─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Caernarfon – Professional Preparation and Filing Support

Newly incorporated limited companies in Caernarfon usually need to address their first set of statutory accounts for their initial accounting period, even if trading has been limited. First Year Accounts for Limited Company work involves turning the company’s accounting records into a balance sheet and, where applicable, a profit and loss account, then delivering the accounts to Companies House where required. Micro Entity Accounts can review the records, help identify the correct reporting framework and prepare the first statutory accounts. Corporation Tax remains separate: a CT600 is submitted to HMRC where applicable, not to Companies House.

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First Year Accounts Preparation

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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? Guidance for Limited Companies in Caernarfon

First-year accounts are the first annual statutory accounts a limited company prepares after incorporation. They cover the company’s initial accounting period, which normally begins on the incorporation date and runs to the accounting reference date set at incorporation, unless that date is changed or other rules apply. The accounts are prepared from the company’s accounting records and generally include a balance sheet and, where appropriate, a profit and loss account, along with any disclosures required by the applicable framework. They are then filed with Companies House where required. This is not the same as a Corporation Tax Return or a confirmation statement. A limited company may also need to submit a CT600 to HMRC where applicable, and it may still need to file confirmation statements separately. Some companies may qualify as micro-entities for the relevant period and use the micro-entity framework, often under FRS 105, but eligibility depends on the applicable criteria and the company’s circumstances. Not every newly incorporated company will qualify, and the correct framework should be confirmed before preparation begins.

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.

Straightforward Support for First Year Accounts for Limited Company in Caernarfon

If you have incorporated a limited company in Caernarfon and are unsure what the first set of statutory accounts should include, Micro Entity Accounts can help. We can review your accounting records, prepare the first-year accounts, explain the information needed and support filing with Companies House where required. Whether your company has traded actively or has had limited transactions, getting the accounting position properly organised early makes later compliance easier to manage. Speak to us for professional first-year accounts preparation and filing support.

─── 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 prepared for the company's initial accounting period. They summarise the company's financial position at the period end and, where applicable, its income and expenses for the period. For many companies the accounts include a balance sheet, and may include a profit and loss account and disclosures depending on the reporting framework. They are delivered to Companies House where required. They are separate from a CT600, which is submitted to HMRC where applicable.

When are first accounts due?

There is no single date that applies to every company. The first accounting period usually starts on incorporation and ends on the company's accounting reference date, although changes to the accounting reference date and first-year rules can affect the period covered and the filing deadline. The deadline for first accounts can differ from later years. A director should check the company's Companies House record and take advice based on the specific incorporation date and accounting reference date.

What information is needed to prepare first-year accounts?

Typical records include bank statements and transaction listings, sales or income records, purchase invoices, expense receipts, details of assets bought or sold, share capital information, director loans or transactions, and any payroll or VAT records where applicable. If the company has had limited activity, records of that activity are still relevant. Good bookkeeping makes the accounts preparation process more straightforward and helps reduce the risk of omissions.

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

In most cases, a limited company must file annual accounts with Companies House for its accounting periods, including the first period, unless a specific exemption or dormant filing position applies. Not having started trading does not automatically remove the need to consider accounts filing obligations. The position depends on the company's circumstances and applicable rules. Companies House does not prepare the accounts or professionally approve them; it receives and registers filings where required.

Are first-year accounts the same as a CT600?

No. First-year statutory accounts are prepared for the members and filed with Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC where applicable. The figures from the accounts may help inform the tax return, but the two documents serve different purposes and go to different authorities. Filing accounts with Companies House does not automatically submit a CT600, and submitting a CT600 does not complete the Companies House accounts filing.

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

Some newly incorporated companies may qualify for the micro-entity framework if they meet the eligibility criteria for the accounting period. Qualification is not automatic and does not depend only on being newly incorporated or having low activity. A company may also fall within the small company framework instead. The appropriate framework, including whether FRS 105 applies, should be assessed from the company's circumstances. If your company is based in Caernarfon and you are unsure, professional support can help confirm the position.

Do first-year accounts include a confirmation statement?

No. A confirmation statement is a separate Companies House filing that confirms the company's registered details, such as directors, shareholders and registered office. Filing first-year accounts does not replace the confirmation statement, and filing a confirmation statement does not satisfy the accounts requirement. A company may need to deal with both at different times, depending on its filing obligations.

What happens if first-year accounts are filed late?

If required accounts are not filed by the applicable deadline, Companies House may apply late filing consequences under its rules. The outcome can depend on how late the accounts are and the company's filing history. Paying a penalty does not remove the requirement to file the outstanding accounts. If accounts are already overdue, it is sensible to act quickly and get professional help to prepare and file them, and to check whether any appeal route is available under the applicable rules. Directors in Caernarfon should not assume the position will resolve itself.