─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Yarm: Accurate Preparation and Filing Support

Your company’s first set of statutory accounts is a milestone, and it is rarely as straightforward as it looks. If your limited company has recently been incorporated in Yarm, or has just begun trading, Micro Entity Accounts can prepare its first-year accounts, review the accounting records behind them, and deliver them to Companies House where required. We will also explain how the first accounting period is determined, consider which reporting framework the company is likely to fall within, and keep accounts filing separate from your Corporation Tax position — a CT600 is submitted to HMRC, not Companies House. Transparent fees, careful preparation and support that is genuinely useful to a director dealing with this for the first time.

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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 When Does That Framework Apply?

First-year accounts are the first set of annual statutory accounts a limited company prepares. They cover the company’s initial accounting period, which normally starts on the date of incorporation and ends on the first accounting reference date. That reference date is generally set by reference to the anniversary of incorporation, so two companies incorporated in different months will not share the same first period or the same filing deadline. Once the period has ended, the accounts are prepared, reviewed and approved by the directors, and delivered to Companies House where required. Preparing them is not optional simply because a company is new, or because it has traded very little. Where there has been little or no activity, the reporting position depends on the company’s circumstances and the applicable rules — a company with no significant accounting transactions is not automatically treated as dormant, and dormancy has its own conditions to satisfy. Some newly incorporated companies may be able to use the micro-entity framework, which is designed for smaller entities and can result in a simpler set of accounts. Eligibility is not automatic. It depends on meeting the applicable requirements for the relevant accounting period, assessed against thresholds such as balance sheet total, turnover and employee numbers. Where a company qualifies and adopts that framework, FRS 105 — the financial reporting standard for entities applying the micro-entity regime — sets out how the accounts should be prepared. Where it does not qualify, small-company or fuller reporting requirements may apply instead, and the appropriate framework should be determined from the company’s own circumstances rather than assumed. Two distinctions are worth keeping clear. First-year statutory accounts are not a Corporation Tax Return; a CT600 is submitted to HMRC where the company has Corporation Tax obligations, and it is a separate filing with a separate destination, even though the accounts figures often form the starting point for it. Nor are they a confirmation statement, which is an annual Companies House filing that keeps the public register up to date. And although an accountant may prepare and submit the accounts on the company’s behalf, the directors remain responsible for ensuring the company meets its statutory 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.

First Year Accounts for Limited Company in Yarm — Get Them Prepared Properly from the Start

The first year catches many directors out. Records that seemed adequate at the time turn out to be incomplete, the accounting period has ended sooner than expected, and it is not always obvious whether micro-entity, small-company or fuller reporting applies to the company. Micro Entity Accounts works with newly incorporated and newly trading limited companies on exactly this stage: pulling the accounting records together, preparing a first set of statutory accounts that reflects what actually happened in the period, and handling the Companies House filing where required, while keeping that separate from any Corporation Tax or CT600 work with HMRC. If your company is approaching the end of its first accounting period, or you simply want to know what will be needed before it arrives, it is worth speaking to someone who deals with first-year accounts regularly rather than guessing.

─── 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 a limited company prepares for its initial accounting period. That period normally runs from the incorporation date to the company's first accounting reference date. The accounts set out the company's financial position and performance for that period — typically a balance sheet, and a profit and loss account where the applicable framework and circumstances require one — along with any notes and statements the chosen reporting framework calls for. They are prepared for the company's shareholders and filed with Companies House where required.

When are first-year accounts due at Companies House?

The date is not identical for every company. It depends on the company's accounting reference date, its incorporation date and the fact that this is a first set of accounts, which is calculated differently from subsequent years. Because of that, it is worth confirming the specific date that applies to your company rather than relying on a general rule of thumb, and then working back from it so the accounts are not left until the final weeks.

What information is needed to prepare first-year accounts?

It depends on what the company has actually done during the period. In most cases it means complete accounting records: bank statements and transactions, sales and income records, purchase invoices and expense receipts, details of any assets purchased, share capital information, loans or finance agreements, and any transactions between the company and its directors. Payroll records and VAT records are relevant where the company operates those. Incomplete records can usually be worked through, but the earlier that is raised, the more straightforward the process tends to be.

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

As a general rule, yes. A limited company is expected to prepare and file statutory accounts for each accounting period, including the first one, even where activity has been limited. Whether the company is treated as dormant for that period, and precisely what needs to be filed, depends on its circumstances and the applicable rules. That is not a decision to make by assumption, and directors of newly incorporated companies in Yarm can check their position before the deadline rather than after it.

Are first-year accounts the same as a CT600?

No. They serve different purposes and go to different places. Statutory accounts are prepared for the company's members and delivered to Companies House where required. A Corporation Tax Return, such as a CT600, is submitted to HMRC where the company has Corporation Tax obligations, and the figures from the accounts are often used as a starting point when preparing it. Filing one does not complete the other, and the company's first Corporation Tax accounting period may not be identical to the period covered by its statutory accounts.

Do we still need first-year accounts if the company has not traded?

In most cases the company still has statutory obligations to consider, even where there has been little or no activity. A newly incorporated company with no significant accounting transactions may still need to prepare and file accounts, but the reporting position depends on the circumstances, including whether it meets the conditions to be treated as dormant for the period. Deciding that by assumption can create avoidable problems further down the line, so it is worth taking advice on the correct treatment before anything is filed.

Can a new limited company qualify for micro-entity accounts?

Some do, but not all. Micro-entity reporting is available where a company meets the applicable eligibility requirements for the relevant accounting period, which are assessed against thresholds relating to balance sheet total, turnover and number of employees. A company that qualifies may be able to prepare simpler accounts under FRS 105, the financial reporting standard used by entities applying the micro-entity framework. Eligibility can change as a business grows, so it should be reviewed for each period rather than assumed from the first year onwards.

What happens if first-year accounts are filed late?

Failing to file statutory accounts by the applicable deadline can lead to Companies House consequences, which may include penalties. Paying a penalty does not remove the requirement to file the outstanding accounts. The outcome depends on how late the filing is and on the company's filing history. Where accounts are already overdue, the priority is to get accurate accounts prepared and submitted, and then to consider whether an appeal might be possible in the circumstances — eligibility for that depends on the applicable rules.