─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Woolton — Professional Preparation and Filing Support

Incorporating a limited company brings a set of statutory reporting duties, and the first set of annual accounts tends to raise more questions than any other filing. Whether your company has been trading since incorporation or is still finding its feet, Micro Entity Accounts helps directors in Woolton understand what First Year Accounts for Limited Company involve, what records are needed and how the figures come together. We prepare the statutory accounts from your accounting records, review the balance sheet and the profit and loss position for the period, and deliver the accounts to Companies House where required. Corporation Tax is a separate matter dealt with through HMRC, usually by way of a CT600, and we can support that alongside the accounts rather than treating the two as a single filing. Directors remain responsible for the company’s compliance, but the first accounting period does not have to be worked through alone.

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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 That Framework Apply to Your Woolton Company?

First year accounts are the initial set of statutory annual accounts a limited company prepares for its first accounting period. That period normally starts on the date of incorporation and runs to the company’s first accounting reference date, although the exact length of the period and the resulting filing deadline depend on the incorporation date, the accounting reference date and the applicable Companies House requirements. A company with limited activity may still have statutory accounts obligations, so it is worth confirming the position rather than assuming nothing is due. The accounts themselves typically include a balance sheet, and a profit and loss account where applicable, along with any notes and the directors’ responsibilities that accompany the chosen reporting framework. Some companies that meet the relevant eligibility conditions for the accounting period may be able to prepare micro-entity accounts under FRS 105, the financial reporting standard for qualifying micro-entities, while others may fall within the small company regime or need to prepare accounts on a fuller basis. Eligibility is assessed for each company and each period, so a new company should not assume it qualifies simply because it is newly incorporated. It also helps to keep the separate filings clear in your mind. First-year statutory accounts are delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, and the company’s first Corporation Tax accounting period may not be identical to its statutory accounts period. A confirmation statement is a further, separate filing that keeps the company’s register information up to date. Completing one of these does not discharge the others. Accurate accounting records make the whole process far more straightforward. Depending on how the company has operated, that may include bank transactions, sales and income records, business expenses, purchase invoices, asset purchases, director transactions, share capital details, loans and finance, and payroll or VAT records where relevant. Not every company will have all of these, and the records needed reflect what actually happened in the period.

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.

Have Your First Year Accounts for Limited Company in Woolton Prepared Properly

The first accounting period is often where directors discover how much sits behind a seemingly simple set of accounts: incomplete records, uncertainty over dates and doubt about which reporting framework applies. Micro Entity Accounts works with newly incorporated and newly trading limited companies in Woolton to make sense of that first period, from tidying up the accounting records through to preparing the statutory accounts and filing them with Companies House where required. If you are unsure whether micro-entity or small company reporting is available to you, or how your Companies House filing sits alongside any Corporation Tax obligations, those are exactly the questions worth raising early. With transparent fees and clear pricing, you know where you stand before any work begins.

─── 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 usually cover the period from incorporation to the company's first accounting reference date and typically include a balance sheet, a profit and loss account where applicable, notes and the directors' responsibilities that go with the chosen reporting framework. They are a statutory requirement where they apply, not an optional exercise, and they are normally delivered to Companies House where required.

When do first-year accounts have to be filed?

The deadline depends on the company's incorporation date, its accounting reference date and the applicable Companies House requirements, so there is no single date that fits every new company. The first accounting period can also be longer or shorter than twelve months, which affects when the accounts fall due. It is worth checking your company's own dates early rather than working from a general assumption, and we can help you confirm the position for your company in Woolton.

What information is needed to prepare first-year accounts?

The records needed depend on what the company has actually done. Typically that includes bank statements and transactions, sales and income records, business expenses, purchase invoices, asset purchases, director transactions, share capital details, loans or finance arrangements, and payroll or VAT records where those apply. If some records are incomplete, we can help identify what is missing and how best to bring the information together before the accounts are prepared.

Do we still have to file accounts if the company has not traded?

A company may still have statutory filing obligations even where it has had limited or no activity since incorporation. Whether a company is treated as dormant for filing purposes depends on its circumstances and the applicable rules, and that is not something to assume. It is sensible to review the position with an accountant rather than skip a filing on the basis that nothing happened during the period.

Are first-year accounts the same as a CT600?

No. First-year statutory accounts are prepared for the company and delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where applicable, and it is a separate filing with a separate purpose and destination. The figures in the accounts are often used when preparing the Corporation Tax position, but filing the accounts with Companies House does not submit a CT600, and filing a CT600 does not complete the Companies House accounts filing. The company's first Corporation Tax accounting period and its statutory accounts period may also differ.

Does a confirmation statement come with the first-year accounts?

No, a confirmation statement is a separate filing. It confirms that the information Companies House holds about the company — such as directors, registered office and share information — is up to date. Filing first-year accounts does not replace the confirmation statement, and the two are dealt with independently. If your company details have changed since incorporation, it is worth keeping both obligations in view.

Can a newly incorporated company in Woolton prepare micro-entity accounts?

It depends on whether the company meets the eligibility conditions for micro-entity reporting in the relevant accounting period. Not every new company qualifies, and a company is not automatically a micro-entity simply because it is small or recently formed. Where the conditions are met, micro-entity accounts may be prepared under FRS 105, the financial reporting standard for qualifying micro-entities. We can review your circumstances and confirm which framework is appropriate before the accounts are drawn up.

What happens if the 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 the circumstances and how late the filing is. Paying any penalty that arises does not remove the requirement to file the outstanding accounts. If there are reasonable grounds for an appeal against a penalty, eligibility depends on the specific facts and the applicable rules. The most practical step is to address the outstanding filing as soon as possible and, where relevant, seek professional support.