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Post Info TOPIC: Charity P & L
tonys


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Charity P & L
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Hi,

I am new to charity accounts but I have purchase of a new computer server £5000 and wish to capitalise the purchase.  The same as normal will apply- that it is an increase in fixed assets and not charged to the profit and loss?

If it is included in the P & L , my forecast shows a loss at Y/E ,but obviously not if it is correctly placed as capital expenditure.

Surely charity income amd expenditure are the same as company P & L ?

Tony.



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semsley


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Top of head can't remember but take a look at SORP you can download a copy from the Charity Commission website.

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tonys


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Thank you, will do.

Regards,

Tony.

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Quentin Pain


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Last time I checked there was no special case for purchasing capital equipment. I made a summary of SORP 2 years ago and posted it on my company forum. You may find it useful:
http://www.accountz.com/baz/bazforum/viewtopic.php?f=1&t=611&p=2477&hilit=sorp#p2477

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