─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Chester-le-Street, Prepared by Micro Entity Accounts

Incorporating a company in Chester-le-Street brings a set of statutory duties that begin long before your first invoice is raised. The most immediate of these is usually the first set of accounts. Micro Entity Accounts helps newly incorporated and newly trading limited companies prepare their first year accounts for limited company purposes — reviewing the accounting records you hold, drafting the balance sheet and profit and loss account where applicable, and delivering the statutory accounts to Companies House where required. Just as importantly, we set out what sits outside that filing, including the separate Corporation Tax return, such as a CT600, which is submitted to HMRC where applicable, and any confirmation statement obligation the company still has. Directors remain responsible for the company’s compliance, but professional preparation means the figures are properly structured, the reporting framework is chosen sensibly, and there are no surprises when the filing date approaches.

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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, and Does Your Chester-le-Street Company Qualify?

First year accounts are the first set of annual statutory accounts a limited company prepares. They cover the company’s initial accounting period, which normally runs from the date of incorporation to its first accounting reference date. That first period can be longer than the twelve months covered by later sets of accounts, which is one of the reasons it is treated separately by Companies House and why directors often find it the least familiar filing they will make. Once the reporting period closes, the accounts are prepared from the company’s accounting records — bank transactions, sales and income records, purchase invoices, expense receipts, asset purchases, director transactions, share capital details, loans and finance arrangements, and payroll or VAT records where those are relevant. From those records we build a balance sheet, alongside a profit and loss account where the applicable framework requires or permits one. The completed statutory accounts are then delivered to Companies House where required. A confirmation statement is a separate filing and does not replace the accounts, and a Corporation Tax return such as a CT600 is submitted to HMRC rather than Companies House, so the two obligations should be tracked independently. Where a company is eligible, it may be able to report under the micro-entity framework, using FRS 105, the financial reporting standard written for qualifying entities. Eligibility depends on meeting the applicable criteria for the relevant accounting period and is not automatic for a newly incorporated company — turnover, balance sheet total, employee numbers and the company’s overall circumstances all feed into the decision. Some companies fall into the small-company regime instead, and others need fuller reporting. Part of our work is identifying which framework genuinely fits your company rather than assuming the simplest one applies.

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 Chester-le-Street Prepared Accurately

If your company has recently been incorporated, the uncertainty usually is not about whether accounts are needed — it is about what belongs in them, which reporting framework applies, and what has to reach Companies House. Those are fair questions, and they are the ones we deal with most often. Micro Entity Accounts provides professional preparation and filing support for first year accounts for limited companies, including Chester-le-Street directors running their first accounting period. We work from the records you have, explain the choices affecting your accounts in plain terms, and handle the filing itself where required, while making clear that separate Corporation Tax and confirmation statement obligations remain the company’s responsibility. If you would rather start your first accounting period with the figures properly structured and the filing under control, it is worth speaking to a professional before the deadline draws closer.

─── 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?

First year accounts are the company's first set of annual statutory accounts. They cover the initial accounting period, which runs from the date of incorporation to the first accounting reference date, and they are prepared from the company's accounting records. The set normally includes a balance sheet, and a profit and loss account where the applicable reporting framework requires one to be prepared or filed. Once complete, the statutory accounts are delivered to Companies House where required.

When are first accounts due?

The due date depends on a combination of factors rather than a single fixed rule. Your incorporation date sets the first accounting reference date, and Companies House applies different filing timing to a company's first accounts than it does to later years. The practical answer is to check your company's own accounting reference date and filing requirement rather than relying on a general figure, and to work back from that date when preparing the records. If you are unsure which period applies to your Chester-le-Street company, we can review it with you.

What information is needed to prepare first year accounts?

It varies by company, but the usual starting point is your bank transactions, sales and income records, business expense receipts and purchase invoices, details of any assets bought, share capital information, director loan movements, and any loans or finance agreements taken out. Where the company runs payroll or is VAT registered, those records are relevant too. Not every company will have all of these — a company with limited activity may have very few transactions to report.

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

In most cases, yes. Incorporation itself creates statutory filing obligations, and a company may still need to prepare and file accounts even where it has carried out very little activity or has not yet begun trading. Where there have been no significant accounting transactions, the company's reporting position depends on its specific circumstances and the applicable rules — it is not automatically dormant simply because the bank account has been quiet. Getting this wrong can create avoidable problems, so it is worth confirming your position rather than assuming no filing is needed.

Are first year accounts different from annual accounts?

They are the same type of filing, but the first set has its own characteristics. The initial accounting period often covers more than twelve months, and the filing timing for a company's first accounts differs from the timing that applies to subsequent years. From the second period onwards, accounts normally cover a standard twelve-month period ending on the accounting reference date, unless the company changes its year end.

Are first year accounts the same as a CT600?

No. They are separate filings with separate destinations. Statutory accounts go to Companies House where required, while a Corporation Tax return such as a CT600 is submitted to HMRC where the company has a Corporation Tax obligation. Filing one does not complete the other. It is also worth noting that a company's first Corporation Tax accounting period and its statutory accounts period may not be identical, which is a common source of confusion for directors in the first year. The figures in the accounts are often used as a starting point for the tax position, but the two exercises serve different purposes.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies do qualify, but it is not automatic. Eligibility under the micro-entity framework depends on meeting the applicable criteria for the relevant accounting period, which take into account factors such as turnover, balance sheet total and employee numbers. FRS 105 is the standard used by qualifying entities within that framework. A company that does not meet the criteria may report as a small company instead, so the framework should be determined from your actual circumstances rather than assumed.

Do first year accounts replace the confirmation statement?

No. A confirmation statement is a separate filing that keeps Companies House informed that the company's registered details remain accurate, and it is not replaced by filing accounts. Filing accounts also does not complete any VAT return or Corporation Tax obligation the company may have. It is worth tracking each requirement separately so that nothing is overlooked during a busy first year of trading.

What happens if first year accounts are filed late?

Failing to file required accounts by the applicable deadline can lead to consequences from Companies House, and the position can vary depending on how late the accounts are and the company's filing history. Paying any penalty does not remove the requirement to file the outstanding accounts — the filing still has to be made. If accounts are already overdue, the sensible step is to get them prepared and submitted promptly rather than delay further. Where an appeal against a penalty is considered, eligibility depends on the individual circumstances and the applicable rules.