Forum Replies Created
Unless your constitution requires it you do not have to have an independent examination (or audit) if your income is below £25,000.
Even then the Independent Examiner does not have to be a qualified accountant unless your income exceeds £250,000. Audits are only required when your income exceeds £500,000.
You just need to find someone who the trustees believe is sufficiently competent to look over the accounting records (to confirm records have been maintained) and to check the accounts (Receipts and Payments) agree to these records. They should follow the Charity Commission guidance for Independent Examiners which is available on the CC website.
I’m not surprised that you’ve found being a CIC is not a good option for a Shed. Doing the accounts can be difficult for those unfamiliar with the legal requirements and paying sopmeone to help can be expensive.
We’ve identified nearly 200 Sheds registered as Charities, so yes there are quite a few. Charities with an income below £5,000 a year do not have to register, so there could well be many more.
A charity does have to have trustees and that’s similar to a company having to have directors.
A charity can however either be an unincorporated association or a Charitable Incorporated Organisation. The choice will depend upon the size of your Shed and the financial risk to the members.
Roughly how much is your income per year? and what are the main costs? (Rent, insurance?)
Calne Men’s Shed have set up an impressive system, the ducting goes through a hole in the wall to the dust extractor housed in a store room next door.
Hi Guys, thanks for the comments and feedback, sorry it’s taken a while for me to notice.
We are lacking a webmaster at the moment, so I’ve stepped in as one of the UKMSA trustees to see what I can do.
The link to the forum was at the top of our website, but in a light shade of mustard yellow which was rather difficult to spot. I’ve changed it to red so hopefully stands out better now. I’ve also updated our copyright dates!
We are a small team and unfortunately lacking somewhat in the IT knowledge and skills required (and time) for managing a website.
I am however very keen to get the forums more active, so any comments, advice or help would be appreciated.