Annual Return

The Annual Return is prepared on a Receipts and Payments basis.

  • 1. Brought Forward

  • 2. Precept

    The balance of the PRECEPT account at the end of the year.

  • 3. Other Receipts

    Is the sum of all Receipts minus Precept

  • 4. Staff Costs

    the balance of the STAFF COSTS account at the end of the year.

  • 5. Loan Repayments

    the balance of the LOAN REPAYMENTS account at the end of the year

  • 6. Other Payments

    Is the sum of all Payments minus totals from 4 and 5

  • 7. Carried Forward

The TRANSFERS account should be used to transfer money between accounts. A Payment from one account should be matched by a Receipt into another, both should use the TRANSFERS Account for their Analysis. If transfers are done in this manner, they will not be included in 3. Other Receipts, or 6. Other Payments.

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