REGISTERED COMPANY NUMBER: 02928687 (England and Wales) REGISTERED CHARITY NUMBER: 1062142
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020
TRUSTEES
Mrs C N Gowdy Ms S Herron I R Ramsey C Tickle I Vickridge D Greig S Little (resigned 14.10.20) M Lusher M Izzard (resigned 1.2.20) J Albarella T Sangster G Cartledge (resigned 14.10.20) M Kelly (resigned 23.4.20) S Stone P Steele S Butterworth A Gundry L Woods C Brodie (appointed 14.10.20) P Henderson (appointed 14.10.20) G Howard (appointed 14.10.20) S Mcmurray (appointed 14.10.20) T Sargent (appointed 14.10.20) N Spenceley (appointed 14.10.20)
REGISTERED OFFICE
Camden House Warwick Road Kenilworth Warwickshire CV8 1TH
REGISTERED COMPANY NUMBER 02928687 (England and Wales)
REGISTERED CHARITY NUMBER 1062142
INDEPENDENT EXAMINER
Wyatt, Morris, Golland Ltd Park House 200 Drake Street Rochdale Lancashire OL16 1PJ
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's principal objectives as set out in its Memorandum of Association are:-
a) To advance the science and practice of trenchless technology for the public benefit ("Trenchless Technology" meaning technology for the servicing, renovation and replacement of existing, and the construction of new, public utilities and other services underground without the digging of trenches, including the development of all kinds of underground mapping techniques, tunnelling devices and specialist machinery, materials and equipment); and
b) To promote education, training, study and research in the said science and practice for the public benefit, and to publish the useful results of the same.
The company is committed to the principles of sustainable development by the promotion of energy conservation, pollution management and a reduction in the use of the earth's natural resources.
Mission Statement
UKSTT exists to enable its members to promote the environmental, technical and commercial benefits of Trenchless Technology to the community, through explanation, education, training and research.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The company attains its objectives by holding meetings and attendance at meetings which allow for an interchange of ideas regarding 'trenchless technology'.
During the year the elected council and the subgroups formed within it have worked hard at promoting trenchless technology to a wide range of people, through lectures, conferences, newsletters, and other initiatives, some of them jointly with other societies.
The charity did not hold their Annual Dinner & Awards Ceremony in 2020 due to Covid-19 restrictions.
The pandemic prevented holding seminars and training sessions during 2020 and in its place UKSTT scheduled a series of 'Mini Masterclass' sessions that were held via our webinar platform to continue promoting the techniques involved in trenchless technology. The Society also joined forces with Westrade Group to bring a series of topical webinars as well as forming the 'Green Alliance' with the Pipeline Industries Guide to highlight the achievements being made to reach Net Zero,
The Society's AGM was held remotely on the 14th October 2020.
FINANCIAL REVIEW
Investment policy and objectives
The Charity's powers of investment are governed by its Memorandum and Articles of Association.
The trustees have considered the most appropriate policy for investing funds and have found that a building society or bank deposit account meets their requirements.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which equate to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds were in excess of this level, however, the directors consider that the funds will be required to meet potential shortfalls in income over the next few years.
Year end unrestricted reserves amounted to £87,303 of which £86,183 were free reserves.
FUTURE PLANS
The Society is planning on holding a number of events in 2021 to include the Biennial NODIG Live in September, a NDRS in October in Scotland as well as a masterclass in November.
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The company is managed by the council of management who meet on a regular basis to progress the activities of the charity.
Induction and training of new trustees
The training of any new trustees is under taken based on their specific requirements, together with peer support.
Public Benefit
When planning the activities for the year, the trustees have considered the commissions guidance on public benefit and in particular the trustees have considered how planned activities will contribute to the aims and objectives they have set.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 September 2021 and signed on its behalf by:
Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
Independent examiner's report to the trustees of The United Kingdom Society for Trenchless Technology ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Miss P. A. Richards. F.C.A., D.Ch.A. Chartered Accountant Wyatt, Morris, Golland Ltd Park House 200 Drake Street Rochdale Lancashire OL16 1PJ
Date: .............................................
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations, subscriptions and legacies 57,680 - 57,680 Other trading activities 2 (240) - (240) Investment income 3 - - - Total 57,440 - 57,440 EXPENDITURE ON Raising funds 57,344 - 57,344 Charitable activities 4 Conference and exhibition 1,966 - 1,966 Newsletter and support 5,990 - 5,990 Support costs 4,638 - 4,638 Total 69,938 - 69,938 NET INCOME/(EXPENDITURE) (12,498) - (12,498) RECONCILIATION OF FUNDS Total funds brought forward 99,801 - 99,801 TOTAL FUNDS CARRIED FORWARD 87,303 - 87,303 |
2019 Total funds £ 76,397 46,149 363 |
|---|---|
| 122,909 66,861 10,353 16,752 4,673 |
|
| 98,639 | |
| 24,270 75,531 |
|
| 99,801 |
The notes form part of these financial statements
Page 5
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
BALANCE SHEET 31 DECEMBER 2020
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 10 520 - CURRENT ASSETS Debtors 11 71,305 - Cash at bank 114,722 - 186,027 - CREDITORS Amounts falling due within one year 12 (99,244) - NET CURRENT ASSETS 86,783 - TOTAL ASSETS LESS CURRENT LIABILITIES 87,303 - NET ASSETS 87,303 - FUNDS 13 Unrestricted funds TOTAL FUNDS |
2020 Total funds £ 520 71,305 114,722 186,027 (99,244) 86,783 87,303 87,303 87,303 87,303 |
2019 Total funds £ 781 95,275 107,576 202,851 (103,831) 99,020 99,801 99,801 99,801 99,801 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2021 and were signed on its behalf by:
Trustee
Trustee
The notes form part of these financial statements
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| No-Dig Live Roadshows Masterclass Miscellaneous |
2020 £ - - (130) (110) (240) |
2019 £ 34,439 5,757 5,843 110 |
|---|---|---|
| 46,149 |
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
3. INVESTMENT INCOME
| Deposit account interest 4. CHARITABLE ACTIVITIES COSTS Conference and exhibition Newsletter and support Support costs 5. SUPPORT COSTS Support costs 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2020 £ - Support Direct costs (see Costs note 5) £ £ 1,966 - 5,990 - - 4,638 7,956 4,638 Governance Finance costs £ £ 320 4,318 2020 £ 261 |
2019 £ 363 Totals £ 1,966 5,990 4,638 |
|---|---|---|
| 12,594 | ||
| Totals £ 4,638 2019 £ 261 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
The total amount of trustees' expenses paid during the year ended 31st December 2020 was £606 which includes travel costs. (2019: £866).
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2020 | 2019 | |
|---|---|---|
| Office | 1 | 1 |
No employees received emoluments in excess of £60,000.
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
||
|---|---|---|
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations, subscriptions and legacies 71,397 Other trading activities 46,149 Investment income 363 Total 117,909 EXPENDITURE ON Raising funds 66,861 Charitable activities Conference and exhibition 5,353 Newsletter and support 16,752 Support costs 4,673 Total 93,639 NET INCOME 24,270 RECONCILIATION OF FUNDS Total funds brought forward 75,531 TOTAL FUNDS CARRIED FORWARD 99,801 10. TANGIBLE FIXED ASSETS COST At 1 January 2020 and 31 December 2020 DEPRECIATION At 1 January 2020 Charge for year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Restricted Total fund funds £ £ 5,000 76,397 - 46,149 - 363 5,000 122,909 - 66,861 5,000 10,353 - 16,752 - 4,673 5,000 98,639 - 24,270 - 75,531 - 99,801 Fixtures and fittings £ 1,042 261 261 522 520 781 |
Total funds £ 76,397 46,149 363 |
| 122,909 66,861 10,353 16,752 4,673 |
||
| 98,639 | ||
| 24,270 75,531 |
||
| 99,801 |
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Accruals and deferred income |
2020 £ 70,468 837 71,305 2020 £ - 23,110 76,134 99,244 |
2019 £ 93,589 1,686 |
||
|---|---|---|---|---|
| 95,275 | ||||
| 2019 £ 3,264 16,821 83,746 |
||||
| 103,831 |
Included in Accruals & deferred income is £66,045 in respect of subscriptions paid in advance for the following year (2019 £72,530) and £1,200 sponsorship for the following year's Annual dinner (2019 £1,200).
13. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.20 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 99,801 | (12,498) | 87,303 |
| TOTAL FUNDS | 99,801 | (12,498) | 87,303 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,440 | (69,938) | (12,498) |
| TOTAL FUNDS | 57,440 | (69,938) | (12,498) |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.1.19 | in funds | 31.12.19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 75,531 | 24,270 | 99,801 |
| TOTAL FUNDS | 75,531 | 24,270 | 99,801 |
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Education & Training TOTAL FUNDS |
Incoming resources £ 117,909 5,000 122,909 |
Resources Movement expended in funds £ £ (93,639) 24,270 (5,000) - (98,639) 24,270 |
Resources Movement expended in funds £ £ (93,639) 24,270 (5,000) - (98,639) 24,270 |
|---|---|---|---|
| 24,270 |
Education & Training Fund
A grant was received from the International Society of Trenchless Technology during year ended 31 December 2019 to support UKSTT's work on the technical section of our website to make it available to international societies. The grant was fully utilised during the year.
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| INCOME AND ENDOWMENTS Donations, subscriptions and legacies Grants Subscriptions Annual dinner Other trading activities No-Dig Live Roadshows Masterclass Miscellaneous Investment income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Dinner expenses Secretarial fees Office costs Charitable activities Affiliation fees Exhibition and conference expenses Website development Publicity and promotion Depreciation of tangible fixed assets Awards Support costs Finance Bank charges Governance costs Accountancy Book keeping fees Trustees' meeting expenses Total resources expended Net (expenditure)/income |
2020 £ - 57,680 - 57,680 - - (130) (110) (240) - 57,440 - 50,774 6,570 57,344 3,501 2,330 1,470 394 261 - 7,956 320 1,915 250 2,153 4,318 69,938 (12,498) |
2019 £ 5,000 68,152 3,245 |
|---|---|---|
| 76,397 34,439 5,757 5,843 110 |
||
| 46,149 363 |
||
| 122,909 831 52,936 13,094 |
||
| 66,861 4,152 8,003 10,600 2,089 261 2,000 |
||
| 27,105 308 1,920 334 2,111 |
||
| 4,365 | ||
| 98,639 | ||
| 24,270 |
This page does not form part of the statutory financial statements
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