New accounting templates aim to help smaller charities ‘get it right first time’

The Charity Commission has launched an accounts templates pack aimed at helping small charitable companies to prepare their accounts.

The new templates have been produced as a result of a close working partnership with Companies House and the Charity Commission to ensure that the templates reflect the regulatory requirements, current guidance and best practice.

Smaller charities with incomes of less than £500,000 make up around 77 per cent of the charitable companies on the Commission’s register and it is hoped that the new templates will make it easier for charities to ensure their accounts are prepared in the correct format and to an acceptable standard.

Paula Sussex, Chief Executive, at the Charity Commission said: “Our renewed focus on enablement is all about supporting trustees and charities to get it right first time. Working closely with our colleagues at Companies House we have ensured that our templates contain the right information to meet the regulatory requirements.

“The public have told us that they expect charities to be able to accurately account for the funds that donors give so generously. This toolkit for charities will enable smaller charitable companies to submit accounts that meet the high standards that the public expect.”

Tim Moss, Chief Executive, at Companies House said: “I am pleased that our partnership with the Charity Commission has produced these new resources for charities, ensuring that the public and donors can continued to be assured of high standards of company accounting.

“We are committed to exploring further opportunities for partnership and collaboration with the Charity Commission.”

At Moore Thompson, our specialist Charities Team are here to provide support on a wide range of tax, accounting, financial and compliance matters, all aimed at making your life easier so that you can concentrate on your charity’s core objectives of supporting those in need.  For more information about our services, please contact us.