# Charities Act 2011, Section 133: Account and statement an option for lower-income charities


If a charity's gross income in any financial year does not exceed £500,000 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).

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Source: https://www.legislation.gov.uk/ukpga/2011/25/section/133 (the official version)
Page: https://openlegislation.uk/charities-act-2011/section-133
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.