─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Welwyn, Prepared Properly From the Start

If you have recently incorporated a company, its first set of statutory accounts will need to be prepared for the initial accounting period. That period is not always a straightforward twelve months, and the filing position depends on your incorporation date and accounting reference date rather than on a single rule that applies to everyone. Micro Entity Accounts supports directors of newly incorporated and newly trading limited companies in Welwyn with the practical work involved: reviewing your accounting records, preparing the required balance sheet and, where applicable, a profit and loss account, and delivering the accounts to Companies House where required. Corporation Tax sits separately from this — a CT600 is submitted to HMRC, not to Companies House — and we can explain how the two obligations relate to one another without treating them as the same filing.

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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 in Welwyn?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They are not optional simply because the company has only recently been incorporated. Once a company is registered at Companies House it has a statutory accounting reference date, and its first accounting period generally runs from the date of incorporation to that reference date. The exact period varies — it depends on the incorporation date, the accounting reference date and the applicable Companies House requirements — so two companies incorporated in the same month will not necessarily share the same first period or the same filing deadline. The accounts themselves normally set out the company’s financial position at the end of the period. Depending on the reporting framework that applies, that may include a balance sheet and, in some cases, a profit and loss account, together with any notes the framework requires. Directors remain responsible for keeping adequate accounting records, for the accuracy of the information provided and for making sure the company meets its filing obligations. Bringing in an accountant supports that process; it does not transfer those duties away from the board. Where a company meets the applicable eligibility conditions for the relevant accounting period, it may be able to report under the micro-entity framework, with FRS 105 as the financial reporting standard for qualifying entities. Not every newly incorporated company qualifies, and a modest turnover on its own does not settle the question. The appropriate framework should be confirmed against the company’s circumstances for that period, which is one of the first things worth checking before any figures are finalised. It also helps to keep the different filings apart. First year statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted separately to HMRC, and the company’s first Corporation Tax accounting period does not necessarily match its statutory accounts period. A confirmation statement is another separate filing that keeps the public register up to date, and it is not replaced by submitting accounts. Completing one of these does not complete the others, which is why newly incorporated companies in Welwyn often find it useful to map out the whole first-year cycle rather than dealing with each obligation in isolation.

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.

First Year Accounts for Limited Company in Welwyn — Prepared Accurately, Filed Where Required

The first set of accounts is often the point where a new director realises how much depends on getting the underlying records right: what counts as a business expense, how director transactions should be treated, what share capital looks like on a balance sheet, and which reporting framework actually applies. If any of that feels uncertain, it is far easier to sort out before the accounts are drafted than afterwards. Micro Entity Accounts provides professional first-year accounts preparation and filing support for limited companies in Welwyn, working from your records to produce statutory accounts and helping you understand the separate Companies House and HMRC requirements that follow. If you would rather start your company’s reporting history on a sound footing, get in touch and we can talk through where your company stands.

─── 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 for its initial accounting period, covering the period from incorporation (or from the start of trading, where relevant) to its accounting reference date. They typically include a balance sheet and, depending on the framework used, a profit and loss account and supporting notes. They are a statutory requirement, not an optional exercise, even for a company that has only recently been formed.

When are first accounts due?

The deadline depends on your company's incorporation date and accounting reference date, and the rules for a first set of accounts can differ from those that apply in later years. Because of that, it is not safe to assume a standard twelve-month pattern. The reliable approach is to check the specific deadline recorded for your company at Companies House and to work back from there, allowing time to gather records and have the accounts prepared and reviewed.

What information do you need to prepare first year accounts?

It varies by company, but the starting point is usually complete accounting records: bank transactions and statements, sales or income records, purchase invoices and receipts, details of any assets bought, share capital information, director loan activity and any loans or finance arrangements. Where payroll or VAT is in place, the related records help too. If a company has had very little activity, the records needed may be correspondingly limited, but the reporting position still needs to be considered properly.

Does a new limited company have to file accounts with Companies House?

In most cases yes, statutory accounts are delivered to Companies House where required, and this obligation applies to companies that have been recently incorporated as well as to established ones. Filing accounts does not replace a confirmation statement, which is a separate submission, and it does not update the other information held on the public register. Companies House receives and registers the accounts; it does not prepare them or approve them in a professional or regulatory sense.

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

A company may still have statutory filing obligations even where activity has been limited or trading has not yet begun, so the position needs to be looked at rather than assumed. Where there have been no significant accounting transactions, the correct approach depends on the company's particular circumstances and the applicable rules — it does not automatically mean the company is dormant in the reporting sense. Getting this wrong at the first filing can create avoidable complications later.

Are first year accounts the same as a CT600?

No. They are separate filings with separate purposes and separate destinations. Statutory accounts go to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. Information from the accounts is often used when preparing the company's Corporation Tax position, and the first Corporation Tax accounting period may not line up exactly with the statutory accounts period. Filing one does not submit the other.

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 financial reporting standard for entities that meet those conditions. Eligibility is not automatic, though, and it is not decided by turnover alone or by the fact that a company is new or small. The framework should be confirmed against the eligibility requirements for the relevant accounting period, and a Welwyn company's reporting options can change as it grows.

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, and the outcome is not identical in every case. Paying any penalty that arises does not remove the requirement to file the outstanding accounts. If accounts are already overdue, the priority is usually to get them prepared and submitted, and to understand whether the circumstances support an appeal — eligibility for that depends on the reasons and the applicable rules. Professional support can help you work through both stages.