The Sorp Revision: Staff/trustee disclosures

By finance expert Don Bawtree

Don Bawtree
Don Bawtree

The recent focus on charity chief executives' pay is likely to drive further disclosures in this area. The ED still expects disclosure of salary bands of more than £60,000, but also requires more.

In line with FRS 102, the charity must set out the pay of senior management and trustees. There is also a question as to whether charities should set out chief executive pay, though many might do so voluntarily.

Charities have not always been consistent in how they disclose redundancy and compensation payments. These now have to be included in the earnings table and shown as a separate component.

FRS 102 introduces a minor change to allow for earned holiday pay. This might hold surprises because no one has considered this before.

Related parties need to take into account a wider variety of connections and relationships than before, and a new, undefined concept of "de facto" trustee has been introduced - similar to a shadow director in companies.


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