First-year accounts for limited company in Coleford

First-year accounts for new Coleford companies

Your first accounts normally cover a little over twelve months, running from the day you incorporated to your accounting reference date, and the period can never be longer than 18 months. For most companies the first accounts are due 21 months after incorporation. You must also register for Corporation Tax within three months of starting to trade.

First company accounts for Coleford businesses: local facts

Coleford is in the Forest of Dean council area, in the South West region. In Forest of Dean, 3,430 of the 3,800 VAT- and PAYE-registered businesses in the 2026 ONS count have fewer than ten employees, around 90%. If you run a company in Coleford, you are in good company.

The largest groups of micro businesses in Forest of Dean are construction (585), agriculture, forestry and fishing (475) and wholesale and retail (450). For construction companies in Coleford, Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. That puts construction at 17% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Coleford (Forest of Dean 007) has 380 VAT- or PAYE-registered businesses, and 340 of them (89%) are micro businesses.

Forest of Dean ranks 966 of the 1105 areas we serve by number of micro businesses, and its micro share of 90% is in line with the 89% average across them. In agriculture, forestry and fishing (475 micro businesses in Forest of Dean), seasonal income, grants and farm equipment need careful year-end treatment, so we tie your accounts to bank records and an asset register. In wholesale and retail (450 micro businesses in Forest of Dean), closing stock and the VAT treatment of different product lines are the usual pressure points, so we value stock carefully and check your VAT records.