First-year accounts for limited company in Woodley

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

Woodley is in the Wokingham council area, in the South East region. ONS figures for 2026 count 8,585 VAT- or PAYE-registered businesses in Wokingham, and 7,800 of them (91%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in Wokingham are professional, scientific and technical services (1,675), information and communication (1,470) and construction (1,060). If you work in professional, scientific and technical services in Woodley, 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 21% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Woodley (Wokingham 005) has 235 VAT- or PAYE-registered businesses, and 210 of them (89%) are micro businesses.

Wokingham ranks 417 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 information and communication (1,470 micro businesses in Wokingham), software subscriptions, equipment and contractor invoices are common, and contractors often ask about IR35, so we review both when preparing your return. In construction (1,060 micro businesses in Wokingham), Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared.