## **JAPAN CHRISTIAN LINK**
## **REPORT & ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
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 2022**
## **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**
We were again able to maintain our primary activities throughout 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 2022 the Mission Partner couple appointed the previous year (while in New Zealand) to move to Japan were, following a relaxation of Japanese Covid restrictions, finally able to enter Japan. Also, one Japan-based and one UK-based Network Partner couple and one UK-based single Network Partner ceased being JCL partners. Thus, as at the end of 2022 JCL had 17 Mission Partners (11 based in Japan and 6 based in the UK) and 15 Network Partners (13 based in Japan and 2 based in the UK). In all there were 32 JCL Partners, of whom 8 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 is growing and expanding its appeal to pastors of various churches in Japan, with the objective of encouraging more individuals to come forward for training. In early 2023 we appointed a new Network Partner who has now taken up the post of Associate Director of the Samurai Projects.
## **Annual UK Conference**
In July 2023 we held our Japan Weekend Conference in person, focussing on prayer. This allowed us to obtain input from a wide range of ministries, with the objective of informing those attending the conference of the work which the Lord is doing among the Japanese and inviting them to engage with each of these ministries by praying for them.
## **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 2022 at £665k was lower than in 2021 (down by £71k), driven by lower restricted fund income (£560k, down by £30k) and slightly lower legacies (£39k, down by £ 7k).
Page 2
The positive trend in underlying voluntary unrestricted income reversed during 2022, probably affected by higher inflation and some pressure on donors due to increased costs affecting their ability to make donations. Conference income continued to increase as attendance at the in-person conference in 2022 reflected greater willingness of supporters to meet in person.
**Expenditure** compared to 2021 increased sharply to £620k (up £130k), largely as a result of higher spending from restricted funds (£532k, up by £117k). This was due to higher payments to existing partners, as well as new partners having arrived and settled in to Japan. Spending from unrestricted funds rose significantly to £88k (up by £13k) due to inflationary pressures and spending on step out initiatives at the end of 2022.
During the year we experienced disappointing investment performance as markets have adapted to higher interest rates, surging inflation and uncertainty from geopolitical events. We are expecting some recovery in investment values over time, however in the short term further volatility appears highly likely.
The year-end 2022 total funds balance was £687k, up £17k. This is made up of a reduction in unrestricted funds of £8k and an increase in restricted funds of £25k. Unrestricted bank and investment balances at year-end stood at £417k, of which £154k 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 £191k 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. Despite raised inflation and heightened cost of living in the UK and Japan recently, the core work of the charity has continued. The trustees continue to be very focused on maintaining a robust and effective approach to safeguarding and taking all necessary actions to minimise the risk of cyber attacks and other disruptions.
The trustees intend to maintain existing operations and continue development of step out projects, in line with what is feasible given the current environment.
## **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 2022:
|**Year end:**
**Reserve Purpose**|**2019**
**£k**|**2020**
**£k**|**2021**
**£k**|**2022**
**£k**|
|---|---|---|---|---|
|**Restricted funds**|58|68|245|270|
|**Discretionary retirement payments**|159|140|167|154|
|**Defcits from fnancial forecasts**|86|54|54|54|
|**Liquidity needs**|22|18|18|18|
|**Step out projects**|93|139|186|191|
|**TOTAL**|418|419|670|687|
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.
Page 3
## **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.
Between October and December 2022 the Director of Mission travelled 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.
Financially, the short-term outlook continues to be challenging. 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 Japanese Christians who share our desire to address, comprehensively and for the 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
Page 4
- The charity complies with relevant laws and regulations
## **Approval**
This report was approved by the trustees on 6[th] October 2023 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 2022**
|ADDRESS|P.O. Box 68||
|---|---|---|
||Sevenoaks||
||Kent TN13 2ZY||
|CONSTITUTION|Charitable Incorporated Organisation||
||Registered Charity|No. 1164572|
|TRUSTEES|Dr. Jonathan Batchelor||
||Miss Dawn Bolton||
||Miss Susan Burt||
||Mr. Mark Crossley||
||Mrs. Keiko Honda||
||Mr. Mark James||
||Mrs. Mami Meader||
||Ven. Michael Paget-Wilkes||
||Mr. Aogu Tateyama|(resigned 25 September 2023)|
||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 2022, 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 2023
7
## **JAPAN CHRISTIAN LINK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**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**||**2022**|**2022**|**_Total_**
£
619,387
39,434
0|**2021**|**2021**||
|---|---|---|---|---|---|---|---|
|||**_Restricted_**
**_Unrestricted_**
**_Funds_**
**_Funds_**
£
£
560,109
59,278
0
39,434
0
0|||**_Restricted_**
**_Unrestricted_**
**_Funds_**
**_Funds_**
£
£
590,205
74,163
0
45,944
0
0||**_Total_**
£
664,368
45,944
0|
|||560,109
117
0
0|98,712
264
3,850
2,432|658,821
381
3,850
2,432|590,205
0
0
0|120,107
21,132
2,597
2,097|710,312
21,132
2,597
2,097|
|||560,226
532,089
0|105,258
87,055
1,251|665,484
619,144
1,251|590,205
415,124
-|145,933
73,952
803|736,138
489,076
803|
|||532,089
28,137
0|88,306
16,952
0|620,395
45,089
0|415,124
175,081
0|74,755
71,178
0|489,879
246,259
0|
|||28,137
(2,542)|16,952
(25,186)|45,089
(27,728)|175,081
1,128|71,178
3,241|246,259
4,369|
|||25,595
244,581|(8,234)
425,548|17,361
670,129|176,209
68,372|74,419
351,129|250,628
419,501|
|||270,176|417,314|687,490|244,581|425,548|670,129|
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
The accounts were approved by the Trustees on
and signed on their behalf by:|**_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
The accounts were approved by the Trustees on
and signed on their behalf by:|£
£
£
£
-
-
428,928
412,504
428,928
412,504
2,722
2,005
260,380
257,572
263,102
259,577
4,540
1,952
4,540
1,952
258,562
257,625
687,490
670,129
270,176
244,581
223,314
218,548
194,000
207,000
687,490
670,129
6th October 2023
I.G. Walker
**2022**
**2021**
/ signed: I G Walker /|£
£
£
£
-
-
428,928
412,504
428,928
412,504
2,722
2,005
260,380
257,572
263,102
259,577
4,540
1,952
4,540
1,952
258,562
257,625
687,490
670,129
270,176
244,581
223,314
218,548
194,000
207,000
687,490
670,129
6th October 2023
I.G. Walker
**2022**
**2021**
/ signed: I G Walker /|
|---|---|---|---|
||||412,504
257,625|
||||670,129|
||||244,581
218,548
207,000|
||||670,129|
|||||
|||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 2022**
|**_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**
**_2022_**
£
46,578
381
0
(50,000)
(49,619)
(3,041)
257,572
260,380|**Total**
**Funds**
**_2021_**
£
225,747|
|---|---|---|
|||64
161,412
(374,056)|
|||(212,580)|
|||13,167
223,529|
|||257,572|
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 2022**
## **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||**Restricted**
**Unrestricted**
**Total**
**Total**
**_Funds_**
**_Funds_**
**_2022_**
**_2021_**
£
£
£
£
540,631
55,084
595,715
641,360
19,478
4,194
23,672
23,008
-
39,434
39,434
45,944|
|---|---|---|
|||560,109
98,712
658,821
710,312|
## **3 Investment income**
|**stment income**||
|---|---|
|Realised gain on investments
Interest|-
-
-
21,068
117
264
381
64|
||117
264
381
21,132|
Page 11
## **JAPAN CHRISTIAN LINK**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
- **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_**
**_2022_**
**_2021_**
£
£
£
£
459,662
1,000
460,662
350,671
72,427
7,788
80,215
65,132
-
-
-
378|
|---|---|---|
|||532,089
8,788
540,877
416,181
-
-
-
-|
|||532,089
8,788
540,877
416,181
-
1,848
1,848
1,846|
|||532,089
10,636
542,725
418,027|
|||-
50,957
50,957
47,404
-
-
-
-
-
4,016
4,016
1,134
-
4,502
4,502
4,557
-
11,808
11,808
12,818
-
5,136
5,136
5,136
-
-
-
-|
|||-
76,419
76,419
71,049|
||||
|||532,089
87,055
619,144
489,076|
|||-
600
600
480
-
651
651
323|
|||-
1,251
1,251
803|
***** 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 £50,957 (2021 £47,404). No employee received emoluments exceeding £60,000 during either 2022 or 2021.
Trustee indemnity insurance was purchased at a cost of £247 (2021 - £ 296). Expense payments amounting to £ 292 were made during the year. (2021 - 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 2022**
## **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
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 value in year
Plus sales in the year
Less purchases in year
Gains/(losses) in year
of which:
Realised gains / (losses)
Unrealised gains / (losses)
Total|**_No of units_**
1,031.64
225.95
-|**_Cost_**
£
250,000
50,000
-||**_2022_**
**_2021_**
£
£
**Market Value**|
|---|---|---|---|---|
||1,257.59
8,817
-
-|300,000
8,000
-
-||277,549
250,196|
||8,817
11,822
-
-|8,000
9,000
-
-||10,312
12,025|
||11,822|9,000||24,273
25,099|
|||317,000||312,134
287,320|
|||||24,814
-
(50,000)
(25,186)
-
(25,186)
(25,186)|
||||||
||||||
||||||
||||||
## **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 (£ equivalent)
Loan repayments received
Unrealised gain / (loss) arising during the year
Loan balance at year end exchange rate|**_2022_**
**_2021_**
£
£
125,184
124,056
(5,848)
-
(2,542)
1,128|
|---|---|
||116,794
125,184|
Page 13
## **JAPAN CHRISTIAN LINK**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
|**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**
**2021**
£
Restricted
Individual support funds
210,993
Other restricted funds
33,588
244,581
Unrestricted
Designated Funds
207,000
General Funds
218,548
425,548
670,129|**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**
**2021**
£
Restricted
Individual support funds
210,993
Other restricted funds
33,588
244,581
Unrestricted
Designated Funds
207,000
General Funds
218,548
425,548
670,129|**_2022_**
**_2021_**
£
£
1,391
1,332
-
22
1,331
651
2,722
2,005
-
1,010
3,940
462
600
480
-
-
4,540
1,952
102,421
77,033
67,629
66,943
84,313
84,304
6,017
29,292
-
-
260,380
257,572
accounts
**Income**
**Expenditure**
**Revaluations**
**Transfers**
**2022**
£
£
£
£
£
439,177
(401,388)
(2,542)
-
246,240
121,049
(130,701)
-
-
23,936|**_2022_**
**_2021_**
£
£
1,391
1,332
-
22
1,331
651|
|---|---|---|---|
||||2,722
2,005|
||||-
1,010
3,940
462
600
480
-
-|
||||4,540
1,952|
||||102,421
77,033
67,629
66,943
84,313
84,304
6,017
29,292
-
-|
||||260,380
257,572|
||244,581|560,226
(532,089)
(2,542)
-
270,176||
||207,000
218,548|-
-
-
(13,000)
194,000
105,258
(88,306)
(25,186)
13,000
223,314||
||425,548|105,258
(88,306)
(25,186)
-
417,314||
||670,129|665,484
(620,395)
(27,728)
-
687,490||
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 reduced during 2022 from £ 207,000 to £ 194,000. This was achieved through a transfer to General Funds.
|**alysis of net assets between funds**||
|---|---|
|Restricted funds
Unrestricted funds
Total funds|**Fixed**
**Net Current**
**assets**
**Cash**
**assets**
**Total**
£
£
£
£
116,794
153,382
-
270,176
312,134
106,998
(1,818)
417,314|
||428,928
260,380
(1,818)
687,490|
**13 Analysis of net assets between funds**
Page 14
## **JAPAN CHRISTIAN LINK**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**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**
**_2022_**
**_2021_**
£
£
45,089
246,259
0
(21,068)
(381)
(64)
(718)
(330)
2,588
950|
||46,578
225,747|
Page 15