─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Watford — Prepared, Reviewed and Filed Where Required

Your company’s first set of statutory accounts is a milestone, but it rarely arrives at a convenient moment. Directors of newly incorporated companies in Watford often find themselves preparing accounts for the first time while also getting to grips with Companies House filing requirements, accounting reference dates and the separate question of Corporation Tax. Micro Entity Accounts helps limited companies work through that first accounting period properly — preparing first year statutory accounts from your accounting records, checking the figures for consistency, and supporting the delivery of those accounts to Companies House where required. Where a Corporation Tax Return such as a CT600 is also relevant, we make clear that this is a separate submission to HMRC, prepared on its own basis and with its own requirements, rather than something that filing accounts automatically takes care of.

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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 Does Your New Watford Company Qualify?

First year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. They are not optional and they are not triggered by trading activity alone — a company incorporated at Companies House generally has reporting obligations from the point it exists, even where the first period has been quiet. The accounts normally include a balance sheet, and a profit and loss account where applicable, together with the supporting notes and disclosures required by the framework the company reports under. Directors also remain responsible for the accuracy of the records behind those figures and for ensuring the company meets its filing obligations. The first accounting period does not always follow a neat pattern. It generally runs from the company’s incorporation date to its first accounting reference date, and Companies House may treat a first set of accounts differently from later years because that initial period can be longer or shorter than twelve months. That is why checking the accounting reference date early is worthwhile — it shapes both the period the accounts cover and the point at which they are expected to be delivered to Companies House. Where a company meets the applicable eligibility conditions for the period in question, it may be able to report under the micro-entity framework, and FRS 105 is the financial reporting standard that applies to qualifying entities using that framework. Eligibility is assessed company by company and period by period, so a newly incorporated company is not automatically a micro-entity, and a low-activity first period does not by itself settle the question. Small-company reporting may also be available where the relevant thresholds are met. The right framework is a matter of the company’s own circumstances, and it is worth confirming before the accounts are drafted rather than after. It also helps to keep three separate obligations clearly apart. First year statutory accounts are the annual accounts delivered to Companies House. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period may not line up exactly with the period covered by the statutory accounts. A confirmation statement is a third, distinct filing that keeps the public register up to date and does not replace the accounts. Completing one does not complete 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 Watford Prepared Properly

The first accounting period is usually the one where directors are least certain — which records matter, how the figures should be presented, whether the micro-entity framework is available, and what actually needs to go to Companies House. Micro Entity Accounts provides professional preparation and filing support for first year accounts, working from the bank transactions, invoices, expense records and other information you hold, and explaining the position in plain terms as we go. If you are a director of a newly incorporated limited company in Watford and would rather not work through the first set of statutory accounts on guesswork, it is worth speaking to someone who deals with these filings routinely.

─── 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 annual statutory accounts a limited company prepares, covering its initial accounting period. That period normally begins on the incorporation date and ends on the company's first accounting reference date. The accounts typically include a balance sheet and, where applicable, a profit and loss account, along with the notes and disclosures required by the reporting framework the company uses. They are prepared for the company's members and delivered to Companies House where required.

When are a company's first accounts due?

There is no single answer that fits every company, because the deadline depends on the incorporation date, the accounting reference date and the filing rules that apply to a first set of accounts. A first accounting period can be longer or shorter than twelve months, which is one reason it is worth confirming the position early rather than assuming the usual annual pattern applies. We can review your company's specific dates and explain which deadline is relevant to you.

What information is needed to prepare first year accounts?

It depends on what the company has actually done. Commonly needed items include bank statements and transactions, sales or income records, purchase invoices and business expenses, details of any assets bought, director loan movements, share capital information, and any loans or finance arrangements. Where the company runs payroll or is VAT registered, those records are relevant too. A company with very little activity will need far less than one that has been trading throughout the period.

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

In most cases, a limited company has statutory accounts filing obligations regardless of how much it has done since incorporation. Filing the accounts is separate from registering for VAT, running payroll or submitting a Corporation Tax Return to HMRC. Companies House publishes the accounts on the public register once delivered; it does not check whether an accountant prepared them, and it does not approve them in any professional or regulatory sense.

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

Not trading does not automatically remove the accounts filing obligation, and it does not automatically make a company dormant either. A dormant company is a defined position under the applicable rules, and whether it applies depends on the company's circumstances and the transactions it has actually had. Where activity has been minimal, we look at what has taken place during the period and confirm the reporting position before anything is submitted.

Are first year accounts the same as a CT600?

No. The statutory accounts are prepared under company law and delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted separately to HMRC where the company has a Corporation Tax obligation. The figures in the accounts often feed into the tax return, but they serve different purposes and go to different places. Submitting one does not submit the other, and the company's first Corporation Tax accounting period may not match the period the statutory accounts cover.

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

Some newly incorporated limited companies do qualify, but not all of them. Eligibility depends on meeting the applicable conditions for the relevant accounting period, and it is assessed on the company's own circumstances rather than on how new or how small it is. FRS 105 is the standard used by qualifying entities reporting under the micro-entity framework. Where a company does not qualify, small-company reporting or full reporting may be appropriate instead.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to consequences from Companies House, and the outcome varies with the circumstances rather than being identical in every case. Paying any penalty does not remove the requirement to file the outstanding accounts. If a filing has been missed, it is best to address it promptly; we can help bring the position up to date and discuss whether an appeal may be available under the applicable rules.