All posts by Giles Kerkham

Accounting changes for Academies – 2017

Giles Kerkham

Summary

Following the end of election purdah restrictions, the Education and Skills Funding Agency (ESFA) has issued its annual revision to the Academies Accounts Direction (AAD) 2016 to 2017, which will determine the format of accounts prepared by Academy Trusts for the year to 31 August 2017.

The changes noticed by most trusts will be limited, but there are additional disclosures and clarifications for trusts with specific circumstances.

Read More

Charity reserves: building financial resilience

Giles Kerkham

There has been a significant change in the focus of the Charity Commission’s guidance on reserves (CC19 – revised in 2016). The new key messages include underlying steer towards keeping reserves to address risks of ‘unplanned closures’ and to plan for the maintenance of essential services. This is a turnaround from having to justify why reserves are being retained, to requiring an explanation as to why they are adequate.

Read More

Budget 2017 – What it means for the Not for Profit Sector

Giles Kerkham

With the vast majority of measures already being announced, and with very few sector specific announcements, there were no real surprises for the Not for Profit (NFP) sector in the 2017 Spring Budget.

Items with a NFP focus which were previously made public and will come into effect shortly include:

Amendments to Social Investment Tax Relief (SITR) – whilst the government has increased the amount of investment which can be raised under this scheme to £1.

Read More

How effective is your charity board?

Giles Kerkham

With MHA, we have created Keeping Your Charity on the Right Track, a 12 month programme to help you improve your organisational governance in a stepped and measured way. Each month’s article covers an area of charity governance for review.

To be effective, charity board members must fully understand their role.

Read More

#GivingTuesday – Getting involved on 1 December

Giles Kerkham

We wanted to share the following, received from Charities Aid Foundation:

You may have heard of #GivingTuesday, a global campaign that was brought from the US to the UK last year by the Charities Aid Foundation in partnership with BlackBaud. After the two days of mass consumerism that we know as ‘Black Friday’ and ‘Cyber Monday’, #GivingTuesday provides the opportunity for 24 hours of pure selfless giving by both individuals and organisations.

Read More

Charity audit threshold to double to £1 million

Giles Kerkham

The Government has confirmed its intention to double the income threshold for charity audit to £1 million from £500 thousand. Assuming the regulations are passed as planned, charities with accounting periods ending on or after 31 March 2015 would be able to apply the new thresholds in deciding which form of scrutiny is appropriate or necessary.

Read More

Autumn Statement 2014: positive announcements for charities

Giles Kerkham

The festive season has got off to a great start with good news for charities in the Autumn Statement. The National Press coverage is concentrating on stamp duty reforms that will affect you if you are buying a home, amongst other announcements. Hidden behind those headlines are a number of positive measures for charities; perhaps the most direct measures are the extension of VAT rebate schemes for hospices and search and rescue charities.

Read More