─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Shildon: Clear, Professionally Prepared Financial Statements

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK micro-entities which choose to apply the micro-entities regime. For companies in Shildon and the surrounding County Durham area, this route can mean shorter, simpler financial statements, with reduced disclosure and a format designed for smaller businesses. Whether FRS 105 is the right framework depends on your company’s circumstances — its size, its structure, and whether any eligibility rules or exclusions apply — so it is worth reviewing before you commit to an approach. Professional preparation helps make sure your FRS 105 Micro Entity Accounts reflect your actual financial records, are presented in the correct format, and are consistent from one year to the next, while keeping the accounts themselves clearly separated from your Corporation Tax Return (CT600) and other Companies House filing obligations.

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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

FRS 105 Explained: The Accounting Framework Behind Micro-Entity Accounts

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime in company law: a company that qualifies as a micro-entity can choose to apply that regime, and when it does, FRS 105 is the standard used to prepare its financial statements. In plain terms, FRS 105 keeps things simple. It works on a historical cost basis, so assets are generally carried at what was paid for them rather than being revalued or measured at fair value, and it requires far fewer notes to the accounts than the standards used by larger companies. The result is a shorter balance sheet, a straightforward profit and loss account, and a set of accounts that is easier for a director, a lender, or an adviser to read. It is worth being clear about what FRS 105 is not: it is not a tax return, and it is not automatic. Qualifying companies may choose to apply the micro-entities regime, and FRS 105 applies when that regime is chosen — the framework follows the choice, rather than being imposed on every small company.

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

FRS 105 is available to UK companies that qualify for the 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 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. Those figures are a guide to the size test, not the whole test. Other eligibility rules and exclusions can apply — certain types of entity are not permitted to use the regime, and there are additional considerations for companies that form part of a group or that have already adopted a different accounting framework. Meeting the size thresholds alone therefore does not guarantee that a company qualifies, and qualifying does not oblige a company to use FRS 105. It is an available accounting regime, and the sensible approach for a Shildon-based company is to review eligibility and suitability together before deciding which framework to apply.

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

Good FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank statements, invoices, payroll information and asset details to build a set of financial statements that reflects what actually happened in your business during the period, presented in the format required under FRS 105. That means checking that the figures hang together, that the balance sheet balances, and that the disclosures included are the ones appropriate to a micro-entity applying the regime. It also means keeping two separate things separate: the preparation of your FRS 105 financial statements and their submission to Companies House on the one hand, and your Corporation Tax position on the other. A CT600 is a distinct filing made to HMRC, and while it normally starts from the figures in your accounts, it can involve adjustments that do not appear in the accounts themselves. If you would like clarity on which parts of the process are accounting, which are Companies House filing, and which are tax, we can talk you through it in straightforward terms.

ICAEW

ACCA

AAT

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

If you run a small company in Shildon and you are weighing up whether the micro-entities regime is right for you, get in touch and let’s work through it together. The most useful starting point is a short conversation about your company: what it does, how it is structured, roughly how it has performed, and what you already have in the way of records. From there we can look at whether FRS 105 Micro Entity Accounts are likely to be appropriate for your circumstances, explain what the accounts will include, and set out what we need from you to get them prepared. If you are unsure whether you qualify, or whether FRS 105 or another framework suits you better, that is exactly the kind of question worth asking early — before the year end rather than after it. Reach out with your details and we will help you take the next step.

─── 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 a qualifying micro-entity that chooses to apply the micro-entities regime should prepare its financial statements. It is deliberately simplified: accounts are prepared on a historical cost basis, there is no revaluation or fair value measurement, deferred tax is not recognised, and the number of disclosures required is much smaller than under the standards used by larger companies. In practice, a set of FRS 105 accounts typically consists of a simple balance sheet and a profit and loss account with limited notes.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities under UK company law and that choose to apply the micro-entities regime. Qualifying is not just about size — certain types of entity are excluded from the regime altogether, and there are rules about group membership and about which accounting framework a company has already adopted. Because of this, meeting the size criteria does not automatically mean a company can, or should, use FRS 105. It is worth checking your specific position before deciding.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies can choose to apply it, in which case FRS 105 is the framework used, or it can prepare its accounts under a different framework such as FRS 102. Many qualifying companies choose FRS 105 because it is simpler and shorter, but it is a decision rather than a default, and the choice generally needs to be applied consistently once made.

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. Those conditions are subject to the relevant rules and exclusions, so they should be treated as a starting point rather than a complete answer. A company also needs to be eligible for the micro-entities regime in the first place.

What is the difference between FRS 105 and FRS 102?

The main difference is complexity. FRS 105 is a slimmed-down framework built specifically for micro-entities: historical cost only, minimal disclosure, and a simpler presentation. FRS 102 is a fuller standard that offers more accounting policy choices — for example around revaluations and certain fair value measurements — and requires considerably more disclosure. FRS 102 Section 1A is a reduced-disclosure version used by many small companies. The right choice depends on your size, your plans, and what your lenders or other users of the accounts may expect to see.

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

Yes. A company that prepares its annual accounts under FRS 105 still has to file accounts with Companies House for the relevant financial year, and micro-entity accounts can often be filed in a simplified format. Filing the accounts is separate from dealing with Corporation Tax, and it is also separate from your Confirmation Statement. It is worth noting that Companies House has been moving towards requiring accounts to be submitted using software rather than paper or simple online forms, so the practical mechanics of filing micro-entity accounts may change over time.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are your statutory 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 your company's taxable profits and work out the tax due. The CT600 normally starts from the figures in your accounts, but tax adjustments can mean the taxable profit differs from the accounting profit, so the two documents should not be treated as interchangeable.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, payroll details for the year, records of any assets bought or sold, details of loans and directors' loan account movements, and stock or work-in-progress figures where relevant. Having these complete and up to date makes the process faster and reduces the number of questions that come back to you. If your records are in reasonable shape but not fully reconciled, that is usually something we can work with — it just helps to know in advance.