Academies & Not-For-Profit
Freedom with responsibility
The Academies and not-for-profit sector continues to encounter numerous financial challenges. Whether it’s having to comply with additional demands imposed by the newly formed Education Funding Agency (EFA) & the Charity Commission or having to contend with changing regulations, there is also the difficulty of having to generate and maintain funding in a period of economic uncertainty.
At Mitchells, we recognise that Academies and not-for-profit organisations are unique and complex and therefore have a team who can offer specialist advice which eases the burden, allowing our clients to focus on key objectives.
For a full list of the services that we can offer, click on the links below.
Academies
Mitchells existing client base of not-for-profit organisations means that we are perfectly positioned in terms of experience and expertise to work with Academies.
Being part of the UK200’s Academy Forum who throughout the UK currently act for nearly 10% of newly converted Academies, we have the expertise and support to fully assist schools in the process of converting to academy status.
We offer the following services to Academies:-
Statutory
- Preparation of financial statements in accordance with the Statement Of Recommended Practice (SORP)
- Independent audit under arrangements approved by the Secretary of State
- Company Secretarial Duties
- Corporation Tax issues (if applicable)
Training, Advice and Support
- Bookkeeping advice ( i.e. chart of accounts, fund accounting etc)
- Assistance with VAT returns
- VAT training
- Responsible Officer training
- Advice and support on internal controls and financial governance
- Accounting software advice and support
Other Services
- Payroll
- Responsible Officer duties
- Forecasting and budgeting
- Pension scheme audit (form TR17A)
- Cost management services
We also like to keep our clients updated on the latest changes and general updates through regular newsletters. If you would like to join our academies mailing list, please email your details to us. Click here
Not-For-Profit
Our work in the not-for-profit sector covers a wide range of organiations from small local trusts, clubs and societies to larger regional charities.
We pride ourselves on offering much more than the normal accountancy services. Whether managed by Directors or Trustees, all our clients have a common desire to be supported by reliable, commercial and experienced business advisors who can provide the guidance support and management tools needed to help them make critical and strategic business decisions where we can draw on our commercial experience.
With our knowledge of this sector and our ability to quickly grasp the intricacies of how these organisations operate, we are able to turn around audits quickly with minimal disruption.
We currently offer the following services to Charities:-
- Accounts production
- Audits
- Incorporation advice
- Assisting with setting up trading subsidiaries
- VAT
- Status advice
- Guidance on trustee’s responsibilities
- Management accounts
- Assistance in establishing financial systems
- Payroll
- Strategy reviews