Charity News: Charity model accounts

There are no changes to the Charity SORP to report on in this edition of Charity News, but those preparing charity accounts might be interested to know that the model accounts published by the SORP Committee have been updated. These provide examples of how charity accounts should be presented in order to comply with the latest reporting requirements for charities, including the latest version of the SORP that was published in October 2019.

Two versions of the model accounts are available, the Arts Theatre Trust which is an incorporated charitable company and the Rosanna Grant Trust, which is an unincorporated trust. These examples are developed for charities in England and Wales. The England and Wales examples are being reworked by OSCR for reporting in Scotland.

The SORP website notes that additional model accounts are being prepared that provide further disclosure guidance on how charities should report on the implications of the COVID-19 pandemic.

Guidance: www.bit.ly/36A3AtR

Our full Charity Newsletter can be found here.

For more information on our charity services please visit our website or contact Frank Harling on 01932 830664 or charities@wardwilliams.co.uk

About the author

Frank originally joined PKG in 2005 before it was acquired by Ward Williams in 2010.  Having started at PKG as a Trainee he qualified firstly as an Certified Accounting Technician, before moving on and becoming qualified with the ACCA.

Frank is based at our Uxbridge office as Corporate Services Manager. Frank manages a portfolio of both audit and non-audit clients in a range of different sectors and industries, as well as assisting with the running of the corporate services department.

He has extensive experience of providing Audit, Accounts preparation, Corporation Tax, VAT, CIS and Payroll. Frank also holds a solid experience with regards accounting and audit in a number of specialist areas, including charities, solicitors and pension schemes.

frank.harling@wardwilliams.co.uk

01895 236335