─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

If you have recently incorporated a limited company in Chorleywood, its first set of statutory accounts will need to be prepared for the initial accounting period and delivered to Companies House where required. Micro Entity Accounts supports directors through that process — reviewing the accounting records, preparing a balance sheet and, where applicable, a profit and loss account, and helping make sure the figures presented reflect the company’s position accurately. Corporation Tax is a separate matter: a CT600 is submitted to HMRC rather than Companies House, so the two obligations should be planned for independently, with the correct reporting framework confirmed before anything is filed.

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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?

First year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. That period begins on incorporation and runs to the company’s first accounting reference date, which Companies House sets when the company is registered. Because the first period often covers more than twelve months, the figures can look different from a normal annual set, and the filing deadline is calculated from the accounting reference date rather than from a fixed date after incorporation. The accounts themselves typically include a balance sheet, and where the applicable framework requires it, a profit and loss account and supporting notes. They are delivered to Companies House where required. This is not the same as a Corporation Tax Return — a CT600 is submitted to HMRC where the company has Corporation Tax obligations, and the company’s first Corporation Tax accounting period may not match its statutory accounts period exactly. A confirmation statement is a further, separate filing that keeps the public register up to date. Some newly incorporated companies in Chorleywood may meet the eligibility conditions for the micro-entity framework, in which case FRS 105 — the financial reporting standard for qualifying micro-entities — may be appropriate. Others may fall under the small company regime or need to report in fuller detail. Eligibility is not automatic and does not simply follow from having low turnover or being newly formed, so the correct framework should be confirmed for the specific accounting period in question.

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 Prepared by People Who Do This Every Day

The first set of accounts often catches directors out, because the accounting period is longer than expected, the reporting framework needs confirming, and the Companies House deadline is not always obvious from the incorporation paperwork. Micro Entity Accounts can review your records, prepare the statutory accounts for your first period and support the filing with Companies House where required, while keeping Corporation Tax and confirmation statement obligations clearly separated. If you are unsure what information you need to provide, or whether a simplified framework applies to your company, it is worth speaking to an accountant early — before the period closes rather than after the deadline has passed.

─── 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 produces, covering the initial accounting period from incorporation to the first accounting reference date. In most cases they include a balance sheet, and depending on the reporting framework and the company's circumstances, a profit and loss account and notes. Once prepared and approved by the directors, they are delivered to Companies House where required.

When are first year accounts due?

The deadline depends on the company's incorporation date and accounting reference date, so it is not the same for every company. Companies House sets the first accounting reference date at registration, and the first accounting period is often longer than twelve months, which affects both the reporting period and the filing deadline shown on the public register. We can confirm the applicable date for your company and work back from it.

What information is needed to prepare first year accounts?

It varies by company, but commonly includes bank statements and transactions, sales or income records, purchase invoices and expense receipts, details of any assets bought, director loan movements, share capital information, and any loans or finance arrangements. Where the company operates payroll or is VAT registered, those records are relevant too. A newly incorporated company with limited activity may only need a small amount of information, which we will confirm once we understand the position.

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

Generally yes, where the company is required to file accounts. This applies even if trading has been limited or has not yet started. It is a common misconception that nothing needs to be filed until the company is active. Where a company has had no significant accounting transactions, whether it can file dormant accounts depends on whether it meets the relevant criteria, rather than being an automatic position.

Are first year accounts the same as a CT600?

No. Statutory accounts are delivered to Companies House, while a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has Corporation Tax obligations. Information from the accounts is usually used when preparing the tax position, but the two filings serve different purposes and go to different places. The first Corporation Tax accounting period is generally no longer than twelve months, so it may not align exactly with the first statutory accounts period, and filing one does not complete the other.

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

It may, but eligibility must be assessed against the applicable requirements for the relevant accounting period. Being newly incorporated or having modest activity does not automatically make a company a micro-entity. Where the criteria are met, FRS 105 is the reporting standard used by qualifying micro-entities, which allows for a simpler set of accounts. If they are not met, the small company regime or a fuller framework may apply instead, and we will confirm which one fits your circumstances.

Do first year accounts replace the confirmation statement?

No, they are separate obligations. Filing first year accounts does not satisfy the confirmation statement requirement, and submitting a confirmation statement does not fulfil the accounts filing duty. A limited company may still need to confirm its registered details with Companies House on the applicable schedule and keep its records up to date. Directors in Chorleywood should treat the two as distinct items in the compliance calendar.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to consequences from Companies House, which typically increase the longer the accounts remain outstanding. Paying any penalty does not remove the requirement to file the outstanding accounts. Whether an appeal is possible depends on the circumstances and the applicable rules, so if a deadline has already passed, the priority is usually to prepare and file the accounts without further delay.