─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

Every limited company has to produce a first set of statutory accounts, and for a newly incorporated business that filing often raises more questions than any other. The First Year Accounts for Limited Company process means turning your records into a balance sheet, a profit and loss account where applicable, and the notes required by the reporting framework the company falls under, then delivering those accounts to Companies House where required. Before any of that, the underlying accounting records need reviewing: bank transactions, income, business expenses, asset purchases, director transactions and share capital details. Where the company also has Corporation Tax obligations, a CT600 is submitted separately to HMRC and is not covered by the Companies House accounts filing. We help directors of newly incorporated and newly trading companies in Wishaw work through the first-year requirements, agree the appropriate accounting framework and get the accounts prepared and filed.

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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 When Does That Framework Apply?

When a company is incorporated, Companies House sets an accounting reference date for it. That date marks the end of the company’s first financial period and, in most cases, the point at which the business needs a set of statutory accounts covering everything from incorporation through to that date. These are the first-year accounts: the company’s opening set of annual statutory accounts, prepared in the format required for the relevant accounting period and filed at Companies House where the filing requirement applies. The first accounting period is not identical for every company. It runs from incorporation to the first accounting reference date, so its length varies depending on when the company was registered. The same applies to the deadline for delivering the accounts, which follows from the company’s own dates rather than one shared date applying to every new company. Directors in Wishaw are often surprised by how quickly that first period passes. The micro-entity framework is mentioned here because many smaller companies do fall within it, but it is not automatic. Eligibility depends on the company’s size and circumstances for the period in question. Where it qualifies, FRS 105 is the financial reporting standard applicable to entities using the micro-entity accounting framework, and the accounts can be prepared in a simplified form. Where it does not qualify, the small companies regime or full reporting requirements may be relevant instead, and that assessment should be made before preparation begins. It is also worth being clear about what first-year accounts are not. They are not a Corporation Tax Return. A CT600 is submitted to HMRC, while statutory accounts are delivered to Companies House, and although figures from the accounts often inform the tax position, the two filings have separate purposes and destinations. A confirmation statement is a third, separate filing that keeps the public register up to date and does not replace the accounts. Company directors remain responsible for ensuring these obligations are met, including keeping adequate accounting records. Professional support can handle the preparation, review and submission, but the legal duty stays with the directors.

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 Wishaw Prepared Correctly From the Start

Many directors only find out what the first set of statutory accounts involves once the company has already been running for months. Records may be incomplete, it may be unclear whether the company qualifies as a micro-entity, and it is easy to confuse the Companies House accounts filing with a CT600 or a confirmation statement. Micro Entity Accounts supports directors of newly incorporated limited companies in Wishaw with first-year accounts preparation and filing, starting with a review of the accounting records and a clear explanation of what is required and when. If your first accounting period has ended or is approaching, having the accounts prepared properly now is considerably simpler than dealing with them once the filing date has passed.

─── 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 annual accounts a limited company prepares. They cover the company's initial accounting period, which normally runs from the date of incorporation to the first accounting reference date, and they typically include a balance sheet, a profit and loss account where applicable and the supporting notes required by the relevant reporting framework. Once prepared and approved by the directors, they are delivered to Companies House where the filing requirement applies. They are a statutory document, not an optional extra.

When do first accounts need to be filed?

The deadline depends on the company's incorporation date and its accounting reference date, so it differs from company to company. Companies House sets the first accounting reference date when the company is registered, and the filing deadline follows from that. Because the first period can be longer than twelve months, directors sometimes assume they have more time than they do, and sometimes the opposite. We confirm the applicable date for your company when we take on the work so there is no guesswork involved.

What information is needed to prepare first-year accounts?

It depends on what the company has done during the period, but the usual starting point is a full set of accounting records. That can include bank statements and transactions, sales and income records, purchase invoices and business expenses, asset purchases, director transactions and any loans or finance arrangements, share capital details, and payroll or VAT records where those apply. If some records are missing, the position can often be reconstructed from bank data and supporting documents, but the more complete the records, the more straightforward the preparation.

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

Where the filing requirement applies, yes. Incorporation itself creates statutory obligations, and a quiet first period does not remove them. If the company has had no significant accounting transactions, a different reporting position may apply, but dormancy is defined by specific criteria rather than simply by an absence of sales, so it should be checked rather than assumed. It is also worth noting that Companies House does not prepare accounts and does not approve them; it receives and registers the filings delivered to it.

Are first-year accounts different from a CT600 or a confirmation statement?

Yes, these are three separate filings. First-year statutory accounts are delivered to Companies House. A Corporation Tax Return, usually a CT600, is submitted to HMRC where the company has Corporation Tax obligations, and the company's first Corporation Tax accounting period may not be identical to its statutory accounts period. A confirmation statement is another separate annual filing that confirms the company's registered information is up to date. Completing one of these does not complete the others.

Do we still need first-year accounts if the company has not traded?

A company can be incorporated without having started trading, and it can still have Companies House obligations to meet. Where no significant accounting transactions have taken place, dormant accounts may be the appropriate route, but that depends on the company's specific circumstances and the rules that apply, so it should be assessed before anything is filed. Ignoring the requirement is not a safe option; preparing the accounts on the correct basis is.

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

Possibly, but not automatically. Micro-entity eligibility is based on meeting the qualifying conditions for the accounting period in question, not simply on being newly incorporated or having modest income. Where a company qualifies, FRS 105 is the financial reporting standard applicable to entities using the micro-entity framework, and the accounts can be prepared in a simplified format. Where it does not qualify, another framework such as the small companies regime may be relevant instead. We assess this as part of the preparation work.

What happens if first-year accounts are filed late?

Filing after the applicable deadline can lead to consequences from Companies House, and the position generally becomes more difficult the longer accounts remain outstanding. Paying any penalty does not remove the requirement to deliver the accounts. If accounts are already overdue, the priority is to get accurate accounts prepared and filed promptly, and to consider whether an appeal is appropriate given the circumstances and the rules that apply. Directors in Wishaw who are unsure of their position can have the records reviewed and the filing brought up to date.