Charity Articles - Gravita

Charity Total Return Accounting

Charities in England and Wales are permitted (subject to conditions) to adopt total return accounting in respect of their permanent endowment funds, but how is this accounted for? Normal treatment Without total return accounting, investment income earned from endowment funds is credited to unrestricted or restricted funds in the Statement of Financial Activities (SoFA). It […]

The Statement of Recommended Practice (SORP) for Charities: What you need to know

Written by Audit Partner, Shona Munday The Statement of Recommended Practice (SORP) for charities in the UK is a crucial framework that guides the preparation of financial statements and annual reports for charitable organisations. This framework ensures that charities present their financial information transparently and consistently, maintaining the accounting standards. What is charity SORP? […]

Charities and trading subsidiary companies

For charities, setting up a trading subsidiary company can prove to be a very tax efficient way of raising funds. We explore below how this works, when it can be used and how to overcome the pitfalls that might arise. How does it work? Non-primary purpose trading of a charity can be operated through […]

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Gravita is a trading name of: Gravita Business Services Limited, Gravita II LLP, Gravita AH Limited, Gravita III LLP and Gravita Essex Ltd.

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Gravita Business Services Limited. Registered in England and Wales. Company Reg no: 13128469. VAT number 369869417. Regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.

Gravita Essex Limited. Registered in England and Wales. Company Reg no: 07113456. VAT number 985861654. Registered as Auditors and regulated by the Association of Chartered Certified Accountants.

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