The following Private Client guidance note provides comprehensive and up to date legal information covering:
The requirements for reporting and accounting by charities are set out in sections 130–176, Part 8 Charity Accounts, Reports and Returns of the Charities Act 2011 (CA 2011), the Charities (Accounts and Reports) Regulations 2008 and supplemented by the Statement of Recommended Practice—Accounting and Reporting by Charities issued in March 2005 (SORP). The requirements differ for different sizes and types of charity. To understand what requirements apply check:
whether or not the charity is also a company
its income for the current financial year
the value of its assets and
whether or not it is required to be registered with the Charity Commission for England and Wales (the Commission) as a charity
what type of accounts must be prepared
what information is needed in the Trustee's Annual Report
whether the accounts need an independent examination or audit and
what information must be sent to the Commission.
Basis of preparation—accounts must be prepared either on the receipts and payments basis or the accruals basis
External scrutiny—there is no requirement to have the accounts independently examined or audited unless the charity's governing document stipulates it
Type of annual report—an Annual Report must be prepared (unless excepted from registration). This may be simplified
Information to be
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