─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

If your company has been incorporated recently, its first set of statutory accounts is one of the earliest formal milestones you will deal with. Micro Entity Accounts supports directors of newly incorporated companies in Prescot with First Year Accounts for Limited Company preparation — starting with a review of the accounting records you hold, such as bank transactions, sales records, expenses and any asset or director-related entries. The accounts are then prepared in the reporting framework that applies to your company and filed at Companies House where required. Where the company also has Corporation Tax obligations, those are handled separately with HMRC, and a CT600 is a different submission to a different authority. Whether the company has traded throughout the period or had very limited activity, we can help you understand what your first accounting period covers and what still needs to be done.

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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 Does Your New Limited Company Qualify?

First year accounts are the first set of annual statutory accounts a company prepares for its initial accounting period, which begins on the date the company was incorporated. They are not optional simply because the company is new. Once a company is registered, it has statutory reporting obligations, and the first accounting period normally runs from incorporation to the company’s first accounting reference date. That initial period is not always twelve months long, so the exact dates should be confirmed from your company’s own records before preparation begins. Some companies are able to prepare simplified accounts under the micro-entity framework, but this depends on whether the company meets the eligibility conditions for the relevant accounting period. Not every newly incorporated company qualifies, and modest turnover on its own does not automatically mean micro-entity treatment is available. Where the framework does apply, FRS 105 — the financial reporting standard for qualifying micro-entities — sets out the simplified format, which typically includes a balance sheet with limited notes. Where it does not apply, small company or fuller reporting requirements may be relevant instead, and the appropriate basis should be decided case by case. It also helps to keep three separate obligations in view. The first year statutory accounts are prepared for the company’s members and delivered to Companies House where required. A Corporation Tax Return such as a CT600 is submitted to HMRC, and the company’s first Corporation Tax accounting period may not be identical to its statutory accounts period. A confirmation statement is a further, separate filing confirming that the information Companies House holds about the company is up to date. Completing one of these does not complete the others, which is where directors of new companies in Prescot most often need guidance.

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 Prescot Prepared Correctly

A first set of statutory accounts tends to raise questions that are not always obvious — which reporting framework applies to your company, what the initial accounting period actually covers, and what still has to be filed separately at Companies House or with HMRC. Micro Entity Accounts works with directors of newly incorporated limited companies in Prescot to take that work off your hands: we review your accounting records, prepare the accounts, explain the basis on which they have been prepared and support you with filing them where required. If you would rather have your first year figures checked by someone who deals with new companies regularly, speak to us and we will talk through your position.

─── 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 after incorporation, covering its initial accounting period. They normally include a balance sheet, a profit and loss account where the applicable reporting framework requires one, and any supporting notes. The accounts are prepared from the company's accounting records and are generally delivered to Companies House where required. The directors remain responsible for making sure the accounts are prepared and filed properly, even when an accountant is engaged to help.

Do newly incorporated companies have to file accounts with Companies House?

In most cases a company registered at Companies House is expected to file its first statutory accounts once the relevant filing obligation applies. There are situations where activity has been minimal, and the correct approach depends on whether the company meets the criteria for dormant filing and on the applicable rules for the period — it should not be assumed that a quiet first period removes the requirement. If you are unsure where your Prescot company stands, it is worth checking early rather than after the period has ended.

When are my first year accounts due?

The due date depends on your company's incorporation date and its accounting reference date, and the first accounting period is not always the same length as later ones. Because the deadline is worked out from those dates, the exact date should be confirmed from your own company records rather than estimated. We can confirm which period is being reported on and the date by which the accounts need to be delivered.

What information do you need to prepare first year accounts?

Usually the company's accounting records for the period: bank statements and transaction listings, sales and income records, purchase invoices and business expenses, details of any assets purchased, share capital information, director loans or transactions, and any finance or loan agreements. Payroll records and VAT records are also relevant where the company has those. Some new companies have very little to provide, especially if trading has not started, and the accounts simply reflect the activity that actually took place.

Are first year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and filed at Companies House where required, while a CT600 Corporation Tax Return is submitted to HMRC where the company has Corporation Tax obligations. The figures in the accounts often inform the tax return, but they are separate documents with different purposes and different filing destinations. Filing one does not file the other, and a company's first Corporation Tax period may not match its statutory accounts period exactly.

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

Some newly incorporated companies do qualify, but it is not automatic for new companies or for companies with low turnover. Eligibility depends on whether the company meets the applicable conditions for the relevant accounting period. Where the micro-entity framework applies, accounts are prepared under FRS 105 in a simplified format. If it does not apply, small company or other reporting requirements may be relevant instead.

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

Yes, these are separate requirements. A confirmation statement confirms that the information Companies House holds — such as directors, the registered office, share capital and people with significant control — remains correct. Filing statutory accounts does not replace it, and the confirmation statement does not replace the accounts. New companies generally need to keep both up to date, along with any Corporation Tax filings due to HMRC.

What happens if first year accounts are filed late?

Companies House can apply late filing consequences where accounts are delivered after the applicable deadline, and the outcome depends on how overdue the filing is. Paying any penalty does not remove the requirement to file the outstanding accounts. If your accounts are overdue, the practical priority is usually to get them prepared and delivered as soon as possible. Where an appeal may be appropriate, eligibility depends on the circumstances and the applicable rules.