Knowledge Centre Category: Charity Accounts & Tax

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Statutory Accounts

Statutory accounts are the statutory financial statements a company must prepare at the end of its accounting period and file with Companies House, providing a formal record of its financial position and performance. Green Accountancy aims to have year-end accounts finalised within one month of receiving a complete and accurate set of client records.

Year-End Planning

Year-end planning is the process of reviewing a company's financial position before its accounting period closes in order to make the most of available tax reliefs and allowances. Green Accountancy contacts clients proactively ahead of both their company year-end and the 5 April personal tax year-end to discuss opportunities such as dividend timing and pension contributions.

Unrestricted Funds

Unrestricted funds are income received by a charity or not-for-profit that can be used at the trustees' discretion for any purpose that furthers the organisation's objects. Green Accountancy's charity accounting service ensures that restricted and unrestricted funds are correctly identified, recorded and reported in line with Charity Commission requirements.

Restricted funds

Restricted funds are amounts of income received by a charity or not‑for‑profit that must be used for a specific purpose set by the donor or funder. These restrictions are legally binding, meaning the funds cannot be spent on other activities, even if those activities further the organisation’s wider aims. Clear identification and tracking of restricted funds is essential to ensure compliance and transparency.