─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

Your company’s first set of statutory accounts sets the tone for everything that follows, and they are rarely as straightforward as they look on paper. Micro Entity Accounts works with newly incorporated and newly trading limited companies in West to prepare First Year Accounts for Limited Company reporting periods, starting from a review of the accounting records you hold and finishing with accounts delivered to Companies House where required. We look at your incorporation date, accounting reference date and first accounting period, then build a balance sheet and, where applicable, a profit and loss account that reflects what actually happened in the company. Corporation Tax is handled separately, as a limited company may also need to prepare a CT600 for HMRC — a different filing, with a different destination, and one that is not completed simply by filing accounts at Companies House. If this is your first year of trading, or your first year with limited activity, we can help you work out what is due and what needs preparing.

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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 annual statutory accounts a limited company prepares, covering the period from incorporation (or from the start of trading, depending on the circumstances) through to its first accounting reference date. They are not optional simply because the company is new. A limited company is required to prepare accounts for each financial period and, where required, deliver them to Companies House, even where the company has had limited activity or has not yet started trading. Whether the company’s reporting position is straightforward in that situation depends on its specific circumstances and the applicable rules rather than being automatically described as dormant. The first accounting period is usually longer than twelve months because it runs from the date of incorporation to the first accounting reference date, which is normally set to the end of the month in which the company was incorporated. Companies House may subsequently allow a shorter or longer period in certain circumstances, so the exact first period and the resulting filing deadline should always be confirmed against the company’s own records rather than assumed. Directors of newly formed companies in West often find this is the point where professional input is most useful, because the period does not always line up neatly with a standard accounting year. Where a company meets the relevant eligibility criteria for the period, it may be able to prepare accounts using the micro-entity accounting framework, with FRS 105 being the financial reporting standard applicable to qualifying entities that use it. That is a question of eligibility, not an automatic entitlement. A company with low turnover does not necessarily qualify, and not every startup or newly incorporated company will fall within the micro-entity or small-company regime. The appropriate framework depends on the company’s size, circumstances and the requirements in force for that accounting period, and it is worth confirming before any figures are drawn up. It also helps to be clear about what first year accounts are not. They are not a Corporation Tax Return, and filing them with Companies House does not submit a CT600 to HMRC — the two have separate purposes, separate destinations and separate deadlines. They are also not a confirmation statement, which is a distinct filing that keeps the company’s public record up to date and may still be required in the same period. Accounts preparation sits alongside those obligations rather than replacing them, and an accountant’s involvement does not remove the directors’ responsibility for ensuring the company meets its statutory duties.

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 Prepared Correctly

If you have recently incorporated a company in West and are unsure what your first statutory accounts need to include, which reporting framework applies, or how the Companies House filing fits with your other obligations, you are not alone. Many directors reach their first accounting reference date without a clear picture of what the accounts should show or which records are needed to support them. Micro Entity Accounts can review your accounting records, prepare your first-year statutory accounts and support you through the filing process, while making clear where separate matters such as a Corporation Tax Return or confirmation statement sit outside that work. We will explain the framework that applies to your company, flag anything missing from your records and keep the process clear from the outset, with transparent fees and no unexpected extras. Getting the first set of accounts right makes every subsequent year easier, so it is worth having it prepared properly from the start.

─── 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, usually running from the date of incorporation to the company's first accounting reference date. They typically include a balance sheet and, where applicable, a profit and loss account, along with any notes required by the reporting framework the company uses. They are prepared under the Companies Act requirements and, where required, delivered to Companies House. Filing the accounts is not the same as submitting a Corporation Tax Return to HMRC, which is a separate obligation.

When are first accounts due?

The deadline depends on the company's incorporation date and accounting reference date, so it is not the same for every company. A first accounting period is often longer than twelve months, which affects when the accounts fall due, and Companies House may allow a different period in certain circumstances. Because the dates are company-specific, it is worth checking the filing date shown on your company's Companies House record and working back from that rather than relying on a general rule.

What information do I need to prepare first year accounts?

It depends on what the company has done, but typical items include bank statements and transactions, sales and 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. If the company has had very limited activity, the records needed may be much shorter. For directors in West, the practical starting point is usually a complete set of bank records plus anything that explains money coming in or going out.

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

In most cases, yes — a newly incorporated company has statutory accounts obligations and is generally required to file accounts with Companies House for its first accounting period where the applicable requirements apply. Filing is not optional simply because the company is new or has traded very little. That said, the position can differ where a company has had no significant accounting transactions, so it is worth confirming your company's specific circumstances before deciding what to file.

Are first year accounts different from annual accounts?

They follow the same underlying principles, but the first set covers an unusual period because it begins on incorporation rather than on a normal accounting year start date. That first period is often longer than twelve months, which can affect comparatives and the figures presented. Once the first accounts are filed, later years tend to follow a standard twelve-month cycle, which is one reason the first set often takes a little more attention to get right.

Do we still need to file accounts if the company has not traded?

A company can have statutory filing obligations even where it has not started trading or has had limited activity. The exact position depends on whether there have been any significant accounting transactions and on the applicable rules, rather than being automatically treated as dormant. If your company has genuinely had no activity, it is worth checking whether a dormant accounts filing is appropriate before assuming nothing needs to be submitted.

Are first year accounts the same as a CT600?

No. Statutory accounts are prepared for the company and delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where it applies. The figures in your accounts may inform the tax position, but the two filings serve different purposes and have different recipients. Completing one does not complete the other, and the company's first Corporation Tax accounting period may not necessarily match its statutory accounts period.

Can a new company qualify for micro-entity accounts?

Some newly incorporated companies may qualify for the micro-entity framework if they meet the applicable eligibility requirements for the relevant accounting period, and FRS 105 is the standard used by qualifying entities that report under it. However, it is not automatic. A new company does not become a micro-entity simply because it has just been formed or has low turnover, and eligibility should be assessed against the company's own circumstances before the accounts are prepared.

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 depends on how late the filing is and the company's filing history. Paying any penalty does not remove the requirement to file the outstanding accounts, and appeal eligibility depends on the circumstances and the applicable rules. If you are approaching or have passed a deadline, the priority is usually to get the accounts prepared and filed as soon as possible.