─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chester-le-Street

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and it is the simplest set of statutory accounts available to UK companies. For directors in Chester-le-Street, preparing FRS 105 Micro Entity Accounts is often about getting the essentials right: a straightforward balance sheet, minimal notes, and figures that reflect the company’s actual financial records. Professional preparation helps you work through the judgements that still exist under this framework, such as how assets and liabilities are recognised, what disclosures are required, and whether the micro-entities regime remains the right fit for the company’s circumstances. Eligibility is not automatic and depends on meeting the size conditions and other applicable rules, so it is worth confirming your position before the accounts are prepared. Our role is to take your records and turn them into FRS 105 Micro Entity Accounts that are properly structured, internally consistent, and ready to be considered for filing.

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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: The Framework Behind Micro-Entity Accounts

FRS 105 is the UK financial reporting standard written specifically for micro-entities, and it sits alongside the micro-entities regime that qualifying companies can choose to apply. In simple terms, it is a stripped-back set of accounting rules: the accounts are built around a balance sheet and a small number of notes rather than a full suite of statements, and some of the more complex measurement and disclosure requirements found in larger frameworks simply do not apply. If a qualifying company decides to use the micro-entities regime, FRS 105 is the standard that applies when preparing and filing its annual accounts. That makes it attractive to owner-managed businesses in Chester-le-Street that want statutory accounts without unnecessary complexity, while still producing figures that are accurate and consistent with the underlying records. It is important to remember that the regime is a choice available to companies that qualify, not something every small company is required to adopt, and the rules on who qualifies include conditions and exclusions beyond simple size tests.

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. The size conditions are the starting point: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable conditions, being 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 sit alongside other rules, and a range of exclusions and special cases can apply, so a company that appears to fit the size test may still not qualify, and a company that qualifies may still choose a different framework. Directors in Chester-le-Street should also consider whether the micro-entities regime suits how they want the company’s position presented, since FRS 105 limits some of the treatments available elsewhere. Our approach is to look at the company’s actual circumstances rather than assume eligibility from headline numbers, and then confirm how FRS 105 Micro Entity Accounts would be prepared if the regime is the right fit.

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.

Accurate FRS 105 Micro Entity Accounts, Professionally Prepared

Preparing FRS 105 Micro Entity Accounts properly means starting from reliable financial records and applying the micro-entities reporting requirements consistently. In practice, that involves reviewing your bookkeeping and supporting documents, confirming how income and costs have been treated, checking that the balance sheet reflects the company’s position at the year end, and drafting the accounts in the format the framework expects. Accounts preparation and Companies House filing are one part of the picture; Corporation Tax obligations, including the CT600 Corporation Tax Return submitted to HMRC, are handled separately and follow different rules and timetables. We keep those strands distinct so it is clear what is being prepared, what is being filed, and where responsibility sits. We cannot promise that Companies House or HMRC will accept a filing, or guarantee a particular tax outcome, but we can make sure your FRS 105 Micro Entity Accounts are prepared carefully, based on the information you provide, and with the reporting requirements for your circumstances in mind.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Chester-le-Street

If your company is considering the micro-entities regime, or you simply want your FRS 105 Micro Entity Accounts prepared without the guesswork, we are happy to talk it through. Tell us about your company, your accounting period, and how you currently keep your records, and we can look at whether FRS 105 looks appropriate for your circumstances and what would be needed to prepare the accounts. Bring along your trial balance or bookkeeping records, details of any assets and liabilities, and any previous accounts or filings, and we will take it from there. There is no obligation, and no assumption that the micro-entities regime is automatically the right answer for you — we will give you a clear view before anything is prepared.

─── 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 qualifying companies that choose the micro-entities regime prepare their annual accounts, using a simplified format built around a balance sheet with limited notes rather than a full set of financial statements. Because it is less detailed than standards such as FRS 102, it reduces the disclosure and measurement work involved in producing statutory accounts.

Who can use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the micro-entities regime and decide 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 eligibility rules and exclusions also apply, so meeting the size conditions alone does not automatically mean a company qualifies.

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 can choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies instead prepare accounts under FRS 102, often because of the way they want certain items treated or because of the disclosures they wish to provide, so the decision is worth thinking through rather than defaulting to one option.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the standard used by most small and medium-sized companies, while FRS 105 is the lighter framework for micro-entities that choose the micro-entities regime. FRS 105 involves fewer disclosures and simpler measurement, and some accounting treatments permitted under FRS 102 are not available under FRS 105. FRS 102 also allows certain revaluations and fair value adjustments that FRS 105 does not, so the two can produce different figures from the same records.

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

Where a company prepares statutory accounts under FRS 105, those accounts normally form the basis of the annual accounts filing with Companies House, subject to any filing exemption that applies to the company. Filing requirements have been changing as Companies House phases in reforms, including a move towards filing accounts through commercial software, so it is worth checking the current position before your filing date rather than relying on how things were done previously.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities reporting framework, while the CT600 is the Corporation Tax Return submitted to HMRC. The figures in the accounts usually inform the tax return, but the two are prepared for different purposes, follow different rules, and meet different deadlines, so both need to be dealt with.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but eligibility still has to be assessed against the rules for the micro-entities regime rather than assumed because the company is new or small. Start-up costs and initial trading levels can affect the picture in the first period, and other exclusions may be relevant. It is worth reviewing the position with your accountant before the first set of accounts is prepared.

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

In most cases we would ask for your bookkeeping records or trial balance for the accounting period, bank statements and reconciliations, details of fixed assets and any loans or hire purchase agreements, information on stock, debtors and creditors at the year end, and any previous accounts or filings. Director's loan account movements and details of share capital are also useful. The more complete the records, the more straightforward the preparation tends to be.