─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Carnforth: Professional Preparation and Filing Support

If your company has recently been incorporated and its first accounting period is drawing to a close, the first set of statutory accounts often raises questions a general accounting guide does not fully answer. Micro Entity Accounts supports directors of newly incorporated and newly trading limited companies in Carnforth with preparing First Year Accounts for Limited Company, reviewing the underlying accounting records, and delivering the accounts to Companies House where required. We consider how the company’s accounting reference date falls, what the first accounting period actually covers, and which reporting framework the company is eligible to adopt for that period. Where Corporation Tax is relevant, that is a separate obligation dealt with through HMRC, and we can explain how the figures in the statutory accounts feed into a CT600 rather than treating the two filings as a single exercise.

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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? A Practical Guide for New Limited Companies in Carnforth

First year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. They are not optional simply because the company is new, and they are not the same thing as a tax return. Once a company is incorporated, it has reporting responsibilities, and the first statutory accounts are part of how those responsibilities are met. The first accounting period normally begins on the date of incorporation and ends on the company’s accounting reference date, which is set when the company is registered. Because the first period often runs for longer than twelve months, the figures it contains can span a longer stretch of trading than later periods, which is one reason first year accounts sometimes need more careful preparation than directors expect. The accounting reference date, the incorporation date and the applicable Companies House requirements all influence what the first period covers and when the accounts are due. In practical terms, the accounts are built from the company’s accounting records: bank transactions, sales and income records, expenses and purchase invoices, asset purchases, director transactions, share capital details and any loans or finance arrangements. Where payroll or VAT records exist, they usually feed into the picture as well. From those records we prepare a balance sheet and, where applicable, a profit and loss account, alongside any notes and disclosures the chosen framework requires. Some companies may qualify to report under the micro-entity framework, and FRS 105 is the financial reporting standard applicable to qualifying entities using it. Eligibility depends on the company’s circumstances and the requirements that apply to the relevant accounting period, so it should be checked rather than assumed. A newly incorporated company is not automatically a micro-entity, and a low turnover figure alone does not settle the question. The same applies to the small-company regime, which has its own eligibility conditions. It is also worth separating the filings clearly. The statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period may not necessarily match its statutory accounts period. A confirmation statement is a further, separate filing that keeps the public register up to date. Completing one of these does not complete the others, and directors in Carnforth should treat each on its own terms.

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 Carnforth Prepared Accurately

The first set of accounts is easy to put off, particularly when the company has only recently started trading and the records are still taking shape. Working with someone who handles first-year statutory accounts regularly removes much of that uncertainty: the records are reviewed properly, the reporting framework is considered against the company’s circumstances, and the accounts are prepared and filed with Companies House where required. Micro Entity Accounts provides that support for newly incorporated and newly trading limited companies in Carnforth, with clear pricing and a straightforward explanation of what is needed from you. If you are unsure what falls inside the first accounting period, whether the micro-entity framework applies, or how the Companies House accounts fit alongside your separate Corporation Tax obligations, it is worth speaking to us before the deadline comes into view. Clear answers now are far easier to work with than corrections later.

─── 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, covering its initial accounting period. That period usually starts on the date of incorporation and ends on the company's accounting reference date, so it can be longer than the twelve months later periods typically cover. The accounts are drawn from the company's accounting records and normally include a balance sheet, and a profit and loss account where the applicable framework requires one, together with any supporting notes.

When are first accounts for a new limited company due?

It depends on the company's incorporation date and its accounting reference date, along with the requirements that apply to that first period. Because the first period can run longer than a standard year, the filing date is not always what directors expect, and it is not the same for every company. We check the specific position for your company rather than working from a general rule of thumb.

What information do you need to prepare first year accounts?

Most companies provide bank statements and transaction listings covering the whole period, sales and income records, purchase invoices and expense receipts, details of any assets bought, information on director transactions and loans, and share capital details. Where the company runs payroll or is VAT registered, those records are useful too. If you are unsure what is relevant, send what you have and we will tell you what else is needed — new companies rarely hold every document from day one.

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

A newly incorporated company generally has to deliver statutory accounts to Companies House where required, even if trading has been limited. The filing obligation is not something incorporation removes, and it does not depend on the company having made a profit or generated revenue. Where a company has had no significant accounting transactions, its reporting position depends on its particular circumstances and the applicable rules rather than being automatically treated as dormant.

Do we still need to file if the company has not traded?

Companies with limited or no activity often still have statutory filing obligations, and the position should be reviewed rather than assumed. If the company has genuinely had no significant accounting transactions, there may be options available, but these depend on the facts and the applicable rules. Directors remain responsible for making sure the correct position is identified and any required filing is made.

Are first year accounts the same as a CT600 or a confirmation statement?

No — they are separate requirements. Statutory accounts go to Companies House where required, while a Corporation Tax Return such as a CT600 goes to HMRC where applicable, and the company's first Corporation Tax accounting period may not align exactly with its statutory accounts period. A confirmation statement is a further filing that keeps the public register current. Filing the accounts does not automatically complete the CT600, the confirmation statement or any VAT obligations, and the reverse is also true.

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

Some companies may qualify for the micro-entity framework if they meet the applicable eligibility requirements for the relevant accounting period, and FRS 105 is the standard used by qualifying entities under that framework. Not every new company qualifies, and a low turnover figure on its own does not decide the matter. In Carnforth, we see a mix of trading companies, contractors and startups, and the appropriate framework is worked out from the company's own circumstances rather than assumed at the outset.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to consequences from Companies House, and the outcome is not necessarily identical in every case. Paying any penalty that arises does not remove the requirement to file the outstanding accounts. Where a company believes there were valid reasons for the delay, the availability of any appeal or remedy depends on the circumstances and the applicable rules.