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This document is part of the Progress Educational Trust (PET)'s reports and accounts for the year ended 31 March 2013, as submitted to the Charity Commission and Companies House.
The charity's 2014, 2012, 2011, 2010, 2009, 2008 and 2007 reports and accounts are also available on this website.

Independent Auditors' Report to the Members of the Progress Educational Trust

We have audited the accounts of the Progress Educational Trust for the year ended 31 March 2013. These accounts have been prepared in accordance with the accounting policies set out in the Notes to the Accounts.
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of Trustees and auditors
As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of Progress Educational Trust for the purposes of company law, are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view.
Our responsibility is to audit and express an opinion on the accounts in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the accounts sufficient to give reasonable assurance that the accounts are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charity's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Trustees; and the overall presentation of the accounts. In addition, we read all the financial and non-financial information in the Trustees' Annual Report to identify material inconsistencies with the audited accounts. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

In our opinion the accounts:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2013 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matters prescribed by the Companies Act
In our opinion the information given in the Trustees' Report for the financial year for which the accounts are prepared is consistent with the accounts.

Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 required us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us;
the accounts are not in agreement with the accounting records and returns;
certain disclosure of trustees' remuneration specified by law are not made;
we have not received all the information and explanations we require for our audit.

Gerald Edelman, Chartered Accountants/Statutory Auditor (25 Harley Street, London W1G 9BR, UK), 18 October 2013