─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Penrith — Prepared, Reviewed and Filed with Support

A newly incorporated company has a statutory accounts obligation to deal with, and it usually arrives sooner than directors expect. Micro Entity Accounts works with directors of newly incorporated and newly trading limited companies in Penrith to prepare their First Year Accounts for Limited Company — reviewing the accounting records you hold, such as bank transactions, sales and expense records, asset purchases and share capital details, then preparing a balance sheet and, where applicable, a profit and loss account for the first accounting period. Once the accounts are prepared and the directors have approved them, they are filed with Companies House where required. If the company also has Corporation Tax obligations, a CT600 and any related submissions are handled separately with HMRC, and the appropriate reporting framework — micro-entity, small company or otherwise — is confirmed against the company’s eligibility and circumstances.

🔥 SAVE £100.00

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 New Limited Companies in Penrith

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. That period generally starts on the incorporation date and ends on the company’s first accounting reference date, although the length of a first period can vary, and the accounting reference date can be changed in certain circumstances. The applicable filing deadline therefore depends on the company’s own incorporation date, accounting reference date and the Companies House requirements in force — it is not the same for every company. Preparing accounts is not something a company can set aside simply because it is new. A limited company incorporated in Penrith, like any other UK limited company, is expected to prepare statutory accounts for its accounting period and to deliver them to Companies House where required, even where activity has been limited. Some companies may be able to use the micro-entity accounting framework if they meet the eligibility conditions for the relevant accounting period. That framework is set out in FRS 105, the financial reporting standard applicable to qualifying entities using the micro-entity regime, and it allows a simplified balance sheet with restricted disclosures. Eligibility is not automatic. A company is not a micro-entity merely because it is newly incorporated, small or lightly traded, and a company with modest turnover does not automatically qualify either. The right framework should be confirmed from the company’s circumstances and the requirements applying to that period before any accounts are prepared. It is just as important to be clear about what first year accounts are not. They are not a Corporation Tax Return. A CT600 is submitted to HMRC where the company has Corporation Tax obligations, and the company’s first Corporation Tax accounting period may not be identical to its statutory accounts period, so the two are calculated and filed separately. First year accounts are also not a confirmation statement, which is a distinct annual filing that confirms the company’s details on the public register. Similarly, filing accounts does not settle VAT Returns, payroll or bookkeeping obligations, each of which stands on its own. Statutory accounts are delivered to Companies House where required. Companies House does not prepare a company’s accounts, does not assess whether they were put together professionally and does not approve them. Directors remain responsible for ensuring the company meets its statutory obligations, including keeping adequate accounting records and approving the accounts, even when an accountant has been engaged to prepare and file them.

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 Penrith Prepared Accurately and Filed Correctly

If you have recently incorporated a company and are unsure what your first accounts should include, which accounting framework applies or how the Companies House filing fits alongside your other obligations, you are not alone — this is one of the most common questions directors raise in the first year. Micro Entity Accounts can review your records, prepare your statutory accounts, confirm the framework that suits your circumstances and support you with filing at Companies House where required, while making clear which tasks, such as a CT600 or confirmation statement, sit separately. If you are a director in Penrith looking for clear, transparent support with your first set of company accounts, get in touch and we will talk through where your company stands.

─── 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 your company prepares for its initial accounting period, covering the period from incorporation (or from the start of the accounting period) to the first accounting reference date. They normally include a balance sheet and, where applicable, a profit and loss account, along with the required notes and statements. In later years the company prepares accounts for each successive accounting period, but the first set is based on that opening period, which may be longer or shorter than twelve months depending on the incorporation date and the accounting reference date.

When are first year accounts due to be filed?

The deadline depends on your company's incorporation date, its accounting reference date and the Companies House filing requirements that apply to it. There is no single deadline that fits every newly incorporated company, which is why it is worth checking your company's own position rather than working from an assumed date. Once the first accounting period has ended, the filing window runs from that period end, and the exact date is set by reference to the company's records at Companies House. We can help you confirm the position for your company and plan the work so the accounts are ready in good time.

What information is needed to prepare first year accounts?

It depends on what your company has actually done since incorporation. Typically we would look at bank statements and transactions, sales and income records, purchase invoices and business expenses, asset purchases, share capital details, any director's loan or other loan activity, and stock or work in progress where relevant. If the company runs payroll or is VAT registered, those records are useful too. If some of these do not apply to your company, that is fine — the accounts are built from the transactions that exist, not from a checklist of records every company is assumed to hold.

Does a newly incorporated company have to file accounts with Companies House, even if it has not traded?

A limited company is generally expected to prepare accounts for its accounting period and to deliver them to Companies House where required, and a company with limited or no trading activity does not automatically escape that. Whether a company can be treated as dormant, and what it needs to report, depends on its specific circumstances and the applicable rules rather than on simply having had a quiet year. If your company in Penrith has seen little or no activity since incorporation, it is worth reviewing the position properly so the correct filing is made.

Are first year accounts the same as a CT600 Corporation Tax Return?

No. Statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has Corporation Tax obligations. They serve different purposes and go to different places, and filing one does not complete the other. The figures in the accounts are often used as the starting point when preparing the Corporation Tax position, but the company's first Corporation Tax accounting period may not be identical to its statutory accounts period, so both should be reviewed separately.

Can a new limited company qualify for micro-entity accounts and use FRS 105?

It may do, but not automatically. Micro-entity reporting under FRS 105 is available to companies that meet the eligibility conditions for the relevant accounting period. Being newly incorporated, small or lightly traded does not by itself make a company a micro-entity, and a company that meets the thresholds in one period may not meet them in the next. The appropriate framework should be determined from your company's circumstances and the applicable requirements before the accounts are prepared.

Do first year accounts replace the confirmation statement or other filings?

No. A confirmation statement is a separate annual filing that confirms the company's information on the Companies House register, and it is not replaced by filing accounts. Equally, filing your first accounts does not complete any VAT Returns, payroll submissions or Corporation Tax filings the company may have. Each obligation has its own purpose and its own deadline, so it is sensible to keep track of them together even when they are handled separately.

What happens if first year accounts are filed late?

If required accounts are not filed by the applicable deadline, Companies House can apply consequences, and the outcome can vary depending on how late the filing is and the company's history. Paying any penalty does not remove the requirement to file the outstanding accounts — the filing still has to be made. Where a penalty has been issued, whether it can be appealed depends on the circumstances and the applicable rules. The most practical step is to get the accounts finalised and filed, and we can support you with that process.