Louvain Development (N.1.) Trust- The Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) Year ended 31 December 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements ofthe charity for the year ended 31 December 2023. Reference and administrative details Reglstered charity name Louvain Development (N.1.) Trust- The Charity registration number NIC108394 Company registratlon number N1025153 Principal offlce and reglstered 22 Great Victoria Street office Belfast BT2 7BA The trustees Robert McKay Gerald Loughran Malachy Vallelly Company secretary Robert McKay Independent examlner Jonathan Dlckey FCA 22 Great Victoria Street Belfast BT2 7BA structure, governance and management The Charity is a charitsble company limited by guarantee and was incorporated on 20 December 1990. It is governed by a memorandum and articles of association. Due to the nature of the charity truslees are appointed on the basis of their relevant expertise. The Board is reviewed annually to ensure that the appropriate mix of skills is maintained and to identify if any further skills are requiTed to ensure the company focuses on its core work.
Louvain Development (N.1.) Trust- The Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continuedj Year ended 31 December 2023 Training Trustees are already familiar with the practlcal work of the charity and are Invlted lo attend charitable membership awareness events and governance training and seminars. New trustees are required to participate in governance training organised annually. Objectives and activities Principal activity and business review The principal activity of the Charity is the advancement of education of the people of Ireland by the provision, enGouragement and promotion of education instruction or training into the European Economic Community and into European matlers generally (including politics, social science, economics, educational systems, languages, culture, science, orany other fields connected with Europe or the peoples of Europe suitable for study) and so by such education instruction and training to develop within Ireland a better understanding of mainland European affairs. Misslon statement In the pursuit of its objectives, the Charity has a particular focus lo foster and promote voluntary work in connection with or incidental to research carried on into the above by the Irish Institute for European Affairs at Louvain. The directors are satisfied with the project to date and the results are in line wlth expectations. strateglc report The following sections for achievements and performance and financial review form the strategic report of the Charity. Flnanclal review Funding is sourced from benefactors wlth a particular interest in assisting to further the aims of the Charity,
Louvain Development {N.l.) Trust- The Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fcontinued) Year ended 31 December 2023 Financial review {contlnued) Reserves policy The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. Since the Charity owns no assets, does not have paid staff and minimal operating costs, the policy is to ensure that the Charity's bank balance always remains in credit and that no commitments are ever made for spending without having first secured adequate donations. Plans for future years The charity plans continuing Ihe activities outlined above in future years. The trustees, annual report and the strategic report were approved on 23 September 2024 and signed on behalf of the board of trustees by.. Mr Robert McKay Trustee