─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in North Shields

FRS 105 Micro Entity Accounts in North Shields are prepared under the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime. FRS 105 is the standard that applies when that regime is used, and it allows a simpler format with reduced disclosure compared with larger frameworks. Professional preparation helps make sure the accounts are built up properly from the company’s financial records, reflect the framework chosen, and are consistent with the way the business actually trades. Eligibility is not automatic and depends on the company’s size and circumstances, as well as the relevant rules and exclusions, so it is worth confirming your position before the accounts are prepared. For directors in North Shields, having the framework reviewed early makes the year-end smoother and keeps the figures coherent.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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

FRS 105 Explained: The Micro-Entities Regime in Simple Terms

FRS 105 Explained comes down to one key point: it is the UK financial reporting standard written specifically for micro-entities. In the UK, the micro-entities regime is an available accounting regime — it is not something every small company has to use. A company that qualifies for the regime can choose to apply it, and when it does, FRS 105 is the standard used to prepare its financial statements. Practically, FRS 105 keeps things straightforward. It limits the accounting options available, so assets are generally held at cost rather than revalued or measured at fair value, and deferred tax is not recognised. It also requires far fewer disclosure notes than other standards, which means shorter accounts that are easier for directors and shareholders to read. That simplicity does not remove the need for accuracy — the figures still have to match the underlying records, and the framework has to be the right one for the company. For a North Shields business owner, the main benefit is clear, uncluttered reporting that reflects the size and shape of a genuinely small company.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Size is 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: 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, however, is not the whole story. Other eligibility rules and exclusions can apply, and some companies are unable to use the regime regardless of their size. There is also a distinction between qualifying for the regime and choosing it — a company that qualifies may still decide that another framework, such as FRS 102, better suits its circumstances. For directors in North Shields, the practical step is to have the company’s figures and structure reviewed against the current rules before the accounts are prepared, rather than assuming FRS 105 Micro Entity Accounts apply by default.

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 and Accurate Financial Reporting

FRS 105 Micro Entity Accounts need to be prepared carefully, because the simplifications in the standard apply only where the framework genuinely fits the company. The work starts with your records — bookkeeping, bank and card statements, sales and purchase information, payroll, asset purchases and loan movements — and builds those into financial statements that follow the recognition, measurement and disclosure rules of FRS 105. Where the company qualifies and has chosen the micro-entities regime, the accounts can be presented in the simplified micro-entity format, including the reduced notes the standard requires. It is important to keep two things separate: the preparation of the financial statements, and the filing of the accounts at Companies House, which is a distinct step with its own requirements. Corporation Tax is separate again, as the CT600 is filed with HMRC and is not part of the FRS 105 accounts themselves. Our role is to prepare the accounts on the basis of the information provided and the framework that applies, so the reporting is clear, consistent and properly supported.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in North Shields

If you run a North Shields company and think the micro-entities regime may suit you, get in touch to talk through your FRS 105 Micro Entity Accounts requirements. We will ask about your company’s size, its accounting period, the way it trades and any transactions that need particular care, so we can assess whether FRS 105 is likely to be the right framework and what the preparation involves. Have your records to hand — bookkeeping, bank statements, sales and purchase details, payroll information and last year’s accounts if you have them. We can then explain the options in plain English, outline how the accounts and the separate Companies House filing fit together, and let you know what information is still needed before the work begins.

─── 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 simplified rules for recognising and measuring items in the financial statements — for example, no revaluations, no fair value accounting and no recognition of deferred tax — along with a much shorter set of disclosure notes than other standards. It is the standard that applies when a qualifying company chooses to prepare its accounts under the micro-entities regime. The result is shorter, simpler financial statements that still have to be accurate and consistent with the company's underlying records.

Who can use FRS 105?

FRS 105 is for companies that qualify for the micro-entities regime under UK company law and then 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 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 on its own does not automatically mean a company can or should use FRS 105. It is worth checking your position before deciding.

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 choose to apply it — and FRS 105 applies when that regime is used — or it may prepare accounts under another framework, such as FRS 102, where that is appropriate for its circumstances. The choice affects the figures reported, the level of disclosure, and in some cases the profits available for distribution, so it is often sensible to look at the options before committing.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simplest of the UK standards. It removes several accounting choices — no revaluations, no fair value measurement of financial instruments and no deferred tax — and requires far fewer notes. FRS 102 is a fuller framework with more options and more disclosure, including a reduced version for small companies. Which framework fits depends on the company's size, the transactions it enters into and what the directors need from the accounts, particularly if there are loans, investments, group arrangements or shareholders expecting detailed information.

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

In most cases, yes. A limited company must file annual accounts with Companies House, and a company that qualifies and has chosen the micro-entities regime can file them in the simplified micro-entity format. The copy filed publicly can be a shorter version of the full accounts prepared for the members. This is separate from the Confirmation Statement, which is its own filing, and it differs from unincorporated businesses, which do not file accounts at Companies House in the same way.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, while the CT600 is the Corporation Tax Return submitted to HMRC. The tax return usually starts from the figures in the accounts but then applies tax rules — for example capital allowances instead of depreciation, and adjustments for disallowable expenses. Because FRS 105 does not recognise deferred tax, further tax adjustments can arise. Preparing one does not take the place of the other.

Can a new limited company use FRS 105?

It can, if it meets the eligibility conditions and chooses the micro-entities regime. A newly incorporated company is assessed on its first accounting period, and where that period covers more or fewer than 12 months the size thresholds are generally adjusted to reflect the length of the period. Because eligibility is normally assessed on both the current and the preceding period, the framework chosen in the early years can influence the options available later, so it is worth taking advice early — especially if growth, investment or unusual transactions are expected.

What information is needed to prepare FRS 105 accounts?

Typically we need a complete record of income and expenses, bank and credit card statements, sales invoices and purchase receipts, payroll details, information about asset purchases and disposals, stock figures where relevant, loan agreements, director's loan account movements, VAT records and the previous year's accounts. For a new company, incorporation details and the date the first accounting period began are also helpful. Clear, up-to-date records allow the accounts to be prepared accurately and cut down on follow-up questions.