─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Torquay — Prepared, Reviewed and Filed

If you have recently incorporated a company and the end of your first accounting period is approaching, the first set of statutory accounts can feel like an unfamiliar milestone. Micro Entity Accounts supports directors of newly incorporated and newly trading limited companies in Torquay with preparing their first year accounts — often described as first statutory accounts or new limited company accounts — from the underlying accounting records through to delivering the accounts to Companies House where required. We start by reviewing what the company has actually done since incorporation: share capital introduced, bank transactions, income, expenses, asset purchases, director transactions and any other records that affect the figures. Those records are then used to build the balance sheet and, where applicable, a profit and loss account in the reporting format the company is eligible to use. Filing accounts with Companies House is only one part of a company’s compliance picture: a limited company may also need to prepare and submit a Corporation Tax Return such as a CT600 to HMRC, which is a separate filing with a separate destination and its own requirements. If you are unsure what your first accounting period covers or what needs to be filed, we can help you establish the position and work through it methodically.

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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 Do They Apply to You?

First year accounts are the first set of statutory annual accounts a limited company prepares for its initial accounting period. They are not optional and they are not a formality — every UK limited company has a legal duty to prepare accounts for each financial period and to deliver them to Companies House where required, even if the company has only recently been incorporated or has not yet started trading. In practice, the first-year exercise usually involves confirming the company’s accounting reference date, establishing exactly when the first accounting period begins and ends, gathering the accounting records, and then preparing figures that reflect what has genuinely happened in the company. Many directors in Torquay come to this point having set the company up, opened a business bank account and perhaps started invoicing, without giving much thought to what the accounts process will look like. The first accounting period is not always a neat twelve months. It depends on the incorporation date and the accounting reference date, and Companies House applies particular rules to a company’s first set of accounts. That is one of the reasons first year accounts are treated differently from the annual accounts a company files in later years. Because of this, it is worth checking your company’s position rather than assuming your first accounts run for a standard twelve-month period. Where a company meets the applicable eligibility criteria for the relevant accounting period, it may be able to prepare accounts under the micro-entity framework, using the financial reporting standard that applies to qualifying entities — FRS 105. Some companies instead fall within the small companies regime. Eligibility is not automatic and does not follow simply from having low turnover, being newly incorporated or being a startup. It is assessed against the conditions that apply for that period, and a company’s position can change from one period to the next. It is also important to keep three separate obligations in view. First-year statutory accounts are prepared for the members of the company and are 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 run to exactly the same dates as its statutory accounts period. A confirmation statement is a further, separate filing that keeps the company’s register information up to date at Companies House. Preparing first-year accounts does not automatically 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 Torquay Prepared Properly

First-year accounts tend to arrive sooner than directors expect, and much of the difficulty comes from not knowing what the company’s actual accounting period is or what records need to be pulled together. If that sounds familiar, Micro Entity Accounts can help. We work with directors of newly incorporated limited companies in Torquay to review the accounting records, confirm the reporting framework the company is eligible to use, prepare the first year accounts and support with filing them at Companies House where required. If your records are incomplete, or you are unsure whether the company needs to file at all, that is a sensible point to get a professional view rather than guesswork. Speak to us about your first accounting period and we will set out what is needed and how the process works.

─── 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 for its initial accounting period. They set out the company's financial position at the period end, generally through a balance sheet and, where applicable, a profit and loss account, together with any notes required by the reporting framework the company uses. These accounts are prepared for the company's members and are delivered to Companies House where required.

When are first accounts due to be filed?

The deadline depends on your company's incorporation date and its accounting reference date, and Companies House applies particular rules to a company's very first accounts. Because those rules are not the same as the ones that apply in later years, it is worth confirming your specific filing date rather than working from a general assumption. We can help you establish your company's first accounting period and the date its accounts are due.

What information is needed to prepare first year accounts?

Usually the accounting records for the period: bank statements and transactions, sales and income records, business expenses, purchase invoices, details of any assets bought, share capital information, director's loan transactions, and any loans or finance arrangements. Payroll records and VAT records are relevant where the company has them. Not every company will have all of these, and for a company with limited activity the list can be quite short.

Does a new limited company in Torquay have to file accounts with Companies House?

In most cases, yes. A newly incorporated company generally has an obligation to prepare accounts and to deliver them to Companies House where required, even where trading has been limited. Filing accounts with Companies House is separate from any Corporation Tax Return that may need to be sent to HMRC, and it is also separate from the confirmation statement.

Are first-year accounts different from the annual accounts filed later?

The principles are the same but the first period often works differently. The length of the first accounting period is determined by the incorporation date and the accounting reference date and is frequently not a full twelve months. Companies House also has specific provisions for a company's first accounts. Once that first period is out of the way, later periods typically follow a more predictable annual pattern.

Do first-year accounts need to be filed if the company has not traded?

The company's position depends on its circumstances and the applicable rules rather than on a general assumption. A company with no significant accounting transactions may still have Companies House filing obligations, and whether it can be treated as dormant for particular purposes is a separate question from whether accounts are due. It is worth checking your position rather than assuming nothing needs to be filed.

Are first-year accounts the same as a CT600?

No. First-year statutory accounts are prepared for the company and delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where the company is within the scope of Corporation Tax, and the two serve different purposes. Information from the accounts often feeds into the tax return, but filing accounts does not submit a CT600, and filing a CT600 does not satisfy the Companies House accounts requirement.

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

Some companies do qualify, but not automatically. Eligibility depends on the conditions that apply for the relevant accounting period, and it is not determined simply by being newly incorporated, by being a startup or by having modest turnover. Where a company does qualify, FRS 105 is the financial reporting standard used under the micro-entity framework, and it allows a simplified set of accounts. Where it does not qualify, another framework will apply.