─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Chulmleigh, Prepared Properly from the Start

Incorporating a company brings a set of filing duties that are easy to lose sight of during a busy first year. Alongside registering at Companies House, a newly incorporated or newly trading company is generally expected to prepare its first set of statutory accounts and deliver them to Companies House where required. Micro Entity Accounts supports directors in Chulmleigh through that process — reviewing the accounting records, preparing the balance sheet and profit and loss account where applicable, and explaining how the figures fit into the company’s wider compliance position. Where Corporation Tax applies, a CT600 is a separate submission to HMRC, and a confirmation statement remains a distinct Companies House filing.

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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 Guide for Chulmleigh Directors

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They are a legal requirement for companies that fall within the Companies House accounts regime, and they are not optional simply because the company is new or has traded only lightly. The accounts normally cover the period running from incorporation to the company’s first accounting reference date, although a first period can be longer than twelve months and the exact period depends on the incorporation date and the accounting reference date recorded at Companies House. For many directors in Chulmleigh, the practical questions are what the accounts need to contain and when they need to be delivered. A set of statutory accounts typically includes a balance sheet, and where the applicable framework requires it, a profit and loss account together with notes. The reporting framework that applies depends on the company’s size and circumstances for the relevant period. A company that meets the eligibility conditions may be able to prepare micro-entity accounts under FRS 105, the financial reporting standard for qualifying entities using the micro-entity framework, but not every newly incorporated company qualifies. Eligibility is assessed against the requirements rather than assumed, and the small-company or another framework may be the right fit in other cases. It is worth being equally clear about what first year accounts are not. They are separate from a Corporation Tax Return. A CT600 is submitted to HMRC where the company has Corporation Tax obligations, and the accounting period used for Corporation Tax may not be identical to the statutory accounts period. First year accounts are also separate from a confirmation statement, which confirms that the company’s registered details remain accurate. Delivering accounts does not settle any other filing duty the company may have, and it does not replace the need to keep accounting records in order. Directors remain responsible for ensuring the company meets its obligations, including maintaining adequate accounting records. We can assist with preparing, reviewing and, where required, filing those accounts with Companies House.

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 Chulmleigh Prepared with Professional Support

First year accounts have a habit of catching directors out. The company has been running for months, the records sit across a bank feed, a spreadsheet and a folder of receipts, and it is not obvious which reporting framework applies, what the first accounting period actually covers or what Companies House expects to receive. Micro Entity Accounts works with limited companies and their directors in Chulmleigh to prepare first year accounts, make sense of the underlying records and support the filing of those accounts with Companies House where required. Because clarity on cost matters when a young company is watching every expense, fees are set out upfront with no hidden extras. If you would rather start your compliance history on a firm footing, talk to us about your first year accounts.

─── 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 annual statutory accounts a company prepares for its initial accounting period. They cover the period running from incorporation, or from the start of the relevant accounting period, to the company's first accounting reference date, and they show the company's financial position at that date. Depending on the framework applied, they typically include a balance sheet plus a profit and loss account and supporting notes. Where required, they are delivered to Companies House.

How is the first accounting period worked out?

The first accounting period usually begins on the date of incorporation and ends on the company's first accounting reference date, which Companies House sets by reference to the incorporation date. That opening period can be longer than twelve months, and it does not always line up exactly with the period HMRC uses for Corporation Tax. The filing deadline is measured from the end of the accounting period rather than from the date the company was formed, which is one reason new directors are sometimes taken by surprise.

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

Generally yes, where the company falls within the Companies House accounts filing regime. Being recently incorporated, or having limited activity, does not by itself remove the obligation. 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. It is worth confirming the correct approach instead of assuming that nothing needs to be filed.

What information is needed to prepare first year accounts?

Typically we need incorporation details, share capital information, bank statements and transaction records, sales and income records, purchase invoices and receipts, details of any assets acquired or disposed of, loans or finance arrangements, director transactions and expense claims, and payroll or VAT records where the company has them. Not every company will have all of these, and the list is tailored to the company's circumstances once we understand what it has been doing since incorporation.

Are first year accounts the same as a CT600?

No. First year accounts are statutory accounts prepared for the company and delivered to Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC where the company has Corporation Tax obligations. They are separate filings, with different purposes and different destinations, although figures from the accounts often feed into the tax computation. Filing accounts does not submit a CT600, and filing a CT600 does not complete the Companies House accounts filing.

Can a new limited company prepare micro-entity accounts?

Some newly incorporated companies are eligible to prepare micro-entity accounts under FRS 105, the financial reporting standard for qualifying entities within that framework. Eligibility is assessed against the applicable criteria for the relevant accounting period and depends on the company's circumstances. It is not automatic for every new company, and a company that does not meet the conditions may need to report under the small-company framework or another basis instead. We can review your position and confirm which framework applies to you.

Does filing first year accounts replace the confirmation statement?

No, they are separate requirements. A confirmation statement is a Companies House filing that confirms the company's registered information, such as its directors, registered office and share capital, is up to date. Delivering first year accounts does not satisfy that duty, and submitting a confirmation statement does not satisfy the accounts filing obligation. A company in Chulmleigh may need to deal with both, and the two deadlines are calculated differently.

What happens if first year accounts are filed late?

Missing the applicable deadline can lead to consequences from Companies House, which may include late filing penalties that increase the longer the accounts remain outstanding. The outcome depends on the length of the delay and the company's filing history, so it is not identical in every case. Paying a penalty does not remove the requirement to file the outstanding accounts. If accounts are already overdue, acting promptly is usually best, and whether an appeal is possible depends on the circumstances and the applicable rules.