Running a charity is about purpose, not profit, but sound financial management is essential to keep that purpose alive. At Precision Accountants Ltd, we provide specialist accounting services for charities and non-profits in Sevenoaks, helping you stay compliant with the Charity Commission, manage funds responsibly, and plan for long-term sustainability.
From Gift aid claims to independent examinations, we handle the financial details so you can focus on making a difference in your community.
What Do Charity Accountant Specialists Do?
Charity accounting is unlike any other sector. It’s governed by strict rules, reporting standards, and ethical responsibilities. As experienced charity accountants, we understand the intricacies of SORP, FRS 102, and Charity Commission requirements.
At Precision Accountants Ltd, we work closely with trustees, finance officers, and social enterprises to ensure clarity, compliance, and confidence in your financial reporting. Our advisory services help improve governance, strengthen donor trust, and optimise financial performance for charities of all scales. We don’t just prepare accounts but also help your charity grow responsibly.
Core Accounting Services for Charities
We offer a wide range of accounting services for charities and non-profits, tailored to your structure, size, and goals. Every service is delivered with transparency, accuracy, and your charitable mission at heart.
Tax, Gift Aid & VAT for Charities
Charities are entitled to valuable tax reliefs, but these often come with complex rules. Our team helps you make the most of every opportunity while staying fully compliant with HMRC.
We assist with:
- Registering for and managing Gift Aid claims to increase your fundraising impact.
- Identifying VAT reliefs and ensuring eligibility for partial exemption.
- Advising on primary purpose trading and setting up trading subsidiaries.
- Handling tax returns and compliance with all HMRC charity requirements.
With our guidance, your charity can boost income and maintain transparency with regulators and supporters alike.
Audit & Independent Examination (UK Thresholds)
Depending on your annual income, your charity may require an independent examination or a statutory audit.
Our qualified accountants provide both, ensuring your financial statements comply with UK charity thresholds and Charity Commission expectations. Beyond compliance, our reports offer valuable insight into your charity’s internal controls, governance, and financial sustainability, thus helping you make better decisions with confidence.
Reserves Policy & Financial Sustainability
A well-planned reserves policy builds resilience and reassures funders that your charity can weather future challenges.
We help you:
- Create or review a reserves policy aligned with Charity Commission guidance.
- Forecast cash flow and build robust long-term plans.
- Identify potential risks and design strategies to maintain financial stability.
Our approach combines practicality with foresight—supporting your charity’s ongoing success and reputation.
Pricing & Onboarding
We believe in clear, upfront pricing and flexible packages that suit your organisation’s needs. During onboarding, we take time to understand your structure and goals so we can provide genuinely useful, cost-effective support.
Our onboarding process includes:
- A financial health and compliance review.
- Assessment of your current systems and processes.
- A tailored plan to improve efficiency and governance.
You can explore our bookkeeping services or learn more about our chartered accountants in Sevenoaks.
Meet the team of Precision Accountants to know how others have benefited from our approach by reading our client testimonials.
FAQs: Charity Accounting & Compliance (UK)
What is the best accounting method for nonprofit organisations?
Most non-profits use accrual-based accounting, which records income and expenses when they are earned or incurred rather than when money changes hands. This gives trustees and funders a clearer view of financial health and ensures compliance with SORP and FRS 102 standards.
How much does it cost to hire an accountant in the UK?
Costs vary depending on the size and complexity of your charity. At Precision Accountants Ltd, we offer flexible, cost-effective packages tailored to your organisation—often far less than employing in-house finance staff.
What is the accounting for a non-profit organisation?
Non-profit accounting focuses on transparency and accountability rather than profit. It includes managing restricted and unrestricted funds, recording donations, preparing trustees’ annual reports, and ensuring compliance with Charity Commission guidelines.
Do charities have accountants?
Yes. Most charities work with professional accountants who understand the sector’s specific financial and regulatory requirements. Engaging a specialist charity accountant ensures accuracy, compliance, and credibility with regulators and donors.
What are the four basic financial statements for a non-profit?
Non-profits typically prepare:
- A Statement of Financial Activities (SOFA)
- A Balance Sheet
- A Cash Flow Statement
- Notes to the accounts outlining fund accounting and reserves details
These statements provide a full picture of how funds are raised, managed, and spent.
Do charities need to file accounts with HMRC?
Registered charities must submit annual accounts and reports to the Charity Commission, and in some cases, to HMRC, especially if they claim Gift Aid or have trading income. We ensure your charity meets all relevant submission and compliance deadlines.
Ready to strengthen your charity’s financial future?
Contact our team at Precision Accountants Ltd to discuss how we can help.
We proudly support charities and non-profits in Sevenoaks and the surrounding areas. Discover more about the areas we cover or explore our small business tax advice to see how our expertise extends beyond the charity sector.