. A CT600 is a Corporation Tax return submitted to HMRC, calculated using tax rules rather than accounting rules, which is why the tax liability in the return and the profit shown in the accounts can differ. Your FRS 105 Micro Entity Accounts often provide the starting point for the tax computation, but they are not the tax return itself.

What information is needed to prepare FRS 105 accounts?

Generally you would provide the company's accounting period dates, bookkeeping records or a trial balance for that period, bank statements, details of debtors and creditors, information on fixed assets and any loans or director's balances, plus the previous year's accounts for comparison. Having complete and reconciled records is the single biggest factor in preparing accounts smoothly, so it is worth tidying up your bookkeeping before the accounts work begins.