Financial Report to Members
Report to Members as required by the Trade Union & Labour Relations (Consolidated) Act 1992
In accordance with Section 32A of the Act, the Executive Committee hereby gives the following information extracted from its accounts and annual return for the year ended 31 December 2010.
a) Total income of the Union £1,793,371
Less Expenditure £1,762,283
Surplus for the period £31,088
b) Total membership income receivable £1,793,371
c) The Union does not have a Political Fund
d) i. Members of the Executive Committee do not receive any salary or other benefits as defined by the Trade Union’s Certification Order.
ii. The General Secretary's Salary and Benefits were:
Salary £58,586
Pension contributions £20,095
Benefits £3,562
iii. The President receives an honorarium fee of £100
The financial information above is extracted from the full financial statements of the Union for the year ended 31 December 2010. The auditors have reported on the full financial statements of the Union for the year ended 31 December 2010 and their auditors' report was as follows:
INDEPENDENT AUDITOR’S REPORT TO UNITED ROAD TRANSPORT UNION
We have audited the financial statements of United Road Transport Union ("the Union") for the year ended 31 December 2010 which comprise the income and expenditure account, the statement of total recognised gains and losses, the note of historical cost profits and losses, the balance sheet, and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the Union, as a body, in accordance with section 36 of the Trade Union and Labour Relations (Consolidation) Act 1992. Our audit work has been undertaken so that we might state to the Union those matters we are required to state to it 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 Union as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of the executive committee and auditor
As explained more fully in the statement of the executive committee's responsibilities, the executive committee is responsible for the preparation of the financial statements. Our responsibility is to audit the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the union's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the executive committee; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the annual report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
In our opinion the financial statements:
give a true and fair view of the state of the Union's affairs as at 31 December 2010 and of its income and expenditure 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 Trade Union and Labour Relations (Consolidation) Act 1992.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Trade Union and Labour Relations (Consolidation) Act 1992 requires us to report to you if, in our opinion:
the trade union has not kept proper accounting records;
the trade union has not maintained a satisfactory system of control over its transactions;
the financial statements to which this report relates do not agree with the accounting records; and
we have not received all the information and explanations which, to the best of our knowledge and belief, were necessary for the purposes of our audit.
PKF (UK) LLP
Statutory auditor
Manchester, UK
17 August 2011
It is also a requirement of the Act that the following Statement is included for the information of all Members:
"A member who is concerned that some irregularity may be occurring, or have occurred, in the conduct of the financial affairs of the union may take steps with a view to investigating further, obtaining clarification and, if necessary, securing regularisation of that conduct.
"The member may raise any such concern with such one or more of the following as it seems appropriate to raise it with: the officials of the union, the trustees of the property of the union, the auditor or auditors of the union, the Certification Officer (who is an independent officer appointed by the Secretary of State) and the police.
"Where a member believes that the financial affairs of the union have been or are being conducted in breach of the law or in breach of rules of the union and contemplates bringing civil proceedings against the union or responsible officials or trustees, he should consider obtaining independent Legal advice."
By order of the Executive Committee
R. F. Monks
General Secretary
The United Road Transport Union
Almond House,
Oak Green,
Stanley Green Business Park,
Cheadle Hulme, SK8 6QL
