What are the Charity Commission filing obligations for my charity? Part 3: The Annual Accounts
A closer look at your charity’s obligation to prepare and file annual accounts.
Every charity (whether it has reached the threshold for registration with the Commission or not) must keep accounts and prepare annual accounts, which must available to members of the public on request.
However, only registered charities with a gross annual income greater than £25,000 and CIOs, irrespective of income, must file their accounts with the Commission. There are varying requirements depending on income and charities should refer to the Charities SORP for detailed requirements. For example, there are specific requirements in relation to the disclosure of grant making activities, accounting for heritage assets or accounting for branch or linked charities.
Overall, there are several filing requirements of which charity trustees must be aware. Complying with filing requirements not only satisfies the Charity Commission in its role as regulator and ensures the Register of Charities is accurate, but also reassures potential donors and funders and may encourage volunteer and public engagement.
To view the other articles in this series on Charity Commission reporting obligations, please see the links below:
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If you would like to discuss any aspect of this article further, please contact Hayley Marsden or Daniel Lewis on 0113 243 6100. You can also keep up to date by following Wrigleys Charities and Social Economy team on Twitter. The information in this article is necessarily of a general nature. Specific advice should be sought for specific situations. If you have any queries or need any legal advice please feel free to contact Wrigleys Solicitors. |
