REGISTERED COMPANY NUMBER: 02928687 (England and Wales)

REGISTERED CHARITY NUMBER: 1062142

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE UNITED KINGDOM SOCIETY FOR

TRENCHLESS TECHNOLOGY

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

15

TRUSTEES

Mrs C N Gowdy

Ms S Herron

I R Ramsey

D Greig

J Albarella

P Steele

S Butterworth

A Gundry

Miss L Woods

G Howard

T Sargent

Dr I A Naismith

P Henley

J Smith

R Wahl

Mrs J Tickle (resigned 9.10.25)

P C Guilliatt

J W Barnes

F Sweeney

F Thums (appointed 9.10.25)

REGISTERED OFFICE

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

REGISTERED COMPANY NUMBER

02928687 (England and Wales)

REGISTERED CHARITY NUMBER

1062142

INDEPENDENT EXAMINER

TC Group

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

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 2025. 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.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Council and Trustees of the UKSTT continued to meet regularly throughout 2025, holding four in-person Council meetings during the year. The Society's subcommittees also met online as required to progress their respective activities. These meetings support the effective governance and operation of UKSTT and ensure that the Society continues to deliver its charitable objectives.

In February 2025, UKSTT successfully delivered the second National Trenchless Conference. Building on the success of the inaugural event, the conference was well attended and provided an important platform for industry professionals to share technical knowledge, discuss current challenges and explore developments within the trenchless sector.

The Society delivered two specialist masterclasses during the year. The first focused on preventing infiltration and provided attendees with practical and technical guidance on identifying and addressing water ingress within underground infrastructure. The second covered renewal and new installation techniques, offering insight into current methods, applications and industry best practice.

UKSTT continued to support individuals entering the sector through a programme of online New to Trenchless Industry Network webinars. Held throughout the year, these sessions provided accessible opportunities for industry newcomers to develop their knowledge, engage with experienced professionals and build connections across the trenchless community..

The Society also provided and coordinated the conference programmes for three NODIG Roadshows held in Ireland, Sheffield and Bristol. The programmes showcased trenchless technology, technical innovation and industry best practice, helping attendees to gain valuable knowledge and insight from experienced speakers and sector specialists.

The Annual Dinner & Awards Ceremony was held in conjunction with the Bristol NODIG Roadshow at Tortworth Court Hotel. The event brought together members, industry professionals and stakeholders to recognise outstanding achievements within the trenchless technology sector, celebrate excellence across the industry and provide valuable networking opportunities for attendees.

UKSTT continued to play an active role within the International Society for Trenchless Technology (ISTT), with representatives serving on a number of ISTT subcommittees. This ongoing involvement enables the Society to contribute to the development of international best practice, share technical expertise and ensure that the interests of the UK trenchless industry are represented on the global stage.

The Society also continued to invest in professional communications through the monthly publication of Trenchless BUZZ. Produced for members and the wider industry, the magazine provides technical articles, industry news, event updates and information on the latest developments in trenchless technology, supporting the Society's commitment to education and knowledge sharing.

Through its governance, conferences, masterclasses, webinars, roadshows, publications, awards programme and international engagement, UKSTT continued to promote education, professional development and the advancement of trenchless technology throughout 2025.

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 £150,072 of which £148,593 were free reserves.

FUTURE PLANS

Looking ahead, UKSTT has outlined an ambitious programme for 2026, 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 21 September 2026 and signed on its behalf by:

G Howard - Trustee

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 2025.

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.

Vivien Hill FCA

TC Group

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

21 September 2026

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations, subscriptions and legacies

2

138,041

-

138,041

149,066

Other trading activities

3

26,232

-

26,232

67,281

Investment income

4

1,465

-

1,465

1,666

Total

165,738

-

165,738

218,013

EXPENDITURE ON

Raising funds

122,114

-

122,114

126,016

Charitable activities

5

Conference and exhibition

35,853

-

35,853

28,677

Newsletter and support

10,150

-

10,150

6,901

Support costs

7,494

-

7,494

8,027

Total

175,611

-

175,611

169,621

NET INCOME/(EXPENDITURE)

(9,873

)

-

(9,873

)

48,392

RECONCILIATION OF FUNDS

Total funds brought forward

159,945

-

159,945

111,553

TOTAL FUNDS CARRIED FORWARD

150,072

-

150,072

159,945

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

1,479

-

1,479

3,081

CURRENT ASSETS

Debtors

12

164,066

-

164,066

187,179

Cash at bank

147,233

-

147,233

126,534

311,299

-

311,299

313,713

CREDITORS

Amounts falling due within one year

13

(162,706

)

-

(162,706

)

(156,849

)

NET CURRENT ASSETS

148,593

-

148,593

156,864

TOTAL ASSETS LESS CURRENT LIABILITIES

150,072

-

150,072

159,945

NET ASSETS/(LIABILITIES)

150,072

-

150,072

159,945

FUNDS

14

Unrestricted funds

150,072

159,945

TOTAL FUNDS

150,072

159,945

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 21 September 2026 and were signed on its behalf by:

G Howard - Trustee

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

2025

2024

£

£

Subscriptions

117,409

104,346

Annual dinner

15,149

37,072

Masterclass

5,483

7,648

138,041

149,066

3.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Conference

7,100

11,600

Magazine advertising income

5,700

12,681

No-Dig Live

13,432

40,000

Roadshows

-

3,000

26,232

67,281

4.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

1,465

1,666

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Conference and exhibition

35,853

-

35,853

Newsletter and support

10,150

-

10,150

Support costs

-

7,494

7,494

46,003

7,494

53,497

6.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

£

£

Support costs

1,019

6,475

7,494

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

2,792

2,643

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

The total amount of trustees' expenses paid during the year ended 31st December 2025 was £6,180 paid to four trustees for travel expenses (2024: £226).

9.	STAFF COSTS

2025

2024

£

£

Wages and salaries

101,260

99,776

Social security costs

2,370

5,090

Other pension costs

2,450

2,348

106,080

107,214

The average monthly number of employees during the year was as follows:

2025

2024

Office

3

3

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025

2024

£60,001 - £70,000

1

1

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations, subscriptions and legacies

149,066

-

149,066

Other trading activities

67,281

-

67,281

Investment income

1,666

-

1,666

Total

218,013

-

218,013

EXPENDITURE ON

Raising funds

126,016

-

126,016

Charitable activities

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

48,392

-

48,392

RECONCILIATION OF FUNDS

Total funds brought forward

111,553

-

111,553

TOTAL FUNDS CARRIED FORWARD

159,945

-

159,945

11.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

Totals

£

£

£

COST

At 1 January 2025

8,817

2,797

11,614

Additions

1,190

-

1,190

At 31 December 2025

10,007

2,797

12,804

DEPRECIATION

At 1 January 2025

6,613

1,920

8,533

Charge for year

2,353

439

2,792

At 31 December 2025

8,966

2,359

11,325

NET BOOK VALUE

At 31 December 2025

1,041

438

1,479

At 31 December 2024

2,204

877

3,081

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

159,181

186,516

Prepayments

4,885

663

164,066

187,179

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

31,226

35,578

Accruals and deferred income

131,480

121,271

162,706

156,849

Included in Accruals and deferred income is £127,360 in respect of subscriptions and advertising paid in advance for the following year (2024 £117,345).

14.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

159,945

(9,873

)

150,072

TOTAL FUNDS

159,945

(9,873

)

150,072

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

165,738

(175,611

)

(9,873

)

TOTAL FUNDS

165,738

(175,611

)

(9,873

)

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted fund

111,553

48,392

159,945

TOTAL FUNDS

111,553

48,392

159,945

Comparative net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

218,013

(169,621

)

48,392

TOTAL FUNDS

218,013

(169,621

)

48,392

15.	RELATED PARTY DISCLOSURES

Other than the Trustees expenses disclosed in note 8, there were no other related party transactions for the year ended 31st December 2025.