─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Watchet — Prepared Properly, Filed Where Required

A company’s first set of statutory accounts is unlike the routine that follows. It covers the initial accounting period, it is usually a director’s first experience of Companies House accounts filing, and the figures reported in the balance sheet — and in a profit and loss account where applicable — come from the accounting records kept since incorporation. Micro Entity Accounts prepares First Year Accounts for Limited Company directors in Watchet and handles the supporting work around them, from reviewing bank transactions, sales records, purchase invoices, asset purchases and director transactions through to producing the statutory accounts and delivering them to Companies House where required. We can also explain whether the micro-entity or small-company reporting framework may be available if your company meets the applicable eligibility conditions, and how that decision affects what the accounts look like. Corporation Tax is a separate matter: a CT600 is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period is not always identical to its statutory accounts period.

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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?

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 a financial year for Companies House purposes, and annual accounts covering that period are generally prepared and delivered to Companies House where applicable. The first accounting period usually begins on the date of incorporation and ends on the company’s accounting reference date, although the length of that period and the exact filing position depend on the company’s own circumstances and the applicable Companies House requirements. Directors in Watchet dealing with a first filing can check the accounting reference date recorded on the public register rather than relying on an assumption. Some newly incorporated companies may qualify to prepare accounts under the micro-entity framework, which permits a simplified balance sheet and limited disclosures and is set out in FRS 105, the financial reporting standard applicable to qualifying micro-entities. Eligibility depends on whether the company meets the applicable conditions for the relevant accounting period, so it is worth confirming rather than assuming — a new company is not automatically a micro-entity, and a company that qualifies in one period may not qualify in the next. Where the micro-entity framework is not available, small-company or full reporting may be more appropriate. It also helps to keep first-year statutory accounts distinct from the company’s other obligations. Statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted separately to HMRC where applicable, and the company’s first Corporation Tax accounting period may not line up exactly with its statutory accounts period. A confirmation statement is a further separate filing and does not take the place of the annual accounts. Filing the accounts does not, by itself, complete the company’s Corporation Tax, confirmation statement or VAT obligations.

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 Statutory Accounts Prepared and Filed with Professional Support

The weeks before a first filing often raise more questions than answers: which records are actually needed, whether the micro-entity framework applies, what has to go to Companies House and what HMRC expects separately. Micro Entity Accounts works with newly incorporated limited companies on exactly this first step, reviewing the records you hold, preparing the statutory accounts and managing the Companies House filing where required. Directors in Watchet can talk through their incorporation date, accounting reference date and reporting position with someone who deals with first-period accounts as everyday work rather than an occasional task. If you would rather have your first set of accounts prepared accurately, with clear pricing and no surprises, that is a sensible point to get professional help involved.

─── 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 prepared for a company's initial accounting period, which normally runs from the date of incorporation to the company's first accounting reference date, subject to the applicable Companies House requirements. They typically include a balance sheet and, where applicable, a profit and loss account and supporting notes, prepared from the company's accounting records. Once prepared, the accounts are delivered to Companies House where required.

When are first accounts due at Companies House?

The timing depends on the company's incorporation date, its accounting reference date and the length of its first accounting period, which is not the same for every company. Companies House records an accounting reference date when a company is incorporated, and that date drives the reporting period. Rather than apply one rule to every new company, we work from the specific dates that apply to yours; the public register is the best place to confirm what has been recorded.

What information is needed to prepare first-year accounts?

Usually the accounting records built up since incorporation: bank statements and transactions, sales invoices and other income records, business expense receipts and purchase invoices, asset purchases, share capital details, director transactions and any loans or finance arrangements. Payroll records may be relevant where the company has employees, and VAT records where the company is registered. A company with very little activity may need to provide far less, and what is required depends on the company's circumstances.

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

Generally, yes — accounts for each financial year are normally due once a company has been incorporated, including where trading activity has been limited or has not yet started. There are specific situations, such as dormant companies or particular first-period positions, where exactly what needs to be filed depends on the company's circumstances and the applicable rules. Filing remains the director's responsibility, even where an accountant prepares and submits the accounts on the company's behalf.

Are first-year accounts the same as a CT600?

No. Statutory accounts are prepared under the applicable accounting framework and delivered to Companies House where required. A CT600 is a Corporation Tax Return submitted to HMRC where applicable and is calculated under tax rules rather than accounting rules. The figures in the accounts are often used when preparing the company's Corporation Tax position, but the two filings serve different purposes and go to different places, and the first Corporation Tax accounting period is not always the same as the statutory accounts period.

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

Some can, but not automatically. Eligibility depends on whether the company meets the applicable conditions for the accounting period in question, so it should be checked for each period rather than assumed at incorporation. A qualifying micro-entity may prepare accounts under FRS 105 with a simplified balance sheet and reduced disclosures. If the conditions are not met, small-company or full reporting may apply instead.

Do first-year accounts need a confirmation statement?

They are separate filings. A confirmation statement confirms that the company's registered details at Companies House are up to date, and filing it does not replace the annual accounts — nor do the accounts replace the confirmation statement. A company may still need to submit a confirmation statement and keep its Companies House information current alongside its accounts obligations.

What happens if first-year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to Companies House consequences, and the outcome depends on the circumstances and how overdue the filing is. Settling any penalty does not remove the requirement to file — the outstanding accounts still need to be prepared and delivered. If your first-year accounts are already overdue, we can help get them prepared and filed, and where an appeal is being considered, eligibility depends on the applicable rules and the reasons for the delay.