How to make charities financially resilient: consider government support, make clear documented decisions, control cashflow and be alert to the guidance from Companies House and the Charity Commission.
Accounts
Autumn Budget 2018 Summary
In his Budget speech yesterday, Philip Hammond described his Budget as one for hard working families; for strivers, grafters and carers. On several occasions he repeated the phrase “austerity is coming to an end” (not “at an end” as the PM had said), before announcing...
Assurance options
For various reasons a business or a charity may need to assure interested third parties, its own management or shareholders/stakeholders that its financial statements are a true representation of its financial position.There are several ways that this assurance may be...
Cash flow case study
Our client has a profitable business, dealing with high volume, low margin product which is subject to significant increases in raw material costs and extended supplier deadlines. The owners understandably prioritise satisfying customer demand over reducing the cash...
GDPR – a simple summary
As an SME ourselves, we wanted to get to the GDPR point.What do we need to do differently on 25 May that we don’t do now? We couldn’t find a simple summary, so we set about condensing the Information Commissioner’s Office published content on the subject. Here it is....
Charities materially misstate accounts
The Charity Commission expects trustees to take compliance with accounting requirements seriously.It was not impressed with the 97 charities, with a collective income of almost £195 million, who filed accounts where their auditors stated that the accounts were or...
Charity newsletter
In this issue of our charity newsletter we consider the impact of fundraising regulation, relevant consultations and legislative changes. We also include an update on Gift Aid and the Gift Aid Small Donations Scheme, Digital advice for charities and the introduction...
Register of people with significant control
Who's pulling the strings?UK Companies and LLPs are now required to identify and record the people who own and control their company. Companies must file the People with Significant Control (PSC) information with Companies House. The PSC register helps to increase...
Cashflow is king
We all know the importance of a healthy cashflow, but controlling it relies heavily on having a robust cashflow forecast that is regularly updated and reviewed. With your forecasts in place, to tightly control the flow of cash you will need to: Invoice; accurately,...
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