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The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015

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Form and contents of statement of accounts: general charities

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8.—(1) This regulation applies to a statement of accounts prepared by the charity trustees of a general charity in accordance with section 64(1).

(2) The statement of accounts must consist of—

(a)a statement of financial activities showing the total incoming resources and expenditure of resources of the charity during the relevant financial year;

(b)a balance sheet showing the state of affairs of the charity as at the end of the relevant financial year;

(c)a statement of cash flows, if appropriate; and

(d)notes to the accounts in accordance with paragraph (7).

(3) The statement of accounts must be prepared in accordance with the following principles—

(a)the statement of financial activities must give a true and fair view of the total incoming resources and expenditure of resources of the charity in the relevant financial year;

(b)the balance sheet must give a true and fair view of the state of affairs of the charity at the end of the relevant financial year;

(c)where compliance with paragraphs (4) to (6) would not be sufficient to give a true and fair view as required under sub-paragraph (a) or (b), the additional information necessary to give a true and fair view must be given in the statement of accounts or in notes to the accounts;

(d)if in special circumstances compliance with any of the requirements of paragraphs (4) to (7) would be inconsistent with giving a true and fair view, the charity trustees must depart from the relevant requirement to the extent necessary to give a true and fair view.

(4) The statement of accounts must be prepared in accordance with the methods and principles set out in FRS 102 and the SORP.

(5) Subject to paragraph (6), the statement of accounts must, in relation to any amount required to be shown in the statement of financial activities or in the balance sheet for the relevant financial year, show the corresponding amount for the financial year immediately preceding the relevant financial year.

(6) Where a charity has more than one fund, disclosure is subject to paragraph (4).

(7) The notes to the accounts must—

(a)state the measurement basis (or bases) used in preparing the accounts and the accounting policies adopted by the charity trustees for the preparation of the statement of accounts;

(b)disclose any information required to be disclosed by FRS 102 or the SORP, to the extent not already disclosed in the other documents comprising the statement of accounts;

(c)state whether the statement of accounts has been prepared in accordance with FRS 102 and the SORP and give particulars of any material departure from those standards and statement of recommended practice together with the reason for any such departure; and

(d)include any additional information which may reasonably assist the user to understand the statement of accounts.

(8) The balance sheet must—

(a)be signed by at least one of the charity trustees of the charity, each of whom has been authorised to do so; and

(b)specify the date on which the statement of accounts of which the balance sheet forms part was approved by the charity trustees.

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