COMPANY REGISTRATION NUMBER: NI 657534
CHARITY REGISTRATION NUMBER: NIC107363
CAUSEWAY TRUST
Financial Statements
31 December 2023
McGuire + Farry Limited
Chartered Certified Accountants
Emerson House
Carryduff
BELFAST
BT8 8DN

CAUSEWAY TRUST
Annual Report and Financial
Statements
Period from 1 January 2023 to 31 December 2023
Contents
Page
Charity Reference and Administrative Details
Trustees, annual report (incorporating the director's report)
Independent auditor's report to the members
Statement of financial activities (including income and
expenditure account)
Statement of financial position
6-10
11
12
Statement of cash flows
13
Notes to the financial statements
14-23

CAUSEWAY TRUST
Charity Reference and Administrative Details
Period from 1 January 2023 to 31 December 2023
Registered charity name
Causeway Trust
Charity registration number
NIC107363
Company registration number
N1657534
Registered office
clo McGuire + Fary
Emerson House
Caryduff
Belfast
BT8 8DN
Trustees
Mrs Patricia Lorraine Evans
Mr Morris Evans
McGuire + Farry Limited
Auditor
Chartered Certified Accountants
Emerson House
Carryduff
Belfast
BT8 8DN

CAUSEWAY TRUST
Trustees. Annual Report (Incorporating the Directorfs Report)
Period from 1 Ja n uary 2023 to 31 December 2023
The Trustees present their report and the audited financial statements of the charity for the year ended
31 December 2023.
Trustees of the charity
The directors of the charity company are its trustees for the purposes of charity law. The trustees who have
served during the year and since the year end were as follows..
Mrs Patricia Lorraine Evans
Mr Morris Evans
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 retired Senior Surgeon
who specialized in cancer surgery. The medical advisor has agreed to become a Trustee. We are also
in the process of appointing a retired Chartered Accountant who also has lived experience of
Prostate Cancer.
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 performance
The charity owns a large commercial building in Belfast City Centre.
This investment currently generates net annual rental income more than 500K per annum.
Currently the building is 78 % occupied and we expect that to increase to 880/0 during 2024.
Having taken professional advice, and to broaden our investment profile. Causeway Trust

CAUSEWAY TRUST
Trustees. Annual Report (Incorporating the Director's Report) co nti n ued
Period from 1 Janua ry 2023 to 31 December 2023
purchased 8 residential investment properties in the Greater Belfast area. This investment totslled
£910K and should provide a net yield of approximately 6 % pa. We have also invested funds with Davy
in secure deposits which produced net retums of £62,338 in 2023.
We believe that we have a balanced investment portfolio which will deliver sufficient
returns to carry out our charitable objectives.
On 21 September 2022, Causeway Trust entered into a gift agreement with Queens University
Belfast (QUB) to fund the establishment of the"Prostate Cancer Centre of Excellence" (PCCE).
The gift agreement totals £1.6M scheduled over 4 years. At December 2023, £400K has been donated
to QUB and at the date of signing this report the total donation to date has been £700K. The PCCE
is now in operation and we believe significant improvements in Prostate Cancer care will result. It is
anticipated that the work carried out at the facility will benefit men and their families who are facing
their own very personal prostate cancerjourneys.
Plans for future periods
It is anticipated that the £400,000 annual donation out of annual surpluses to QUB will absorb a
significant portion of our annual surpluses until 2026. We are currently in discussions with another
large local cancer charity with a view to providing financial support to that charity in the region of £90L pa.
We are also researching, with the valued assistance of QUB, the possibility of acquiring an MRI scanner
from an Indian manufacturer to assist in the establishment of an MRI prostate screening program. In this
regard we have visited a manufacturer in Bangalore with a view to purchasing a new state of the
art scanner.
Financial Review
The financial results of the charity are disclosed on pages 11 to 23 of the financial statements.

CAUSEWAY TRUST
Trustees. Annual Report (Incorporating the Director's Report) conti n ued
Period from 1 Jan uary 2023 to 31 December 2023
The charity has generated a surplus for the year of £276,973 (2022.. £351,234). Donations totalling
£300,000 were made to QUB to fund the Prostate Cancer Cantre of Excellence. The charity's
total assets at 31 December 2023 were £9,117,947 (2022.. £8,900,974). Liquidity as defined
by Net Current Assets was £423,352 (2022: £1,056,627).
Reserves Policy
It is intended that the charity will fund foreseeable charitable donations from within the annual investment
income surpluses, thus maintaining reseNes to generate income available for distribution
for charitable purposes for future years.
ststement of Trustee Responsibilities:
The Truslees who are also directors for the purposes of company law, are responsible for preparing the
Irustees, report and the financial stalements in accordance with applicable law and United Kj'ngdom Accounting StandaTds
(United ￿ngdoM Generally Accepted Accounting Pradice).
Company law requires Ihe charity tNslees to prepare financial statements for each yearwhich give a true and fair
view of Ihe state of affairs of the charitsble compary and the incoming resources and application of resources,
including the income and expenditure for that period.
In p￿parIng these financial statements, the trustees are required to..
Select suitable accounting policies and then appw them consislently.,
ObseNe the methods and principle5 in the applicable Charities SORP.,
Make judgements and accounting estimales that are reasonable and prudent.,
stale whether applicable UK Accounts'ng Standards have been followed, subject to any malerial
departures dI￿10*d and explained in the financial statements-,
Prepare the finan￿al slatements on the going concem basis unless rt is inappropriate lo
presume that the charty will continue in business.

CAUSEWAY TRUST
Trustees, Annual Report (Incorporating the Director's Report) conti n ued
Period from 1 J an uary 2023 to 31 December 2023
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.
Disclosure of information to the 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 ofwhich 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 information and to establish that the charity's auditor is
aware of that infoim
ion.
The trustees, anryual reporfaThd the strategic report were approved on 28 September 2024
and signed o
eh)a fro-f the board of trustees by:
Mr Morris Evans
Trustee

CAUSEWAY TRUST
Independent Auditor's Report to the Members of Causeway Trust
Period from 1 January 2023 to 31 December 2023
We have audited the financial statements of Causeway Trust (the 'charity') for the year ended
31 December 2023 which comprise the statement of financial 2Ctivities (including income and
expenditure account), statement of financial position, statement of cash flows and the related notes,
including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kngdom Generally Accepted Accounting Practice).
in ouropinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 D￿em￿er 2023 and of its
incoming resources and application of resources, including its income and expenditure, for the
year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
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 auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UX, 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 trustees. 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 charity's ability
to continue as a going concern for a period of at least ￿e1ve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described
in the relevant sections of this report.

CAUSEWAY TRUST
Independent Auditor's Report to the Members of Causeway Trust
Period from 1 January 2023 to 31 December 2023
Other Information
The other information comprises the information included in the annual report, other than the financial
statements and our auditorfs report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other infomiation and, ex￿pt to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
infonmation and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other infonnation, 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 the audit..
the information given in the trustees, report for the financial period for which the financial
statements are prepared is consistent with the financial statements. and
the trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the
course ofthe audit, we have not identified material misstatements in the trustees, report.
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 accounts'ng records and returns., or
rtain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the InfO￿atIOn and explanations we require for our audit.

CAUSEWAY TRUST
Independent Auditor's Report to the Members of Causeway Trust
Period from 1 January 2023 to 31 December 2023
Responsibilities of trustees
As explained. more fully in the trustees, responsibilities statement, the trustees (who are also the
directors for the purposes of company law) 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 trustees determine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud orerror.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis ofaccounting unless the trustees either intend to liquidate the charity orto 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 auditorfs 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 reasonab5y be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities. including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, we considered the following..
.the nature of the industry and sector. control environment and business performance including the
design of the remuneration policies, key drivers for directors, remuneration, bonus levels and
performance targets.,
results of our enquiries of management abouttheir own identification and assessment of the risks
of irregularities.,
any matters we identified having obtained and reviewed documentation of their policies and
procedures relating to..
identifying, evaluating, and complying with laws and regulations and whether management were
aware of any instances of non-compliance.
detecting and responding to the risks of fraud and whether management have knowledge of any
actual, suspected, or alleged fraud..
the internal controls established to mitigate risks of fraud or non-compliance with laws and
regulations.
the matters discussed among the audit engagement team including significant component audit
teams "and relevant internal specialists, including tax and valuations specialists" regarding how and
where fraud might occur in the financial ststements and any potential indicators offraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within
the organisation for fraud and identified the greatest potential for fraud. I n common with all audits
under ISAS (UK), we are also required to perform specific procedures to respond to the risk of
management override.

CAUSEWAY TRUST
Independent Auditor's Report to the Members of Causeway Trust
Period from 1 January 2023 to 31 December 2023
We also obtained an understanding ofthe legal and regulatory frameworks in operation, focusing on
provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in
this context included ongoing compliance with the UK Companies Act and tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect
on the financial statements but compliance with which may be fundamental for their ability to operate
or to avoid a material penalty.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonab1 eness of accounting
estimates and related disc5osures made by the trustees.
Conclude on the appropriateness of the trustees, use ofthe going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concerns, If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify ouropinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditorfs report. However, future events or conditions may cause the charity
to cease to continue as a going concern.
Evaluate the overall presentation, structure, and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficienoies in
internal control that we identify during our audit.

CAUSEWAY TRUST
Independent Auditor's Report to the Members of Causeway Trust
Period from 1 January 2023 to 31 December 2023
Use of our report
This report is made solely to the charity'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 charity'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 charity and the charity's members as a body, for our audit work, for this
report, or for the o
inions we have formed.
Keith Mcmanus (Senior Statutory
For and on behalf of:
McGuire + Farry Limited
Chartered Certified Accountants
Emerson House
Carryduff
Belfast
BT8 8DN
28 September 2024
10

CAUSEWAY TRUST
Statement of Financial Activities
(including income and expenditure account)
Period from 1 January 2023 to 31 December 2023
Unrestricted Restricted Total
Funds
Funds
Funds
2023
2023
2023
Total
Funds
2022
Income
Note
Donations
Other trading activities
Gift Aid Reclaim
Other Income
20,000
717,040
20,000
717,040
1,000
487,409
75,000
384
Totsl Income
737,040
737.040
563,793
Expendlture
Expenditure on raising funds..
Costs of other trading activitie5
Expenditure on charitable activities 9
Administralive expenses
10
211,457
300.115
10,833
211.457
300,115
10,833
120,775
100,000
10,955
Totsl Expenditure
522,405
522,405
231,730
Net (losses)Igains on investments 11
62,338
62,338
19,171
Net Income
276.973
276,973
351.234
Transfers between funds
Nel Movement in Funds
276,973
276,973
351,234
Reconcillation of funds
Total funds brought forward
8,900,974
8.900,974
8,549,740
Total funds carried forward
9,177.947
9,177,947
8,900,974
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.

CAUSEWAY TRUST
Statement of Financial Position
31 December 2023
Note
31 De¢ 23 31 Dec 22
Flxed assets
Investment Propety
14 8,754,595
8,754,595
7,844,347
7,844,347
Current assets
Debtors
Cash at bank and in hand
Investments
16
61,377
480
891,570
953,427
4,567
70,635
1,082,341
1,157,543
15
Creditors.. amounts falling due within one year
Net current assets
{530,075)
423,352
(100,916)
1,056,627
8,900,974
Total assets less current liabilities
9,177,947
Creditors: amounts falling due after more than one year
Net assets
9,177,947
8,900,974
Funds of the charity
Restricted funds
Unrestricted funds
9,177,947
8,900,974
Total charity funds
9,177,947
8,900,974
These financial statemen
28 Septewber-2024 a
ere approved by the board of trustees and authorised for issue on
e signed on behalf of the board by..
Mr Morris
Trustee
vans
12

CAUSEWAY TRUST
Statement of Cash Flows
Period from 1 January 2023 to 31 December 2023
Note 31 ￿23
31 Dec 22
Cash flows from operating activities
Net income
214,635
331,679
Adjustments for.
Depreciation of tangible fixed assets
Net {losses)Igains on investments
Other interest receivable and similar income
Accrued expensesl(income)
61,588
19,171
Changes in..
Trade and other debtors
Trade and other creditors
(56,809)
(40,841)
178,573
{4,567>
99,916
446,199
Cash generated from operations
Interest received
750
384
Net cash from operating activities
179,323
446,583
Cash flows from investing activitles
Purchase of tangible assets
Proceeds from sale of tangible assets
Purchases of other investments
Proceeds from sale of other investments
(910,248) (7,844,347)
(310,000)
7,480,890
(673,457)
190,770
(719,478)
Net cash used in investing activities
Cash flows from financing activities
Proceeds from borrowings
. Net cash used in financing activities
470,000
{249,478)
(673,457)
Net increase in cash arid cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
(70,155) {226,874)
70,635
297,509
480
70,635
20
20
The notes on pages 14 to 23 form part of these financial statements.
13

CAUSEWAY TRUST
Notes to the Financial Statements
Period from 1 January 2023 to December 2023
1. General Informatlon
The charity is a private company limited by guarantee, registered in Northern
Ireland and is a registered charity in Northern Ireland. The address of the registered
Office is clo McGuire + Farry, Emerson House, Carryduff, Belfast BT8 8DN.
2. statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,. The Statement of Recommended
practi￿ applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102))
2nd the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by
the revaluation of certain financial assets and liabilities and investment properties measured
at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the
entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Judgement and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including
expectations of future events that are believed to be reasonable under the circumstances.
14

CAUSEWAY TRUST
Notes to the Financial Statements
Period from 1 January 2023 to December 2023
Accounling policies ( c o n t i n u e d )
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or
endowment fvnds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income..
income from donations or grants is recognised when there is eviden￿ of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is cSassified under headings of the statement of
financial activities to which it relates=
expenditure on raising funds includes the costs of all fundraising activities.
events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in
undertaking activities that further its charitable aims for the benefit of its
beneficiaries, including those support costs and costs relating to the
governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising
funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable, and consistent basis.
15

CAUSEWAY TRUST
Notes to the Flnancial Statements (continued}
Period from 1 January 2023 to 31 December 2023
Accounting policies {continued)
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair
value. Iffair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Impairment of fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Vvhere the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
Financial instruments
Afinancial asset or a financial liability is recognised only when the charity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otheNise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest fora similar debt instrument.
other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging reSationship.
16

CAUSEWAY TRUST
Notes to the Financial Statements (continued)
Period from 1 January 2022 to 31 December 2022
Accounting policies (continued)
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
17

CAUSEWAY TRUST
Notes to the Flnanclal Statements (continued)
Period from 1 January 2023 to 31 December 2023
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. The liability of each
member in the event of winding-up is limited to £1.
5. Other trading activltles
Unrestricted
Funds
Total Unrestricted Total Funds
Funds Funds 2022
2022
2023
Rental and Service income
717,040 717,040 487,409
487,409
6. Investment income
Unrestricted
Funds
Total Unrestricted Total Funds
Funds Funds 2022
2022
2023
7. Other income
Unrestricted Restricted
Total Total Funds
Funds
Funds Funds 2022
2022
2023
Loan Interest from Tenant
750
750
750
750
18

CAUSEWAY TRUST
Notes to the Financial Ststements (continued)
Period from 1 January 2023 to 31 December 2023
8. Costs of other trading
activities
Unrestricted Total Funds Unrestricted
Funds
2023
Funds
Total
Funds
2022
Investment Propety -
Management costs I service cgs
185,028
185,028 79,808
79,808
Legal and Professional Fees
17,227
17,227 40,967
40,967
202,255
202,255 120,775 120,775
9. Expenditure on charitable
activities by fund type
Unrestricted
Total Unrestricted
Funds Funds 2023 Funds 2022
Total
Funds
2022
Charrtable Donations
300,115
300,115 100,000
100,000
300,115
300,115 100,000
100,000
10. Administrative expenses
Unrestricted
Funds
Total Unrestricted
Funds Funds 2022
Total
Funds
2022
Audit
9,669
9,669 10,000
10,000
Other administrative costs
10,366
20,035
10,366
955
20,035 10,955
955
10,955
19

CAUSEWAY TRUST
Notes to the Financial Statements (continued)
Period from l January 2023 to 31 December 2023
11. Net (losses)gains on
investments
Unrestricted
Funds
Total Unrestricted
Funds
Funds
2023
Total
Funds
2022
Gainsl{losses) on
investments
61,588
61,588
(19,171) (19,171)
61.588
61,588
(19,171) (1g,171)
12. Auditors remuneration
Year to
Dec 2023
Year to
Dec 2022
Fees payable for the audit of the
financial statements
9,669
10,000
13. Trustee remuneration
Trustees did not receive remuneration during the year (2022- £Nil).
20

CAUSEWAY TRUST
Notes to the Financlal Statements (continued)
Period from 1 January 2023 to 31 December 2023
14.
Investment Property
Freehold
Property
Total
Cost
At 1 January 2023
Additions
7.844,347
910,248
7,844,347
910,248
At 31 December 2023
8,754,595
8,754,595
Impairment
At 1 January 2023
Charge for the period
At 31 December 2023
Carrying amount
At 31 December 2023
8,754,595
8,754,595
At 31 December 2022
7,844,347
7,844,347
15.
Investments
Current
Investments
Total
Cost of valuation
At 1 January 2023
Additions
Disposals
Gains
1,082,341
1,082,341
(252,359)
61,588
(252,359)
61,588
At 31 December 2023
891,570
891,570
Impairment
At 1 January 2023 and 31 December 2023
Carrying amount
31 December 2023
891,570
891,570
At 31 De￿mber 2022
1,082,341
1,082,341
AIS investments shown above are held at vaSuation.
Financial assets held at fair value.
Current a55et investments are cash management funds of £891,570 {2022.' £1,082,341), held
within the United Kingdom and exists primarily to provide an investment return for the charity.
21

CAUSEWAY TRUST
Notes to the Financial Ststements (continued)
Period from 1 January 2023 to 31 December 2023
16.
Debtors
31 Dec 2023 31 Dec 2022
Rent and service charges
Prepayments and accrued income
Advance to Tenant
16,377
4,490
77
45,000
61,377
4,567
17.
Creditors: amounts falling due within one year
31 Dec 2023 31 Dec 2022
Accruals
Social security and other taxes
Payments on account
Loan from Morris Evans
10,000
13,943
36,132
470,000
12,331
30,702
57,883
530,075
100,916
18.
Analysis of charitable funds
Unrestricted funds
At 1 Jan 2023
Income Expenditure
Transfers
Gains and At 31 De¢ 2023
losses
General Funds
8,900,974
737,790
1522,4051
61,588 9.177,947
At 1 Jan 2022
Income Expendlturg
Transfers
Galns and At 31 Dec 2022
losses
General Funds
8.549,740
563,409
{231,730)
19,555 8,900.974
22

CAUSEWAY TRUST
Notes to the Financial Statements (continued)
Period from 1 January 2023 to 31 December 2023
19.
Corporation Tax
The company is a registered charity, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objectives.
20.
Analysis of changes in net debt
At1Jan
2023
Cash At 31 Dec
Flows
2023
Cash at bank and in hand
70,635
(70,155)
480
70,635
{70,155)
480
23