2022/23 Financial ReviewNet deficitNet 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 assetsThe chart below shows the net assets of the Charityduring the year fell by £4.2m (2022: increase £1.8m).Value of investments fell by £2.7m (-8%) and includedinvestment losses of £2.3m.Net assetsAt 31 March 2023Net current liabilities position was £5.6m (2022: netcurrent liabilities £3.9m), representing an increase of£1.7m. This is driven by the increase in unsettled grantcommitments with the Foundation Trust of £6m (2022:£4.8m).Liquid assets held were £6.5m (2022: £6.7m). Trusteesbelieve that in the worst-case scenario that theFoundation Trust draws on all its liabilities to beimmediately settled, the Charity’s investments wouldbe realised to cover any shortfall between the liquidassets held and the total liabilities due.At 31 March 2022£’00032,44629,75733 33-1,168 -1,397-3,917-5,631Tangible assets42S U P P O R T K I N G S .O R G .U KInvestmentsNet currentliabilitiesLong termliabilities
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