─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Wolverhampton — Prepared, Reviewed and Filed with Professional Support

If your company has recently been incorporated in Wolverhampton, its first set of statutory accounts will need to be prepared for an accounting period that starts from incorporation. Micro Entity Accounts supports directors through that work — reviewing the accounting records you hold, preparing the balance sheet and, where applicable, the profit and loss account in line with the reporting framework that fits your company, and helping to deliver the accounts to Companies House where required. We also help you see how those accounts sit alongside your wider obligations, including the separate Corporation Tax Return such as a CT600 that may need to be submitted to HMRC, and any confirmation statement owed to Companies House. Whether your company has been trading for months, has only just begun, or has seen very little activity so far, the starting point is working out what actually applies to your first period.

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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, and When Does the Micro-Entity Framework Apply to a New Company?

First year accounts are the first set of annual statutory accounts a limited company prepares after incorporation. They cover the company’s initial accounting period, which runs from the date of incorporation to its first accounting reference date. Companies House applies specific rules to a company’s first period, and the length of that first accounting period is not identical for every company, so the period and the resulting filing date should always be confirmed from the company’s own records rather than assumed. It helps to separate the obligations that come with a limited company, because they are not interchangeable. First year statutory accounts report the company’s financial position and performance for its first period, and are generally filed with Companies House where required. A Corporation Tax Return, such as a CT600, is a separate submission made to HMRC, and a company’s first Corporation Tax accounting period may not match its statutory accounts period exactly. A confirmation statement is another distinct requirement, confirming that the information Companies House holds about the company remains accurate. Completing one of these does not complete the others, and filing accounts with Companies House does not submit a CT600 to HMRC. Reporting framework is a separate question again. Where a company meets the eligibility criteria for the accounting period in question, it may be able to prepare accounts as a micro-entity, with FRS 105 as the financial reporting standard that applies to qualifying micro-entity companies. Eligibility depends on the company’s circumstances and the thresholds in force for that period, so it should be checked rather than presumed — not every newly incorporated company qualifies, and a small company reporting framework may be the better fit in other cases. Directors also remain responsible for the company’s statutory obligations, even where an accountant prepares or files the accounts on the company’s behalf. If a company has had very limited activity, or has not started trading yet, it can still have filing obligations. Whether it should be treated as dormant is a question of fact and applicable rules, not something to assume. Accurate accounting records — bank transactions, income and sales records, expenses, purchase invoices, asset purchases, director transactions, share capital details and any loans or finance — make the preparation of first year accounts considerably more straightforward.

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 Wolverhampton Prepared Accurately

The first set of accounts tends to raise questions that never came up at incorporation: which accounting framework applies to your company, what records you actually need to keep, how the initial accounting period is worked out, and what has to be sent to Companies House. It is common for directors in Wolverhampton to be unsure whether their company has done enough to meet its obligations, particularly where trading started partway through the period or activity has been limited. Micro Entity Accounts can assist with preparing, reviewing and filing first-year accounts for eligible limited companies, working from the records you have and explaining the figures in plain terms before anything is submitted. If you would rather have your first accounts checked properly than guess at what is required, professional support is a sensible place to 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 your company prepares, covering the initial accounting period from its incorporation date to its first accounting reference date. Depending on your company's size and circumstances, they typically include a balance sheet and, where applicable, a profit and loss account, along with the notes required by the reporting framework you use. Once prepared, they are generally filed with Companies House where required.

When are a new company's first accounts due?

There is no single answer that applies to every company. The deadline is calculated from your company's accounting reference date rather than simply from the incorporation date, and the rules for a first period differ from those for later years. It is worth checking the date held on your Companies House record and confirming what applies to your company, because the first accounting period is not always twelve months long.

What information do I need to prepare first-year accounts?

In practice, the accounts are built from your accounting records. That usually means bank statements and transactions, sales and income records, business expense receipts, purchase invoices, details of any assets bought or sold, director loans and transactions, share capital information, and any finance or loan agreements. Payroll records and VAT records are also relevant where the company has those obligations. If some records are incomplete, an accountant can often help you work out what is still needed.

Does a newly incorporated company in Wolverhampton have to file accounts with Companies House even if it has not traded?

A company can still have statutory filing obligations even where it has had limited activity or has not yet started trading. Whether the correct position is dormant accounts or a different treatment depends on the company's actual circumstances and the applicable rules, so it should not be assumed either way. Setting this out correctly at the first period avoids complications later.

Are first-year accounts the same as a CT600?

No. They are separate filings with different purposes and different destinations. First year statutory accounts are generally delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. Information from the accounts is often used when preparing the company's Corporation Tax position, but filing one does not complete the other, and the company's first Corporation Tax accounting period may not be identical to its statutory accounts period.

Can my new company qualify for micro-entity accounts using FRS 105?

Some newly incorporated companies do qualify for the micro-entity framework, where they meet the eligibility requirements for the accounting period in question. It is not automatic and cannot be assumed simply because a company is new or has low turnover. FRS 105 is the financial reporting standard applicable to qualifying entities that use the micro-entity framework, and the right framework should be confirmed against your company's circumstances before the accounts are prepared.

Do first-year accounts replace the confirmation statement?

No, they are separate requirements. Filing your first year accounts with Companies House does not satisfy the confirmation statement, and submitting a confirmation statement does not file your accounts. Your company may still need to submit a confirmation statement and keep its Companies House details current, including directors, registered office and share information.

What happens if first-year accounts are filed late?

Failing to file required accounts by the applicable deadline can lead to consequences from Companies House, and the outcome depends on how late the filing is and the circumstances involved. Paying any penalty does not remove the requirement to file the outstanding accounts. Where an appeal against a penalty is considered, eligibility depends on the specific circumstances and the applicable rules. If you are behind on your first accounts, it is best to address it promptly rather than wait.