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||Page|
|---|---|
|Key Organisational<br>Information||
|Annual<br>Report ofTrustees|2-15|
|Independent<br>Auditors<br>Report|16-19|
|Statement<br>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<br>and legacies|||76,435||76,435|17,096||17,096|
|Charitable<br>activities:|||||||||
|Homeless young people|||||||||
|sUpport||4|2,933,370|186,891|3,120,261|2,250,874|271,133|2,522,007|
|Other trading<br>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<br>on:|||||||||
|Raising funds|||30,069||30,069|11,536||11,536|
|Charitable<br>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<br>between funds||||||10,000|(10,000)||
|Actuarial<br>gains /(losses) on|||||||||
|defined benefit pension|||||||||
|scheme|||(21,537)||(21,537)|56,827||56,827|
|Net movement<br>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<br>funds|||||21|367,289|367,468|
|Total charity funds||||||420,233|405,153|





## 

|||||Notes|2023|2022|
|---|---|---|---|---|---|---|
||||||f||
|Cash flows from operating<br>activities:|||||||
|Net cash generated<br>by/(used<br>in)|operating|activities||24|187,372|(201,180)|
|Cash flows from investing<br>activities:|||||||
|Interest from investments|||||722|901|
|Purchase oftangible fixed assets|||||(26,866)|(19,399)|
|Cash used in investing<br>activities|||||(26,144)|(18,498)|
|Increase/(decrease)<br>in cash and|cash equivalents||in the year||161,228|(219,678)|
|Cash and cash equivalents<br>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<br>income|||||
|---|---|---|---|---|---|
||All ofthe charity's|investment|income|arises from money held in interest bearing deposit accounts.||
||All investment<br>income is unrestricted.|||||
|6.|Income from other|trading activities||||
|||||2023|2022|
|||||f|f|
||Fundraising<br>events|||53,084|37,051|
||Government<br>Grants||||13,590|
|||||53,084|50,641|
||All other income is|unrestricted.||||
|7.|Cost ofraising funds|||||
|||||2023|2022|
|||||f|f|
||Fundraising<br>costs|||30,069|11,536|
|||||30,069|11,536|
||All expenditure<br>on|cost of raising funds||is unrestricted.||





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||||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<br>rents S.householder||fees|153,205|153,205|140,348|
|Property<br>maintenance|||107,086|107,086|173117|
|Light 5heat|||73,064|73,064|41,107|
|Resettlements/residents|costs||49,676|49,676|26,695|
|Telephone,<br>postage 5stationery|||28,216|28,216|32,062|
|Computer<br>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<br>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<br>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<br>expenditure||||171,632|233,448|
|Unrestricted<br>expenditure||||3,012,184|2,536,688|
|||||3,183,816|2,770,136|





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|9. Analysis|ofgov|ernance<br>a|nd support costs|||||
|---|---|---|---|---|---|---|---|
||||Basis of|Support|Governance|Support|Governance|
||||allocation|2023f|2023<br>f|2022<br>f|2022<br>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'<br>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<br>f||2022<br>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<br>pension costs|||||64,022||55,387|
||||||2,253,943||1,916,262|
|Allocated as follows:||||||||
|Charitable<br>activities|||||2,042,349||1,736,369|
|Support costs|||||211,593||179,893|
|Governance<br>costs||||||||
||||||2,253,943||1,916,262|





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|The|government<br>g|rants recognised<br>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|





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## 

|gible Fixed Assets|||||
|---|---|---|---|---|
||Plant &|Motor|Computer||
||Machinery<br>f|Vehicles<br>f|Equipment<br>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<br>f|
|Trade debtors|||104,762|212,893|
|Prepayments<br>and accrued income|||128,276|80,258|
||||233,038|293,151|



## 



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|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<br>(RPI)|||||||||3.17|3.49|
|Inflation<br>(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|





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## 

||31March 2023|31March 2022|
|---|---|---|
||E'000|f'000|
|Global equity||103|
|Absolute<br>return||21|
|Distressed<br>opportunities|10|19|
|Credit relative value|12|18|
|Alternative<br>risk premia||18|
|Fund ofhedge funds|||
|Emerging<br>markets debt||16|
|Risk sharing|24|18|
|Insurance-linked<br>securities|||
|Property|14|14|
|Infrastructure|38|38|
|Private debt|15|14|
|Opportunistic<br>illiquid credit|14|18|
|High yield|||
|Opportunistic<br>credit|||
|Cash|||
|Corporate<br>bond fund||36|
|Liquid credit|||
|Long lease property|10|14|
|Secured income|15|20|
|Liability driven<br>investment|152|149|
|Currency<br>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<br>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<br>liabilities||||||
|Defined benefit pension|liability|(71,000)|||(71,000)|
|Total funds||367,289||52,944|420,233|
|~Previous<br>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<br>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<br>E|Cash flows<br>f|31March 2023<br>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|