─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Yarm

FRS 105 Micro Entity Accounts are the simplest statutory accounts framework available to UK companies that qualify for, and choose to apply, the micro-entities regime. If your company is based in or around Yarm, preparing FRS 105 Micro Entity Accounts means reporting under a regime built for genuinely small businesses: a simplified balance sheet, a simplified profit and loss account, and a set of disclosure requirements far shorter than those under larger reporting frameworks. FRS 105 provides the financial reporting framework itself, and it applies when a qualifying company decides to use the micro-entities regime rather than a fuller standard such as FRS 102 Section 1A. That decision should be made with your own circumstances in mind, because eligibility depends on the size of the company, the nature of its activities, and whether any exclusions apply — meeting a size test alone does not automatically mean FRS 105 is available to you. Professional preparation helps you work through those points properly: reviewing your records, confirming how the accounts should be presented, preparing the financial statements in line with the applicable requirements, and dealing with the Companies House filing separately from any Corporation Tax obligations. It also gives you a clear picture of what your accounts are saying about the business, which is useful when you are making decisions about the year ahead.

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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
  
 
      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.
  
 
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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: What It Means for Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for companies that use the micro-entities regime. In plain terms, it is the rulebook that tells you how a qualifying micro-entity’s financial statements should be put together — what goes on the balance sheet, what goes in the profit and loss account, and how much has to be explained in the notes. Its purpose is simplicity. Under FRS 105, accounts can be prepared on a straightforward basis with far fewer disclosures than the fuller standards used by larger companies, which keeps the reporting process proportionate for a genuinely small business. It is important to separate two ideas here. The micro-entities regime is an available accounting regime for qualifying companies, and FRS 105 is the standard that applies when a company chooses to use that regime. It is not an automatic label that attaches to every small company, and it is not the only option open to you. A qualifying company can instead choose a fuller framework if that suits its circumstances better — for example, where a lender, investor, or group parent needs more detail. FRS 105 also sits alongside, rather than replaces, your other filing obligations: the statutory accounts are one thing, and a Corporation Tax Return (CT600) is a separate submission to HMRC. Understanding which framework applies to you, and why, is usually the first practical step in getting FRS 105 Micro Entity Accounts in Yarm right.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is largely driven by size. 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 during the period. Those tests give you a useful starting point, but they are not the whole picture. Other eligibility rules and exclusions apply, and some companies are unable to use the micro-entities regime even when their figures look small — for example, certain types of entity are excluded by the rules regardless of size. Meeting the size thresholds therefore does not automatically mean a company qualifies, and qualifying does not mean the regime has to be used. It is an available accounting regime, and FRS 105 applies when a company chooses it. For a Yarm-based company, the practical approach is to look at the most recent and expected figures, consider whether any exclusion is relevant, and then decide whether the micro-entities regime or a fuller framework best suits how the business is run and who relies on its accounts.

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 in Yarm

Well-prepared FRS 105 Micro Entity Accounts start with accurate records. Your bookkeeping, bank statements, sales and purchase information, asset details, and any loan or director’s account balances are the raw material for the financial statements, and the quality of what you provide directly affects how smoothly the process runs. From there, the accounts are prepared in line with the reporting requirements that apply to your company, taking into account the framework you have chosen, the accounting policies that suit your business, and the disclosures that FRS 105 requires at micro-entity level. The result should be a set of financial statements that reflects what actually happened in the year, rather than a set of numbers that simply fits a template. It is also worth being clear about what sits where. Preparing FRS 105 Micro Entity Accounts is about producing the statutory financial statements; filing those accounts with Companies House is a separate step with its own requirements. Corporation Tax is separate again — a CT600 is submitted to HMRC and deals with the company’s tax position rather than its statutory reporting. Keeping these three strands distinct helps avoid the confusion that often surrounds small company compliance. We work from the information you provide, explain the basis on which the accounts have been prepared, and highlight the points you should be aware of before anything is finalised, so you are making decisions with a proper understanding of your position rather than assumptions.

ICAEW

ACCA

AAT

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

If you run a small company and want to know whether FRS 105 Micro Entity Accounts are the right fit, the sensible next step is a straightforward conversation. Tell us about your business — what it does, how it is structured, roughly how it has performed, and whether anything unusual happened during the year, such as a new loan, a significant asset purchase, or a change in ownership. If you already have draft accounts or a previous year’s filing, sharing those helps build a clearer picture. We will look at your circumstances, explain how the micro-entities regime works and where FRS 105 applies, set out what information we need from you to prepare the financial statements, and outline the separate steps involved in filing with Companies House and dealing with Corporation Tax. There is no obligation and no pressure — just a clear discussion about what your company needs and how we can help you get there.

─── 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 use the micro-entities regime. It sets out how a qualifying micro-entity prepares its statutory financial statements, including the format of the balance sheet and profit and loss account and the limited disclosures required. It is deliberately simpler than the standards used by larger companies, so the reporting burden stays proportionate to the size of the business.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualification is based on size conditions, but other eligibility rules and exclusions also apply, so meeting the size tests on their own does not guarantee that a company can use the regime. Some companies are excluded regardless of size, and certain entities must follow a different framework. It is worth checking your specific position rather than assuming.

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 for it can choose to apply it, in which case FRS 105 applies, or it can choose a fuller framework such as FRS 102 Section 1A. The right choice depends on your circumstances — for example, whether a bank, investor, or parent company needs more detailed information than micro-entity accounts provide.

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 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. These are size tests only — the relevant rules and exclusions still apply, and some companies are prevented from using the regime for other reasons. Always check the conditions against your own accounting period.

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 and offer different levels of detail. FRS 105 is the micro-entity standard, with a simplified format and minimal disclosures. FRS 102 is used more broadly, and Section 1A of FRS 102 provides a reduced-disclosure option for small companies that do not use the micro-entities regime. FRS 102 generally requires more disclosures and applies fuller recognition and measurement rules than FRS 105.

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

Preparing the accounts and filing them are two separate steps. If your company prepares FRS 105 Micro Entity Accounts, those statutory accounts will normally need to be filed with Companies House, subject to the filing requirements that apply to your company. Filing the accounts is distinct from Corporation Tax, which is dealt with separately through a CT600 submitted to HMRC, and also distinct from the Confirmation Statement. Keeping these obligations separate helps you stay on top of each one.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In practice, a first-year company will need to consider its expected turnover, balance sheet total, and employee numbers, along with whether any exclusions apply to it. Because a first accounting period can be longer or shorter than twelve months, and because the size tests are applied in a particular way, it is worth reviewing the position before deciding on a framework.

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

Typically you would provide your bookkeeping records or accounting software reports for the period, bank statements and reconciliations, details of sales and purchases, a list of assets and any depreciation or disposal information, loan and director's loan account balances, stock or work-in-progress figures where relevant, and details of any share capital. If accounts were prepared previously, those are helpful for comparison. The clearer and more complete your records, the more straightforward the preparation tends to be.