─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Budleigh Salterton, Handled Properly From the Start

If you have recently incorporated a company, your first set of statutory accounts is one of the earliest obligations you will need to deal with, and it usually arrives sooner than directors expect. Micro Entity Accounts supports limited companies in Budleigh Salterton with their First Year Accounts for Limited Company, beginning with a proper review of the accounting records, share capital details and transactions that sit behind the figures. We then prepare the statutory accounts, including the balance sheet and, where the applicable framework requires one, the profit and loss account, and support you with delivery to Companies House where required. Corporation Tax is a separate matter: if a CT600 is due, it is submitted to HMRC, not Companies House, and filing the accounts does not complete it.

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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 limited company is incorporated, Companies House assigns it an accounting reference date, and the company’s first accounting period is measured from that starting point. The first set of statutory accounts, often simply called first year accounts, covers that initial period and represents the company’s first formal reporting of its financial position, delivered to Companies House where required. The exact length of the period and the filing deadline depend on the incorporation date, the accounting reference date and the applicable Companies House requirements, which is why newly formed companies in Budleigh Salterton do not all share an identical timetable. A company subject to the filing requirements needs to prepare accounts for that period whether or not it has been busy. Where activity has been limited, or where trading has not yet begun, there may still be something to file, and the correct reporting position depends on the company’s own circumstances rather than on turnover alone. A quiet first period does not automatically make a company dormant in the statutory sense. Some companies may be able to use the micro-entity framework and prepare accounts under FRS 105, the financial reporting standard for qualifying entities using the micro-entity accounting framework. That is never automatic. Eligibility has to be assessed against the conditions that apply for the relevant accounting period, and a company is not a micro-entity simply because it is new or small. If the micro-entity framework does not fit, another reporting framework may be appropriate. It also helps to keep the separate filings separate. First year statutory accounts go to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC and serves a different purpose; completing one does not complete the other, and a company’s first Corporation Tax accounting period does not always match its statutory accounts period. A confirmation statement is a third, separate requirement that keeps the public register accurate. Directors who treat these as distinct obligations tend to find the first year of compliance far easier to manage.

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 Budleigh Salterton: Professional Preparation and Filing Support

If your company has just been incorporated and you are unsure how the first accounting period works, what records you need to gather, or which reporting framework applies to you, that uncertainty is extremely common among new directors and it is far easier to resolve early than in the week before a deadline. Micro Entity Accounts can review your accounting records, prepare your First Year Accounts for Limited Company, and support you with filing at Companies House where required, with clear pricing and no hidden costs. Because the first set of accounts establishes the baseline for every year that follows, having an experienced hand check the detail before anything is submitted is a sensible step for any director in Budleigh Salterton.

─── 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, which normally begins on the date of incorporation and ends on the company's first accounting reference date. They typically include a balance sheet and, depending on the reporting framework that applies, a profit and loss account together with any required notes. Directors remain responsible for ensuring these accounts are prepared and delivered, even when an accountant handles the work.

When are first year accounts due to be filed?

There is no single answer that applies to every company. The deadline is calculated from the company's accounting reference date, and because first-year periods are usually longer than later ones, the filing window for a first set of accounts is often more generous than in subsequent years. Rather than working from an assumed date, it is worth confirming the position for your own company on the Companies House record, or asking us to check it for you.

What information is needed to prepare first year accounts?

It depends on what the company has actually done. Typical items include bank statements and transaction listings, sales and income records, purchase invoices and expense receipts, details of any assets bought, share capital information, director loans or other director transactions, and supporting documents for anything unusual. Where the company runs payroll or is VAT registered, the relevant payroll and VAT records would also form part of the picture. Companies with very little activity simply need fewer records.

Do we still have to file accounts if the company has not started trading?

Possibly, and this is one of the most common misunderstandings among new directors. A company can have statutory filing obligations even where activity has been minimal or trading has not yet begun. What actually needs to be reported depends on the company's circumstances and the applicable rules, and a company with no significant accounting transactions is not automatically dormant. Dormant accounts are only appropriate where the relevant conditions are met.

Are first year accounts the same as a CT600?

No. They are separate submissions with separate destinations and purposes. Statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. The figures in the accounts often feed into the Corporation Tax position, but filing one does not complete the other, and a company's first Corporation Tax accounting period may not be identical to its statutory accounts period.

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

Some newly incorporated companies may qualify for simplified reporting as micro-entities if they meet the eligibility requirements for the relevant accounting period, and where they do, FRS 105 is the standard that applies to the micro-entity framework. It is not a default position, though, and a company is not automatically a micro-entity because it is newly formed or has modest activity. Eligibility should be checked against the company's own circumstances before the framework is chosen.

Does preparing first year accounts also cover the confirmation statement?

No, the confirmation statement is a separate filing. It confirms that the information Companies House holds about the company, such as registered office, directors and share capital, is accurate, and it is normally due at least once a year regardless of the accounts position. Filing statutory accounts does not replace it, and keeping the public register up to date is a distinct obligation from accounts preparation.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to Companies House consequences, which may include penalties. The outcome depends on how late the filing is and the company's filing history, so it is not identical in every case. Paying a penalty does not remove the requirement to file the outstanding accounts. If a filing has been missed, the priority is to get the accounts completed and delivered rather than to delay further, and appeal options may exist depending on the circumstances.