Charity Accounts

Legal Position

All charities are required to prepare accounts and make them available on request. In addition, charities may also be faced with extra regulations surrounding their annual accounts, depending on the legal status of the charity. However, the way in which each charity must maintain, prepare and report its accounts depends on its income and expenditure, gross assets and constitution.

The following summary we hope will be useful:-

All registered charities with gross income less than £25,000

Need to file annual information with the Charity Commission.

All registered charities with gross income more than £25,000

Need to file accounts and annual report with the Charity Commission.

Non-company charities with a gross annual income of £250,000 or less

Option to prepare a simple set of receipt and payment accounts.

All charitable companies regardless of gross income

Must file accounts and annual report with Companies House.

Non-company charities with gross annual income of £250,000 or less

Option to prepare a simple set of receipts and payments accounts.

Both charitable companies and non-company charities with gross annual income of more than £250,000

Must prepare accounts on an accruals basis in accordance with the Charities' Statement of Recommended Practice (SORP).

We are happy to help any charity, big or small, produce annual accounts that not only comply with the necessary legislation, but are also meaningful.

Why Plummer Parsons for your Charity Accounts?

Our specialist charity team prepare the accounts for a wide variety of local and national charities.  With this experience they will guide your charity through the complexities surrounding the annual report and accounts. We will let you know:-

  • If the annual accounts need to be filed with an external body and the filing deadline.
  • If an audit or examination is required.
  • The most suitable method of accounting for your annual accounts - smaller charities are often allowed to produce a simple set of receipts and payments accounts: saving considerable time and charity expense.
  • The best format for your annual accounts, to ensure they present information in a clear and understandable way. 
  • What needs to go in your Annual Report or Trustees' Report.

As well as preparing charity annual accounts, we also offer charity independent examinations to all eligible charities and a dedicated charity audit service to the larger charities.

We are proud that four members of our charity specialist team have the respected Diploma in Charity Accounting (DChA) qualification in recognition of their experience in the charity sector - which equates to some 50 years, and counting! 
 
If you are interested in any of our services, or simply want to discuss your charity with a member of our charity specialist team, please contact us.