Charities

Question 1

Main Rules governing charities

Answer 1

Charities Act 2011

Charity Commission

Statement of Recommended Practice (SORP)

Question 2

Trustees

Answer 2

Runs the charities, they do not benefit personally, but they can become liable for the charity’s debts

Question 3

Financial Statements

(Charities)

Answer 3

Statement of Financial Activities

Statement of Financial Position (Balance Sheet)

Cashflow Statement

Supporting Notes to Financial Statements

Trustee’s Annual Report

Auditor’s Report

Question 4

Where should be the Annual Return be filed by the Trustees?

Answer 4

With the Charity Commission