Charity and not for profit organisation Accounts
With over 179,000 officially registered charities, managing £51.5bn of income, the charity market has become as highly complex as it is diverse. The ever increasing burden of regulation, on the financial reporting, taxation and activities of a charity, exposes charitable organisations to greater risks of non compliance, which can impact on a charities funding. As a result many charities require the expertise of a specialist accountant in order to manage their financial and business operations appropriately.
One of the ways public trust and confidence in charities is maintained is by the fact that charities are transparent and . All charities must, by law, prepare publicly accessible charity accounts and these charity accounts need comply with the statement of recommended practices issued by the charities commission. Therefore a specialist accountant should be used to prepare your charity accounts.
We at KRA have the expertise to assist your charity whether it is large or small in the following ways:
- We will advise on VAT implications and ensure your business structure reduces Company tax
- We will take the worry out of the preparation of your charity accounts so you can concentrate on the charities activities
- We will complete statutory and non-statutory audit of your charity accounts were required and help with your internal controls
- We offer a complete outsourcing service encompassing bookkeeping and payroll services
- Regulation compliance advice and assisting with communications to the Charity Commission
- Preparation of management accounts, forecasts and budgets and assistance with strategy planning and performance management
To operate successfully charities need to run their organisation as a business, which is why our services are centred on all aspects needed for operating a successful business. We help you to maintain a financially sound organisation focused upon meeting your objectives, by advising upon strategic planning, risk assessment and dealing with the Charity Commission.