─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bedlington

FRS 105 Micro Entity Accounts in Bedlington are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the micro-entities regime. FRS 105 is the simplest of the UK accounting standards, and it suits companies whose size and circumstances allow them to report in a streamlined way — but it is not automatic. A company must first qualify as a micro-entity, and then its directors must decide that applying the micro-entities regime is the right choice. Professional preparation helps you work through that decision and ensures the financial statements are put together properly for your company’s own circumstances, including the way your income, assets, liabilities and disclosures are presented. Whether you are filing your first set of accounts or reviewing the framework you have used in previous years, we can help you understand what FRS 105 involves and prepare accounts that reflect your records accurately.

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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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 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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 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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 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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 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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 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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 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. 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 Regime in Plain English

FRS 105 is the UK accounting standard that sits behind the micro-entities regime. In simple terms, it is a stripped-back set of rules for the smallest companies, letting them prepare financial statements without many of the more complex adjustments, revaluations and disclosures required under fuller standards such as FRS 102. When a qualifying company chooses to apply the micro-entities regime, FRS 105 is the framework it uses to produce its annual accounts. Those accounts still include the core statements — a balance sheet, a profit and loss account and notes — but the emphasis is on simplicity and on reporting figures in a way that is straightforward to follow. It is important to understand that FRS 105 is a choice available to companies that qualify, not something that is imposed on every small business, and it is not the same thing as a Corporation Tax Return. If you run a small limited company in or around Bedlington and you are weighing up whether the micro-entities regime fits your business, an explanation of how FRS 105 Micro Entity Accounts work in practice is a sensible first step.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify under the UK micro-entities regime and then decide 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. Meeting those size conditions is an important part of the picture, but it is not the whole test. Other eligibility rules and exclusions can apply, and some types of entity are not permitted to use the micro-entities regime at all, regardless of how small they are. It is also worth remembering that qualification and choice are two separate things — a company that qualifies may still decide that a fuller standard better suits its circumstances. For businesses in Bedlington considering FRS 105 Micro Entity Accounts, the sensible approach is to check the company’s position against the current rules for the specific period concerned before deciding how to report.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your bookkeeping and financial records. We work from the information you provide — bank transactions, sales and purchase records, expense details, asset purchases and any loans or director balances — and build a set of financial statements that reflects them in line with the reporting requirements that apply to your company. That means the balance sheet, profit and loss account and supporting notes are prepared consistently, with the figures agreed back to your records wherever possible. It is worth being clear about how the different obligations fit together: the preparation of the financial statements and the filing of those accounts with Companies House are one part of your company’s responsibilities, while a Corporation Tax Return (CT600) submitted to HMRC is a separate filing with its own rules and deadlines. We can help with the accounting side and explain how it interacts with your wider obligations, so you know what is being filed, where and why. Our role is to apply the framework accurately to your circumstances — no more and no less.

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Get Help With Your FRS 105 Micro Entity Accounts in Bedlington

If you would like straightforward help with FRS 105 Micro Entity Accounts, get in touch and tell us about your company. It helps to know your accounting period dates, what your business does, how your records are kept, whether you have filed micro-entity accounts before, and whether anything has changed over the year — such as a new loan, a significant asset purchase or a shift in turnover. With that information we can assess your circumstances, explain whether the micro-entities regime looks suitable for you, and let you know what is involved in preparing your accounts. If you are unsure where to start, simply describe your situation and we will guide you through the next steps.

─── 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 the micro-entities regime. It is the most streamlined of the UK accounting standards, allowing qualifying companies that choose the regime to prepare simpler financial statements with fewer adjustments and disclosures than fuller standards require. It covers the usual core output — a balance sheet, a profit and loss account and notes — and is designed to reduce the reporting burden on the smallest companies.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and then choose to apply the micro-entities regime. Qualification depends on the size conditions and on certain exclusions, so it is not simply a case of being a small company. A company also needs to be one that is permitted to use the regime — some entities, such as certain financial or investment undertakings, are excluded. Meeting the size tests alone does not guarantee eligibility.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not mean you must use it. It is an available accounting regime, and FRS 105 applies when that regime is chosen. A qualifying company could instead report under a fuller standard such as FRS 102, which may be appropriate if the directors want more detailed reporting, if the company needs to present a more comprehensive picture for lenders or investors, or if the company's circumstances point that way.

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. These are size conditions rather than a complete eligibility test — other rules and exclusions apply, and a company must also be one that is permitted to use the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they differ in complexity. FRS 105 is built specifically for the micro-entities regime and keeps reporting simple, with limited note disclosures. FRS 102 is the standard for larger or non-micro entities and involves more detailed recognition, measurement and disclosure requirements, including areas such as fair value adjustments and deferred tax. Choosing between them depends on whether your company qualifies for the micro-entities regime and what the directors want the accounts to show.

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

Where a company prepares its annual accounts under FRS 105, those financial statements normally form the accounts that the company files at Companies House. The accounts must be prepared and filed in line with the applicable filing requirements and deadlines for the company. This filing is separate from Corporation Tax: filing accounts at Companies House and submitting a Corporation Tax Return to HMRC are distinct obligations, even though both draw on the same underlying figures.

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

Yes. FRS 105 deals with the accounting and financial reporting framework used to prepare the company's financial statements. A CT600 is a separate Corporation Tax filing submitted to HMRC, governed by tax rules rather than accounting standards. The figures in your accounts will usually inform the tax return, which is why it helps to prepare them together, but they are two different documents with two different purposes and two different recipients.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first accounting period if it qualifies as a micro-entity and the directors choose the micro-entities regime. However, a first period is not always straightforward — it can be longer or shorter than twelve months, and there may be pre-trading costs or initial transactions to account for. It is worth checking the position for your specific company rather than assuming the regime applies.

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

In practice we need your accounting records for the period: sales and purchase information, bank and cash records, expense receipts, details of any assets bought or sold, loan balances, director's loan movements, and your previous year's accounts if you have them. Share capital details and the company's registered information are also useful. The cleaner and more complete your records, the more straightforward the preparation process tends to be.