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FRS 102 SORP 2015 (SORP 2019 modification) SCOTLAND- Single Unincorporated WITHOUT endowment funds

Price : £60.00 | Product Code : FRS102 SCOT Unincorporated version 20.01 -WITHOUT Endowment funds 17/01

COMPLYING WITH THE LAW IN SCOTLAND- Template for an UNINCORPORATED charity WITHOUT endowment funds

The templates normally apply for accounting periods commencing on or after 1st January 2019.

Templates for periods before this are available on the Sorpaid shop, under Bulletin 1 products.

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 Edition 2 in October 2019) for a Single Unincorporated charity WITHOUT endowment funds, in compliance with the charity legislation in Scotland, and related regulations,with gross income of less than £500,000 - (ie defined as small in the SORP).

The modified version of the FRS102 charity SORP, applicable from 1st January 2016, changes the definition of small charities. In the unmodified version that applied before this date, smaller charities were defined as those not subject to statutory audit. In the modified version, small charities are now defined as those with gross income below £500,000. This means that a charity in England & Wales with income between £500,000 and £1m would be small under the unmodified version and large under the modifed version.  There are also some changes in the modified version relating to the mandatory accounting treatments that should be followed.

This template CANNOT be used for large charities (these are charities with income in excess of £500,000). For such charities, an unlimited bundle licence should be purchased - To view bundles - Click here

Other information

These templates are used to prepare a FRS102 SORP 15 Edition 2 - October 2019 compliant set of accounts. They work in conjunction with VT Software, and require a good working knowledge of Excel and VT software.

One user of our SORP 2005 templates, said:-I would 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

Large charities  CANNOT use this single licence template -  (these are charities with gross income in excess of £500,000)

Small charities are charities with gross income below £500,000

 Licensing

The products in this category are for  use for ONLY ONE SPECIFIC charity on one computer for one year from the date of purchase. Use for pereparing accounts of more than one charity would be a breach of the licence.  The templates cannot be used after one year, unless a renewal licence fee is paid.

If a purchaser has an existing licence for the Unincorporated template , the modified FRS102 SORP 2015 (as modified by Bulletin 1 in 2016), then when purchasing this new template, the old licence for the former templates will automatically be extended, free of charge, until the anniversary of the purchase of the new template.

 For new purchasers who do not have an existing licence for the modified FRS102 SORP 2015 (as modified by Bulletin 1 in 2016) and who may wish to use the former templates in the transition period, we will supply a discount code enabling you to purchase the former templates for a nominal £10.

If you want to use the templates on more than one computer, then significant discounts are available for additional licences, and you should contact Sorpaid for details.

 Legal format of charities

This single licence template can only be used for charities that are registered as Unincorporated charities under charity legislation. They CANNOT be used  for  company charities, CIOs or Registered Societies.

No. of Licences


 
Product Overview
The STEPS process & HELP file
How the templates work
Resources and prices

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

Template for an unincorporated charity WITHOUT endowment funds operating in Scotland

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).

This template CANNOT be used for large charities (these are charities with income in excess of £500,000). For such charities, an unlimited bundle licence should be purchased - To view bundles - Click here

 Application :-This single template prepares accounts for a single unincorporated charity WITHOUT endowment funds, defined as small in the SORP, operating in Scotland. The accounts produced will be in accordance with the FRS102 SORP 15 (as modified by SORP edition 2 - October 2019), 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.

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

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.

IXBRL – We are often asked how to prepare IXBRL accounts to submit to HMRC. The answer is that you do not need to. All charities with gross income of less than £6.5 million are exempt from IXBRL requirements and can file pdf accounts with HMRC,  provided the attached computations are in IXBRL, and must file SORP compliant accounts on paper with Companies House.

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 charity accounting technical aspects of these templates is limited. We are very willing to offer detailed 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 of this nature, 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 charity 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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