At Stanley Yule we can advise on setting up a charity, demonstrating public benefit, SORP compliance, VAT matters, Gift Aid, internal controls and trustee responsibilities and we regularly attend training courses to ensure that we are up-to-date with any new legislation that may impact on our charity clients.
The Charities’ SORP (Statement of Recommended Practice) is the framework for accounting for, and reporting on, a charity’s activities.
All charities with a gross income over £25,000 require their accounting records to be externally scrutinised and must file their Trustees Report with the Charity Commission.
The level of reporting will vary depending on the type and size of charity. For example, if a charity is also registered under the Companies Act then they will also need to submit their financial statements to Companies House in the correct format.