KCHC-AR-2023 Final Signed - Flipbook - Page 42
2022/23 Financial Review
Net deficit
Net deficit for the year was £4.2m (2022: surplus £1.8m)
after allowing for the loss on investments of £2.3m
(2022: gain £1.4m).
Net assets
The chart below shows the net assets of the Charity
during the year fell by £4.2m (2022: increase £1.8m).
Value of investments fell by £2.7m (-8%) and included
investment losses of £2.3m.
Net assets
At 31 March 2023
Net current liabilities position was £5.6m (2022: net
current liabilities £3.9m), representing an increase of
£1.7m. This is driven by the increase in unsettled grant
commitments with the Foundation Trust of £6m (2022:
£4.8m).
Liquid assets held were £6.5m (2022: £6.7m). Trustees
believe that in the worst-case scenario that the
Foundation Trust draws on all its liabilities to be
immediately settled, the Charity’s investments would
be realised to cover any shortfall between the liquid
assets held and the total liabilities due.
At 31 March 2022
£’000
32,446
29,757
33 33
-1,168 -1,397
-3,917
-5,631
Tangible assets
42
S U P P O R T K I N G S .O R G .U K
Investments
Net current
liabilities
Long term
liabilities
