Our Specialist Sectors
Charities & Not for Profit Organisations

Charities must comply with the same regulations as most other businesses in terms of filing accounts, payroll and much more. When time is restricted we know you need to dedicate the time you do have to the benefit of your charity rather than sorting through endless paperwork.

That is why we have a team of experts who can help you:

Preparation of Accounts in Accordance with the Charities SORP

The new Statements of Recommended Practice (SORP’s) which were released in July 2014 came into force, in line with Financial Reporting Standard 102 (FRS 102) for accounting periods starting on or after 1 January 2015.

Keeping up with changes in accounting requirements in order to produce compliant statutory accounts in-house can be a tricky task and the first accounts prepared under the new SORPs will need additional adjustments for re-stated comparative figures. Our team have the knowledge and access to the right software to make this process as efficient and cost effective as possible.

Audit & Independent Examination of Accounts

All charities with incoming or outgoing resources of more than £25,000 per annum will require a certain level of external scrutiny of their accounts. Whatever the level of assurance you require over your accounts we can assist you and will aim to add value to the process wherever possible whether it is an independent examination or a full statutory audit.

VAT

Whilst Charities are usually exempt from direct taxes such as corporation tax, they do still suffer VAT on their expenditure which is often irrecoverable. We can help you consider whether voluntary registration for VAT would be of benefit and ensure that you are taking advantage of all VAT reliefs available to you. We can also provide specific VAT advice on fundraising.

Gift Aid Claims

Not only can we assist in the preparation and submission of Gift Aid claims, we can perform a review of your policies and procedures in relation to Gift Aid, checking information provided to donors and testing your records to ensure that they are compliant. We can then recommend improvements to your process as necessary.

Strategic Advice

Charities can be created in a number of ways but are usually either:
  • incorporated under the Companies Act 2006 or earlier (Limited Company Charities) ;
  • incorporated under the Charities Act 2011 (Charitable Incorporated Organisations – CIOs);or
  • created by a declaration of trust (Unincorporated Charities).
Advising on the best way to structure your charitable activity and issues such as reserves policies are just two of the many elements of the strategic support we can provide.

Trustee Training

It is often considered an honour to act as a trustee for a charity and an opportunity to give something back to the community. However, becoming a trustee involves a certain commitment and level of responsibility which should not be underestimated.

Whether you are already a trustee for a charity, be it a local project or a household name, or are thinking of becoming involved, there are a number of responsibilities that being a trustee places upon you. The CC guidance ‘Becoming a trustee’ explains what it means to be a trustee and how to become one. If you would like to discuss these in more detail please contact us.

Recruitment

If you are struggling to find the right candidates or simply do not have the time, we can help with the identification and selection of candidiates for your finance team.
We would love to hear from you!
Book a free meeting with us today.
David Stevens
Managing Partner and Corporate Services Partner
Charlotte Houghton
Partner

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