First-year accounts for limited company in Wotton-under-Edge

First-year accounts for new Wotton-under-Edge 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 Wotton-under-Edge businesses: local facts

Wotton-under-Edge is in the Stroud council area, in the South West region. ONS figures for 2026 count 5,810 VAT- or PAYE-registered businesses in Stroud, and 5,195 of them (89%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in Stroud are professional, scientific and technical services (955), construction (790) and wholesale and retail (655). For professional, scientific and technical services companies in Wotton-under-Edge, 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 18% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Wotton-under-Edge (Stroud 015) has 400 VAT- or PAYE-registered businesses, and 365 of them (91%) are micro businesses.

Stroud ranks 688 of the 1105 areas we serve by number of micro businesses, and its micro share of 89% is in line with the 89% average across them. In construction (790 micro businesses in Stroud), 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 (655 micro businesses in Stroud), 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.