This might seems to be a simple question , apolgies in advance.
Should a company limited by guarantee prepare 2 sets of accounts ? my understaning is that company limited by guarantee needs to file accounts inaccordance with the Companies Act and do all the necessary complinace as required by the Act - thats means preparing accounts under FRS102 etc. In the same vein if the same company acquired charitable status they will have to comply to the Charities Act e.g filing annual retrun and accounts in accordance with SORP.
So am i justified to conclude that 2 sets of accounts needs to be prepared or i am been dumb?
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Check www. charitiessorp.org
Looks like the CA was amended in 2018 to comply with SORP, so probably only one set required.