─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

Professional First Year Accounts for Limited Company in St Andrews

The first set of statutory accounts a limited company produces tends to raise more questions than any other filing. Micro Entity Accounts works with newly incorporated and newly trading companies in St Andrews to prepare those first-year accounts properly, beginning with a review of the accounting records you already hold — bank transactions, sales and income records, business expenses, purchase invoices, asset purchases, share capital details and any director transactions. From there we prepare the balance sheet and, where applicable, the profit and loss account, and deliver the accounts to Companies House where required. Corporation Tax is a separate matter: a company may also need to prepare and submit a CT600 to HMRC, and that return is not the same thing as filing accounts with Companies House. If you are unsure how your first accounting period works or what has to be filed, we can go through it before anything is submitted.

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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 300 reviews 
    
 
 
 
   
 
 
       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 .
  
 
      Posted on Google  
   
   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
      Posted on Google  
   
   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
      Posted on Google  
   
   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

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? A Guide for New Directors in St Andrews

First year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. They are not optional simply because the company is new. Once a company is incorporated, it has reporting obligations, and the first accounting period normally runs from the incorporation date up to the company’s first accounting reference date. That period does not always mirror the pattern of later years, so it is worth checking the specific dates that apply to your company rather than assuming the first deadline matches the annual one. The accounts themselves are built from the company’s accounting records. Depending on what the company has done since incorporation, that might include bank statements and transactions, sales and income records, purchase invoices, business expenses, asset purchases, share capital information, loans or finance arrangements, and details of any transactions with directors. Payroll and VAT records are relevant where the company has registered for those. A balance sheet is always part of the picture, and a profit and loss account is included where applicable, along with any notes the chosen reporting framework requires. Some companies may qualify for the micro-entity accounting framework, which uses the financial reporting standard known as FRS 105, if they meet the eligibility requirements for the relevant accounting period. That is not automatic, and a newly incorporated company is not a micro-entity by default. Whether the micro-entity or small-company framework fits depends on the company’s circumstances and the rules applying to that period, and it is something worth confirming before preparation begins. It also helps to be clear about what first-year accounts are not. They are distinct from a Corporation Tax Return such as a CT600, which is submitted to HMRC and serves a different purpose. The first Corporation Tax accounting period and the statutory accounts period do not necessarily cover exactly the same dates. A confirmation statement is separate again — it confirms the company’s registered details with Companies House and does not replace the accounts. Filing first-year accounts does not, by itself, settle any of those other obligations. The accounts are normally delivered to Companies House where required, and the company’s directors remain responsible for making sure the filing happens.

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 St Andrews Prepared Properly

Most directors of a newly incorporated company reach the same point: the accounting reference date is approaching, the records are scattered across bank statements, invoices and spreadsheets, and it is not obvious which reporting framework applies or what actually needs to go to Companies House. Micro Entity Accounts provides first-year accounts preparation and filing support for limited companies in St Andrews, working from the records you have and explaining the position on your accounting period, your filing obligations and, where relevant, the separate Corporation Tax requirements handled through HMRC. Fees are set out clearly and transparently, so you know what is included before work starts. If your company is approaching its first set of statutory accounts and you would rather have them reviewed and prepared by someone who deals with new companies regularly, get in touch and we can take it from there.

─── 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 accounts your company prepares, covering its initial accounting period. That period is based on the company's incorporation date and its accounting reference date, so it can be shorter or longer than the twelve-month periods used in later years. The accounts are drawn up from your accounting records and normally include a balance sheet and, where applicable, a profit and loss account and supporting notes. They are then delivered to Companies House where required.

When are first-year accounts due?

The filing deadline depends on your company's incorporation date and accounting reference date, and Companies House applies different rules to a first set of accounts than to later ones. Because those dates vary from company to company, there is no single answer that applies to every new limited company. We can look at your specific dates and confirm what applies to your company before preparation begins.

What information do you need to prepare first-year accounts?

It depends on what your company has done since incorporation. Typically we would look at bank statements and transactions, sales or income records, purchase invoices and expense receipts, details of any assets bought for the business, share capital information, loans or finance arrangements, and any transactions between the company and its directors. Payroll records and VAT records are relevant where the company has registered for those. If you are missing something, tell us early so we can work out how to handle it.

Does a new limited company have to file accounts if it has not started trading?

A company can still have statutory filing obligations even where activity has been limited or trading has not yet begun. Whether a company is treated as dormant, non-trading or something else depends on its circumstances and the applicable rules, and it is not a decision to make by assumption. If your company has had little or no activity, it is worth checking the position rather than leaving the accounts unfiled.

Are first-year accounts the same as a CT600?

No. First-year statutory accounts are prepared for the company's reporting obligations and are normally filed with Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, and the first Corporation Tax accounting period may not cover exactly the same dates as the statutory accounts period. The figures from the accounts are often used when preparing the tax position, but the two filings have different purposes and go to different places.

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

Some companies can, if they meet the eligibility requirements for the relevant accounting period. Being new does not automatically make a company a micro-entity, and a low level of activity does not automatically mean the micro-entity framework applies either. Where a company does qualify, FRS 105 is the standard used under that framework, which allows simplified accounts. The right framework for your company should be confirmed against the applicable criteria rather than assumed.

Is a confirmation statement part of the first-year accounts?

No. A confirmation statement is a separate filing that confirms your company's registered details at Companies House, such as directors, registered office and share information. It does not replace the annual accounts and the accounts do not replace it. A limited company in St Andrews may need to submit a confirmation statement alongside its accounts obligations, so it is worth keeping both in view.

What happens if first-year accounts are filed late?

Failing to file required accounts by the applicable deadline can lead to consequences from Companies House, and those consequences are not identical in every case. Paying any penalty does not remove the requirement to file the outstanding accounts — the filing still has to be made. Where a company believes there were valid reasons for the delay, whether an appeal is possible depends on the circumstances and the applicable rules, and any appeal would need to be considered on its own facts.