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Louise poor
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Louise poor's Discussions

Are gifts taxed as income?

Sorry, me again. If a CIC is given musical instruments for the children to practice on is this considered income and taxed at 20% ? I noticed in Sage that Gifts fall in the nominal range for…Continue

Started Nov 1, 2016

Setting up a CIC on Sage 50 accounts

I am trying to produce annual accounts for a friends` Community Interest Company. Don`t panic guys, I do have some qualifications although little actual experience. so question one, do I set up the…Continue

Started Nov 1, 2016

Should I use my own capital to set up a website?
1 Reply

Hello fellow CIC people. I have been helping to run a CIC based in North Cornwall for a few years and have now been bitten by the bug myself. While waiting for my incorporation to be completed I have…Continue

Started this discussion. Last reply by John Mulkerrin Oct 14, 2016.

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Latest Activity

Louise poor replied to Louise poor's discussion expenses, what goes where? in the group Accounts Group
"Hi Andy, I think you are probably right. It just shows though when you do accounts for a CIC what a strange sort of hybrid animal it is, a strange cross between a charity and money making venture. In accounting terms a bit of a monster! I will keep…"
Feb 21
Andrew Fleet replied to Louise poor's discussion expenses, what goes where? in the group Accounts Group
"Hi Louise, Based on what the CIC does, I am thinking direct costs/cost of sales.  However, make sure there are no capital expenses in there which would need to go to the balance sheet and be depreciated. Hope that helps? Andy"
Feb 21
Louise poor added a discussion to the group Accounts Group

expenses, what goes where?

Hi, I run an arts and crafts CIC in Cornwall and also help a couple of theatre based CIC`s with their accounts on a voluntary basis. I am AAT Level 4 and a qualified bookkeeper.I have drawn up accounts, profit and loss and balance sheets for myself and for a theatre company that works with disabled children.I have gone on the HMRC gateway to file my returns but cannot figure out where to put things like workshops, costumes, venue hire,sound and lighting etc..I have found general administrative…See More
Feb 19

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Time To Shine CIC
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