─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Worthing — Prepared and Filed With Professional Support

A company’s first set of statutory accounts shapes the compliance record that follows. Micro Entity Accounts works with newly incorporated and newly trading limited companies in Worthing to prepare first year accounts that accurately reflect the company’s position, are built on properly reviewed accounting records, and are filed with Companies House where required. We begin by looking at what the company actually has — bank transactions, sales records, purchase invoices, asset purchases, director transactions, share capital and any other supporting documents — and then prepare a balance sheet and, where applicable, a profit and loss account under the reporting framework the company is eligible to use. Where Corporation Tax applies, that is a separate obligation handled through HMRC, usually by way of a CT600, and filing accounts at Companies House does not satisfy it. Directors in Worthing finish the process understanding what has been filed, what the figures represent, and what still needs their attention.

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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 Directors in Worthing

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. That period normally begins on the date of incorporation and runs to the company’s first accounting reference date, although it can be shortened or extended in certain circumstances and subject to the applicable rules. Because the first period often covers more than twelve months, the figures involved are frequently larger than directors expect, and the period does not necessarily line up with the company’s first Corporation Tax accounting period. Filing deadlines follow from the accounting period and the Companies House requirements that apply to the company, so the date is not identical for every newly incorporated company. These accounts are not optional simply because the company is new or has been quiet. A limited company generally has statutory accounts obligations regardless of how much activity has taken place, and where it has had limited or no transactions, the correct reporting position depends on the company’s particular circumstances and the rules that apply rather than an automatic assumption that it is dormant. A micro-entity framework may be available to companies that meet the eligibility conditions for the relevant accounting period, in which case FRS 105 — the financial reporting standard for qualifying micro-entities — can be used, typically producing a simpler balance sheet with limited disclosures. That framework is not available to every company, and eligibility needs to be checked rather than assumed. It is worth separating three distinct obligations. First year statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted separately to HMRC where the company has a Corporation Tax obligation. A confirmation statement is another separate filing that keeps the company’s registered details up to date. None of these replaces the others. Directors remain responsible for ensuring the company meets its obligations, even when an accountant prepares or files the accounts on the company’s behalf.

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 Worthing Prepared on a Sound Basis

The first set of accounts is often the point where new directors realise how much depends on good record keeping — transactions that were never categorised, director spending mixed with company spending, share capital that was never properly recorded, or uncertainty about which reporting framework the company should be using. Micro Entity Accounts provides professional support with preparing first year accounts for limited companies in Worthing, including reviewing the accounting records, drafting the statutory accounts, and filing them with Companies House where required, with the Corporation Tax position treated as the separate HMRC matter it is. Fees are set out clearly in advance, so there are no hidden costs and no guesswork about what is included. If your company’s first accounting period has ended, or is approaching, get in touch and we will explain what is needed from you and what happens next.

─── 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 company's first set of annual statutory accounts, covering the initial accounting period from incorporation through to the first accounting reference date. They normally include a balance sheet and, where applicable, a profit and loss account, and are prepared from the company's accounting records before being filed with Companies House where required.

When do a company's first accounts need to be filed?

The deadline depends on the company's accounting reference date and the length of its first accounting period, along with the Companies House requirements that apply to it. First periods can be longer than twelve months, which affects the filing date, so it is worth confirming the position for your own company rather than relying on a general rule of thumb. We can check the applicable date with you as part of the accounts preparation process.

What information is needed to prepare first year accounts?

Typically bank statements and transaction listings, sales and income records, purchase invoices and receipts, details of any assets bought, director loan movements, share capital information, and any loans or finance agreements. If the company runs payroll or is VAT registered, those records are relevant too. Not every company will have all of these — what is needed depends on what the company has actually done during the period.

Does a newly incorporated company have to file accounts with Companies House?

In most cases, yes. A limited company generally has statutory accounts filing obligations even where activity has been limited. Filing those accounts is a Companies House requirement, and it is separate from any Corporation Tax Return submitted to HMRC. If your company has had very little activity, the correct approach still depends on its circumstances and the rules that apply, so it is worth taking advice rather than leaving the filing outstanding.

If the company has not started trading, are first year accounts still needed?

A company can still have statutory filing obligations even where it has not yet commenced trading or has had minimal transactions. Whether it is genuinely dormant for reporting purposes is a question of fact and depends on the applicable rules — it is not something that can be assumed simply because no sales have been made. Directors in Worthing who are unsure of their position can ask us to review the activity and confirm the appropriate treatment.

Are first year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and filed with Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC where the company has a Corporation Tax obligation. The two serve different purposes and go to different places, and the company's first Corporation Tax accounting period may not match its statutory accounts period. Figures from the accounts may feed into the tax position, but filing one does not complete the other.

Can a new limited company qualify for micro-entity accounts?

Some newly incorporated companies do meet the eligibility conditions for the micro-entity framework and can prepare accounts under FRS 105, which is the financial reporting standard for qualifying micro-entities. It is not automatic, and low turnover alone does not decide the question — eligibility is assessed against the applicable requirements for the relevant accounting period. Where a company does not qualify, a different framework such as small company reporting would apply instead.

What happens if first year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to consequences from Companies House, and those consequences are not necessarily the same in every case. Paying any penalty does not remove the requirement to file the outstanding accounts, so the filing still needs to be completed. If accounts have already been filed late, appeal eligibility depends on the circumstances and the applicable rules, and we can help you understand the position.