─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Wombourne, Prepared and Filed With Professional Support

A newly incorporated limited company has a first set of statutory accounts to prepare, whatever stage the business has reached. Micro Entity Accounts supports company directors in Wombourne through that first accounting period, from reviewing the accounting records and preparing the balance sheet and profit and loss account where applicable, through to filing the accounts with Companies House where required. We also help you see how the accounts fit alongside your other obligations, including the separate Corporation Tax Return such as a CT600, which is submitted to HMRC and is not the same thing as your Companies House filing.

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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 Every New Company Qualify?

First year accounts are the first set of annual statutory accounts a limited company prepares for its initial accounting period. That period normally starts on the date of incorporation, or on the date the company begins trading, depending on the company’s circumstances, and it ends on its first accounting reference date. Companies House sets an accounting reference date when a company is incorporated, and that date shapes the first reporting period, so newly incorporated companies in Wombourne do not all share one identical first-year period or filing deadline. The paperwork registered at Companies House is the starting point for confirming what applies to a particular company. Because these are the company’s first statutory accounts, there is no previous year to compare against. The accounts are generally prepared from the company’s own accounting records: bank transactions, sales and income records, business expenses, purchase invoices, asset purchases, share capital details, director transactions and any loans or finance arrangements. Depending on the framework used, the accounts may include a balance sheet and, where applicable, a profit and loss account together with supporting notes. Directors remain responsible for the accuracy of those records and for making sure the company meets its filing obligations, even when an accountant prepares and files the accounts on the company’s behalf. Some companies may be able to use the micro-entity framework if they meet the applicable eligibility requirements for the relevant accounting period. FRS 105 is the financial reporting standard that applies to qualifying entities using that framework. But micro-entity reporting is not automatic and does not follow simply from being newly incorporated, from having low turnover or from having limited activity. Eligibility should be assessed against the company’s own circumstances for the period in question, and a company that does not qualify may instead report under the small company regime or a fuller framework. It is just as important to be clear about what first-year accounts are not. They are not a Corporation Tax Return. A limited company may separately need to prepare and submit a Return such as a CT600 to HMRC, and the company’s first Corporation Tax accounting period and its statutory accounts period do not necessarily cover the same dates. First-year accounts are also not a confirmation statement, which is a separate filing that keeps Companies House information up to date. Delivering accounts to Companies House does not, by itself, complete those other requirements, and Companies House does not approve the accounts in an accounting or regulatory sense — it receives and records them.

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 in Wombourne, Handled With Care and Clarity

If your company has recently been incorporated and you are unsure what the first set of accounts should contain, which reporting framework applies or how the Companies House filing fits together with everything else, that uncertainty is common and far easier to deal with early. Micro Entity Accounts prepares first-year statutory accounts for limited companies, working from the records you hold, helping you understand anything that needs tidying up before the accounts are finalised, and assisting with the Companies House filing where required. Whether your company is already trading, has had limited activity or has not yet started trading, it helps to know what is required of the accounts and what sits outside them, including the separate Corporation Tax Return. Get in touch to talk through your first accounting period and we will explain the next steps in plain terms, with clear pricing and no hidden costs.

─── 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?

First-year accounts are the first set of statutory annual accounts a limited company prepares for its initial accounting period. They are built from the company's accounting records and, depending on the framework that applies, typically include a balance sheet and, where applicable, a profit and loss account with supporting notes. For a company incorporated in Wombourne, this is the first formal set of accounts delivered to Companies House where required, and the period it covers can be shaped differently from later years.

When are first accounts due?

There is no single answer that fits every company. The due date depends on the company's incorporation date, the accounting reference date set when it was registered, and the applicable Companies House requirements. Companies House applies a different filing period to a first set of accounts than it does to later years, so it is better to check the company's own details than to assume a standard date. If you are a director of a newly incorporated company in Wombourne and are unsure, we can review your incorporation information and confirm what applies.

What information is needed to prepare first-year accounts?

Preparation usually starts with your accounting records: bank statements and transactions, sales and income records, business expense receipts and purchase invoices, details of any assets bought, share capital information, director loan transactions and any loans or finance agreements. Payroll records and VAT records are also useful where the company has them. If your records are incomplete or mixed in with personal spending, we can help you work out what is needed to produce a complete and accurate first set of accounts.

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

A limited company generally has statutory accounts filing obligations even where it has had little or no activity, and it may still need to file accounts where it has not yet started trading. The exact reporting position depends on the company's circumstances and the applicable rules, including whether it meets the conditions to be treated as dormant for the period. A quiet first year does not automatically mean there is nothing to file, so it is worth confirming the position rather than assuming it.

Are first-year accounts the same as a CT600?

No. Statutory accounts are prepared under the applicable accounting framework and delivered to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. Filing your accounts does not submit a CT600, and filing a CT600 does not complete your Companies House accounts filing. Information from the accounts is often used when working out the company's Corporation Tax position, but the two have different purposes and destinations, and the first Corporation Tax accounting period may not match the statutory accounts period.

Can a new company qualify for micro-entity accounts?

It may be able to, but not automatically. A company can use the micro-entity framework if it meets the eligibility requirements for the relevant accounting period, with FRS 105 as the reporting standard for qualifying micro-entities. Being newly incorporated, having limited activity or having modest turnover does not by itself confirm eligibility. The right framework for your company, whether micro-entity, small company or something fuller, should be assessed against its circumstances before the accounts are prepared.

Do first-year accounts replace the confirmation statement?

No. A confirmation statement is a separate filing that updates Companies House on matters such as the company's officers, registered office and share capital. First-year accounts are the company's statutory financial statements, so filing them does not replace the confirmation statement, and filing a confirmation statement does not satisfy the accounts requirement. A company may need to keep both up to date during its first year.

What happens if first-year accounts are filed late?

If required accounts are delivered after the applicable deadline, Companies House can apply consequences, and what follows depends on the circumstances rather than being identical in every case. Paying any penalty that arises does not remove the need to file the outstanding accounts. Where accounts are already overdue, professional support can help you get the position resolved and understand what options may be available, including whether an appeal may be appropriate depending on the circumstances and the applicable rules.