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FRS102 Consolidated template for England & Wales with or without endowment funds

Price : £60.00 | Product Code : FRS102 (E&W) 16.04 Consolidated

This template should NOT be used for accounting periods commencing AFTER 31st December 2015. The FRS102 (modified in 2016) should be used for such charities.

Video Help

The templates have extensive video files showing how they are installed and how they should be used. These can be viewed before purchase by clicking on the link Video Help

The bundle

This bundle includes templates to prepare Consolidated Group accounts for charities,  in England & Wales, according to the FRS102 SORP 15, in compliance with the Charities Act 2011, and related regulations, for the following categories of charities:-

Large charities (these are charities subject to a statutory charities audit)

With Endowment funds
Without Endowment funds

Preparing the parent charity accounts.

This template is for preparing the consolidated accounts, after the individual accounts of the parent and subsidiaries have been finalised.  To prepare the individual accounts for any group member that is a charity will require the use of the individual templates - see elsewhere on this website.

Methodology

The individual Trial Balances of the parent and up to two subsidiaries are entered to the template. If there are more than two subsidiaries, then two or more Trial Balances should be added together before entering. There is also a journal facility to deal with adjustments on consolidation and elimination of inter group transactions. After entering the data, a consolidated Trial Balance is produced. In all other respects, the accounts are prepared in a similar manner to the templates for individual accounts.

These templates are used to prepare a FRS102 compliant sets of accounts. They work in conjunction with VT Software, and require a good working knowledge of Excel and VT software.

The templates can only be used for accounting periods commencing on or after 1st January 2015. They cannot be adopted for earlier periods. It is likely that the 2015 SORPS will be replaced in 2016, so it is likely that these templates will not be valid for accounting periods beginning on or after 1st January 2016.

Anthony Mills, one user of our SORP 2005 templates, says:-I\\\'d happily tell people how great your software is! … How anyone would ever consider preparing charity accounts without it, is a mystery to me. It would be nigh on impossible, I believe!

The products in this category are for unlimited use for an unlimited number of charities on one computer for one year from the date of purchase. The templates cannot be used after one year, unless a renewal licence fee is paid.

No. of Licences


 
Overview
Steps Process & Help File
How the templates work
Resources and Prices

This template should NOT be used for accounting periods commencing AFTER 31st December 2015. The FRS102 (modified in 2016) should be used for such charities.

This version of the product is for use for an unlimited number of charities of all types to prepare consolidated accounts after the individual accounts for each group member have been prepared. The legislation only requires the preparation of group accounts when the charity or group is \\\'large\\\' as defined in the regulations. This normally means when the group is subject to statutory audit.

The templates are NOT for bookkeeping purposes - they are for final accounts preparation in SORP compliant format. A user comes to the templates with a finalised Trial Balance prepared from a bookkeeping system for each member of the group , and the template turns these TBs into a set of statutory group accounts.

The accounts consist of a Trustees\\\' Annual Report, a Statement of Financial Activities, an Income and Expenditure Account, a Balance Sheet, a Cash Flow Statement (if required) and related notes and schedules. Throughout the templates there are HELP! links to the relevant disclosure requirements of the SORP, and links to a library of publications and reference material on the internet. There is comprehensive guidance on law and practice.

Unlike the SORPAID 2005 templates, there are no separate templates for the different types of charity or types of scrutiny (eg limited companies, unincorporated charities, audit, examination, etc...). The user defines the type of charity and scrutiny within the template being used.

The user prepares the accounts by following a STEPS process which is described on the STEPS tab on these product details.

There is an optional extra template for consolidating a group of charities. Details of these can be found under \\\'Consolidated Charity templates\\\' on the \\\'Products\\\' tab.

Knowledge required and technical support.

Because it is assumed that many users of these templates not only have a good working knowledge of Excel and VT, but also are qualified accountants, then the help and support on the technical aspects of these templates is limited. We are very willing to offer limited telephone support on initial installation, and advice on technical difficulties with the operation of the software itself. In practice, as the templates are Excel based, we have found that very rarely has there been the necessity for any detailed support although on occasion we have referred users to VT for help with aspects specific to VT Software. However, in the past, we have found that because of the specialised nature of charity accounting many users of the templates feel they need the benefit of technical accountancy assistance .

Peter Brown & Co are able to offer an annual retainer for telephone support on technical charity accounting matters for £130 per annum. This will entitle a user to up to four hours technical discussion per annum. On more complex matters specific instructions would be taken. -  See the advice section of the Sorpaid Shop. If any user who did not take advantage of the annual retainer to provide assistance on technical accounting matters, Sorpaid reserve the right to charge a professional fee for the time engaged. Any purchaser of the templates would be advised when it was felt that a fee basis would be appropriate and the fee basis would be discussed and agreed before proceeding.

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