─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Wilmington, Prepared and Filed With Clarity

Incorporating a limited company in Wilmington brings statutory obligations that begin earlier than many directors expect. Micro Entity Accounts prepares first year accounts for limited company directors who have recently incorporated — reviewing your accounting records, drafting the statutory accounts, and delivering them to Companies House where required. We also explain how the first accounting period and accounting reference date are determined, what the balance sheet and profit and loss account need to show, and how a separate Corporation Tax Return such as a CT600 fits alongside the accounts as an HMRC submission. If you are not yet sure what your new company has to file, or when, we can help you establish the position before it becomes urgent.

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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 How Are They Prepared in Wilmington?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. They cover the company’s earliest period, whether that period included active trading or very little activity at all, and they are normally drawn up once that first accounting period has ended. They are a legal obligation for the company rather than an optional exercise. Every company incorporated in Wilmington, or anywhere else in the UK, has an accounting reference date. The first accounting period generally runs from the date of incorporation to that first accounting reference date, which is why a company’s first set of accounts can cover more than twelve months. The length of that period affects what the accounts need to show and when they need to be delivered, so it should be checked against the company’s own Companies House record rather than assumed from a general rule. Statutory accounts normally include a balance sheet and, where the applicable framework requires it, a profit and loss account together with notes. Directors remain responsible for ensuring the accounts are prepared and filed in accordance with the relevant requirements, and for keeping adequate accounting records to support the figures reported. Some newly incorporated companies may be able to prepare micro-entity accounts. FRS 105 is the financial reporting standard used by qualifying entities within the micro-entity framework, and it allows a simpler format than the frameworks available to larger companies. It does not follow that every new company, or every company with modest turnover, qualifies. Eligibility depends on the company’s circumstances and the criteria that apply for the relevant accounting period, and it is worth confirming the position before the accounts are drafted. It is equally important to keep the different filings separate. Statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where the company has a Corporation Tax obligation, and the company’s first Corporation Tax accounting period and its statutory accounts period are not always identical. A confirmation statement is another separate Companies House filing, and keeping it up to date does not replace the accounts. Submitting the accounts does not, by itself, settle the company’s Corporation Tax, VAT or confirmation statement responsibilities.

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.

First Year Accounts for Limited Company Prepared and Filed Correctly

Newly incorporated companies often reach their first accounts deadline without a clear picture of which reporting framework applies, how the figures should be presented, or what records need to be pulled together first. At Micro Entity Accounts, we work through your first accounting period with you — confirming the accounting period and reference date, reviewing the records you hold, preparing the statutory accounts, and delivering them to Companies House where required. Where the company also has a Corporation Tax obligation, we can help you understand how a CT600 sits alongside the accounts as a separate submission to HMRC. Getting the first set of accounts right creates a firmer foundation for the years that follow, so it is worth having the work prepared and checked properly rather than left until the filing date is close.

─── 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 annual accounts a limited company prepares for its initial accounting period, beginning at incorporation or the start of that period and ending on the company's first accounting reference date. They normally include a balance sheet and, where the applicable framework requires, a profit and loss account with supporting notes. They are a statutory requirement for the company rather than a voluntary exercise, even where trading has been limited.

When are a new company's first accounts due?

The deadline depends on the company's incorporation date and its accounting reference date, and the first accounting period is often longer than twelve months. There is therefore no single date that applies to every new company. The practical approach is to check the company's own Companies House record, and any HMRC correspondence where the company has a Corporation Tax obligation, then plan the accounts preparation around those dates rather than working from a general assumption.

What information is needed to prepare the first year accounts?

Typically bank statements and transaction records, sales and income records, purchase invoices and expense receipts, details of any assets bought, share capital information, director loans or other transactions between the director and the company, and payroll or VAT records where those apply. A company formed recently with little activity may have far less to provide. We confirm what is actually relevant once we understand how the company has operated.

Does a company in Wilmington have to file accounts with Companies House if it has not traded?

In most cases a company still has filing obligations even where it has not started trading, although what has to be delivered depends on the company's circumstances and the applicable rules. A company with no significant accounting transactions is not automatically dormant, and dormancy has its own conditions. Directors should confirm the position for their own company rather than assume nothing needs to be filed.

Are first year accounts the same as a CT600?

No. Statutory accounts are delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has a Corporation Tax obligation. The figures in the accounts often support the tax return, but the two are prepared for different purposes, go to different bodies, and can cover different periods. Completing one does not complete the other.

Can a newly incorporated company use micro-entity accounts and FRS 105?

Some companies qualify for the micro-entity framework, and FRS 105 is the standard used by qualifying entities within it. Eligibility depends on meeting the applicable criteria for the relevant accounting period. A new company does not automatically qualify simply because it is small or has generated limited income so far, so the appropriate framework should be confirmed before the accounts are prepared.

Do first year accounts replace the confirmation statement?

No. The confirmation statement is a separate Companies House filing that confirms the company's registered details, such as its directors, shareholders and registered office, remain correct. Filing statutory accounts does not replace it, and submitting a confirmation statement does not satisfy the accounts filing requirement. Both need to be dealt with separately.

What happens if first year accounts are filed late?

Failing to deliver accounts by the applicable deadline can lead to consequences from Companies House, which may include late filing penalties. The amount and treatment depend on the circumstances and on how late the accounts are, and paying a penalty does not remove the need to file the outstanding accounts. If accounts are already overdue, it is generally better to prepare and submit them as soon as possible and take advice on whether an appeal is appropriate.