{
  "url": "https://openlegislation.uk/charities-accounts-scotland-amendment-regulations-2010/note",
  "json_url": "https://openlegislation.uk/charities-accounts-scotland-amendment-regulations-2010/note.json",
  "legislation": "ssi/2010/287",
  "legislation_title": "The Charities Accounts (Scotland) Amendment Regulations 2010",
  "legislation_url": "https://openlegislation.uk/charities-accounts-scotland-amendment-regulations-2010",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Charities Accounts (Scotland) Regulations 2006 (“the 2006 Regulations”).\nRegulation 3 amends regulation 1 of the 2006 Regulations to simplify the definition of “gross income” in line with current accounting practice. Definitions have also been added for the terms “liability” and “contingent liability”. The definitions of “permanent endowment funds” and “expendable endowment funds” have been amended. Regulation 3 also updates a reference to the Statement of Recommended Practice for Accounting and Reporting by Charities, issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.\nRegulation 4 amends regulation 3(7) of the 2006 Regulations to clarify that a charity is prevented from having more than two financial years exceeding 12 months in any five year period.\nRegulation 5 brings terminology used in the 2006 Regulations into line with current accounting practice.\nRegulation 6 amends regulation 7 of the 2006 Regulations to clarify that where a single set of accounts is produced by connected charities, there is no need to produce individual accounts within that set. Regulations 7 and 8 amend regulations 8 and 9, respectively, of the 2006 Regulations; the threshold for preparation of fully accrued accounts increases from £100,000 to £250,000.\nRegulation 9 amends, in various ways, regulation 10 of the 2006 Regulations. Regulation 10 makes provision about the annual audit of statements of account for charities whose assets exceed a certain asset value threshold. Regulation 9(a) bases the calculation of a charity’s aggregate value of its assets (before deduction of liabilities) on a figure at the end of the charity’s relevant financial year and increases the threshold from £2.8 million to £3.26 million. Regulation 9(b) increases the gross income threshold in regulation 10(1)(d) to £250,000. Regulation 9(c) amends regulation 10 of the 2006 Regulations to clarify that consolidated accounts must be audited by a registered auditor. Regulation 9(d) removes the reference to section 25 of the Companies Act 1989, which is no longer in force. Reference is instead made to section 1212 of the Companies Act 2006, which sets out the eligibility of a person to act as an auditor. Regulation 9(e) corrects a typographical error in the 2006 Regulations.\nRegulation 10 corrects a typographical error in the 2006 Regulations.\nRegulation 11 revokes an exemption from audit requirements that is no longer required because it relates to a provision of the Companies Act 1985 which is no longer in force. There is a saving provision at regulation 1(3) to maintain the exemption for accounts for a financial year beginning before 1st April 2008.\nRegulation 12 updates references to two Statements of Recommended Practice – one in relation to further and higher education and the other in relation to registered social landlords. These Statements of Recommended Practice are available from Universities UK and the National Housing Federation, respectively.\nRegulation 13 corrects a typographical error in the 2006 Regulations.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ssi/2010/287/note",
    "retrieved_at": "2026-10-28T21:54:31.234675+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}