─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Ottery St Mary, Prepared by Micro Entity Accounts

For a company that has only recently been incorporated, the first set of statutory accounts is usually the first significant piece of compliance work on the horizon. Preparing First Year Accounts for Limited Company in Ottery St Mary typically means pulling together the accounting records, checking the figures against supporting documents such as bank statements, invoices and share capital details, and preparing a balance sheet with a profit and loss account where the applicable framework requires one. Those accounts are then delivered to Companies House where required. Corporation Tax is a separate matter — a return such as a CT600 is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period may not line up exactly with its statutory accounts period. Micro Entity Accounts supports directors of newly incorporated and newly trading companies through the preparation, review and filing of their first accounts, with clear pricing and no hidden costs.

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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? Guidance for Limited Companies in Ottery St Mary

First-year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. That period normally begins on the date of incorporation and ends on the company’s first accounting reference date, which Companies House sets when the company is formed. Because of the way that date is calculated, a first accounting period often runs for slightly longer than twelve months, though this is not universal — the exact period depends on the incorporation date and on whether the accounting reference date is later changed. The filing requirements follow from those dates, and the first set of accounts is generally delivered to Companies House where required. It is worth being clear about what first-year accounts are not. They are not a Corporation Tax Return: a CT600 is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period and its statutory accounts period may not be identical. They are also not a confirmation statement, which is a separate filing that keeps the information on the Companies House register up to date. Preparing and filing first-year accounts does not, on its own, complete the company’s other compliance obligations. The reporting framework matters as well. Some companies may qualify as micro-entities and use the simplified framework set out in FRS 105, but eligibility has to be assessed against the applicable criteria for the relevant accounting period. It is not automatic for a newly incorporated company, and a company with low activity does not necessarily qualify. Where the micro-entity framework is not available, a different framework applies and the accounts are prepared accordingly. Whether a company is trading actively or has had limited activity so far, directors in Ottery St Mary still need to understand which obligations apply. The practical starting point is consistent: gather the accounting records, confirm the accounting period and accounting reference date, and prepare accounts that reflect the company’s actual position for that first period.

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.

First Year Accounts for Limited Company in Ottery St Mary — Accurate Preparation and Straightforward Filing Support

The first set of accounts is often the point where a director realises how much depends on getting the records and the reporting basis right, and it is common to be unsure whether the bank transactions, receipts and incorporation documents you hold are enough to work from. That uncertainty is reasonable, particularly when the accounting period runs longer than expected or the company has had little activity. Micro Entity Accounts helps directors of newly incorporated and newly trading limited companies in Ottery St Mary work through those records, prepare the statutory accounts on the appropriate basis, and deliver them to Companies House where required, while making clear where Corporation Tax reporting to HMRC fits in as a separate exercise. If you would rather not second-guess the framework or the figures, professional support gives you a properly prepared first set of accounts and a clearer view of your company’s position as you move into year two.

─── 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 for its initial accounting period. They usually cover the period from incorporation to the company's first accounting reference date and include a balance sheet, along with a profit and loss account where the applicable reporting framework requires one, plus the notes and directors' information that framework calls for. They are the company's formal record of its financial position for that first period, and where required they are delivered to Companies House.

When are first-year accounts due?

The date depends on the company's incorporation date and its accounting reference date, so it is not the same for every company. Companies House calculates the deadline from those dates, and a longer filing window is generally allowed for a first set of accounts than for later years. Rather than relying on a general rule, the sensible approach is to confirm the exact date that applies to your company, and we can check it as part of preparing the accounts.

What information is needed to prepare first-year accounts?

Usually your accounting records for the period: bank statements and transactions, sales and income records, purchase invoices and business expenses, details of any assets purchased, director transactions and loans, share capital information, and payroll or VAT records where those apply. Not every company will have all of these, and a company with limited activity may need very little. The aim is to gather what is genuinely relevant so the accounts reflect what actually happened during the period.

Do I need to file first-year accounts if the company has not traded?

Incorporation creates statutory obligations regardless of whether trading has started, so the position is not as simple as doing nothing because there is no income. Where a company has had no significant accounting transactions, its reporting obligations depend on its circumstances and the applicable rules — it is not automatically treated as dormant, and dormancy has its own criteria. Directors in Ottery St Mary whose company is incorporated but not yet trading should check what is required for their situation.

Are first-year accounts the same as a CT600?

No. First-year statutory accounts are prepared under an accounting framework and, where required, filed with Companies House. A Corporation Tax Return such as a CT600 is submitted to HMRC where applicable, and the company's first Corporation Tax accounting period may not be identical to its statutory accounts period. Information from the accounts is often used when preparing the company's tax position, but the two filings have different purposes and go to different bodies.

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

Some can, but not all. The micro-entity framework, set out in FRS 105, applies to entities that meet the applicable eligibility criteria for the relevant accounting period. Qualifying is not automatic simply because a company is new, and low turnover alone does not settle the question. Where a company does qualify, the reporting requirements are simplified; where it does not, a different framework applies and the accounts are prepared on that basis.

Do first-year accounts remove the need for a confirmation statement?

No. A confirmation statement is a separate filing from the statutory accounts. It confirms that the information Companies House holds — directors, registered office, share capital and similar details — is up to date, and it sits alongside the accounts rather than being replaced by them. Filing your first set of accounts does not satisfy the confirmation statement requirement, and filing a confirmation statement does not satisfy the accounts requirement.

What happens if first-year accounts are filed late?

If required accounts are delivered after the applicable deadline, Companies House can apply late filing consequences, which may include penalties that increase the longer the accounts remain outstanding. Paying a penalty does not remove the requirement to file the accounts. If accounts are already overdue, the priority is to get them prepared and delivered, and we can help you understand what applies in your circumstances.