At the end of each financial year, small charities need to prepare a Trustees Annual Report and Annual Accounts in order to fulfil their financial responsibilities. For CIOs (whatever the income) and other registered charities with an income over £25k, these need to be filed online.
The Trustees Annual Report and Accounts is our window to the world. A good set of accounts filed on time is a huge fundraising - and therefore financial resilience - asset. Let's get them right.
Disclaimer. This should be fairly straightforward but over the years it has got quite complicated. None of what follows is professional advice. Always check with a proper professional when deciding what accounts to prepare and how to prepare them.
1.What to prepare
Make sure you know what to expect and that your accounts look like charity accounts. If you are not sure what they should look like you can check out these example accounts from the Charity Commission. If the set that has been prepared for you does not look like charity accounts we recommend that you ask your accountant to explain the differences.
Still unsure?
2.Get them independently checked
3. What else?
4. Final thoughts
Would you like to explore small charity finance training? Let us know
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