1. In respect of every amount required to be shown in the receipts and payments account and in the statement of balances, the corresponding amount for the financial year immediately preceding that to which the receipts and payments account and statement of balances relate.
2. The receipts and payments account shall set out the total receipts and payments for the financial year in sufficient detail as may reasonably enable a proper appreciation of the transactions and the excess of receipts over payments or payments over receipts for that year and shall distinguish between restricted, unrestricted, expendable endowment or permanent endowment funds.
3. The following receipts in particular, if any, shall be shown separately:–
(a)donations;
(b)legacies;
(c)grants;
(d)receipts from fundraising activities;
(e)gross trading receipts;
(f)income from investments other than land and buildings;
(g)rents from land and buildings;
(h)gross receipts from other charitable activities;
(i)proceeds from sale of fixed assets; and
(j)proceeds from sale of investments.
4. The following payments in particular, if any, shall be shown separately:–
(a)expenses for fundraising activities;
(b)gross trading payments;
(c)investment management costs;
(d)payments relating directly to charitable activities, detailing material items;
(e)grants and donations relating directly to charitable activities;
(f)governance costs relating to–
(i)audit or independent examination;
(ii)preparation of annual accounts; and
(iii)legal costs associated with constitutional matters or trustee advice;
(g)purchases of fixed assets; and
(h)purchase of investments.
5. The receipts and payments account shall set out transfers from a restricted, unrestricted, expendable endowment or permanent endowment fund into another fund separately.
6. The statement of balances shall–
(a)distinguish between unrestricted, restricted, expendable endowment or permanent endowment funds;
(b)reconcile the cash and bank balances at the beginning and end of the financial year with the surplus or deficit shown by the receipts and payments account;
(c)summarise the holding of investments and market valuation;
(d)summarise other assets including gifted assets and state the cost or a valuation of the assets if available, and where the charity trustees consider the valuation to be lower than the cost, state the valuation;
(e)state an estimate of the liabilities at the end of the financial year showing separately any contingent liabilities.