C1Part 8Charity accounts, reports and returns

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CHAPTER 1Individual accounts

133Account and statement an option for lower-income charities

If a charity's gross income in any financial year does not exceed £250,000, the charity trustees may, in respect of that year, elect to prepare—

a

a receipts and payments account, and

b

a statement of assets and liabilities,

instead of a statement of accounts under section 132(1).