Help! I need to prepare accounts for a CIC

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Danielle Fortier

Free Member
Sep 27, 2019
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  • #1
    Hi everyone

    I'm one of the directors of of a small CIC. We're all volunteers and the CIC itself is tiny. We're entirely grant funded. Our fundraising volunteer is doing a grant application for the national lottery and needs our accounts to attach. I'm nominally the treasurer, but to be honest, I'm completely at sea with this. We've not been going long enough to have needed them before, but the grant application needs to be in for Monday before the application system goes online.

    Help!
     
    Scalloway

    Scalloway

    Free Member
    Jun 6, 2010
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  • #2
    The first thing you need to do is create a cash book from the bank statements. List all the CIC's income and expenditure for the financial year and catergorise it as seems appropriate. Income less expenditure must equal the balance at the bank.

    This is a sample set of CIC accounts

    http://www.bridgecollective.org.uk/download/accounts_07-08.pdf

    As the accounts have not been approved and submitted each page should be headed "DRAFT".
     
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