First-year accounts for limited company in Newbury

First-year accounts for new Newbury 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 Newbury businesses: local facts

Newbury is in the West Berkshire council area, in the South East region. ONS figures for 2026 count 8,140 VAT- or PAYE-registered businesses in West Berkshire, and 7,195 of them (88%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in West Berkshire are professional, scientific and technical services (1,435), construction (1,085) and wholesale and retail (820). For professional, scientific and technical services companies in Newbury, fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised. That puts professional, scientific and technical services at 20% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Newbury (West Berkshire 019) has 1,070 VAT- or PAYE-registered businesses, and 860 of them (80%) are micro businesses.

West Berkshire ranks 483 of the 1105 areas we serve by number of micro businesses, and its micro share of 88% is in line with the 89% average across them. In construction (1,085 micro businesses in West Berkshire), Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. In wholesale and retail (820 micro businesses in West Berkshire), 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.