COMPANY REGISTRATION NUMBER.. NI 657534 CHARITY REGISTRATION NUMBER. NIC107363 CAUSEWAY TRUST Financial Statements For the Year Ended 31 December 2024 McGuire + Farry Limited Chartered Certified Accountants Emerson House Carryduff BELFAST BT8 8DN
CAUSEWAY TRUST Annual Report and Financial Statements Period from 1 January 2024 to 31 December 2024 Contents Page Charity Reference and Administrative Details Trustees, annual report (incorporating the director's report) Independent auditor's report to the members 6-10 Statement of financial activities {including income and expenditure account) Statement of financial position 12 Statement of cash flows 13 Notes to the financial statements 14-23
CAUSEWAY TRUST Charity Reference and Administrative Details Period from 1 Jan uary 2024 to 31 December 2024 Registered charity name Causeway Trust Charity registration number NIC107363 Company registration number N1657534 Registered office clo McGuire + Farry Emerson House Carryduff Belfast BT8 8DN Trustees Mrs Patricia Lorraine Evans Mr Morris Evans Auditor McGuire + Farry Limited Chartered Certified Accountants Emerson House Carryduff Belfast BT8 8DN
CAUSEWAY TRUST Trustees. Annual Report (Incorporating the Director's Report) Period from 1 Janu ary 2024 to 31 December 2024 The Trustees present their report and the audited financial statements of the charity for the year ended 31 December 2024. 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 in June 2019 and has trustees, Morris Evans and Lorraine Evans. The Trust was established by Mr and Mrs Evans and they were the source of the funds which established The Trust. Causeway Trust has been the principal donor to the Northern Ireland Based Prostate Cancer Centre of Excellence, also known as PROEX. The Trustees continue to take independent medical advice from a recently retired senior surgeon who specialised in cancer surgery. The Trustees take advice on a regular basis from financial, property, legal and medical experts. Objectives and activities Achievements and performan¢e The charity owns a large commercial building in Belfast City Centre. This investment currently generates net annual rentsl income more than 500K per annum. Currently the building is 90 /0 ¢xcupied and we expect this occupancy rate to be maintained during 2025.
CAUSEWAY TRUST Trustees. Annual Report (Incorporating the Director's Report) conti n u ed Period from 1 Jan uary 2024 to 31 December 2024 Having taken professional advice, and to broaden our investment profile, Causeway Trust purchased 9 residential investment properties in the Greater Belfast area. This investment to date totalled £1,005,062 and should provide a net yield of approximately 60/0 pa. We have also invested funds with Davy in secure deposits which produced net returns of £67,648 in 2024. 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 enlered into a grft agreement with Queens Universrty BeIfast (QUBI to fund the establishment ofthe"Prostate Cancer cent of Excellence. (PROEXI. Due to the continued SucsS of PROEX we have agreed to extend the funding of this project on a rolling basis with an expected minimum gift of £2.4M. PROEX 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 During 2025, Causeway Trust, in accordance with its objectives, commenced regular donations to Cancer Focus, another Northern Ireland based cancer charity. We intend to further develop our relationship with Cancer Focus for the betterment of cancer sufferers in Northern Ireland. The Trustees continue to explore opportunities to maximise revenue for the charity to make maximum impact on its chose charitable causes. 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) continued Period from 1 Ja n uary 2024 to 31 December 2024 The charity has generated a surplus for the year of £230,15612023'. £276,973). Donations totalling £300,000 were made to QUB to fund the Prostate Cancer Cantre of Excellence. The charity's total assets at 31 December 2024 were £9,408,103 (2023-. £9,117,947). Liquidity as defined by Net Current Assets was £558,694 (2023: £423,352). 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 TNstee Responsibilities: The Trustees who are also directors for the purposes of company law, are responsible for preparing the 'trustees' report and the financial stslements in a¢¢£Jrdance wth applicable law and Unrted lfjngdom Accounting Standards (United Kngdcffl Generally Ac£epted Accounting PractiTrl. Company law requires the chaty bustees to prepare finanaal statements for each yearwhich give a true and fair view of the stste of affairs of the charrtable company and the ino)ming resources and application of resouffes, induding the income and expendrture for that period. In preparing these finanaal ststements, the Instees are reqUId to.. Select Suitab accounting policies and then apply them consistenuy, Observe the methods and princ4ples in the applicable Charits'es SORP,. Make judgements and ac£ounting estimatss that are reasonable and pruden( State whether applicable UK A¢unting Standards have been followed, subject to any malenal departures disclosed and explained in the financial statements., Prepare the financial statements on the going cOnM basis unless ft is inappropriate to presume that the chanty will continue in business.
CAUSEWAY TRUST Trustees. Annual Report (Incorporating the Director's Report) co ntl n ued Period from 1 Jan uary 2024 to 31 December 2024 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 informatlon 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 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 information and to establish that the charity's auditor is aware of that information. The trustees, an and signed o ehalf rt and the strategic report were approved on 30 September 2025 the board of trustees by: r Morris Trustee vans
CAUSEWAY TRUST Independent Auditor's Report to the Members of Causeway Trust Period from 1 January 2024 to 31 December 2024 We have audited the financial statements of Causeway Trust (the 'charity') for the year ended 31 December 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related noles. 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 rEdOM Generally Accepted Accounting Practice). in our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 Dlter 2024 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 auditor's 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 UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the 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 2024 to 31 December 2024 Other inforniation The other infomation comprises the infomiation 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 finanaal statements dS not cover the other infomiation and, except 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 information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othewise 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 infomiation, we are required to report that fact. We have nothing to report in this regard.. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course ofthe 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 required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Irustees, 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 accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit.
CAUSEWAY TRUST Independent Auditor's Report to the Members of Causeway Trust Period from 1 January 2024 to 31 December 2024 Responsibilities of trustees As explained. more fully in the trustees, responsibilities statemenl, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of Ihe financial statements and for being salisfied 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 or error. In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial ststements 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 reasonably 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 about their 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 offraud 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 statements and any potential indicators of fraud. 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. In common with all audits under ISAS (UK), we are also required to perfomi 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 2024 to 31 December 2024 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 conte*( 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 theirability to operate or to avoid a material penalty. As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement ofthe 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 lo 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 disclosures made by the trustees. Conclude on the appropriateness ofthe 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 modfy our opinion. Ourconclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concem. 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 deficiencies 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 2024 to 31 December 2024 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, ft)r this report, or for the opinions we have formed. ,rt JA, Keith Mcmanus {Senior S or and on behalf of.. McGuire + Fary Limited Chartered Certified Accountants Emerson House Carryduff Belfast BT8 8DN 30 September 2025 10
CAUSEWAY TRUST statement of Financial Activities (including income and expenditure account) Period from 1 January 2024 to 31 December 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Income Note Donations Other trading activities Gift Aid Reclaim Other Income 20,000 717,040 700,446 700.446 1,500 1,500 750 Total Income 701,946 701.946 737,790 Expendituro Expenditure on raising fvnds.. Costs of other trading activities Expenditure on charitable activities 9 Administrative expenses 10 225,254 300,000 14.184 225,254 300,000 14,184 211,457 300.115 10,833 Total Expenditure 539.438 539,438 522,405 Net Ilosses)Igains on investments 11 67,648 67,648 61,588 Net Income 230.156 230,158 276.973 Transfers beteern funds Net Movement in Funds 230,156 230,156 276,973 Reconciliation of funds Total funds brought foward 9,177,947 9.177,947 8.900.974 Totsl funds carried forward 9,408,103 9.408.103 9,177,947 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 Period from 1 January 2024 to 31 December 2024 Note 31 Dec 24 31 Dec 23 Flxed assets Investment Propety 14 8,849,409 8,849,409 8,754,595 8,754,595 Current assets Debtors Cash at bank and in hand Investments 16 54,819 233,257 546,458 834,534 61,377 480 891,570 953,427 15 Credltors.. amounts falling due within one year Net current assets (275,8401 558,694 9,408,103 (530,0751 423,352 Total assets less current Ilabllities 9,177,947 Creditors: amounts falling due after more than one year Net assets 9,408,103 9,177,947 Funds of the charity Restricted funds Unrestricted funds 9,408,103 9,177,947 Total charity f 9,408,103 9,177,947 These fi 30Se ncial s mber ments were approved by the board of trustees and authorised for issue on and are signed on behalf of the board by.. Morris Evans Trustee 12
CAUSEWAY TRUST Statement of Cash Flows Period from 1 January 2024 to 31 December 2024 Note 31 D24 31 Dec 23 Cash flov from operating activities Nel income 230,156 276,973 Adjustments for. Net gains on investments Other interest receivable and similar income {67,648) (1,5001 161,588) (750) Changes in." Trade and other debtors Trade and other creditors 6,558 {254,235) (86,669) 156,810) 429,159 586,984 Cash generated from operations Interest received 1.500 750 Net cash from operating actwities (85,1691 587,734 Cash flows from Investing activities Purchase of tangible assets Purchases ofother investments Proceeds from sale of other investments (94,814) (1.562,2401 1,975,000 317,946 (910,248) 252,359 (657,8891 Net cash used in investing actwities Net increase in cash arid cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 232,777 480 (70,155) 70,635 480 20 20 233,257 The notes on pages 14 to 23 form part of these financial statements.
CAUSEWAY TRUST Notes to the Financial Statements Period from 1 January 2024 to 31 December 2024 1. General Information The charity is a private Gompany 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 Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {Charities SORP (FRS 1021) and 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. Judgernent 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 Ihat are believed to be reasonable under the circumstances. 14
CAUSEWAY TRUST Notes to the Financial Statements Period from 1 January 2024 to 31 December 2024 Accounting policies I 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 Iheir expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 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 Ihere is evidence 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 classified under headings of the statement of financial activities to which it relates.. expendilure 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 expenéiture 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 between the activities they contribute to on a reasonable, justrfiable. and consistent basis. 15
CAUSEWAY TRUST Notes to the Financial Statements {continued) Period from 1 January 2024 to 31 December 2024 Accounting policies I c o n t i n u e d I Investment properties Investment properties are properties held to earn rentals or for capital appreciation, or both, ratherthan for use in the ordinary course ofbusiness. The Trust measures investment properties at fair value at each reporting date, with changes in fair value recognised in the Statement of Financial Activities in the period in which they arise. Fair value is determined annually by independenl professional valuers or by the trustees based on market evidence of recent Iransaction prices for similar properties. No depreciation is provided on investment properties carried at fair value. On disposal of an investment property, the difference between the net sale proceeds and the carrying amount is recognized in profit or loss. Current investments Current investments comprise cash management funds which are readily convertible to known amou nts of cash and are subject to an insignificant risk of Changes in value. These investments are classified as financial assets held at fair value through profit or loss. as they are managed and their performance evaluated on a fair value basis. Investments are initially recognized at fair value, which is normally Ihe transaction price, and subsequently measured at fair value at each reporting date. Changes in fairvalue and any gains or losses on disposal are recognised in the Statement of Financial Activities as they arise. Income distributions from the funds are recognized in profit or loss when the right to receive payment is established. Impairment of assets A review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where 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 orgroups of assets. Financial instruments A financial 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 re¢ognised 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 measupd at amortised cost. 16
CAUSEWAY TRUST Notes to the Financial Statements (continued) Period from 1 January 2024 to 31 December 2024 Accounting policies { c o n t i n u e d I Where investments in shares are publicly traded or their fair value can otherwise 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 temis or financed at a rate of interest that is not a market rale, in which case the asset is measured at the present value of the future payments discounted at a market rale of interest for a 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 inslruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairmenl 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 Financial Statements (continued) Period from 1 January 2024 to 31 December 2024 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 activities Unrestricted Funds Total Unrestricted Total Funds Funds Funds 2023 2023 2024 Rental and Service income 700,446 700,446 717.040 717,040 Investment income Unrestricted Funds Total Unrestricted Total Funds Funds Funds 2023 2023 2024 67,648 67.648 61,588 61,588 7. Other income Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2024 Loan Interest from Tenant 750 750 750 750 1,500 1,500 18
CAUSEWAY TRUST Notes to the Financial Statements (continued) Period from 1 January 2024 to 31 December 2024 Costs of other trading activities Unrestricted Total Funds Unrestricted Funds 2024 Funds Total Funds 2023 Investment Propety - Management costs I service cgs 219,150 219,150 185,028 185,028 Legal and Professional Fees 6104 17227 225.254 225,254 202,255 202,255 9. Expenditure on charitable activities by fund type Unrestricted Total Unrestricted Funds Funds 2024 Funds 2023 Total Funds 2023 Charitable Donations 300 000 300 000 300 115 300115 300,000 300.000 300.115 300,115 10. Administrative expenses Unrestricted Total Unrestricted Funds Funds 2024 Funds 2023 Total Funds 2023 Audit 10,000 10,000 9,669 9,669 Other administrative costs 4183 10366 14.183 14,183 20,035 20,035 19
CAUSEWAY TRUST Notes to the Financial Ststements (continuedl Period from 1 January 2024 to 31 December 2024 11. Net {losses)gains on investments Unrestricted Funds Total Unrestricted Funds Funds 2024 Total Funds 2023 Gainsl(losses) on investments 67,648 67,648 61,588 61,588 67,648 67,648 61.588 61,588 12. Auditors remuneration Year lo Dec 2024 Year to Dec 2023 Fees payable for the audit of the financial statements 10,000 9,669 13. Trustee remuneration Trustees did not receive remuneration during the year (2023.. £Nill. 20
CAUSEWAY TRUST Notes to the Financial Statements (continued) Period from 1 January 2024 to 31 December 2024 14. Investment Property Freehold Property Total Cost At 1 January 2024 Additions 8,754,595 94,814 8,754,595 94,814 At 31 December 2024 8,849.409 8,849,409 Impairment At 1 January 2024 Charge for the period Al 31 December 2024 Carrying amount At 31 December 2024 8,849,409 8,849,409 At 31 December 2023 8,754,595 8,754,595 Investments Current Investments Cost of valuation At 1 January 2024 Additions Disposals Gains 891,570 1.562,240 (1.975.000) 67,648 At 31 December 2024 546.458 Impairment At 1 January 2024 and 31 December 2024 Carrying amount 31 December 2024 546,458 At 31 December 2023 891,570 All investments shown above are held at valuation. 21
CAUSEWAY TRUST Notes to the Financial Statements (continued) Period from 1 January 2024 to 31 December 2024 Financial assets held at fair value. Current asset investments are cash management funds of £546,458 (2023 £891,570), held within the United Kingdom and exists primarily to provide an investment return for the charity. 16. Debtors 31 Dec 2024 31 Dec 2023 Renl and service charges Advance to Tenant 19,819 35.000 16,377 45,000 54,819 61,377 17. Creditors: amounts falling due within one year 31 De¢ 2024 31 Dec 2023 Accruals Social security and other taxes Payments on account Loan from Morris Evans 20,000 23,100 35,000 197,740 10,000 13,943 36,132 470,000 275.840 530,075 18. Analysis of charitable funds Unrestricted funds At 1 Jan 2024 Incom& Exp¢ndltur& Transfers Gains and At 31 Dec 2024 losses Gènèral Funds 9,177.947 701,946 1539,4381 67.648 9.408.103 At 1 Jan 2023 Income lossos Expendlture Transfars Galn$ and At 31 D•c 2023 General Funds 8,900,974 737,790 1522.4051 61,588 9,177,947 22
CAUSEWAY TRUST Notes to the Financial Statements (continued) Period from 1 Jan uary 2024 to 31 December 2024 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 2024 Cash At 31 Dec Flows 2024 Cash al bank and in hand 480 232,777 233,257 480 232,777 233,257 23