─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

Getting your first set of statutory accounts right matters more than most new directors expect, because it sets the tone for every filing that follows. We prepare First Year Accounts for Limited Company clients across Thornton Heath, working from the accounting records you hold to produce a balance sheet and, where applicable, a profit and loss account that properly reflect the company’s position for its first accounting period. We then assist with delivering those accounts to Companies House where required, in line with the applicable filing requirements for the company. If the company also has Corporation Tax obligations, a CT600 and any supporting computations are handled separately with HMRC, since the accounts filing and the tax return 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 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? A Guide for Thornton Heath Directors

First year accounts are the very first set of statutory annual accounts a limited company prepares. They cover the company’s initial accounting period, which normally begins on the date of incorporation and ends on the company’s first accounting reference date. That opening period can be longer than twelve months, which is one reason it is often treated differently from the annual accounts that follow. Statutory accounts are generally delivered to Companies House where required, and they are a legal obligation rather than an optional exercise — a company cannot simply set them aside because it is newly formed, has traded only lightly, or has not yet begun trading. Where a company meets the eligibility conditions for the relevant accounting period, it may be able to report under the micro-entity framework, and FRS 105 is the financial reporting standard that applies to qualifying entities using that framework. Eligibility is not automatic and does not follow simply from being newly incorporated or from having modest activity; the appropriate framework depends on the company’s size and circumstances for that period. Where micro-entity or small company reporting is not available, the accounts would be prepared on a fuller basis instead, so the framework should be confirmed before preparation begins. Putting the accounts together usually means reviewing the company’s accounting records — bank transactions, sales and income, business expenses and purchase invoices, asset purchases, share capital details, director transactions and any loans or finance arrangements — and using them to build a balance sheet and, where applicable, a profit and loss account. Directors remain responsible for the accuracy of those records and for making sure the company meets its filing obligations, even when an accountant carries out the preparation and submission. It is worth being clear about what first year accounts are not. They are not a Corporation Tax Return: a CT600 is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period may not be identical to the period covered by its statutory accounts. They are also not a confirmation statement, which is a separate filing that keeps Companies House updated on company details. Completing one does not discharge the others, so directors in Thornton Heath should treat each obligation on its own terms and keep track of what is actually due.

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.

Expert Help With First Year Accounts for Limited Company in Thornton Heath

If your first accounting reference date is approaching and you are unsure what the accounts should include, which reporting framework applies, or what actually has to be sent to Companies House, that uncertainty is one of the most common things we hear from newly incorporated companies in Thornton Heath. Micro Entity Accounts can review your records, prepare your First Year Accounts for Limited Company filing purposes and assist with submission where required, so the figures are consistent and the disclosures suit your circumstances. Where Corporation Tax is also in point, we can help you see how that separate HMRC filing sits alongside the accounts rather than being confused with them. Getting a professional eye on the first set of accounts is usually far easier than correcting assumptions later.

─── 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?

Every limited company has to prepare statutory accounts for each accounting period, and the first set is known as the first year accounts. They cover the period from incorporation through to the company's first accounting reference date and typically include a balance sheet, together with a profit and loss account where the applicable framework calls for one, plus any required notes and statements. They are prepared from the company's accounting records and are generally filed at Companies House where required.

When do first year accounts need to be filed?

The date your first accounts are due depends on your incorporation date and your company's accounting reference date rather than on one fixed rule that applies to every company. Companies House treats a company's first accounts separately from later years, and the filing window for a first period is usually longer than for subsequent periods. Because the calculation is specific to each company, it is worth confirming your own due date early instead of working from an assumption.

What information is needed to prepare first year accounts?

We normally need the company's complete accounting records for the period: bank statements and transaction listings, sales and income records, business expenses and purchase invoices, details of any assets bought or sold, share capital information, director loans or transactions, and any finance agreements. If the company runs payroll or is VAT registered, those records are relevant too. Not every company will hold all of these — a company with limited activity may have very few — but the more complete the records, the more straightforward the preparation.

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

Yes. A newly incorporated company is generally required to prepare and file statutory accounts with Companies House for its first accounting period, even where activity has been minimal. Filing the accounts does not replace the company's other obligations: a confirmation statement is a separate filing, and any Corporation Tax Return is submitted to HMRC rather than to Companies House. Directors remain responsible for making sure each of these is dealt with.

Are first year accounts the same as a CT600?

No. They are separate filings with different purposes and different destinations. Statutory accounts are prepared for the company's members and filed at Companies House where required, while a CT600 is a Corporation Tax Return submitted to HMRC where the company has a Corporation Tax obligation. Information from the accounts often feeds into the tax return, but filing one does not file the other, and the company's first Corporation Tax accounting period may not match its statutory accounts period exactly.

Do first year accounts still need to be filed if the company has not started trading?

A company's reporting position depends on its own circumstances and the rules that apply to it, rather than on a simple assumption that no trading means nothing needs to be filed. Statutory accounts obligations can still apply to a company with limited or no activity, and whether it can be treated as dormant is a separate question with its own conditions. It is worth taking advice rather than concluding there is nothing to do.

Can a newly incorporated company qualify for micro-entity accounts?

Possibly, but it is not automatic. The micro-entity framework is available to companies that meet the eligibility conditions for the relevant accounting period, and FRS 105 is the standard applicable to qualifying entities using it. A company may instead fall within the small company regime, or need to report on a fuller basis. Eligibility should be assessed against the company's actual figures and circumstances, and reviewed again as the business develops.

What happens if first year accounts are filed late?

Missing the filing date for statutory accounts can lead to consequences from Companies House, and the outcome is not identical in every case. Paying any penalty does not remove the requirement to file the outstanding accounts — the filing still has to be completed. If accounts are already overdue, the sensible step is to get them prepared and submitted as soon as possible, and to check whether an appeal against any penalty is available in your particular circumstances.