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2021-03-31-accounts

Pages
Trustees'
report		 1-7
Independent auditor's
report		 8-11
Consolidated
(incorporating		 statement
offinancial activities
income and expenditure
account)		 12
Consolidated balance sheet 13
Company
balance sheet		 14
Consolidated statement
ofcash flows		 15
Notes to the financial statements 16-31
FOR THE CHARITABLE C OMPANY, I TSTRUSTEES AND ADVISERS
Governing Instrument Memorandum
and Articles ofAssociation
Members His Excellency Hajime Hayashi
(Appointed
26 February
Sir Alexander
David Warren		 2021)
Rt Hon. Lord Christopher
Francis Patten of Barnes
Ms Keshini Navaratnam
Sir Michael Roger Gifford
(Resigned 25 May 2021)
Mrs Phillida
A Purvis
His Excellency Yasumasa
Nagamine
(Resigned 4 January 2021)
Trustees (also the statutory
Directors ofthe Charitable		 Company) His Excellency Hajime Hayashi
(Appointed
26 February 2021)
His Excellency Yasumasa
Nagamine
(Resigned 4January 2021)
Rt Hon. Lord Christopher
Francis Patten of Barnes
Ms Keshini Navaratnam
Mrs Phillida A Purvis
Sir Alexander
David Warren
Mr Takanori Sazaki (Resigned
on 10December 2020)
Mr Satoru Yoshida
Mr Yoshinori
Katayama
(Appointed
on 20october 2020)
Mr Hirohiko
Miyata
(Appointed
on 4 June 2020, resigned		 on 15 October 2020 and
reappointed
on 14December 2020)
Sir Michael Roger Gifford (Resigned 25 May 2021)
Executive Chairman His Excellency Hajime Hayashi
(Appointed
26 February 2021)
Hia EXCellenCy YaSumaaa
Nagamine
(Resigned 4January 2021)

Unrestricted Total Total
Funds Funds Funds
(A/I
unrestricted)
Year ended 30.06.2019to
31.03.2021 31.03.2020
Note E
INCOIIIIE FROM:
Other trading
activities
Bank and other interest receivable		 3.1
3.2		 10,383,940
557		 10,383,940
657		 7,702,856
26,349
TOTAL INCOME 10,384497 10304497 7,729,205
EXPENDITURE ON:
Cost of other trading
activities
Charitable
activities
TOTAL EXPENDITURE		 6
4
6		 9,538,104
26 2DD
9564 3D4		 9,538,104
26200
9564,304		 6,874, 664
28, 693
6,903,357
Net Income before Taxation 820,193 820,193 825,848
TAX 345,343 345 343 886,279
NET INCONIE BEFORE OTHER
RECOGNISED GAINS AND LOSSES		 1,165,536 1 185536 1 712 127
NET MOVEMENT
IN FUNDS		 1165536 1,165,536 1,712, 127
RECONCILIATION
OF FUNDS:
Total funds brought
forward
TOTAL FUNDS CARRIED FORWARD		 1,081,173
3,040,709		 1081 173
3,048 7D9		 169,046
1,881,173

Registered number: 11491073 number: 11491073
Charity number:1179926
31 March 31March
2021 2020
Note
FIXEDASSETS
Intangible
assets
Tangible assets		 10
11		 326,215
2,320,810		 2,647,025 428,589
4,559,984		 4,986,573
CURRENT ASSETS
Stock
Debtors
Cash at bank and in hand		 12
13
14		 283,519
5,050,686
4,665,777
9,999,982		 6,708,893
1,898,898
8,607,791
CREDITORS: amounts
falling due
within one year
NET CURRENT ASSETS		 15 7,098,259 2,901,723 ~4064 It00 3,643,701
TOTAL ASSETSLESS
CURRENT LIABILITIES		 5,548,748 8 630 274
CREDITORS: amounts
falling due
after more than one year		 (1,625,924) (5,908,87f)
PROVISIONS FOR LIABILITIES
Other provisions		 19 876,115 842,230
NET ASSETS 3 046,709 1,881,173
CHARITY FUNDS
Unrestricted
funds		 3,046,709 1,881,173
SHAREHOLDERS'
AND
CHARITY'8 FUNDS		 3,046,709 I.80t,I73

Registered number:11491073
Charity number:1179626
31 March 31March
2021 2020
Note E
FIXED ASSETS
Investments 23
CURRENT ASSETS
Debtors 13 13,350
Cash at bank and
in		 hand 14 546,750 413,494
560,100 413,494
CURRENT LIABILITIES
Creditors - amounts
one year		 falling due within 15 ~54,135 34,194
NET CURRENT ASSETS 505,925 379,300
TOTAL ASSETS LESSCURRENT 505,926 379,301
LIABILITIES
TOTAL NET ASSETS 505,926 335351
THE FUNDS OF THE CHARITABLE
COMPANY
Unrestricted income fund 505,926 379,301
TOTAL CHARITABLE COMPANY
FUNDS		 505,926 379,301

Year ended 31 30.06.2019 fo
March 2021 31.03,2020
Note 6 E
CASH FLOW FROM OPERATING ACTIVITIES:
Profit for the year before tax		 1,165,536 825,848
ADJUSTMENT FOR:
Depreciation
oftangible assets
Amortisation
ofgoodwill
Interest receivable
(Increase)
in stock
Decrease
in debtors
(Decrease)
in creditors
Increase
in provisions
Tax credit (net)		 11
10
3.2
12
19		 2,285,002
100,374
(557)
(283,519)
1,863,109
(1,611,257)
33,885
(345,343)		 1,709,995
75,280
(26,349)
2,021,385
(2,844,281)
25,413
(886,279)
NET CASH GENERATED
FROIIII OPERATING
ACTIVTIES		 3,207,230 901,012
CASH FLOW FROM INVESTING ACTIVITIES:
Fixed assets acquired
through
acquisition
of		 6,269,979
subsidiaries
undertaking
Net liabilities acquired
through
acquisition
of		 (6,771,848)
subsidiaries
undertaking
Purchases
offixed assets
Interest receivable		 11
3.2		 (45,828)
557		 26,349
501,868
Non cash adjustments
NET CASH (USED IN)I GENERATED FROM
INVESTING ACTIVI'TIES		 45 271 26,348
CASH FLOW FROM FINANCING
ACTIVITIES:
(Decrease) (Increase
in other loan
NET CASH (USED IN)I GENERATED FROM
FINANCING
ACTIVITIES		 16 395,080
395,080		 774,700
774,700
CHANGE
IN CASH AND CASH EQUIVALANTS
IN THE YEAR
Cash and cash equivalents
brought
forward		 2,766,879
1,898,898		 1,702,060
196,838
CASH AND CASH EQUIVALENT CARRIED
FORWARD		 14 4,665,777 1,898,898

he average monthly number o femp loyee s,
including		 the directors,
d		 uring
the year was as foll		 ows:
Year ended 31 30.06.2019 to
March 2021 31.03.2020
Employees including directors who have employment contracts 55 41
Year ended 31 30.06.2019 fo
March 2021 31.03.2020
6
Wages and salaries
Social security costs
Cost of defined
contribution		 scheme (Note 20) 1,601,165
165,725
28461
1,825 351		 914,063
104,718
15,558
1,034,339

TAXATION
Group
Year ended		 Gmup
30.06.2019to
31.03.2021 31.03.2020f
Corporation
tax
Current tax charge on profits for the year
Adjustments
in respect of previous
periods
Total current tax		 ~740,441 140,441
140,441
Deferred tax asset
Odiginated
and reversal of timing differences
(Note 18)
Total deferred tax asset		 ~204902
~204, 902		 ~1,026720
~7,026,720
Tax credit on profit on ordinary
activities		 ~345,343 ~006.270
Factors affecting tax credit for the year/period
The tax assessed
for the year is lower than (2020:lower than) the standard		 rate of corporation tax in the UK of
19%(2020: 19%) as set out below:
Group
Year ended		 Group
30.06.2019 to
31.03.2021f 31.03.2020f
Profit on ordinary
activities before tax		 820,193 825,848
Profit on ordinary
activities
multiplied
by standard
in the UK of19%		 rate of corporation tax 155,837 156,911
Effects of:
Fixed asset differences
Expenses not deductible
for tax purposes
Non-taxable
income
Other adjustments
Recognition
of deferred tax asset not previously
Adjustment
to tax charge
in respect of previous
Adjustment
to tax charge
in respect of previous
Total tax credit for the year/period		 recognised
period —deferred tax
period —current tax		 166,279
18,105
(399,520)
8,949
(154,552)
(140,441)
~345,343		 146,233
34,230
(394,532)
36,337
(865,456)
~088,279

roup
Short-term leasehold Fixture and Total
improvements fittings
Cost or valuation
At 1 April 2020
Additions
At 31 March 2021		 8,739,970
8,739,970		 45,828
45828		 8,739,970
45,828
8785,798
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021		 4,179,986
2,279,992
6,459,978		 5010
5010		 4,179,986
2285 002
6,464 988
Net book value
At 31 March 2021 2,279,992 40,818 2320810
At 31 March
2020		 4,559,984 4,559,984

REDITORS: AMOUNTS
F		 ALLING DUE WITHIN ONE Y EAR
Group
2021
8		 2020
5		 Parent Company
2021
6		 2020f
Other loans
Trade creditors
Corporation
tax
Other creditors
Accruals
Deferred Income		 303,696
297,947
2,380,628
88,114
4 027,874
7,098,259		 344,142
30,108
f40,441
134,024
345,563
3,968,812
4,964,090		 14,114
21,026
19,035
54,175		 18,250
15,944
34,194

REDITORS: AMOUNTS
F		 ALLING AFTER MORE THAN ONE YEAR
Group
2021		 2020 Parent Company
2021		 2020
6
Otherloans
Other creditors
Deferred Income		 75,924
1,550,000
1,625,924		 430,558
f,550,000
3,926,313
5,906,871
2021 2020
6 E
Other
Other		 loans
loans		 due
due		 within
after		 1 1 year (Note 15)
year but less than 5 years (Note 16)		 303,696
75,924
379620		 344,142
430,558
774,700



debenture
in respect ofthe subsidia
ry's
assets in favor oft		 he lender
in a form s		 atisfactory
to the lender.
FINANCIAL INSTRUMENTS
Financial assets		 Group
2021
6		 2020 Parent Company
2021		 2020
6
Financial assets measured
at fair value through
income
and expenditure		 4,665,777 1,898,898 546,750 413,494
Financial assets measured
at amortised
cost		 1,762 992
6428269		 1 789,207
3,688 105		 100
546,850		 413,494
Financial
liabilities
Financial
liabilities measured
at amortised cost		 4,696,309 2,835 395 36641 34,194

EFERRED TAXATION
Group
2021		 Group
2020
At start ofthe yearlperiod
Credited
to the Consolidated
Statement
of
(Note 9)
At end of year/period
(Note 13)		 Financial Activities 1,026,720
204,902
1,231,622		 1,026, 720
1,026, 720
The deferred tax asset is made up as follows: 2021 2021
E 6
Fixed Assets
Timing
differences
— excess
depreciation
(Note 9)
Other timing differences		 of capital allowances over 1,213,253
18369
1,231 622		 1,026, 720
1,026, 720

UBSIDIARIES UBSIDIARIES
Company
Name		 Country of
incorporation		 Class of
shares		 Holdings Aggregate
of
share capital
and reserves		 Profit/ (loss)
for the year/
period ended
31.03.21
Japan H.L. UK (England & Ordinary 100% F2 261 892 E1,186,608
Limited
Japan		 H.L. Wales)
UK (England		 & Ordinary 100% F(47,223) F(47,323)
Enterprises Wales)
Limited