2021-12-31-accounts - Japan Christian Link

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JAPAN CHRISTIAN LINK

REPORT & ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Mrs. Chaweevan Williams, FCCA Verdant Accountants Limited 167 Clarence Avenue New Malden Surrey KT3 3TX

JAPAN CHRISTIAN LINK

Trustees' Report for the Year ended 31[st] December 2021

OBJECTS AND ACTIVITIES

The chief object of JCL is to serve the Lord Jesus Christ among Japanese people wherever they are. Our vision is to help make a significant difference in the progress of the gospel among the Japanese people over the first half of this century.

We will seek to do this through educating, encouraging and equipping the Body of Christ so that, more and more, through an expanding network of relationships, the good news of Jesus Christ will be proclaimed clearly, and disciples of Jesus Christ multiplied, among the Japanese people, for His glory. (Matthew 28:19-20).

Our objects and activities include:

a) To promote and support effective work for the advancement of the gospel among Japanese people, in particular in Japan, but in principle wherever they may be;
b) To be a resource by, for example:- mentoring our partners and other key people in their ministries; working on behalf of Japanese returning to Japan so that they may be integrated positively into the Christian community there and grow and live as Jesus' disciples; being a centre of expertise and advice for those engaged in outreach to Japanese; providing useful Japanese literature for such people or groups; linking together people engaged in similar work; and arranging conferences for those supporting or involved in mission to Japanese;
c) To raise awareness among the Christian community of the spiritual need of the Japanese people, of the need for concerted prayer and action, of the openness of Japanese people when abroad, and of the potential opportunities to reach out to overseas Japanese in the UK and elsewhere;
d) To engage the Christian community in praying for Japan and the Japanese, in giving toward gospel work and ministry among Japanese, in seeking out and reaching out to Japanese in their locality, and in sending out workers to Japan;
e) To help establish outreach work to Japanese expatriate communities in places where there is a significant Japanese presence, but where there is no significant or concerted effort to reach them with the gospel of the good news of Jesus Christ.

GOVERNANCE & ORGANISATION

All the work and ministry of JCL is under the direction and government of the JCL Council. The Council members are in unconditional agreement with the 'Basis of Faith' and are the trustees of JCL. The trustees routinely meet twice a year to review the work of the charity and to consider issues raised by the directors or by any of the trustees themselves. A minimum of three trustees or one quarter of the total number of trustees is required to form a quorum. In between such scheduled meetings, in order to ensure timely addressing of issues as they arise, these are raised, discussed or agreed by means of email and/or telephone or video conference calls. There may also from time to time be ad hoc meetings, comprising subgroups of trustees and others, to consider certain issues or areas in greater depth or to interview prospective JCL partners.

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ACHIEVEMENTS AND PERFORMANCE

Impact of the coronavirus pandemic

As with most organisations we faced many challenges from the coronavirus pandemic. While this presented significant operational challenges, it has not affected our underlying financial income appreciably, although there has been significant volatility in investment values.

Operationally, although office staff were able to continue functioning effectively (with one working in the office and the other two from home) one new JCL partner family was prevented by Japanese pandemic regulations from travelling to Japan for some months. The family eventually entered Japan in March 2022.

Our annual UK-based Japan Weekend Conference in 2021 was held in hybrid form, with a small onsite group following Covid precautions joined by many on-line participants. Speakers from Japan and some other speakers contributed on-line. Just as for the entirely on-line 2020 conference, this again permitted a number to participate who otherwise would not have been able.

For 2022 we returned to our normal format, although we did not invite a main visiting speaker from Japan, but rather invited four speakers to contribute on-line from Japan.

We were again able to maintain our basic activities through the year, namely:

support of the efforts of our Mission Partners and Network Partners in Japan and the UK;
support of others engaged in outreach to Japanese in the UK and elsewhere through our Japanese literature ministry and through offering guidance and advice; and
support of ‘returnees’ to Japan – those with a new faith or interest in the Christian gospel, through seeking to link them with suitable churches or contacts.

JCL Partners and their movements

We work with two types of partner, Mission Partners and Network Partners. Mission Partners are full-time mission workers engaged activities such as church planting and leadership. They have close connections with JCL and can be seen as JCL representatives. Network Partners may work for other organisations / take up secular employment and may be engaged in mission activity in their spare time, working around other commitments. While in full agreement with JCL’s basis of faith, links with Network Partners may be less formal.

During 2021 one couple was appointed as Mission Partners, with the intention of their moving to Japan with their family in spring 2021. Due to immigration restrictions they were unable to enter Japan during 2021 and were in the UK at year end, although they were able to enter Japan in spring 2022. One Mission Partner couple relocated from Japan to the UK so that at the end of 2021 JCL had 9 Japan-based and 8 UKbased Mission Partners – 17 Mission Partners in all, and 20 Network Partners (15 Japan/5 UK) – 37 partners in all, of whom 13 were in the UK and 24 in Japan.

SPECIFIC ACTIVITIES TO HIGHLIGHT

Tokyo Marunouchi Project

In line with our purpose of encouraging good training and development of Japanese Christian leaders, we continued to provide administrative and funding support for the Tokyo-based Tokyo Marunouchi Partnership (TMP) which encompasses a vision to reach out with the gospel message to the business community in the financial district of Tokyo, as well as to begin a new church in that district comprising members drawn from that community. Also falling under the TMP is the Samurai Projects training scheme which has been re-launched on a larger scale.

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Annual UK Conference

In July 2021 we held our first ‘hybrid’ onsite plus on-line Japan Weekend Conference to take advantage of the partial relaxation of Covid rules. Those present onsite observed appropriate Covid protocols but a return to face-to-face participation was welcomed by those able to attend in person. Online participants joined the conference from the UK, Japan, the United States and other countries. Once again, the online element during this period of the pandemic allowed us to include many more people than would otherwise have been possible at a purely in-person event. For 2022, we offered a largely onsite event. However, given the travel regulation uncertainties, we decided to invite four key individuals in Japan with whom we have been developing relationships to contribute online, in place of a visiting main speaker from Japan.

Working with others

In these and other ways we have continued progressing our long-term aspiration for the coming decades, that of helping, in partnership with like-minded Japanese Christians, to remove barriers to growth and foster perspectives and practices within the Christian community in Japan that are Biblically coherent and conducive to the growth of Christ’s kingdom.

FINANCIAL REVIEW

Total income in 2021 at £736k was almost double the income in 2022 (up by £364k), driven mostly by materially higher restricted fund income (£590k, up by £301k) and by higher legacies (£46k, up by £ 29k). During the year substantial gifts were received to the Elliot Fund, a restricted fund set up in memory of Elliot Soh, which has been used to provide essential support for the work of a Mission Partner engaged in church planting in a suburb to the south west of Tokyo.

An encouraging positive trend in underlying voluntary unrestricted income continued during 2021 (+£11k). Conference income recovered from the low levels in 2020, following the reintroduction of in person conference attendance during 2021.

Expenditure compared to 2020 increased sharply to £490k (up £140k), largely as a result of higher spending from restricted funds (£415k, up by £136k). This was due to higher payments to existing partners, as well as new partners preparing to leave for Japan. Spending from unrestricted funds rose modestly to £ 75k (up by £4k) due to software services charges on the rollout of the new website and implementation of new donor database software.

During the year we completed the repositioning of the investment portfolio. The investments held with M&G were realised and a substantial new investment made in a fund managed by CCLA. Following a weak performance in 2020 due to the pandemic, investment values recovered significantly in 2021 and a gain of £21k was realised. In addition further unrealised gains on investments of £3k arose. The total value of JCL’s investments following the repositioning was £ 287k at the end of 2021. Unfortunately more recent developments such as the war in Ukraine and the current increase in inflation have had a material negative effect on investment values since the end of 2021.

The year-end 2021 total funds balance was £670k, up £251k. This is made up of an increase in unrestricted funds of £75k and an increase in restricted funds of £176k. Restricted funds increased substantially due mainly to funds received for the Elliot Fund (£156k). These funds are being actively used in support of the church planting activity of a Mission Partner. Unrestricted bank and investment balances at year-end stood at £426k, of which £167k is designated for discretionary retirement payments, £ 54k is held to meet deficits anticipated from financial forecasts and £18k is held for liquidity needs. The remaining £186k in reserves is allocated towards growth/step-out projects/people.

RISK MANAGEMENT

The trustees have given consideration to the major risks to which the charity is exposed and are satisfied that systems or procedures are established in order to manage those risks.

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Following the coronavirus pandemic which began in late 2019 / early 2020, the trustees carefully reviewed financial plans and developed a number of downside projections to assess the impact of the pandemic on activities. Although a number of Mission Partners were affected through disruption to travel plans and the lockdown in the UK obliged us to close our online bookshop for a few weeks, the overall financial impact has been modest. We give thanks to God that donations have been maintained, and in a number of cases increased, despite the economic impact of the pandemic on supporters.

Under current circumstances the trustees intend to maintain existing operations and continue development of step out projects, in line with what is feasible given the current travel restrictions which are affecting the UK and Japan.

RESERVES

At their meeting on 9[th] September 2019 the trustees adopted a revised Reserves Policy in order to clarify precisely why various reserves are held. The following table shows a breakdown of JCL’s reserves for the years 2019 to 2021:

Year end: Reserve Purpose	2019 £k	2020 £k	2021 £k
Restricted funds	58	68	245
Discretionary retirement payments	159	140	167
Defcits from fnancial forecasts	86	54	54
Liquidity needs	22	18	18
Step out projects	93	139	186
TOTAL	418	419	670

The trustees, having carefully reviewed cash flow forecasts for the next two years, believe there are no material uncertainties that may cast significant doubt about the charity’s ability to continue as a going concern.

FUTURE PLANS

We remain committed to ministry in support of those returning to Japan and to continue working toward addressing barriers to church growth in Japan.

In June 2022 the trustees met to review key strategic step out projects, with a view to taking all appropriate steps to move ahead with these. The Director of Mission is planning a working trip to Japan and other locations in Asia with the objective of building close relationships with movement partners, in order to take forward the step out projects which are considered to be most promising. Extensive use of video conferencing and online communications is continuing, in order to supplement and prepare the way for fruitful face-to-face contacts during the autumn of 2022.

Financially, the short-term outlook has stabilised and unrestricted fund income and expenditure appear likely to be broadly in balance during 2022. The current adverse inflationary environment is putting upward pressure on costs and it is not clear at present how material this effect will be.

Current plans are to continue the following activities:

➡ developing productive relationships and cooperation with others in Japan who share similar goals, especially younger generation Christians who share our desire to address, comprehensively and for the

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long term, the current obstacles to church growth and the prospect of the imminent retirement of many presently in church leadership without apparent succession;

➡ supporting existing ministries, selective and gradual appointment of distinctive new partners and developing our level of individual mentoring of JCL Partners and volunteers;
➡ promoting outreach to overseas Japanese, especially businessmen, a particularly unreached segment of Japanese society;
➡ considering actions to generate income to support the future growth and development of our ministry in pursuit of our vision to help make a significant difference in the progress of the gospel among the Japanese people over the first half of this century.

PUBLIC BENEFIT

The trustees have considered the Charity Commission's guidance on public benefit and in particular the specific guidance in relation to charities for the advancement of religion. They are satisfied that the activities of Japan Christian Link fall within that guidance.

TRUSTEES' RESPONSIBILITIES

We are required under the Charities Act 2011 to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charity. In preparing those financial accounts we are required to:

Select suitable accounting policies and apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial accounts;
Prepare the financial accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are satisfied that these financial accounts comply in full with these requirements.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to detect fraud or other irregularities and to provide reasonable assurances that:

The charity is operating efficiently and effectively
Its assets are properly safeguarded against unauthorised use or disposition
Proper records are kept and financial information used within the charity and for publication is reliable
The charity complies with relevant laws and regulations

Approval

This report was approved by the trustees on 9[th] September 2022 and signed on their behalf by:

/signed: I.G. Walker/

I G Walker, Chairman

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JAPAN CHRISTIAN LINK

LEGAL & ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 DECEMBER 2021

ADDRESS	P.O. Box 68
	Sevenoaks
	Kent TN13 2ZY
CONSTITUTION	Charitable Incorporated Organisation
	Registered Charity No. 1164572
TRUSTEES	Dr. Jonathan Batchelor
	Miss Dawn Bolton	(appointed 21st March 2022)
	Miss Susan Burt
	Mr. Mark Crossley
	Mrs. Keiko Honda
	Mr. Mark James
	Mrs. Mami Meader
	Miss Lisa-Rose Moller	(resigned 12th March 2022)
	Ven. Michael Paget-Wilkes
	Mr. Aogu Tateyama
	Mr. Ian Walker (Chairman)
	Mrs. Miho Walker
DIRECTORS	Mr Selvan Anketell
	Mr Ian Maclennan
BANKERS	Barclays Bank PLC
	Leicester LE87 2BB
	CAF Bank Ltd
	P.O. Box 289
	West Malling
	Kent ME19 4TA
INDEPENDENT EXAMINER	Mrs. Chaweevan Williams
	Verdant Accountants Limited
	167 Clarence Avenue
	New Malden
	Surrey KT3 3TX

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INDEPENDENT EXAMINER’S REPORT

Independent examiner’s report to the trustees of Japan Christian Link

I report on the financial statements of the charity for the year ended 31 December 2021, which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes 1-14.

Respective responsibilities of Trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’). The Charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. Where the charity’s gross income exceeded £250,000 I am qualified to undertake the examination by being a qualified Fellow of the Chartered Association of Certified Accountants.

It is my responsibility to examine the accounts under section 145 of the Charities Act, follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

(1) In connection with my examination, no material matters have come to my attention which give me cause to believe that, in any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Report) Regulation 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of independent examination.

(2) 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.

Chaweevan Williams FCCA Verdant Accountants Limited Chartered Certified Accountants 167 Clarence Avenue, New Malden, Surrey KT3 3TX

Date: 11 October 2022

JAPAN CHRISTIAN LINK

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

2021	2021	*Total* £ 664,368 45,944 0	2020	2020
*Restricted* *Unrestricted* *Funds* *Funds* £ £ 590,205 74,163 0 45,944 0 0			*Restricted* *Unrestricted* *Funds* *Funds* £ £ 289,148 63,129 0 17,000 0 0		*Total* £ 352,277 17,000 0
590,205 0 0 0	120,107 21,132 2,597 2,097	710,312 21,132 2,597 2,097	289,148 0 0 0	80,129 139 849 1,408	369,277 139 849 1,408
590,205 415,124 0	145,933 73,952 803	736,138 489,076 803	289,148 278,915 -	82,525 70,310 829	371,673 349,225 829
415,124 175,081 0	74,755 71,178 0	489,879 246,259 0	278,915 10,233 0	71,139 11,386 0	350,054 21,619 0
175,081 1,128	71,178 3,241	246,259 4,369	10,233 0	11,386 (20,607)	21,619 (20,607)
176,209 68,372	74,419 351,129	250,628 419,501	10,233 58,139	(9,221) 360,350	1,012 418,489
244,581	425,548	670,129	68,372	351,129	419,501

Movements on reserves and all recognised gains and losses are shown above. The notes on pages 11 to 15 form part of these accounts.

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JAPAN CHRISTIAN LINK

BALANCE SHEET AS AT 31 DECEMBER

*Notes* FIXED ASSETS Tangible fixed assets 7 Investments and loans 8 CURRENT ASSETS Debtors and prepayments 9 Cash at bank and in hand 11 CURRENT LIABILITIES Creditors and accruals 10 NET CURRENT ASSETS NET ASSETS FUND BALANCES 12/13 Restricted Funds Unrestricted Funds General Funds Designated Funds	£ £ - 412,504 412,504 2,005 257,572 259,577 1,952 1,952 257,625 670,129 244,581 218,548 207,000 670,129 2021	£ £ - 412,504 412,504 2,005 257,572 259,577 1,952 1,952 257,625 670,129 244,581 218,548 207,000 670,129 2021	£ £ - 174,423 174,423 1,675 244,405 246,080 1,002 1,002 245,078 419,501 68,372 170,129 181,000 419,501 2020	£ £ - 174,423 174,423 1,675 244,405 246,080 1,002 1,002 245,078 419,501 68,372 170,129 181,000 419,501 2020

		670,129		419,501
		244,581 218,548 207,000		68,372 170,129 181,000
		670,129		419,501

The accounts were approved by the Trustees on 9th September 2022 and signed on their behalf by: /signed: I.G. Walker// signed /

I.G. Walker

The notes on pages 11 to 15 form part of these accounts.

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JAPAN CHRISTIAN LINK

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021

*Notes* Cash flows from operating activities: Net cash provided by operating activities 14 Cash flows from investing activities: Interest from investments Proceeds from the sale of investments Purchase of investments Net cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 11	Total Funds *2021* £ 225,747 64 161,412 (374,056) (212,580) 13,167 244,405 257,572	Total Funds *2020* £ 22,347	Total Funds *2020* £ 22,347
			139 0 (1,610)
			(1,471)
			20,876 223,529
			244,405

The notes on pages 11 to 15 form part of these accounts.

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JAPAN CHRISTIAN LINK

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting Policies

The accounts have been prepared under the historic cost convention, in accordance with applicable accounting standards and follow the 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). The following are the accounting policies which have been applied in dealing with material items:-

a) Preparation of accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

b) Donated and grant income

Donated income and grants receivable are taken into account when received by the charity. Income received in circumstances where a claim for repayment of tax has been or will be made to HM Revenue & Customs is grossed up for the tax recoverable. Any amount of tax reclaimed from HM Revenue & Customs but not yet received is shown within the charity's debtors.

c) Other income and expenditure

Investment income is taken into account when receivable and expenditure, including irrecoverable VAT, when incurred by the charity, regardless of when payment is made. Grants payable are taken into account at the earlier of when they are paid or become constructive obligations. Grants for the support of missionaries are accounted for on the basis of payments made during the financial year.

d) Type of Fund

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds. Unrestricted funds may be designated for specific purposes by the trustees.

e) Tangible fixed assets and depreciation

Fixed assets are for the use by the charity in fulfilling its main charitable objects and are capitalised and depreciated. Depreciation is provided at rates appropriate to reduce book values to estimated residual values over the useful lives of the assets concerned. Computers are depreciated at 25% p.a. and office equipment at 15% p.a., all on the reducing balance method. Items of equipment with an individual cost of less than £1,000 are not capitalised but are written off on purchase. Additionally a policy was adopted in 2011 under which, if the total net book value of all fixed assets falls below £500 at the end of a year, all fixed assets are written off.

2 Voluntary income

untary income Gifts, donations & subscriptions Gift Aid tax recoverable Legacies stment income Realised gain on investments Interest		Restricted Unrestricted Total Total *Funds* *Funds* *2021* *2020* £ £ £ £ 571,763 69,597 641,360 331,608 18,442 4,566 23,008 20,669 - 45,944 45,944 17,000
		590,205 120,107 710,312 369,277
		- 21,068 21,068 - - 64 64 139
		- 21,132 21,132 139

3 Investment income

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JAPAN CHRISTIAN LINK

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable activities

4 Charitable activities a Direct Charitable Costs: Grants used for fieldwork in : Japan UK Other Grants to retired missionaries Total Grants Literature Ministry b Support & Administration: Staff salaries and allowances (Note 6) Retired Missionaries/Staff Conference, Meeting & Travel expenses Communications including magazine HQ Costs Rent payable Depreciation (Note 7) Combined charitable activity cost 5 Governance Costs Accounts preparation & examination Trustee-related costs *		Restricted Unrestricted Total Total *Funds* *Funds* *2021* *2020* £ £ £ £ 350,671 - 350,671 215,683 64,453 679 65,132 64,806 - 378 378 -
		415,124 1,057 416,181 280,489 - - - -
		415,124 1,057 416,181 280,489 - 1,846 1,846 2,174
		415,124 2,903 418,027 282,663
		- 47,404 47,404 46,921 - - - - - 1,134 1,134 1,311 - 4,557 4,557 4,415 - 12,818 12,818 8,779 - 5,136 5,136 5,136 - - - -
		- 71,049 71,049 66,562

		415,124 73,952 489,076 349,225
		- 480 480 400 - 323 323 429
		- 803 803 829

* Trustee-related governance costs include TI insurance, travel costs, venue hire, etc.

6 Staff & Trustees

The number of paid support staff * employed during the year was unchanged at 1.8 full-time equivalent staff, including two part-salaried directors (covering Mission and Operations). Total UK staff emoluments for the year were £47,404 (2020 £46,921). No employee received emoluments exceeding £60,000 during either 2021 or 2020.

Trustee indemnity insurance was purchased at a cost of £296 (2020 - £ 325). No expense payments were made during the year to any trustee (2020 - Nil).

No other payments were made or are due to be made to any other trustee or to any person connected to them.

For simplicity, UK support staff costs include any time spent by HQ staff on Direct Charitable activities. No split was attempted.

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JAPAN CHRISTIAN LINK

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

7 Tangible fixed assets

In April 2019 three desktop computers with associated peripheral equipment and screens were purchased, along with one laptop computer. As the cost of each of these items individually was under £1,000 and in line with accounting policies in place, this equipment was expensed in the year of purchase.

*No of units* *Cost* £ - 1,031.64 250,000 - -	*No of units* *Cost* £ - 1,031.64 250,000 - -	*2021* *2020* £ £ Market Value
1,031.64 250,000 576.049 55,886 - - (576.049) (55,886)		250,196 -
- 8,817 - -	- 8,000 - -	- 140,343
8,817 11,822 - -	8,000 9,000 - -	12,025 12,257
11,822	9,000	25,099 21,823
	267,000	287,320 174,423
		112,897 161,412 (250,000) 24,309 21,068 3,241 24,309

8 Investments and loans

On 18th October 2021 a loan in the amount Japanese Yen 19,466,000 was granted to Mr. Timothy Williams, a Mission Partner of Japan Christian Link. The purpose of the loan was to finance part of the purchase of a property to be used as the residence of Mr. Williams and his family, as well as for ministry purposes in connection with the planting of Christ Church Riverside, in a suburb to the south west of Tokyo. This loan bears interest at the rate of 0.1% per annum and is repayable over a period of 20 years in annual instalments. This loan was granted from the resources available to the Elliot Fund, which is one of Japan Christian Link's restricted funds.

Loan balance when granted Unrealised gain arising during the year Loan balance at year end exchange rate	*2021* *2020* £ £ 124,056 - 1,128 -
	125,184 -

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JAPAN CHRISTIAN LINK

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

9 Debtors & prepayments Gift aid recoverable Literature float Prepayments 10 Creditors & accruals Prepaid donations / income received in advance Sundry creditors and accruals Independent examination fee Postage 11 Cash at bank and in hand Barclays Bank Charities Aid Foundation Santander Bank Wise Cash in hand All cash balances are held in no notice deposit 12 Movement of funds 2020 £ Restricted Individual support funds 55,319 Other restricted funds 13,053 68,372 Unrestricted Designated Funds 181,000 General Funds 170,129 351,129 419,501	accounts Income Expenditure Revaluations £ £ £ 460,555 (306,009) 1,128 129,651 (109,116) -	*2021* *2020* £ £ 1,332 1,394 22 22 651 259
		2,005 1,675
		1,010 - 462 97 480 400 - 505
		1,952 1,002
		77,033 102,886 66,943 57,272 84,304 84,247 29,292 - - -
		257,572 244,405
		Transfers 2021 £ £ - 210,993 - 33,588
68,372	590,206 (415,125) 1,128	- 244,581
181,000 170,129	- - - 145,933 (74,755) 3,241	26,000 207,000 (26,000) 218,548
351,129	145,933 (74,755) 3,241	- 425,548
419,501	736,139 (489,880) 4,369	- 670,129

The purposes for which the designated funds have been created are explained in the Trustees' Report. During 2017 the Trustees adopted a policy to increase Designated Funds to match the value of the investment funds held in anticipation of retirement expense for certain Mission Partners plus £ 40,000. As a result, Designated Funds were increased during 2021 from £ 181,000 to £ 207,000. This was achieved through a transfer from General Funds.

alysis of net assets between funds
Restricted funds Unrestricted funds Total funds	Fixed Net Current assets Cash assets Total £ £ £ £ 125,184 119,397 - 244,581 287,320 138,175 53 425,548
	412,504 257,572 53 670,129

13 Analysis of net assets between funds

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JAPAN CHRISTIAN LINK

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

14 Reconciliation of net income to net cash flow from operating activities

conciliation of net income to net cash flow from operating activities
Net income for the reporting period (as per the statement of financial activities) Adjustments for: (Gains)/losses on investments Interest from investments (increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activites	Total Funds Total Funds *2021* *2020* £ £ 246,259 21,619 (21,068) 0 (64) (139) (330) 320 950 547
	225,747 22,347

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