Reminder – new SORP becomes effective

As we highlighted in the previous edition of the newsletter, the 2026 Charities Accounting Statement of Recommended Practice (the “SORP”) was issued in November 2025 and is effective for accounting periods beginning on or after 1 January 2026. The updates to the SORP are principally to reflect changes to the underlying FRS 102 reporting framework, in particular in relation to the new five step revenue recognition model for contracts with customers and the requirement to bring leases on to the balance sheet via the recognition of right of use assets, amongst other changes. The new SORP interprets and provides sector specific guidance for application of the new reporting standards by charities.

See our Charity SORP 2026 factsheet.

If you have any questions, then please feel free to get in touch with Michaela Johns on 023 8046 1256 or email Michaela Johns.