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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 08608337 (England and Wales) REGISTERED CHARITY NUMBER: 1161005

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

The Kendo Nagasaki Foundation

Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW

The Kendo Nagasaki Foundation

Contents of the Financial Statements for the Year Ended 31 December 2021

Page
Reference and Administrative Details 1
Trustees' Report 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6 to 7
Notes to the Financial Statements 8 to 13
Detailed Statement of Financial Activities 14

The Kendo Nagasaki Foundation

Reference and Administrative Details for the Year Ended 31 December 2021

TRUSTEES Ms R F Macdonald Mr L R Stevens Ms Y Walker REGISTERED OFFICE Moorcourt Hall Farley Road Oakamoor Stoke-on-Trent Staffordshire ST10 3BD REGISTERED COMPANY 08608337 (England and Wales) NUMBER REGISTERED CHARITY 1161005 NUMBER INDEPENDENT EXAMINER Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW

Page 1

The Kendo Nagasaki Foundation

Trustees' Report for the Year Ended 31 December 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance Buddhism in particular but not exclusively by the provision to those new to Buddhism of introductory education and experience of the practices of the Buddhism religion.

Significant activities

The Kendo Nagasaki Foundation provides events for people to come to Moorcourt Hall to take part in Zen Meditation, mindfulness and relaxation. Visitors have benefited from the experience we provide, and given good feedback via our website. We have maintained our provision of unique and original messages of peace and inspiration every month, available world-wide via our website. The foundation has been working on extending its facilities to accommodate more visitors to the site, and offer its Zen-based relaxation and empowerment experience and practices to a wider audience.

Public benefit

The Trustees have considered the Charity Commission's general guidance on public benefit and have taken it into account when reviewing the Charity's aims and objectives and in planning its future activities. The Trustees are satisfied that the aims of the Charity are carried out wholly in pursuit of its charitable aims for the public benefit. The Trustees consider the activities described clearly demonstrate the public benefit provided by the Charity.

ACHIEVEMENT AND PERFORMANCE

During the year the foundation was successful in continuing to enhance its profile and fundraising structure.

FINANCIAL REVIEW

Financial position

The pandemic continued to have an impact on the charity's ability to fundraise in 2021. The economic environment started to gradually improve throughout the year. The Trustees have continued to focus on delivering what was possible for the charity in these uncertain times. As a result the charity has made a small surplus of £14,857 in the year (2020 deficit £47.436). The balance sheet remains positive at £773,755.

In the opinion of the Trustees, the funds held at 31 December 2021 were available and adequate to fulfill the charitable obligations. The available funds have been carefully considered by the Trustees in planning its future activities.

Principal funding sources

The charities main source of income is derived from donations through supporting companies.

FUTURE PLANS

The charitable company will continue its activities in future years. It keeps the facilities in its charge under continual review with a view to maintaining and enhancing them.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of one year after which they are eligible for re-election at the next Annual General Meeting.

Page 2

The Kendo Nagasaki Foundation

Trustees' Report for the Year Ended 31 December 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

A Board of trustees administer the charitable company. The trustees are, in part, appointed by the individual members. In considering other appointments to the board, the trustees meet at least quarterly or more frequently if circumstances require.

INDEPENDENT EXAMINER

Stephen Watson has been re-appointed as independent examiner for the ensuing year.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 27 September 2022 and signed on its behalf by:

Ms R F Macdonald - Trustee

Page 3

Independent Examiner's Report to the Trustees of The Kendo Nagasaki Foundation

Independent examiner's report to the trustees of The Kendo Nagasaki Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Stephen Watson FCCA CTA Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW

27 September 2022

Page 4

The Kendo Nagasaki Foundation

Statement of Financial Activities for the Year Ended 31 December 2021

2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
124,278
Other income
3
8,223
Total
132,501
EXPENDITURE ON
Raising funds
456
Charitable activities
4
Donations
117,188
Total
117,644
NET INCOME/(EXPENDITURE)
14,857
RECONCILIATION OF FUNDS
Total funds brought forward
758,898
TOTAL FUNDS CARRIED FORWARD
773,755		 2020
Total
funds
£
85,980
8,549
94,529
4,968
136,997
141,965
(47,436)
806,334
758,898

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

The notes form part of these financial statements

Page 5

The Kendo Nagasaki Foundation

Statement of Financial Position 31 December 2021

Notes
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Prepayments and accrued income
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 2021
Unrestricted
fund
£
782,357
4
782,361
74,854
454
1,091
76,399
(85,005)
(8,606)
773,755
773,755
773,755
773,755		 2020
Total
funds
£
786,762
4
786,766
2,094
531
500
3,125
(30,993)
(27,868)
758,898
758,898
758,898
758,898

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

The Kendo Nagasaki Foundation

Statement of Financial Position - continued 31 December 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2022 and were signed on its behalf by:

Ms R F Macdonald - Trustee

The notes form part of these financial statements

Page 7

The Kendo Nagasaki Foundation

Notes to the Financial Statements for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

The Kendo Nagasaki Foundation is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£)

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)'.

The financial statements have been prepared on a going concern basis under the historical cost convention.

The Covid-19 pandemic has adversely impacted on global and UK societies and economies, and this impact has continued into the 2021 financial year. However in the directors' opinion there is no significant uncertainty as to the going concern basis..

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 33% on cost straight line Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 8

continued...

The Kendo Nagasaki Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Government grants

Government grants are recognised in accordance with the accrual model of Section 24 of FRS 102.

Grants became receivable as compensation for expenses already incurred for the purpose of giving immediate financial support to the entity with no future related costs recognised in income in the period in which the grant became receivable.

3. OTHER INCOME

OTHER INCOME
2021 2020
£ £
Government grants 8,223 8,549

The other income relates to Job Retention Scheme grants received during the year.

4. CHARITABLE ACTIVITIES COSTS

Donations
DIRECT COSTS OF CHARITABLE ACTIVITIES
Insurance
Light and heat
Telephone
Other establishment costs
Postage and stationery
Travel and motor expenses
Depreciation
Loss on sale of assets		 Direct
Costs (see
note 5)
£
33,008		 Support
costs
£
84,180
2021
£
6,639
10,197
1,410
7,166
1,677
4,764
4,405
(3,250)
33,008		 Totals
£
117,188		 Totals
£
117,188
2020
£
6,307
5,562
2,299
3,507
977
2,889
4,046
-
25,587

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2021 2020
£ £
Depreciation - owned assets 4,405 4,046
Surplus on disposal of fixed assets (3,250) -
Independent examination fee 1,250 1,000

Page 9

continued...

The Kendo Nagasaki Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

7. TRUSTEES' REMUNERATION AND BENEFITS

During the year R Macdonald received a salary of £5,859 (2020 £5,715).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

8. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration and fundraising		 2021
£
32,203
512
32,715
2021
4		 2020
£
38,943
354
39,297
2020
4

No employees received emoluments in excess of £60,000.

9. TANGIBLE FIXED ASSETS

COST
At 1 January 2021
Disposals
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
Eliminated on disposal
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Freehold
property
£
768,275
-
768,275
-
-
-
-
768,275
768,275		 Plant and
machinery
£
18,011
(3,250)
14,761
10,283
1,932
(3,250)
8,965
5,796
7,728		 Fixtures
and
fittings
£
6,105
-
6,105
3,944
324
-
4,268
1,837
2,161		 Motor
vehicles
£
12,000
-
12,000
3,402
2,149
-
5,551
6,449
8,598		 Totals
£
804,391
(3,250)
801,141
17,629
4,405
(3,250)
18,784
782,357
786,762

Page 10

continued...

The Kendo Nagasaki Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1 January 2021 and
31 December 2021 4
NET BOOK VALUE
At 31 December 2021 4
At 31 December 2020 4

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Kendo's Day Care Limited

Registered office: Moorcourt Hall, Farley Road, Oakamoor, Stoke-on-Trent, ST10 3BD. Nature of business: Day Care Facilities

%
Class of share:
holding
Ordinary
100
Aggregate capital and reserves
Loss for the year
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Amounts owed by group undertakings
Other debtors		 31/12/21
£
(80,711)
(4,244)
2021
£
74,754
100
74,854		 31/12/20
£
(76,467)
(3,480)
2020
£
1,344
750
2,094

Page 11

continued...

The Kendo Nagasaki Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 13)
Trade creditors
Other creditors
Accruals and deferred income
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
14.
MOVEMENT IN FUNDS
At 1/1/21
£
Unrestricted funds
General fund
758,898
TOTAL FUNDS
758,898
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
132,501
TOTAL FUNDS
132,501
Comparatives for movement in funds
At 1/1/20
£
Unrestricted funds
General fund
806,334
TOTAL FUNDS
806,334		 2021
2020
£
£
204
-
816
-
80,784
27,654
3,201
3,339
85,005
30,993
2021
2020
£
£
204
-
Net
movement
At
in funds
31/12/21
£
£
14,857
773,755
14,857
773,755
Resources
Movement
expended
in funds
£
£
(117,644)
14,857
(117,644)
14,857
Net
movement
At
in funds
31/12/20
£
£
(47,436)
758,898
(47,436)
758,898

Page 12

continued...

The Kendo Nagasaki Foundation

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
94,529
94,529		 Resources
Movemen
expended
in funds
£
£
(141,965)
(47,436)
(141,965)
(47,436)		 Resources
Movemen
expended
in funds
£
£
(141,965)
(47,436)
(141,965)
(47,436)
(47,436)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/20
£
806,334
806,334		 Net
movement
in funds
£
(32,579)
(32,579)		 At
31/12/21
£
773,755
773,755

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
227,030
227,030		 Resources
Movemen
expended
in funds
£
£
(259,609)
(32,579)
(259,609)
(32,579)		 Resources
Movemen
expended
in funds
£
£
(259,609)
(32,579)
(259,609)
(32,579)
(32,579)

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

16. SHARE CAPITAL

The company is limited by guarantee and therefore has no share capital.

Page 13

The Kendo Nagasaki Foundation

Detailed Statement of Financial Activities
for the Year Ended 31 December 2021
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other income
Government grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Event expenditure
Charitable activities
Insurance
Light and heat
Telephone
Other establishment costs
Postage and stationery
Travel and motor expenses
Plant and machinery
Fixtures and fittings
Motor vehicles
(Profit)/ Loss on sale of tangible fixed assets
Support costs
Management
Trustees' salaries
Wages
Pensions
Other
Contractors
Repairs and renewals
Governance costs
Accountancy fees
Legal fees
Total resources expended
Net income/(expenditure)		 2021
£
124,278
8,223
132,501
456
6,639
10,197
1,410
7,166
1,677
4,764
1,932
324
2,149
(3,250)
33,008
5,859
26,344
512
32,715
28,635
17,868
46,503
4,962
-
4,962
117,644
14,857		 2020
£
85,980
8,549
94,529
4,968
6,307
5,562
2,299
3,507
977
2,889
2,576
381
1,089
-
25,587
5,715
33,228
354
39,297
47,646
19,017
66,663
2,450
3,000
5,450
141,965
(47,436)

This page does not form part of the statutory financial statements

Page 14