The Statement of Recommended Practice (SORP) is the framework that guides how UK charities prepare their annual accounts and trustees’ reports. It translates UK accounting standards into practical rules tailored specifically for the charity sector, ensuring that financial reporting is transparent, consistent, and meaningful to donors, regulators, and the public.

SORP sets out:

• How to structure the trustees’ annual report, including objectives, activities, achievements, governance, and public benefit.
• How to prepare the Statement of Financial Activities (SoFA), which shows all income, expenditure, gains, and losses in one place.
• How to present the balance sheet, including the classification of assets, liabilities, and funds.
• Rules for recognising and measuring income, such as donations, grants, legacies, and trading.
• Fund accounting requirements, distinguishing unrestricted, restricted, and endowment funds.
• Disclosure expectations, covering related parties, remuneration, reserves, risks, and key policies.

SORP is issued by the UK’s charity regulators and is aligned with FRS 102 (or FRS 105 for micro entities). Most charities preparing accruals accounts must follow it, making it central to good governance and regulatory compliance.

Come and join us as we welcome our trainer, Sophie Ede, who will be offering guidance and advice on SORP.

The price is £10.00 per delegate (non-refundable, but names can be changed).

We look forward to seeing you then.

To register your place CLICK HERE