─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Westhill — Statutory Accounts Prepared and Filed Correctly

Your company has been incorporated, the first accounting period is running, and at some point the statutory accounts have to be prepared and delivered to Companies House. For directors of a newly incorporated company in Westhill, that first set of accounts often raises more questions than any subsequent year, because the first accounting period does not always follow the pattern of a normal twelve-month year. Micro Entity Accounts works with newly formed and newly trading limited companies to prepare their first set of statutory accounts, review the underlying accounting records, and handle filing with Companies House where required. Where a company also has Corporation Tax obligations, we can help with the figures that feed into that separate HMRC process, including a CT600 where applicable, while keeping the distinction between the two filings clear.

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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 Westhill Limited Company Qualify?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They are not optional and they are not a formality. Every UK limited company is required to keep adequate accounting records and to prepare accounts covering each financial period, and the first period begins on the day the company was incorporated. That first period is usually longer than a standard year, because Companies House sets an accounting reference date when the company is formed and the first period generally runs from incorporation to that date. Later periods normally cover twelve months. The accounts themselves typically include a balance sheet, and a profit and loss account where the reporting framework and the company’s circumstances require one, along with any notes needed to explain the figures. They also reflect the directors’ responsibilities in relation to the company’s records and reporting. Once prepared and approved, the accounts are generally delivered to Companies House where required. Companies House does not prepare the accounts, does not assess whether an accountant has prepared them, and does not approve them. Its role is to place the filed accounts on the public register. Some companies may be able to report under the micro-entity framework, using the financial reporting standard applicable to qualifying entities, FRS 105. Others may fall within the small company regime, or may need to prepare accounts on a fuller basis. Eligibility depends on the company’s circumstances and on the thresholds and conditions that apply to the relevant accounting period, so it is not safe to assume that a newly incorporated company is automatically a micro-entity, or that a low level of activity means simplified reporting will apply. The right framework is a decision that should be made after looking at the company’s figures and its position. It also helps to separate first year accounts from the other filings that may apply. Statutory accounts go to Companies House. A Corporation Tax Return, such as a CT600, is submitted to HMRC and is a separate requirement with its own rules and its own accounting period, which may not match the statutory accounts period. A confirmation statement is a further and separate filing that confirms the company’s registered details are correct. Completing one of these does not complete the others, and preparing first year accounts does not automatically settle a company’s Corporation Tax position. For directors in Westhill running a newly formed company, our role is to prepare the statutory accounts accurately, explain what is required and when, and handle the Companies House filing where it applies.

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 Westhill Prepared With Confidence

Most directors of a newly incorporated company are comfortable with their trade and less comfortable with the paperwork that sits behind it. Working out how long the first accounting period runs, which records are needed, whether a balance sheet and profit and loss account are both required, and whether the company can use the micro-entity framework are all questions that are far easier to answer with someone who deals with them regularly. Micro Entity Accounts provides professional preparation and filing support for first year accounts, so the figures are built from properly reviewed records rather than guesswork. If your first accounting period is approaching its end, or you simply want clarity on what is required, get in touch and we will talk through your company’s position and what needs to happen next.

─── 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, covering the period from incorporation to its first accounting reference date. They typically include a balance sheet, and a profit and loss account where the applicable framework requires one, plus any supporting notes. Once prepared and approved by the directors, they are generally delivered to Companies House where required.

When are a company's first accounts due at Companies House?

The due date is not the same for every company. It depends on the incorporation date and the accounting reference date that Companies House records for the company, and the first accounting period is often longer than a normal year. The filing date is shown on the company's public record, so it is worth checking there rather than assuming, and we confirm the position for each company we act for before any work begins.

What information is needed to prepare first year accounts?

It varies with the company, but most commonly we would look at bank statements and transactions, sales and income records, purchase invoices and business expenses, details of any assets purchased, director transactions and loans, share capital information, and any finance agreements. Where payroll or VAT records exist, those may also be relevant. There is no fixed list, and a company with limited activity may have far fewer records than one that has been actively trading since incorporation.

Does a newly incorporated company have to file accounts even if it has not traded?

A company still has statutory obligations even where activity has been limited or trading has not yet begun. What that means in practice depends on the company's circumstances, because the reporting position of a company with no significant accounting transactions is not automatically the same as a company that has formally registered as dormant. This is one of the areas where it is worth getting the position checked rather than leaving the filing unaddressed.

Are first year accounts the same as a CT600?

No. First year statutory accounts are delivered to Companies House, where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC and is a separate obligation with its own rules and its own accounting period, which may not align with the statutory accounts period. Figures from the accounts often inform the tax return, but filing one does not fulfil the other, and a company may need to deal with both.

Can a new limited company use micro-entity accounts and FRS 105?

It may be able to, if it meets the eligibility conditions that apply for the relevant accounting period. FRS 105 is the financial reporting standard used by qualifying entities reporting under the micro-entity framework. However, a newly incorporated company is not automatically a micro-entity and a low level of activity does not guarantee eligibility, so the appropriate framework is confirmed case by case.

Do first year accounts replace the confirmation statement?

They do not. A confirmation statement is a separate filing that confirms the company's registered details, such as its directors, registered office and share information, are up to date. Filing accounts with Companies House does not satisfy the confirmation statement requirement, and submitting a confirmation statement does not satisfy the accounts requirement. Companies generally need to keep both areas of compliance in order, including when there have been no changes to report.

What happens if first year accounts are filed late?

Missing the applicable Companies House filing date can lead to consequences, which may include a late filing penalty. The outcome is not identical in every case and depends on factors such as how late the accounts are. Paying a penalty does not remove the requirement to file the outstanding accounts, and appealing a penalty depends on the circumstances and the applicable rules. If you are already behind, the priority is usually to get the accounts completed and filed without further delay.