─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Broughton In Furness, Prepared and Filed With Professional Support

Your first accounting period as a limited company rarely looks like the ones that follow. The period itself may run longer than twelve months, the reporting framework has to be considered against your circumstances, and the Companies House side of things works differently from the Corporation Tax side. We prepare first year statutory accounts for newly incorporated and newly trading limited companies in Broughton In Furness, starting with a review of the accounting records you hold, then building a balance sheet and, where applicable, a profit and loss account from that information. Once the directors have reviewed and approved the accounts, we can take care of delivery to Companies House where required. A Corporation Tax Return, such as a CT600, is a separate submission made to HMRC, and we will be clear about where one obligation ends and the other begins.

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First Year Accounts Preparation

(Turnover up to £100K)

£499.00

£399.00

+vat

Micro-Entity Accounts Preparation
Companies House Filing
Corporation Tax Return
Qualified Accountant Support
FRS 105 Accounts
Experienced Accountants

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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 
    
 
 
 
   
 
 
       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.

Your first filing timeline

Incorporation

Your first filing timeline depends on your company's incorporation date and accounting reference date.

Accounting reference date

Set by default to the last day of the month of incorporation, one year on.

First accounts due

Normally 21 months after incorporation at Companies House.

First CT600 due

12 months after the end of the accounting period, with tax due earlier.

What Are First Year Accounts for a Micro Company? A Guide for New Limited Companies in Broughton In Furness

First year accounts are the first set of statutory annual accounts a limited company produces. They cover the company’s initial accounting period, which normally runs from the incorporation date through to the company’s first accounting reference date. That opening period can be longer than twelve months, and because it starts on incorporation rather than on a neat calendar year end, the first set of accounts is prepared differently from the annual accounts that follow in later years. The accounts themselves are statutory accounts, prepared under an applicable financial reporting framework and structured around a balance sheet, plus a profit and loss account where the framework and the company’s circumstances require one. They are usually accompanied by notes and by the directors’ statement confirming their responsibilities. Company directors remain responsible for ensuring the accounts are prepared and delivered, even where an accountant handles the preparation and filing work on their behalf. Some companies may qualify to report as micro-entities if they meet the eligibility conditions for the relevant accounting period. Where that applies, the micro-entity framework — and FRS 105 as the standard used by qualifying entities — can simplify the disclosures required. Eligibility is not automatic, though. A newly incorporated company with low activity does not necessarily qualify, and the appropriate framework should be confirmed against the company’s own figures and circumstances before anything is filed. Filing with Companies House is a further step. Statutory accounts are delivered to Companies House where required, subject to the applicable requirements and the company’s accounting reference date. This is separate from a Corporation Tax Return such as a CT600, which is submitted to HMRC where applicable, and separate again from a confirmation statement, which is a Companies House filing about the company’s registered information rather than its financial results. Accurate accounting records make all of this far more straightforward. Bank transactions, sales and income records, purchase invoices, expense receipts, asset purchases, share capital details and any director loans or payroll and VAT records where relevant all feed into the figures. For directors in Broughton In Furness preparing their first set of accounts, sorting those records early usually means fewer questions later.

Does Your New Company Qualify as a Micro Entity?

Even in your first period, your company must meet the Companies House size criteria to file micro-entity accounts. A company generally needs to meet at least two of these three 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)

─── OUR FIRST YEAR SERVICES

What's Included in Our First Year Accounts Service?

Our first-year accounts package can include statutory accounts preparation, Companies House filing and Corporation Tax Return preparation where included in the selected package.

First Year Accounts Preparation

Preparation of your first set of statutory accounts under the micro-entity reporting framework, from incorporation to your first year end.

First Accounting Period Review

Review of extended first accounting periods and any separate Corporation Tax return periods where applicable.

Companies House Filing

We prepare and submit your first statutory accounts to Companies House within the filing window.

First Corporation Tax Return (CT600)

Preparation of your first Company Tax Return and supporting computations for HMRC.

Opening Balances & Set-Up Costs

We record pre-trading expenses, director loans and share capital correctly in your opening balance sheet.

─── WHY CHOOSE US

Why Choose Us

Micro Entity Accountants keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Specialists

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.

Fixed Fee, No Surprises

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

Included in every first year file

Confirmation of your accounting reference date

Split Corporation Tax Returns where the period exceeds 12 months

Pre-trading and formation costs reviewed

Share capital and director loan account set up

Companies House and HMRC submission receipts

─── How It Works

How Our First Year Accounts Filing Service Works

Share Your Company Details

Send us your incorporation date, accounting reference date, bank statements and any pre-trading costs through our secure portal.

First Accounts & Tax Return Prep

We build your opening balances, prepare your micro-entity accounts and your first CT600 Corporation Tax Return.

Review & Approval of Drafts

You receive draft accounts with plain-English explanations of what has been included and why, ready for director approval.

Submit to HMRC & Companies House

We file your first accounts with Companies House and your CT600 with HMRC, then confirm both submissions.

─── Why Choose Us

Why Choose Us for Your First Year Accounts?

We keep a first filing simple, transparent and easy to manage for directors doing it for the first time.

Paperless Onboarding

Get your new company set up on a fully digital, secure accounting process in minutes.

First-Year Compliance Support

We help you understand the accounting period, records and filing requirements that apply to your company's first accounts.

Fully Qualified Accountants

All work is handled by UK-qualified accountants who specialise in micro companies.

Fixed Fee, No Hidden Costs

One simple fee covering your first accounts preparation and both filings.

─── WHO WE HELP

First Year Accounts Support for Micro Companies Across the UK

Newly Incorporated Companies

Companies formed in the last 12 to 18 months filing their very first set of accounts.

First-Time Directors

Directors who have never filed statutory accounts and want the process explained clearly.

Newly Incorporated Limited Companies

Small companies with limited first-year trading, including those that stayed dormant part of the period.

Get Your First Year Accounts for Limited Company in Broughton In Furness Prepared Accurately and Filed Correctly

If you are unsure what your first set of statutory accounts should include, which reporting framework applies, or what Companies House expects from a company in its opening period, you are not alone — it is one of the most common questions we hear from new directors. Micro Entity Accounts works with newly incorporated and newly trading limited companies on the preparation, review and filing of first year accounts, using the records you hold to build figures that stand up to scrutiny. We will tell you what information we need, explain how the first accounting period and accounting reference date affect your position, and flag where a separate Corporation Tax Return or confirmation statement may also apply. It is a straightforward way to start your company’s compliance history on the right footing.

─── FAQs

First Year Accounts 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 are first-year accounts for a limited company?

They are the first set of statutory annual accounts covering your company's initial accounting period, which normally begins on the incorporation date and ends on your first accounting reference date. They include a balance sheet, a profit and loss account where the applicable framework requires one, supporting notes and a directors' statement. Preparing them is not optional simply because the company is new — the obligation to prepare and deliver accounts generally applies from the first period onwards.

When do first-year accounts need to be filed?

The deadline depends on your incorporation date, your accounting reference date and the applicable Companies House requirements, so it is not the same for every company. First accounts deadlines are usually measured from the incorporation date rather than from the end of the accounting period, which is why they can catch directors out. You can confirm your company's own filing date through Companies House, and we can help you work out what it means for your preparation timetable.

What information is needed to prepare first-year accounts?

Typically your bank transactions and statements, sales or income records, purchase invoices and expense receipts, details of any assets bought for the business, share capital information, director loan movements, and payroll or VAT records where those apply to you. Companies with limited activity may only have a handful of items to review, but the records still matter. Not every company will have all of these, and we will tell you exactly what is relevant to your circumstances before you send anything over.

Do newly incorporated companies have to file accounts with Companies House?

Generally yes, where required, even if the company has had little or no activity. Companies House accounts filing is separate from your Corporation Tax obligations and from your confirmation statement, and completing one does not discharge the others. If your company has had no significant accounting transactions, its reporting position depends on the specific circumstances and the applicable rules rather than being automatically treated as dormant, so it is worth checking before assuming nothing needs to be filed.

Do first-year accounts have to be filed if the company has not started trading?

Not trading does not automatically remove your statutory obligations. A company may still need to prepare and deliver accounts for its first period, although the framework used and the level of disclosure can differ depending on whether the company meets the definition of dormant for the period in question. Corporation Tax obligations are assessed separately, and HMRC should be notified of your position. We can review your situation and explain which filings are likely to apply.

Are first-year accounts the same as a Corporation Tax Return or CT600?

No. Statutory accounts go to Companies House, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. The figures in your accounts often inform the tax return, but the two serve different purposes and are filed with different bodies. It is also possible for your first Corporation Tax accounting period and your statutory accounts period to differ, which is one reason directors in Broughton In Furness often ask for both to be looked at together.

Can a new limited company file micro-entity accounts?

It depends. Micro-entity reporting is available to companies that meet the eligibility conditions for the relevant accounting period, and being newly incorporated or having modest activity does not guarantee eligibility on its own. Where a company does qualify, the micro-entity framework — with FRS 105 as the standard used by qualifying entities — can reduce the disclosures required. The right framework should be confirmed against your figures and circumstances before the accounts are finalised.

What happens if first-year accounts are filed late?

Failing to deliver accounts by the applicable Companies House deadline can lead to consequences for the company and its directors, and the outcome is not identical in every case. Paying any penalty does not remove the requirement to file the outstanding accounts, and the filing position continues until it is resolved. If you are already overdue, or think you may be, it is worth getting advice early — appeal eligibility depends on the circumstances and the applicable rules, and there is no guarantee of a particular outcome.