CIC Association

Serving Community Enterprise

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 Company to have a Charity Chart of Accounts? Yes, I know CICs make profit so not ideal, but it has lots of nominal codes that seem applicable. They were given some equipment recently, would this be classified as a gift? `Cos it would be DR asset Cr gift, end of problem. Any help would be greatly appreciated.

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