Guidance on the Preparation of Annual Accounts for a Community and Voluntary organisation

One of the major impacts for community and voluntary organisations in the Charities Acts 2009 is the obligation to file annual report and accounts. If the gross income or expenditure of an organisation exceeds €100,000 in a financial year, the Trustees/Directors (for the purpose of this document, these terms are used interchangeably) must prepare Statement of Accounts in respect of that financial year in the format set out in the Regulations. If gross income or expenditure falls below €100,000, the Trustees may complete an Income and Expenditure Account and a Statement of Assets and Liabilities (Balance Sheet) instead of the Annual Statement of Accounts.