![]() ![]() If your charity’s income is less than £500,000, you can choose how you report on this. ![]() This helps people, including funders and beneficiaries, to understand why your charity does what it does. Whether you complete a simple or full trustees’ annual report, by law you must report how you have carried out your charity’s purposes for the public benefit. The annual report should include examples, visuals, and graphs to help illustrate the key points and takeaways. It should explain the company’s strategies and objectives and provide an overview of its operations and performance. Otherwise, you’ll need to use the FRS 102 SORP. The annual report should tell a story about the company’s performance and progress. the value of all its assets is less than £3.26m.Your charity will count as a smaller entity and can use the FRSSE SORP if any 2 of the following statements is true: further and higher education institutionsįor accounting periods prior to 1 January 2015, use SORP 2005.įor one year (accounting periods beginning on or after 1 January 2015), if you are a smaller entity, there is a choice between using either:.encourage consistency in accounting standardsįor accounting periods beginning on or after 1 January 2016, use the Charities SORP (FRS 102) if your charity is preparing accruals accounts unless there’s a specific SORP for your type of charity, for example:.help charity trustees meet their legal requirement for their accounts to give a true and fair view.Charities’ SORPĪ statement of recommended practice (SORP) gives a framework for accounting and reporting, designed to: Upload a copy of your trustees’ annual report as a PDF file when you send your annual return to the Charity Commission. your charity’s income is above £500,000 (or above £250,000 if its assets are worth more than £3.26 million)Ī full report needs to follow the guidelines set out by SORP.Prepare a full trustees’ annual report if either: Trustees’ annual report template for smaller, non-company charities Reports for large or company charities ![]()
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