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our specialisms

Chartered AccountantsChartered Accountants

Tips for Charities

  • All the Charities must prepare accounts and make them available on request. Charities with gross income of over £25,000 must by law prepare accounts and an annual report as well as an annual return. Failure to submit these to the Charity Commission within 10 months of the financial year end could trigger an investigation.
  • If your gross income is less than £250,000 it is not compulsory for non company charities to do accruals based accounting under the SORP.
  • Your gross income has to be at least £25,000 for there to be a need for an Independent Examination.
  • Charities need only have their financial statements audited if their gross income is over £1m. If you wish to benefit from this then the necessary provisions need to be put in place at your AGM.
  • All Charities are required to report on the public benefit they provide in any Trustee’s Report.
  • Interest received on bank accounts representing restricted funds must be credited to the restricted fund to which it relates.
  • All Charity advertising is now ZERO rated for VAT purposes provided the supply is one of third party advertising to a charity.
  • Small scale fundraising events now qualify for VAT exemption.
  • For non-qualifying events aim for a basic minimum charge with the balance as a donation which is outside the scope of VAT.
  • Appoint a Money Laundering Reporting Officer and train your staff to be aware of the Money Laundering Regulations.

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  • "After many years working in an independent opticians, Victoria and I thought it was time to venture out and consider opening our own opticians practice.
    We had never previously run our own business, and wanted to look for some professional and impartial advice. After speaking with other opticians, we were advised to speak with Desirie from Morris & Co.
    What can we say! From our first tentative telephone call to Desirie, to find out how we might set up a new business, all the way through to purchasing our practice, and finally opening the doors to customers, Desirie has been an inspiration. She gave us excellent advice on how to negotiate at each stage of our purchase, helped us to draw up a realistic business strategy and always kept our feet firmly on the floor.
    Since we began trading in December 2012, we have had frequent contact with Desirie and the team. We would not hesitate to recommend Desirie and Morris & Co as your future accountants, they have given us a great start to our new business, and are always keen to make sure we stay on the right pathway to success”
    Keith and Victoria Williams run Taylors Opticians in Frodsham
  • "Over a number of years Morris & Co have provided me with sound financial and business advice. Their in depth knowledge of my particular sector has proved invaluable and they explain my accounts in a way that is easy to understand. All my questions are answered promptly and efficiently and I really appreciate their level of expertise."
    David Evans, R T Booth & Co Ltd
  • "In addition to providing management and year end accounts, Morris & Co have assisted me with and prepared business plans and cash flow forecasts... to help me make vital business decisions."
    Dave Lawson, Cardiff
  • "We have found them efficient and user friendly, and have made a big saving in our accountancy and bookkeeping costs. I can unreservedly recommend the arrangement to my fellow franchisees."
    Colin Donald, Slough
  • "I am delighted with the service I have received from Morris & Co. As BFA Affiliate's I have confidence in their level of knowledge and expertise. As a result I am free to concentrate on building my business with their help and advice."
    Simon Wise, Driver Hire London North
  • "At first I was somewhat reluctant... I have been able to establish a mutual trust and experienced a professional and thorough service."
    Kevin Morrissey, Sheffield
  • "When appointing an accountant it was very important to me to select someone who was not only knowledgeable but friendly and approachable. I have always received proactive, professional advice and I know that the specialist advice I require to run my business is only ever a phone call away. A VAT full cost and apportionment calculation was recently undertaken for my company. As a result of this, my percentages have reduced, thereby saving me additional money."
    Ian McGarvey