Category Archives: Charities

PM+M Fundraising for Bury Hospice

 

A team at PM+M’s Bury office has entered the Bury Hospice Corporate Challenge.  There are various fundraising plans afoot which will take place between now and the end of October, when the challenge finishes.  The team at our Bury office have been given £50 to start their fundraising and are determined to turn this into as much money as possible in aid of the Hospice.

The first fundraiser is taking place over the course of Thursday 29th June with a cake sale around the businesses based at Waterfold Business Park, where our Bury office is situated.  The enthusiasm from the local businesses has been great and we just hope we have enough cakes to put a smile on everyone’s face and to raise as much as we can before the first league table for the challenge is published at the end of June. Mary Berry, watch your back!

There is also a ‘Guess the number of sweets in the jar’ and clients, contacts and visitors to our office can take part.  The number is a safely guarded secret!

We’re having fun working as a team on this challenge and the reward will most definitely be the funds raised for such a worthy cause, close to our Bury office.

If you have any items that would be worth donating to a car boot sale, please contact Helen Clayton on 0161 641 8684 or email helen.clayton@pmm.co.uk.

Watch this space for news of future events – we hope you will be able to support us along the way.

Charities Update


As Annual General Meetings (AGM) approach for many of PM+M’s Not-For-Profit clients, trustees are busy working on the trustees’ report which is incorporated into the financial statements.

The financial statements focus on the charity’s financial performance and position but in isolation this does not give the reader a rounded overview of what the charity has achieved and the resources they’ve used.

The trustees’ report is an opportunity to publicise significant activities, the achievements of the charity and the impact they have made on delivering their services to their users.  All registered charities must prepare a trustees’ report and make it available on request.  Registered charities with a gross income exceeding £25,000 in a financial year must file their accounts and annual report with the Charity Commission.

It’s important to understand that the charity generally has three viewers:

  • Current and potential funders
  • Beneficiaries of their services
  • Wider public

Charities are publicly accountable, so the information provided should show a fair, balanced and transparent review of the charity.

The Charities SORP (FRS 102) sets out seven main section headings for the trustees’ report:

  • Reference and administrative details
  • Structure, governance and management
  • Objectives and activities
  • Achievements and performance
  • Financial review
  • Plans for future periods
  • Funds held as custodian trustee on behalf of others

Finally, a statement of trustees’ responsibilities must be included and signed by at least one trustee.

A charitable company must also incorporate a strategic report if they are not classed as a small company.

On a recent monitoring review carried out by the Charity Commission, 54% of the sample did not meet the public benefit reporting requirement as it did not include a public benefit statement nor did it explain who benefitted from the charity’s activities.

The public benefit reporting requirement must include both an explanation of activities undertaken by the charity to further its purposes for the public benefit and a statement by the trustees as to whether they have had due regard to the Commission’s guidance on public benefit.

Other common areas which are required but are overlooked include:

Reserves policy

The policy should cover the reasons why the charity needs reserves, the levels of reserves the trustees believe they need, steps taken to ensure the required levels are maintained and the process in place to monitor and review the policy.

Key management personnel

Trustees need to set out who they delegate day to day management to and whom they consider to be the key management personnel of the charity.

If you would like any further information please speak to Helen Binns (helen.binns@pmm.co.uk), head of the PM+M Not for Profit sector, who will be more than happy to help.