CAUSEWAY TRUST Trustees. Annual Report (Incorporating the Directorfs Report) Period from 1 Ja nuary 2022 to 31 Dernber 2022 The trustees, present their report and the financial statements of the charity for the period ended 31 D&2mkH2022. Reference and administrative details Registered charity name Causeway Trust Charity registration number Nfc107363 Gompany registrats.on nurnber N1657534 Principal office 55 Seagoe Road Craoavon BT63 5HW Northcm Ircland The trustees Mrs Palriaa Lorraine Evans Mr Morris Evans M• G¢rnrna Cvans Mr Glenn Evan5 Auditor McGuire + Farry Linited Charteied Certffied Accountants E[son House Canyduff Beifasl BT8 8DN
CAUSEWAY TRUST Trustees, Annual Report (Incorporating the Directorfs Report) Period from 1 Jan uary 2022 to 31 December 2022 structure, governance and management Causeway Trust was established on 28 June 2019 and has four trustees. It is governed by it's Articles of Association. As the first significant donation made by the charity is in the field of medical research the Trustees have taken independent medical advice from a recently rets'red Senior Surgeon who specialized in cancer surgery The r.harity is currently in the process of appointing this medical expert as a trustee. The trustees take advice from financial, propety, legal and medical experts on a regular basis. The charity has no employees. Objectives and activities Achievements and perfomiance The charty has invested in a significant retail investment property in City Centre Belfast. This investment should generate net annual rental income in excess of £500K per annum. During the current year Causeway Trust agreed to make a signrficant donation of £1.6M over a four year period to Queen's University Belfast (QUB). This donation to QUB will be used to establish a clinical research facility at the Patrick G Johnston Centre for research. The facility will be named "The Prostate Cancer Centre of Excellen.. It is anticipated that the work carried out at the facility will benefft men and their families who are facing their own very personal prostate cancerjoumeys. The Prostate Cancer Centre of Excellence will link world Glass research at QUB with clirsical trials at Belfast Health & Social Care Trust and the Northern Ireland Cancer Centre.
CAUSEWAY TRUST Trustees. Annual Report (Incorporating the Director's Report) Period from 1 Jan uary 2022 to 31 December 2022 Plans for future periods It is anticipated that the £400,000 annual donation out of annual surpluses to QUB will absorb the vast majority of annual surpluses for four years. Financial Review The financial results of the charity are disclosed on pages 9 to 22 of the financial statements. The Lliarity has generated a surplus for the year of £351.234 (2021= £7,950)- An initial donation of f_100,000 was made to QUB to fund the Prostste Cancer Centre of Excellence. The charity's total assets at 31 December 2022 were £8,900,974 (2021'.£8,549,740. Liquidity as defined by Net Current Assets was £1,053,627 (2021: £8,549.740). Reserves Policy It is intended that the charity will fund foreseeable charitable donations from within the annual investment income surpluses, thus maintaining reserves to generate income available for distribution for charitable purposes for future years. Statement of Trustee Responsibilities: The Trustees who are also directors for the wrposes of company law, are responsible for preparing Ihe Injstees. report and the financtal ststements in accordan with applThble law and United lfjngdom Accounting Standards (Unrted lfjngdom Generally Accepted Accounting praCe). Company law requires the charity twstees to kyepare financial statements for each year which gNe a true and fair view of the state of affairs ofthe tharitable company and the incoming resources and application of sourCes, induding the income and expendrture torinat penod. In preparing these finanrial stalements, the trustees are required to.. Select surtable accounting p)licies and then appty them consislenty., Observe the methods and principles in the applicaNe CharilKQS SORP: Make judgements and accounts'ng estimates that are reasonable and prudent,. State whether apFlicable UK Accounbng Standards have been followed. subject to any material departures disclosed and explained in the finanaal statements. Prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charty V1 continue in business.
CAUSEWAY TRUST Trustees, Annual Report (Incorporating the Directorfs Report) co nti n u ed Period from 1 Ja n uary 2022 to 31 Dernber 2022 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that.. So far as they are aware. there is no relevant audit information of which the charity's auditor is unaware: and They have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infomation and to establish that the charity's auditor is aware of that information. The trustees. ann and signed o reporqand the strategic report were approved on 28 September 2023 ehall of he board of trustees by: Mr Morris Evans Trustee