─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Tower Hamlets — Professional Preparation and Filing Support

Your company’s first set of statutory accounts arrives sooner than most directors expect, and it needs to be right. We work with newly incorporated and newly trading limited companies in Tower Hamlets to prepare their first-year accounts from the records they hold, review those records for gaps, and support the filing with Companies House where required. That includes drawing up the balance sheet and the profit and loss account where applicable, confirming the reporting framework that fits your company, and explaining how the first accounting period works for your incorporation date. Where your company also has Corporation Tax obligations, the CT600 is a separate submission to HMRC and is handled as a distinct piece of work, not bundled into the Companies House filing. Whether your first period has been busy or quiet, the accounts should reflect what actually happened.

🔥 SAVE £100.00

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 Tower Hamlets Limited Companies Qualify?

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 that can be parked until the company is more established. Every limited company has statutory accounts obligations from incorporation, and the first year is simply the first time the directors meet them — often while the business itself is still finding its feet. The first accounting period normally begins on the date of incorporation and runs to the company’s first accounting reference date, which Companies House sets when the company is formed. That initial period is often longer than twelve months, and because it is calculated from the incorporation date, two companies set up in the same week can still end up with different accounting reference dates and different filing deadlines. The company’s own Companies House record is the reliable starting point, not a general rule of thumb. It is also worth knowing that a company’s first Corporation Tax accounting period is set by HMRC and may not line up exactly with the statutory accounts period. Preparing the accounts means turning the accounting records into a structured set of figures: a balance sheet showing assets, liabilities and shareholders’ funds at the period end, a profit and loss account where applicable, and the notes and disclosures the applicable framework calls for. Directors are responsible for approving the accounts and for the information in them. Engaging an accountant supports that process and takes the drafting and filing work off your desk, but it does not move the legal responsibility away from the board. Some companies qualify to prepare accounts under the micro-entity framework, using the financial reporting standard FRS 105, which is the standard applicable to qualifying entities reporting as micro-entities. Qualification depends on meeting the eligibility criteria for the relevant accounting period, which generally consider turnover, balance sheet total and average employee numbers. It is not automatic for a newly incorporated company, it is not determined by low turnover alone, and a company with very little activity does not fall into the category by default. The right framework is confirmed against your company’s circumstances before anything is drafted. It also helps to be clear about what first-year accounts are not. They are not a Corporation Tax Return: a company may separately need to prepare and submit a CT600 to HMRC, and delivering accounts to Companies House does not achieve that. They are not a confirmation statement, which is a separate filing that keeps the public register current, and they are not a VAT return. They are not the bookkeeping records either, although the quality of those records has a direct bearing on how smoothly the accounts come together. Where required, the statutory accounts are delivered to Companies House, which records the filing; its role is not to approve the accounts or the way they were prepared.

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 Tower Hamlets Prepared Properly

Most directors of a newly incorporated company have not prepared statutory accounts before, and the questions tend to be practical ones: what does the company actually have to file, what happens if it has barely traded, which reporting framework applies, and which records need to be pulled together first. Micro Entity Accounts works with newly incorporated and newly trading limited companies on exactly those questions, preparing first-year accounts from your records and supporting the filing with Companies House where required. We will set out clearly what we need from you, explain how the accounting period and reporting framework apply to your company, and keep the fee structure transparent with no hidden costs. If you would rather not work through your first set of statutory accounts on your own, get in touch and we will 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 annual accounts your company prepares for its initial accounting period, covering the period from incorporation to the company's first accounting reference date. They usually include a balance sheet, a profit and loss account where applicable, and the notes and disclosures required by the reporting framework the company uses. They are built from the company's accounting records and, where required, delivered to Companies House. They are separate from a Corporation Tax Return and from a confirmation statement.

When are first-year accounts due to be filed?

The due date depends on your company's incorporation date and its accounting reference date, which Companies House sets when the company is registered. A first set of accounts is generally treated differently from later years when it comes to the filing period, so it is not safe to assume the same timing applies in year one as in year two. Check the company's Companies House record for the accounting reference date and the deadline that applies to your company, or ask us to confirm it for you.

What information is needed to prepare first-year accounts?

Broadly, the company's accounting records for the period: bank statements and transaction listings, sales and income records, purchase invoices and expense receipts, details of any assets purchased, share capital information from incorporation, director's loan movements, and payroll or VAT records where the company has them. Not every company will have all of these. The more complete the records, the fewer queries arise during preparation, and gaps are far easier to resolve early than in the days before a filing deadline.

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

In most cases, yes. A limited company has statutory accounts obligations from incorporation, and a first set of accounts is generally due for the initial accounting period. This filing sits separately from anything owed to HMRC, and it does not replace the company's confirmation statement or any Corporation Tax Return that may be required. Directors remain responsible for ensuring the filings happen, even when an accountant prepares the accounts on the company's behalf.

Do we still need to file first-year accounts if the company has not started trading?

There is often still a filing obligation even where activity has been limited, and having few or no significant transactions does not automatically make a company dormant. Whether dormancy treatment applies depends on the company's facts and the applicable rules, so the reporting position should be considered properly rather than assumed. If your company has been quiet since incorporation, we can look at the position and advise on what actually needs to be filed.

Are first-year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and filed with Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC where the company has Corporation Tax obligations. The figures in the accounts often feed into the tax return, but the two documents serve different purposes and go to different destinations. Filing one does not complete the other, and your first Corporation Tax accounting period may not match the statutory accounts period.

Can a newly incorporated company qualify for micro-entity accounts?

It may, if it meets the eligibility criteria for the relevant accounting period. Those criteria generally look at turnover, balance sheet total and average number of employees. Qualification is not automatic for a new company simply because it is small or newly formed, and FRS 105 does not apply to every limited company. We confirm the appropriate framework as part of preparing the accounts rather than assuming micro-entity treatment is available.

What happens if first-year accounts are filed late?

Companies House can apply consequences for late filing, and what applies depends on how late the accounts are and the company's filing history. Paying any penalty does not remove the requirement to file the outstanding accounts. If you are already past the date, the priority is to get the accounts prepared and submitted, and we can help with that. Whether a penalty can be appealed depends on the circumstances and the applicable rules.