The SORP and guidance for larger non-company and company charities

Larger non-company and company charities prepare accounts on an accruals basis and therefore are required to use the SORP.

The Charities’ Statement of Recommended Practice published in March 2005 (SORP 2005) provides accounting recommendations and provides the format and content of charity reports and accounts. It applies to charities that prepare accruals accounts to give “a true and fair view.” SORP 2005 was reprinted as a second edition in May 2008 with its legal references updated. Its recommendations remain unchanged and therefore accounting policy notes should still refer to the ‘methods and principles’ of SORP 2005.

SORP 2005

Charities with an accounting period beginning on or after 1 April 2005 should refer to SORP 2005.

Example Trustees' Annual Reports and Accounts

A number of examples of charity reports and accounts prepared under SORP 2005 are available to help those designing the format and layout of their accounts.

• Examples updated for new public benefit reporting requirements
• Examples for accounting periods commencing before 1 April 2008

Online Accounts Award winners set an example

ICAEW charities online financial report and accounts awards recognise excellence in financial reporting and encourage best practice in online financial accounts with examples of all sizes of charity. Take a look at these award winners for some practical assistance in preparing high quality reports and accounts.