Part 8 E+W Charity accounts, reports and returns

CHAPTER 1 E+W Individual accounts

133 Account and statement an option for lower-income charities E+W

If a charity's gross income in any financial year does not exceed £250,000, the charity trustees may, in respect of that year, elect to prepare—

(a) a receipts and payments account, and

(b) a statement of assets and liabilities,

instead of a statement of accounts under section 132(1).