Information - Organisational

Accounts & Finance

Writing an Annual Report (and Accounts) - Guide (June 2010)

A request to write an Annual Report (and accounts) can cause panic - this Guide has been produced by MVA to help you.

If you want to receive an copy, please contact the MVA Information Officer, or tel: 0131 663 9471.

 

Sources of Information

  1. The Scottish Council for Voluntary Organisations (SCVO) website www.scvo.org.uk has a useful section on Managing Money.

  2. The Office of the Scottish Charity Regulator (OSCR) www.oscr.org.uk has published Accounting Guidance for charities on their website http://www.oscr.org.uk/ScottishCharityAccounting.stm. The Guidance includes easy to follow charts to help you decide what type of accounts and external scrutiny* you require if you have charitable status (including charitable companies). *e.g. independent examination by a qualified person; accountant's report in accordance with the Companies Act 1985; Audit (see OSCR's page on Scottish Charity Accounting). Note, it is also important to check what your governing document (for example, constitution) says (see OSCR Guidance for further information).

  3. Independent examination - if you are looking for a qualified independent examiner, the website of the Association of Charity Independent Examiners (ACIE) http://www.acie.org.uk/ includes a Directory of members.

  4. Taxes - tax guidance for Charities and Community Amateur Sports Clubs can be found on the HM Revenue and Customs (HMRC) website - http://www.hmrc.gov.uk/charities/

  5. VAT guidance for charities and not-for-profit organisations - information on VAT can be found on the HM Revenue and Customs website - http://www.hmrc.gov.uk/charities/vat/index.htm.

It is very important to ensure that your organisation obtains the correct type of accounts and external scrutiny as required by relevant regulations, for example, if it has charitable status or is a company limited by guarantee.

If your organisation is a small voluntary association (that is, not a company, or other regulated structure, for example, a credit union) with small amounts of income/expenditure and assets, which does not have charitable status, the instructions about your accounts and any examination required should be laid out in your constitution and these should be followed carefully. It is also possible that, even if you are not subject to any regulation as to your accounts, you may find that your funder(s) have specific requirements in addition to those in your constitution.

MVA holds some publications on accounts and finance in our Resource Room which can be viewed by arrangement, tel: 0131 663 9471.

MVA also run regular training events to help you run your organisation.  Information on MVA training, and other events can be found in the Calendar section.

If your organisation or group is working or based in Midlothian (or intends to do so), please contact the staff at Midlothian Voluntary Action if you require further information - see Contact MVA.

 

Note:  all the information on this website applies to organisations based in and/or operating in Scotland.

 

Disclaimer; Enabling Accessibility

If you experience problems downloading any documents, or are unable to find the information you are looking for, or if you would like some help, please contact MVA’s Information Officer.