─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

If you have recently incorporated a company, your first set of statutory accounts is one of the earliest compliance tasks you will need to deal with. We help newly incorporated and newly trading limited companies in Bromsgrove prepare their First Year Accounts for Limited Company, starting with a review of the accounting records you hold and a check on your accounting reference date. From there, we prepare the statutory accounts — including a balance sheet and, where applicable, a profit and loss account — and file them with Companies House where required. Corporation Tax is a separate matter: if the company has Corporation Tax obligations, a CT600 is submitted to HMRC, not to Companies House, and we can help you understand how the two fit together.

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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 Why Do They Matter?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They cover the period from incorporation, or from the date the company began its first accounting period, up to its first accounting reference date. Companies House sets an accounting reference date when a company is incorporated, and this usually falls at the end of the month in which the company was incorporated twelve months earlier — but the exact period and the deadline for filing depend on the incorporation date, the accounting reference date and the applicable Companies House requirements, so it is worth checking rather than assuming. These accounts are not optional. A company is generally required to prepare and file statutory accounts with Companies House where required, even where trading has been limited or has not yet started. First year accounts are usually prepared in the same way as any later set of annual accounts: a balance sheet showing what the company owns and owes at the period end, together with a profit and loss account and any notes required under the reporting framework the company uses. Supporting accounting records — bank transactions, sales and income records, purchase invoices, expense receipts, asset purchases, director transactions, share capital details and any loans or finance — form the basis for that work. Not every company will have all of these, and a company with very little activity may have a much shorter set of records to work from. Some companies may qualify to report under the micro-entity framework if they meet the applicable eligibility requirements for the relevant accounting period. That framework is set out in FRS 105, the financial reporting standard applicable to qualifying entities using the micro-entity accounting framework. Eligibility is not automatic, and it is not determined by the fact that a company has just been incorporated. A company may instead fall within the small company regime or need to report under a fuller framework, depending on its circumstances. The appropriate framework should be confirmed before the accounts are drafted. It is also important to separate first year accounts from other compliance tasks. A Corporation Tax Return, such as a CT600, is submitted to HMRC and is a distinct filing with a distinct purpose — filing accounts with Companies House does not submit a CT600, and submitting a CT600 does not complete the accounts filing. The first Corporation Tax accounting period and the statutory accounts period may not necessarily be identical, particularly in the first year. A confirmation statement is separate again: it confirms the company’s registered details at Companies House and does not replace the accounts. VAT Returns and bookkeeping records are separate matters too, and only apply where the company is registered or otherwise needs them. Directors remain responsible for making sure the company meets its obligations, even where an accountant is engaged to prepare and file the accounts.

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 Prepared Correctly, From the Start

The first set of accounts often raises questions that later years do not — which period they should cover, which reporting framework applies, and what actually needs to go to Companies House. If you run a newly incorporated limited company in Bromsgrove and you are unsure what your first-year accounts should include, Micro Entity Accounts can help. We review your accounting records, prepare the statutory accounts, and support you with filing at Companies House where required, while keeping clearly separate the Corporation Tax position that sits with HMRC. Clear pricing and fixed-fee support are available, with no hidden costs. Getting the first year right sets a cleaner foundation for every accounting period that follows, so it is worth having it prepared and reviewed properly.

─── 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 company's first set of annual statutory accounts, covering its initial accounting period from incorporation (or from the start of that period) up to its first accounting reference date. They normally include a balance sheet and, where applicable, a profit and loss account and supporting notes. They are prepared from the company's accounting records and are filed with Companies House where required.

When are first accounts due?

The due date depends on the company's incorporation date and accounting reference date. Companies House sets an accounting reference date on incorporation, and the first accounting period is measured from there, but the resulting deadline is not identical for every company. It is worth confirming your own filing deadline rather than working from a general rule, and we can help you check the position for your company.

What information is needed to prepare first-year accounts?

It depends on what the company has done. Typically we would look at bank transactions, sales and income records, business expenses, purchase invoices, asset purchases, director transactions, share capital information, loans and finance, and payroll or VAT records where those apply. A newly incorporated company with limited activity may need very little. We will tell you what is relevant to your circumstances rather than asking for everything on a checklist.

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

In most cases, yes. A newly incorporated company generally has a statutory accounts filing obligation even where trading has been limited or has not yet commenced. Where a company has had no significant accounting transactions, its reporting position depends on its circumstances and the applicable rules — that is not the same as automatically being dormant. We can review your situation and explain what applies to you.

Are first-year accounts different from annual accounts?

The content is broadly similar, but the first set can be different in practice because the period may be longer or shorter than twelve months, and because it is the first time the company's figures are reported. Later years tend to follow the same framework with fewer unknowns. Getting the first year settled properly makes subsequent accounting periods more straightforward.

Are first-year accounts the same as a CT600?

No. Statutory accounts are filed with Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where Corporation Tax obligations apply. The two filings serve different purposes and go to different places. Accounting information from the accounts may be used when preparing the Corporation Tax position, but filing one does not complete the other.

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 for the relevant accounting period. It is not automatic, and low turnover alone does not confirm eligibility. Where micro-entity reporting applies, FRS 105 is the financial reporting standard used by qualifying entities. We confirm the appropriate framework before preparing the accounts.

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 the same in every case. Paying any penalty does not remove the requirement to file the outstanding accounts. If you are already overdue, or you think you may be, it is best to speak to us in Bromsgrove early so the position can be reviewed and the filing brought up to date.