While non-profit businesses don’t make earning lots of money a priority, they are still a business. This means that they need to operate in the same way as any other business.
You will need to keep a record of all finances going in and out of the business so that you can complete a full set of accounts.
However, charities, social enterprises and other non-profit organisations have more complicated tax needs than regular businesses.
For example, a charity won’t need to pay Corporation Tax because there’s no profit to tax. Charities must instead register with the Charity Commission.