Industrial and Provident Society Accounts Format

Industrial and Provident Society Accounts Format

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I'm preparing a set of accounts voluntarily for a new I&P society (or registered society as I think they should now be called) and was hoping I'd be able to find a standard set of accounts I could crib from.  As I&P accounts aren't publicly available however this is proving difficult.

They're only small as this is their first year and are passing a resolution so that there is no need for an audit or accountants report as they're under the threshold.

Can anyone point me in the right direction of an example set of accounts, or should I just follow CA 2006?  Or is even that overkill?!  I don't want to make it more complicated than I have to, but also don't want to not meet the necessary legislative requirements.

Any help would be much appreciated.

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By paulwakefield1
03rd Sep 2014 09:36

IPS accounts

Is your IPS for the Benefit of the community or a Cooperative Society?

If the former, I can send you a copy of the accounts for a village owned pub. They were completed (just!) before the new Act came into force so do not incorporate the new nomenclature.

Make sure the Society rules allow audit dispensation - they probably do but it's not always the case.

IPS accounts are public and you can get them from the FCA but they are expensive at £12.

There is some information here which may be of use:

http://www.fca.org.uk/firms/firm-types/mutual-societies/faqs

It is also worth getting hold of a copy of the FCA notes for their form AR30 downloadable from here:

http://www.fca.org.uk/your-fca/documents/forms/annual-return-ar30-indust...

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Replying to DJKL:
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By JoanneH
03rd Sep 2014 20:58

The IPS is for the benefit of

The IPS is for the benefit of the community.  A copy of the accounts you mention would be great!  Thanks so much for the links and the help.  Jo

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