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2023-03-31-accounts

e ordinary shares ofthe charitable
 company
are as follows:
R1 ordinary shares
At 31 March 2023 At 1 April 2022
Mr lan Brady, Chair 1 1
Mr Simon Dow 1 1
Mr John Stebbing 1 1
Ms Clare Miller 1 1
Mr Jeremy Swain 1 1
Ms Eleanor Stringer 1 1
Mr Derek Joseph 1 1
Mr Nick Hardwick 1 1
Ms Elly Shepherd 1 1
9 Q

Total Unrestricted Unrestricted
Funds
Note 2023 2022
F
INCOME:
Investments 2 638 923 585908
TOTAL INCOME 638 923 585908
EXPENDITURE ON:
Raising funds
Investment
management		 fees 15 248 15248
Charitable
expenditure
Organisational
Strengthening		 83,282
Criminal Justice System Interface 50,000 66,884
Research and Specials 28,222
Agencies Support 646,539 677,485
Charitable
Contributions		 8 ~56600 ~76914
639 939 779209
TOTAL EXPENDITURE 5 655 187 794457
NET INCOMEi(EXPENDITURE) FOR THE YEAR BEFORE 6 ~76 264 ~208 046
OTHER RECOGNISED GAINS OR (LOSSES)
Gains/(losses)
on investment		 assets 11 (1,257,465) 294,414
Actuarial
(losses)/gains/on		 defined benefit pension scheme 19 ~11462 ~66242
NET MOVEMENT
IN FUNDS		 FOR THE YEAR (1,285, 191) 20,123
Fund balances
brought		 forward 15821 734 15801 611
FUND BALANCES CARRIED FORWARD ~14 3('t~
All amounts
relate to continuing		 activities.
The notes on Pages 20-36 form part ofthese financial statements.

2023 2022
FIXEDASSETS Note E
Investment
in subsidiary		 10 100 100
undertaking
Quoted investments 13 029 248 14 816290
13,029,348 14,516,390
SOCIAL INVESTMENTS
Depaul UK 18 423,525 476,533
CURRENT ASSETS
Debtors 12 71,101 87,984
Cash at bank and in hand 1 188 331 951 307
1,259,432 1,039,291
CREDITORS: amounts falling due
within one year 13 ~56764 ~81 480
NET CURRENT ASSETS 1,202,670 957,811
LONG TERM LIABILITIES
Pension scheme deficit 21 119000 129000
NET ASSETS ~35 543
CAPITAL AND RESERVES
Called up share capital 14 9 9
Unrestricted
funds General		 14,349,377 15,624,568
Designated 19 68,157 68,157
Pension Reserve 19 ~14 119000
36 43		 129000
~~4

2023 2022
Cash flows from operating activities: Note
Net cash (used in) / provided by operating (a) 684484 ~883 114
activities
Long term assets
Loan advances 53,008 53,008
Cash flows from investing
activities:
Dividends
and interest from		 investments 638,923 585,908
Proceeds from sale of investments 428,515 100,984
Purchase
of investments		 ~198938
Net cash (used in) / provided by investing 921 508 739900
activities
Change
in cash and cash equivalents		 in the 237 024 63214
reporting
period
Cash and cash equivalents at the beginning (b) ~17
ofthe reporting
period
Cash and cash equivalents at the end ofthe (b) 1 188331
reporting
period
a)
Reconciliation
of net		 income (expenditure) to net cash flow from operating activities
Net income/(expenditure)
for the reporting		 (16,264) (208,049)
period (as per the Statement of Financial
Activities for:
Dividends
and interest from		 investments (638,923) (585,908)
(Increase)/decrease
in debtors		 16,883 (9,627)
(Decrease)/increase
in creditors		 (24,718) 25,712
FRS102pension scheme costs
Contribution
to pension scheme
deficit		 ~21 462 ~25 242
Net cash (used in) / provided by operating 684484 803 114
activities
b)
Analysis
of cash and		 cash equivalents
Cash on fixed term deposit
Cash at bank and in hand 1 188331 951 307
1 188331 951 307
Total cash and cash equivalents
Analysis
ofchanges
in net debt
Cash and cash equivalents at 1.4.22 951,307 1,014,521
Cash Flows
Cash and Cash Equivalents		 at 31.3.23 237 024
~1:Q1		 ~63214
19

Grants
(Note		 Grants
(Note		 Project
costs		 Direct
Costs		 Support
costs		 Governance
costs		 2023
Total
20)
E E
Costs ofraising
funds
Investment		 15248 15248
management 15248 15248
Charitable
expenditure
Grant making
Agencies support		 315,500 110560 - 79,513
79513		 27 426
27 427		 422439
217500
(Projects)
TOTAL		 315
~31		 500
5 0		 110560
~56		 ~12 159026
~15		 54 853
~3		 639939
~17
EXPENDITURE
Comparative
Expenditure For
2022 Grants Project
Costs		 Direct
Costs		 Support
Costs		 Governance
Costs		 2022
Total
E E E E E E
Cost ofraising
funds
Investment		 15248 15248
Management
Charitable		 15248 15248
expenditure
Grant making
Agencies Support		 344,202 241 133 72,703
72 703		 24,234
24 234		 441,139
338070
(Projects)
TOTAL		 344 202 241 133 15248
~1		 145406 48468 779209
~74 7
EXPENDITURE

2023 2022
Support costs comprise: K
Overheads,
secretarial
and accounting		 95,665 83,038
services
Legal fees
Subscriptions
Bank charges
Interest costs (DB		 44
630
692
2,250		 48
893
3,756
750
pension scheme)
Staff costs		 59745 56 921
~15 ~1454
Governance
costs comprise:
Overheads,
secretarial
and		 31,888 27,679
accounting
services
Legal fees
Subscriptions
Bank charges
Interest costs (DB pension scheme)
Staff costs		 14
210
2,076
750
19915
~54		 16
298
1,252
250
18973
~468

NET EXPENDITURE NET EXPENDITURE
Is stated after charging: 2023
E		 2022
E
Auditor's remuneration - audit ~12
TAXATION

work ofagencie
s
in		 supporting
homeless
persons:
2023f 2022f
Leadership Programme 13,200 27,514
Homelessness
Awards		 43400 49400
Totals 56600 76914
These amounts are deducted
from the total spend on these projects to reflect the		 amount
of
LHF committed during the year. The net totals are shown in Note 5for expenditure on these
projects during the year.

NVEST ME NT
IN SU		 BSIDIARY UNDERTAKIN G
Charitable Company
2023
f		 2022
Shares in subsidiary undertaking J11Q 1K

11 QUOTED INVESTMENTS QUOTED INVESTMENTS
2023 2022
E E
Market value at 1 April 2022 14,516,290 14,322,860
Disposal Proceeds (428,515) (100,984)
Purchases 198,938
Net (loss)/gain
on investment		 assets ~1257455 306 141
Market value at 31 March 2023 1302 2 8 ~4'~Q
Historical cost at 31 March 2023 12782 838
Historical cost at 31 March 2022
These investments
comprise:
Property
Funds		 450,272 533,796
UK government
stock		 1,.214,076 1,777,683
Bond Funds 3,374,553 3,635,769
Direct Bond Investment 875,759 860,810
Equity Funds 6,399,626 6,816,180
Direct Equity Investment 714962 892 052
~13 2L248 14~1~2
12 DEBTORS
Amounts
receivable		 within one year:
2023 2022
E E
Other debtors 30,014 53,209
Accrued income and prepayments 41 087 34775
13 CREDITORS
Amounts
falling due		 within one year: 2023 2022
E E
Due to subsidiary
undertaking		 100 100
Other creditors 46,164 36,279
Accruals 10500 45 101
6764 81480

Allotted, called up and fully paid:
At beginning
ofyear
Shares cancelled
during year
Shares issued during year
At end ofyear

2023 2022f
Balance at start ofyear 68,157 68,157
Less: Spend during year
Balance at end ofyear 68 157 68 157

NSION RESERV E
2023f 2022f
Balance at start of year 129,000 88,000
Less: Contributions to past deficit 21,462 25,242
Add: Increase/(Decrease) in deficit valuation ~I1 462 ~66 242
Balance at end of year ~1190 0

31 March 2023 31 INarch 2022
(f000s) (f000s)
Fair Value of plan assets 515 647
Present value ofdefined benefit obligation 634 776
Surplus (deficit) in plan (119) (129)
Unrecognised
surplus
Defined benefit asset (liability) to be recognised (119) (129)
Deferred tax
Net defined
benefit asset (liability) to be recognised

Period ended Period ended
31 March 2023 31 March 2022
(f000s) (FOOOs)
Defined benefit obligation at start of period 776 850
Current service cost
Expenses 2 2
Interest expense 21 16
Member
contribution
Actuarial losses (gains) due to scheme experience 48 (4)
Actuarial losses (gains) due to change in demographic (2) (16)
assumptions
Actuarial losses (gains) due to changes in financial (168) (31)
assumptions
Benefits paid and expenses (43) (41)
Liabilities acquired
in a business		 combination
Liabilities extinguished
on		 settlements
Losses (gains) on curtailments
Losses (gains) due to benefit changes
Exchange rate charges
Defined benefit obligations at end of period 634 776

Reconciliation
ofOpening
a
of Plan Assets		 nd Clos ing Balance s ofthe Fair Value
Period ended Period ended
31 Nlarch 2023 31 March 2022
(K000s) (E000s)
Fair value of plan assets at start of period 647 762
Interest income 16 15
Experience
on plan assets (excluding		 amounts (131) (116)
included
in interest income) —gain(loss)
Employer
contributions		 24 27
Member contributions
Benefits paid and expenses (43) (41)
Assets acquired
in a business		 combination
Assets distributed
on settlements
Exchange rate changes
Fair value of plan assets at end of period 515 647

Defined Benefit Costs Recognised in Statement ofComprehensive in Statement ofComprehensive in Statement ofComprehensive
Income (SOCI)
Period from Period from
31 March 2023 31 March 2022
(K000s) (E000s)
Current service cost
Expenses
Net interest expense
Losses (gains) on business
combinations
Losses (gains) on settlements
Losses (gains) on curtailments
Losses (gains) due to benefit changes
Defined benefit costs recognised
in statement		 of
comprehensive
income (SoCI)
Defined Benefit Costs Recognised in Other Period ended Period ended
Comprehensive
Income		 31 March 2023 31 March 2022
(E000s) (E000s)
Experience
on plan assets (excluding		 amounts (131) (116)
included
in net interest cost) —gain(loss)
Experience
gains and losses arising on the		 plan (48)
liabilities —gain(loss)
Effects of changes
in the demographic		 16
assumptions
underlying
the present value of the
defined
benefit obligations
—gain(loss)
Effects of changes
in the financial
assumptions		 168 31
underlying
the present value ofthe defined
benefit obligation —gain(loss)
Total actuarial gains and losses (before
restriction
due to some ofthe surplus
not being		 (65)
recognisable) —gain(loss)
Effects ofchanges
in the amount ofsurplus		 that
is not recoverable
(excluding
amounts		 included
in net interest cost) —gain (loss)
Total amount recognised
in other		 ~65
comprehensive
income —gain(loss)

Assets
31 March 2023 31 March 2022
FOQOs ROQQs
Global E uit 10 124
Absolute
Return
Distressed 0		 rtunities 16 26
23
Credit Relative Value 19 22
Alternative
Risk		 Premia 21
Fund ofHed e Funds
Emer
in
Markets Debt		 19
Risk Sharin 38 21
Insurance-Linked Securities 13 15
Pro ert 22 17
Infrastructure 59
Private
Debt
0
ortunistic
llli		 uid Credit 23
22		 17
Cor orate Bond Fund 43
Hi
h Yield
0
ortunistic
Credit
Cash
I.i uid Credit
Lon
Lease Pro		 ert 15 17
Secured Income 24
Over 15Year Gilts
Index Linked
All Stock Gilts
Liabilit
Driven		 Investment 236 181
Currenc
Hed		 in
Net Current Assets
Total Assets 515 647

Key Assumptions
31 March 2023 31 March 2022
%per annum %per annum
Discount Rate 4.92 2.75
Inflation (RPI) 3.19 3.94
Inflation
(CPI)		 2.56 3.36
Salary Growth 3.56 4.36
Allowance for commutation ofpension forcash 75%of maximum 75%ofmaximum
at retirement allowance allowance

he mortality ass umptions
adopted
at 31 March 20		 23 imply the following
life expectancies:
Life expectancy at
age 65
(Years)
Male retiring in 2023 21.0
Female retiring in 2023 23.4
Male retidng in 2043 22.2
Female retiring in 2043 24.9