Charity Accounts

We can help your charity or not-for-profit organisation thrive.

Managing ‘not for profit’ organisations requires a pragmatic approach. You need a clear understanding of the compliance requirements covering several key points: from how the funds are obtained, to the use of volunteers. Disclosure obligations can inevitably lead to confusion and therefore potentially affect the Charity’s ability to obtain funding.

All charities are required to submit a report to the Charity Commission stating their income and spending within 10 months of the end of the financial period. The level of income the charity has received during the period determines how detailed the accounts must be. Page Kirk works closely with many charities and are experienced accountants in this field, so are well placed to offer professional advice.

Some of the areas we can help with

We’re able to provide a full turn-key solution to your accountancy obligations including:

Preparing year-end charity accounts that are compliant with the Charities Statement of Recommended Practice (SORP), where required
Business planning
Cashflow management and budget planning
Annual audit/Internal audit
Independent examinations (IE)
Management accounts
Running payroll
Bookkeeping
Outsourcing

Fundraising
Specialist grant return certification audits
Specialist VAT advice
PAYE/NIC and VAT health checks
Advice in respect of trading subsidiaries and tax
Advice on gift aid
Financial planning and management strategies
Advice on forming a charity and the structure that best fits your organisation
Charity Commission compliance

Receipts and payments accounts

Receipts and payments accounts are the simplest form of accounting. A set of accounts will consist of a Statement of Financial Activity (SOFA) showing the income received and the payments made by the charity during its financial period. They may also include a balance sheet and cash flow statement, but it is extremely rare. These can be prepared by non-incorporated charities with gross annual income below £250,000.

Accruals accounts

Accruals accounting is a requirement for all non-incorporated charities with gross annual income of over £250,000 and all incorporated charities

A set of accounts will consist of a Statement of Financial Activity (SOFA) showing the income and costs of a charity that relate to that reporting period. This will also include a balance sheet showing the charity’s assets and liabilities at the end of the financial period. This may also include a cash flow, especially if the charity’s gross annual income is over £500,000.

Trustees’ Report

Unless exempt or excepted from registration, all charities must prepare a trustees’ annual report and make it available to the public on request. The level of detail required does depend on the level of gross income earned, with larger charities (gross income of £500,000 or more) needing to include more than a smaller charity.

However, a good quality trustee report will meet all the mandatory requirements while also giving a balanced view of the charity. With this in place, the charity could benefit from obtaining further funding.

Benefits of being a Page Kirk client

Access to your own account manager and a qualified team of experts

Genuine business advice, that looks beyond your numbers

Consideration of both your business and personal interests and tax affairs

Page Kirk is a member of Accelerate, a community of relationship-focused, technology-driven, value-based accounting firms with international coverage through Crowe Global, meaning you have the expertise of a national firm of accountants but the service and relationship of a local and independent firm.

Whether you are seeking your first accountant, looking for a new adviser to get to grips with your charity, or you need advice and assistance with a HMRC tax enquiry, call us today on 0115 955 5500 or email enquiries@pagekirk.co.uk.

Why choose Page Kirk for your Charity needs?

At Page Kirk, we have been supporting charities for many years, providing our expertise and knowledge to help trustees overcome the pitfalls of poorly constructed accounts and successfully deliver their essential services without distraction.

Not-for-profit accounting can complicated and time-consuming, but Page Kirk can complete all the necessary work on your behalf and become your dedicated point of contact for all enquiries.

Our chartered accountants and chartered tax advisers can provide you with all the advice you need, taking the hassle out of your obligations.

A service that is tailor-made for you
Quick response time
Business heritage dating back over 120 years
Nottingham-based accountants with national and international reach
Saving you valuable time with technology solutions
A dedicated tax department with a wealth of experience and expertise

With Page Kirk, not only will your charity be compliant with laws and regulations, but you can also be assured that our team will recognise operational areas for improvement, such as better structures and areas where technology can be used to bring down costs and increase efficiencies.

What’s next?

Arrange a consultation to find out how we can help you. Call us today on 0115 955 5500 or email enquiries@pagekirk.co.uk.

Talk to Our Team

If you already have an accountant, it’s quick and easy to switch to Page Kirk.

Page Kirk is a leading accountancy practice in Nottingham, but we service clients across the country, so wherever you are based, we can help. We will assign you an accountant to assist you in growing your business and improving its efficiency. Contact us to find out how we can help you today.

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From ensuring that you comply with your statutory requirements, to navigating the scaling-up of your business, through to effective profit extraction and dealing with your tax affairs, Page Kirk Nottingham accountants are here for you every step of the way.

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