Single VT Templates for Company Charities (periods commencing on or after 01/01/19)

FRS102 SORP 2015 (as modified by SORP edition 2 - October 2019) - Charity Accounts - Sorpaid VT Templates

Template for a Single Company charity - registered under the Companies Acts, or created by Royal Charter or special Act of Parliament

Single charity templates are NOT available in formats for large charities, as defined in the SORP. For such charities, which have income in excess of £500,000, you should purchase one of the bundles. Click to go to bundles

Single Charity templates for the FRS102 SORP (modified by SORP edition 2 October 2019):-

FRS 102 SORP 15 (as modified by SORP edition 2 - October 2019) single charity templates for for company charities that have income less than £500,000 (ie defined as small in the SORPs). Single charity templates are NOT available in 'large' formats, as defined in the SORP. For such charities, which are subject to statutory audit, you should purchase one of the bundles. Click to go to bundles

The bundles which are shown on separate product pages are licensed to prepare an unlimited number of accounts for an unlimited number of charities within the license year.Templates for large charities are NOT available as single templates.

By contrast :-

The single charity templates in this category are licensed ONLY for one charity on ONE computer for one year from the date of purchase., and must NOT be used for additional charities without breaching the licence conditions. This restriction is reflected in the pricing structure for the templates.

Content of the templates

The templates in this category are identical to the bundled templates, except they are restricted in their application to a company  registered under statute or by Royal Charter, and have been tailored accordingly. This means that a number of steps in the STEPs process have been suppressed and do not apply, making the process a little shorter.

The single charity templates are also restricted in that they apply to the particular jurisdiction indicated (ie England & Wales, Scotland or Northern Ireland).

The templates have security routines built into them that may produce unpredictable and unsatisfactory results, if used for more than one charity, outside the terms of the licence.

Application

To use these products, users must have the VT Accounts Production Software add on to Excel installed on their computer. Excel must be Excel 2003 or higher, but not in the 64 bit edition. Any Windows operating system from Windows XP or above will be suitable.

These templates are used to prepare a FRS102 SORP 15 (as modified by SORP 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 Accounts Production software.

The templates normally apply for accounting periods commencing on or after 1st January 2019. However, they can be adopted for earlier periods. commencing on or after January 1st 2016, but we would not recommend early adoption.  To all intents and purposes, in most cases, this new modification will impact on years ending on or after 31st December 2019.

The modified FRS102 SORP 2015 (as modified by Bulletin 1 in 2016) and included as a separate template in Sorpaid's products MUST NOT be used for periods commencing on or after 1st January 2019.

The modified version of the FRS102 charity SORP, applicable from 1st January 2019, changes the mandatory accounting treatments that should be followed. It also requires more detailed analysis of the prior year comparative figures

The templates cannot be used after one year, unless a renewal licence fee is paid.

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

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.

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

Testimonial

An unsolicited testimonial received  :- 

I really do think that the template is brilliant and even essential for proper charity accounts preparation.

The 2020 updates include:-

Full compliance with the SORP 2015 2nd Edition October 2019, including all aspects of both Bulletin 1 and Bulletin 2

Bulletin 1

• New UK wide audit reports to accomodate revised audit reports equired by revised auditing standards for accounting periods commencing after 16th June 2016.
• New England & Wales examination reports to meet the requirements for all examinations signed off after 30th November 2017
• New fund accounting policy to bring into line with up to date practice
• Minor alterations to disclosures to accord with good practice
• Minor textual changes in the notes and TAR

Bulletin 2

• Removing the undue cost or effort exemption for depreciating assets comprising of two or more major   components which have substantially different useful economic lives.
• Clarifying when payments by subsidiaries to their charitable parents that qualify for gift aid are adjusting events occurring after the end of the reporting period.
• Permitting charities that rent investment property to another group entity to measure the investment property either at cost (less depreciation and impairment) or at fair value.
• Removing the undue cost or effort exemption for the investment property component of mixed use property to require measurement at fair value
• Removing the disclosure of stocks recognised as an expense.
• Requiring charities to prepare a reconciliation of net debt as a note to the statement of cash flows.
• Clarifying when payments by subsidiaries to their charitable parents that qualify for gift aid should be accrued    in the individual accounts of the parent charity.

Housekeeping improvements to the templates

• Complete re write of the treatment of comparatives to copmply with the requirements of the Bulletin
• Altered error checking to cope with accounts to the nearest hundred or thousand of £s
• More optional example texts included in notes
• Improved and refined error testing
• Improved and refined autohiding
• Removed minor bugs and gremlins and textual ambiguities that have been reported by users
• Major re-write of the help and support file to reflect recent legislative and clarify points or questions raised  by users  
• Improved on screen instructions to assist with data entry
• Taken on board improvement suggestions from users

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