REGISTERED COMPANY NUMBER: 02928687 (England and Wales) REGISTERED CHARITY NUMBER: 1062142
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024
| 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 | to | 13 |
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
TRUSTEES
Mrs C N Gowdy Ms S Herron R D Swan (resigned 10.10.24) I R Ramsey D Greig J Albarella P Steele S Butterworth A Gundry L Woods G Howard S Mcmurray (resigned 10.10.24) T Sargent P Cheers (resigned 3.8.24) Dr I A Naismith S Marsh (resigned 10.10.24) P Henley J Smith R Wahl Mrs J Tickle P C Guilliatt (appointed 10.10.24) J W Barnes (appointed 10.10.24) F Sweeney (appointed 10.10.24)
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
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024. 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 Council & Trustees of the UKSTT meet regularly for subcommittee meetings and 4 times a year in person for the Council Meetings. These meetings ensure UKSTT continues to function effectively.
During 2024, UKSTT successfully organised a NODIG Roadshow in Reading, which showcased the latest trenchless technology innovations and industry best practices. UKSTT's Technical & Education sub-committee expertly managed the conference programming and provided comprehensive client support throughout the event, ensuring attendees received maximum value from their participation.
The Society delivered two highly specialised masterclasses focusing on specific trenchless techniques. The March masterclass delved deep into Cured in Place Pipe Lining, exploring advanced methodologies and practical applications. The November session concentrated on Condition Assessment, providing detailed insights into modern inspection and evaluation techniques for underground infrastructure.
A significant milestone was achieved with the inaugural National Trenchless Conference in Coventry. The event's overwhelming success has secured its position as a cornerstone in UKSTT's future event calendar, demonstrating the industry's appetite for comprehensive knowledge-sharing platforms.
NODIG Live 2024 emerged as the year's flagship event, drawing unprecedented attendance and industry participation. The exhibition's remarkable success has already catalysed planning for the 2026 edition, with enhanced features and expanded networking opportunities being developed.
UKSTT maintained its strong industry presence by supporting key sector events, including Utility Week Live in Birmingham and Floodex in London. The society's international engagement continued with participation in the ISTT International board meeting in Dubai, which included valuable training sessions for the new ISTT website, designed to deliver enhanced member benefits.
The prestigious Annual Dinner & Awards Ceremony was held on the 2nd of October at Stoneleigh Park, Kenilworth, coinciding with NODIG Live. UKSTT Chair Ian Ramsay hosted the elegant evening, featuring the engaging Rev Richard Coles as Guest Speaker. The ceremony celebrated industry excellence, with Jo Parker receiving the distinguished Trenchless Woman of the Year Award and John De Rosa being honoured with the Lifetime Achievement Award.
The society continues to invest in professional communication through its dedicated Graphic Designer, who produces the monthly Trenchless BUZZ magazine. This publication has evolved into an essential industry resource, providing members with valuable insights, technical updates, and industry news.
A significant development in 2024 was the launch of the New to Trenchless Industry Network (NtTIN). This innovative initiative welcomes industry newcomers regardless of age, providing a supportive environment for knowledge exchange and professional development. The network's success has ensured its continuation into 2025, with expanding membership and growing engagement.
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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 £159,945 of which £156,864 were free reserves.
FUTURE PLANS
Looking ahead, UKSTT has outlined an ambitious programme for 2025, encompassing a second Trenchless Conference, three NODIG Roadshows, and two specialised Masterclasses. The schedule also includes a series of educational meetings through the NtTIN programme, culminating in the Annual Dinner & Awards Ceremony. These planned events reflect UKSTT's commitment to advancing industry knowledge, fostering professional development, and strengthening network connections within the trenchless technology sector.
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 3 July 2025 and signed on its behalf by:
G Howard - 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 2024.
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:
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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
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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.
Wyatt Morris Golland Ltd Park House 200 Drake Street Rochdale Lancashire OL16 1PJ
3 July 2025
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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 2024
| 2024 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations, subscriptions and legacies 2 149,066 - 149,066 Other trading activities 3 67,281 - 67,281 Investment income 4 1,666 - 1,666 Total 218,013 - 218,013 EXPENDITURE ON Raising funds 126,016 - 126,016 Charitable activities 5 Conference and exhibition 28,677 - 28,677 Newsletter and support 6,901 - 6,901 Support costs 8,027 - 8,027 Total 169,621 - 169,621 NET INCOME/(EXPENDITURE) 48,392 - 48,392 RECONCILIATION OF FUNDS Total funds brought forward 111,553 - 111,553 TOTAL FUNDS CARRIED FORWARD 159,945 - 159,945 |
2023 Total funds £ 84,197 32,082 1,175 117,454 92,394 18,984 6,364 8,243 125,985 (8,531) 120,084 111,553 |
|---|---|
The notes form part of these financial statements
Page 5
THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
BALANCE SHEET 31 DECEMBER 2024
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 11 3,081 - CURRENT ASSETS Debtors 12 187,179 - Cash at bank 126,534 - 313,713 - CREDITORS Amounts falling due within one year 13 (156,849) - NET CURRENT ASSETS 156,864 - TOTAL ASSETS LESS CURRENT LIABILITIES 159,945 - NET ASSETS/(LIABILITIES) 159,945 - FUNDS 14 Unrestricted funds TOTAL FUNDS |
2024 Total funds £ 3,081 187,179 126,534 313,713 (156,849) 156,864 159,945 159,945 159,945 159,945 |
2023 Total funds £ 5,724 115,063 140,969 256,032 (150,203) 105,829 111,553 111,553 111,553 111,553 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(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 3 July 2025 and were signed on its behalf by:
G Howard - 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 2024
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.
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS, SUBSCRIPTIONS AND LEGACIES
| Subscriptions Subscriptions unpaid for earlier years Annual dinner Masterclass |
2024 £ 104,346 - 37,072 7,648 149,066 |
2023 £ 92,649 (17,670) 9,218 - 84,197 |
|---|---|---|
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. OTHER TRADING ACTIVITIES
| 3. | OTHER TRADING ACTIVITIES | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Conference | 11,600 | - | ||
| Magazine advertising income | 12,681 | 2,500 | ||
| No-Dig Live | 40,000 | - | ||
| Roadshows | 3,000 | 29,582 | ||
| 67,281 | 32,082 | |||
| 4. | INVESTMENT INCOME | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Deposit account interest | 1,666 | 1,175 | ||
| 5. | CHARITABLE ACTIVITIES COSTS | |||
| Support | ||||
| Direct | costs (see | |||
| Costs | note 6) | Totals | ||
| £ | £ | £ | ||
| Conference and exhibition | 28,677 | - | 28,677 | |
| Newsletter and support | 6,901 | - | 6,901 | |
| Support costs | - | 8,027 | 8,027 | |
| 35,578 | 8,027 | 43,605 | ||
| 6. | SUPPORT COSTS | |||
| Governance | ||||
| Finance | costs | Totals | ||
| £ | £ | £ | ||
| Support costs | 724 | 7,303 | 8,027 | |
| 7. | NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Depreciation - owned assets | 2,643 | 2,644 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
The total amount of trustees' expenses paid during the year ended 31st December 2024 was £226 paid to two trustees for travel expenses (2023: £710).
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Office The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,001 - £70,000 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations, subscriptions and legacies 84,197 Other trading activities 32,082 Investment income 1,175 Total 117,454 EXPENDITURE ON Raising funds 92,394 Charitable activities Conference and exhibition 18,984 Newsletter and support 6,364 Support costs 8,243 Total 125,985 NET INCOME/(EXPENDITURE) (8,531) RECONCILIATION OF FUNDS Total funds brought forward 120,084 TOTAL FUNDS CARRIED FORWARD 111,553 |
2024 £ 99,776 5,090 2,348 107,214 2024 3 £60,000 was: 2024 1 Restricted fund £ - - - - - - - - - - - - |
2023 £ 74,397 328 1,281 76,006 2023 3 2023 - Total funds £ 84,197 32,082 1,175 117,454 92,394 18,984 6,364 8,243 125,985 (8,531) 120,084 111,553 |
|
|---|---|---|---|
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
11. TANGIBLE FIXED ASSETS
| Office £ COST At 1 January 2024 and 31 December 2024 8,817 DEPRECIATION At 1 January 2024 4,409 Charge for year 2,204 At 31 December 2024 6,613 NET BOOK VALUE At 31 December 2024 2,204 At 31 December 2023 4,408 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Accruals and deferred income |
Fixtures and fittings £ 2,797 1,481 439 1,920 877 1,316 2024 £ 186,516 663 187,179 2024 £ - 35,578 121,271 156,849 |
Totals £ 11,614 5,890 2,643 8,533 3,081 5,724 2023 £ 114,490 573 |
|---|---|---|
| 115,063 | ||
| 2023 £ 51 33,410 116,742 |
||
| 150,203 |
Included in Accruals & deferred income is £110,345 in respect of subscriptions paid in advance for the following year (2023 £107,200).
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.24 in funds 31.12.24 £ £ £ 111,553 48,392 159,945 111,553 48,392 159,945 |
Net movement At At 1.1.24 in funds 31.12.24 £ £ £ 111,553 48,392 159,945 111,553 48,392 159,945 |
|---|---|---|
| 159,945 |
continued...
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
14. MOVEMENT IN FUNDS - continued
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 Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 218,013 (169,621) 48,392 218,013 (169,621) 48,392 Net movement At At 1.1.23 in funds 31.12.23 £ £ £ 120,084 (8,531) 111,553 120,084 (8,531) 111,553 Incoming Resources Movement resources expended in funds £ £ £ 117,454 (125,985) (8,531) 117,454 (125,985) (8,531) |
|---|---|
15. RELATED PARTY DISCLOSURES
Two trustees were reimbursed £226 travel expenses during the year.
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| INCOME AND ENDOWMENTS Donations, subscriptions and legacies Subscriptions Subscriptions unpaid for earlier years Annual dinner Masterclass Other trading activities Conference Magazine advertising income No-Dig Live Roadshows Investment income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Wages Social security Pensions Dinner expenses Office costs Charitable activities Affiliation fees Exhibition and conference expenses Publicity and promotion Depreciation of tangible fixed assets Support costs Finance Bank charges Vat penalties and interest Governance costs Accountancy Book keeping fees Carried forward |
2024 £ 104,346 - 37,072 7,648 149,066 11,600 12,681 40,000 3,000 67,281 1,666 218,013 99,776 5,090 2,348 3,496 15,306 126,016 2,679 26,034 4,222 2,643 35,578 724 - 724 2,430 595 3,025 |
2023 £ 92,649 (17,670) 9,218 - 84,197 - 2,500 - 29,582 32,082 1,175 117,454 74,397 328 1,281 1,449 14,939 92,394 2,282 15,699 4,724 2,643 25,348 484 1,072 1,556 2,385 722 3,107 |
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This page does not form part of the statutory financial statements
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THE UNITED KINGDOM SOCIETY FOR TRENCHLESS TECHNOLOGY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Governance costs Brought forward Trustees' meeting expenses Total resources expended Net income/(expenditure) |
2024 £ 3,025 4,278 7,303 169,621 48,392 |
2023 £ 3,107 3,580 6,687 125,985 (8,531) |
|---|---|---|
This page does not form part of the statutory financial statements
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