─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Chacewater, Prepared and Filed with Professional Support

Preparing First Year Accounts for Limited Company is one of the first statutory tasks a new director faces, and it often arrives sooner than expected. Income and costs may have started partway through the accounting period, director loans and share capital need to be recorded properly, and accounts still have to be prepared even where trading has been limited. We help newly incorporated and newly trading limited companies in Chacewater get this right — reviewing the accounting records, preparing the statutory accounts with a balance sheet and profit and loss account where applicable, and filing with Companies House where required. Where a Corporation Tax Return such as a CT600 is also due, that is a separate submission to HMRC and can be supported alongside the accounts work.

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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 Why Do New Limited Companies in Chacewater Need Them?

First-year accounts are the first set of annual statutory accounts that a limited company prepares for its initial accounting period. They are not optional simply because the company is new. From the moment a company is incorporated, it has statutory reporting duties, and the first accounts are usually the first substantive set of figures that directors have to present. The accounts are built from the company’s own accounting records and generally include a balance sheet, plus a profit and loss account and supporting notes where the applicable reporting framework requires them. Where required, those accounts are delivered to Companies House. The accounting period itself is set by the company’s accounting reference date, which is established around incorporation. For a brand-new company, the first accounting period is often longer than the twelve months that later periods usually follow, so the accounts may cover a slightly unusual span of time. That is one reason first-year accounts can feel less predictable than subsequent years, and why it is worth checking the company’s own dates on the Companies House record rather than assuming a standard timetable. Some newly incorporated companies may be eligible to report under the micro-entity framework, which allows a simpler form of accounts and is supported by FRS 105 — the financial reporting standard applicable to qualifying entities using that framework. Eligibility is not automatic and does not apply to every startup or every company with modest activity. It depends on whether the company meets the applicable eligibility requirements for the relevant accounting period. A company may instead fall within the small company regime, and in some cases the full framework is the right answer. The correct approach is decided case by case. It is also important to separate first-year statutory accounts from other compliance tasks. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, while statutory accounts are delivered to Companies House. The company’s first Corporation Tax accounting period and its statutory accounts period may not cover exactly the same dates, so the two should not be treated as interchangeable. A confirmation statement is a further, separate filing that keeps Companies House informed about the company’s officers, shareholders and registered details. Filing first-year accounts does not complete those obligations, and it does not mean the company’s wider compliance work is finished. Throughout all of this, directors remain responsible for the company meeting its statutory obligations, including keeping adequate accounting records and making sure filings are submitted on time. Engaging an accountant supports that process — it does not transfer the legal responsibility away from the board. Our role is to prepare, review and file the required information accurately, based on the records provided and the framework that applies to the company.

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 Chacewater Prepared Correctly

If your company has recently been incorporated, the first accounts deadline can feel vague, the records may be incomplete, and it is not always obvious whether the micro-entity framework is the right fit. Those are normal concerns for a new director, and they are far easier to resolve before the filing date approaches. Micro Entity Accounts provides professional preparation and filing support for first-year statutory accounts, working from your bank transactions, invoices, expense records and other supporting documents to build a set of accounts that reflects what actually happened in the period. We will confirm the reporting framework that applies to your company, explain what is required for Companies House and flag where a separate Corporation Tax Return or confirmation statement may also need attention. Clear pricing and straightforward communication come as standard. Speak to us about your first-year accounts and start your company’s reporting on a solid footing.

─── 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 for its initial accounting period. They are produced from the company's accounting records and normally include a balance sheet, along with a profit and loss account and notes where the applicable reporting framework requires them. Where required, these accounts are delivered to Companies House. Directors stay responsible for making sure the filing obligation is met, even where an accountant prepares the figures.

When are first-year accounts due?

There is no single answer that applies to every company. The due date is worked out from the company's incorporation date and its accounting reference date, and the first accounting period is often longer than the twelve months that later periods typically cover. The safest approach is to check the company's own Companies House record and confirm the date from there. If you are unsure what applies to your company, we can review the dates with you.

What information is needed to prepare first-year accounts?

It depends on what the company has actually done during the period. Typically we would look for bank statements and transaction listings, sales and income records, purchase invoices, business expense receipts, details of any assets bought, share capital information, director loan transactions and any loans or finance arrangements. If the company runs payroll or is VAT registered, the relevant records are useful too. Not every company will have all of these.

Do newly incorporated companies have to file accounts with Companies House, and is that the same as a confirmation statement?

Where the filing requirements apply, a limited company must deliver statutory accounts to Companies House for its accounting period, even if activity has been limited. A confirmation statement is a completely separate filing that updates Companies House on officers, shareholders and registered details. Filing first-year accounts does not replace the confirmation statement, and submitting a confirmation statement does not satisfy the accounts requirement.

Are first-year accounts the same as a CT600 Corporation Tax Return?

No. Statutory accounts are delivered to Companies House, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. Figures from the accounts are often used when working out the company's Corporation Tax position, but the two filings have different purposes and go to different places. The company's first Corporation Tax accounting period and its statutory accounts period may not cover identical dates.

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

A company may still have statutory filing obligations even where there has been little or no activity, so it is not safe to assume nothing needs to be done. Where a company has had no significant accounting transactions, the correct reporting position depends on its circumstances and the applicable rules rather than being automatically treated as dormant. It is worth taking advice before deciding which route applies.

Can a new company in Chacewater qualify for micro-entity accounts?

Some newly incorporated companies do qualify for the micro-entity framework, which allows simplified accounts under FRS 105. It is not automatic. Eligibility depends on whether the company meets the applicable requirements for the relevant accounting period, which are based on criteria such as turnover, balance sheet total and employee numbers. A company that does not qualify may still fall within the small company regime, so the framework should be confirmed before the accounts are prepared.

What happens if first-year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to Companies House consequences for the company and its directors, and the position can worsen the longer the accounts remain outstanding. Paying any penalty does not remove the requirement to file the accounts. Whether an appeal is available depends on the circumstances and the applicable rules. If you think your first accounts may be overdue, it is best to deal with it promptly rather than wait.