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2023-03-31-accounts

Page
Key Organisational
Information
Annual
Report ofTrustees		 2-15
Independent
Auditors
Report		 16-19
Statement
of Financial Activities		 20
Balance Sheet 21
Statement of Cashflows 22
Notes tothe Financial Statements 23-40

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Forthe Year E nded 31Marc h 2023
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds funds funds
Notes 2023 2023 2023 2022 2022 2022
Income from:
Donations
and legacies		 76,435 76,435 17,096 17,096
Charitable
activities:
Homeless young people
sUpport 4 2,933,370 186,891 3,120,261 2,250,874 271,133 2,522,007
Other trading
activities		 53,084 53,084 50,641 50,641
Investments 722 722 901 901
Total income 3,063,611 186,891 3,250,502 2,319,512 271,133 2,590,645
Expenditure
on:
Raising funds 30,069 30,069 11,536 11,536
Charitable
activities:
Homeless young people
sUpport 3,012,184 171,632 3,183,816 2,536,688 233,448 2,770,136
Total expenditure 3,042,253 171,632 3,213,885 2,548,224 233,448 2,781,672
Net income/(expenditure)
before gains/(losses) on
defined benefit pension
scheme 10 21,358 15,259 36,617 (228,712) 37,685 (191,027)
Transfers
between funds		 10,000 (10,000)
Actuarial
gains /(losses) on
defined benefit pension
scheme (21,537) (21,537) 56,827 56,827
Net movement
in funds for
the year (179) 15,259 15,080 (161,885) 27,685 (134,200)
Fund balances brought
forward 367,468 37,685 405,153 529,353 10,000 539,353
Fund balances carried
forward 367,289 52,944 420,233 367,468 37,685 405,153
Notes 2023 2022
f
Fixed assets
Tangible assets 14 49,456 47,576
49,456 47,576
Current assets
Debtors 15 233,038 293,151
Cash at bank and in hand 16 494,088 332,860
Total current assets 727,126 626,011
Creditors: Amounts falling due within one year 17 (285,349) (190,850)
Net current assets 441,777 435,161
Creditors: Amount falling due after more than one year (10,584)
Net assets excluding defined benefit pension liability 491,233 472,153
Defined benefit pension liability 19 (71,000) (67,000)
Total net assets 420,233 405,153
The funds ofthe charity:
Restricted funds 20 52,944 37,685
Unrestricted
funds		 21 367,289 367,468
Total charity funds 420,233 405,153

Notes 2023 2022
f
Cash flows from operating
activities:
Net cash generated
by/(used
in)		 operating activities 24 187,372 (201,180)
Cash flows from investing
activities:
Interest from investments 722 901
Purchase oftangible fixed assets (26,866) (19,399)
Cash used in investing
activities		 (26,144) (18,498)
Increase/(decrease)
in cash and		 cash equivalents in the year 161,228 (219,678)
Cash and cash equivalents
at the		 beginning ofthe year 332,860 552,538
Total cash and cash equivalents at the end ofthe year 494,088 332,860

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5. Investment
income
All ofthe charity's investment income arises from money held in interest bearing deposit accounts.
All investment
income is unrestricted.
6. Income from other trading activities
2023 2022
f f
Fundraising
events		 53,084 37,051
Government
Grants		 13,590
53,084 50,641
All other income is unrestricted.
7. Cost ofraising funds
2023 2022
f f
Fundraising
costs		 30,069 11,536
30,069 11,536
All expenditure
on		 cost of raising funds is unrestricted.

Homeless young Total Total
people support 2023 2022
Costs
Staff 2,042,350 2,042,350 1,736,369
Travel S.subsistence 2,867 2,867 3,048
Training 33,596 33,596 31,920
Recruitment 36,441 36,441 7,925
Rent, rates 5 insurance 172,013 172,013 141,751
Housing
rents S.householder		 fees 153,205 153,205 140,348
Property
maintenance		 107,086 107,086 173117
Light 5heat 73,064 73,064 41,107
Resettlements/residents costs 49,676 49,676 26,695
Telephone,
postage 5stationery		 28,216 28,216 32,062
Computer
S.software		 33,016 33,016 27,664
Office 5sundry 80,775 80,775 71,754
Professional fees 24,572 24,572 15,492
Depreciation 24,986 24,986 23,156
Bank charges 2,355 2,355 2,417
Socia I investment
interest		 1,097 1,097 2,189
Bad debts 1,195 1,195 1,082
2,866,510 2,866,510 2,478,096
Governance
costs (see note		 9) 88,026 88,026 95,674
Support costs (see note 9) 229,280 229,280 196,366
3,183,816 3,183,816 2,770,136
2023f 2022f
Restricted
expenditure		 171,632 233,448
Unrestricted
expenditure		 3,012,184 2,536,688
3,183,816 2,770,136

9. Analysis ofgov ernance
a		 nd support costs
Basis of Support Governance Support Governance
allocation 2023f 2023
f		 2022
f		 2022
f
Staff costs Time spent 211,593 179,893
Staff support Support 17,687 16,473
Audit and accountancy fees Governance 79,683 89,572
Trustee meetings and AGM costs Governance 8,343 6,102
229,280 88,026 196,366 95,674
10. Net income/expenditure for the year
2023f 2022
Net expenditure for the year is stated after charging:
Auditors'
remuneration:
Audit fee 9,504 5,000
Accountancy 3,168 3,280
Depreciation 24,986 23,156
11.Analysis ofstaff costs, trustee expenses and key management
Personnel remuneration 2023
f		 2022
f
Staff costs during the year were as follows:
Wages and salaries 2,002,492 1,708,589
Socia I security costs 187,429 152,286
Employer
pension costs		 64,022 55,387
2,253,943 1,916,262
Allocated as follows:
Charitable
activities		 2,042,349 1,736,369
Support costs 211,593 179,893
Governance
costs
2,253,943 1,916,262

The government
g		 rants recognised
in the accounts		 were as follows:
2023 2022
f f
YPT local authority contract 471,067 472,570
Job Retention Scheme 13,590
471,067 486,160

gible Fixed Assets
Plant & Motor Computer
Machinery
f		 Vehicles
f		 Equipment
f		 Total
Cost
At 1April 2022 89,309 20,274 64,689 174,272
Additions 21,907 4,959 26,866
At 31March 2023 111,216 20,274 69,648 201,138
Depreciation
At 1April 2022 81,292 11,721 33,683 126,696
Charge for the year 6,634 2,138 16,214 24,986
At 31March 2023 87,926 13,859 49,897 151,682
Net book value
At 31March 2023 23,290 6,415 19,751 49,456
At 1April 2022 8,017 8,553 31,006 47,576
tors
2023f 2022
f
Trade debtors 104,762 212,893
Prepayments
and accrued income		 128,276 80,258
233,038 293,151

16. Cash at bank and in hand
2023 2022
f E
Cash at bank and on hand 494,088 332,860
494'088 332,860
17. Creditors: amounts falling due within one year
2023 2022
f f
Trade creditors 21,459 41,684
Other creditors and accruals 172,431 79,841
Taxation and social security costs 64,283 41,028
Pension 16,904 12,623
Sociallnvestment Loan 10,272 15,674
285,349 190,850
2023 2022
f f
Sociallnvestment Loan 10,584
10,584

2023 2022
0/0 p.a. 0/0 p.a.
Discount rate 4.84 2.79
Inflation
(RPI)		 3.17 3.49
Inflation
(CPI)		 2.79 3.15
Salary growth 3.79 4.15
Allowance for commutation of pension for cash at 75/0 of 750/0 of
retirement maximum maximum
allowance allowance
hanges in the present value ofthe defined benefit obligation are as follows:
2023 2022
E
Defined benefit obligation at start ofperiod 603,000 615,000
Expenses 2,000 3,000
Interest expense 17,000 14,000
Actuarial (gains)/losses due to scheme experience (11,000) 39,000
Actuarial gains due to changes in demographic assumptions (1,000) (9,000)
Actuarial (gains) due to changes in financial assumptions (198,000) (50,000)
Benefits paid and expenses (11,000) (9,000)
Defined benefit obligation at end ofperiod 401,000 603,000

31March 2023 31March 2022
E'000 f'000
Global equity 103
Absolute
return		 21
Distressed
opportunities		 10 19
Credit relative value 12 18
Alternative
risk premia		 18
Fund ofhedge funds
Emerging
markets debt		 16
Risk sharing 24 18
Insurance-linked
securities
Property 14 14
Infrastructure 38 38
Private debt 15 14
Opportunistic
illiquid credit		 14 18
High yield
Opportunistic
credit
Cash
Corporate
bond fund		 36
Liquid credit
Long lease property 10 14
Secured income 15 20
Liability driven
investment		 152 149
Currency
hedging		 (2)
Net current assets 1
Total market value ofassets 330 536
Present value ofscheme liabilities (401) (603)
Defined benefit liability to be recognised (71) (67)
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~Current
eer		 General funds Restricted funds Total
f
Tangible fixed assets 49,456 49,456
Net current assets 388,833 52,944 441,777
Non-current
liabilities
Defined benefit pension liability (71,000) (71,000)
Total funds 367,289 52,944 420,233
~Previous
eer		 General funds Restricted funds Total
f f f
Tangible fixed assets 47,576 47,576
Net current assets 397,476 37,685 435,161
Non-current
liabilities		 (10,584) (10,584)
Defined benefit pension liability (67,000) (67,000)
Total funds 367,468 37,685 405,153

2023 2022
f f
Within one year 63,000 63,000
Between two and five years 126,000 189,000
189,000 252,000
2023 2022
f
Net income/(expenditure) for the year 15,080 (191,027)
Depreciation 24,986 23,156
Defined benefit pension adjustment 4000 (16173)
Interest from investments (722) (901)
Decrease/(increase) in debtors 60,113 (27,311)
Increase in creditors 83,915 11,076
Net cash (generated by)/from operating activities 187,372 (201,180)
25.Analysis ofchang es in net debt
1April 2022
E		 Cash flows
f		 31March 2023
f
Cash at bank and in hand 332,860 161,228 494,088
Borrowings excluding overdrafts (26,258) 15,986 (10,272)
306,602 177,214 483,816