─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Penzance, Prepared and Filed with Professional Support

A company’s first year end arrives sooner than most directors expect, and the accounts prepared for that initial period shape how the company’s early position is recorded. Micro Entity Accounts supports newly incorporated and newly trading limited companies in Penzance with First Year Accounts for Limited Company work: preparing the statutory accounts, reviewing the accounting records they are built from, and delivering them to Companies House where required. We look at what has actually happened in the period, explain which reporting framework fits the company’s circumstances, and make sure the balance sheet — and the profit and loss account where the framework requires one — tells an accurate story. Where a Corporation Tax Return such as a CT600 is also due, we help directors understand that this is a separate submission made to HMRC, not part of the Companies House filing. Responsibility for compliance stays with the directors, but the first accounting period does not have to be tackled alone.

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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 Does Your New Limited Company Qualify?

First-year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. They are not a formality that can be left until later, and they are not optional simply because the company has only recently been incorporated. Once a company is registered, it has an accounting reference date, and that date — alongside the incorporation date — determines how the first accounting period runs and what the filing position looks like afterwards. The first period normally starts on the date of incorporation and ends on the company’s first accounting reference date. Because Companies House can treat an initial period differently from later ones, directors should check the specific dates that apply to their own company rather than assuming everything follows the standard twelve-month pattern. What goes into the accounts depends on the framework the company uses. Most sets include a balance sheet, and where the applicable framework requires it, a profit and loss account and supporting notes. Directors also need to consider the statement confirming the accounts have been prepared in accordance with the relevant framework. Some companies qualify as micro-entities and can report under the micro-entity framework, for which FRS 105 is the standard applicable to qualifying entities. Others may fall within the small company regime instead, while a company with more substantial activity may not qualify for either. Eligibility is assessed against the applicable requirements for the accounting period in question, so it is not something to assume automatically — a newly incorporated company in Penzance may qualify, or it may not. It is equally important to separate first-year statutory accounts from the company’s other obligations. Statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted separately to HMRC where the company has Corporation Tax obligations, and the company’s first Corporation Tax accounting period will not necessarily match its statutory accounts period. A confirmation statement is a further, distinct filing that keeps the public register up to date. None of these replaces another.

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 Penzance — Get the Preparation and Filing Support You Need

First accounting periods rarely look the way directors expect. The company may have been incorporated partway through the year, activity may have been minimal, or it may be unclear whether the micro-entity framework applies at all. Micro Entity Accounts works with directors of newly incorporated limited companies in Penzance on exactly these questions — reviewing the accounting records, preparing the first set of statutory accounts and handling the Companies House filing where it is required, while keeping the separate Corporation Tax position with HMRC clearly in view. Support is provided on a fixed-fee basis with clear pricing and no hidden costs, and the process is explained in plain terms at each stage. If your first year end is approaching, or has already passed, speaking to someone who deals with first-year accounts regularly is a sensible next step.

─── 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 statutory accounts a company prepares for its initial accounting period, covering the period from incorporation to the company's first accounting reference date. Depending on the framework that applies, they will usually include a balance sheet and may also include a profit and loss account and notes. They are a formal filing requirement where applicable, not an internal summary.

How is the first accounting period and filing deadline worked out?

The first accounting reference date is normally set by reference to the anniversary of incorporation rather than being fixed on the day the company is registered. The filing deadline is then calculated from that date. Because the first period can differ from later ones, directors should confirm the exact dates that apply to their own company instead of assuming a standard twelve-month cycle.

What information is needed to prepare first-year accounts?

Usually the company's accounting records for the period: bank transactions, sales and income records, purchase invoices and business expenses, details of any assets purchased, director transactions and loans, share capital information, and payroll or VAT records where those apply. Companies that have had little activity will simply have fewer records to supply. The starting point is a conversation about what the company has actually done.

Does a newly incorporated company have to file accounts with Companies House if it has not traded?

Statutory filing obligations can still apply even where a company has had limited or no activity. A company with no significant accounting transactions may be able to file dormant accounts in certain circumstances, but that depends on whether it meets the applicable criteria and should not be assumed. Directors in Penzance who are unsure of their position are better off checking it early.

Are first-year accounts the same as a CT600?

No. Statutory accounts are filed with 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. Information from the accounts often feeds into the tax return, but the two serve different purposes, go to different bodies, and may cover different accounting periods.

Do first-year accounts replace the confirmation statement?

They do not. A confirmation statement is a separate filing that confirms the company's registered details are up to date on the public register. Filing first-year statutory accounts does not satisfy that requirement, and submitting a confirmation statement does not complete the company's accounts filing obligations.

Can a new company qualify for micro-entity accounts or FRS 105?

Some companies do qualify as micro-entities and can use the micro-entity framework, with FRS 105 applying to qualifying entities. Qualification depends on the eligibility requirements for the relevant accounting period, so it is assessed case by case. A newly incorporated company is not automatically a micro-entity, and FRS 105 does not apply to every new limited company.

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 depends on the circumstances and how overdue the filing is. Paying any penalty does not remove the requirement to file the outstanding accounts. If a company is already late, the priority is to get the accounts prepared and delivered.