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Charity Accounts and Audits Department
As a Charitable or not-for-profit organisation today, you're expected to compete with commercial businesses. Charity Accounts and Audits are subject to increased public scrutiny, frequent changes in legislation, continuing effects of the recession, and changing customer trends.
You're expected to be au fair with the tax implications of charity trading, aware of the new disclosure requirements (FSR 30 Heritage Assets), organise yourself for the reduced Gift Aid reclamation period and account for Public Benefit Requirement. You have to worry about SORP compliance, VAT, audits, governance reviews, funding, and a host of other issues.
While managing the day-to-day running of your business it's easy, for example, to confuse restricted and unrestricted funds, allocate assets and liabilities wrongly and capitalise assets when there are donations to fund them.
We make all this all easy for you and help you run your charity smoothly and efficiently. At EuraAuditUK our specialists simplify everything for Charities and help you understand and use your annual reports for maximum benefit. We also keep you up to date with the latest trends and legislation in the sector so you can compete effectively. We help with growth, compliance with the Charities Act, deeds of covenant, formation of limited companies, budgeting, cash flow projections, management reporting and payroll.
For a free consultation contact Andrew Ferguson our in-house specialist in Charity Audits and Accounts or find an office near you.
EuraAuditUK has worked with large and small Yorkshire charities for over 70 years. Charity sectors include faith-based and community-based charities, care homes, housing associaions, animal welfare, education, theatres, private trusts and charities in different sectors - sport, recreation, conservation, medical, professional and relief based charities.
Charity News
Gift Aid reclamation period reduced to four years
From April 2010, you will have only four years (not six) to reclaim Gift Aid on Donations. Although this change was not targeted specifically at charities it is now important to ensure that you have reclaimed all the Gift Aid to which you are entitled.
FRS 30 Heritage Assets
There are new disclosure requirements for reporting the content and the value of collections which are explained in FSR 30 – Heritage Assets issued by the Accounting Standards Board. For more information contact Andrew Ferguson or click here for the full report.
Understanding ‘Public Benefit Requirement’
Charities are required by law to demonstrate how their aims forward the public benefit. The Charities Benefit Commission has produced reports to guide Charities in this area which cover– The prevention of Relief from Poverty, the Advancement of Religion for Public Benefit, the Advancement of Education for the Public Benefit and Public Benefit and Fee Charging. For Details of these reviews, follow this link -
