KCHC Annual Review 2023-24 WEB Singles - Flipbook - Page 32
2023/24 Financial Review
Net surplus (deficit)
Net assets
Net surplus for the year was £126K (2023: deficit £4.2M)
after allowing for the gain on investments of £1.5M
(2023: loss £2.3M).
The chart below shows the net assets of the Charity
during the year increasing by £126K (2023: decrease
£4.2M).
Net assets
At 31 March 2024
At 31 March 2023
£29,997 £29,757
£30,000
£25,000
£20,000
£15,000
£10,000
£5,000
£0
£41
Net current
liabilities
£33
Tangible assets
Investments
Loan term
liabilities
-£474 -£1,168
-£5,000
-£6,447
-£5,631
-£10,000
The value of investments rose by £239K and included
investment gains of £1.5M (2023: investment loss of
£2.3M) and a drawdown of £1.2M of liquidity funds
during the year.
Net current liabilities position was £6.4M (2023:
£5.6M), representing an increase of £0.8M. This is
driven by the rise in unsettled grant commitments
with the Foundation Trust of £7.9M (2023: £6M).
32
S U P P O R T K I N G S .O R G .U K
Total investments can be liquidated at short notice.
Trustees believe that in the worst-case scenario, if
the Foundation Trust draws on all its liabilities to be
immediately settled, the Charity’s investments would
be realised to cover the total liabilities due.
