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Charities

Tudor John has a long history of looking after the needs of its Charity and Not-For-Profit sector clients and Hazel Day BSc FCA DChA is the lead partner within the firm who manages the majority of our larger charity sector clients, supported by a core staff of experienced and enthusiastic individuals.

Our clients range from small local charities to those above the audit threshold, who require a bespoke service, and include organisations in the field of the Arts and Theatre, Healthcare, Community Interest and Faith based enterprises amongst many others.

Preparing your Charity Accounts

According to the Charity Commission, one of the ways public trust and confidence is maintained is by the fact that charities are transparent and accountable. All charities must, by law, maintain accounting records and prepare publicly accessible reports of their accounts.

However, the way in which each charity must maintain, prepare and report its accounts depends on its income and expenditure, gross assets and constitution. Tudor John can advise you on the appropriate format for your particular organisation.

Charities need to prepare their accounts to comply with the Statements of Recommended Practice (SORP) Accounting and Reporting by Charities. Trustees must keep sufficient accounting records to be able to show and explain all the charities transactions, which is a legal obligation under the Charities Act 1993.

In addition to accounts, all registered charities must prepare a Trustees’ Annual Report and those with income exceeding £25,000 must send this to the Charity Commission. Incorporated charities also have to produce accounts for Companies House and some charities may need to file Corporation Tax or other tax returns as well.

Tudor John will ensure that all of your reporting and compliance responsibilities are met in a timely and accurate manner every year, leaving you free to focus on fund raising and the furtherance of your organisation’s charitable objectives. In addition, we aim to attend the Trustees’ annual meeting to discuss and approve the accounts when considered appropriate.

Audit and Assurance

As a registered charity, an audit will be required if your gross income is in excess of £1,000,000 per annum or £250,000 per annum if your gross assets exceed £3.26m.

You may elect to have an audit carried out, even if you do not meet the criteria, for example where there is a specific audit requirement from a funding provider. Tudor John provides constructive feedback on your systems, controls and other financial safeguards which many of our clients see as real added value to their annual audit process.

Other Services

In addition to the compliance related services of audit and accounts, Tudor John can also offer:

  • Assistance with Grant Applications.
  • Advice on cost recovery.
  • A full book keeping service.
  • Payroll facilities.
  • Advice and guidance on VAT issues as they affect the charitable sector.
  • Guidance on charity sector banking services such as interest bearing deposit accounts, bank charges and commercial loan terms.

For more information, please contact Hazel Day on 01372 742323 or 07984 002123

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Please contact us if you need further advice, have any questions about our services, or would like a free consultation or a fixed quote.

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