We can help your charity or non-for-profit organisation thrive. Based in Nottingham, our team of chartered accountants supports charities across the UK. We offer expert guidance on financial reporting, compliance with charity regulations, and ensuring transparency, so your charity can focus on its mission with confidence.
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’s chartered accountants works closely with many charities and are experienced accountants in this field, so are well placed to offer professional advice.
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’s chartered accountants works closely with many charities and are experienced accountants in this field, so are well placed to offer professional advice.
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 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.
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.
As a member of the Accelerate network, Page Kirk is part of a forward-thinking community of independent accountancy firms that share specialist knowledge, sector insight and technical training. Accelerate is also a business associate of Crowe Global, one of the world’s leading accounting networks, with member firms in more than 130 countries.
Clear, practical guidance on the latest charity accounting rules
Insights into what’s working well for similar organisations across the UK and internationally
Help navigating challenges such as online fundraising and compliance
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
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 to successfully deliver essential services without distraction. Not-for-profit accounting can be 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.
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
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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