Registered number: N1070062 IIMRC Charity niimber: XT5406 Charity Commission (Northern Ireland) number: NICIOS839 The Mcclay Foundation (a company limited by guarantee) Annual report and financial statements for the year ended 30 September 2023 The Mcclay Foundation (a company limited by guarantee) Annual report and financial statements for the year ended 30 September 2023 Refcrence and admini.8trative details of the Charity Chairman's rcport Trustees, repoit (incorporating the direclor, s rcport) 3- 14 Independent auditoi's, report to the members of 'l"he Mcclay Foundation 15- 17 Statement of financial activities (incorporating income and cxpenditure account) 18 Balance sheet 19 Cash flow statement 20 Notes to the financial statenients The Mcclay Foundation (a company limited by guarantee) Reference and administrative details of the Charity TrusteeslDirectors Company secretary A l) Anmstrong T Scott The Mcclay Foundation Lorporate l i'ustcL l.imited (Directors listed below) A D Armslroiig S Lampbell J Irvine C Ilayburn (resigned l Jaiiuary 2023) I Iluddleston P Diainond D Llements 11 £t¢v¢n%on ,: McAllistei' N Flarkin K Stephens G McBurney (appointed l October 2022) C Ilayburn (resigned l January 2023) Ilegistered officelPrincipal offlce Banker5 Altna¢ I louse 20 Seagoe Industrial 14.slate Craigavon BT63 5QD Danske Bank Don¢gall Square West Beltast BTI 6JS Independent auditors HMRC Charity number Pricewaterhou5eCoopers l.l.P Chiiriered Accountants and Statutory Auditors Merchant Sqiiarc 20-22 Wellington Place Belfast 13TI 6Gt.t XT5406 Charity commission (Northern Ireland) number NIC105839 Solicitors 3DB Pilmans Solicitors ()ne Barlholomcw Close l.ondon F.C I A 7BL. Registered numbcr N1070062 The Mcclay Foundation (a company limited by guarantee) Chairman's report for the year ended 30 September 2023 The Mcclay Foundation has Tecently prepai'ed a new five-year strategic plan (2022-2027) to follow th¢ previous plan agi'eed by the Trustees in 2016. 'rhe Trustee% have identified four sli'ategiic areas of foeus". Innovatioii Research a¥Jd developinent of new m¢dicin¢s. Oncology res¢arch- targ¢ts and bioinarkei's. Digniiy and Compassion Research led care for those in end of life, or l ife limited circuinstances. Ilealth and Wellbeing - Activities to promote health and w¢llbLing in disenfranchised communiti¢s and gcograpliical areas in the developed and the developing world. This report illu%trates the work we have done this year to dcihonstrilte oiir long-lerm commitinent to the principal objectives of I'he Mcclay Fouiidalion and oui. desii-e to iipholil Sir Alleii Mcclay's wishes by continuing his legacy and vision to Inake a iiicaii ingful conli-ibulion to l)uinan hLalth and WLllbeing, worldwide. The work of ihe M¢Clay Foundation in the year ended 30 .%epieniber 2023, working with Inany and varied partners to achieve its aims and objectives, has resulted in significant and measurable bcnefit to ihe health and wellbcilig of niany in society. Alan Annsti'ong Chairman I￿ J %JL4 The Mcclay Foundation (a company limited by guarantee) Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) The Tiu.4tee8, who are also directors of the charitable company for tl)e purpose of the Companies Act 2006. pres¢nt their Annual reijoit and the audited financial statements for the year ended 30 September 2023. This report coI)stilutcs tlie Trustees, Report required under the Companies Act 2006 and thL' C,haritlLS Act (Nortlien] Ireland) 2008. The 'frLislees liave adopted the provisions of the Companies Act 2006 and Accounting aiid Repoi'ting by Cliarities.. Stateinent of ReLoTnmeiided Practice applicable to charities pi'eparing their financial slateinents in accordancc with the financial Reportiiig Standard applicable in the UK and R¢publi¢ of Ireland (P'RS 102) effective l January 2015 {Charilies SORP (FR.8 102)). iii preparing tlie Annual report and financial stale111ent5 of the charity. Reference and administrative details of the charity, the Trustees, and adviso The Trustees of the charity are listed on page l. The principal and regi8tered office of the charity is also listed on page I together witl) details of th¢ profcs8iunal advisers and bankers. Structure9 governance and management I'he Mcclay l.oiindation ("Ihe charity" or"Ihe Foundation") was inCo￿Oraled as a company liinited by guarantee on 31 July 2008. Tlie coini)any is exempt ui)der this legislalion froim using "limited" as part of its name. It does not liave a sliaie capital and the liability of each inember to Contribute lo the assets of ihe company is liniited to £1 . The charity registercd with the Charity Commission in Northern Ireland on 22 June 2019, registration numb¢r NIC105839. The charity is registered with the Coinpanies Regislrar registration nuinber N1070062. It is also recognised as a charity by IIM Revenue and Customs ("EIMRC"). XT5406. Governance The role of the Tn15tees is to ensure that the cliarity is effeclively governed. to ensure thai the charity complies with all relevant legislation, ils own Articles of Associatioii and the requirements of good practice- and 10 ensure that the Charity works to agreed strategic and operational plans. Tl)e cliarity's governing doculneiils are the Articles of Associatioij (as amend¢d iii 2018) which assist tlie Ti'ustees in the Inanagemenl of the charity. The Aiticle5 of Association i'equir¢ tliat a Trustee sliall hold office until the ¢nd of the Annual General Meeting held nearest in tiine to Ilie third anniv¢rsary of his el¢Ltion. One third or the nearest to onc thii-d, of "fnist¢es must relii'e at each Ai)iiual General Meeting, thos¢ longest in office retiring first. A Trustee retiring by i-otation shall be eligible for re-election. This is approved by a majority Vote by the Trustees at the Annual General M¢¢ling (in their capaciiy as coitjpany imembers). Tlie Foundation ensures all ils Truslee% are trained under the various regulations. Risk management Tl)e I ruslees have actively reviewed tl)e major risks, busiii¢ss and operalioiial. that tlie cliarity Inay t.acc and coiifirm that systems have been establislied to miligate SI￿77r]cant i'isks, Appointment of new Trustees New Trustee5 are i'ecruiled by open recruitinent by existing T￿slee5 to fulfil specific role8 on the Board. T]ic potential trustee is then intei'viewed by Ihe Board I'egdrding their willingness to beconie a tru%lLe and their poieiitial contribution lo IhL J.oiindation is considei'ed. Policy for tlie awarding of granls 11)e Fouiidation's grant progr￿1]ineS are approved by I rustees. All prograinmes involve an applicatioii proce.ss. Applicaiions are assessed by tlie I nistees, including robu.%t Hk8essnicnt of guvernance. l.'inal approval is sought at boai'd Imcetings before decisions are .shared ivith applicai)Is. l-he applicants must sign lip to Tenns & Conditions before funding is i-elcased Vid bacs payinent. All tyranlees must complete an ¢valuation r¢port, outlining expenditure, perforiiiaiic¢, and iinpact on at least an dl)nual basi5. The Mcclay Foundation (a company limited by guarantee) Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) (continued) Objectives and activities Our Vision- To make ineaningful iinproveinent and advanceinent in human Iiealth. Our Mission - To support those involved in advancinLY biomedi¢al res¢ai'ch, huinaii healih, and wellbeing around the world. Tlie objeclive5 of the charily as laid out in tlie Charity's governing docuinents are.. the relief of poverty, unemployment and financial hardsliip by the ¥eration and promotion of etnployment opportunities for the people of Northern Ireland- the advancement of health and healthcare by the support and encouragement of research and innovdtion in the field of healthcare and allied iechnologics the advanceinent ofthe health and wellbeing of all people and specifically thos¢ in poor coinmunities to enable thein to access and benefit from the latest advances in healthcare. tlie prevention, control, and ciire ofdisease by advaJicing the use of diagnosiic tools and driigs: and to support and proinote such educational purposes as the .5 rustees shall select, provided alway% that such purposes sha51 be exclusively charitable in law. (iuidin Priii¢i les The Trustees of the Foundalion have agreed to the following guiding principlcs to enable the Foundation to achieve its charitable purposes, The Foundation will pursue strategic activitie5 which deinonstrate: Meaningful support that will enable tl)e organisation andlor projcct to advance its objectives significantly and, 5imullaneously, advance the charilabl¢ purposes of ihe Foundation. A benefit that would not othenvise have been realised by th¢ organisation, but for the support provided. Support for Nl based organisations and/ or pi'ojects, where possible. The main aclivities undertaken in relation to these objcctives are outlined wiihin the achievements and pcrfonnance section. 1'1ie F oundation's activities do not include social investmenl or tl)e engagemeE)t of volunteers to nieet the foundation's ¢haritable objectives, Aehievemellts and Performance Strate ic F ocus Areas Thc Trustees have agreed to apply these guiding principles to the following strategic area5: l. Innovalioii - Research and development of new medicinls. 2. Oncology research . . I"arg¢ts and bioiDarkers. 3. 1)ignity and Conipassioii - Res¢ar¢h led care for those in end of life, or life limited cirLuinstaiices. 4. FIealth and Wellbeing Aetivities to promote health and wellbeing in disenfrallchised com]￿UnitI¢S and geographical areas in tl)e developcd and Ihe developing ivoi'ld. I. Ip7novalion - Re.sLarch and DevL?lo Inenl o NL?i¥ Medicines 'riie l.-oundation liold own5 tlie Alinac Group ('"Almac" or'thc Cjroup") and Inoi)ilors the activities ofthe (iruup Lnsuring it adhei'es to, and delivers on, tlie cliaritable objectives of the l oundalion. 'I'he overriding obJectiv¢s of Almac ar¢ to.. adliere to and dL'liver on 11)e charilable objectives of 'lhe McLlay I,'oundatioii ultimately benefit the wellbeing olpatients throutsh the I'esearch and developmeiit of n¢w Inedi¢iii¢s; und dcvelop and expand a world class Group of conipanies operating In the Ph￿IllaCeUtICal and Biotech sectors. The Mcclay Voundation (a company limited by guarantee) Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) (continued) l. Jnnovation - Re.geurch and Dei?elo menl o New Medicines ontiniied -riiereby advancing Sir Allen Mcclay's legacy and liis vision for 'fhe Mcclay Foundation lind its charitable purposes, Almac's Strategic Goals include: reinaining privately owiied by l-hL Mcclay I'"oundation' continuing Group wide innovation. achieving bes1-in-Llass bu8iness offerings- cultivating a desirable place to work. ¢nabliiig the latest healthcare advances to be available to all- continuing the gencratioii of employinent opportuniti¢,s and providing skills training for the people of Northern Ireland. and maintaining and iinproving profit margins to incrcase the ainount available for reinv¢stinent into the work of Ili¢ Almac CJroup l.imited and, by extensTon. the charitable objectives of The Mcclay Foundation. Aetivities and Impaet Almac Cyroup The Alinac Group is an established contract development and maniifactliring organisation which provides an cxtensive range of integrated service5 acr055 the drug developnienl lifecycle lo the phannaceutical and biotech sectors globally. Tlie Almac Group has continiied to grow ils einployee base lo approximately 7,000 people and hds contributed lo over 700/0 of US Food and Drug Adiniiiistration (F DA) approved new moleLular entities (NME5) in the last 3-year period as the Group coiitinues lo work with all lh¢ top 2.5 BioPliarma COTnpanies globally in the developnient of new medicines. The Alinac Group is eomprised of a number of busin¢8s units. each of whicli contribiites to Ihe advaticemei)t of Alrnac's Strdlegic Goals and lo ihc r¢.%earch and (ievelopmetst of new medicines. Almac Discovery is an independent, res¢ar¢h driven dnig discovery company, dedicated to the devul<)PlllLlIt of novel Rnd innovative Ih¢rapeutics. Alniac ScienLe% provides integrated serviLes froin dLvelopment to cominercial scale maniifdLlurL ()fadvanced ii)lermLdiates and Active Ph(Irmaceiitical Ingredienls (API). Almac SLiLllLL'% pr()vidLts d ranbYL nf 4LrviLLS for sinall 11)olecules and peptides and appli¢s iniiovative biocatalysis and technology solutions which contribute to cost and time savings for ils ¢lienls, Almac PhArma Serviees provides expert pharmaceutical drug product developl￿ent aiid i)ianufacturin&i soliilions, supporting all phases of ¢lini¢al trials, Ihrough product launch aiid ongoing supply. Almac Dlagnostics Strvices is a global stratified medicine company splcialising in biomarker driveii cliE)ical Irialg. Almac Diagnostics S¢rvice.s is foeiised on tl)e discovery, developincnt and coininereialisation of diagnostic and Companion diagnostic tests. Almae Clinical Serviee5 is recognised as an innovative, globAI solutions pi-ovidei- within the specialised and coinplex markel of Clinical Érial %upply. Alinac Clii)ical Services, integrated and #daptable 501utioiis offer the inost flLxible approacli to support tlie delivery ofglobal ¢lini¢¢il trials from protocol right through to patient delivery. Alma¢ Clinical Technologies is a global provider of Interactive ResponsL Technology (IRT} aiid expert con.sullaiicy for the biophamiaceutical industry. empowei'ing clinical trial sponsors to piY>- aclively manage siles, paliejits, and clinical supplies througjh our indu51ry'.leadiiig technology s()Iiitions. Galen develops, Inarkets and s¢lls a wide range of branded and genertc pharinaceuticals tuid nedical nutrition roducts. The Mcclay Foundation (a company limited by guarantee) Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) (continued) Almac Group (continued) From a retsearch and devclopment perspective, companies wiihiii th¢ (Jroup have b¢en eiigag¢d in the following actiwities ovcr the pa%t 12 Inontlis- Alinac Discovery's potei)t Wee l iiihibitoi. moved into Clinical Phu,%e Almac Discovery's AKT inliibitor Illoved into Clinical Phase Almac Discovery performed extensive work on DIJB targets and Pi-olein l)rug Conjugate5 Alinac Sciences grew its neo peptide busii)ess, thus Lnabling ils customers to develop personalised cancer vacciii¢s. Alinac Science5 has Inaniifactured >12,000 peptides for approxiinately l 00 patienls and 6 clients. Alinac Sciences developed, manufactured and supplied 2 m¢ti'i¢ tonnes of a kLy ingredients (an iMmobTlised enzyme) for use in a product used to treat paediati'ic patients and aduli palients with short bowel syndroine. AITnac Pharina Services supported phann145 publicalions? patents and paleiit applications. Most recently.. RAI.B CyTPase: a critical re ulatoi. of DR5 ex ression and TRAII. sensitivi in KRAS mutant colorectal canc¢r Khawaja, I lajrah. Campbell, Aiidrew; Roberts, Jainie /,.. Javadi, AriMan- O'Reilly, Paul; M¢Art, DaiTagh; Allen, Wendy l.. Majkut, Joanna- Rehin, Markus. 13ardelli, Alberto; el al. Cell Death & Disease (2022), 11 {10), 930. Pagc, N., Wappett, M., O'Dowd, C.R. cjl al. Ideiitification and developinent of a subtype- selective allosteric AKT inhibitor siiilable for clinical developinent. ,gci Rep 12, 15715 (2023). https:Ildoi.orgllO.10381s41598-022-20208-5 Talks and Teaehiiig SCI Online lecture series: Invited lectur¢.' Ventures in New Target Space: Drugging the DUBS- Oct 2022 Translational ReseAreh: froin Concept to Commerci21is8tion (MRF.S) Teaching. QUB. October 2023 . 1.ecture'. Jhe Drug Discovery aiid Developi)Jent Process SSC Module in Translatlonal Medicine"From Bench lo Bedside and Back>* Teaching for 2nd year iTr¢dical 5tudenls, October 2022 - I,ecture: Drug Discovery Career5 Talk, QUB PostgraduAte Studeiits,"Careers in the Pharniaccutical Industry" May 2023 Grants: Small molecule inhibitors of ihe anti-apoptolic protein ri.lp for the treatsnent of cancer, Wellcome I"rusl Seeding Drug Discovery Award, 2015, £5,600,000 - 4-year progyaiiinie indepLndent of Alinac (co-Pl) June 2019 - Centre of l=.xcellence for Ubiquitin Drug Discovery, £5.1 M liivest Noitheni Ireland grant (Pl). BREATII, (Border aiid Ilegions Airways Training Elub) Post-Doctorate Researchcr I Research I".ellow has funded under the Luropcan lJnion's INI'I.;RRF.G V A Programme (ca. £IOOK, PI) Ii)novation Scholar- IUK funded.. working with Prof. Dan l.ongley Innovation Scliolar- IUK funded: working witli Dr Jam¢s Reihill Joint Supervisor (with Joanna McCTouran, 'frinity College. Dublin) for 2 year EIE.'A Funded North Soutli Project: 'Snapsliot'. l arget engagenieiit assays - a radical approach to capture a snapshot of probe-enryme bii)ding" _ C200K Lo-Applicani for Nl Strengtl) in Places bid. Future Mediciiies Institute" (£14.5M programi))¢, pending) Co-pi for BBSRC"Prosperity Partnership" bid. E4 Stablishment of a Nl Cenli-e of b.xcellence for Proteomics" (£5.2M pi'ograinine, pending) The Mcclay Foundation (a company limited by guarantee) Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) (continued) QUB- £151,040 (continued) Panel Jnembership: Panel rneMber- Medical Research Council {MRC) Developmental Palhway Fundriig Scheme (Dpfs).. Jan2022 - Panel member- Britlsh Ileart Foundation (BHF), Translation81 Award5 C4bmmiltce.' Nov 2023- Panel member.. QUB Research Innovalion and Translation Coiiiinittee Chair- QUB MRC Fuiider Liaison Grovp (Sept 2022 -present) Ad-hoc member of MATRIX panel- reviewed Nl Cily Deal and Strength iii Places bids PhD Supervisor for 4 PhD Student8 TACT Marie Curie l.iTN.. Joint PhD sup¢rvisor for Thoinas Favrdud, 3-year progrEunJne (with G Cotton) Joint PhD Supervisor (with Simon McDad¢) for Mark Wappett: Mark is undertaking a PhD by publication in bioinfoni)atics. This is a fiist of its kind at QUB and will provide a blueprint for others wlio want to follow this route. PhD Supervisor for l.auren Proctor.. Lauren is undcitaking a part time PhD in medicinal cheinisiry at QUB whilst working at Almac Discovery PhD Supervisor for Patrick Preston (joint with K Savage)-_ DfE funded 3-year studentship "Understanding the role of ubiquitinatioi) on STING-medialed immune regulation following DNA damage" Charitable Colltributions Board member: W5, Odyssey Trust: W5 is an award-winning interactive science and discovery cenli'e based al the Odyssey, Belfast. As a charitable orgaiiisation, ils Inission is to proinole science and technology to children and their parents. W5 is one of 5 scieiice centres who in Augusl 2017 wei'e awarded a sliare of £13M from Wellcome Ti'ust113E". IS Iiispiring Science Fund following a successful competition bid, Prof¢550r Ilichard Kenned Mccla Chair in Medical Oncolo Research/Scholarshi 2022-2023 C.o-princiiJal ii)vesligalor for the Stratified M¢diLine Cjroup al Queen's University Belfast, rocussing on Ilioi￿arker discovery and development to guid¢ i)Ircision rnediciiie 6 published peer i'evTewed papers (in Clinical Cancer R¢searcli. Cell Death Discase, Caiicers, Science Reports, NPJ Breast Cancer, Cornputational Structural Biotechn(ylogy) (irants: Co-applicant on Belfast l-Reach bid £5.OM 2. Co-applicant on Northern Ireland Slrength in Place% Seedcorii £50K Co-applicant on Wellcom¢ Trust ¢-Fl.IP sludy £50K 4. Co-applicant Nl CR-UK I."CMC Centre.. £l.OM 5. Co-applicant on Stren&)th in Places Future Medicine ln51itiite £5.OM (pending) Chair of R¢scarch Loininittc¢ coniini%sioned by Dept of F.conoiiiy to establish Nl l.ile and Ilealth Sci¢nces I",co.%ystLm around Ciiy and Regior]al Growth Deals. The Mcclay Foundation (a company limited by guarantee) io Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) (continued) 2, C)ncolo RL'3earch - Tar ets and Biomai'ker Lonlinucd QUB- £151,040 (coiitinued) Teachin 2022-2023 Tutor 2nd Yeai. SSC Mediciiie"fr()m B¥nch to Bedside" MI,'D2016 Masters cours¢ l¢¢turer MRF.S SCM7075 Masters course lecturer PhD primary sup¢rvisor 3 sludents, secondary 2 students Supei'vision l Bsc and l Msc Student QUB Supervision l Msc Student Royal College of Surgeons Dublii) E."acully Mentor for Icctui'crs; Dr Bob l.adner, Dr Yaser Atlasi, Dr Aid¢n Cole. l)r Sandra Van Shaebroeck and Dr F.Mma Kerr Academic Panels 2022-2023 Member of Nl MATRIX panel Meinber CR-UK New Agents Coinmitlee Meinber of Nl Lonsortium for COVID-19 Testing Member of (h¥ Faculiy of Phari?)a¢eulical Medicine Oncology Advisory Board Member ofNCRI Conference Organising Committee for Nov 2023 Meinber of Patrick G Johnston Cancer Centre Senior Mana ein¢nÉ Team 3.Di and C.'om as&ion - Research Led Care or Those in fnd o e Limited Cii"¢umsiances Strategic Aims I, To ensure everyone has access to good quality end of life care, regardless of Ihcir circumstances, age, disease, or culture aiid wherever their place of care. 2, To provide quality of life, positive outcomes, and experiences to those in end-of-life care. 3. 10 provide care and support for life limited children, currently identified as being severely lacking in Northern Ireland. 4. 1 o support thos¢ oi'ganisations wlio provide holistic care, Iiieeting people's physical, emolional, social, psychological, aiid spiritual needs, in end of life and life liinitcd circumstanc¢s. Aetivitses and Impact Buddy Bear Trust £ioo,000 Partnering willi the Buddy Bear Trust School in Dungannon whicl) provide8 condiictivc cdiication and siipport for cliildreii siiflering froin ccrcbral palsy and i)thL'r Inolor (li%oi'dLrs iii siipport of ils l.if¢tiine of Difference (pliase 2) project. Nl I lospice £ioo,000 Siipporting Northem Ii'cland Ilospice as it employs nurses to providL palliative care to patients in tl)eir own l)oiMes as i)art of tlie hospice's higli-quality, lioli.%tic end-of-life care whicl) enabl¢s patients lo have the (IPPTopriate support to reinain at home as Ihey approach the end of life. Lope Cliildrens I'rusl, known a% Rainbows IlospicL' for CliildreE] and Young l)eople £10,000 Contributed toNvards tlie cost of a 'Sunsliine Coach, to ertablc tl)e l)osptce to facililale day trips and othei. excursions for childrcn and young people who are seriously ill, and the cost of iinproveineiits in faiiiily a¢cominodation at the liospice whicli is available to parents when their cliild or young PLrson is in residencc. Flolidoy Ilungei. and Get AclivL £25,000 Supporting Children in Northern Irelaiid (CINI) in ILS 'lloliday Ilunger, and 'GeÈ Active, Prograinines Kvliich aim to en¥ttage children and young people. ordinarily in receipt of free s¢liool meals, dui'in(F holiday periods. CINI'S prograiJ)Ines seek iu addiess issues faced by young p¢opI¢ includin f(iod poverty, ediicalional iinderachieveineni and hcaltli and w'ellness through the pi'ovision ()f Iiutritious meals, physical activity s¢s%ioiis and learning-based aLtivities. The Mcclay Foundation (a company limited by guarantee) 11 Trustees, report for the year ended 30 September 2023 (incorporating the Director's report) (continued) 3.Di nil and C'om COF21inued a3&ion - Res'earc'h Led Care or Thotse in I,ndo e I.imilLd Cii'L'uni.5'1ance.s' "riends of Parkview Special School £2,750 Assisted E,"riends of Purkvlew Special NLeds School in Lisburn, North¢iM Ireland witl) its recent summer activity scheme. Friends of the Cancer L¢ntre £70,000 Supportiiig Friends of the Cancer Centre to fund an additional clinical nurse specialist and also supporting ils financial grant prograillme which secks to mitigate some of the potcntial financial in)pacls on paticnls receiving cancer treatment. Young l.ive5 v Cancer £25,000 Coiilribuling fiindiiig iowards Young L.ivcs v Cancer's 'Floine from Ilome, project u,liich offers ac¢oininod¢iLion for parents and siblings close to Belfast City Ilospital and Ihe Royal Belfasl 1108pilrfil for Sick Children, helping lu alleviate tlie addilional fiiianLial burdens of ti'avel, accominodation and food costs often experienced by faniilies when a young person is receiving cancer treatment. 4. To Promole Ilealih & Wellbein in Disen ranchised (.'ommunilies & Geo hical Areas Strategle AIMB To provide holistic coinmunity-based hcalthcare, empowerment, wellbeing, and education lo disenfranchised communities, wheth¢r in the developed or developinE world. 2. To foslei. cffective partnerships and collaborate with NCJOS who are providing individuals with healthcare services and educatioii in disenfraiichised conimunities on a 'bettei' together, basis. 3. To pri)vidL' innovative and responsive solulions to specific health and wellbeing issues in the developing world. 4. l o pi'ovide assistance and 5UPPOrt lo achieve Iiing lasting and significant irliprovement in the hLalih and wellbeing of those living in poverty. Activities and Impact ields of Life £100,500 Supporting F"ields of Life's l AM CYIRI. initiative, whicli ainis to enjpower girls in F.ast Africa to coinplete thLir eduLation and to grow into 51rong. healthy young woinen. By constwcting hy&yiLnic wd.%hrooi)I faLilities al schools, supporting s¢h()ol feeding programmes to encourag¢ %Lhii()I retLntion, and providing training on cliild proleclion and gender eqiiality, l AM (ilRL seeks to reduce tlie barriers to adole5ceiil girls. and other cliildren's paiticipatioii iii educalioii in schools and comixunities in E".ast Africa. Supporting l ields of l.ife's vocational crainiiig institiite scholarsliips to eiiable vulnerable young people to study courses 5ucli a% building cunstruclion. carpentry; lailoring, fashion and design,. and cosiiietology, liair and beauty. I'he young people 5UPPOrted by thes¢ scholarships have the opportunity to learn skills whicli enabl¢ them to secure.jobs, earn a living and have the prospect of a brighier future. Plliladelphia Lducatfton F'.und £15,658 'I'raii) I'O Be Sinajl £37,720 Scholarship to as%ist selected student over the tcrin of iheir studies. 'I'he studenl will be chosen from Unde￿eplesenIed coininunilies in th¢ Phil#delphia Area. Supporting 'frain 2B Smart in NortliLIM Ireland which seeks lo promote the iinproveinent of mental health and wellbeing tlirough sport. T'he Poundati, to continue as a goins concern for a period of at least hfytli'e months from the date on whieli the financial statements are authorised for issue. In audiling the financial slatci)ients, i%'e haip coneliided tliat the trustees, use of the going concern bAsis of accounting in the preparntion of the finaiieial statemellt5 is appropriate. HoW￿,er, because not all future eNents or covjdilioiis can be predicted, this conclusion is not 8 guarantee as to the charitable coinpaii} s abilil}' lo contiiiue. as a 8Ding concern. Our responsibililies and the ￿pOnsibIlitieS of the trustees wTrth Tespeet to going concern are described in the relevant sections of this report. Reporting on other infomation The oiher information comprises all of the infomiation in the Annu31 Report other than the financial statements and our &iiditors' report thereon, The triislees are rcsponsible foT the other inforniation. Our opinion on the fInanci¢l1 statements does not coi'er the other infonnalion and, accordinglv. we do not express an alldit opinion or, except to the extent othenyise explicitls. stated in this report, any fi)rm of assuranc￿ thereon, In Connection ￿Trth our audit of the financial statements, our responsibilit). is to read the other infonnation and, in doing so, consider M'hether the other information is materially inconsistent iiith the financial statements or our knioi¥ledge obtained in the audit. or othenlise appea￿ to be materialls. misstated. If li'e identify, an apparent material illconsistenc}' or material misstatement, we are required to perform procedur&8 to conelude ii'hether there is a material M￿latement of ihe financial statements or a material misstatement of the other informntion. If, based on the ii'ork lie hai'e performed, lie conclude that there is a vnaterial misstatement olthis other information, li'e are required to report that fact. Mfe haNe nothing to report based 011 th￿ responsibilities. Tith respect to the Trustees, report, lie also considered w'hether the diselosures requÉred b) the UK Companies Act 2006 aThd Charities Act (Northern Ireltsnd) 2008 hal'e been included. The Mcclay Foundation (a company limited by guarantee) 16 Independent auditors, report to the members of The Meclay Foundation (continued) Reporting on other Inforn￿tion (Continued) Based on our work undertakeTh in the Course of the audtt, the Companies Act 2006 requires us also to report ￿rta1Th opinions and matters as described belom,. Th￿tee$, report In our opinion, based on the w'ork undertaken in the course of the audit the inforniation gii'en the Trustees, retnrt for the period ended 30 September 2023 is eonsistent ilryth the financial ststements. and the Trustees, Annual Report has been prepared in accordance ivith applicable legal requirements. In light of the knom'ledge and understanding of the charitable company and its environmeiit obtained in the e0u￿e of the audit, M'e did not identify an). material misstatement8 in the Trustee5' report. Responsibilities for the financial statements and the Audit Responsibilities of the trusteesfor thefinancial statements As explained more fully in the Slatement of Trustees, Responsibilities, the trustees (w'ho are also the directo￿ of the charitable coiiipai)J' for ihe purposes of c'onipan) law) are responsible for the prepaTalion of the finai)L'ial siateineiits in aecordanee with the applieable framework and for being satisfied that they sii'e a true and fair iryew. The trustoes are also responsible for such internal control as the), determine is necessaT)' to enable tlie preparalion of financial slatemeiits that are free froni niaterial misstatement, M'hether due to fraud orertr)r. In preparing the financial Statements, Ihe trustees AIE responsible for assessing the eharitahle compan} s ability to eoiilinue as a going concern, diselosing a5 applicable, matters related to going concern and using the goin8 concern basis of accountiiig unless the trLlStees either intei)d lo liquidate the charitable eompany or to cease operations, or hai'e no realistic alteri)atii'e but to do so. Auditors, responsibilitiesfor the audit of thefinancial statements Our objeeti1￿ are to obtain Teasonable assurance about whether the financial statements as a M'hole are free from material niisstatement, M,hether due lo fraud or ei'roi,, and to issue an auditors, report that includes our opinion. Reasonable assurance is a high I￿,el of assuranec. but is not a guarantee that an audit conducted in accordance Mqili IS￿% (UK) Mill alwa}'s deteet a malerial n)isstalenient M'hen it exists. Mi&8tatements exn arise. from fraud or error and are considered material if, indiiiduall}' or in the aggregate. they could reasonabl}, be expected to influence the economie decisions of users taken on the basis of these financial statements. Irre8ularities, tneludins fraud. are instLnces of non-compliance witli laws and regulations. We design procedures in line Mith our re.qponsibilities, outlined abm'e, to dcleet material misstateme.nts in respcct of irregiilarities. including fraud. The exteiit lo which our pri)eedU￿S are cthpable of delecting irregularities, including frdud, is detsiled below. Based oil our uilde￿laI1dIllg of the charitable eompaiiy and ils eniir()nment, ive identified that the prii)cipal risks of non- compliaiice with laii's and re.gulMtions related to Cliarities Ac.t (Northern Ireldnd) 2008 aiid we coi)sidcr¢d the extent to which non-compliance might have a material effect on Ihe. fiiianeial 8tatements. We also LY)nsidcrcd those laws and regulations that hai'e a direct impael on Ihe. financial slatements suLh at> ihe Coii)paiii(s A¢t 2006. We evaluated manxgement's inceiitii'es and opportunities for fraudulent manipulatlOlL o( thL fiiiaiicial statcnients (including the risk of oi'e.rri(le of contn)ls), and detemiined that the principal risks w'ere related to the posting of inappropriate journal entries. Audit procedures performed included: Enquiry, of niaiiagement and the board of trustees. including consideration of known or suspected instances pf non- compliance ii'ith lams and re8ulations and fraud., Reading minutes of meetings of the board oftnjstees; Understanding and ￿'a]VatIng thecharitable company's control eniironiT]ent', Idelltif)ing and testins journal entries. including journal entries posted M'ith unusual aecount e()mbinations to income or expenditure accounts" and Assessing financial Statements disclosures. and testing to supporting documentxtion, for complian￿ ikith applleable laws and regulations. The Mcclay Foundation (a company limited by guarantee) 17 Independent auditors, report to the members of The Mcclay Foundation (contmnued) Responsibilities for the financia] statements and the audit (contlnued) There are inherent limitations in tILe audit procedures described abost. We are less likel> to become aware of illstan￿ of non- eompliance with laii's arAd regulatioiis that are not closel) related to ei'ents and transactions reflected in financixl statements. Also. the risk of not deteeting a material n)isststeTnÈnt due to fraud is higher than the risk of not detecting one ￿ultIng from error, as fraud ma), involi'e deliberAte conee21ment bs,. for example, forgery, or intentional misrepresentation5 or through collusion. Afurther description of our responsiliilities for the audit of the financial staternents is located on the FRC'S website at: Mwi'.frc.org.uk1audito￿respo￿5ibIll11É.5. This description fornis part of our auditors, report. Use of this report This report, including the opinions, has been p￿pared for and only for the charitable company's members as a b(K]y in accordaiice i¥ith Chapter 3 of Part 16 of the Companies Ael 2006 Rnd (or no othcT purpose. We do not, in giiryng these opinions, acce.pt or as8unie respon5ibilit)' foT Jny uther piirposc or to any other person to whom this report is sliown or inlo whose hands it ma) come Sill'e where expiessly agreed b), oui. prior eonsenl in writing. Other required reporting Companies Act 2006 exception reporting Under ihe Companies Act 2006 Me are required to report to you if, in our opinion: we ha%'e not obtained all the information and explanations we require forour audit., or adequate accountiils Tecords hai'e not been kept by the charitable company or returiis adequate for our audit hai'e not been re￿I%,ed from branches not i'isited by us; or certAin disclosures of trustees, remuneration specified b}, laii, are not made. or the charitable compan> financial slalements are not in agreement with the accounting records and ￿turns. We l)ai'e no exceptions to report arising from this responsibility. Entitlement to exemptions Under the Companies Act 2006 ile are required to report to }'ou if, in our opinioii, the trustees were not entitled lo: prepare financial statements in accordance iiith the sniall eompanie5' regime; tske adi'antage of the small conipanies, exemption in prepariii8 tlie'l'ruste&g' report; and lukL adi'uiilage. ol thc.8mllll eompani&s exemptioii fr()m preparing a Strntegie Report. Wc no exceptions to report arising from this responsibility, Emma Murray (Senior Statulory Auditor) forand on behalfof Priceii-aterhousecoopers LLP Chartered Aceountants and Statutory, Aiiditi)rs Belfast 6 Februaryy 2024 The Mcclay Foundation (a company limited by guarantee) 18 Statement of financial Activities (incorporating income and expenditure account) for the year ended 30 September 2023 Total Uiirestricted funds 2023 Unrestricted runds 2022 Note Incoming resources from generkttd fun(Is Investin¢nt incoine 16,526 500,000 516,526 10,202 20,000 30,202 Donations Tolal incoming resourees Resources expendcd Charitable activities (637,668) (12,407) {650,075) (133,549) {833.128) (26,892) (860,020) (829,818) Cyovernance costs Total resource5 expended Net expeilditure 8nd net movement in funds before gains and losses on investinents Net gAins on investment property assets Net expenditure and net Inovement in funds Totol funds brought forward at l October Total funds earried forward at 30 September 10,000 (819,818) 91,986,945 91,167,127 (133,549) 91,167,127 91,033,578 The slatcmenl of financial activities includes all g8ins and losses r¢cogniscd in the year. All incoine and expenditiire derive rroin coiilinuing activities. The Mcclay Foundation (a company limited by guarantee) 19 Balance sheet as at 30 September 2023 2023 2022 Note Fixcd assets Iiiveslmenls 90JOO,000 210,000 90,510,000 90,300,000 210,000 90,510,000 Inveslinenl property 10 Current Hssets Debtor5.' ainounts falling due within one year Cash at bank and in hand 870 580,238 714,059 714.059 (56,932) 657,127 91,167,127 581,108 {57,530) 523,578 91,033,578 Creditors: amounts falling due within one year Net current a￿setS 12 Net assets The funds of the charity: Unrestricted funds 91,033,578 91,033,578 91.167.127 91,167.127 Total eharity funds I'he financial statements on pages 18 lo 29 were approved by the board of Trust¢¢s on 26 January 2024 and were signed on its behalf by: A D Armstrong Trustee I W Fliiddleston Triislee 1.he noles on pagcs 21 to 29 are an integral part of the financial staieinents. The Mcclay Fouiidxtion Registered numb¢r: N1070062 The Mcclay Foundation (a company limited by guarantee) 20 Cash flow statement for the year ended 30 September 2023 2023 2022 Note Cash tlows from operating activities Net casli uscd in upei'ating activities Net decrease in cash and exsh equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalcnts at end of the year 14 {133,821) (133,821} 714,059 580,238 (8?3.319) (823,319) 1,537,378 714,059 The notes on pages 2110 29 are an integral part of ihe financial staleinents. The Mcclay Foundation (a company limited by guarantee) 21 Notes to the financial statements for the year ended 30 September 2023 Accounting policies General information Th¢ nalur¢ ofThe Mcclay E."oundalion is tliat of a charity, Thc Foundations objectives are, broadly io.. Support and ¢n¢ourag¢ rcsearch and innovation Advance the usc of diagnostic 10015 and drugs in the pi'evention, conlr()l and cure of disease .nsui'e lat¢%t advances in liealthcare available to all, including developing cotintri¢s Cieneratc and promote einployment opportunities Support and pi'oinote such educational putyoscs as tli¢ Irustces tshall ,select, provided that such purposes ghall be exclusively Charilablc in law I"he charity 1% in¢()rporated in the United Kingdom and is r¢gistered in Noi1hern I￿land. The address of its registered orrioe is AlinaL Elous¢, 20 Seagoe Industrial I:state, Craigavon. B T63 5QD. Statement of compliancc The individual financial stateirents of I"he Mcclay Foundation hav¢ been prepared in compliance with Accoiinting and Reporting by Chai'itie5.' Statemei)t of Recominended Practic¢ (8ORP), l.Inile(l Kiiigdoill Accounting Standdi-d5 inclliding rinancial Reporting Standard 102, the Coinpanies Act 2006 and the Charities Act (Northern Ireland) 2008. B&sis of preparalion The financial stalements have been prepared on a going concern basis, under the historic c05t convention, and in accordance WTth Accounting and Reporting by Charities: Sialeinent of Recomm¢nd¢d Practice (SORP) applicable to charities preparing their financial stateincnts in accordance with the F inancial Reporting %tandard applicable in the UK and Republic of Ireland (fRS 102) effeclive l January 2015), (Cl)arities SORP (FRS 102)), th¢ Financial Reporting Standard applicabl¢ in the UK and Republic of Ircland (FRS 102), the Charities Act (Noithem Ireland) 2008 and the Companies Act 2006. The preparation of the financial slateinents requires the use of certain crilical accounting estimates. It also requires manag¢menl to exercise its judgen)er)t in tl)e process of applyiiig the group and charity ¢iLcountin& policies. Manageinent has concluded Ihat there ore no criticttl assumptions, estimates or judgements involving a high degree of jiidgement or complexity which I'equire further disclosui'e as outlined in note 2, I'lie principal accounting policies, which have been applied consistently ihroughoiil the year, are set oui below, Con501idation Tlle Mcclay l.oundation owns 990/0 of the ()rdindry A share capital and IOOO/o ofthe Ordinary B share capilal of Almac Group l.iillited. lhe shal'e capital structure of Almdc Group l.imited also includes a £ I founder shal'e which lia5 veto rights in a nuinber of areas. UndLr Lharity law, tlie Foundatioii is regardcd a5 the conlroller of Almac (yroup Liii)iled which, as a subsidiary of the roiindation, delivers tlie Foundation's chai'itable purposes. Alihoiigh die l-"oundation is the beneficial owner of Alinac (rl'OUP I,iiMited, tlie Trustees do not exercise conlrol for Ilie purpose of Section 401 orth¢ Coinpanies Act 2006. 1'he financial stateinenl8 Ilierefore present infor]t)ation about tlie coinpany as an individual undertaking. Investments Investnicnls in associates Ètre held as non current assets and ar¢ held at ¢osl Icss accumulated impairment losses, An iJnpairinLnl loss is recognised for 11)e aii)ouiit by wliich the &sset'.s canying ainouni exceeds its recoverable amount. Investment properties Investment properties for ivhich fair value Lan be nieasured reliably is measured at fair value annudlly with any change recognised in the statemei)t of financial aLtiviliL'%. Debtors Debiors are initially stated at cost and subsequently staled after all known bad debts have beLn writteF] off and specific provision has been inade against all debts considei'ed doiLbifiil of collection. The Mcclay Foundation (a company limited by guarantee) 22 Notes to the financial statements for the year ended 30 September 2023 (eontinued) Accounting polieies (continued) Incomiiig resource5 All incoining resourc¢s consist of volunlary incoine and inveslinent income and are included in the st8teinent of financial activities when ihe charity is IL'gally entitled to tlie incoine and the ainount can be quantified with reasonable a¢¢uracy. Voluntary Èncome VolLSnlary incoine is incoinc which is received by way of donalioi)s and gift.s lo Ihe charity and is included in full iii the slaleinent of financial activilies when received. Investment Inconie Bank int¢resl and loan interest receivable is included in full in the statement of financial activlties on an accruals basis. Rental tncome Rental income is included in fijll in the stateinenl uf financial activities on an accruals basis. Poliey for the awarding of grants The Fouiidation's grani programmes are approved by Trustees. The Foundation will only accept applications froin registered charilies. All programmes involve an application pro¢¢,qs. Applications are assessed by the Truslees, incliiding robust assessment of governance. F iiial approval is sougl)t at board meeting5, before decisions are sharcd with applicants. 'I'he appliCa￿t'S must sign up to Terins & Conditions before funding is released via bacs payment. All grantees must complete an evaluation report, outlining exper)diture, perforniance, and iinpact on at least an annual basis. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all costs related to Ihe category. fxpenditur¢ relates to Charitable Activities and Governance costs which arc outlined below. Chayitable aetivSties Cliai'itablc expL'iiditure Ll)Inpri.4L8 th(is¢ cost8 inciirre(I by the cliarily in the delivery of its activilies and services for its bciicl Iciaries. ThL%L inclu(IL ()llL()logy research, research led care for those in end of life or life liit]iting activities and activities to pr()IllL)te hLalih dnd wLllbLiiiL? iii di%ci)frai)chised cominunilies and g¢ographiLal areas in the developed and the developing world. Charitable aclivilies are both costs that can be allocated directly to such activities and those cost5 of an indirect natur¢ necessary to supply Ihcm. Governance costs overnanLe Losts are costs associated with general charity advice and governance matters and include those costs incurred in the goveimancc of its assets wliich are associated with conslitutional and statutory requirements, Unre8tYteted fund.q Unrestri¢ted funds are donations and other incoming r¢source% received or gienerated which air expendablc at ihe discretion of the charity in furtherance of Èts objectives. Casli and cash equivalents Cash and cash equivalcnts include cash in hand, deposits held at call with banks. oohei- shori-term Iiighly liqiiid inv¢5tiMcnts with oi'iginal maluritics ofthree illoiitlis oi. less and bank overdrafis. Bank OVLrdrafts, Ivlien applicable, are showi) within borrowings in currenl liabilitie5. Deposits with oi'iLyinal inaturities of great¢r than 3 1)ionths al'e shown as cuiyent a%8et oi. fExed asset investinenLs depending on the date of tnalurity. The Mcclay Foundation (a company limited by guarantee) 23 Notes to the financial statements for the year ended 30 September 2023 (continued) Accounting policies (continued) Financial instruments A financial instruiiient is dny contract that gives rise to a finai)cial asset of 01)e party and a financidl liabilily or eqiiiiy inslruinent f ariother paity. The charity has chosei) to adopt Sections I l and 12 of ]-. RS 102 in respect of financial in%truiiienls which sets oul the requireinents for the rccognition, derecogiiilion, Ineasurement and disclosure of financial as%els and fiiiancial liabilities Finanei218ssets E", inancial assels. including trade and other debiors and ca8h and bank balances, are inilially recognised at transaction pi'ice, unless the arrangemeiit constilute.% a finaiicing ti'ansactioii, where the transaction is measured at the present value of the fiitui'e receipts discounted at a market rate of interest. Such assets arc subsequently carried at amortised cost using the effective interest imethod, At the end of each i'cporting period financial assets measurLd (It amortised cost are asscssld for objLLtive L'vidence or impairn)enl. If an asset is iillpaired tlie iiiipairinent loss is th¢ dillerei)ce between the carrying amount and ihc present value of the estimaied cash flows discounted at the asset's original effective iiiterest rate. I'he inipairm¢nt loss is recogn i%ed iii th e Statement of financiHI activities. If there is a decrcase in the impainnenl loss arising from an event occurring after the iinpairment was recognised the impainrjeni is reversed. The reversal is such that the curi'ent currying ainounl does nol cx¢e¢d what the carrying amount would have been had the iixpairn]ent not previoiisly been recognised. Thc impairment reversal 15 recogni5¢d in ihe Stateinenl of financial aclivilies. Other financial assets, including investments in equity instruments which are nol subsidiaries, associates, or joint ventures, are initially measured at fair value. The quoted market value is used to detemine fair value. Such assets are subsequently carricd at fair value and the changes in fair value are recognised in profit oi'1088, except that investillei)Is in equity instruinents that are not publicly traded aiid who8e fair values cann()t be mea%ured reli