─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in West Bromwich, Prepared Properly

A company’s first set of statutory accounts is both a milestone and a statutory obligation. Micro Entity Accounts supports newly incorporated and newly trading limited companies in West Bromwich with the preparation of their first year accounts, a review of the underlying accounting records, and delivery of those statutory accounts to Companies House where required. We will talk you through how the first accounting period and accounting reference date shape what has to be prepared, and how the company’s reporting framework is decided. Where Corporation Tax applies, that is a separate requirement dealt with through HMRC — usually by way of a CT600 — and it is not satisfied simply by filing accounts at Companies House.

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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 When Does That Framework Apply?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. In practice, they cover the period running from incorporation — or from the point the company began trading, depending on the circumstances — up to the company’s first accounting reference date, and they set out a formal picture of the company’s financial position and performance over that period, normally through a balance sheet and, where applicable, a profit and loss account together with the required notes and statements. The obligation to prepare accounts applies to limited companies whether or not trading has started. A company with little or no activity still needs to consider its reporting position and whether it meets the definition of dormant under the applicable rules, rather than assuming nothing needs to be filed. Directors remain responsible for ensuring the company meets its statutory obligations, even when an accountant is engaged to prepare or submit the accounts. The first accounting period is often longer than the twelve months that later periods typically run for, because Companies House sets an initial accounting reference date based on the month of incorporation. Once that first period has been dealt with, subsequent periods normally follow a twelve-month pattern. The actual filing deadline depends on the company’s incorporation date and accounting reference date, so it should be confirmed against the company’s own Companies House record rather than assumed. Some companies are eligible to report under the micro-entity framework, and FRS 105 is the financial reporting standard applicable to qualifying entities that use it. Eligibility is not automatic for a newly incorporated company, and a modest turnover on its own does not guarantee it. Whether the micro-entity framework, the small company regime or fuller reporting applies depends on the company’s circumstances and the eligibility requirements for the relevant accounting period, and that assessment should be made before the accounts are drafted. It also helps to keep the different filings separate. First year statutory accounts go to Companies House where required. 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 match its statutory accounts period exactly. A confirmation statement is another distinct Companies House filing that keeps the public register current — filing accounts does not replace it, just as it does not complete the company’s Corporation Tax position.

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 West Bromwich Prepared Correctly

A first set of accounts usually raises more questions than directors expect: which reporting framework actually applies, what counts as adequate accounting records, and what genuinely has to be sent to Companies House. Those are the questions Micro Entity Accounts handles regularly for directors in West Bromwich. We can prepare your first year accounts from the records you hold, point out anything missing before submission, and deal with delivery to Companies House where required — while being clear that any Corporation Tax Return to HMRC is a separate matter with its own requirements. If you would prefer a professional to review the figures and the filing position before the first deadline draws close, get in touch and we will set out exactly what is needed.

─── 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 company prepares for its initial accounting period. That period generally begins on incorporation and ends on the company's first accounting reference date, although the position can differ where trading starts later or the accounting reference date has been changed. The accounts normally include a balance sheet and, where applicable, a profit and loss account and the required notes. They are prepared for the company's own records and filed with Companies House where required.

When do first year accounts have to be filed with Companies House?

The deadline is not the same for every company. It depends on the incorporation date and the company's accounting reference date, and Companies House generally allows a longer period for a first set of accounts than for later ones. Because the calculation follows the company's own dates, it is worth checking the deadline on the Companies House record for the company rather than working from a general rule of thumb. We can help you confirm the position for your company.

What information is needed to prepare first year accounts?

It depends on what the company has done since incorporation. Typically that means bank transactions and statements, sales or income records, purchase invoices and business expenses, details of any assets bought, director transactions and loans, share capital information, and payroll or VAT records where those apply. A newly incorporated company with limited activity will have far less to provide than one that has been trading throughout. Sending everything you hold, even if it looks incomplete, usually makes the preparation quicker.

Does a new limited company have to file accounts at Companies House if it has not traded?

It may still have a statutory filing obligation even where activity has been minimal or trading has not yet begun. Whether the company can file as dormant, or needs to file accounts on a normal basis, depends on its circumstances and the applicable rules rather than on the absence of sales alone. It is worth having the position assessed before assuming nothing needs to be submitted. Directors in West Bromwich often find this one of the more confusing aspects of a first year.

Are first year accounts the same as a CT600?

No. They serve different purposes and go to different places. First year statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. The figures in the accounts often inform the tax return, but filing one does not complete the other. It is also possible for the company's first Corporation Tax accounting period and its statutory accounts period to differ, so the two should be considered separately.

Is a confirmation statement part of the first year accounts?

No. A confirmation statement is a separate Companies House filing that confirms the company's registered details, such as its officers, registered office and share information, are correct. Filing first year accounts does not replace it, and it does not replace the accounts either. A company may need to deal with both, along with any other obligations that apply to it, and keeping the two in view avoids an avoidable oversight.

Can a newly incorporated company prepare micro-entity accounts?

Only if it meets the eligibility requirements for the relevant accounting period. Being newly incorporated does not automatically make a company a micro-entity, and a low level of turnover on its own does not settle the question either. Where a company does qualify, FRS 105 is the financial reporting standard applicable to qualifying entities using the micro-entity framework, and it allows for a more streamlined set of accounts. If it does not qualify, the small company regime or fuller reporting may apply instead.

What happens if first year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to consequences from Companies House, which may include penalties. The outcome is not identical in every case, and paying any penalty does not remove the requirement to file the outstanding accounts. If accounts have already been filed late or are currently overdue, it is usually best to deal with the filing first and then look at whether an appeal is appropriate, since eligibility for an appeal depends on the circumstances and the applicable rules.