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GuidesBlogAboutContact Start the checkHome / Who we help / Accountants for grant-funded organisations
Accountants for grant-funded organisations who get your funder report out on time
Accountants for grant-funded organisations are usually hired for one job: showing a funder exactly where its money went, on the day it asks.
Most directors reach us with a report due Friday and a bank account where three funding pots have run together. We code the pots apart as transactions come in, so the report comes out of the system. Tax investigation cover is included free for every client, and every HMRC investigation we have handled, we have won.
In one lineSupreme Consultants is an AAT registered accountancy practice in Cardiff Bay that looks after grant-funded community interest companies and social enterprises across South Wales. It handles fund bookkeeping, CIC accounts, community interest reports, VAT and payroll on a fixed fee agreed before work starts, with tax investigation cover included.
Check we’re the right fit
A few questions about your business. Mudassir replies the same working day.
Thank you Mud, your help and support with my VAT return is greatly appreciated. Always a prompt response and my difficult VAT return was quickly submitted and resolved. Would definitely recommend.
5.0 on Google from 14 reviewsReply the same working dayFee fixed before we startEnglish, Urdu, Hindi and Farsi spokenIs your grant reporting in good hands? Three questions.
Answer with the buttons, no email needed.
Question 1 of 3
Does your accountant reply the same working day?
Can you produce a spend report for one funding pot without rebuilding your records?
If HMRC wrote tomorrow, would your accountant deal with it at no extra cost?
Three noes means the next funder deadline will cost you a weekend again. Run the check and we will tell you what we would change first.
Start the checkYou are in a reasonable position on the basics. The one you answered no to is worth a conversation before your next claim goes in.
Start the checkYou are well served and there is nothing urgent here. The guides are the useful read if you want to compare how your reporting is set up.
Read the guidesWhat you get
Tax investigation cover at no extra cost
It is included free for every client we act for. Every HMRC investigation we have handled, we have won.
Spend reports your funder can read
Each grant has its own codes from the first transaction, so a report for one pot takes hours instead of a weekend.
A fixed fee agreed before we start
Calls, meetings and emails are never charged for, so you can ring us the week a funding offer lands.
What directors tell us when they first call
Three things we hear most often from grant-funded boards in Cardiff and Newport.
“Our funder wants a spend report by Friday and I cannot tell which pot paid for what.”
The director recoded a year of bank entries over a weekend, and the claim still went in late.
“I emailed our accountant about the community interest report a month ago and I am still waiting.”
The report went in thin, and the directors answered the follow-up questions themselves.
“We won a grant, spent it on the project, and now there is a corporation tax bill nobody explained.”
Funding had been recorded as income in one year with the matching costs landing in the next.
What changes once we take it on
We set the bookkeeping up so every funding pot carries its own code from day one. Your spend report is then printed, not reconstructed. Accounts, the community interest report, VAT and payroll deadlines all go in the diary for the year ahead.
How a general accountant and we handle funded income
Plenty of good accountants rarely see a grant, and it shows at reporting time.
An accountant with no funded clients
All income lands in one sales code.
Spend reports built from scratch each time.
The community interest report filled in by you.
Billed for the call about a new grant.
With Supreme Consultants
Each funding pot coded as it comes in.
Spend reports run off the system on request.
Community interest report drafted with your directors.
Same working day reply, calls never billed.
Eight questions about how your funding is recorded
A no on any of these is worth half an hour of our time.
Does each grant have its own code in the bookkeeping?
Without it, every report means going back through the bank.
Can you show restricted spend separately from trading income?
Funders ask for this and Companies House accounts should reflect it.
Do you know when your community interest report is due?
It goes in with your accounts and directors are responsible for it.
Is anyone checking whether grant income is taxable?
Getting this wrong produces a corporation tax bill nobody budgeted for.
Are staff paid from funded posts shown against the right pot?
Payroll allocation is the first thing a monitoring officer checks.
Does your accountant reply the same working day?
A week’s delay on a claim question can cost you the claim.
Is your fee fixed for the year?
You should know the cost before work starts, including the calls.
Would HMRC correspondence be handled without an extra invoice?
Our investigation cover is included free for every client.
What we do for your grant funding
The compliance a funded community interest company needs, in one place.
All Who we help- Fund bookkeeping
- Every pot coded as transactions arrive, so spend reports and claims come out of the system.
- Annual CIC accounts
- Prepared and filed with Companies House, showing restricted and unrestricted activity clearly.
- Community interest report
- Drafted with your directors so it describes the social outcomes your funders paid for.
- Corporation tax on funded income
- Computed alongside your accounts, with grant income treated correctly against the costs it paid for.
- Payroll and VAT
- Funded posts paid on time and VAT returns filed, with staff costs allocated to the right project.
Two things we have found by looking properly
The first is our own community interest company, which files the same returns our clients file. The second is a Cardiff shop owner who had been overpaying for two years.
Clients described by type. Names withheld.
- How it was found
- We keep its fund records, annual CIC accounts and community interest report ourselves, to the same deadlines our clients work to.
- What happened
- Grant-funded clients get reporting designed by people who file it for their own organisation.
- How it was found
- He was still paying full rates through Covid because Cardiff Council required an application and nobody had mentioned it.
- What happened
- We spotted it in the first meeting and the money came back to him.
Reviews from clients
Thank you Mud, your help and support with my VAT return is greatly appreciated. Always a prompt response and my difficult VAT return was quickly submitted and resolved. Would definitely recommend.
I just want to say a big thank you to Mudassir for all the advice, guidance and help he has provided whilst dealing with my accounts and tax returns. From start to finish the service has been excellent and professional. Unlike other accountancy firms they provide a friendly personalised service, I was very clear on the process and was even provided with additional guidance where needed. Highly recommended!
Friendly, nice 👌 , helpful and great all around
Difficult to describe as there are too many words that can be expressed for a wonderful accountant and their firm.
Definitely 🔝 and highly recommended in Wales 🏴 and throughout the UK for Accountancy and Tax Services
Shaz Khan
How switching to us works
Most of it happens without you doing anything beyond saying yes.
- Before you join
A free introductory chat
Tell us where things stand and when your next funder deadline falls. If we are not the right fit we will say so.
- Week one
Fee agreed and handover sent
We complete your ID checks, agree your fixed fee in writing and write to your current accountant for the records. You avoid that conversation.
- First month
Past filings reviewed in detail
We go through your accounts, returns and HMRC record. This is where missed reliefs and penalties worth appealing usually turn up.
- By ninety days
Every deadline in the diary
Accounts, the community interest report, VAT, payroll and corporation tax are mapped for the year, with your funding pots coded in the bookkeeping.
Who we are not right for
We do not act for registered charities.
We do not take on CIS construction subcontractors.
We do not pick up businesses already late into an HMRC investigation.
If none of those describe you, run the three question check and we will tell you where you stand.
Accountants for grant-funded organisations: questions people ask
What do accountants for grant-funded organisations cost?
You get a fixed monthly fee, agreed in writing before any work starts. It depends on your turnover, how many funding pots you run, payroll headcount, VAT registration and the state of your records. Calls, meetings and emails are never charged on top, so asking a question about a new grant costs nothing.
How do we switch from our current accountant?
You say yes and we do the rest. We complete your ID checks, agree the fee in writing and send a professional clearance letter to your existing accountant so they hand the records over directly. We then get appointed as your agent with HMRC and Companies House. The handover and your first month are free.
What happens if HMRC writes to our CIC?
You send us the letter and we deal with it. Tax investigation cover is included free for every client we act for, so there is no separate add-on to buy and no extra invoice when correspondence arrives. Every HMRC investigation we have handled, we have won. Bring it to us the day it lands.
Do we have to change our bookkeeping software?
No. We work with what you already use. If you do want to move to Xero we migrate you free as part of switching, and we set the funding pots up as codes at the same time. If your records are behind or incomplete, we rebuild them and bring the filings up to date.
Can you produce the spend report our funder asks for?
Yes. Once each grant is coded separately in your bookkeeping, a report for one pot is run from the system rather than rebuilt from bank statements. Tell us the format your funder wants and when the monitoring deadline falls, and we will have it ready for that date.
Is grant income taxable for a community interest company?
It depends on the terms of the funding and what it pays for. Some grants are trading income, some are not, and the timing of the matching costs matters as much as the income itself. We look at the funding agreement before your year end so the corporation tax position is settled early.
Three ways to take the next step
Run the three question check
It takes a minute, and we come back the same working day with what we would change first.
Start the checkGot a question about a funding agreement?
Send it to Mudassir and we will answer it, because calls and emails are never billed.
Ask Mudassir a questionStill deciding
The guides set out what funders and Companies House expect from a community interest company each year.
Read the guides