With almost half of our audit clients coming from the charities and not-for-profit sector, we pride ourselves on our understanding and knowledge of the issues which are important to you.
What is the sector and what does it need?
The charity and not for profit sector consists of organisations acting for public benefit rather than profit.
As such the drivers for not-for-profit organisations often differ from those of commercial entities. Board members without day-to-day involvement in the organisation have different needs from full-time directors and we build that understanding into our approach.
As the level of public interest is higher for charities, the regime of scrutiny is higher too. An audit is required if your income exceeds £1million or if your assets exceed £3.26 million and income is more than £250,000. You may also have a requirement for an audit if your governing document dictates it.
Below these levels, once income is higher than £25,000, you will need an independent examination of your accounts on an annual basis.
What is the sector and what does it need?
The charity and not for profit sector consists of organisations acting for public benefit rather than profit.
As such the drivers for not-for-profit organisations often differ from those of commercial entities. Board members without day-to-day involvement in the organisation have different needs from full-time directors and we build that understanding into our approach.
As the level of public interest is higher for charities, the regime of scrutiny is higher too. An audit is required if your income exceeds £1million or if your assets exceed £3.26 million and income is more than £250,000. You may also have a requirement for an audit if your governing document dictates it.
Below these levels, once income is higher than £25,000, you will need an independent examination of your accounts on an annual basis.
Why us?
We understand that charitable organisations look at success differently. It’s not just about profits; it’s about making a lasting change, so we position ourselves as more than just accountants – we’re partners who care about your cause. Our job is to understand and support you and guide you through the challenges of charity audit and accounting.
We have a dedicated charity and not for profit team who fully understand the sector, the technical requirements of the accounts and the issues you face.
Our approach is all about being friendly and easy to work with. We want to take the stress out of dealing with numbers and make everything as clear and straightforward as possible. We respect tradition, but we are also excited about the future. Our experienced non-profit team is always looking for new, better ways to do things, using technology to our advantage. At WR Partners, simplicity, clarity, and transparency guide everything we do.
How we can help
We provide a variety of compliance services such as audit, preparation of statutory accounts, independent examination, and tax computations, together with other services such as governance reviews and training, provision of sector specialist newsletters and updates, reviews of financial controls and risk management.
In these changing times, we can work with you remotely, via traditional on-site visits or a blend of both. In this sector the increase in virtual meetings has proved hugely beneficial to board members who often live away from their charities, cutting down on travel and expense. We will liaise with you to find a system that best meets your needs.
Our Services
- Audit
- Preparation of statutory accounts
- Independent examination
- Governance Training
- Grant audits
- Payroll
- VAT
- Provision of accounting software
Charities & Non-Profits
Charities & Non-Profits
Get in Touch
We love meeting new, exciting businesses. Get in touch with our team to see how we could enhance and protect your financial position.
Or if you’d prefer to speak to someone directly just give us a call on: 08000 664 664 or email: hello@wrpartners.co.uk.
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