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Charitable limited company accounts

Our audit exempt company client is also a charity for the last year or so. Its turnover will mean that it needs to file accounts with the charity commission, but i see that i can use their template on the web site. Am I right in thinking that for HMRC and Companies House filing purposes that normal company accounts are still produced and submitted.

Sorry to seem dumb and stupid on the matter but this as never cropped up before.

Thanks for reading and any assistance you may give.

John

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No

You should produce a single set of accounts for all purposes. They need to comply with both the SORP and the Companies Acts so they will have a SOFA instead of a P&L and a full Trustees report instead of a directors report..

Sage Accounts Production have a format for it, I do not know about the other packages.

If you want more then PM me

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charitable accounts

I do it differently. If the company is a small audit exempt company, as well as being a small audit exempt charity.

all you need file at co.house is the minimum- a front cover and a statutory balance sheet with basic notes... Remember (if it is a co ltd by guarantee) the co hse online draft is only for companies with shares- so you will have to print  and file by post.

For the charity commission prepare a set of accounts in an approved charity format appropriate for the size of charity. Most acs software providers have a template, or will provide one for a fee.

For the trustees' report use the straightforward charity commission online draft. Print it up as a PDF, then integrate it into your accounts.

Save this lot as one pdf and file with the CC online.

One bite at a time- to avoid indigestion.

David Gordon- CRSA Ltd

Charities Registration Service & Accounting

 

 

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Ltd by g'tee filed online

I have successfully filed "limited by guarantee" audit exempt accounts online with Companies House.  No obvious problems encountered.

 

 

 

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Ltd by G to Co Hse

How do you file LbyG acs at Co Hse - I thought you needed some share capital? You're not putting the guarantee amount on the balance sheet are you?

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How do you deal with the YE dates

Out of interest, how do all of you deal with the Year ending dates for the charity as well as the company.

I am i right in thinking that all charity year end dates are 31/03, whereas the company ones can be any date?

If so dont you have to prepare 2 sets of accounts?

 

Lambert Martin Ltd

www.lambertmartin.co.uk

 

 

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Charities can have any year end date. If they are also a limited company they must produce accounts for both Companies House and the Charity Commission. There needs only be one set of accounts (see chris Smail's comment above.) There is only one year end.

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Your website claims you are charity specialists???

 

school63, I've just looked at your website and you claim to be charity specialists, yet think all charities have to have a 31st March year end? are you taking the proverbial?

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What jpcc1 said, its a bit scary if you have to ask that question...

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Co's House filing online

The Companies House .pdf template WILL accept accounts with no share capital figure.

Notes can be added regarding Ltd by G'tee.

 

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Sooo Many Wrong Statements!

1) the SORP does not permit abbreviated accounts for limited company charities. The Sorp is an accounting standard and failure to comply with its provisions would be in breach of the law and professional requirements. You might well be able to file abbreviated accounts with the Registrar but it would be wrong and it does not matter whether it is an audit, an examination or exempt from scrutiny. I know Peter Brown of SORPaid agrees with me as I cut and pasted that from an earlier discussion on the ICAEW website.

2) The Companies House Online does accept Companies Limited by Guarantee, in fact the Share Capital note only comes up if you tick it

 

3) School63 - Where on earth did you get the 31 March Year end story from?  The only thing I know of like that is that Friendly Societies under the old Act are stuck with 31 December.

 

All this is clearly set out in the Charity Commission guidance!

Chris Smail FCA DChA

 

 

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Chris Smail is right

You can't go sending different accounts to Companies House and the Charity Commission!  If QAD or other other quality control visitors are monitoring this thread, some of you are in for a visit.

Tony Ball  FCA  FCIE

 

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Independent Examiner,s Report

Is the independent examiners report different to accountants report of a Limited company?

As you are aware there are no reporting accountants for small and medium size limited companies under the charities act 2011.

Can anyone forward a sample report for an independent examiner who reported on a Limited Company under the new Act?

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