2020-12-31-accounts - Sukyo Mahikari Yoko Forum CIO

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SUKYO MAHIKARI YOKO FORUM CIO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

SUKYO MAHIKARI YOKO FORUM CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees acting throughout the Financial Period and up to the date of this report are shown below.

LEGAL AND ADMINISTRATIVE DETAILS

LEGAL STATUS

Sukyo Mahikari Yoko Forum is founded as a Charitable Incorporated Organisation (CIO), and registered with the Charity Commission of England and Wales. The CIO was granted its status on 24th August 2016

CHARITY NUMBER 1168897

PRINCIPAL ADDRESS

136 Highbury Hill, London N5 1AT

TRUSTEES

Koichiro FUJISAKI Dr Sidney CHANG Paul PETTERSEN Stephen CHOO

BANKERS

Metro Bank One Southampton Row London WC1B 5HA

CAF Bank Limited 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME 19 4JQ

EXTERNAL EXAMINER

Tang & Co Swindon, Wiltshire SN25 4ES

SUKYO MAHIKARI YOKO FORUM CIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees of Sukyo Mahikari Yoko Forum CIO have the pleasure in submitting their Report and Accounts for the year ending 31st December 2020.

Objectives of Sukyo Mahikari Yoko Forum CIO

Sukyo Mahikari Yoko Forum CIO is a charity that exists to promote the advancement of world peace and the happiness of humankind, and for guiding humanity towards the establishment of a universal civilisation based on a synthesis of religion, science and all other aspects of human endeavour based on the teachings of Sukyo Mahikari. The CIO also makes efforts to nurture young people to aspire and achieve, whilst valuing universal virtues such as gratitude, humility, compassion and helping others. The activities are by invitation and are opened to all members of the public.

Activities

Due to the restrictions of the Covid-19 pandemic, all activities of the organisation had to move online, but they continue to be focussed on meeting the objectives of the charity. Four talks by invited speakers covered the following topics:

Discover Our True Potential - Part 1
Discover Our True Potential – Part 2
Financial Freedom - What does it really mean?
The Role of Faith in an Age of Crisis

In addition to these formal meetings, there were four open discussion meetings on the following topics:

The state of the world today, especially the coronavirus pandemic and climate emergency, and how they are impacting on peoples’ attitudes and their way of living.
The importance of bonds of friendship in helping to overcome what appears to be a great transitional period in human history. Also, what changes in attitude are necessary in order to encourage society to become kinder, warmer and protective of all life.
Current situation (lockdown) and how it affects younger people, especially with respect to work and career opportunities. What will happen if there is a second and even third wave of the Covid-19 pandemic? What chances are there of forging ahead with a green agenda?
The impact of the Covid-19 lockdown on mental health, especially amongst young people.

In addition, meetings for the core group responsible for organising events were held online in June and November 2020 to reflect on our achievements and future aspirations.

SUKYO MAHIKARI YOKO FORUM CIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Each public talk and or open discussion was attended by up to 65 participants and lasted at least two hours. Many of the participants, sometimes as much as 40%, were young people aged 32 or less.

It is our intention to develop an international network to promote the aims of the charity. In this respect, as a result of our online activities, newly initiated because of the pandemic, we saw a significant development and growth in our networking activities in 2020. Thus, we were able to invite guests from Belgium, Luxembourg, Sweden, France, Spain, Switzerland, Germany, Italy, Egypt, USA, Chile, India, Singapore, Hong Kong, Malaysia and Japan to our meetings. In addition, we were able to invite more participants from around the UK.

In the future, we anticipate that online participants will play as important a role in our events. Of course, our guests and ourselves clearly recognise that being present in person at an event at the Yoko Forum is always preferable to being an online participant.

Achievements

It has been very encouraging that many of the young people who have participated in our meetings have expressed their appreciation for them. These young people especially appreciate the opportunities provided to help them become mature citizens with a deep sense of social, ethical and spiritual responsibility. It is through the enthusiasm of these young people and social media that many people, young and old, across Europe and beyond are becoming aware of our activities.

We have also received positive feedback from our guests regarding the positive and welcoming atmosphere of the talks and the open dialogue they facilitate. We feel that our approach encourages participants to find commonalities that can help foster trust, friendship, and a desire to improve society.

Financial Review

The Trustees expressed their gratitude to their supporters both in the UK and other countries of the EU for their continued support despite the pandemic and the restrictions in 2020.

Income from donations amounted to £15,641 compared to the previous period of £16,896. Expenses were lower at £11,459 due to lower conference and travelling expenses offset partly by higher maintenance costs. This resulted in a Net Surplus of £4,182 for the year and a total Net Surplus of £19,564 carried over to next year.

The long term loan from Sukyo Mahikari Japan remain unchanged at £8,553.

It is our intention to ensure sufficient reserves are in place to fund our activities for at least three years, to repay back any outstanding loans and to use remaining resources to support more activities compatible to our aims.

SUKYO MAHIKARI YOKO FORUM CIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees

The charity trustees who served during the year were: Koichiro FUJISAKI Dr. Sidney CHANG

Paul PETTERSEN Stephen CHOO

Signed by

Dr Sidney CHANG

Chairperson of the Board of Trustees

2[nd] December 2021

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ SUKYO MAHIKARI YOKO FORUM CIO members of

On accounts for the year 31/12/20 ended

Charity no 1168897 (if any)

Set out on pages to8 12

(remember to include the page numbers of additional sheets)

We report to the trustees on our examination of the accounts of the above charity (“the CIO”) for the year ended 31/12/2020

Responsibilities and basis of report

As the charity trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).

We report in respect of our examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out our examination, we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination which gives us cause to believe that in, any material respect,:

the accounting records were not kept in accordance with section 130 of the 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 accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

We 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.

Date: 02/12/21 Signed: Tang & Co Name: Tang & Co Relevant professional Association of Chartered Certified Accountants (ACCA) qualification(s) or body (if any):

IER

Address: Swindon Wiltshire SN25 4ES

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here details of any items that the examiner wishes to disclose .

IER

SUKYO MAHIKARI YOKO FORUM CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

		2020	2019
		Total	Total
	Notes	Funds	Funds
		£	£
INCOME AND EXPENDITURE
INCOMING RESOURCES
Donations	1	15,641	16,896
TOTAL INCOMING RESOURCES
		15,641	16,896
RESOURCES EXPENDED
Direct charitable expenditure:
Legal & Professional		0	0
Administration		11,459	13,567
TOTAL RESOURCES EXPENDED	2	11,459	13,567
NET SURPLUS FOR THE PERIOD		4,182	3,329
at 1 January 2020 Fund balances brought forward		15,382	12,053
Fund balances carried forward		19,564	15,382
at 31 December 2020

The statement of financial activities contains all the gains and losses recognised in the current year, and the result for this period represents the only movement in reserves.

The notes on pages 9 to 12 form part of these financial statements.

SUKYO MAHIKARI YOKO FORUM CIO BALANCE SHEET

AS AT 31 DECEMBER 2020

	Notes		2020	2019
		£	£	£
FIXED ASSETS
Freehold Land & Building	1,3		2,750,000	2,750,000
CURRENT ASSETS
Cash at bank and in hand		16,621		21,779
Debtors	4	12,996		3,040
		29,617		24,819
CREDITORS: amounts falling due within oneyear		1,500		884
NET CURRENT ASSETS			28,117	23,935
TOTAL ASSETS LESS CURRENT			2,778,117	2,773,935
LIABILITIES
FUNDS
Endowment Fund	6		2,750,000	2,750,000
General Funds			19,564	15,382
			2,769,564	2,765,382
LONG TERM LOAN SUKYO	5		8,553	8,553
MAHIKARI JAPAN
TOTAL FUNDS			2,778,117	2,773,935

Approved on behalf of the Trustees on 2[nd] December 2021

Signed by Signed by Sidney Chang Stephen Choo Trustee Trustee

The notes on pages 9 to 12 form part of these financial statements.

SUKYO MAHIKARI YOKO FORUM CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1.ACCOUNTING POLICIES

a) Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Charities Act 1993 and applicable accounting standards.

b) Income

Donations are recognised in the year in which they relate, or if the period is not specified by the donor, in the year to which they are received. All other income is accounted for on an accrual basis.

c) Direct Charitable Expenditure

Direct charitable expenditure comprises all expenditure incurred which relates directly to the objects of the charity.

d) Administration Expenditure

Costs incurred which relate to the general running of the charity are included under this heading.

e) Funds

The gift of freehold land and building valued at £2.75m from Sukyo Mahikari Japan is treated as an Endowment Fund. All other monetary donations including gift aid are treated as normal donations.

f) Depreciation

Depreciation is provided on all tangible fixed assets at 25% per annum with the exception of freehold land and investment properties.

g) Investment Properties

The freehold building that includes the land and building, as stated in the balance sheet, at the valuation of £2.75m is classified as an investment property. This is stated at open market value. There is a commitment to revalue the building periodically and the aggregate surplus or deficit will be transferred to a revaluation reserve. No depreciation is provided on these assets.

SUKYO MAHIKARI YOKO FORUM CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

	2020	2019
	£	£
TOTAL RESOURCES EXPENDED

2. TOTAL RESOURCES EXPENDED

Total resources expended included the following:
Legal and professional costs	0	0
Utilities	2,684	2,965
Maintenance	4,154	1,617
Council Tax	2,556	2,609
External Examination Fees	750	750
Conferences	13	2,055
Insurance	909	893

The charity does not have any employees

3 FIXED ASSETS

The freehold land and building at 136 Highbury Hill, London N5 1AT was gifted by Sukyo th vMahikari Japan and was independently valued at £2.75m on 24[th] April 2017 by Chris Key BSc FRICS, of Warmans Surveying. The property was registered with the Land Registry on th 5[th] October 2017. It was confirmed with HMRC that no stamp duty was payable due to the charitable status of the organisation.

The freehold building is classified as an investment property which is not depreciated but is revalued each year at open market value. Any surplus or deficit is transferred to a revaluation reserve. Where a formal independent valuation is not carried out, two of the trustees will carry out this valuation jointly and record their result accordingly in the accounts. As at the balance sheet date, the value of the asset in aggregate was not expected to differ significantly from the 2017 valuation so that no transfer to the revaluation reserve was considered necessary.

Valuation as at 01/01/2020 2,750,000 2,750,000 Revaluation 0 0 Valuation as at 31/12/2020 2,750,000 2,750,000

4	DEBTORS
	Debtors	12,996	3,040

SUKYO MAHIKARI YOKO FORUM CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

			2020	2019
			£	£
5.CREDITORS: AMOUNTS FALLING DUE MORE THAN ONE YEAR
Long Term Loan from Sukyo Mahikari JAPAN			8,553	8,553
The long term loan is for a period of 10 years
and is	interest free. Repayment commences
from 5	th year of the loan.
6.FUNDS
		Endowment	General	Total
		Fund	Funds	Funds
		£	£	£
Balance at	1stJanuary 2020	2,750,000	15,382	2,765,382
Movement	in Resources
Incoming			15,641	15,641
Outgoing			(11,459)	(11,459)

Balance at	31stDecember 2020	2,750,000	19,564	2,769,564

7. TRUSTEES’ REMUNERATION AND EXPENSES

The trustees did not receive any remuneration and there was no reimbursement of expenses incurred during the period ( £ 230 in 2020)