─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Chalgrove

If you have incorporated a limited company and are approaching the end of its first accounting period, you will need to prepare a set of statutory accounts. These are the company’s first set of annual accounts and they cover the period from incorporation (or from the date the company began trading, where the period is shortened) through to its first accounting reference date. Micro Entity Accounts works with newly incorporated companies and their directors in Chalgrove to prepare First Year Accounts for Limited Company reporting, review the underlying accounting records, and file the accounts with Companies House where required. We also flag where a separate Corporation Tax Return, such as a CT600, may be needed, since that is a distinct submission made to HMRC rather than to Companies House, and where a confirmation statement or other filing sits alongside the accounts.

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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?

First-year accounts are the initial set of statutory accounts a limited company prepares for its first accounting period. They are not optional simply because the company is new. Once incorporated, a company has statutory accounts obligations, and those obligations generally begin from the accounting reference date set at incorporation. The first accounting period often runs from the incorporation date to that first accounting reference date, although Companies House can allow a shortened or extended period in certain circumstances, and the exact dates depend on the company’s own incorporation details. The accounts themselves are prepared from the company’s accounting records. Depending on the company’s circumstances and activity, that might include bank transactions, sales and income records, purchase invoices, business expenses, asset purchases, director transactions and loan balances, share capital information, and payroll or VAT records where those are relevant. If the company has had very limited activity, or has not yet started trading, it may still have a filing position to consider, and whether it can be treated as dormant depends on the applicable rules rather than simply on the absence of sales. Many small companies prepare their accounts under a simplified framework. A company may qualify as a micro-entity, or as a small company, if it meets the eligibility requirements for the relevant accounting period, and qualifying micro-entities may use the micro-entity accounting framework set out in FRS 105. That framework is not automatic for every newly incorporated company, and the appropriate basis should be confirmed against the company’s size, turnover, balance sheet total and employee numbers for the period in question. Accounts prepared on this basis typically include a balance sheet, and a profit and loss account is not always filed at Companies House for micro-entity accounts, although the underlying figures still need to be accurate and supported. It is worth separating out the different filings. First-year statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted separately to HMRC, and the company’s first Corporation Tax accounting period does not always match its statutory accounts period. A confirmation statement is a further separate filing that keeps the public register up to date and does not replace the accounts. Directors remain responsible for making sure these obligations are met, even where an accountant prepares the figures.

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 Prepared and Filed with Confidence

The first set of accounts tends to raise more questions than any other: which accounting period applies, what needs to go into the balance sheet, whether the company qualifies for micro-entity reporting, and what actually has to be sent to Companies House. Micro Entity Accounts helps directors of newly incorporated companies in Chalgrove work through those questions, from reviewing your records and preparing the statutory accounts to supporting the Companies House filing where required, with clear pricing and no hidden costs. If your first accounting period is approaching or your records are not yet in a usable state, getting professional support early usually makes the process far more straightforward.

─── 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 accounts a company prepares for its initial accounting period, covering the period from incorporation through to its first accounting reference date. They are prepared from the company's accounting records and are delivered to Companies House where required. They are separate from any Corporation Tax Return submitted to HMRC.

When are first accounts due?

The due date depends on the company's incorporation date and its accounting reference date, so there is no single answer that applies to every company. Companies House sets the accounting reference date at incorporation, and the filing deadline follows from that. It is worth checking the company's own record on the register rather than assuming the standard pattern applies, and we can confirm the position for your company.

What information is needed to prepare first-year accounts?

Usually the company's accounting records for the period, which may include bank statements and transactions, sales and income records, purchase invoices and expenses, details of assets bought, director loan movements, share capital information, and payroll or VAT records where relevant. Not every company will have all of these, so the list is tailored to what the business has actually done during the period.

Do new limited companies have to file accounts with Companies House?

In most cases, yes. A newly incorporated company will normally have a statutory accounts filing obligation for its first period, even where trading has been limited or has not yet started. Whether a dormant or other simplified position applies depends on the company's circumstances and the applicable rules. Filing accounts at Companies House does not discharge any separate Corporation Tax or confirmation statement obligations.

Are first-year accounts different from annual accounts?

They follow the same underlying principles, but the first set often covers a longer period than later ones because it usually runs from incorporation to the first accounting reference date. After that, accounts normally cover a twelve-month period ending on the accounting reference date. The reporting framework used may also differ as the company grows and its eligibility changes.

Do first-year accounts need to be filed if the company has not traded?

A company may still have a filing position even where it has had little or no activity after incorporation, so it should not be assumed that nothing needs to be done. Whether the company can be treated as dormant depends on the applicable rules and the specific transactions that have taken place, for example any share capital issued or expenses paid. Directors of companies in Chalgrove in this position should check the requirements rather than leave the deadline to pass.

Are first-year accounts the same as a CT600?

No. The statutory accounts are prepared for the company and filed with Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC, and it is a separate filing with a separate purpose. Information from the accounts is often used when preparing the Corporation Tax position, but submitting one does not complete the other, and the company's first Corporation Tax accounting period may not match its statutory accounts period.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies do qualify for the micro-entity framework, but it is not automatic. Eligibility depends on meeting the applicable thresholds for the relevant accounting period, and where those are met the accounts may be prepared under FRS 105. If the company does not qualify, a small-company or other framework may be more appropriate. We assess the position against your company's circumstances before deciding how to prepare the accounts.

What happens if first-year accounts are filed late?

Filing after the applicable deadline can lead to consequences from Companies House, and the position can worsen the longer the accounts remain outstanding. Paying any penalty does not remove the need to file the accounts themselves. If your accounts are already overdue, it is usually best to deal with them as soon as possible, and we can help prepare and file the outstanding accounts while explaining the options available.