─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Carmarthen, Prepared and Filed Properly

A newly incorporated company usually reaches its first accounts filing requirement sooner than directors expect, and the figures in that first set of statutory accounts set the tone for everything that follows. Micro Entity Accounts works with company directors in Carmarthen to prepare first-year accounts that reflect what has actually happened in the business, from bank transactions and expense records through to share capital and any director’s loan movements. We review the accounting records you hold, prepare the statutory accounts, and file them with Companies House where required. Corporation Tax is handled separately: a CT600, where applicable, goes to HMRC rather than Companies House, and the company’s first Corporation Tax period may not line up exactly with its statutory accounts period.

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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 Limited Company in Carmarthen, and When Does Micro-Entity Reporting Apply?

First-year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. That period normally begins on the date of incorporation and runs to the company’s first accounting reference date, although it can be shortened or extended in certain circumstances. The accounts are prepared from the company’s accounting records and generally include a balance sheet, and a profit and loss account with notes where the applicable framework requires them. Once approved and signed by the directors, they are delivered to Companies House where required. This is a statutory obligation, not an optional document, and it applies even where the company has only recently started out. It helps to keep three separate obligations in view. First-year statutory accounts are filed with Companies House. A Corporation Tax Return, such as a CT600, is submitted to HMRC where the company has a Corporation Tax liability or an active accounting period, and filing one does not complete the other. A confirmation statement is a further, distinct Companies House filing that keeps the public register up to date. None of these replaces the others. Some newly incorporated companies qualify for simplified reporting as micro-entities, and qualifying entities use the micro-entity framework, with FRS 105 being the financial reporting standard that applies to that framework. Eligibility is not automatic and is not decided by the company’s age alone; it depends on criteria such as turnover, balance sheet total and employee numbers for the relevant accounting period. A new company with modest activity may still fall outside the micro-entity regime, and a company that has not yet begun trading may have a different reporting position altogether. The right framework is determined by the company’s own circumstances and the requirements that apply to that period.

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 for Limited Company in Carmarthen Prepared and Filed Correctly

If your company has recently been incorporated and you are unsure what the first accounts need to include, which reporting framework applies, or when the filing deadline falls, professional support removes a great deal of guesswork. Micro Entity Accounts can help you pull together the accounting records, prepare the statutory accounts for your first period, and file them with Companies House where required, while making clear how that sits alongside any separate Corporation Tax, confirmation statement or VAT obligations. Directors remain responsible for approving the accounts and for the accuracy of the company’s records, but there is no reason to work through the first set alone. Get in touch and we will talk through your company’s position.

─── 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 covering a company's initial accounting period. That period generally starts on the date of incorporation and ends on the company's first accounting reference date. The accounts are prepared from the company's accounting records and typically include a balance sheet, plus a profit and loss account and notes where the applicable framework requires them. Once the directors approve and sign them, they are delivered to Companies House where required. First-year accounts are a statutory filing obligation, not something a company can skip simply because it is new.

When are first-year limited company accounts due?

The deadline depends on the company's incorporation date and its accounting reference date, so it is not identical for every company. Companies House sets an accounting reference date when a company is incorporated, and the first accounting period normally runs from incorporation to that date, unless it is shortened or extended in line with the applicable rules. The first-year filing deadline is calculated from that reference date and differs from the deadline that applies in later years. We confirm the relevant dates for your company and work towards them.

What information is needed to prepare first-year accounts?

It varies with what the company has actually done. Typical items include bank statements and transaction records, sales or income records, business expense receipts and purchase invoices, details of any assets bought, share capital information, director's loan movements, and any loans or finance arrangements. Payroll or VAT records may also be relevant where the company has those obligations. A newly incorporated company in Carmarthen with very little activity may only need a small set of documents, so the first step is usually a short review of what exists.

Do newly incorporated companies have to file accounts with Companies House?

In general terms, yes, once the filing deadline for the first accounting period arrives. Filing is not optional, and it is not cancelled by the company having limited activity or not yet having started to trade. First-year statutory accounts do not replace other filings either. A limited company may also need to submit a confirmation statement and keep its registered details up to date, and those obligations run separately from the accounts. Directors remain responsible for making sure the required filings are made, even where an accountant prepares them.

Are first-year accounts the same as a CT600?

No. They serve different purposes and go to different places. 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 a relevant Corporation Tax obligation. The figures in the accounts are often used as a starting point when preparing the Corporation Tax position, but completing one filing does not complete the other. It is also worth noting that the company's first Corporation Tax accounting period and its statutory accounts period may not be identical.

Do we still need first-year accounts if the company has not traded?

A company can still have statutory filing obligations even where activity has been limited or trading has not yet begun, so the position should be checked rather than assumed. Having no significant accounting transactions does not automatically make a company dormant for reporting purposes, and the answer depends on the company's specific circumstances and the applicable rules. If trading has been minimal, we look at what has happened in the period and explain what needs to be filed and on what basis.

Can a newly incorporated company qualify for micro-entity accounts?

Some new companies do qualify, but it is not automatic and it is not determined by how recently the company was incorporated. Eligibility for the micro-entity framework depends on criteria assessed for the relevant accounting period, including turnover, balance sheet total and employee numbers. Where a company qualifies, FRS 105 is the financial reporting standard that applies to entities using the micro-entity framework. The appropriate framework should be confirmed from the company's own figures before the accounts are prepared, rather than assumed.

What happens if first-year accounts are filed late?

Failing to deliver accounts to Companies House by the applicable deadline can lead to consequences for the company, and the outcome depends on how late the filing is and the circumstances involved. It is not the case that every late filing attracts the same result, and paying any penalty does not remove the requirement to file the outstanding accounts. Where an appeal against a penalty is considered, eligibility depends on the specific circumstances and the applicable rules. If your company's first accounts are overdue, the practical step is to get the accounts prepared and filed as soon as possible.