## ## |Trustees||Mr YOkinaga||||| |---|---|---|---|---|---|---| |||Dr H Okinaga||||| |||Mr YYoshida||||| |||Mr A Isihara|||(Appointed|1 April 2022)| |Secretary||Mr Y Kono||||| |Charity number||1001232||||| |Company|number|02540502||||| |Registered|office|Framewood|Road|||| |||Wexham||||| |||Buckinghamshire||||| |||United
Kingdom||||| |||SL24QS||||| |Auditor||Azets Audit Services||||| |||Suites B & D||||| |||Burnham
Yard||||| |||Beaconsfield||||| |||Bucks||||| |||Hpg 2JH||||| |Bankers||National
Westminster||Bank Pic||| |||250 Bishopsgate||||| |||London||||| |||EC2M 4AA||||| |Investment|advisers|The Pictet Group||||| |||Banque Pictet &Cie SA||||| |||Route des Acacias 60||||| |||1211Geneva|73|||| |||Switzerland||||| |Key Executives||||||| |Headteacher||Ms F Nelson||||| |Chief Executive Officer||Mr Y Kono||||| ## ## ||||Page| |---|---|---|---| |Trustees'
report|||1-5| |Statement
oftrustees'|responsibilities||| |Independent
auditor's|report||7-9| |Consolidated
statement|offinancial|activities|10| |Consolidated
balance|sheet||| |Balance sheet|||12| |Consolidated
Statement
ofcash flows|||13| |Notes to the financial statements|||14-27| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Unrestricted| |---|---|---|---|---|---| |||||funds|funds| |||||2022|2021| ||||Notes|6|6| |Income and endowments||from:|||| |Donations
and legacies|||3|39,531|62,696| |Charitable
activities|||4|1,474,613|1,803,348| |Investments|||5|26,164|44,872| |Government
grants|||6|1,738|73,575| |Total Income||||1,542,046|1,984,491| |~E*
dit|||||| |Charitable
activities|||7|3,008,378|2,770,527| |Net gains/gosses)|on investments||11|712,675|518,328| |Net expenditure
for the||year/|||| |Net outgoing
resources||||(753,657)|(267,708)| |Other recognised|gains|and losses|||| |Other gains or losses|||12||(35,989)| |Net movement
in|funds|||(753,657)|(303,697)| |Fund balances at 1 April 2021||||13,626,797|13,930,494| |Fund balances at|31 March 2022|||12,873,140|13,626,797| ## ## ## ||||2022|2021| |---|---|---|---|---| |||Notes||6| |Fixed assets||||| |Tangible assets||13|326,043|265,279| |Investments||14|7,047,958|8,818,7BO| ||||7,374,001|6,884,039| |Current assets||||| |Debtors||1S|1,585,382|1,583,732| |Investments||18|4,000,000|8,000,000| |Cash at bank and in|hand||1,772,142|974,086| ||||7,337,524|8,637,818| |Creditors: amounts|falling due within|||| |one year||17|(1,838,385)|(1,795,060)| |Nst ourrent assets|||6,499,139|6,742,768| |Total assets less current liabilities|||12,873,140|13,626,797| |Income funds||||| |Unrestricted
funds|||12,873,140|13,626,797| ||||12,873,140|13,626,797| ## ## ## ## |||||2022|202'I| |---|---|---|---|---|---| ||||Notes|6|6| |Fixed assets|||||| |Tangible assets|||13|326,043|286,279| |Investments|||14|7,047,969|6,618,761| |||||7,374,002|8,884,040| |Current assets|||||| |Debtors|||15|1,597,953|1,683,139| |Investments|||16|4,000,MO|8,000,000| |Cash at bank and In|hand|||1,601,107|837,998| |||||7,199,060|8,401,137| |Creditors: amounts|falling due within||||| |one year|||1?|(1,520,472)|(1,479,047)| |Net current assets||||5,678,588|6,922,090| |Total assets lees current liabilities||||13,062,690|13,806,130| |Income funds|||||| |Unrestricted
funds||||13,062,690|13,806,130| |||||13,052,690|13,806,130| |The financial statements||were approved|by the trustees|+cp"
on $~...Bk......
&|| ## ## ## |||||||Group||Company|| |---|---|---|---|---|---|---|---|---|---| |||||||2022|2021|2022|2021| ||||||Notes||f|f.|6| |Cash flows from operating|||activities||||||| |Cash absorbed
by operations|||||30|(1,347,134)|(1,380,828)|(1,382,052)|(1,329,790)| |Income taxes paid|||||||(427)||| |Investing|activities||||||||| |Purchase|oftangible|fixed assets||||(164,450)|(186,827)|(164,450)|(186,827)| |Proceeds|on disposal|oftangible||fixed|||||| |assets|||||||1,430||1,430| |Proceeds|on disposal|of investments||||4,993,622||4,993,622|| |Purchase|ofother investments|||||(4,710,145)||(4,710,145)|| |Proceeds|on disposal|ofother investments||||2,000,000|1,000,000|2,000,000|1,000,000| |Interest received||||||6,718|44,873|6,689|44,ese| |Dividends|received|||||19,445||19,445|| |Net cash|generated|from investing|||||||| |activities||||||2,145,190|859,476|2,145,161|859,461| |Net cash|used in financing||activities||||||| |Net decrease
in cash and|||cash|equivalents||798,056|(521,779)|763,109|(470,329)| |Cash and|cash equivalents||at beginning||ofyear|974,086|1,495,865|837,998|1,308,327| |Cash and|cash equivalents||at end of||year|1,772,142|974,086|1,601,107|837,998| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2022|2021| ||||E|E| |Donations|and|gifts|39,531|62,696| |||||Charitable|Charitable| |---|---|---|---|---|---| |||||Income|Income| |||||2022|2021| |||||E|E.| |School|and|college fees||526,089|890,555| |Other income||||948,524|912,793| |||||1,474,613|1,803,348| |Investments|||||| |||||Unrestricted|Unrestricted| |||||funds|funds| |||||2022|2021| |||||E|E| |interest|on|bank deposits|and investments|6,719|44,872| |Dividends||received from|fixed asset investments|19,445|| |||||26,164|44,872| ## ## ## ## ||||||||Unrestricted|Unrestricted| |---|---|---|---|---|---|---|---|---| ||||||||funds|funds| ||||||||2022|2021| ||||||||6|f| ||Government||grants||||1,738|73,575| ||Government||grants represents|||the money received under the Coronavirus|Job Retention
Scheme.|| |7|Charitable|activities||||||| ||||||||Charitable|Charitable| ||||||||Expenditure|Expenditure| ||||||||2022|2021| |||||||||6| |Cost|ofcharitable||activities|||||| ||Staff costs||||||1,497,460|1,499,461| ||Bad and doubtful|||debts|||190|| ||Electricity||||||99,061|78,029| ||Gas||||||91,280|93,052| ||Rates and council|||tax|||31,992|30,624| ||Water rates||||||70,279|264| ||Catering||||||177,129|125,859| ||Transport||||||109,057|111,791| ||Estate management||||||12,340|10,089| ||Redecoration||and|refurbishment|||260,125|305,165| ||Short course||expenses||||158,639|139,720| ||Bank charges||||||2,636|2,895| ||||||||2,510,188|2,396,949| |Support costs ofcharitable|||||activities|||| ||Grants payable||||||60,096|500| ||Professional||support costs||||198,860|123,231| ||Depreciation||and|impairment|||103,687|64,248| ||Loss on disposals|||||||1,249| ||Management||and|administration|||117,486|167,337| ||||||||480,129|356,565| |Governance
costs||||||||| ||Audit fee||||||18,061|17,013| ||Taxation|||||||| ||||||||18,061|17,013| ||||||||3,008,378|2,770,527| ## ## |Donations|and grants|payable|||| |---|---|---|---|---|---| |||||Charitable|Charitable| |||||Expenditure|Expenditure| |||||2022|2021| |||||f|f| |Other donations||||96|500| |Donations|to Wadham|College, University|of Oxford|60,000|| |||||60,096|500| ## ## |The average
|monthly
number ofemployees
during t|he year was:|| |---|---|---|---| |||2022|2021| |||Number|Number| |Teaching staff||20|24| |Domestic staff||20|22| |Administration|staff|5|5| |Catering staff||8|8| |||53|59| |Employment|costs|2022f|2021
f.| |Wages and salaries||1,412,498|1,409,128| |Staff pension costs||84,962|90,333| |||1,497,460|1,499,461| |Net gains/(los|ses)|on inve|stments||| |---|---|---|---|---|---| |||||Unrestricted|Unrestricted| |||||funds|funds| |||||2022|2021| |||||f|f| |Gains/(losses)|on|long-term|investments|712,675|518,328| ## ## ## |12|Other gains|or losses|or losses||||| |---|---|---|---|---|---|---|---| |||||||Unrestricted|Unrestricted| |||||||funds|funds| |||||||2022|2021| |||||||f|f| ||Profit or loss|on foreign exchange|||||35,989| |13|Tangible Axed assets||||||| ||Group and company||||||| |||||Fixtures and|Computers|Motor vehicles|Total| |||||tlttlngs|||| |||||f|||| ||Cost||||||| ||At 1 April 2021|||1,523,735|494,286|195,680|2,213,701| ||Additions|||67,750|96,700||164,450| ||At 31 March|2022||1,591,485|590,986|195,680|2,378,151| ||Depreciation|and impairment|||||| ||At 1 April 2021|||1,471,575|301,556|175,290|1,948,421| ||Depreciation|charged|in the year|31,569|62,164|9,954|103,687| ||At 31 March|2022||1,503,144|363,720|185,244|2,052,108| ||Carrying
amount||||||| ||At 31 March|2022||88,341|227,266|10,436|326,043| ||At 31 March|2021||52,160|192,729|20,390|265,279| ## ## ## |Group and company|Group and company||||||| |---|---|---|---|---|---|---|---| ||||||||Fixed asset| ||||||||investments| |Cost or valuation|||||||| |At 1 April 2021|||||||6,618,760| |Additions|||||||4,710,145| |Valuation
changes|||||||751,614| |Disposals|||||||(5,032,561)| |At 31 March 2022|||||||7,047,958| |Carrying
amount|||||||| |At 31 March 2022|||||||7,047,958| |At 31 March 2021|||||||6,618,760| |Add: shareholding
in
(50,000 shares offt||subsidiary
undertaking
less provision
for impairment|||649,999)||| |Total market value|at|31 March|2022||||7,047,959| |Historical cost as|at 31 March||2022||||3,607,405| |(a) The following
percentages|||represent|the investment||porifolio by market value:-|| ||||||||2022| |NIS CO Pop Prophet||Opp Partnrs
USD|||||12.14%| |Nis Credit Opp Indian||Distress|USD||||9.81%| |NISARB EUROPEAN||DISTRESSED OPP.E|||||| |NIS INDRA FUND|LTD A USD-ACC||||||0.81%| |NIS INDRA FUND|LTD D USD-ACC||||||21.49%| |NIS INDRA FUND|LTD E USD-ACC||||||51 94'/| |NIS CHANDRA
A|USD -ACC||||||3.81%| ## ## ## ## ## ## |Debtors|||||||| |---|---|---|---|---|---|---|---| |||||Group||Company|| |||||2022|2021|2022|2021| |||||E|E|E|| |Amounts|falling due within||one year:||||| |Trade debtors||||85,931|15,958|75,509|15,768| |Amounts|due|from connected|company|1,430,320|1,423,186|1,473,313|1,423,186| |Other debtors|||||5,182||4,779| |Prepayments||and accrued income||49,131|119,406|49,131|119,406| |||||1,565,382|1,563,732|1,597,953|1,563,139| |Current|asset investments||||||| |||||Group||Company|| |||||2022|2021|2022|2021| |||||E|E.|E|E| |Bank deposit||accounts||4,000,000|6,000,000|4,000,000|6,000,000| ## ## ## |17|Creditors: amounts|Creditors: amounts|falling|falling|due within one year|due within one year|||||| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||Group||Company|| |||||||||2022|2021|2022|2021| |||||||||f||f.|f| ||Other taxation and social|||security||||52,862|64,985|52,862|64,985| ||Deferred|income||||||463,524|374,137|463,524|374,137| ||Trade creditors|||||||209,972|239,092|209,972|239,092| ||Amounts|owed to Teikyo||University||ofJapan|1,083,328||1,083,328|769,315|769,315| ||Accruals|||||||28,699|33,518|24,799|31,518| ||||||||1,838,385||1,795,060|1,520,472|1,479,047| |18|Deferred|income|||||||||| ||Group and company||||||||||| |||||||||||2022f|2021f| ||Arising
from school||fees|||||||463,524|374,137| ||Deferred|income is|included||in the|financial statements||as follows:|||| |||||||||||2022|2021| |||||||||||f|F| ||Deferred|income is|included||within:||||||| ||Current
liabilities|||||||||463,524|374,137| ||Movements
in the year:||||||||||| ||Deferred|income at|1 April 2021|||||||374,137|1,000,987| ||Released|from previous||periods||||||(379,557)|(1,001,264)| ||Resources deferred||in the year|||||||468,944|374,414| ||Deferred|income at|31 March 2022|||||||463,524|374,137| ## ## ## ||Group||Company|| |---|---|---|---|---| ||2022f|2021f|2022
f|2021f| |Within one year|6,796|7,915|6,796|7,915| |Between two and five years|2,166|9,923|2,166|9,923| ||8,962|17,838|8,962|17,838| ## ## ## ## ## ## |Name|ofundertaking|Registered|Nature of|business|Class of|Class of|% Held|| |---|---|---|---|---|---|---|---|---| |||office|||shares|held|Direct|Indirect| |Teikyo|Services (UK)|Teikyo Foundation|Operation|ofschool shop|Ordinary||100.00|| |Limited||(UK), Framewood|and letting|ofschool's||||| |||Road, Wexham,|facilities|||||| |||Buckinghamshire,||||||| |||SL24QS||||||| ## ## ## ## ## ## ## ## |||||||Group||Company|| |---|---|---|---|---|---|---|---|---|---| |||||||2022|2021|2022|2021| |||||||f|f|f|f.| |Deficit for the year||||||(753,657)|(267,708)|(753,540)|(265,739)| |Adjustments
for:|||||||||| |Taxation charged|||||||||| |investment
income recognised|||in statement||of||||| |financial
activities||||||(26,164)|(44,872)|(26,135)|(44,857)| |Foreign exchange differences|||||||(35,989)||(35,989)| |Gains on investments||||||(712,675)|(518,328)|(712,675)|(518,328)| |Depreciation
and impairment|||oftangible|fixed|||||| |assets||||||103,687|64,248|103,687|64,248| |Movements
in working||capital:|||||||| |(Increase)
in debtors||||||(1,650)|(121,105)|(34,814)|(124,042)| |Increase/(decrease)|in|creditors||||43,325|(457,074)|41,425|(405,083)| |Cash absorbed
by|operations|||||(1,347,134)|(1,380,828)|(1,382,052)|(1,329,790)| ## ## ## ## ## ## ## ## ## ## ## ## ##