Accountancy for Charity and Not-For-Profit
At Bevan Buckland LLP, we offer tailored accounting services to charities and not-for-profit organisations in South Wales and beyond. With over 50 years of experience supporting charities, we have developed a comprehensive range of services to support these organisations.
Whether you are a small community charity with a turnover of less than £10,000 or a national organisation operating across Wales with a turnover of over £ 50 million, we have the expertise to support you at every stage of your journey. Our mission is to assist charities in forming, growing, and flourishing.
Our experience in the charity and not-for-profit sector
We are proud of our long-standing commitment to the charity and not-for-profit sector at Bevan Buckland LLP. Since 1975, we have supported these organisations with our comprehensive and specialised accounting services.
We have extensive experience working with social enterprises of various legal forms. This allows us to provide informed advice on the benefits and challenges associated with different structures, helping you navigate any issues that may arise and ensuring that your organisation remains compliant and effective.
Our Team and Services
We currently act for over 150 not-for-profit organisations, leveraging the extensive qualifications and experience of our dedicated NFP team. Our professionals are adept at offering detailed technical advice, ensuring that our clients receive the highest standard of service tailored to their unique needs.
Our charity clients range from organisations with incomes of £20,000 to £50,000,000, demonstrating our ability to support entities of all sizes. Whether you are a small community group or a large national charity, our expertise is at your service.
Our team includes:
–Three Partners: Providing strategic oversight and personalised client engagement.
–One Director (RI): Specialising in auditing charities, charitable groups, trading subsidiaries, and other not-for-profit entities.
–One Consultant: Offering specialised insights and guidance within the sector.
These leaders are supported by a robust team of qualified accountants, auditors, and additional audit staff, ensuring we deliver comprehensive and practical solutions.
Our team specialises in:
- Trading subsidiaries
- Tax advice on group structures
- EMI schemes
- Capital allowances
- Restructuring
- Acquisitions & disposals
Accounting Services for the Not-for-Profit Sector
Independent audits and reviews to ensure financial transparency and compliance with regulatory standards.
Navigating complex tax regulations specific to the charity sector, including Gift Aid claims and VAT exemptions.
Preparation of annual accounts in accordance with the Charities Statement of Recommended Practice (SORP)
Assistance with grant applications, monitoring, and reporting to ensure funds are used effectively.
Creating and managing budgets to align with your mission and financial goals.
Guidance on governance best practices, including trustee responsibilities and risk management.
Our approach to Charity Accounting
Our commitment to best practices in charity accounting is unwavering. We provide highly detailed and technical advice and support, ensuring that your organisation’s financial practices are compliant and exemplary. Based in our Swansea office, our technical team is at the forefront of making all key technical decisions, ensuring that our guidance is current and practical.
At Bevan Buckland LLP, we pride ourselves on providing a comprehensive range of services designed to support charities and not-for-profit organisations that go beyond providing audit and accounts support. Our dedicated not-for-profit team ensures that your additional service needs are met with professionalism and independence. By deploying separate teams for various services, we maintain objectivity while providing exceptional technical support to our clients.
Bespoke Accountancy Solutions for Charity or Not-for-Profit organisations
Provided in-depth tax and VAT consultations and completed annual tax trust returns.
Conducted detailed tax planning to evaluate the appropriateness of group structures and recharges.
Collaborated with corporate finance partners to identify potential business acquisitions.
Developed and implemented strategies for tax-efficient cash extraction from businesses.
Added-Value Services for Charity & Not-For-Profit
Board/Staff Training
We provide a range of training courses designed for board members, management teams, and trustees to improve their skills and knowledge. Additionally, we host a quarterly charity webinar that addresses issues impacting those working within the sector. The topics covered include cybersecurity, fraud, and risk management.
Should there be a specific area where you are keen to develop your expertise, please do not hesitate to contact us. We will arrange a tailored training session to accommodate your requirements effectively.
VAT Assistance
With significant experience in VAT and partial exemption, we work closely with Centurion VAT to resolve complex VAT issues effectively.
Digital Accounting
We provide a comprehensive digital accounting service that integrates seamlessly with online packages, allowing you to monitor your business performance in real-time.
IT Services
Our highly experienced IT Manager offers expert advice and assistance on numerous software packages to streamline your operations.
Advertising Trustee Positions
We assist our clients in the sector to promote the trustee positions they need to fill.
Challenges the Charity and Not-for-Profit sector faces
The UK charity sector faces many challenges threatening its ability to provide essential services to those in need in the coming year. These challenges can be broadly categorised into financial, operational, technological and social elements.
Financial Challenges
-Cut to government budgets: This could result in a cut to government grant funding or no inflationary increases to funding being provided.
-Declining income: The rising cost of living has squeezed household budgets, resulting in decreased charitable donations.
-Increasing costs: Charities face rising operational costs due to inflation, minimum wage increases, service demand, and regulatory compliance.
Operational Challenges
-Volunteer shortages: Volunteer recruitment and retention have become increasingly difficult for charities partly due to demographic shifts, as the traditional pool of older volunteers is shrinking.
-Digital transformation: Charities are under pressure to adapt to the evolving digital landscape to remain competitive and engage with younger donors.
-Measuring impact: Charities are increasingly being called upon to demonstrate the impact of their work to justify funding and attract donors.
Technological Challenges
-Remote working: We are seeing organisations downsize premises and move to hybrid working positions. Charities must ensure they have systems compatible with this working practice without a detrimental effect on the services provided.
-IT security: With changes to systems and working practices, security needs to be emphasised to ensure the charity and its data are safeguarded in accordance with GDPR.
-Threat of AI: AI continues to become more realistic, and the charity needs safeguards/procedures to ensure it does not become a victim of fake publications or fraud.
Social Challenges
-Increased demand for services: The cost-of-living crisis and rising mental health issues have led to a surge in demand for charity services.
-Complex Social Issues: Charities often address complex social issues such as poverty, homelessness, and domestic violence.
-Changing Public Expectations: The public’s expectations of charities are evolving, demanding greater transparency, accountability, and diversity. Charities must adapt to these evolving expectations to maintain public trust and support.
