At MMP, we understand the unique financial challenges and opportunities that UK charities face. Our team of experienced accountants is dedicated to providing tailored accounting and advisory services that are designed to support your mission, allowing you to spend more time on what truly matters.
We provide expert accounting services tailored to the unique needs of UK charities. Below are some common questions we hear from charities like yours.
Charities must produce a balance sheet, statement of financial activities (SOFA), and cash flow statement. These reports provide an overview of the charity’s financial position, income, and expenditure, ensuring compliance with regulatory requirements and supporting transparent financial management.
Accounting standards for UK charities can be found in the Charities SORP (Statement of Recommended Practice) and the Charity Commission’s guidelines. MMP can check your charity adheres to these standards, helping you stay compliant with regulations while maintaining transparent financial reporting.
Restricted funds must be used for specific purposes as designated by donors, while unrestricted funds can be used freely. We can help you properly allocate and report these funds in your financial statements, ensuring compliance with charity regulations and providing transparency in fund management.
For charities, we recommend Xero, QuickBooks, or Sage, as they offer tailored features for nonprofit organisations, including fund tracking and donation management. MMP can help you choose, set up, and provide training on the best solution to meet your charity’s specific accounting needs.
Your charity’s success is our priority. Contact us today…
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