─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Bishop Auckland

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to apply the micro-entities regime. For a small company in Bishop Auckland, that decision shapes how the financial statements look: the balance sheet, the notes, the accounting policies and the level of disclosure all follow the FRS 105 requirements rather than those of a fuller framework. Because the micro-entities regime is a choice rather than an automatic entitlement, professional preparation starts with checking whether the company actually qualifies and whether the regime suits its circumstances — for example, where a lender, investor or customer expects a more detailed set of accounts. From there, your records are reviewed, the figures are brought together, and the financial statements are prepared with the disclosures FRS 105 requires. The result is a set of FRS 105 Micro Entity Accounts that reflects the company’s real position, is presented consistently, and gives you something clear to work from when you file and when you make decisions for the year ahead.

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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 Micro-Entities in Bishop Auckland

FRS 105 is the financial reporting standard that sits behind the UK micro-entities regime. In plain terms, it is the rulebook a qualifying company follows when it prepares its annual financial statements under that regime. Compared with fuller frameworks, FRS 105 is a simplified approach: it is built around a balance sheet, a small number of notes and a more straightforward set of accounting policies, with far less disclosure than you would see in accounts prepared under FRS 102. That simplicity is deliberate. The micro-entities regime exists so that genuinely small companies can produce accounts that are proportionate to their size, rather than applying the same reporting burden as much larger businesses. Two points matter here. First, the regime is available rather than compulsory — a company that qualifies can still choose to report under a different framework if that better fits its needs. Second, FRS 105 applies when the micro-entities regime is the chosen route, so eligibility and choice go together. For a Bishop Auckland company weighing this up, the practical questions are whether it meets the size conditions, whether any exclusions apply, and whether simplified reporting gives the people who use its accounts what they need.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it — qualifying is one part of the answer, and choosing the regime is the other. Eligibility is largely driven by size. 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. The word ‘generally’ matters, because the tests are not simply a matter of adding up the figures. Certain companies are excluded from the regime altogether, and there are additional rules — including how the conditions are applied in a company’s first period and when a company moves in or out of the size brackets. Meeting the size thresholds therefore does not guarantee that FRS 105 is available or appropriate, and it certainly does not mean a company must use it. A Bishop Auckland company should have its position checked against the rules for its own accounting period before deciding how to prepare its accounts.

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 for Bishop Auckland Companies

Preparation of FRS 105 Micro Entity Accounts begins with your financial records — the bookkeeping, bank transactions, sales and purchase information, payroll details, asset purchases and any loans or director balances — and then applies the recognition, measurement and disclosure requirements that FRS 105 sets out. That means getting the balance sheet right, making sure the accounting policies recorded are the ones actually used, and keeping the notes proportionate and accurate rather than padded or incomplete. Two separate obligations are often confused here, and it is worth keeping them apart. Preparing and filing the financial statements with Companies House is one task; dealing with Corporation Tax, including the CT600 return submitted to HMRC, is another, even though both draw on the same underlying figures. A Confirmation Statement is separate again. Working with an experienced preparer helps ensure the accounts are built on the company’s own records, presented consistently year on year, and prepared in line with the applicable reporting requirements for the period. What that looks like in practice is reviewed figures, sensible questions where something does not add up, and a set of accounts you can explain with confidence.

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Get Help With Your FRS 105 Micro Entity Accounts in Bishop Auckland

If you are weighing up whether the micro-entities regime is right for your company, or you simply want your FRS 105 Micro Entity Accounts prepared properly and on time, it is worth talking it through. Tell us about your business — what it does, how it is structured, roughly how it has traded over the period, and whether anything unusual has happened during the year, such as a new loan, an asset purchase or a change in ownership. It also helps to know whether anyone outside the company relies on the accounts, such as a bank or an investor, because that can influence which reporting framework makes sense. From there, we can look at your circumstances, explain what FRS 105 involves in your case, and set out clear, transparent pricing along with the records and information needed to get started.

─── 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 companies applying the micro-entities regime. It sets out how a qualifying micro-entity prepares its annual financial statements under that regime, and it is deliberately simpler than fuller frameworks — typically a balance sheet, a limited set of notes and straightforward accounting policies, with substantially reduced disclosure.

Who can use FRS 105?

FRS 105 is designed for companies that qualify for the UK 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. Other rules and exclusions can also affect whether a company is eligible, so meeting the size conditions alone does not automatically mean the regime is available — eligibility should be checked against the company's specific circumstances.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies may still choose to prepare its accounts under a different framework, such as FRS 102 Section 1A. That decision often comes down to who uses the accounts — for example, a lender or investor may prefer a fuller set of disclosures — so it is worth considering the regime in the light of your own reporting needs rather than assuming the smallest option is always the best fit.

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 and differ in how much they require. FRS 105 is the micro-entities framework and is the more streamlined of the two, with a simpler measurement basis and much lighter disclosure. FRS 102 — including Section 1A for smaller entities — allows or requires a broader range of accounting treatments and considerably more disclosure. Moving between them is not just a presentational change, because some figures may be measured differently, so a switch should be planned rather than treated as a quick swap.

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

Where a company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts will normally need to be filed with Companies House, using the filing option appropriate to the company's circumstances. Filing the accounts is a separate exercise from preparing them, and it is separate again from Corporation Tax. Companies House does not approve or endorse a company's accounts or its choice of framework — it receives and registers the filing. If you are unsure what applies in your case, it is worth checking the position for your specific company and period.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and dealt with under company law and the applicable reporting framework. A CT600 is a Corporation Tax return submitted to HMRC, which deals with the company's tax position for the period. The accounts are usually the starting point for the tax return, but the two documents serve different purposes, go to different bodies, and have their own requirements.

Can a new limited company use FRS 105?

A newly incorporated company can apply the micro-entities regime if it meets the applicable eligibility conditions for its accounting period — and, importantly, chooses to apply the regime. In the first period of trading, the size tests are applied in the way the rules provide for that period, which is not always the same as a straightforward comparison with a full year of trading. It is also worth remembering that a first set of accounts raises its own questions, such as how the accounting reference date falls and what the first period actually covers, so taking advice early tends to save time later.

What information is needed to prepare FRS 105 accounts?

In most cases you will need complete bookkeeping records covering the period, bank and credit card statements, details of sales and purchases, payroll and pension information if you employ staff, records of assets bought or sold, and details of any loans, director's loan account balances or other financing. If the company holds stock, work in progress or has amounts owed to it or by it at the period end, those need to be identified too. Ideally, the information should cover the full accounting period and reconcile to the bank, because gaps and unreconciled items are the main cause of delays in preparing accounts.