─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Petersfield: Preparation and Filing Support

A company’s first accounting period is rarely straightforward. It often covers more than twelve months, it may include the period before trading began, and the figures have to be presented in a format Companies House recognises. Micro Entity Accounts works with directors of newly incorporated and newly trading limited companies in Petersfield to prepare that first set of statutory accounts properly — reviewing the accounting records behind the numbers, drafting the balance sheet and, where applicable, the profit and loss account, and delivering the accounts to Companies House where required. We also make the boundaries clear: if your company has Corporation Tax obligations, a CT600 is submitted separately to HMRC and is not the same filing as your Companies House accounts. Whether you are confident about the numbers or still working out what the first year involves, we can take the preparation and filing off your desk.

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First Year Accounts Preparation

(Turnover up to £100K)

£499.00

£399.00

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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 Does Your New Company Qualify?

First year accounts are the first set of statutory annual accounts a limited company prepares for its initial accounting period. That period 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. These accounts are not optional, and they cannot be postponed simply because trading has been slow to start. Incorporation itself creates filing responsibilities, even where activity in the first period has been limited. The length of the first period is worth checking rather than assuming. Depending on the incorporation date, and on whether the accounting reference date has been changed, the first accounting period may run for more or less than a typical twelve-month year. The deadline for delivering first accounts to Companies House is generally longer than the deadline that applies in later years, and it is worked out from the incorporation date rather than from the accounting reference date alone. Because of that, we confirm the applicable date for each company rather than applying one blanket rule to everyone. Once prepared, the accounts are delivered to Companies House where required. Corporation Tax is a separate matter. A limited company may also need to prepare and submit a Corporation Tax Return, such as a CT600, to HMRC, and the company’s first Corporation Tax accounting period does not always line up exactly with the statutory accounts period. Filing accounts with Companies House does not submit a CT600, and submitting a CT600 does not satisfy the accounts filing requirement. A confirmation statement is a third, separate filing, and filing first-year accounts does not replace it. Some newly incorporated companies are eligible to report under the micro-entity framework, preparing simplified accounts in line with FRS 105, the financial reporting standard applicable to qualifying entities using that framework. Eligibility depends on the company’s circumstances and the conditions that apply for the relevant accounting period, so it is a conclusion reached on the facts rather than an assumption made at incorporation. Not every new company is a micro-entity, and not every company with modest activity qualifies. Where the criteria are not met, a different reporting framework will apply. One point that does not change: directors remain responsible for making sure the company meets its statutory obligations, even when an accountant is engaged. Our role is to prepare, review and file the required information accurately and on time — the legal duty to ensure it happens stays with the board.

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 Petersfield Prepared Correctly

If your company’s first accounting period is drawing to a close and you are unsure what needs to be prepared, what has to be filed, or which reporting framework actually applies to you, that uncertainty is better resolved now than in the week a deadline falls. Micro Entity Accounts supports directors of newly incorporated limited companies in Petersfield with first-year statutory accounts — preparing the accounts from your records, flagging anything missing or unclear, and delivering them to Companies House where required. We will also set out where the other obligations sit, such as a Corporation Tax Return to HMRC or a confirmation statement to Companies House, so the accounts are not confused with filings that serve a different purpose. Send us what you have and we will tell you what is needed next.

─── 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 annual accounts a company prepares, covering the initial accounting period that runs from the date of incorporation to the company's first accounting reference date. They typically include a balance sheet, supporting notes and, where applicable, a profit and loss account, prepared in the format and under the reporting framework that applies to the company. Once finalised, they are delivered to Companies House where required. What makes them different from later years is mainly the length of the period they cover and the way the filing deadline is calculated.

When are first year accounts due for a newly incorporated company?

The deadline is not the same for every company. It depends on the incorporation date and the accounting reference date that Companies House set when the company was formed, and the period allowed for first accounts is generally longer than the period allowed in later years. If the accounting reference date has been shortened or extended, that affects the calculation too. Because of this, we confirm the specific date that applies to your company rather than quoting a general figure that may not be right for your circumstances.

What information is needed to prepare first year accounts?

It depends on what the company has actually done. In most cases we would look at bank transactions and statements, sales and income records, purchase invoices and business expenses, details of any assets bought, share capital information, director loans or other transactions with directors, and any finance or loan agreements. Where the company runs payroll or is VAT registered, those records are relevant as well. Companies with very little activity in their first period will have far less to provide — we only ask for what is needed to produce accurate accounts.

Does a newly incorporated company have to file accounts with Companies House?

Yes, a company formed in Petersfield or anywhere else in the UK will generally need to prepare and file statutory accounts for its first accounting period. That applies even where trading has been limited or has not started at all, and a company cannot treat the first year as exempt simply because it is new. If there have been no significant accounting transactions, the reporting position depends on the specific circumstances and the applicable rules rather than being automatically described as dormant. We look at the facts before advising on how the accounts should be presented.

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. The two filings have different purposes and go to different places, and completing one does not complete the other. The figures from the accounts are often used as a starting point when working out the company's Corporation Tax position, but the first Corporation Tax accounting period and the statutory accounts period do not always start and finish on the same dates, so both need to be considered separately.

Can a new limited company qualify for micro-entity accounts?

Some newly incorporated companies do qualify to report under the micro-entity framework and prepare simplified accounts under FRS 105, but it is not automatic. Eligibility depends on the company's circumstances and the conditions that apply for the relevant accounting period, and a company that does not meet them will need to report under a different framework. Low activity on its own does not settle the question. We assess eligibility as part of preparing the accounts and explain which framework applies and why.

Do I still need a confirmation statement if I file first year accounts?

Yes. A confirmation statement is a separate filing from first-year statutory accounts, and delivering the accounts to Companies House does not replace it. The confirmation statement confirms that the information Companies House holds about the company — such as its registered office, directors and shareholders — is correct, and it needs to be submitted when it falls due. Keeping that record up to date is a company obligation in its own right, alongside the accounts.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to consequences from Companies House, and the outcome depends on how late the filing is and the circumstances involved. Paying any penalty that arises does not remove the requirement to file the outstanding accounts, so the filing still has to be completed. Where an appeal against a penalty is considered, eligibility depends on the reasons for the delay and the rules that apply. Getting the accounts prepared and filed ahead of the deadline is always the simpler route, and we build that into how we work with directors on their first year.