Page URL: https://www.progress.org.uk/notestoaccounts2011
This document is part of the Progress Educational Trust (PET)'s reports and accounts for the year ended 31 March 2011, as submitted to the Charity Commission.
The charity's 2014, 2013, 2012, 2010, 2009, 2008 and 2007 reports and accounts are also available on this website.

Notes to the Accounts for the year ended 31 March 2011


1. Accounting policies
1. Basis of preparation
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice Accounting and Reporting by Charities, issued in March 2005 and the Charities Act 1993.
2. Incoming resources
Fees, voluntary income and donations are accounted for as received by the charity during the period.
Grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.
Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.
All other income is included on an accruals basis.
3. Resources expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All resources expended are accounted for on an accruals basis and the irrecoverable element of VAT is included in the expenses to which it relates.
Charitable expenditure is represented by grants made to individuals and institutions which are included in the accounts when paid. Expenditure in support of such activities is also included on an accruals basis.
Governance costs are represented by expenditure involving the public accountability of the charity and its compliance with regulation and good practice. These costs include those incurred with regard to strategic planning, legal and audit fees and meeting its statutory obligations.
4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows.
Plant and machinery: over 4 years
5. Leasing and hire purchase commitments
Rents payable under operating leases where substantially all 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 payable.
6. Accumulated funds
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
7. Taxation
As a registered charity the Trust is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation Chargeable Gains Act 1992.

2. Donations and legacies
Unrestricted funds Restricted funds Total 2011 Total 2010
£ £ £ £
Unrestricted Friends donations 21,194 - 21,194 10,482
£21,194 - £21,194 £10,482

3. Investment income
2011 2010
£ £
Interest receivable 2 -
£2 -

4. Incoming resources from charitable activities
Unrestricted funds Restricted funds Total 2011 Total 2010
£ £ £ £
Grants receivable
Wellcome Trust - 36,375 36,375 5,878
Department of Health - - - 30,000
Merck Serono - 5,000 5,000 -
- £41,375 £41,375 £35,878
Other incoming resources
Sponsorship 5,950 - 5,950 4,160
Conferences and events income 8,390 - 8,390 5,755
Consultancy income 31,588 - 31,588 27,825
Advertising income 3,035 - 3,035 3,997
Other income 1,800 - 1,800 1,208
£50,763 - £50,763 £42,945
Total £50,763 £41,375 £92,138 £78,823

5. Total resources expended
Staff costs Depreciation Other costs Total 2011 Total 2010
£ £ £ £ £
Charitable expenditure 93,191 1,883 42,289 137,363 123,698
Governance costs - - 2,588 2,588 1,640
£93,191 £1,883 £44,877 £139,951 £125,338

6. Expenses arising on charitable activities
Unrestricted Restricted 2011 2010
£ £ £ £
Salaries 62,298 30,893 93,191 77,112
Online and publishing costs - - - 1,926
Website construction - 11,416 11,416 14,134
Conferences and events 8,771 1,003 9,774 1,570
Consultancy 1,736 500 2,236 10,758
Rent, rates and service charge 5,831 2,280 8,111 8,143
Heat and light 616 - 616 631
Insurance 574 - 574 560
Telephone and internet 2,616 848 3,464 3,292
Stationery and photocopying 2,609 1,890 4,499 2,038
Bank charges 402 - 402 -
Office equipment - - - 966
Depreciation 1,883 - 1,883 1,735
Bad debts - - - 125
Sundry 872 325 1,197 708
£88,208 £49,155 £137,363 £123,698

7. Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year.

8. Employees
Number of employees
The average monthly number of employees during the year was:
2011 number 2010 number
Administrative 3 3
Employment costs
2011 2010
Wages and salaries £93,191 £77,112
There were no employees whose annual remuneration was £60,000 or more.

9. Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2010 and at 31 March 2011 13,398
Depreciation
At 1 April 2010 11,515
Charge for the year 1,883
At 31 March 2011 13,398
Net book value
At 31 March 2011 -
At 31 March 2010 1,883
Tangible fixed assets are all used directly for charitable purposes.

10. Debtors
2011 2010
£ £
Trade debtors - 1,695
Other debtors - 1,497
Prepayments and accrued income - 1,933
- £5,125

11. Creditors: amounts falling due within one year
2011 2010
£ £
Trade creditors - 1,118
Taxes and social security costs 2,211 -
Other creditors 2,000 90
Accruals - 1,859
4,211 £3,067

12. Restricted funds
Movement on restricted funds was as follows:
'Spectrum of Opinion' project 'Maximising Potential' project BioNews website 'Genes, Race and Ancestry' project Merck Serono Total
£ £ £ £ £ £
Grants
Wellcome Trust 5,878 15,000 7,000 8,497 - 36,375
Merck Serono - - - - 5,000 5,000
Total income 5,878 15,000 7,000 8,497 5,000 41,375
Expenditure
Personnel and support costs 1,563 13,220 11,415 1,195 3,500 30,893
Website construction - - 11,416 - - 11,416
Travel 325 - - - - 325
Telephone and internet 344 160 344 - - 848
Rent and rates 480 - 1,800 - - 2,280
Stationery and photocopy 279 417 279 279 - 1,254
Conferences and events - 1,003 - - - 1,003
Consultancy 500 - - - - 500
Postage and sundry 436 200 - - - 636
Total Expenditure 3,927 15,000 25,254 1,474 3,500 49,155
Surplus/(deficit) for year 1,951 - (18,254) 7,023 1,500 (7,780)
Fund balances brought forward (1,951) - 18,254 - - 16,303
Fund Balances carried forward - - - £7,023 £1,500 £8,523