─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Chepstow — Professional Preparation and Filing Support

Reaching the end of a company’s first accounting period brings a set of statutory tasks that most directors have not handled before. Micro Entity Accounts prepares First Year Accounts for Limited Company clients in Chepstow, working from the records you hold to produce a balance sheet and, where applicable, a profit and loss account that reflect what has actually happened in the company. We can review your bookkeeping and supporting documents, flag anything missing before it becomes a problem, and file the statutory accounts with Companies House where required. Where the company also has a Corporation Tax obligation, we can help with the separate CT600 submission to HMRC, which is a different filing with a different destination. You get clear pricing, plain-English explanations and support from people who prepare new company accounts routinely.

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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 Chepstow Companies Need Them?

First-year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. They cover the period running from incorporation, or from the date the company began trading depending on the circumstances, up to the first accounting reference date. Companies House sets an accounting reference date when a company is incorporated, usually landing on the end of the month that marks the first anniversary of incorporation, and it is not unusual for a first accounting period to run for more or less than the twelve months covered in later years. That alone is why first accounts often catch directors out. Every company, including a newly incorporated one in Chepstow, is expected to keep adequate accounting records and prepare accounts for its members. Statutory accounts are then delivered to Companies House where required. A company may be able to use the micro-entity or small company reporting framework if it meets the applicable eligibility conditions for the relevant period, and FRS 105 is the standard used by qualifying entities preparing micro-entity accounts. Eligibility is assessed from the company’s own circumstances, so a new company is not automatically a micro-entity and FRS 105 does not automatically apply. It helps to separate three things that are frequently confused. First-year statutory accounts go to Companies House. A Corporation Tax Return, such as a CT600, goes to HMRC and is prepared as a separate exercise, even though the figures in the accounts often inform it. A confirmation statement is a third, separate filing that keeps the company’s public record up to date. Completing one of these does not complete the others.

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 Chepstow Prepared Properly

If your company has just reached the end of its first accounting period, the uncertainty is rarely about bookkeeping itself. It is usually about what actually has to be filed, in what form, and which framework the accounts should follow. Micro Entity Accounts works with directors of newly incorporated companies in Chepstow to prepare first-year accounts that are accurate, sensibly presented and submitted through the correct channel. We will look at what you already have, tell you what is still outstanding, confirm whether a simplified reporting framework may be available to your company, and keep the Companies House filing separate from any HMRC Corporation Tax work so the two do not get muddled. Directors remain responsible for the company meeting its statutory obligations, but you do not have to work out the first-year process on your own.

─── 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 a company's first set of annual statutory accounts, covering the initial accounting period from incorporation — or from when trading began, in some cases — up to the first accounting reference date. They typically include a balance sheet and, where applicable, a profit and loss account, along with the notes and statements required by the reporting framework the company uses. The accounts are prepared for the company's members and delivered to Companies House where required.

How is a company's first accounting period worked out?

It generally starts on the date of incorporation and ends on the company's first accounting reference date, which Companies House sets at incorporation and which normally falls at the end of the month marking the first anniversary. Because of this, a first accounting period can be longer or shorter than the twelve months covered in later years, and a change to the accounting reference date can shift it again. The first Corporation Tax accounting period can also differ from the statutory accounts period, which is why the two are considered separately.

When do first-year accounts need to be filed with Companies House?

The filing deadline is measured from the company's accounting reference date, and the rules applying to a first set of accounts can differ slightly from those applying to later years. The exact date depends on the incorporation date and the accounting reference date, so it is worth confirming the specific deadline for your company rather than assuming a standard date applies. Filing early leaves room to deal with anything the accounts preparation brings to light.

What information is needed to prepare first-year accounts?

Usually the company's accounting records: bank statements and transactions, sales invoices and income records, purchase invoices and expense receipts, details of assets purchased, director's loan movements, share capital information, and any loans or finance agreements. Payroll or VAT records matter where the company has them. A newly incorporated company may have only a handful of transactions, and accounts can still be prepared from that — what matters is having the records complete and reconciled before preparation begins.

Does a company that has not traded still need first-year accounts?

A newly incorporated company still has statutory filing obligations, even where activity has been limited or trading has not yet started. Whether accounts need to be filed, and in what form, depends on the company's circumstances and the applicable rules. A company with no significant accounting transactions is not automatically dormant — dormant status has its own conditions — so it is worth checking the position rather than assuming nothing needs to be filed. Directors in Chepstow who are unsure where their company stands can have that confirmed before a filing date arrives.

Are first-year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and filed with Companies House where required. A Corporation Tax Return such as a CT600 is submitted to HMRC and is a separate obligation with its own deadline and its own basis of calculation. Figures from the accounts often feed into the Corporation Tax position, but filing accounts does not submit a CT600, and submitting a CT600 does not satisfy the Companies House accounts filing. A confirmation statement is separate again.

Can a new limited company qualify for micro-entity accounts?

It may do, if it meets the eligibility conditions for the relevant accounting period. Micro-entity status is not automatic for new companies and does not follow simply from having low turnover — eligibility is assessed against the applicable criteria. Where a company does qualify, FRS 105 is the reporting standard used under the micro-entity framework, and the resulting accounts can be simpler than those prepared under a fuller framework. The appropriate framework is confirmed from the company's circumstances before preparation starts.

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 position can worsen the longer the accounts remain outstanding. The outcome is not identical in every case, and paying a penalty does not remove the requirement to file the outstanding accounts. Where accounts are already overdue, the usual priority is to prepare and file them, and then consider whether an appeal against a penalty is appropriate — eligibility depends on the circumstances and the applicable rules.