Charities and not-for-profit

We believe we are the leading accountancy firm for charities in Cornwall and we currently act for over 60 such organisations, ranging from the smallest of local foundations to branches of nationally known entities.

We have a dedicated team of specialists with a wealth of experience of both the technical and the practical requirements, who work with charities and not for profit organisations. Mark Williams, our Charities Partner, holds the prestigious Diploma in Charity Accounting issued by the Institute of Chartered Accountants in England & Wales.

With the significant regulatory demands placed on charities we can provide a high quality pro-active approach to a charity’s needs, our aim being to ensure our clients meet any new regulatory requirements and are aware of any other charity issues that may affect them.

Being the trustee of a charity can be an onerous task and such trustees have a number of statutory duties.  We assist trustees in these duties that include the following:

  • Preparation of annual accounts in the appropriate format (SORP 2015)
  • Statutory audit in accordance with Companies Act, Charities Act or other regulatory body
  • Independent examination of accounts (if no audit requirement)
  • Company secretarial (annual returns submission etc)
  • Tax compliance

Other services provided include:

  • Management accounts and book-keeping
  • Implementing accounting software
  • Charity specific issues (e.g. SORP, public benefit, accounting standards, incorporation)

We can also assist in the establishment of new charities and in the necessary applications for charitable status.

We pride ourselves on adding value to our work and therefore we provide feedback where we believe that accounting systems and controls could be improved to aid the efficient running of the charity. We also attend board meetings and Annual General Meetings to comment on the accounts and other relevant issues.

Many people believe that charities do not encounter issues in respect of direct and indirect taxation. In reality this is far from the case, and many charities will require tax advice from time to time. With charities receiving their income from various sources this often means that there is a complex VAT position that requires review. We are experienced in providing such advice, whether it is in respect of capital projects, new funding streams or other compliance matters, such as the practical operation of partial exemption.

Usually charities are exempt from direct taxation, however a change in a charity’s income sources can often mean that these exemptions are lost. Again, we are able to assist our clients in this area.

We can also carry out an efficient book keeping service for our charity clients as well as provide regular management accounts where the trustees feel that it is more efficient to outsource such a service.

We produce regular newsletters for our clients and contacts which cover topical issues as well as accounting and tax changes that charity trustees and staff should be aware of. If you are not a client of Robinson Reed Layton but would like to be included on our mailing list then please contact Mark Williams.

To view the latest edition of our charity newsletter please click here.

For further information, please contact a member of our charity team:

Mark Williams
Simon Reed
Amalia Chambers
Ben Rance