─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Newcastle

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and it is designed to keep statutory accounts straightforward without losing accuracy. If your company is based in Newcastle and you are weighing up whether FRS 105 Micro Entity Accounts are the right fit, professional preparation can help ensure the accounts reflect your actual financial records and are put together appropriately for your company’s circumstances. We look at your bookkeeping, your balance sheet position and the nature of your business, then prepare the financial statements on the FRS 105 basis where that regime applies to you. Eligibility is not automatic — it depends on whether your company qualifies for the micro-entities regime and decides to use it — so we check the position carefully before any work begins.

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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 300 reviews 
    
 
 
 
   
 
 
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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 .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
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   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

What Is FRS 105? The Micro-Entities Regime Explained for Newcastle Companies

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for the micro-entities regime — the smallest companies within the small companies framework. Put simply, it is a simplified set of accounting rules: fewer disclosures, simpler measurement, and a format that suits a company with a straightforward trading position. Qualifying companies are not obliged to use it. The micro-entities regime is one of the accounting regimes available to them, and FRS 105 applies when that regime is chosen. When it is used, the company’s financial statements are prepared on the FRS 105 basis and filed at Companies House, while Corporation Tax is handled separately through a CT600 return to HMRC. For many owner-managed businesses in Newcastle, FRS 105 Micro Entity Accounts keep financial reporting proportionate, transparent and easy to follow.

Who Can Use FRS 105 in the UK? Eligibility for Newcastle Companies

FRS 105 is intended 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 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 conditions is a starting point, not the whole answer. Other eligibility rules and exclusions apply — certain companies are not able to use the micro-entities regime regardless of their size, and the tests are assessed for each accounting period. A qualifying company that grows beyond the thresholds, or that would prefer the fuller disclosure available elsewhere, may need to move to a different framework. For businesses in Newcastle, we check the criteria against your actual figures and circumstances and explain the options before any FRS 105 Micro Entity Accounts are prepared.

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, Professionally Prepared FRS 105 Micro Entity Accounts in Newcastle

FRS 105 Micro Entity Accounts are prepared from your company’s financial records and the reporting requirements that apply to it. We start with your bookkeeping, bank records, invoices, expense records and other supporting documentation, then work through the recognition, measurement and disclosure requirements of FRS 105 to produce financial statements that present your position clearly. Statutory accounts preparation and Companies House filing sit separately from Corporation Tax: the accounts are the financial statements, while the CT600 is a distinct return submitted to HMRC. We explain what each step involves, what we need from you, and how the figures in the accounts feed into the tax computation — without overstating what any filing can achieve. Where judgement is needed, we set out the options and the reasoning so you can make an informed decision.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts in Newcastle, get in touch and tell us a little about your company. It helps to know your accounting period dates, what your bookkeeping looks like, whether you have filed micro-entity accounts before, and what has changed in the business over the year. From there we can assess your circumstances, explain whether the micro-entities regime looks suitable for you, and set out how we would prepare and file your accounts. You can expect clear, transparent pricing and a straightforward process — practical support from accountants who work with micro-entity companies and can talk you through the framework in plain English.

─── 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 that qualify for, and choose to apply, the micro-entities regime. It sits within the UK GAAP framework and is deliberately simpler than FRS 102, with reduced disclosure requirements and simplified measurement rules. If your company applies it, your statutory financial statements are prepared on the FRS 105 basis rather than under the small companies regime.

Who can use FRS 105 in the UK?

FRS 105 is available to companies that fall within 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 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 apply, so meeting the size conditions alone does not automatically mean a company qualifies — and even where it does, applying FRS 105 remains a choice.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A qualifying company can generally choose between the micro-entities regime (FRS 105) and the small companies regime (FRS 102 Section 1A). The better option depends on your circumstances — some companies prefer FRS 102 because it allows options such as revaluation or fair value accounting, or because a lender or investor expects fuller disclosure.

What is the difference between FRS 105 and FRS 102?

FRS 102 is used by a wider range of entities, including larger small companies, and carries fuller disclosure requirements and more measurement options, such as fair value accounting, revaluation of assets and recognition of deferred tax. FRS 105 builds on simplified recognition and measurement, removes or restricts several of those options, and requires far less disclosure. In practice, FRS 105 accounts are shorter and more streamlined, while FRS 102 accounts give a fuller picture. The framework chosen can affect how items such as investment property are presented.

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

Yes. A company that prepares micro-entity accounts still has to file accounts at Companies House for its financial year. Micro-entity accounts are normally filed with the balance sheet, notes and the required statements, and micro-entities have historically been able to file without a profit and loss account. Filing requirements are changing, so it is worth checking the position for your particular accounting period. The deadline can differ for a first set of accounts and depends on the length of the accounting period.

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

Yes, they are two different documents with two different purposes. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, and it has its own deadline. The two are connected — the accounts figures inform the tax computation — but preparing and filing one does not file the other, so both need to be dealt with.

What information is needed to prepare FRS 105 accounts?

Typically we need the company details and accounting period dates, your accounting records or a trial balance, bank statements and reconciliations, sales and purchase records, payroll information, details of fixed assets and any loans, plus notes on anything unusual during the year. If you are moving from another accountant, prior year accounts and tax computations help speed things along. We will confirm exactly what is required once we understand your circumstances.

What changes are coming to micro-entity accounts filing?

Companies House filing requirements for small and micro-entity companies are being updated. Under reforms introduced through the Economic Crime and Corporate Transparency Act, companies are generally expected to file more information than in the past — including profit and loss information — for financial years beginning on or after 6 April 2025. The detail and timing are worth confirming against current Companies House guidance for your accounting period. We can explain what the changes mean for your FRS 105 Micro Entity Accounts and help you plan for the extra information that may be needed.