─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Cardiff — Prepared, Reviewed and Filed

If you have incorporated a limited company in Cardiff and your first accounting period is coming to an end, the first set of statutory accounts can feel like unfamiliar territory. Micro Entity Accounts works with directors through that process: we look at the accounting records you have kept, prepare the statutory accounts — a balance sheet and, where the applicable framework allows, a profit and loss account — and deliver them to Companies House where required. Your company may also have separate Corporation Tax obligations, such as a CT600 return submitted to HMRC, and those sit alongside the accounts filing rather than being the same thing. Whether you have been trading steadily, have only just started, or have had limited activity since incorporation, we can help you work out what needs to be prepared, which reporting framework fits your circumstances, and how to get the filing in order.

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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 Cardiff Company Qualify?

First year accounts are the first set of annual statutory accounts a limited company prepares after incorporation. They cover the company’s initial accounting period, which normally begins on the date of incorporation and runs to the first accounting reference date that Companies House sets when the company is registered. That first period can be longer than twelve months, which is one of the reasons first-year accounts are treated a little differently from the annual accounts that follow — the period length, the figures involved and any comparatives all need to be considered carefully. Once prepared, the statutory accounts are generally filed with Companies House where required, and the deadline for doing so depends on the company’s accounting reference date and the applicable filing requirements rather than a single fixed date that applies to every company. Some companies describe their first accounts as micro-entity accounts, but that is a reporting framework rather than a description of the accounts themselves. A company may qualify to use the micro-entity framework, prepared under FRS 105, if it meets the eligibility requirements for the relevant accounting period. Not every newly incorporated company qualifies, and a small company with low turnover does not automatically fall into the micro-entity category. The right framework is determined by the company’s circumstances — its balance sheet position, its turnover and its employee numbers in the period concerned — and it is worth confirming this before the accounts are drawn up rather than assuming. It also helps to be clear about what first-year statutory accounts are not. They are not a Corporation Tax Return, and filing them with Companies House does not submit a CT600 to HMRC; a company may have separate Corporation Tax obligations that are dealt with through a different filing, even though the accounting figures may support that work. They are not a confirmation statement either, which is a separate Companies House filing that keeps the company’s registered details up to date. And if the company has had little or no activity since incorporation, that does not automatically make it dormant or remove the need to consider its reporting position — it simply means the position needs to be assessed on the facts.

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 Cardiff, Prepared and Filed Properly

Most directors of a newly incorporated company around Cardiff are asking the same question: what actually has to be filed, and how do I know the figures are right? If your bookkeeping is behind, your first accounting period is an unusual length, or you are unsure whether the micro-entity framework applies to your company, that uncertainty is best dealt with before the period closes rather than afterwards. Micro Entity Accounts can review your records, prepare your statutory accounts and support the Companies House filing, so that what is presented reflects what has genuinely happened in the company since incorporation. If you would rather not work through the first set of accounts alone, professional preparation is a sensible place to start.

─── 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 limited company prepares, covering the initial accounting period from incorporation to the 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 notes required. Once prepared, they are generally filed with Companies House where required.

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

In most cases, yes. A limited company is generally expected to prepare and file statutory accounts for its accounting periods, including its first one, even if trading has been limited since incorporation. The exact position depends on the company's circumstances and the applicable requirements, which is why it is worth checking rather than assuming a filing is not needed.

When are first year accounts due?

The deadline is driven by the company's accounting reference date and the applicable Companies House requirements, and first accounts can follow a slightly different timetable from later years. Because the period can run for longer than twelve months, directors in Cardiff are often unsure how the deadline has been calculated. The reliable starting point is the accounting reference date recorded on your company's Companies House details.

What information do I need to prepare first year accounts?

Usually the accounting records kept since incorporation: bank transactions and statements, sales and income records, business expenses and purchase invoices, details of any assets bought, director transactions and loans, share capital information, and payroll or VAT records where those apply. Not every company will have all of these, and the accounts are prepared from whatever is relevant to your circumstances. Missing records can usually be reconstructed, but it takes longer and costs more than keeping them in order from the start.

Are first year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where the company has Corporation Tax obligations. The figures in the accounts often support the tax work, but the two are separate filings with separate purposes, and completing one does not complete the other. It is also possible for the first Corporation Tax accounting period and the statutory accounts period not to be identical.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies may qualify for the micro-entity framework, prepared under FRS 105, if they meet the eligibility requirements for the relevant accounting period. Qualification is not automatic for new companies or startups, and low turnover alone does not guarantee it. The framework should be confirmed against your company's own circumstances before the accounts are prepared.

Do first year accounts replace the confirmation statement?

No, they are separate obligations. A confirmation statement keeps the company's registered information at Companies House up to date, while statutory accounts report the company's financial position for the period. Filing your first accounts does not satisfy the confirmation statement requirement, and the two are usually due at different points in the year.

What happens if first year accounts are filed late?

Failing to file required accounts by the applicable deadline can lead to Companies House consequences, and the outcome depends on how late the filing is and the circumstances involved. Paying any penalty does not remove the requirement to file the outstanding accounts. If your accounts are already overdue, the sensible step is to get them prepared and filed as soon as possible, and to seek advice on whether an appeal may be appropriate in your situation.