─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Glynneath Neath

Your company’s first set of statutory accounts is a milestone, and it is also a legal filing obligation. If you have incorporated a limited company in Glynneath Neath and the end of your first accounting period is approaching, Micro Entity Accounts can help you prepare accurate First Year Accounts for Limited Company purposes and deliver them to Companies House where required. We start by reviewing the accounting records you hold — bank transactions, sales and income records, expenses, asset purchases, director transactions, share capital and any payroll or VAT records that apply — then prepare a balance sheet and, where applicable, a profit and loss account in line with the reporting framework your company qualifies for. If your company also has Corporation Tax obligations, we can support with the information needed for a CT600 submission to HMRC, which is a separate filing with a separate destination from your Companies House 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 302 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
      Posted on Google  
   
   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
      Posted on Google  
   
   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
      Posted on Google  
   
   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
      Posted on Google  
   
   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
      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 .

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 Why Do They Matter?

First year accounts are the first set of annual statutory accounts a newly incorporated limited company prepares for its initial accounting period. They are not optional simply because the company is new. Once a company is registered at Companies House, it has an accounting reference date, and its first accounting period normally runs from the date of incorporation to that reference date — although the first period is often longer or shorter than the twelve months used in later years, depending on the incorporation date and the company’s individual circumstances. The accounts are generally delivered to Companies House where required, and they must be prepared from proper accounting records. The phrase micro company comes into play because some — but not all — newly incorporated companies meet the eligibility criteria for the micro-entity reporting framework. Eligibility depends on factors such as balance sheet total, turnover and employee numbers for the relevant period, so it should be assessed rather than assumed. A qualifying entity typically prepares simpler accounts under FRS 105, the financial reporting standard applicable to entities using the micro-entity framework, while a company that does not qualify may fall under the small company regime or full reporting instead. We confirm the appropriate framework before preparation begins. It is worth being clear about what first year accounts are not. They are not a Corporation Tax Return. A CT600 is submitted separately to HMRC where the company has Corporation Tax obligations, and the company’s first Corporation Tax accounting period may not be identical to its statutory accounts period. They are also not a confirmation statement, which is a separate annual filing that keeps the company’s registered details up to date at Companies House. Preparing and filing first year accounts does not automatically complete any of those other obligations, and company directors remain responsible for making sure each one is met. For directors in Glynneath Neath dealing with their first reporting cycle, the practical steps are straightforward: gather the records, confirm the accounting period and framework, prepare the accounts, and file them with the correct body by the applicable date.

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 Set of Statutory Accounts Prepared Properly

The first accounting period often raises more questions than any other: which framework applies, whether the company has traded, what records are actually needed, and what has to go to Companies House versus HMRC. Micro Entity Accounts works with newly incorporated limited companies and their directors across Glynneath Neath, helping to make sense of those questions before the accounts are prepared. We assess the reporting framework your company qualifies for, work through your accounting records, prepare the statutory accounts and support with Companies House filing where required, with clear pricing and no hidden costs. If you would rather have experienced support handling your first-year accounts than working it out from scratch, get in touch and we will talk through your company’s position.

─── 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 prepared for a company's initial accounting period, normally running from the date of incorporation to the company's first accounting reference date. They include a balance sheet and, where applicable, a profit and loss account, along with the supporting notes required by the reporting framework the company uses. They are prepared from the company's accounting records and are generally filed with Companies House where required.

When are first year accounts due?

The deadline depends on the company's incorporation date and accounting reference date, so it is not the same for every company. The first accounting period can be longer or shorter than twelve months, which affects when the accounts fall due. Rather than relying on a general rule of thumb, it is worth checking the specific dates attached to your company, and we can help you confirm the position for your first period.

What information is needed to prepare first year accounts?

Broadly, anything that shows what the company has done financially since incorporation: bank statements and transactions, sales and income records, purchase invoices and expenses, asset purchases, share capital details, director loan movements, and payroll or VAT records if those apply. Companies with limited or no activity in the period will usually need less, but the position still needs to be confirmed rather than assumed. If you are unsure what is relevant, we can review what you hold.

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

In most cases, yes. Incorporating a company brings with it statutory accounts filing obligations, and those obligations do not disappear simply because the company is new or has traded very little. Where a company has had no significant accounting transactions, its reporting position depends on its specific circumstances and the applicable rules — it is not automatically treated as dormant. Directors in Glynneath Neath and elsewhere remain responsible for ensuring the required filings are made.

Are first year accounts the same as a CT600?

No. Statutory accounts are delivered to Companies House where required, while a CT600 Corporation Tax Return is submitted separately to HMRC where the company has Corporation Tax obligations. The two filings have different purposes and different destinations. Figures from the accounts are often used when preparing the company's Corporation Tax position, but filing one does not complete the other, and the company's first Corporation Tax accounting period may not match its statutory accounts period exactly.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies do qualify, but not all of them. Eligibility depends on meeting the applicable thresholds and conditions for the relevant accounting period, so it needs to be assessed on the company's own figures and circumstances. A qualifying company may prepare simpler accounts under FRS 105, while a company that does not qualify may use the small company regime or full reporting. We confirm the correct framework before preparing anything.

Do first year accounts replace the confirmation statement?

No, they are entirely separate. The confirmation statement is an annual filing that confirms the company's registered information at Companies House, while first year accounts report the company's financial position for its initial period. Filing accounts does not satisfy the confirmation statement requirement, and filing a confirmation statement does not satisfy the accounts requirement. Both may need to be dealt with, along with any Corporation Tax obligations.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to consequences from Companies House, and the outcome can vary depending on how late the filing is and the company's circumstances. Paying any penalty does not remove the requirement to file the outstanding accounts. If accounts are already overdue, the priority is to get them prepared and delivered as quickly as possible, and we can assist with that.