─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Purley, Prepared by People Who Do This Every Day

A company’s very first set of statutory accounts is different from the ones that follow, and getting the first accounting period right makes every later year simpler. Micro Entity Accounts supports newly incorporated and newly trading limited companies in Purley with the preparation of their first-year accounts — reviewing the accounting records you hold, building the balance sheet and, where applicable, the profit and loss account, and helping with the delivery of those accounts to Companies House where required. If your company also has Corporation Tax obligations, the CT600 and its submission to HMRC are handled as a separate matter, because the two filings serve different purposes and go to different bodies.

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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 annual statutory accounts a limited company prepares for its initial accounting period. That period normally begins on the date of incorporation and runs to the company’s first accounting reference date, although Companies House may treat the first period slightly differently from later ones. Those accounts are generally delivered to Companies House where required, and they are separate from the company’s other compliance tasks — a Corporation Tax Return such as a CT600 goes to HMRC, and a confirmation statement is a separate filing that keeps the public register up to date. One does not replace another. Some newly incorporated companies are eligible to prepare accounts under the micro-entity framework, which is set out in FRS 105, the financial reporting standard applicable to qualifying entities using that framework. Micro-entity reporting is a simplified format, but eligibility is not automatic and is not decided simply by how new the company is. It depends on whether the company meets the applicable thresholds and conditions for the accounting period in question, and on its individual circumstances. A company that does not qualify may still be able to report as a small company, while others will need to prepare accounts on a fuller basis. As part of preparing first-year accounts for companies in Purley, we look at which framework applies before any figures are drafted, so the accounts are structured correctly from the start. The information behind the accounts matters as much as the format. Bank transactions, sales and income records, purchase invoices, business expenses, asset purchases, share capital details, director transactions, loans and any payroll or VAT records where relevant all feed into the picture. Not every company will have all of these — a company with very limited activity in its first period may have a much shorter list — and where there have been few or no significant transactions, the reporting position depends on the specific circumstances and the applicable rules rather than being automatically treated as dormant. Directors remain responsible for making sure the company meets its statutory obligations, even when an accountant prepares and files the accounts on its behalf.

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 Purley Prepared Accurately and Filed on Time

The first accounting period is often the point where directors realise they are not fully sure what is expected of them — which records to keep, which reporting framework applies, what actually has to go to Companies House, and how that sits alongside anything owed to HMRC. Micro Entity Accounts can take that uncertainty off your plate by preparing your first-year accounts, checking the figures against the records you hold, and supporting you through the filing process where required. If you run a newly incorporated limited company in Purley and want your first set of statutory accounts handled properly the first time, talk to us about how we can help.

─── 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 a company prepares, covering its initial accounting period. That period usually starts on the date of incorporation and ends on the company's first accounting reference date, which is set when the company is registered. The accounts typically include a balance sheet and, where applicable, a profit and loss account, together with the notes required by the reporting framework the company uses.

When do first accounts have to be filed at Companies House?

The deadline depends on the company's incorporation date, its accounting reference date and the applicable Companies House requirements. Companies House generally allows a longer period for a company's first accounts than for later years, but the exact date is specific to each company rather than fixed for everyone. It is worth confirming your own deadline from your company's records at Companies House rather than assuming a standard period applies.

What information is needed to prepare first-year accounts?

Usually the company's bank transactions, income and sales records, purchase invoices and expenses, details of any assets bought, share capital information, any director loans or transactions, and supporting documents. Where the company runs payroll or is VAT registered, those records are relevant too. A company with limited activity in its first period will need far less, and we work with whatever is available to build an accurate picture.

Do new limited companies have to file accounts with Companies House?

In most cases yes, and the obligation is not removed simply because the company was only recently incorporated or has not started trading yet. Where a company has had no significant accounting transactions, its reporting position depends on its circumstances and the applicable rules rather than being automatically treated as dormant. Filing first-year accounts is also not the same as submitting a Corporation Tax Return — the CT600 goes to HMRC where applicable, while the statutory accounts are delivered to Companies House where required.

Are first-year accounts the same as a CT600?

No. The statutory accounts are prepared under company law and delivered to Companies House, while a Corporation Tax Return such as a CT600 is submitted to HMRC. The figures in the accounts are often used when working out the company's tax position, but the two filings have different purposes and destinations. A company's first Corporation Tax accounting period and its statutory accounts period may not necessarily be identical either.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies do qualify for the micro-entity framework, and FRS 105 is the standard that applies to qualifying entities using it. However, eligibility is not automatic and does not follow from the company being new or from turnover alone. It depends on whether the company meets the applicable conditions for the relevant accounting period, so the correct framework needs to be confirmed before the accounts are drafted.

Do first-year accounts include a confirmation statement?

No — these are separate requirements. The confirmation statement is a filing that confirms the information Companies House holds about the company is up to date, and it does not replace the annual accounts. A company in Purley may still need to submit a confirmation statement during its first year, and filing the accounts does not complete that obligation.

What happens if first-year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to Companies House consequences, and the outcome depends on how late the filing is and the company's filing history. Paying any penalty does not remove the requirement to file the outstanding accounts. Where an appeal is considered, eligibility depends on the circumstances and the applicable rules, which is why it is better to address a missed deadline with professional help rather than ignore it.