─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Penarth, Prepared and Filed With Professional Support

Your company’s first set of statutory accounts is a milestone, and it is also a formal filing obligation. Micro Entity Accounts works with newly incorporated and newly trading limited companies in Penarth to prepare first year accounts from the accounting records you hold, review the figures before anything is submitted, and help deliver the accounts to Companies House where required. Where a company also has Corporation Tax obligations, we can help you understand how that side of compliance fits together, including how a CT600 is dealt with separately through HMRC. From the first accounting period through to the filing stage, you get clear explanations of what is needed, what has been done and what remains outstanding.

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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 Which Reporting Framework Applies?

First year accounts are the initial set of statutory accounts a limited company prepares for its first accounting period. They are not optional and they are not simply a formality because the company is new: once a company is incorporated, it has reporting responsibilities, and the first accounting period is the one that runs from incorporation (or from the date the accounting reference date framework applies) up to the company’s first accounting reference date. The length of that first period can vary from company to company, which is why it makes sense to check the specific dates that apply to your company rather than assuming a standard twelve months. The accounts themselves generally 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. Because a first accounting period often covers a period in which the company was still finding its feet, the accounts may look modest — but they still need to be prepared accurately and consistently with the underlying accounting records. Some companies may qualify for the micro-entity framework, which is the simplified regime available to entities that meet the applicable eligibility conditions for the accounting period in question. Where a company qualifies, FRS 105 — the financial reporting standard for entities using the micro-entity framework — may be used. Not every new limited company will qualify, and a company with low activity does not automatically fall into the micro-entity category. Eligibility depends on the company’s circumstances and the relevant period, and the appropriate framework should be confirmed before the accounts are prepared. It is important to separate first year accounts from other compliance tasks. Statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, and the first Corporation Tax accounting period is not always identical to the statutory accounts period. A confirmation statement is a separate Companies House filing that confirms the company’s registered information. Filing accounts does not complete a CT600, and filing a CT600 does not complete the accounts filing. Each has its own purpose, its own destination and its own requirements.

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.

Let Us Prepare Your First Year Accounts for Limited Company in Penarth Accurately and on Time

If your first accounting period is approaching and you are unsure which figures belong in the accounts, how your records should be presented, or what needs to go to Companies House, that uncertainty is worth resolving early. Micro Entity Accounts can work with you to prepare your first year accounts from your bookkeeping and supporting documents, review the result with you, and assist with filing where required. We will also explain how the accounts relate to your separate Corporation Tax position, so you know which obligation is which. Get in touch with Micro Entity Accounts before your first filing date arrives, while there is still time to deal with records, questions and missing information calmly.

─── 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 annual accounts a limited company prepares. They cover the company's initial accounting period, which normally begins on incorporation, and they are prepared from the company's accounting records. Depending on the reporting framework the company uses, they will generally include a balance sheet and, where applicable, a profit and loss account, plus the required notes and disclosures. They are a statutory obligation rather than an optional exercise, even where the company has had limited activity.

When are first accounts due to be filed at Companies House?

The deadline depends on the company's incorporation date and its accounting reference date, so it is not the same for every company. The first accounting period may be longer or shorter than a standard twelve-month period, and Companies House provides the confirmed dates for your company. Rather than relying on a general rule, check the specific filing date attached to your company's records, and consider working backwards from that date so the accounts are prepared well before it arrives.

What information is needed to prepare first year accounts?

It depends on what your company has done, but commonly useful records include bank statements and transaction listings, sales and income records, purchase invoices and business expenses, details of any assets bought, share capital information, director loan balances, and any finance or loan agreements. If the company runs payroll or is VAT registered, those records will usually be relevant too. If a company has had very little activity, the records needed will be far fewer, but the accounts still need to reflect the company's position correctly.

Does a company that has not started trading still have to file first year accounts?

In many cases yes, although the exact position depends on the company's circumstances and the applicable rules. A company that has not yet started trading may still have statutory filing obligations, which is why it is worth checking before assuming nothing is required. If a company has had no significant accounting transactions, its reporting position is a separate question from whether it should be treated as dormant, and that should be assessed on the facts rather than assumed.

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

No. They are separate filings with separate purposes. Statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where the company has Corporation Tax obligations, and it is based on the company's tax position rather than its Companies House filing. The accounting figures may inform the tax return, and the first Corporation Tax accounting period may not match the statutory accounts period, but one filing does not complete the other.

Can a newly incorporated limited company file micro-entity accounts under FRS 105?

Possibly, but not automatically. FRS 105 is the financial reporting standard used by qualifying entities within the micro-entity framework, and eligibility has to be assessed against the applicable requirements for the relevant accounting period. A new company with modest figures may qualify, but turnover alone does not decide it, and not every startup or small company will meet the criteria. The right framework should be confirmed before the accounts are prepared so the disclosures and presentation are correct.

Is a confirmation statement part of my first year accounts?

No. A confirmation statement is a separate Companies House filing that confirms details such as the company's officers, registered office and share information. Filing first year accounts does not replace it, and submitting a confirmation statement does not satisfy the accounts filing requirement. Newly incorporated companies in Penarth often have both obligations running alongside each other, so it helps to track them as distinct compliance tasks.

What happens if first year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to Companies House consequences, which may include penalties depending on the circumstances and how late the filing is. The amount and treatment are not identical in every case, and paying a penalty does not remove the need to file the outstanding accounts. If the accounts are already overdue, the priority is to prepare and file them promptly, then consider whether an appeal is appropriate given the specific reasons for the delay.