─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Colchester — Professional Preparation and Filing Support

Your company’s first set of statutory accounts is a milestone, and for a newly incorporated business in Colchester it often raises more questions than any later year. Micro Entity Accounts helps directors of newly incorporated and newly trading limited companies prepare their first year accounts for limited company purposes — reviewing the accounting records, drafting the balance sheet and profit and loss account where applicable, and supporting the filing of those accounts with Companies House where required. We also help you understand where the first accounting period begins and ends, which reporting framework is likely to suit the company, and how statutory accounts sit alongside your other obligations. Corporation Tax is a separate matter: a CT600 is submitted to HMRC, not Companies House, and may follow a different accounting period. Our role is to bring clarity to that first year so the numbers are accurate, the disclosure is appropriate and the filing position is properly understood.

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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 Colchester

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They are not optional simply because the company is new. Once a company is incorporated, it has statutory reporting obligations, and its first accounting period normally begins on the date of incorporation and ends on the company’s first accounting reference date. Companies House sets a default accounting reference date at incorporation, usually linked to the month in which the company was formed, so the length of that first period depends on the incorporation date rather than following a single fixed rule for every company. Those first statutory accounts are generally prepared from the company’s accounting records — bank transactions, sales and income records, business expenses, purchase invoices, asset purchases, director transactions, share capital information and any loans or finance arrangements, along with payroll or VAT records where the company has them. From that information, we prepare the balance sheet, and a profit and loss account where applicable, together with the supporting notes and disclosures required for the applicable reporting framework. The accounts are then filed with Companies House where required. Some companies may qualify for simplified reporting as a micro-entity, but eligibility is not automatic. A company needs to meet the applicable eligibility requirements for the relevant accounting period, and the appropriate framework is considered on the company’s own circumstances. Where a company does qualify, FRS 105 is the financial reporting standard used under the micro-entity framework, and it permits a simplified set of accounts. A newly incorporated company is not automatically a micro-entity, and FRS 105 does not apply to every new limited company. It is worth separating first year accounts from the company’s other compliance tasks. Statutory accounts go 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 may not be identical to its statutory accounts period. A confirmation statement is also a separate filing, confirming that the information Companies House holds about the company remains correct. Filing first year accounts does not replace any of these — each has its own purpose and its own destination. If a company has had little or no activity since incorporation, its reporting position still depends on its circumstances and the applicable rules rather than being treated as dormant automatically, so it is worth taking advice before deciding how to proceed.

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.

First Year Accounts for Limited Company in Colchester — Prepared, Reviewed and Filed

If your company was incorporated recently and you are unsure what the first accounting period covers, which records you need to pull together, or which reporting framework applies, you are in a familiar position for many directors in Colchester. Micro Entity Accounts provides professional first-year accounts preparation and filing support for eligible UK limited companies, from reviewing your accounting records through to delivering the statutory accounts to Companies House where required, and explaining how that fits alongside your separate Corporation Tax, confirmation statement and record-keeping responsibilities. With clear pricing, transparent fees and no hidden costs, you know what is being prepared and why. Rather than leaving your first set of accounts to chance, get them prepared properly from the outset — speak to us about your first year accounts and start your company’s reporting history on a sound 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 annual statutory accounts your company prepares for its initial accounting period, covering the period from incorporation to the company's first accounting reference date. They normally include a balance sheet and, where applicable, a profit and loss account, along with the notes and disclosures required by the reporting framework the company uses. Once prepared, they are filed with Companies House where required. Preparing them is a statutory obligation rather than something a new company can defer simply because it has recently been incorporated.

When are first accounts due?

The deadline depends on your company's incorporation date, its accounting reference date and the filing requirements that apply to it, so there is no single date that fits every company. Companies House sets a default accounting reference date when a company is formed, and the first accounts filing deadline is calculated from that. Because the position varies from company to company, it is worth confirming the exact date for your own company rather than relying on a general assumption. We can review your Companies House record and confirm what applies.

What information do you need to prepare first year accounts?

It depends on what the company has done since incorporation, but typically we would look at bank transactions and statements, sales and income records, business expenses, purchase invoices, details of any assets bought, director transactions and loans, share capital information, and payroll or VAT records where the company has them. If the company has been quiet, the information required will be much lighter. You do not need a formal set of management accounts to get started — accurate accounting records and supporting documents are the foundation.

Does a new limited company have to file accounts with Companies House?

In most cases yes, the company's first statutory accounts are delivered to Companies House where the applicable filing requirements apply. This remains the position even where the company has had limited activity or has not yet begun trading. Filing with Companies House does not complete the company's Corporation Tax obligations, which sit with HMRC, and it does not replace a confirmation statement. Companies House also does not approve or verify accounts on a professional or regulatory basis — it receives the filing.

Are first year accounts the same as a CT600?

No. Statutory accounts are delivered to Companies House, whereas a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has a Corporation Tax obligation. The information in the accounts is often used when working out the company's tax position, but the two filings serve different purposes, go to different bodies and can follow different periods. A company's first Corporation Tax accounting period may not line up exactly with the period covered by its first statutory accounts.

Can a new company qualify for micro-entity accounts?

Possibly, but not automatically. Micro-entity status depends on meeting the applicable eligibility requirements for the relevant accounting period, and a newly incorporated company is not a micro-entity by default. Nor does low turnover on its own guarantee eligibility. Where a company does qualify, FRS 105 is the financial reporting standard applicable to qualifying entities using the micro-entity framework, which allows a simplified format. We consider the framework that suits your company's circumstances before preparing anything.

What if the company has not traded yet?

A company can still have statutory filing obligations even where there has been little activity, so a quiet first year does not automatically remove the need to deal with accounts. Whether the position is best described as dormant, or simply a period with no significant transactions, depends on the company's circumstances and the applicable rules rather than being assumed. If your company was formed in Colchester but has not started trading, it is worth checking your reporting position before the deadline passes.

What happens if first year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to consequences from Companies House, and those consequences are not necessarily the same in every case. Late filing penalties are usually calculated according to how late the accounts are, and the position can worsen the longer a filing remains outstanding. Paying a penalty does not remove the requirement to file the accounts. If you are already overdue, or believe there was a valid reason for the delay, the options available depend on the circumstances and the applicable rules — professional support can help you understand what to do next.