Company registration number 02862807 (England and Wales)
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
COMPANY INFORMATION
Directors
R Warneford
A Harrington
M Worsfold
A Hoyle
J Casey
S Kaye
E Cartmel
J P Tucker
D Curran
B Roche
M Wheeldon
R Walwyn
P Kerr
(Appointed 2 February 2022)
S Jans
(Appointed 5 May 2022)
Mr C Taylor
(Appointed 18 August 2022)
Company number
02862807
Registered office
First Floor
3 More London Riverside
London
SE1 2RE
Auditor
BHP LLP
2 Rutland Park
Sheffield
S10 2PD
Bankers
Virgin Money
81 Carlton Street
Castleford
West Yorkshire
WF10 1BW
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
CONTENTS
Page
Directors' report
1 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 14
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
- 1 -
The company directs and procures a programme of research for UK
and the Irish Republic
water operating companies on "one voice" issues. This is the company's
twenty fourth
annual report and audited accounts and covers the year to 31 March 2022.
Constitutional framework
Since 1999, the Board of UK Water Industry Research Limited (UKWIR) has played a strategic role on behalf of the water industry in setting the direction for research and being responsible for the development and delivery of the programme. This role also requires agreement on business needs driving research and determination of overall priorities. Each spring the Board agrees its advice on strategic priorities, which is disseminated to all UKWIR members prior to the Advisory Group meetings held in June and December. Part of the Board's function is to enhance the benefit and value obtained by members by instigating collaboration with other bodies where appropriate. Directors continue to be appointed to the Board from amongst senior industry representatives whose experience covers a wide range of disciplines and interests.
Directors
The directors and officers
during the year ended
31 March 20
22,
together with any subsequent changes
, are as follows:
R Warneford
A Harrington
M Worsfold
A Hoyle
H M G Orton
(Resigned 1 September 2021)
J Casey
S Kaye
E Cartmel
K E Owens
(Resigned 1 November 2022)
J P Tucker
A Dunn-Flores
(Resigned 1 November 2021)
D Curran
B Roche
T L Sephton
(Resigned 31 August 2022)
M L Davies
(Resigned 11 March 2022)
M Wheeldon
R Walwyn
P Kerr
(Appointed 2 February 2022)
S Jans
(Appointed 5 May 2022)
Mr C Taylor
(Appointed 18 August 2022)
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
Results and dividends
The results for the year are set out on page 8.
Income from member subscriptions total
l
ed £
3
,
427
,
769
for the 20
21/22
programme.
Other project contributions of £2,204,982 were also made by organisations including water companies, quality and environmental regulators and overseas research organisations. In addition to this £250,0000 was received via OFWAT for the Spring Innovation start up.
A moderate level of direct income (£145.6K) has been secured through collaborative projects, working with wider stakeholders, including regulators, UK research councils, and academia. It is planned to increase this type of funding, over and above the baseline funding from UKWIR members, into the future as the research programme grows. In 2021/22 additional leverage to the value of £362.8K was also secured through our programme.
Project management continues to be performed by a mixture of
resources from
within the water industry and
external
consultants. Tender prices for planned projects proved to be attractive with contractors offering competitive rates.
The Board agreed that the current level of funds carried forward should be used to supplement the annual subscription in a managed way over the coming years as they anticipate that the demand for research investment may exceed income as the business planning cycle progresses.
UKWIR continues to publish reports from research projects and
29
reports were produced and circulated during the year. The UKWIR website (www.ukwir.org) is used to publicise the UKWIR programme and water research related news. Reports are listed on the website and public domain reports can
now be viewed for free.
Project dissemination through seminars and workshops
, mainly virtual at the moment,
continues; these
are
viewed as beneficial and are well attended by companies' representatives, who continue to give positive feedback on the value of these events. During 20
21
/
22
a total of
28
project workshops were held, bringing together a total of over
4
00 delegates.
A subsidiary company was set up in December 2021 called Spring Innovation Limited (a company limited by guarantee and not having share capital). Spring will enable the delivery of near to market innovation solutions and provide a knowledge transfer service to the water sector.
The Board has set a financial policy to retain a working reserve of £500,000 to ensure that the company has sufficient funds to meet its core commitments in relation to staff and premises. At the year-end there was deferred subscription income of £2,553,154 (2021 £2,699,162) included within creditors. Of this, £500,000 can be considered as the "reserve". The remainder is underspend and there is a plan underway to spend these funds as part of a ongoing medium term plan.
UKWIR plan to invest in Spring over the next years, £375K through 2023/24 and a further £375k in 2024/25. With all the currently committed project investment and additional planned project expenditure we do not expect to have any unallocated funds at the end of 2023/24, although as previously stated we will always retain a £500k reserve uncommitted sum.
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
Future developments
UKWIR views the dissemination and implementation of technical results as crucial and has asked contractors to plan for and arrange technology transfer workshops at the conclusion of projects. UKWIR will seek to utilise all opportunities to disseminate information arising from its research programme into the industry.
Regular meetings with Water UK help align UKWIR research programmes with national sector priorities.
'UKWIR News' is published on a quarterly basis both separately and as an insert to the Water and Environment Journal published by CIWEM (The Chartered Institute of Water and Environment Management) . It is circulated to approximately 12,000 industry professionals around the world. The News is also distributed electronically as well as in hard copy with the circulation list kept under review.
UKWIR's website has continued to be developed to facilitate a number of activities, such as gathering research ideas and prioritising research options, managing UKWIR's publications, publicising and registration for dissemination events, room booking and completion of quarterly reports by UKWIR's project managers. Plans for further developments are continually under review, including incorporation of technology platforms including webinars, virtual meetings, etc. The coronavirus situation has significantly accelerated the use of such approaches and the outcome has been mostly positive in terms of productivity. There has generally been an increase in home working, a shift towards virtual meetings and a reduced amount of travelling for staff.
Auditor
Since 10 April 1995, elective resolutions have been in force to dispense with the holding of annual general meetings, the laying of accounts before the company in general meeting and the obligation to re-appoint auditors annually.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s
auditor
is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s
auditor
is aware of that information
.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
S Kaye
Director
5 December 2022
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF UK WATER INDUSTRY RESEARCH LIMITED
- 5 -
Opinion
We have audited the financial statements of UK Water Industry Research Limited (the 'company') for the year ended 31 March 2022 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 31 March 2022 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's
responsibilities for the audit of the
financial statements
section of our report. We are independent of the
company
in accordance with the ethical requirements that are relevant to our audit of the
financial statements
in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit
:
-
the information given in the directors'
r
eport for the financial year for which the financial statements are prepared is consistent with the financial statements
; and
-
the directors' report has been prepared in accordance with applicable legal requirements.
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF UK WATER INDUSTRY RESEARCH LIMITED
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the directors'
r
eport
. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of
remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors'
r
esponsibilities
s
tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of
financial statements
that are free from material misstatement, whether due to fraud or error. In preparing the
financial statements
, the
directors are
responsible for assessing the company
'
s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have
no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the
financial statements
as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with
ISAs (UK)
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements
.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below
.
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risks if acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focused on laws and regulations, relevant to the company, which could give rise to a material misstatement in the financial statements. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management, review of company minutes and legal expenses. There are inherent limitations in the audit procedures described and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
As part of our audit, we addressed the risk of management override of internal controls, including testing of journals and a review of the nominal ledger. We evaluated whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF UK WATER INDUSTRY RESEARCH LIMITED
- 7 -
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Phillip Allsop (Senior Statutory Auditor)
For and on behalf of BHP LLP
5 December 2022
Chartered Accountants
Statutory Auditor
2 Rutland Park
Sheffield
S10 2PD
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
- 8 -
2022
2021
£
£
Turnover
5,894,119
5,034,337
Cost of sales
(4,972,407)
(4,243,311)
Gross profit
921,712
791,026
Administrative expenses
(923,566)
(791,026)
Operating loss
(1,854)
Interest receivable and similar income
1,854
Profit before taxation
Tax on profit
581
810
Profit for the financial year
581
810
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 9 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
1,069,504
304,597
Cash at bank and in hand
3,558,993
5,922,709
4,628,497
6,227,306
Creditors: amounts falling due within one year
4
(4,622,990)
(6,222,380)
Net current assets
5,507
4,926
Capital and reserves
Profit and loss reserves
5,507
4,926
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 December 2022 and are signed on its behalf by:
P Kerr
Director
Company Registration No. 02862807
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2020
4,116
4,116
Year ended 31 March 2021:
Profit and total comprehensive income for the year
-
810
810
Balance at 31 March 2021
4,926
4,926
Year ended 31 March 2022:
Profit and total comprehensive income for the year
-
581
581
Balance at 31 March 2022
5,507
5,507
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 11 -
1
Accounting policies
Company information
UK Water Industry Research Limited is a
private
company
limited by guarantee
incorporated in
England and Wales
.
The registered office is
First Floor, 3 More London Riverside, London, SE1 2RE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Income represents contributions from members of the company and collaborators, shared income from the sale of toxicity datasheets and sales of reports, excluding Value Added Tax.
Revenue from the sale of reports and toxicity datasheets is recognised at the point of transaction.
Member contribution income represents the agreed annual amounts which each member contributes towards the ongoing projects and running costs of UK Water Industry Research Limited. Any contributions from members at the end of the reporting period in excess of the annual overheads and project costs are carried forward as deferred income for use in the next period.
Project contribution income is recognised by reference to the achievement of set project milestones. Any excess project income for milestones not yet achieved at the end of the reporting period is treated as deferred income.
1.3
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks
.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 12 -
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Retirement benefits
For staff employed by UKWIR prior to May 2000, the company participates in the Water Companies' Pension Scheme (WCPS), a defined benefit scheme. WCPS is a multi-employer scheme and is managed by corporate trustees, the Water Companies (Pension Fund) Trustee Company, and is accounted for separately from the company's finances. From 1 April 2003 the UKWIR sub-fund of WCPS was merged with that of Water UK and thereafter will pay contributions as requested by Water UK on the basis of actuarial advice. As it is not possible to identify the company's share of the underlying assets and liabilities in the scheme on a consistent and reliable basis, contributions to the scheme area accounted for as though it were a defined contributions scheme on a contributions payable basis.
From 1 May 2000, new employees have been offered a personal pension arranged by UKWIR. The amount charged to profit and loss account represent the amounts contributed during the period.
1.7
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to income and expenditure account.
2
Employees
The average monthly number of persons employed by the company during the year was 7
(2021 - 6).
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 13 -
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
236,159
163,711
Corporation tax recoverable
581
Other debtors
832,764
140,886
1,069,504
304,597
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
691,661
406,131
Amounts due to group undertakings
356,313
Corporation tax
190
Other creditors
3,575,016
5,816,059
4,622,990
6,222,380
Other creditors are as follows:
2022
2021
£
£
Deferred income - subscriptions
2,553,154
2,699,162
Deferred income - project contributions
63,814
1,544,953
Pension contributions
910
-
Accrued project costs
957,138
1,571,944
________
________
3,575,016
5,816,059
________
________
5
Operating lease commitments
Lessee
Operating lease payments represent rentals payable by the company for its property, At 31st March 2022, a lease had not been signed for the new premises. A lease was signed shortly after 31 March 2022, but at the year end there was no commitment.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
33,333
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 14 -
6
Related party transactions
Each director of UK Water Industry Research Limited, with the exception of S Kaye, is also a director or senior manager of either a water service company or a water supply company within the United Kingdom and the Irish Republic. These companies are also members of UK Water Industry Research Limited and together provide contributions from members of £3,427,769 (2021 £3,114,312). Specific project contributions of £2,328,839 (2021 £1,783,040) were also received. In addition these companies undertake contracts with UK Water Industry Research Limited throughout the year. These contracts are procured by UK Water Industry Research Limited on a competitive tender basis and so are considered to be on an arm's length basis.
A subsidiary of the company, Spring Innovation Limited was formed in December 2021. Several transactions occurred in the year, and at 31 March 2022 UKWIR owed £356,313 to Spring Innovation Limited.
UK WATER INDUSTRY RESEARCH LIMITED
(A COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL)
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022
2022-03-31
2021-04-01
false
CCH Software
CCH Accounts Production 2022.300
R Warneford
A Harrington
M Worsfold
A Hoyle
H M G Orton
J Casey
S Kaye
E Cartmel
R Warneford
J P Tucker
A J Dunn-Flores
D Curran
B Roche
T L Sephton
M L Davies
A Harrington
R Walwyn
P Kerr
S Jans
M Worsfold
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2022-03-31
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2021-04-01
2022-03-31
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
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2021-04-01
2022-03-31
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
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2021-04-01
2022-03-31
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2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
2022-03-31
02862807
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02862807
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2021-04-01
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2022-03-31
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2021-03-31
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2021-03-31
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2022-03-31
02862807
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2021-03-31
02862807
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02862807
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02862807
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02862807
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2021-03-31
02862807
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2022-03-31
02862807
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2022-03-31
02862807
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2021-03-31
02862807
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
02862807
bus:Audited
2021-04-01
2022-03-31
02862807
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2021-04-01
2022-03-31
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