Page URL: https://www.progress.org.uk/notestoaccounts2013
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.

Notes to the Accounts for the year ended 31 March 2013


1. Accounting policies
1. Basis of preparation
The accounts have been prepared under the historical cost convention.
The accounts of the charitable company are prepared on a going concern basis which is dependent on the continued support of major funders.
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 Companies Act 2006.
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 relates to those costs incurred directly in achieving the main aims and objectives of the charitable company.
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. 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.
5. 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.

2. Donations and legacies
Unrestricted funds Restricted funds Total 2013 Total 2012
£ £ £ £
Donations and gifts 48,347 - 48,347 30,054
£48,347 - £48,347 £30,054
Donations were received by the way of the provision of services free of charge during the year totalling £2,800. No provision has been made in the accounts for this amount.

3. Investment income
2013 2012
£ £
Interest receivable 20 46
£20 £46

4. Incoming resources from charitable activities
Unrestricted funds Restricted funds Total 2013 Total 2012
£ £ £ £
Gift In charity
Transfer of restricted funds - - - 8,523
Grants receivable - 17,382 17,382 40,997
- £17,382 £17,382 £49,520
Other incoming resources
Sponsorship 15,334 - 15,334 5,750
Conferences and events income 7,460 - 7,460 9,612
Consultancy income 52,716 - 52,716 37,168
Advertising income 7,265 - 7,265 2,582
Other income 2,465 - 2,465 1,108
£85,240 - £85,240 £56,220
Total £85,240 £17,382 £102,622 £105,740

5. Total resources expended
Staff costs Other costs Total 2013 Total 2012
£ £ £ £
Charitable expenditure 100,982 17,382 118,364 111,721
Governance costs 2,250 - 2,250 2,200
£103,232 £17,382 £120,614 £113,921
Governance costs Indudes payments to the auditors of £1,500 for their fees and £750 for other services provided.

6. Expenses arising on charitable activities
Unrestricted Restricted 2013 2012
£ £ £ £
Salaries 83,391 12,436 95,827 91,428
Conferences and events 2,204 2,816 5,020 4,718
Legal fees - - - 14
Rent, rates and service charge 7,179 - 7,179 5,807
Heat and light 710 - 710 500
Insurance 537 - 537 471
Telephone and internet 3,531 - 3,531 3,914
Stationery and photocopying 237 945 1,182 1,132
Bank charges 300 - 300 325
Office equipment 1,550 - 1,550 1,725
Sundry 1,343 1,185 2,528 1,687
£100,982 £17,382 £118,364 £111,721

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:
2013 number 2012 number
Administrative 5 5
Employment costs
2013 2012
£ £
Wages and salaries 88,295 84,281
Social security costs 7,532 7,147
£95,827 £91,428
There were no employees whose annual remuneration was £60,000 or more.

9. Taxation
PET is exempt from corporation tax on its activities because of its charitable status.

10. Debtors
2013 2012
£ £
Trade debtors 2,100 5,916
Other debtors 8,691 -
Prepayments and accrued income 1,600 1,600
£12,391 £7,516

11. Creditors: amounts falling due within one year
2013 2012
£
Taxes and social security costs 2,378 2,109
Other creditors 1,600 342
Accruals 2,000 2,000
5,978 4,451

12. Restricted funds
Movement on restricted funds was as follows:
£
Grants
Trusts and foundations 17,382
Total income 17,382
This grant was for a project concerning the public and professional understanding of donor conception.
Expenditure
Personnel and support costs 12,436
Telephone and internet 1,185
Stationery and photocopy 945
Conferences and events 2,816
Total expenditure 17,382
Surplus/(deficit) for year -
Fund balances brought forward -
Fund Balances carried forward -

13. Commitments under operating leases
At 31 March 2013 the company had annual commitments under non-cancellable operating leases as follows:
Land and buildings
2013 2012
£ £
Expiry date: between two and five years 6,000 6,000

14. Share capital
The company has no share capital being limited by guarantee. The guarantors will contribute a maximum of £10 in the event of liquidation.