─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Stretton, Prepared and Filed Properly

The first set of statutory accounts a limited company produces often arrives sooner than directors expect, and it comes with its own quirks around accounting periods, disclosure requirements and Companies House filing. Micro Entity Accounts supports newly incorporated and newly trading limited companies in Stretton with the preparation of those first-year accounts, from reviewing the accounting records and share capital details through to drafting a balance sheet, a profit and loss account where applicable, and the supporting notes. Where the company must deliver accounts to Companies House, we can prepare and file them. If Corporation Tax is also in point, that sits with HMRC and is handled separately through a Company Tax Return such as a CT600, using figures drawn from the same underlying records but submitted to a different authority with its own requirements.

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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 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 for a Micro Company, and How Do They Work?

First-year accounts are the first set of annual statutory accounts a limited company prepares after incorporation. They cover the company’s initial accounting period and are drawn up under the Companies Act reporting requirements that apply to the entity. Unlike later years, the first period is not automatically twelve months long: it usually runs from the date of incorporation to the company’s first accounting reference date, which is why a first set of accounts can cover a shorter or longer stretch than directors anticipate. Companies House sets that first accounting reference date from the incorporation date, and the period can be adjusted in certain circumstances, so confirming the position early is worthwhile. The accounts themselves normally comprise a balance sheet, notes to the accounts and, depending on the framework used, a profit and loss account and directors’ report. A first set of accounts will typically reflect share capital issued on incorporation, any director’s loan movements, bank balances, income and expenses recorded to date, and any assets purchased by the company. Some companies are eligible to report as micro-entities under the micro-entity accounting framework, using FRS 105, the financial reporting standard applicable to qualifying entities. Eligibility depends on meeting the applicable criteria for the relevant accounting period, and it is not automatic simply because a company is new, small or has limited activity. Other companies will fall into the small companies regime, and some will need to report under a fuller framework. The right approach is decided on the company’s own circumstances. It also helps to keep three separate obligations distinct. First-year statutory accounts are delivered to Companies House where required. A Company Tax Return, such as a CT600, is submitted to HMRC where the company has Corporation Tax obligations, and the first Corporation Tax accounting period does not always match the statutory accounts period. A confirmation statement is a further, separate filing that keeps the public register up to date. Filing accounts does not discharge either of the other two, which is why many limited companies in Stretton deal with all three as part of their first year of trading.

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 Stretton Prepared Accurately

If your company has recently been incorporated in Stretton, the chances are you are still working out what the first set of statutory accounts needs to include, which reporting framework applies, and what has to go to Companies House. Micro Entity Accounts can help you work through that: we review your accounting records, confirm the accounting period and reference date, prepare the accounts under the appropriate framework, and file them where required. Directors remain responsible for the company’s statutory obligations, and our role is to make the preparation and filing process clear, accurate and properly supported from the outset. If you would rather not leave your first accounts until the filing deadline is close, get in touch and we will take it from there.

─── 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 produces after incorporation, covering its initial accounting period. They are prepared under the Companies Act requirements applicable to the company and normally include a balance sheet with notes, plus a profit and loss account and directors' report where the relevant framework requires them. Because the period starts on the incorporation date, it does not always run for a full twelve months.

How is the first accounting period of a new company worked out?

Companies House sets a first accounting reference date based on the date of incorporation, and the company's first accounting period generally runs from incorporation to that date. Depending on when in the month the company was incorporated and whether the period has been changed, the length can vary from company to company. It is worth confirming the exact dates on the public register rather than assuming a standard twelve-month period, and we can check this as part of preparing the accounts.

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

In most cases, yes. A limited company incorporated in England and Wales is generally required to deliver annual accounts to Companies House for each financial year, including its first. That obligation is not removed because trade has been limited or has not yet begun, although what the accounts contain will reflect the company's actual activity. If your company has had little or no activity, its reporting position should be reviewed on its own facts rather than assumed to be dormant.

What information is needed to prepare first-year accounts?

The records used depend on what the company has actually done. Commonly needed items include bank statements and transaction listings, sales and income records, purchase invoices and expense receipts, details of any assets bought, director's loan movements, share capital information issued at incorporation, and any loans or finance arrangements. Payroll and VAT records are relevant where the company operates PAYE or is registered for VAT. Directors based in Stretton can send records digitally, and we will tell you what is missing before preparation begins.

Can a newly incorporated company file micro-entity accounts?

It may be able to, but eligibility is not automatic. The micro-entity framework, and FRS 105 as the standard applicable to qualifying entities, applies only where the company meets the applicable criteria for the relevant accounting period. A small or newly formed company does not qualify simply because it has low turnover or few transactions. We assess the company against those criteria and prepare the accounts under the framework that fits, which may be the small companies regime instead.

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

No. They are separate filings with separate destinations and purposes. Statutory accounts are delivered to Companies House where required, while a Company Tax Return such as a CT600 is submitted to HMRC where the company has Corporation Tax obligations. The figures in the accounts often inform the tax return, but filing one does not complete the other, and the first Corporation Tax accounting period may not line up exactly with the statutory accounts period.

Does filing first-year accounts take care of the confirmation statement?

No. A confirmation statement is a separate filing that confirms the company's registered details, such as its officers, registered office and share information, are correct. Submitting accounts does not replace it, and the two can fall due at different times. A Stretton company director should keep both obligations on the compliance calendar along with any VAT or payroll duties that apply.

What happens if first-year accounts are filed late?

Failing to deliver accounts to Companies House by the applicable deadline can lead to consequences, which vary depending on how late the filing is and the company's filing history. Paying any penalty that arises does not remove the requirement to file the outstanding accounts. If accounts are already overdue, the priority is to prepare and submit them, and any appeal against a penalty depends on the circumstances and the applicable rules.