REGISTERED COMPANY NUMBER: 02928687 (England and Wales) REGISTERED CHARITY NUMBER: 1062142
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022
| 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 2022
TRUSTEES
Mrs C N Gowdy Ms S Herron R D Swan (appointed 13.10.22) I R Ramsey C Tickle I Vickridge (resigned 13.10.22) D Greig M Lusher (resigned 13.10.22) J Albarella T Sangster (resigned 13.10.22) S Stone P Steele S Butterworth A Gundry L Woods C Brodie P Henderson (resigned 18.5.23) G Howard S Mcmurray T Sargent N Spenceley (resigned 13.10.22) P Cheers (appointed 13.10.22) Dr I A Naismith (appointed 13.10.22) S Marsh (appointed 13.10.22)
REGISTERED OFFICE
Park House 200 Drake Street Rochdale Lancashire OL16 1PJ
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
Page 1
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022. 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
UKSTT held a very successful Infiltration Workshop with Wessex Water in Bristol and also planned the conference for two NODIG Roadshows that took place in Belfast & Warrington.
The Society's Annual Gala Dinner & Awards Ceremony took place on September 14th during the biennial NODIG Live Show. Training was also offered to universities and client organisations and will continue to do so during 2023
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 £120,084 of which £113,471 were free reserves.
FUTURE PLANS
Future plans involve the implementation of a Trenchless Conference and the benefits received mainly in the form of reduction in carbon emissions. The Annual Awards Dinner is being planned for 2023 to coincide with a Bristol NODIG Roadshow.
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.
Page 2
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT 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 6 September 2023 and signed on its behalf by:
D Greig - Trustee
Page 3
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 2022.
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
-
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
-
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.
Wyatt Morris Golland Ltd Park House 200 Drake Street Rochdale Lancashire OL16 1PJ
6 September 2023
Page 4
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations, subscriptions and legacies 126,693 - 126,693 Other trading activities 2 5,400 - 5,400 Investment income 3 128 - 128 Total 132,221 - 132,221 EXPENDITURE ON Raising funds 66,938 - 66,938 Charitable activities 4 Conference and exhibition 17,683 - 17,683 Newsletter and support 4,575 - 4,575 Support costs 5,349 - 5,349 Total 94,545 - 94,545 NET INCOME/(EXPENDITURE) 37,676 - 37,676 RECONCILIATION OF FUNDS Total funds brought forward 82,408 - 82,408 TOTAL FUNDS CARRIED FORWARD 120,084 - 120,084 |
2021 Total funds £ 75,996 1,320 346 77,662 60,792 14,756 3,059 3,950 82,557 (4,895) 87,303 82,408 |
|---|---|
The notes form part of these financial statements
Page 5
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
BALANCE SHEET 31 DECEMBER 2022
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 10 6,613 - CURRENT ASSETS Debtors 11 113,632 - Cash at bank 133,531 - 247,163 - CREDITORS Amounts falling due within one year 12 (133,692) - NET CURRENT ASSETS 113,471 - TOTAL ASSETS LESS CURRENT LIABILITIES 120,084 - NET ASSETS/(LIABILITIES) 120,084 - FUNDS 13 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 6,613 113,632 133,531 247,163 (133,692) 113,471 120,084 120,084 120,084 120,084 |
2021 Total funds £ 260 86,213 104,723 190,936 (108,788) 82,148 82,408 82,408 82,408 82,408 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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
-
(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 6 September 2023 and were signed on its behalf by:
D Greig - Trustee
The notes form part of these financial statements
Page 6
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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
Office -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
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Masterclass | 5,400 | 1,320 |
continued...
Page 7
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
3. INVESTMENT INCOME
| 3. | INVESTMENT INCOME | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Deposit account interest | 128 | 346 | ||
| 4. | CHARITABLE ACTIVITIES COSTS | |||
| Support | ||||
| Direct | costs (see | |||
| Costs | note 5) | Totals | ||
| £ | £ | £ | ||
| Conference and exhibition | 17,683 | - | 17,683 | |
| Newsletter and support | 4,575 | - | 4,575 | |
| Support costs | - | 5,349 | 5,349 | |
| 22,258 | 5,349 | 27,607 | ||
| 5. | SUPPORT COSTS | |||
| Governance | ||||
| Finance | costs | Totals | ||
| £ | £ | £ | ||
| Support costs | 501 | 4,848 | 5,349 | |
| 6. | NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Depreciation - owned assets | 2,464 | 260 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
The total amount of trustees' expenses paid during the year ended 31st December 2022 was £nil (2021: £nil).
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Office | 3 | 1 |
No employees received emoluments in excess of £60,000.
continued...
Page 8
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations, subscriptions and legacies | 75,996 | - | 75,996 | |
| Other trading activities | 1,320 | - | 1,320 | |
| Investment income | 346 | - | 346 | |
| Total | 77,662 | - | 77,662 | |
| EXPENDITURE ON | ||||
| Raising funds | 60,792 | - | 60,792 | |
| Charitable activities | ||||
| Conference and exhibition | 14,756 | - | 14,756 | |
| Newsletter and support | 3,059 | - | 3,059 | |
| Support costs | 3,950 | - | 3,950 | |
| Total | 82,557 | - | 82,557 | |
| NET INCOME/(EXPENDITURE) | (4,895) | - | (4,895) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 87,303 | - | 87,303 | |
| TOTAL FUNDS CARRIED FORWARD | 82,408 | - | 82,408 | |
| 10. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | ||||
| Office | fittings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 January 2022 | - | 1,042 | 1,042 | |
| Additions | 8,817 | - | 8,817 | |
| At 31 December 2022 | 8,817 | 1,042 | 9,859 | |
| DEPRECIATION | ||||
| At 1 January 2022 | - | 782 | 782 | |
| Charge for year | 2,204 | 260 | 2,464 | |
| At 31 December 2022 | 2,204 | 1,042 | 3,246 | |
| NET BOOK VALUE | ||||
| At 31 December 2022 | 6,613 | - | 6,613 | |
| At 31 December 2021 | - | 260 | 260 |
continued...
Page 9
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
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 |
2022 £ 112,335 1,297 113,632 2022 £ 17,497 21,869 94,326 133,692 |
2021 £ 85,565 648 |
|---|---|---|
| 86,213 | ||
| 2021 £ - 16,641 92,147 |
||
| 108,788 |
Included in Accruals & deferred income is £91,870 in respect of subscriptions paid in advance for the following year (2021 £79,610) and £nil sponsorship for the following year's Annual dinner (2021 £1,200).
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.22 in funds 31.12.22 £ £ £ 82,408 37,676 120,084 82,408 37,676 120,084 Incoming Resources Movement resources expended in funds £ £ £ 132,221 (94,545) 37,676 132,221 (94,545) 37,676 Net movement At At 1.1.21 in funds 31.12.21 £ £ £ 87,303 (4,895) 82,408 87,303 (4,895) 82,408 |
Net movement At At 1.1.22 in funds 31.12.22 £ £ £ 82,408 37,676 120,084 82,408 37,676 120,084 Incoming Resources Movement resources expended in funds £ £ £ 132,221 (94,545) 37,676 132,221 (94,545) 37,676 Net movement At At 1.1.21 in funds 31.12.21 £ £ £ 87,303 (4,895) 82,408 87,303 (4,895) 82,408 |
|---|---|---|
| 82,408 |
continued...
Page 10
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 77,662 | (82,557) | (4,895) |
| TOTAL FUNDS | 77,662 | (82,557) | (4,895) |
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 11
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| INCOME AND ENDOWMENTS Donations, subscriptions and legacies Grants Subscriptions Other trading activities Masterclass Investment income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies 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 income/(expenditure) |
2022 £ 2,500 124,193 126,693 5,400 128 132,221 61,132 5,806 66,938 1,984 15,861 400 1,549 2,464 - 22,258 501 2,095 325 2,428 4,848 94,545 37,676 |
2021 £ 4,000 71,996 75,996 1,320 346 77,662 53,520 7,272 60,792 2,919 8,450 140 2,046 260 4,000 17,815 248 1,955 356 1,391 3,702 82,557 (4,895) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12