First-year accounts for limited company in Wickham

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

Wickham is in the Winchester council area, in the South East region. Winchester has around 8,235 VAT- and PAYE-registered businesses, and 6,740 of them, about 82%, 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 Winchester are professional, scientific and technical services (1,455), wholesale and retail (1,035) and construction (885). For professional, scientific and technical services companies in Wickham, 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 22% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Wickham (Winchester 013) has 2,220 VAT- or PAYE-registered businesses, and 1,360 of them (61%) are micro businesses.

Winchester ranks 545 of the 1105 areas we serve by number of micro businesses, and its micro share of 82% is below the 89% average across them. In wholesale and retail (1,035 micro businesses in Winchester), 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. In construction (885 micro businesses in Winchester), Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared.