Page URL: https://www.progress.org.uk/notestoaccounts2015
This document is part of the Progress Educational Trust (PET)'s reports and accounts for the year ended 31 March 2015, as submitted to the Charity Commission and Companies House.
The charity's 2014, 2013, 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 2015


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 2015 Total 2014
£ £ £ £
Donations and gifts 30,905 - 30,905 54,708
£30,905 - £30,905 £54,708
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
2015 2014
£ £
Interest receivable 114 61
£114 £61

4. Incoming resources from charitable activities
Unrestricted funds Restricted funds Total 2015 Total 2014
£ £ £ £
Grants receivable 106,150 5,000 111,150 25,978
£106,150 £5,000 £111,150 £25,978
Other incoming resources
Sponsorship 19,550 - 19,550 8,000
Conferences and events income 15,736 - 15,736 14,549
Consultancy income 40,200 - 40,200 25,530
Advertising income 13,800 - 13,800 11,333
Other income 1,100 - 1,100 1,100
£90,386 - £90,386 £60,512
Total £201,536 £5,000 £201,536 £86,490

5. Total resources expended
Staff costs Other costs Total 2015 Total 2014
£ £ £ £
Charitable expenditure 108,769 22,120 130,889 121,584
Governance costs 2,400 - 2,400 2,500
£111,169 £22,120 £133,289 £124,084
Governance costs Includes payments to the auditors of £1,500 for their fees and £1,000 for other services provided.

6. Expenses arising on charitable activities
Unrestricted Restricted 2015 2014
£ £ £ £
Salaries 101,535 - 101,535 97,958
Conferences and events 4,676 5,000 9,676 6,746
Rent, rates and service charge 7,234 - 7,234 7,207
Heat and light 1,492 - 1,492 1,021
Insurance 577 - 577 838
Telephone and internet 3,963 - 3,963 3,008
Stationery and photocopying 1,079 - 1,079 1,200
Bank charges 441 - 441 303
Office equipment 2,753 - 2,753 1,616
Sundry 2,126 - 2,126 1,687
£125,889 £5,000 £130,889 £121,584

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:
2015 number 2015 number
Administrative 5 5
Employment costs
2015 2014
£ £
Wages and salaries 95,465 90,575
Social security costs 6,070 7,383
£101,535 £97,958
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
2015 2014
£ £
Trade debtors 12,720 2,690
Other debtors 73,104 10,639
Prepayments and accrued income 1,605 1,603
£87,429 £14,932

11. Creditors: amounts falling due within one year
2015 2014
£
Taxes and social security costs - 1,920
Other creditors - 1,603
Accruals 2,000 2,000
2,000 5,523

12. 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.

13. Analysis of net assets between funds
Fund balances at 31 March 2015 are represented by:
Unrestricted Restricted Total
£ £ £
Current assets 170,735 - 170,735
Creditors: amounts falling due within one year (2,000) - (2,000)
£168,735 - £168,735

14. Commitments under operating leases
At 31 March 2015 the company had annual commitments under non-cancellable operating leases as follows:
Land and buildings
2015 2014
£ £
Expiry date: between two and five years 6,000 6,000

15. Related parties
During the year, the following Trustees made donations to the charity of varying amounts and these are included in total amount shown in Note 2 of the accounts.
Marcus Pembrey
Sue Avery
Jess Buxton
Simon Freeman
John Galloway
Tony Hickinbotham
Allan Pacey
John Parsons
Laura Riley
Also during the year the charity made payments for ongoing IT support services to Connect and Support, a company owned by the husband of Jess Buxton, a Trustee of the charity. These totalled £1,229 (2014: £728).