─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Peterlee

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. In Peterlee, we work with company directors who want their accounts prepared properly for their own circumstances, rather than squeezed into a framework that does not fit. FRS 105 is the simplest of the UK accounting standards, but it still requires careful judgements — from confirming that the company actually qualifies for the regime, through to how the figures are presented in the balance sheet and the notes. Our role is to take your records, understand how the business has traded and changed over the period, and prepare FRS 105 financial statements that reflect that position clearly. Nothing about the micro-entities regime is automatic: eligibility depends on the company’s size and on whether any exclusions apply, so the starting point is always a proper review of your position before any accounts are drafted.

🔥 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

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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

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

FRS 105 is the UK financial reporting standard written specifically for micro-entities. If a company qualifies for the micro-entities regime and decides to use it, FRS 105 is the standard its annual accounts must be prepared under — the two go together. The idea behind it is simplicity. Compared with FRS 102, FRS 105 strips out a lot of the measurement and disclosure requirements, on the basis that a very small company needs to say less about its finances than a larger one. In practice, that means a shorter balance sheet, a simpler profit and loss account and far fewer notes, all prepared on the basis that the company is a going concern and using largely historical cost. It suits many owner-managed companies in and around Peterlee that want tidy, compliant accounts without unnecessary complexity. What FRS 105 does not do is remove the need for accurate bookkeeping or sound judgement, and it does not apply to every small company — a company has to meet the size conditions for the micro-entities regime and not fall within any of the relevant exclusions before the regime can be used. Choosing the regime is a decision, not a default, and it should be revisited each year as the business grows.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it — both parts matter. 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. Alongside those size conditions, there are further eligibility rules and certain exclusions that can prevent a company from using the regime even where it looks small on paper. That is why we do not treat FRS 105 as a box that gets ticked automatically. For companies in Peterlee and the surrounding area, the practical approach is to look at your actual figures for the period, check them against the criteria, consider whether any exclusion applies, and then decide whether the micro-entities regime is the right fit. If it is, FRS 105 applies to the accounts; if it is not, another framework will need to be used. Eligibility should also be reviewed each year, because growth, changes in headcount or a shift in the balance sheet can all affect the position.

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 well starts with good information. We begin with your financial records — bookkeeping, bank statements, invoices, expense detail, payroll information and any asset or loan schedules — and build the accounts from there in line with the applicable reporting requirements for the micro-entities regime. Alongside the figures, we consider the presentation: the format of the balance sheet and profit and loss account, the limited notes that FRS 105 requires, and the directors’ responsibilities that sit with the company. Where relevant, we keep two things separate and clear. First, the preparation of the financial statements and their submission to Companies House, which is a company law filing. Second, the company’s Corporation Tax position, which is dealt with through a separate CT600 return submitted to HMRC. FRS 105 accounts and a CT600 are not the same document and do not serve the same purpose, even though they draw on the same underlying records. On that basis we can help you present your results accurately, explain what each filing does, and make sure the accounts you send are consistent with the records you hold. What we cannot do is guarantee any particular outcome or acceptance by a third party — the accounts are prepared on the information provided and the reporting framework that applies to your company.

ICAEW

ACCA

AAT

Need Help With Your FRS 105 Micro Entity Accounts in Peterlee?

If your company may qualify for the micro-entities regime and you would like your FRS 105 Micro Entity Accounts handled properly, get in touch and let’s talk it through. Tell us about your company — what it does, how long it has been trading, roughly what it turns over, how many people it employs and what your balance sheet looks like — and share your latest records so we can assess whether FRS 105 is the right framework for you. We will explain what information we need, how the accounts will be put together, and how the Companies House filing sits separately from your Corporation Tax obligations. There is no obligation and no pressure; the first step is simply a conversation about your circumstances. Clear, transparent pricing and fixed-fee options are available, and we are happy to answer questions before you decide anything.

─── 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 micro-entities. It sits under the UK micro-entities regime and is designed to be the simplest available accounting framework, with limited measurement rules and a much reduced set of disclosures compared with FRS 102. When a qualifying company chooses to apply the micro-entities regime, FRS 105 is the standard its annual accounts are prepared under.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualification is based on size and is subject to additional eligibility rules and exclusions, so a company cannot assume it qualifies simply because it is small. Meeting the size conditions is the starting point, not the whole test, and the position can change from one accounting period to the next.

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. Other rules and exclusions can also affect whether the micro-entities regime is available, so the criteria should be checked against the company's actual figures rather than assumed.

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 decide to prepare its accounts under a different framework, for example FRS 102, and there can be good reasons for doing so — such as the way certain transactions are measured or the level of disclosure directors want to provide. What matters is that the framework chosen is appropriate and applied consistently.

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. FRS 105 is the micro-entities standard, offering simpler measurement and far fewer disclosure requirements. FRS 102 is the standard used more widely by small and medium-sized companies and is more detailed, with broader recognition and measurement rules and a fuller set of notes. FRS 105 accounts are shorter and leaner; FRS 102 accounts typically give a more extensive picture.

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

Annual accounts for a limited company are generally filed with Companies House, and where those accounts are prepared under FRS 105 that is the framework reflected in the filing. Filing the accounts is a separate requirement from dealing with Corporation Tax. It is worth keeping in mind that the way micro-entity accounts are filed has been subject to change, so it is sensible to confirm the current filing requirements for your period before you submit.

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

Yes, they are separate. FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax return submitted to HMRC to report the company's taxable profit and calculate the tax due. The two draw on the same underlying records, but they are different documents, go to different bodies, and serve different purposes.

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

In most cases we would ask for your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll details if you employ staff, and schedules for any fixed assets, loans or director balances. We would also want to know about anything unusual that happened during the period. From there we can confirm whether FRS 105 is appropriate for your company and explain exactly what else, if anything, is needed.