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FRS 102 SORP 2015 (2016 modification) NI SMALL Unincorporated- no endowment funds

Price : £60.00 | Product Code : FRS102 16 NI Unincorporated version 17.02 WITHOUT endowment funds

 

The templates normally apply for accounting periods commencing on or after 1st January 2016. However, they can be adopted for earlier periods. commencing on or after January 1st 2015.

Early adoption should be very carefully thought through, however. because this has implications for disclosure requirements. There are also some changes in the modified version relating to the mandatory accounting treatments that should be followed.

The FRSSE  SORP 2015 was withdrawn for accounting periods commencing AFTER 31st December 2015. and the modified FRS102 SORP 2015 MUST be used for such periods.

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

 Application :- FRS102 SORP (in its modified version following the SORP Bulletin in February 2016) for a Single UNINCORPORATED charity  WITHOUT endowment funds, in compliance with the charity legislation in Northern Ireland and related regulations,with gross income of less than £500,000 - (ie defined as 'small' in the SORP).

 This template CANNOT be used for large charities (these are charities with income in excess of £500,000)

They work in conjunction with VT Software, and require a good working knowledge of Excel and VT software.

The products in this category are for single use for one charity 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.

These templates should NOT be used for accounting periods commencing BEFORE 1st January 2015.

 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!

 

No. of Licences


 
Overview
The STEPS Process and HELP file
How the templates work
Prices and resources

The accounting periods for which these templates can be used are described in the descriptive section above.

 Use of this template

 FRS 102 SORP Single UNINCORPORATED charity WITHOUT endowment funds, with income less than £500,000 (defined as small in the modified SORP).

Application :-This single template prepares accounts for a single unincorporated charity without endowment funds, defined as small in the SORP, operating in Northern Ireland. The accounts produced will be in accordance with the FRS102 SORP 15 (as modified in 2016 by the SORP Bulletin issued in February 2016), and in compliance with the legislation in Scotland, and related regulations.

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.

 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.

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, and the template turns this TB into a set of statutory accounts.

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

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