─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

A limited company’s first accounting period is rarely a neat twelve months, and the accounts prepared for it need to reflect that. Micro Entity Accounts supports newly incorporated and newly trading limited companies in Caldicot with the preparation of their first set of statutory accounts — reviewing the accounting records behind the figures, building the balance sheet and, where applicable, the profit and loss account, and supporting delivery to Companies House where required. We also help directors understand how the first accounting period and accounting reference date affect their filing position, and how those sit separately from HMRC obligations such as a Corporation Tax Return or CT600.

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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 Does Your Caldicot Company Qualify?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. When a company is incorporated, Companies House sets an accounting reference date, and the first accounting period generally runs from the incorporation date to that first reference date. The exact period depends on the incorporation date and the company’s own circumstances, so it will not necessarily be a full twelve months. These accounts are not optional simply because the company is new or has been quiet. Even a company with limited activity, or one that has not yet started trading, may still have statutory filing obligations, depending on its circumstances and the applicable rules. Where the accounts are required, they are delivered to Companies House. Preparing them means pulling the company’s accounting records together — bank transactions, sales and income records, business expenses, purchase invoices, any assets bought, share capital details, director transactions and loans — and using those records to build a balance sheet and, where applicable, a profit and loss account. Some companies qualify to report under the micro-entity framework, which uses FRS 105, the financial reporting standard applicable to qualifying entities using the micro-entity accounting framework. Eligibility depends on meeting the applicable criteria for the relevant accounting period, so it is something to check rather than assume. A newly incorporated company is not automatically a micro-entity, and a company with modest turnover does not automatically qualify either. If the micro-entity framework is not appropriate, another framework such as small-company reporting may fit better. It is also worth being clear about what first year accounts are not. They are not a Corporation Tax Return — a CT600 is prepared and submitted to HMRC separately, where the company has Corporation Tax obligations, and the company’s first Corporation Tax accounting period may not match its statutory accounts period exactly. They are also not a confirmation statement, which is a separate Companies House filing that keeps the public register up to date. Filing accounts does not complete those other obligations, and filing them does not complete the accounts either.

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 Limited Company Accounts in Caldicot Prepared Correctly From the Start

Newly incorporated companies in Caldicot often reach their first accounts period without being entirely sure what goes where. Is it Companies House, HMRC, or both? Which reporting framework applies? What happens if the records are incomplete or the company has barely traded? Micro Entity Accounts works with directors to bring the first accounting period together — reviewing the accounting records, preparing the statutory accounts, and supporting the Companies House filing where required, while keeping the separate Corporation Tax position clearly in view. If the detail of your first year feels unclear, having it reviewed before the period closes is a sensible step.

─── 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, covering the period from incorporation to the first accounting reference date set by Companies House. They normally include a balance sheet and, where applicable, a profit and loss account, along with any notes required by the reporting framework the company uses. They are a statutory filing rather than an internal management report.

When are first accounts due?

That depends on the company's incorporation date and its accounting reference date. The first accounting period generally runs from incorporation to that first reference date, and the filing deadline is calculated from there. Because the dates are specific to each company, it is worth checking the exact position on the Companies House register for your company rather than assuming a standard twelve-month cycle. If you are unsure, we can help you confirm the period your accounts need to cover.

What information is needed to prepare first-year accounts?

Usually the accounting records covering the first accounting period: bank statements and transactions, sales invoices and income records, purchase invoices and business expenses, details of any assets purchased, share capital information, any loans or finance agreements, and records of transactions with directors. If the company has run payroll or registered for VAT, those records may also be relevant. A company with very little activity will have fewer records, but the figures in the accounts still need to be supported by the underlying paperwork.

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

In most cases, yes. A newly incorporated limited company generally has statutory accounts filing obligations, and those are not removed simply because trading has not started or activity has been minimal. There are limited situations where the position differs, for example certain dormant or non-trading scenarios, so the reporting position depends on the company's circumstances and the applicable rules rather than being assumed. We can help you work out which position applies to your company.

Are first-year accounts different from annual accounts?

The preparation work is essentially the same; what makes the first set distinct is the period it covers. First year accounts relate to the company's initial accounting period, which often differs in length from the twelve-month periods that follow. After the first set is filed, the company usually moves onto a more regular cycle, although the first accounting period can be shortened or extended in certain circumstances. The records, balance sheet and profit and loss account where applicable follow the same principles either way.

Do first-year accounts need to be filed if the company has not traded?

The company may still need to deal with its statutory accounts position. Not having traded does not automatically remove filing obligations, and it does not automatically make a company dormant in the Companies House sense — that depends on whether there have been significant accounting transactions and on the applicable rules. Where accounts are required, they still need to be prepared and delivered to Companies House. It is better to establish the position early than to leave it until a filing date is close.

Are first-year accounts the same as a CT600?

No. They serve different purposes and go to different places. First year statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has Corporation Tax obligations. Accounting information from the accounts may be used when preparing the company's Corporation Tax position, but completing one filing does not complete the other, and the first Corporation Tax accounting period may not be identical to the statutory accounts period.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies do qualify for the micro-entity framework, but it is not automatic. Eligibility depends on the company meeting the applicable criteria for the relevant accounting period, and those criteria need to be checked against its actual figures and circumstances. Where a company qualifies, FRS 105 — the financial reporting standard applicable to qualifying entities using the micro-entity accounting framework — can allow for a more streamlined set of accounts. If it does not qualify, another framework such as small-company reporting may be more appropriate.

What happens if first year accounts are filed late?

If required accounts are not delivered by the applicable deadline, Companies House can apply consequences, which may include late filing penalties. The amount, if any, depends on the circumstances and how late the accounts are. Paying a penalty does not remove the requirement to file the outstanding accounts, and an appeal is only possible where the circumstances and applicable rules support one. Preparing the accounts well ahead of the period end generally makes the first year considerably easier to manage.