─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Otley, Prepared and Filed with Micro Entity Accounts

Getting First Year Accounts for Limited Company obligations right from the start saves a good deal of correction later. Micro Entity Accounts works with directors of newly incorporated and newly trading companies in Otley on exactly that task: gathering and reviewing the accounting records behind the figures, preparing the first-year statutory accounts in the reporting framework that actually applies, and delivering them to Companies House where required. Alongside the balance sheet, and the profit and loss account where one applies, we check that the period, the disclosures and the supporting records line up. Corporation Tax sits separately — if a CT600 is due, it is submitted to HMRC, not to Companies House — and we help directors see how the two obligations relate without treating them as a single 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 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, and Would Your Otley Company Qualify?

First-year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. That period starts from incorporation, or from the date the accounting period is treated as beginning, and runs to the company’s first accounting reference date. They are not optional, and they are not skipped simply because the company is new, has traded lightly or has yet to invoice a customer. Every limited company has an accounting reference date, and that date anchors the whole exercise. A first period often runs for longer than twelve months, but the exact start and end dates depend on the incorporation date and the accounting reference date Companies House holds, so it is worth confirming rather than assuming. It also matters because the company’s first Corporation Tax accounting period and its statutory accounts period do not always fall on identical dates. The accounts themselves are built from the company’s accounting records. Depending on what the company has done, that may include bank transactions and statements, sales and income records, expense records and purchase invoices, asset purchases, director transactions and loans, share capital information, and payroll or VAT records where those apply. From that information, a balance sheet is prepared, together with a profit and loss account where applicable and the notes required for the framework being used. Some newly incorporated companies meet the eligibility conditions for the micro-entity framework, which uses the financial reporting standard FRS 105, or for the small-company framework. Eligibility is not automatic. It is assessed against the applicable criteria for the relevant accounting period, so a company with limited activity in its first year does not necessarily qualify, and a company that qualifies early on may not continue to. The appropriate framework should be confirmed from the company’s own circumstances before any figures are drafted. It helps to keep first-year accounts distinct from the other filings that sit around them. Statutory accounts are delivered to Companies House where required. A Corporation Tax Return such as a CT600 is submitted to HMRC where applicable, and filing accounts does not submit a CT600, just as filing a CT600 does not complete the Companies House filing. A confirmation statement is separate again and keeps the public register up to date. Directors remain responsible for making sure each requirement is met, even where an accountant prepares and files the paperwork on the company’s behalf. Preparing first-year accounts does not, by itself, complete the company’s Corporation Tax, confirmation statement, VAT or other obligations.

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 Otley Prepared Correctly

Most directors who contact us in Otley are not worried about the accounting itself — they are worried about missing something. Is the accounting period right? Do the records cover everything the accounts need? Has a filing been overlooked because the company has barely traded? Micro Entity Accounts deals with those questions routinely: reviewing the records you hold, preparing first-year statutory accounts in the framework that fits your company, and handling delivery to Companies House where required, while keeping the separate HMRC position clearly in view. If your first accounting period is approaching, or has already ended and you are unsure what comes next, speak to us and we will work through it with you.

─── 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 limited company prepares, covering its initial accounting period from incorporation, or the start of that period, through to its first accounting reference date. They typically include a balance sheet, the notes required by the applicable framework and, where relevant, a profit and loss account, all prepared from the company's accounting records. They are a Companies House filing rather than a tax filing.

When are first accounts for a new limited company due?

It depends on the company's incorporation date and its accounting reference date, which is why a single date cannot be applied to every new company. Companies House applies specific rules to a first accounting period, and that period is often longer than twelve months. Rather than work from an assumption, check the company's own record at Companies House or ask us to confirm the position for your company. First-year dates differ from later ones, so it is worth checking well before the period ends.

What information is needed to prepare first-year accounts?

Usually the incorporation details and share capital information, bank statements or transaction listings covering the period, sales and income records, expense records and purchase invoices, details of any assets bought, transactions with directors such as loans, and any finance agreements. If the company has operated payroll or is VAT registered, those records are relevant too. A company with very little activity needs correspondingly less, but it still needs the records that show what did happen during the period.

Does a limited company still have to file accounts with Companies House if it has not started trading?

Statutory filing obligations do not disappear simply because trading has not begun. A company may still need to file accounts, depending on its circumstances and the rules that apply to it. Where there have been no significant accounting transactions, the company's reporting position needs to be considered individually rather than assumed — it is not automatically dormant, and treating it that way without checking can create problems further down the line. Directors of newly formed Otley companies often find it useful to confirm this before the period closes.

Are first-year accounts the same as a CT600?

No. Statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. Information from the accounts is often used when working out the company's Corporation Tax position, but the two filings have different purposes and different destinations. Completing one does not complete the other, and the company's first Corporation Tax accounting period may not match its statutory accounts period exactly.

Can a newly incorporated company qualify for micro-entity accounts or FRS 105?

Some do, but not all. The micro-entity framework, which uses FRS 105, and the small-company framework each have eligibility conditions that must be tested against the company's circumstances for the relevant accounting period. A newly incorporated company with limited activity does not qualify automatically, and a company that qualifies in one period may not qualify in the next. The right framework should be established before the accounts are prepared, because it affects what the accounts include.

Do first-year accounts replace the confirmation statement or later annual accounts?

No. First-year accounts cover the company's initial accounting period only, and later periods have their own annual accounts and their own dates to work to. A confirmation statement is a separate filing that keeps the information on the public register current, and it is not replaced by submitting accounts. Directors need to keep track of each obligation independently, even when an accountant handles the preparation.

What happens if first-year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to Companies House consequences, and those consequences typically grow the longer the accounts remain outstanding. The exact position depends on the circumstances and how late the filing is. Paying any penalty does not remove the requirement to file the outstanding accounts, so if a first-year filing is already overdue, the priority is to get the accounts prepared and delivered. Where an appeal is being considered, eligibility depends on the specific circumstances and the applicable rules.