## ||||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|||||||| ##