─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Paignton — Prepared and Filed with Professional Support

A company’s first set of statutory accounts is one of the earliest formal milestones after incorporation, and it tends to arrive sooner than many directors expect. These accounts cover the company’s initial accounting period, and they need to be prepared properly and delivered to Companies House where required. Micro Entity Accounts works with newly incorporated and newly trading limited companies in Paignton to prepare those first-year accounts, review the supporting accounting records, and complete the filing. We also help directors understand which reporting framework is likely to apply, and where a Corporation Tax Return such as a CT600 is due, we can support that as a separate submission to HMRC alongside the accounts work.

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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 When Does the Framework Apply?

First-year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. They are not optional, and a recent incorporation date does not remove the obligation. Broadly, the first accounting period begins on the date of incorporation and ends on the company’s first accounting reference date, although the exact dates depend on when the company was incorporated, how its accounting reference date has been set, and whether it has been changed since. The first period can be longer or shorter than a typical twelve-month year, so it is worth confirming the correct dates before any preparation work starts. An eligible company may be able to prepare its accounts under the micro-entity framework, which uses the financial reporting standard FRS 105. Eligibility depends on meeting the applicable criteria for the relevant accounting period and is assessed separately. A newly incorporated company is not automatically a micro-entity, a company with modest turnover does not automatically qualify, and FRS 105 does not apply to every small company. Where the micro-entity framework is available, the accounts are usually shorter and simpler, often built around a balance sheet with limited notes, but the figures still need to be accurate and properly supported by the company’s accounting records. In practice, the process for directors in Paignton tends to follow the same path: gather the records for the period, prepare a balance sheet and, where applicable, a profit and loss account, review the position with the directors, and deliver the accounts to Companies House where required. This is separate from the company’s Corporation Tax position. A limited company may also need to submit a Corporation Tax Return such as a CT600 to HMRC, and the first Corporation Tax accounting period does not always match the statutory accounts period. A confirmation statement is a further, separate filing. Delivering first-year accounts does not complete those other obligations, and it does not mean Companies House or HMRC has approved the accounts in any professional or regulatory sense.

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 Paignton Prepared Correctly

Many directors incorporate a company, get on with running it, and only later realise that the first statutory accounts are approaching along with questions about accounting records, the reporting framework, and what actually needs to go to Companies House. If that sounds familiar, Micro Entity Accounts can help. We prepare and review first-year accounts for eligible limited companies, work through the figures with you, and handle the Companies House filing where it is required, while keeping the separate Corporation Tax, confirmation statement and record-keeping matters clearly distinguished. Whether your records are tidy or still coming together, it is worth involving an accountant early rather than leaving the first set of accounts until the pressure builds.

─── 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 first set of statutory accounts a company prepares for its initial accounting period. They usually cover the period from incorporation to the company's first accounting reference date, although the exact dates depend on the incorporation date and how the accounting reference date has been set. The accounts set out the company's financial position at the period end and, where applicable, its performance for the period. They are prepared for the directors and filed at Companies House where required. They are separate from any Corporation Tax Return.

When are first-year accounts due?

The filing date depends on several factors, including the company's incorporation date, its accounting reference date, and whether that date has been changed. The filing window for a company's first accounts is not necessarily the same as for later years, so it is worth checking the company's record at Companies House rather than assuming a standard twelve-month cycle. If you are unsure which period applies to your company, we can review the dates and confirm what needs to be prepared and when it should be delivered.

What information do you need to prepare first-year accounts?

It varies from company to company, but typically we would look at bank transactions for the period, sales or income records, business expenses and purchase invoices, details of any assets bought, director transactions and loans, share capital information, and any finance or leasing arrangements. If the company has run payroll, PAYE records are relevant, and VAT records matter where the company is registered. Not every company will have all of these items, and if records are incomplete or held in different places, we can help pull them together into a workable set of figures.

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

In most cases, yes, where filing is required under the applicable rules, and a recent incorporation does not remove that obligation. A company may still have statutory filing responsibilities even where it has had limited activity or has not yet started trading. Where there have been no significant accounting transactions, the correct reporting position depends on the company's specific circumstances and the applicable rules rather than being automatically treated as dormant. Corporation Tax obligations, where they apply, are dealt with separately with HMRC.

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

No, they are different filings with different destinations. Statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. The two are connected in the sense that the figures in the accounts often inform the tax position, but filing one does not complete the other. It is also possible for the company's first Corporation Tax accounting period to differ from its statutory accounts period, so both sets of dates are worth checking.

Can a new limited company qualify for micro-entity accounts?

Some newly incorporated companies may qualify to prepare accounts under the micro-entity framework if they meet the applicable eligibility criteria for the relevant accounting period. It is not automatic, and a low turnover figure on its own does not guarantee eligibility. FRS 105 is the financial reporting standard used by qualifying entities within that framework. During preparation we look at the company's circumstances and confirm which framework appears appropriate before the accounts are finalised.

Do first-year accounts replace the confirmation statement?

No. A confirmation statement is a separate filing, and delivering first-year accounts to Companies House does not take its place. A limited company may still need to submit confirmation statements and keep its registered details, directors, shareholders and share information up to date at Companies House. Directors in Paignton often deal with both in the same period, so it helps to keep the two obligations distinct and diarised separately.

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 late filing penalties may apply depending on how overdue the accounts are and the rules in force at the time. Paying a penalty does not remove the requirement to file the outstanding accounts, and the accounts still need to be prepared and delivered. Whether an appeal is possible depends on the circumstances and the applicable rules. If your company is already overdue, the priority is to get accurate accounts prepared and filed as soon as possible.