Page URL: https://www.progress.org.uk/notestoaccounts2010
This document is part of the Progress Educational Trust (PET)'s reports and accounts for the year ended 31 March 2010, as submitted to the Charity Commission.
The charity's 2014, 2013, 2012, 2011, 2009, 2008 and 2007 reports and accounts are also available on this website.

Notes to the Accounts for the year ended 31 March 2010


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 2010 Total 2009 Total
£ £ £ £
Department of Health - 30,000 30,000 30,000
Wellcome Trust (BioNews) - - - 63,000
Wellcome Trust (Spectrum of Opinion) - 5,878 5,878 -
Medical Research Council - - - 20,000
- £35,878 £35,878 £113,000

3. Staff costs
No remuneration was paid to Trustees in the year, nor were any Trustees' expenses reimbursed. The staff costs were:
2010 2009
£ £
Wages and salaries 70,720 76,261
Social security costs 6,392 7,021
£77,112 £83,282
The average number of employees during the year was 3. (2009 - 3.5)

4. Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2009 13,398
Additions -
At 31 March 2010 13,398
Depreciation
At 1 April 2009 9,780
Charge for year 1,735
At 31 March 2010 11,515
Written Down Values At 31 March 2010 £1,883
At 31 March 2009 £3,618
Tangible fixed assets are all used directly for charitable purposes.

5. Debtors (due within one year)
2010 2009
£ £
Trade 1,695 2,227
Prepayments 1,933 1,933
Other debtors 1,497 2,158
£5,125 £6,318

6. Current liabilities (amounts falling due within one year)
2010 2009
£ £
Trade creditors 1,118 827
Social Security and other taxes - 1,674
Other creditors 90 488
Accruals 1,859 2,162
£3,067 £5,151

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 5,878 - - 5,878
Total income 5,878 30,000 - 35,878
Expenditure
Personnel and support costs 6,020 23,049 22,285 51,354
BioNews website overhaul - 7,394 6,740 14,134
Conferences and events 270 - - 270
Rent and rates 480 1,800 4,399 6,679
Heat and light 82 93 230 405
Telephone and internet 566 310 1,452 2,328
Stationery and photocopying 190 285 844 1,319
Postage and sundry 221 10 10 241
Total Expenditure 7,829 32,941 35,960 76,730
Surplus/(deficit) for year (1,951) (2,941) (35,960) (40,852)
Fund balances brought forward - 18,771 38,384 57,155
Fund Balances carried forward £(1,951) £15,830 £2,424 £16,303
The residual balance of £15,830 on the Department of Health funding is to be carried forward and spent on the upgrading of the BioNews website in 2010/2011.
The deficit of £1,951 on the Wellcome Trust funding is to be carried forward into 2010/2011 when further funding of £5,877 is to be received for the Spectrum of Opinion project.
The residual balance of £2,424 on the Wellcome Trust (2008/2009) funding is to be carried forward and spent on the redesign and overhaul of the BioNews weekly email and associated archive and website in 2010/2011.