─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Llantarnam, Prepared and Filed With Care

A newly incorporated company has one set of statutory accounts that tends to attract more questions than any other: its first. Preparing First Year Accounts for Limited Company in Llantarnam means turning the records you have kept since incorporation into a balance sheet, and a profit and loss account where applicable, that fairly reflects the company’s position for its first accounting period, then delivering those accounts to Companies House where required. We help directors in Llantarnam work through the practical side of that process — agreeing the accounting reference date, reviewing the bank transactions, invoices and other records behind the figures, confirming which reporting framework the company is eligible to use, and handling the Companies House filing itself. Corporation Tax sits in a different place. A CT600 or equivalent return is submitted to HMRC rather than Companies House, and the two obligations are dealt with separately, although the figures in your accounts will normally inform the tax position. If this is your company’s first accounting period, professional preparation at this stage makes the following years considerably easier to manage.

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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 302 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
      Posted on Google  
   
   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
      Posted on Google  
   
   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
      Posted on Google  
   
   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
      Posted on Google  
   
   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
      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 .

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 New Limited Companies in Llantarnam

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 is new. Once a company is incorporated, it has statutory accounts obligations, and those obligations generally apply whether or not the company has started trading, generated income or made a profit. The first accounting period usually begins on the date of incorporation, or on the date the company began trading where that is later, and it commonly ends on the company’s first accounting reference date. That first period is often longer or shorter than the twelve months a company will typically report on in later years, which is one reason first-year accounts are treated separately from the annual accounts that follow. The accounting reference date and the length of the period both feed into when the accounts need to be delivered to Companies House, and those dates are not identical for every company. The accounts themselves are built from the company’s accounting records. Depending on what the company has done during the period, that might include bank transactions, sales and income records, business expenses, purchase invoices, asset purchases, amounts owed to or by directors, share capital information and any loans or finance arrangements. Where the company has run payroll or registered for VAT, those records also form part of the picture. Accounts are then prepared with a balance sheet and, where applicable, a profit and loss account, along with the notes and statements required for the reporting framework the company uses. On reporting framework, it is worth being clear: a newly incorporated company is not automatically a micro-entity. Some companies will meet the eligibility requirements for the micro-entity framework, and FRS 105 is the financial reporting standard that applies to qualifying entities using it, but eligibility depends on the company’s circumstances and the requirements applicable to the relevant accounting period. The same applies to the small-company regime. We assess this with you rather than assuming it. Three obligations are frequently confused, so it helps to separate them. First-year statutory accounts are prepared for the company and delivered to Companies House where required. A Corporation Tax Return such as a CT600 is submitted to HMRC where the company has a Corporation Tax obligation, and the company’s Corporation Tax accounting period may not be identical to its statutory accounts period. A confirmation statement is a separate filing that keeps the company’s details on the public register up to date, and it is not replaced by filing accounts. Filing first-year accounts does not automatically settle any of the others. For directors in Llantarnam running a newly incorporated company, getting the first set right means the numbers, the framework and the filing position are all documented from the outset instead of being reconstructed later.

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 Sorted Before the Filing Pressure Builds

Most directors of a newly incorporated company can manage the trading side without much difficulty. What tends to cause uncertainty is the reporting side: which period the accounts should cover, what records are needed, which accounting framework the company can actually use, and what has to go to Companies House as opposed to HMRC. Micro Entity Accounts works with limited companies in Llantarnam on exactly that — preparing first-year statutory accounts from the records you hold, reviewing the figures with you before anything is filed, and managing the Companies House delivery where required. We will also flag where a Corporation Tax Return or confirmation statement sits alongside the accounts, so nothing is overlooked. If your company’s first accounting period has ended, or is approaching its end, speak to us before the filing date becomes urgent.

─── 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 statutory accounts a company prepares, covering its initial accounting period from incorporation, or from the date it began trading where that is later. They normally include a balance sheet and, where applicable, a profit and loss account, together with the notes and statements required by the reporting framework the company uses. Once prepared, they are delivered to Companies House where required.

When are first-year accounts due?

The deadline depends on the company's incorporation date and its accounting reference date, so it is not the same for every company. The first accounting period can also be longer than the twelve months used in later years, which affects how the filing date is calculated. We check the position for your company specifically and confirm the relevant date rather than applying a general rule of thumb.

What information do you need to prepare first-year accounts?

In most cases we ask for bank statements and transaction listings covering the period, sales and income records, business expenses and purchase invoices, details of any assets bought, share capital information, director loan movements, and any loans or finance agreements. Payroll and VAT records are relevant where the company has them. If the company has been quiet, we work with whatever records exist and explain what still needs to be put in place.

Do we still have to file accounts if the company has not traded?

A company generally still has statutory filing obligations even where it has had limited activity or has not yet commenced trading, so the obligation does not disappear simply because there is little to report. Whether the company is dormant for reporting purposes is a separate question that depends on its circumstances and the applicable rules, and we assess that before describing a company as dormant.

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 return, but the filings serve different purposes, go to different bodies and are handled separately. A company's first Corporation Tax accounting period may not be identical to its statutory accounts period.

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

Some new companies will meet the eligibility requirements for the micro-entity framework, and FRS 105 is the standard applicable to qualifying entities using it, but qualification is not automatic and it is not determined by incorporation date alone. Eligibility is assessed against the applicable requirements for the relevant accounting period. We review that with directors in Llantarnam before deciding which framework the accounts should be prepared under.

Does filing first-year accounts cover the confirmation statement as well?

No. A confirmation statement is a separate filing that keeps the company's registered details up to date, and it is not replaced by delivering accounts to Companies House. Filing accounts also does not complete a Corporation Tax Return or any VAT obligations the company may have. Each of these sits as its own compliance task, and we can tell you which ones apply to your company.

What happens if first-year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to consequences from Companies House, and the position can vary depending on how late the filing is and the company's filing history. Paying any penalty that arises does not remove the requirement to file the outstanding accounts. Where a company believes there is a valid reason for the delay, appeal eligibility depends on the circumstances and the applicable rules, and we can talk through the options.