First-year accounts for limited company in Tenterden

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

Tenterden is in the Ashford council area, in the South East region. Ashford has around 6,630 VAT- and PAYE-registered businesses, and 6,055 of them, about 91%, have fewer than ten employees (ONS UK Business Counts, 2026). That is the group the micro-entity rules were written for.

The largest groups of micro businesses in Ashford are construction (1,070), professional, scientific and technical services (945) and wholesale and retail (730). For construction companies in Tenterden, 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 18% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Tenterden (Ashford 013) has 850 VAT- or PAYE-registered businesses, and 790 of them (93%) are micro businesses.

Ashford ranks 608 of the 1105 areas we serve by number of micro businesses, and its micro share of 91% is above the 89% average across them. In professional, scientific and technical services (945 micro businesses in Ashford), 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. In wholesale and retail (730 micro businesses in Ashford), 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.