Charity accounts are the financial records of a charitable organization, highlighting both receipts like donations and expenditures like grants. They must comply with specific regulations depending on legal structure and size, including directives set by the Charities Act 2011 and Statements of Recommended Practice (SORPs) issued by the Charity Commission.
An organization that provides goods or services with a policy that no individual or group will share in any profits; where a surplus is generated, this must be used to further the goals of the organization. Examples are charities, political organizations, housing associations, and educational institutions.
