─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Thornaby, Prepared Properly From the Start

Your first set of statutory accounts is a milestone, not a formality. Once a limited company is incorporated, its directors become responsible for preparing accounts covering the initial accounting period and for delivering them to Companies House where required. That process can feel unfamiliar the first time round, particularly for directors of newly incorporated companies in Thornaby who are still working out what an accounting reference date actually means in practice. Micro Entity Accounts prepares, reviews and files first year accounts for limited companies, turning bank transactions, sales records, expense invoices and director transactions into a properly structured balance sheet, with a profit and loss account where applicable. Where a Corporation Tax Return such as a CT600 is also due, we make clear that this is a separate submission to HMRC and not the same thing as the Companies House filing.

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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, and Which Thornaby Limited Companies Qualify?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They are not optional, and they cannot simply be set aside because the company is new or has only recently started trading. A company takes on statutory filing responsibilities from the moment it is incorporated, and those responsibilities include preparing accounts for the period and delivering them to Companies House where required. The first accounting period tends to work differently from later years. Rather than a standard twelve-month window, it runs from the date of incorporation to the company’s first accounting reference date, which is set when the company is registered. That means the first accounts may cover slightly more or slightly less than a full year, and the accounting reference date can be changed in some circumstances, subject to the applicable rules and Companies House requirements. It is worth confirming those dates against the company’s own register entry rather than assuming a pattern from another business. Eligibility for the micro-entity framework is a separate question. A company may qualify as a micro-entity if it meets the applicable eligibility conditions for the accounting period in question, and qualifying entities can prepare accounts under FRS 105, the financial reporting standard that applies to the micro-entity accounting framework. Not every newly incorporated company qualifies, and a start-up with modest activity does not automatically fall within the micro-entity regime. The appropriate framework depends on the company’s circumstances and the requirements that apply to the period being reported. It also helps to separate the filings that surround a company’s first year. The statutory accounts are delivered to Companies House where required. A Corporation Tax Return, usually a CT600, is submitted to HMRC where the company has Corporation Tax obligations, and the two filings can cover different periods and follow different timetables. A confirmation statement is another Companies House filing entirely, confirming that the company’s registered details remain correct. Preparing and filing first year accounts does not, on its own, complete any of the others.

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 Thornaby Right the First Time

Getting the first accounting period wrong is an easy thing to do when you are also running the business. Questions about the accounting reference date, which records to keep, whether the company qualifies for micro-entity reporting and what genuinely has to go to Companies House can sit unanswered for months. Micro Entity Accounts provides professional preparation and filing support for first year accounts, working through your accounting records with you, explaining the reporting framework that applies to your company and handling the filing where the accounts are required to be delivered. If you are a director of a limited company in Thornaby preparing its first set of statutory accounts, starting with a clear plan is far simpler than correcting one later.

─── 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 limited company prepares, covering the period from the date of incorporation to its first accounting reference date. They normally include a balance sheet and, where applicable, a profit and loss account, and they are delivered to Companies House where required. They are distinct from a Corporation Tax Return, which is submitted to HMRC, and from a confirmation statement.

How do I know when my company's first accounts are due?

The deadline depends on the company's incorporation date and its accounting reference date, which is set when the company is registered at Companies House. Because the first accounting period does not always run for a full twelve months, it is better to confirm the dates from the company's own Companies House record than to assume they follow the same pattern as another business. We check the relevant dates before any work is scheduled.

What information is needed to prepare first year accounts?

It varies from company to company, but typically we look at bank transactions, sales and income records, purchase invoices and expense receipts, asset purchases, director loans and expenses, share capital details and any loans or finance arrangements. Payroll records and VAT records are relevant where those registrations apply. Where a company has had little or no activity, the records needed will be far lighter, but an accurate record of what has and has not happened still matters.

Do newly incorporated limited companies have to file accounts with Companies House even if they have not traded?

A company still has statutory accounts responsibilities even if it has been quiet since incorporation, and the position depends on its circumstances and the applicable rules rather than being assumed. A company with no significant accounting transactions is not automatically treated as dormant, and dormancy has its own conditions. Accounts are generally prepared and filed where required, although the content may be simpler where activity has been limited.

Are first year accounts different from annual accounts?

They are the same type of statutory filing, but the first set covers the company's initial period. That period often runs from incorporation to the first accounting reference date and may be longer or shorter than twelve months. Later sets of accounts usually cover a standard twelve-month period ending on the accounting reference date.

Are first year accounts the same as a CT600?

No. Statutory accounts go 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. The figures in the accounts are often used when preparing the company's Corporation Tax position, but the two have separate purposes and destinations. The first Corporation Tax accounting period and the statutory accounts period may not necessarily be identical.

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

It can, but only if it meets the applicable eligibility requirements for the relevant accounting period. Qualifying entities may prepare accounts under the micro-entity framework using FRS 105. A newly incorporated company, or one with low turnover, does not automatically qualify, so eligibility should be assessed against the company's own circumstances rather than assumed.

What happens if first year accounts are filed late?

Failing to file required accounts by the applicable deadline can lead to Companies House consequences, and the outcome depends on how late the filing is and the company's filing history. Paying any penalty does not remove the requirement to file the outstanding accounts. Where an appeal is considered, eligibility depends on the circumstances and the applicable rules, so it is worth taking advice rather than assuming the outcome.