Year-end is when volunteer treasurers earn their gratitude or their headaches. A structured close-down produces accounts the committee can trust and regulators can accept.
Four to six weeks before year end
- Confirm the year-end date with trustees.
- Chase outstanding invoices and expense claims.
- Count petty cash and floats.
- Remind event leads to bank cash promptly.
- Schedule an independent examiner if required.
Final reconciliations
Reconcile every bank account to your books through the last day of the year. Investigate unreconciled items. Do not carry mystery differences into the new year.
Small clubs often use cash accounting, but note money owed to you (grants receivable) or bills for goods received before year end. Disclose significant items in notes even if formal accruals are simple.
Count bar stock, shop inventory, and unsold raffle prizes. Adjust cost of sales if your reports need it. Even a rough stocktake beats ignoring inventory.
Small clubs often expense kit when bought. Larger purchases may belong on a fixed-asset list with a simple depreciation note. Be consistent year to year.
Gift Aid at year end
Match donation income to declarations. Prepare or schedule your Gift Aid claim. Include the Gift Aid Small Donations Scheme (GASDS) — small cash gifts without named declarations — if it applies. Store records per the six-year rule.
Restricted funds and draft accounts
Separate appeal money, equipment funds, and general reserves in your report. Trustees need to see what is spendable freely.
Produce an income and expenditure summary, a balance sheet or receipts-and-payments account as appropriate, and brief notes on policies. Circulate before the AGM with time for questions.
Even a simple income and spending budget helps committees decide fees and fundraising targets. Compare budget to actual each quarter next year.
AGM and filing
Explain variances in plain English. Highlight Gift Aid received, major projects, and reserves policy. Obtain approval minuted by the committee.
Publish a summary before the AGM: income sources, major spends, reserves, and Gift Aid received. Transparency reduces rumours and attracts future volunteers.
File the Charity Commission annual return if registered. CASCs follow HMRC reporting rules. Meet deadlines to avoid nagging emails and worse.
Thirty-day timeline
- Day minus thirty: chase bills and grants.
- Day minus fourteen: stop casual spending where possible; count floats.
- Day zero: year end; final reconciliations start.
- Day plus fourteen: draft accounts to trustees.
- Day plus thirty: examiner engaged if needed.
- Day plus sixty: AGM.
Work backwards from the AGM date. Put this on a shared calendar with the chair and secretary.
Handover and the new year
If you are leaving, start the handover checklist now. Export reports and document passwords securely.
Post opening balances, reset budgets if you use them, and calendar next year's compliance dates. First-year treasurers should read the first-year guide.
Use the Gift Aid gap calculator for next year's Gift Aid targets once the year is closed.
Rules and thresholds change. Check current HMRC and Charity Commission guidance. This is general information, not tax or legal advice. Questions: support@vasker.co.uk.
Next steps
Work through this list for your year end, then browse all guides.