## **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.
Page 1
## **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.
Page 2
## **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.
Page 3
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
Page 4
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
Page 5
## **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||
Page 6
## **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
7
## **JAPAN CHRISTIAN LINK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**Notes**
**INCOME**
Underlying Voluntary Income
Legacy Income
Other Exceptional Income
Donations and Legacies
2
Investment income:
3
_Charitable Activities_
Conference income
Sales of literature and books
Total income
**EXPENDITURE**
Charitable activities
4
Governance costs
5
Total Expenditure
**Net income /(expense) before transfers**
Transfer between funds
Net income /(expenditure) after transfers
Unrealised gain/(loss) on investments
8
Net movement in funds
Funds at 1 January
**Funds at 31 December**||**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.
Page 8
## **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.
Page 9
## **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.
Page 10
## **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**
Page 11
## **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.
Page 12
## **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.
|**Investments and loans**
COIF Charities Investment Fund (Acc) at 1 Jan
Purchased during the year
Disposed of during the year
at 31 December
M&G Charifund Accumulation Units at 1 Jan
Purchased during the year
Disposed of during the year
at 31 December
IM CAF Fixed Interest Fund at I January
Purchased during the year
Disposed of during the year
at 31 December
IM CAF UK Equity Fund as at 1 January
Purchased during the year
Disposed of during the year
at 31 December
TOTAL
Increase / (Decrease) in market value in year
Plus sales in the year
Less purchases in year
Gains/(losses) in year
of which:
Realised gains
Unrealised gains
Total|**_No of units_**
**_Cost_**
£
-
1,031.64
250,000
-
-|**_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
-|
Page 13
## **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|**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**
Page 14
## **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|
Page 15