─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Clanfield, Prepared and Filed With Professional Support

If you have recently incorporated a limited company in Clanfield, the company’s first set of statutory accounts will need to be prepared for its initial accounting period. That first year is often where directors have the most questions, because the accounting period may not follow a neat twelve-month pattern and the reporting framework has to be confirmed rather than assumed. Micro Entity Accounts supports newly incorporated companies through that process: reviewing the accounting records, preparing the statutory accounts, and delivering them to Companies House where required. Where a Corporation Tax Return such as a CT600 is also due, we can help you understand how that separate HMRC obligation sits alongside the accounts, so the company’s first year is dealt with on both fronts.

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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 When Might That Framework Apply to a Clanfield Company?

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 has only recently been incorporated. Every UK limited company, including those registered in Clanfield, has an accounting reference date and a period to report on, and the first set of accounts is built around that period rather than around a standard financial year. The first accounting period normally begins on the date of incorporation and runs to the company’s first accounting reference date. Because that can produce a period that is longer or shorter than a typical year, the figures in the first accounts may cover an unusual span of time. That is one reason directors often find the first year harder to interpret than later years, and why it helps to look at the records well before any filing date comes into view. On the reporting side, some newly incorporated companies may qualify for the micro-entity framework if they meet the applicable eligibility requirements for the relevant accounting period. Where a company does qualify, FRS 105 — the financial reporting standard that applies to qualifying entities using the micro-entity framework — allows for a simplified set of accounts. Qualification is not automatic, and it cannot be read off turnover alone. The appropriate framework depends on the company’s own circumstances and the rules in force for that period, so it is worth confirming rather than assuming. It is just as important to be clear about what first year accounts are not. They are separate from a Corporation Tax Return such as a CT600, which is prepared for HMRC, and separate again from a confirmation statement, which keeps the company’s information at Companies House up to date. Delivering statutory accounts to Companies House does not submit a CT600, and filing a confirmation statement does not complete the company’s accounts or Corporation Tax position. Each of those has its own purpose, its own destination and its own deadline.

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 Clanfield Prepared and Filed With Confidence

A company’s first accounting period tends to raise questions that general guidance does not fully answer: which dates the accounts actually cover, which records need to be pulled together, whether the micro-entity or small-company framework is available, and what genuinely has to be sent to Companies House. Micro Entity Accounts works with newly incorporated limited companies and their directors, including businesses based in and around Clanfield, to prepare first-year statutory accounts, review the underlying accounting records and support the filing process where required. If your company may also need to submit a Corporation Tax Return to HMRC, we can help you see how that separate obligation fits alongside the accounts rather than being confused with it. The first set of accounts sets the pattern for everything that follows, so it is worth having an experienced eye over the numbers and the filing requirements before the exercises become routine.

─── 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?

First year accounts are the first set of statutory accounts your company prepares for its initial accounting period, beginning with the date of incorporation and running to the company's first accounting reference date. They normally include a balance sheet and, where applicable, a profit and loss account and notes, and they are prepared under the reporting framework that suits the company's circumstances. They are a statutory requirement for a limited company, not an optional extra for companies that have started trading.

When do first year accounts need to be filed?

There is no single date that applies to every company, so a first-year deadline cannot be assumed. The filing deadline follows from your company's accounting reference date and the length of the first accounting period, both of which are determined when the company is incorporated. Because the first period can be longer or shorter than a normal financial year, the date is not always what directors expect. The sensible approach for a director in Clanfield or anywhere else is to check the deadline recorded for your own company and work back from there.

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 at bank statements and transaction listings, sales and income records, purchase invoices and expense receipts, details of any assets bought, share capital information, director transactions and any loans or finance agreements. Where the company runs payroll or is VAT registered, those records are relevant too. A company with limited activity will have a much shorter list than one that has been trading throughout the period, and we can confirm exactly what is needed once we understand your position.

Does a new limited company have to file accounts with Companies House?

Yes, a newly incorporated limited company generally has a statutory accounts obligation, and the accounts are delivered to Companies House where required. That is a separate matter from whether the company has traded, made a profit or generated any income during the period. Filing the accounts with Companies House also does not complete any Corporation Tax, confirmation statement or VAT obligations the company may have — those run on their own tracks.

Are first year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has a Corporation Tax obligation. The figures in the accounts often inform the tax computation, but the two filings have different purposes, different audiences and different deadlines, and completing one does not complete the other. It is also possible for the company's first Corporation Tax accounting period and its statutory accounts period not to be identical.

Does a company still need first year accounts if it has not started trading?

A limited company can still have statutory filing obligations even where activity has been limited or trading has not yet commenced. Where there have been no significant accounting transactions at all, the reporting position depends on the company's specific circumstances and the applicable rules rather than being automatically treated as dormant. It is worth checking the position properly before deciding that nothing needs to be filed, because dormant status has its own conditions.

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

It may be able to, but qualification is not automatic for new companies, startups or companies with low turnover. Micro-entity status depends on meeting the applicable eligibility conditions for the relevant accounting period, and where a company qualifies, FRS 105 sets out the simplified reporting that applies. If a company does not qualify, the small-company or full framework may be appropriate instead. The right answer depends on your company's own circumstances, which is something we can review with you.

What happens if first year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can result in consequences from Companies House, and those consequences can depend on how late the filing is and the type of company involved. Paying any penalty does not remove the requirement to file the outstanding accounts. If you believe there were valid reasons for a delay, the availability of any appeal depends on the circumstances and the applicable rules. Getting in touch before a deadline passes is always the simpler position to be in.