Charity Audits – West London

Charity Audits – West London

It’s a tough time for charities, not-for-profits (NFPs) and the third sector.

But we’ve enabled our charity audit clients and NFPs to reduce their audit costs – and increase savings and cash flow.

We have auditors with specialisms in:

  • Charity audits.
  • NFP audits
  • Grant audits
  • Charity Independent Examinations.
  • Charity VAT
  • Audits for the education sector (schools, colleges and universities).

We take a risk-based approach to reduce “misstatements” and design audit tests to ensure your audit report is factually accurate.

We are regulated by ICAEW. Our audits are fully compliant with the following:

Our staff have audited national charities as well as some Oxford colleges.

Benefits of Our Charity and NFP Audits

We ensure you:

  • Are compliant with all legislation.
  • Better understand your commercial risks.
  • Make the best use of tax savings.
  • Optimise your VAT.
  • Operate efficiently.
  • Increase control.

Benefits of Our Services

  • We are a full-service firm based in West London – significantly less expensive than a typical firm based in Central London.
  • We can audit partially remotely.
  • We minimise the time required for the audit as we have significant experience auditing a wide range of systems, such as:
    • Microsoft Dynamics.
    • Sage Line 50 and 200.
  • We’re a mid-sized firm (70 staff) with the resources to meet your charity audit requirements – and we’re small enough to care.

Charity Audit Case Studies

Case Studies Client 1

  • The charitable company had a problem with funds accounting and control over restricted funds.
  • We trained their finance team to control their charitable funds.
  • The charitable company is now able to report charitable funds and to ensure restricted funds are not overspent.

Case Studies Client 2: Charity Shop

  • The company was set up to raise funds for its parent company, a charity called CAPE. It was not maximising the tax advantages available.
  • We advised their CEO to set up the retail gift aid scheme – to reclaim gift aid tax on the sale of donated goods.
  • We then advised the client to register for VAT – so that they could reclaim VAT on their costs – without increasing the sale price of donated goods.
  • These resulted in additional income and cost savings – gift aid donations to the parent charity increased.

Case Studies Client 3 Arts Charity

  • This charitable company was not fully compliant with the Charities SORP. They needed help transitioning from the Charities SORP (FRSSE 2015) to Charities SORP (FRS 102).
  • They also staged live theatrical productions but had not considered the availability of theatre tax relief incentives to improve cash flow.
  • We advised their Finance team on the requirements of the Charities SORP to ensure compliance. 
  • We discussed with the finance committee the incentives available under theatre tax relief.
  • The statutory financial statements now comply with the Charities SORP.
  • The Trustees are reviewing their theatrical productions in light of the advice received under the theatre tax relief.

Case Studies Client 4 Arts charity

  • The charitable company had staged loss-making theatrical productions but required advice on whether these could be tax relieved. The charity was not complying with the legislation.
  • We advised the charity on theatre tax relief. We then filed claims for theatre tax with HMRC.
  • The charity received a payable tax credit of £19,000.

Next Step

Contact us today to improve your charity or NFP audit. You’ll be pleased you did.