Special Sectors

Charities

Whilst working with many businesses in the Third Sector, we have been exposed to many charities.

The legal obligations can be burdensome not least for the separate Charities Commission reporting and the operating rules each day of the year.

We have produced a guideline checklist to assist any business who is considering applying for charitable status or indeed an existing charity which may need to look at its’ own practises to confirm compliance with the Charity Commission guidelines.

We are conscious of the constraints brought upon some charities who by law must conform to SORP 2005 and indeed those who don’t legally have to, but want to in order that they satisfy their ‘best practise’ ethos.

We can help you prepare your accounts for independent audit in order that you can argue lower costs if presented in a way that requires less work by the auditors.

We liase with HMRC in matters concerning VAT and the complexities surrounding the treatment of income and expenditure and their associated VAT elements.

Social Enterprises

We have had the privilege of working with Nottinghamshire County Council since 2003 with many Social Enterprises in Nottinghamshire.

Regardless of how praiseworthy the social aims are - you need to still be in business next year, and for many years after to be able to deliver those social aims.

We have been privileged to work with many successful Social Enterprises along with Councils (County and District), loan providers (charity and High Street banks), grant providers and many specialists in the field as well as networking with all facets of this sector from the 'do-ers' to the politicians.

Many high street banks do not understand this sector, nor indeed do some accountants, but we at Wyatt and Co do. We understand that in many cases a cocktail of grants and loans will be the only way to kick-start a social enterprise.

However, as with any business requesting funding from whichever source, the business needs a good business plan robust in its’ assumptions supported by a strong and balanced management team. It needs Forecasts with sensitivity analysis to show the team what would happen to the business if it performed worse, or better than the main forecast in order to be able to deal with whatever variances came their way.

We have spent the last ten years providing such Forecasts.

We use the latest Sage forecasting software to help you produce your financial plans - because this is your plan, not ours - we merely formalise your predictions and help you understand the effects of any changes.

We show you how to account for various income streams - project by project - restricted or unrestricted.

Training

We have undertaken training in forms to suit many needs – from one to one training, small groups or up to 30 in a room of mixed abilities.

We specialise in training in the following areas: