─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Wallsend: Professional Preparation and Filing Support

If your company has recently been incorporated or has started trading in Wallsend, its first set of statutory accounts is a key compliance step. Micro Entity Accounts supports directors with the preparation of First Year Accounts for Limited Company, including reviewing the accounting records you hold, drafting the balance sheet and profit and loss account where applicable, and helping you understand the Companies House filing requirements. If Corporation Tax applies, a CT600 and any related submissions are separate HMRC matters, so we can help you see how the figures fit together without treating the two filings as the same process.

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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 Wallsend Limited Companies

First Year Accounts for a Limited Company are the first annual statutory accounts prepared for the company’s initial accounting period. They are not optional simply because the company is new. When a company is incorporated, Companies House sets an accounting reference date, and the first accounting period usually runs from the incorporation date to that reference date, although the exact position depends on the incorporation date and any changes made. The accounts normally include a balance sheet, and a profit and loss account where the applicable framework requires one, together with any notes and director-related information required by the reporting framework. If the company is eligible, it may be able to prepare micro-entity accounts under FRS 105, but eligibility depends on the applicable tests for the accounting period and should not be assumed. First-year statutory accounts are separate from a Corporation Tax Return such as a CT600, which is submitted to HMRC where applicable, and separate from the confirmation statement, which keeps Companies House informed about company details. For many companies, the first accounts are filed with Companies House where required, while Corporation Tax and confirmation statement obligations are handled through their own processes. A new Wallsend limited company should consider the relevant framework, prepare accurate accounting records, and allow enough time to review the figures before the applicable filing date.

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.

Prepare Your First Year Accounts for Limited Company in Wallsend with Professional Support

If you are unsure what your newly incorporated company needs to file, how your accounting records should be presented, or whether micro-entity reporting may be available, professional support can make the first-year process clearer. Micro Entity Accounts assists directors in Wallsend with preparing and reviewing First Year Accounts for Limited Company, helping to organise the figures, explain the applicable reporting framework, and support the Companies House filing where required. We can also help you understand where separate matters such as Corporation Tax, a CT600, or a confirmation statement may need attention, without suggesting that one filing completes the others. If you want a straightforward route through your company’s first statutory accounts, speak to us about fixed-fee support and clear next steps.

─── 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?

First-year accounts are the first annual statutory accounts prepared for a limited company's initial accounting period. They normally include a balance sheet and, where the applicable reporting framework requires it, a profit and loss account, along with any supporting notes. They are prepared from the company's accounting records and are usually filed with Companies House where required. They are not the same as a Corporation Tax Return or a confirmation statement.

When are first-year accounts due?

The due date depends on the company's incorporation date, its accounting reference date and the applicable Companies House requirements. A company's first accounting period is often different from later periods, so directors should check the specific dates that apply to their company rather than assuming a standard deadline. Professional support can help you confirm the relevant period and prepare the accounts in good time.

What information is needed to prepare first-year accounts?

We generally need the company's accounting records, which may include bank transactions, sales and income records, purchase invoices, business expenses, asset purchases, director transactions, share capital information, loans or finance agreements, and payroll or VAT records where relevant. Not every company will have all of these. The exact information depends on the company's activity and circumstances.

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

In most cases, a newly incorporated limited company will have a statutory accounts filing obligation, even if it has had limited activity. The accounts are generally filed with Companies House where required. Filing the accounts does not automatically deal with Corporation Tax, a CT600, VAT or the confirmation statement, which are separate compliance matters.

Are first-year accounts different from annual accounts?

First-year accounts are simply the first set of annual statutory accounts for the company. Later annual accounts follow on from that initial period. The main practical difference is that the first accounting period may be longer or shorter than a standard 12-month period and may follow different rules for the filing deadline. The underlying purpose is the same: to report the company's financial position for the relevant period.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies may qualify for the micro-entity framework if they meet the applicable eligibility requirements. However, not every new company qualifies, and low activity alone does not automatically make a company a micro-entity. Where eligible, micro-entity accounts may be prepared under FRS 105. The appropriate framework should be confirmed based on the company's circumstances and the relevant accounting period.

Do first-year accounts need to be filed if the company has not traded?

A company may still have statutory filing obligations even if it has not started trading or has had limited accounting transactions. Whether the company is dormant for Companies House or HMRC purposes depends on its specific circumstances and the applicable rules. Directors should not assume that no accounts are required simply because the company has been quiet. It is worth checking the position and preparing any required filing.

What happens if first-year accounts are filed late?

Failing to file required accounts by the applicable deadline can lead to consequences from Companies House, which may include late filing penalties. The outcome depends on the circumstances and the length of the delay, and paying a penalty does not remove the need to file the outstanding accounts. If you are already late, professional support can help you prepare the accounts and understand the options available, including whether an appeal may be possible under the applicable rules.