Page URL: https://www.progress.org.uk/notestoaccounts2009
This document is part of the Progress Educational Trust (PET)'s reports and accounts for the year ended 31 March 2009, as submitted to the Charity Commission.
The charity's 2014, 2013, 2012, 2011, 2010, 2008 and 2007 reports and accounts are also available on this website.

Notes to the Accounts for the year ended 31 March 2009


1. Accounting policies
1. Basis of preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2007, .pdf 548KB) and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities, issued in March 2005.
2. Tangible Fixed Assets for use by the charity and depreciation
Tangible fixed assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value, on a straight line basis, over their expected useful lives as follows:
Computer equipment: over 4 years
3. Income
Fees, voluntary income and donations are accounted for as received by the charity during the period.
4. Value Added Tax
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
5. Grants
1. Grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.
2. Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.
6. Operating Leases
Rentals payable under operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities in the year in which they are incurred.

2. Grants
Unrestricted Grants Restricted Grants 2009 Total 2008 Total
£ £ £ £
Department of Health - 30,000 30,000 -
Wellcome Trust - 63,000 63,000 23,792
Medical Research Council 20,000 - 20,000 -
£20,000 £93,000 £23,792 £23,792

3. Staff costs
No remuneration was paid to Trustees in the year, nor were any Trustees' expenses reimbursed. The staff costs were:
2009 2008
£ £
Wages and salaries 76,261 67,688
Social security costs 7,021 1,305
£83,282 £68,993
The average number of employees during the year was 3. (2008 - 3.5)

4. Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2008 6,458
Additions 6,940
At 31 March 2009 13,398
Depreciation
At 1 April 2008 6,310
Charge for year 1,735
At 31 March 2009 8,045
Written Down Values At 31 March 2009 £5,353
At 31 March 2008 £148
Tangible fixed assets are all used directly for charitable purposes.

6. Debtors (due within one year)
2009 2008
£ £
Trade 2,227 1,075
Prepayments 1,933 1,858
Other debtors 2,158 2,288
£6,318 £5,221

6. Current liabilities (amounts falling due within one year)
2009 2008
£ £
Trade creditors 827 2,122
Social Security and other taxes 1,674 2,494
Other creditors 488 -
Accruals 2,162 1,736
£5,151 £6,352

7. Restricted funds
Movement on restricted funds was as follows:
Debates BioNews expansion BioNews overhaul Total
£ £ £ £
Incoming Resources
Grants
Department of Health - 30,000 - 30,000
Wellcome Trust - - 63,000 63,000
Total income - 30,000 63,000 93,000
Expenditure
Personnel and support costs 7,122 8,802 17,452 33,376
BioNews publishing costs - - 5,688 5,688
Conferences and events 517 - - 517
Rent and rates - 1,975 349 2,324
Heat and light - 90 90 180
Telephone and internet 447 130 765 1,342
Stationery and photocopying 188 190 190 568
Postage and courier 13 42 82 137
Total Expenditure 8,287 11,229 24,616 44,132
Surplus/(deficit) for year (8,287) 18,771 38,384 48,868
Fund balances brought forward 8,287 - - 8,287
Fund Balances carried forward - £18,771 £38,384 £57,155
The residual balance of £18,771 on the Department of Health funding is to be carried forward and spent on the upgrading of the BioNews website in 2009/10.
The residual balance of £38,384 on the Wellcome Trust funding is to be carried forward and spent on the redesign and overhaul of the BioNews weekly email and associated archive and website in 2009/10.