Preparation of registered charity accounts is not as straightforward as limited companies.

The format of accounts is determined by the Office of the Scottish Regulator (OSCR) and by accounting rules set by the Financial Reporting Council.

These rules require the charity to prepare a detailed trustee report (TAR) supported by a Statement of Financial Activity (SOFA) and Balance Sheet with relevant notes. In particular the accounts have to differentiate between results for restricted funds (ie specified by the donor for a particular use) and unrestricted funds (able to be used by the trustees according to the constitution of the charity).

We have extensive experience of the preparation of charity accounts and the legislation required to be met by the trustees and can advise on the rules which have to be followed for different sizes of charities

We also have experience of another form of social enterprise called a Community Interest Company (CIC) which may sometimes be more suitable than a charity as it can attract external investment rather than relying on grants and donations.