─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Stornoway, Prepared With Professional Support

Your first set of statutory accounts is one of the earliest compliance milestones for a newly incorporated company, and it deserves more attention than a last-minute scramble before a deadline. We help limited companies in Stornoway prepare their First Year Accounts for Limited Company purposes properly — reviewing bank transactions, invoices and supporting records, agreeing the reporting framework that fits your circumstances, and delivering the accounts to Companies House where required. Alongside that, we explain how the accounts relate to separate obligations such as a Corporation Tax Return or CT600 submitted to HMRC, so you know which filing goes where.

🔥 SAVE £100.00

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 300 reviews 
    
 
 
 
   
 
 
       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 .
  
 
      Posted on Google  
   
   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
      Posted on Google  
   
   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
      Posted on Google  
   
   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

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, and Does a New Company Qualify as a Micro Company?

First-year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. That period usually begins on the date of incorporation and runs to the company’s first accounting reference date, which Companies House sets when the company is formed. Because of how that date falls, a first accounting period can be longer than the twelve months a company will normally report on in later years, so the first set of accounts is often different in shape from the annual accounts that follow. Every limited company — whether it has been trading actively, has only recently begun, or has had very little activity — should consider its statutory accounts position. Filing obligations are not switched off simply because a company is new, and a newly formed company in Stornoway that has not yet invoiced a customer may still need to prepare and deliver accounts. Where a company has had no significant accounting transactions, its reporting position depends on its own circumstances and the applicable rules; it is not automatically treated as dormant. The accounts are built from the company’s accounting records. Depending on the business, that can include bank transactions, sales and income records, purchase invoices, expense receipts, asset purchases, share capital details, loans and director transactions. The output typically includes a balance sheet and, where applicable, a profit and loss account, prepared under the reporting framework that fits the company. Some companies qualify for simplified reporting. If a company meets the eligibility requirements for the relevant accounting period, it may be able to prepare micro-entity accounts under FRS 105, or small company accounts under the small companies regime. Eligibility is not automatic for every new company, every startup or every company with modest turnover, so the position has to be checked for your company and the period in question before the framework is chosen. It also helps to keep the separate filings straight. First-year statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is a separate submission to HMRC governed by its own rules, and a company’s first Corporation Tax accounting period may not be identical to the period covered by its statutory accounts. A confirmation statement is a further, separate filing. Completing one does not complete the others, which is why many directors in Stornoway prefer to have accounts preparation and filing handled together, with a clear view of what is due and when.

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 Stornoway Prepared Correctly

The first set of accounts is often where directors discover how much depends on getting the accounting records, the reporting framework and the Companies House filing right. If you are unsure whether your company qualifies for micro-entity accounts, which figures belong in the balance sheet, or how the accounts sit alongside a separate Corporation Tax Return for HMRC, Micro Entity Accounts can help. We prepare and review first-year accounts for limited companies, explain what is required in straightforward terms, and support you through filing with Companies House where required — with clear pricing and no hidden costs.

─── 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 after incorporation, covering its initial accounting period — normally from the incorporation date to the company's first accounting reference date. They are not optional simply because the company is new. They differ from later annual accounts mainly in the period they cover, which can be longer than a standard twelve months, and in the fact that a first set of accounts may not include comparatives depending on the circumstances. Once prepared, they are delivered to Companies House where required.

When are first accounts due?

There is no single date that applies to every company. The accounting reference date is set when the company is incorporated, and Companies House determines the filing deadline by reference to that date and the applicable requirements. A company incorporated in Stornoway at one point in the year will not necessarily share the same deadline as one incorporated later. Because the first accounting period often runs from the incorporation date, it can be longer than a normal year. The practical approach is to confirm the company's own position from its Companies House record and start preparing the accounts well before the deadline rather than close to it.

What information is needed to prepare first-year accounts?

It depends on what the company has actually done. Typical records include bank statements and transactions, sales invoices and income records, purchase invoices and business expenses, details of assets purchased, share capital information, and director loans or other financing. Payroll records are relevant where the company has employees, and VAT records where it is registered. If activity has been limited, the records needed will be correspondingly simpler. Keeping bookkeeping up to date through the year makes preparation quicker and reduces queries at the year end.

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

Generally, yes. The statutory accounts obligation arises from incorporation and the applicable Companies House requirements, not from whether the company has started trading or made a profit. Where a company has had no significant accounting transactions, its reporting position depends on its circumstances and the applicable rules rather than being an automatic exemption, and it should not be assumed to be dormant without checking. If you are unsure where your company stands, it is worth confirming the position before deciding that nothing needs to be filed.

Are first-year accounts the same as a CT600?

No. First-year statutory accounts are prepared for the company and filed with Companies House where required. A Corporation Tax Return, often submitted as a CT600, goes separately to HMRC where the company has Corporation Tax obligations. The figures in the accounts are usually a starting point when the tax position is prepared, but the two documents have different purposes, different destinations and their own timelines. Filing the accounts does not automatically submit a CT600, and filing a CT600 does not complete the Companies House accounts filing.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies do qualify for the micro-entity framework, which allows simplified accounts prepared under FRS 105. Eligibility is not automatic, however — it depends on the company's circumstances for the relevant accounting period, so a new company, a startup or a company with low turnover does not qualify by default. We check whether the micro-entity or small company framework is appropriate before the accounts are prepared, and prepare them on the basis that fits.

Do first-year accounts replace the confirmation statement?

No. A confirmation statement is a separate filing that keeps the company's information at Companies House up to date, and it is not replaced by the statutory accounts, nor do the accounts remove the need for it. A company may need to deal with both, as well as any Corporation Tax obligations, and each has its own requirements. Keeping the company's records and filings in order together avoids gaps later.

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 those consequences are not identical in every case. Paying any penalty that arises does not remove the requirement to file the outstanding accounts, so the priority is to get the position brought up to date. Where an appeal might be appropriate, eligibility depends on the circumstances and the applicable rules. If a deadline has been missed, it is best to seek advice quickly rather than wait.