─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

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

A company’s first set of statutory accounts often raises more questions than any set that follows. Micro Entity Accounts supports newly incorporated and newly trading limited companies in Wilnecote with the preparation of their first-year accounts, working from the accounting records the company has kept and building the figures into properly structured statutory accounts. That typically means a balance sheet, a profit and loss account where applicable, and the supporting notes and disclosures that the chosen reporting framework calls for, followed by filing with Companies House where required. Corporation Tax is handled separately through HMRC, usually by way of a CT600, and we are happy to explain how that sits alongside the accounts rather than describing the two as one filing. If your company has recently been incorporated, or is close to its first accounting reference date, this is the point at which getting the accounts right matters most.

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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 First Year Accounts Mean for a Newly Incorporated Limited Company

First year accounts are the first set of statutory accounts a limited company prepares for its initial accounting period. That period normally begins on the date of incorporation and ends on the company’s first accounting reference date, although the exact period can vary depending on when the company was incorporated and whether the accounting reference date has been changed. Because it is a first period, it is not always twelve months long, and that is one of the reasons first-year accounts are treated a little differently from the annual accounts that follow. These accounts are a statutory requirement, not an optional exercise. A limited company is generally expected to prepare accounts and deliver them to Companies House where required, and that obligation can still apply where the company has had limited activity, has only recently started trading, or has not yet begun trading at all. Where a company has had no significant accounting transactions, its reporting position has to be looked at on its own facts — it does not automatically follow that the company is dormant, and the filings that apply depend on the circumstances and the applicable rules rather than on the absence of trading alone. On the reporting framework, some companies may qualify for the micro-entity framework, and where they do, the financial reporting standard FRS 105 is the standard that applies to qualifying micro-entities. Small-company reporting may also be available. Qualification is not automatic and does not follow simply from being newly formed or from having modest activity; eligibility is assessed against the applicable requirements for the relevant accounting period. The right framework is a decision made on the company’s own position, not a default. It is worth being clear about what first-year accounts are not. They are not a Corporation Tax Return — a CT600 is submitted to HMRC, while statutory accounts are delivered to Companies House, and the two serve different purposes even though figures from the accounts often inform the tax position. The company’s first Corporation Tax accounting period and its statutory accounts period may not be identical either. First-year accounts are also not a confirmation statement, which is a separate filing that keeps the company’s registered information up to date. Filing the accounts does not discharge those other obligations.

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 Wilnecote Prepared Accurately and Filed on the Right Basis

If your limited company is approaching its first accounting reference date, the uncertainty usually centres on three things: what the accounts should actually include, whether the records you have are complete enough to prepare them, and which reporting framework applies. Those are reasonable questions for a first-year director, and they are easier to resolve with someone who deals with newly incorporated companies regularly. Micro Entity Accounts can review your accounting records, prepare your first-year statutory accounts and handle the Companies House filing where required, while making clear which separate obligations — such as a Corporation Tax Return to HMRC or a confirmation statement — still sit with the company. Getting the first set of accounts properly structured means later years start from a sound position, so it is worth speaking to us before the filing date arrives.

─── 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 accounts prepared for the company's initial accounting period. That period normally runs from the incorporation date to the first accounting reference date, and it may be shorter or longer than a standard twelve-month period. The accounts usually include a balance sheet and, where applicable, a profit and loss account, together with the notes and disclosures required by the reporting framework the company uses.

When are a company's first accounts due?

It depends on the incorporation date, the accounting reference date and the requirements that apply to that company. The period allowed for a first set of accounts can differ from the period allowed in later years, and a company's individual dates determine what applies. Rather than relying on a general rule of thumb, it is worth confirming the position for your own company, and we can help you work through the dates that apply to you.

What information is needed to prepare first year accounts?

In most cases we would look at bank statements and transactions, sales and income records, business expenses, purchase invoices, asset purchases, share capital details, director transactions and any loans or finance arrangements. Where the company runs payroll or is VAT registered, those records may also be relevant. Not every company will have all of these — a newly incorporated company with limited activity may have very little — and we work with whatever is appropriate to your circumstances.

Do new limited companies have to file accounts with Companies House?

Generally, a limited company is expected to prepare statutory accounts and deliver them to Companies House where required, and that can apply even if the company has only recently been incorporated or has had limited activity. You cannot assume the obligation falls away because the company has not started trading. Where a company has had no significant transactions, its reporting position needs to be assessed on its own facts, including whether it meets the criteria for dormant accounts.

Are first year accounts the same as a CT600?

No. First-year statutory accounts are delivered to Companies House, while a Corporation Tax Return such as a CT600 is submitted to HMRC where the company has Corporation Tax obligations. They are separate filings with separate purposes, and filing one does not complete the other. The figures in the accounts often help when preparing the tax position, but the company's first Corporation Tax accounting period and its statutory accounts period may not be the same, so directors in Wilnecote should treat them as two distinct pieces of compliance.

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 qualifying micro-entities use the financial reporting standard FRS 105. Qualification is not automatic and does not follow simply from being new or from having low levels of activity. A company can also fall outside the micro-entity thresholds and still qualify as a small company. The appropriate framework is determined by the company's own circumstances and the rules in force for that period.

Do first year accounts replace the confirmation statement?

No. A confirmation statement is a separate filing that confirms the company's registered details are up to date, and submitting first-year accounts does not satisfy that requirement, just as it does not satisfy the company's Corporation Tax or VAT obligations. A limited company may still need to file a confirmation statement alongside its accounts, so it is worth keeping track of both.

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 a late filing penalty. The outcome is not identical for every company and can depend on how late the accounts are and the company's position. Paying a penalty does not remove the requirement to file the outstanding accounts, so the accounts still need to be prepared and submitted. If you believe there were valid reasons for the delay, whether an appeal is possible depends on the circumstances and the applicable rules.