**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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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