AGON SHiJ iIK REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Charity Registratior) Number 1050059 AGON 8HU UK REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 PIARCH 2025 Contsnts Pagos R•port8 Referenc8 arKI administrative infomiation Ex8CUtlve Committ00 report IrKJependant examinerfs rep)rt Ac¢ounts Statement of Ilnaniial adivltiés Balanc8 sf*et Plnc4pal accourrtlng pollo88 Notes to the arr￿Unts AGON SHU UK REFERENCE AND ADMINISTRATIVE INFORMATION RogiBt•r•d ChafTty Name Ag(￿ Shu UK R•glstsrod Charfty NUrn￿r Chanty numbar 1050059 EX•¢ut1￿ Commlttéè ofTrnst4•8 N Wada Y Fujii Y Mrttl￿7 R•gl8ternd Offlc• 45 Wo(xJberry Way L(mdon E4 7DY Webslto Ind6p•nd•nt Examin•r P W Hill FCA Hillyam Chartered hrmjntants **• Hill House, 27 MeadoVA￿d Newport. Saffron Walden Es88x CBI13(X Bank•rn National Westminster Barhk PIC 46 High Street BrentNrt)tJJ Essex CM14 4AL 8ollcltors Bates Wells Brdithwaite 10 Queen Street Place London EC4R 18E AGQN 8HU UK REFERENCE AND ADMINISTRATIVE INFORMATION Rogi3t•rad c￿rtty Nam• Shu UK R•gl$térod Charhy Number Chanty number 1050059 Ex•cutfv• Commlttéè of Trnsté•s N Wada Y Fujii Y Mit¢1￿7 R•gl8tarad Offlc• 45 WoLJlbery Way L(NKlon E4 7DY Wobslts Ind•p•nd•nt Examinw P W Hill FCA HillYat￿ Chartered kn￿ntantS Hill House, 27 meado￿￿1 Newport. Safth Walden E$89x C8113(X Bank•rn Nats'onal Westminster Bar%% Pl 46 High Street BrentNrtxyJ Essex CM14 4AL 8ollcltor• Bates Wells Braithwaite 10 Queen Street Place London EC4R 18E AGON SHU UK EXECUTIVE COMMITTEE REPORT Thg Executiv8 Committ88 ol TnJstee5 W8sents its report and accounts of the Trust for the year ended 31 March 2025. The ac￿Unts have been prepar&l in actordanGe with the a0￿Unting poliii8s set out on page 7 of the attached accounts and rTh)ply wlth the Trusfs govemiry doujment and Accounting and ReFx)rhng by Charities: Statement of R8comrn8nded Praclice appllcatrJ8 to charTti8s preparing their aC4￿UnIS in ac£ordance the Financial Reportiro Stsndard applicable in the UK and Republic of Ireland (FRS 102>, eff￿￿"ve Irryn alxounting ￿ri￿j$ commenGirg 1 January 2015 or laler. Objoctlvo of thè charlty The Trust adopted its constitijtion on 7 Octobw 1995 and is goveme(I by a d8finitive Consti￿tiOn 8fxI Rules datad 7 October 1995, amendad 23 July 2CK11. Th8 Trust is a r8gister8d chanty. urKler number 1050059. Trle Trust's principal addréss ts now at 45 Woodbery Way, LorKlon and is th8 UK branch of a wider charity wlh its head office in Japan. The objective of the c*arity is to advance relig￿ in acwrdarKe with the origlnal Buddhlst dOCtrir￿ 8nd methLxJs of Agon Buddhisrn. Al daci￿on8 are made by Ihe Trustees. In ptanning the activbties for the year and for th8 future. Exe¢ulive Committ8e Members conlnn that they have wrnplie(J wth the duty in Sect￿￿ 17(5) of th8 Charities Act 2011 to hava due r8gard to publlG bgn8fi1 guidance published by th6 Chanty Ccmmission. A￿l•W of actlvhl•*, achl•vom•nts and p•rfrymanc• Throughout the yèar, the charfty collèctsd sub8crfpttons from its members and r￿1Ved g8rw)us donations. ExoCUtlv• Commltlo• of TTusl•o• The Russlan invasion of Ukrain8 and the war betsv88n Israel and Hamas contrnue to this day and have 8 malor Impact on sodety. The global politic81 sliuation remains very unstsble, and various infeclious diseas8 sYiS8S have boen brought to our attgntson. wlth the sttuatbn remalnlng unpredlcaable. Amidsl these orc¢Jmstanc8s. w8 have ￿ntInued lo maintain (x)mmunication viiUI our members through emails, tel8pkK)ne ca118, online tods. home wsrts. and galherings. We 8150 continue to offer astro￿1¢81 consultats'ons. arrangements for Sp￿la1 servlcw, and requests ftjr special wayor3. All rn8￿r Agon Shu evonls held in Japan are broad(xst via streaming seNices, arKI wa regulaty provid8 reports on soclal developmonts in Europe. In recent years, natural disasters have 81$0 been incrwng globally. In Japan. the Noto P8ninsul8 Earthquake in January 2024 resull8d In numerous G8suallios, and in September Ihe same region suffered devastating fl¢Jod damag8 due to heavy r81nfall. Around the worfd. we ￿ar I￿vent rep￿ts of disasters such as forest fire3. hurri¢aneg, toma(ioes, heavy sr¥)vhall, and fFc(*Js. Ai Agon Shu, we have long eonduct8d Goma firo rituals lor worfd peace and earthquake $8lety. Among other intentions. The Eurc4)ean branch also gathers prayers through the dedication of Goma prayer sticks. As part of our core Services for npmÈer5 of the European branch. we share monthly regular Goma ceremonies and annual ovents such as the Stsr Fe3tiva throtyJh live int8met broadc%sts. thereby unlting our prayers. Th5s ye8r, in 8ddilion to our wular evènts, th8 following ceremoniès y￿? t￿Jadcast live, ￿[cAVing members to partlripgte from thgir homes.. May 1 &20.. S8cr&l Fire Rituals at Kumano shri￿ within KUrnar￿ Sanzan, 'Prayer for safety of Earthquake and Tsunami aThJ Wortd Peaog". July 13.. Th8 lantem memorial service at the Tokyo br8nch. July 15.. The lantem memorial serviGe Chidorigafuthi Nkn'onal Can*ry in Tokyo. August 14.. The lantem memorial $erviG8 * Kyoto Main temple. October 13.. Tme 9th MenKyial Anniversary Grand Nirvana Ceremony for thg Founder at tho maln tsmple. Nov8mb8r 3.. Osaka Kashiwara Sa(Y8d Fire Cemetery"Prayer for Protection from a Great Nankai Trough Earthquako and Tsunami.. Simultaneous CerermnI￿ V•we also held in Shizuoka and Mryazakl, l¢xated at Ihe easlem and westem end5 of the N8nkai Trough. December 31.. New Yeals Eve BelkRir*Jir& CereffKMy at lh8 main Temple. January 12025.. New Yea￿S fire Ceremony. Janugry 19.. Founderfs &rthday Celebration {104th Anniversary). February 9: The 52nd Star Festival Grand Sacred Fire Ritual 8t Kyoto Main temp18 Site. with one partidpant 8tt8nding from Europe. On 10 October, a trustee ol (￿r tharity attended tho SAOS Pr8SKl8rfs R8ceW'on as a representabvo of the Intematlonal D8partmont. Our Annual General was hetd i)n the afternc￿l ol Saturday. 7 Oecemb8r. Thvuughout the year. the charity coll*d subscriptiorw from its membets and received generous donations. AGON SHU UK EXECUTIVE COMMITfEE REPORT EX￿lIve Commltta• *)f Tru810 Members of the Execjjtive Committee ar8 Trust88s and those rrembers who served during lh8 year vRre N Wada, Y Fujli and Y Mitchell. Th8 Executive Committee is elected by the rTwibers at the Annual Ger￿ra1 Meeting Nominations for election lo th8 Executive Committee may be made by members of Shu UK In writing lo the seGretary at18ast 14 days before th8 Annual General Meetiw. If nominations exceed ihe number of vacancies, then election is by ballot. The Executive Committee may appoint, at a speoal meetiTrJ, not more than two owted rn8mb8fs so long as the number of cxFopted members does not make up rrK)re than one third of the memters of th8 rx)mmtttee. Ravlew of flnanclal pojltlon CurrenUy, thB search for a new property has beon put on hold. We intend to monitor future devebpments carefully. m8intsin a b81an¢ed budget. Strengthèn our financial base, 8nd crnts'nue our missionary through th8 use of intemet broadcasting and Mline tools. Under the FinanLyal Services Compensallon Schame. deFX)sits are wotect8d up to a combined maximum of £85.000 per Individual p8r finanoal institution (approxirnaiely 17 millts)n yen). Any amounts exceedlng this limlt may be subjoct to risk. dep8ndiThJ on the ststus of the fai18d financlal institution's remaining assets, aNI c￿1￿ result In partial norkrepayment. To mwte this ri3k. we opened a current account bwth U￿S 88nk In Dec8mb8r 2024, and a h￿lFIntereSt.9s-daY rrf)tice' account in January 2025, to ensure M￿muM yoteCt￿ of funds. StYn8 transf8rs from N8tW8St to Lbyds Bank have already be8n 1￿mPlated, wlth lull C4>m￿tiOn expectsd by May ￿25 Ip8nding tran8f8rs from the Natwest 9>Day Nolice accounti. The Board of Trustees contlnues lo work tjillgenty to min5ni8e expenditures and cyerntion81 o)sts, vthile 8tr8ngthenlng and preserving our assets Plan• for tho future We will continue to mnrtor Inlormation rogarding global IThAthfoaks of infec*iou8 diseases, epidemics, and economic Impacts ¢8U88d ty wars. and. when kn'me Is righl Seek suitable propérdes within budget. Our advllSes w111 contlnue to be supp￿￿ by irtemet bro*h*'ng arnl Lmllng tcds to provide members wth th8 late updates and to further our rni$sionary work. We also plan to contlnue responding to requests for'House Purificatlon Rltuals" lor th8 8Piritual deansing ol prtvate Pmyneg and local ar&%. R•80rvM Poll¢y The r£s6N8 fund r8malns stable. W8 wll continuè to reduce opèr8tKJn81 o)sts by maklng use of storage faeiliti88 and remote working. thus strengt1￿lrvJ the reserve ￿nd. The reserve fund is c8lcutated based on tho annual operallonal expenses. Currently, we hold ordlnary current accounts. and three liquidty manager notic* accounts. arKI income from interest is increaslrvJ. Rl•k factor• The e¢onomi¢ impacts of the Ru8sia-Ukraine and the cy)nflit in the Middle Ea8t 8r8 s8ver8. resulkn'ng In Sogflng prfces and noticea￿8 rapid infiabon. Sharp inu8ases in warehouse rental fees. utility bills. postsl charges. arKI transport costs are puttlTrJ PfwJsure on financ88. while the affrf)unt of annual donat￿5 remains uncertain. Presenliy. operatior6 are ry)nduded in rent-free premises. with the addi1Th181 usg of rental storage to minlrnisè exFenses. Given the current re￿w0n. the pandemic SItua￿on. contxms over reglonal security, we believe that minimising expenditures aThJ securfng fUr￿S is the best stratgjy for eventually ffindlrvJ a more suilabl@ facilty. ST Approved by the Exècutiv8 Committ88 on 31 0¢t¢¥¢r￿]sar￿J 8igned on its b8half by.. Trustee AGON SHU UK INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 TO THE TRUSTEES OF AGON SHU UK I réport to the truste￿ on rny 8xamlnalion of th8 acLx)unts ol W Shu IX IYh8 trusf} for the year ended 31 March 2025 which comprise the ststemenl of Financial Acti¥iti8s, the Balan￿ Sh88t and related notes on pages 5 to 9. This r6port is made solely to the d)aiiVs trustees, as a bfyty. in aLrordance with se￿10n 43 of the Charities Act 1993. My work has been undertaken so that I might state to Ihe charivs tn￿lee$ tfrf)se matter51 am required to stat8 to them In thls port and for rK> olher purp)se. To the fullest extent permitted by law, I do not a￿pt or assum8 responsibility to anyone other than the charity arKJ the ¢hariVs trustees as a body. for my ￿tsrk. for thls roport. or lor tha oplnlons I have forn￿1. Rasponslbllltlm and ba818 of fVK•rt A8 IN8tees of the charfty, you are reSpCy￿t￿8 for preparation of tha A￿￿)unts in aca(dance with roquiram8nts of the Charities Act 2011 {'the Ad'}. I report In réspéel of my examination of thè chafivs aeoyjnts ￿rried out under 145 of the Act and In ¢8￿ng aut my &xamlnation I h8va followed all the applicAbl8 Directions given by th8 Charity CommissK)n under gertion 145{51(b) of An Independent examinalton does wt invdve g8therirvJ all th8 wdonc8 that would ￿ required in an audit and Consequently d096 not LX)ver all the mattors that an auditor corriders in givirvJ their OFinion t)n the accounts. The plannlng and Condu￿ of an audit goes bèyond thè Ilmited assurance that an indwndent examinab.on can provide. Consequently, l express no opinion 89 lo wfEthèr tho a¢￿Unts present a 'true and fair. v￿W 8nO my report is Ilmited to those speclflc mattérn set out in th8 indép8nd8nl 8xaminerfs statement. Indepondonl •xarnlnefs statomont I confirm that l am qualified to urKl8rtake the exarywnatim because l am a memb8r of the IChEW vthlth Is ono of the listed bodles. I have completed my examinati￿, I cmfirm that w material mattors have come to my attenlon In connectlon th8 examlnatlon glvlng me cause to b8lleve that in any mated81 resF*d: acthuntiNJ reconls were not kept in re8PeCt of the chanty as rw4uired by s￿tk)n 130 of tho Acl,. or the 8r£ounts do not acccrtd with those records; or tho accounts do not compty Trmth th8 applicxble requiroments concamifVJ the form and Content of accounts set tyjt in the Charities {Accounts and Rewrtsl Regubations 2008 r)ther than any requirement that the accounts glvo a 'tru8 8rKI lair view vthich is not a matter ¢onsid8red as part of an indep8nd8nl examination. I conflrn that I have come attoss no other matters In c¢nn8ction with the 8xamination to whith attenllon shwld be drawn In this rèport in order to anabla a prO￿r und8fStanding of the accounts to be reached. Hiltyates. Chartgred A(xcuntsnts Hlll House, 27 Meadovhord Newport, Saffron Waldon Es8ex, CB113QL Petér Wllliam Hill, FCA Independent Examiner l& 90 AGON SHU UK 8TATEMEKf OF FINANCIAL AGllviTIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Ineomo and •ndowrnnts from: Donations and legacies Income from charitable activities Investfn8nt Ir)(xyn8- bank Irrterest recelved Other Incomo 439 31,953 5,693 286 4,771 26.803 1.084 117 Total Income and endowThnts 44,371 32,775 Exp•ndlture t)n: Expendllure on charttablo adlvti Storag8 costs Postsge, Stationery and cxjmputer expenses Travel, including £1,848 Kyoto Fire F8Stival Dep￿lation Indepandenl exarnlner5 fo68 Offerings Mlsc4llaneou$ exFén8es 9,813 1.270 2201 196 1,320 T.8T2 1,750 2,076 84 1,320 69 82 Total •xpondlturn 1 S,363 13.253 Not Ineom• and n•t IT￿mont In funds 29.008 19,522 Reconclllatlon of lund8 Total unrasthcled funds brought foThv8rd 169.778 150,256 Totsl unroslrlthd funds carTl•d forward 198.786 169, 778 All of the Trust's advities were derfved frc*n c4MtinuirwJ operations during the above hvo ffinancial years. All r8cA)gnlg8d galns ar8 included in tha above statsmant of financial activits8S. AGON SHU UK BALANCE SHEET AT 31 MARCH 2025 2025 2024 Flxad ass•t8 Tangible assets 196 Currnnt ass•ts Prwym6nts - April 2025 storage ry)sts Cash at bank and in hand 199,825 171,521 1TI,521 Cr•dlt4)rn: amounts falling due thin one year (1,906) (1.939) Net currnnt assets 198.786 169,582 Totsl ••••ts currnrt Ilablllllo• 198,786 169. 7T8 Totsl lund• Unrestrricled funds 198,788 169,778 The accounts were approved by the Execajtive Committoe on 3WCJunting policies adoptsd. judg6ments and key s[￿r￿S destimation unc2rtainty in ￿ preparation of th8 acrx)unts are laid oth bekml. Basig ol prnparation These aoJ)unts have been prepared uNler tr* hlstorical cctst convention wlth Items rerLsni5ed at C05t or transactlon values unless att￿se stated in the relevant aco)untiry polioes t*low or the notes to these attounts. Th8 ac£ounts have t￿n prepared in actc*dance vhth Ac¢Aiunts'ng and Reporting by Charittes; Statement of Récommend6d Pra￿(% appllcaljo tD charitie¥ preparing t￿r a(fL)unts vath the Financial Reporting Standard appllcabl8 In th8 UnI180 Kingdom arKI Reput￿lC of IrelarKI (Charities SORP FRS 102). issued on 16 July 2014, Update Bulletin 1 issued on 2 February 2016, the Financial Raportir4J Stsndard appllcablè in the UK and R8publi¢ of I￿land {FRS 102) and thè Chanties Act2011. Agon Shu UK consttlulès a pubiic benefit entity 88 d￿ned by FRS 102. Th8 accounts are prè5Ènted in siertirvJ and aTr r￿r￿led to the nearest pound. Aso•8•monl of golng CO￿ The trustaes have assossed whoth8r the u58 ofthe going Cor￿•M assumpb'on is approprfate in preparing these accounts and havo made this assessment in respect to a penod ofone year from tho date of approval of these accounts. The Centre Is now operaknng in a limited CApa￿ty from rènt frée premlsès pending firKling rrK>re surtable promises from which to r8build its acuvllles and Its r8$8N8s. The Trustses have therefor8 eoncauded that for the nèxt twelvè months th8 chaflty wlll be able tc meet its liabilities as fall due and Ihat the golng ojncem basés ol acu)unting remains appropriats. In¢omg rKognhlon I Income Is included in Stat8m8nt of Financial Actp4iti88 v•hen tho trust is entillad to the irwne and the amount can be quantffied w6th reasonable accuracy. No value Is Indudod In Income or expendtture for the donated by volunteer help prowd8d. Ewndltur• rqcognltlon Uatx'lities are recognised as expendllure 93 85 there is • legal or CO￿tructIve obllgation ccynmlttlng Ihe trust to make a payment to a third party. it is probable that a transfer of eoxomic ljeneffts will be required In settlernnt and the amount ol obligation eAn be m8asured reliably. Charitable expendlture. whlch Indudes Irrecovern￿O VAT. comprises tr￿8 costs In￿rred by the trust In the delivery of Its acttVl￿eS aryj Serv[￿ lor Its benefidaflÈs. Due actiwtsé8 undertaken by trust and CAists it actually Incurs. it Is considered imprgckncable io differentsate between direct and any support (x)sts. Tanglbl• flxed a•s•ts and doprKlallon Al tangible fixed assals ar8 slated 8t cost or 88ttm8tad mark•t value at Iha date of r¢wpt wfmfg the assèt has been donated to the chadty less deprnaalon. DeprecialÈon is prowded at rat88 calculated to vKit8 off the cost less estsmatsd residual value ol each asset over its eXp￿d useful life. as Fixtures, fittings & equipment- Th str&ght line basis Sundry equlpment purchases- iterns coslir¥J less than £250 ￿itten off fft tre year of purchase Accumulatsd fund• The funds held by the trust are unrestricted 9Bneral funds be used In arxordance wlth the charitable objecths at dlscretion of th8 trustees. Rentsls payable under operailng leases are diarged against inoyre on a straight line ba￿S over the perlod of the lease, Cmh flow The accounts do not ir￿ude a cash fl¢)w statement becausè th8 tN5t is exempt fr￿n ts requiremerrt to prepare such a statement urtder the Cha￿￿eS SORP (FRS 102) UFx4ate Bulletin 1. Taxatlon Th& trust is 8 registered charity and therefore is not liable for income tax or corporation tax on In(X)￿ denved from rts charitsble activities, as il falls wilhin the various exemptrons available to registered charitses. AGON SHU UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2025 Donallons and logacles 2025 2024 Donations and gifts Enrolment fees 3,007 1,075 3,432 6,439 3,696 4,771 Incom• from chaTllabh acllvhlos 2025 3024 8,428 9,367 Prayer sticks and tooL8 Prayer s•Mcos Ta118mans and cbamks 9,685 985 9,437 31,953 8, 774 26,803 Exoeutlv• commlttoo of IrustO0• No remuneration was paid, nor any exwnses rewrt)urned to Tfustees dutlng thè y8ar12024 - £ryi4. Employ There ware no employees durlng the year. Shu UK is administered by vduntaers. TaI￿lts1• flx•d a88éts Flxturm. flttlngs & oqulpment Co•t or valuatlon At 1 Aprll 2024 Disposal3 2,413 (2.078) At 31 March 2025 335 Depr•cl•tlon and •mortl•atlon At 1 April 2024 Charge for the year Deletyons 2,217 196 {2,078 Al 31 March 2025 335 Net book value At 31 March 2025 At 31 March 2024 196 Credltor4: amount• falllng due wlthln on• year 2025 2024 Incom8 in advance other creditors and acc￿al5 619 1,320 1,939 1,320 AGON SHU UK NOTES TO THE ACCOUKIS FOR THE YEAR ENDED 31 MARCH 2025 C¢Jmmitrnonts under operating l•as The c0mmth￿t to the current storag8 lacillii# is Ilmrt8d to one month's rentals of £867. which wlll incr8as8 from July 2025 to £969. Related party transacllons Agon Shu UK is Ihe UK branch of a wder charity wth its head office in Japan. Agon Shu UK enjoys the general support of its head office and expendtture has been incurred from ts'me to tsm8 for festlvals, trips to other centro5 and to m88t the cost of ￿sItsn9 Agon Shu priests from Kyoto. Th8 aggregate value of donations and other monies ￿eNed from Trustees where c4)nditsons have been plac8d on th858 r8c8lprtS 8mourrt8d to £10.587 (2024 - £11.562).