2023-03-31-accounts - Japan House London Trust

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				Pages
Trustees' report (including		the strategic	report)	1-7
Independent	auditor's report			8-11
Consolidated	statement of	financial activities
(incorporating	income and	expenditure	account)	12
Consolidated	balance sheet			13
Company balance sheet				14
Consolidated	statement of	cash flows		15
Notes to the	financial statements			16-30

				ANNUAL TRUSTEES' REPORTI CONTINUED)	ANNUAL TRUSTEES' REPORTI CONTINUED)	ANNUAL TRUSTEES' REPORTI CONTINUED)	ANNUAL TRUSTEES' REPORTI CONTINUED)
				(INCLUDING THE STRATEGIC REPORT)
				FOR THEYEAR ENDED 31 MARCH		2023
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE	CHARITABLE COMPANY, ITSTRUSTEES AND ADVISERS					(continued)
Objects ofCharitable Company				The Objects of the Trust are for the public benefit: (both traditional and modern), institutions, people,						a) to advance history, and		the culture language of
				Japan, and also of Japan's intellectual,			artistic, scientific and economic						life;		b)
				to promote cultural relationships	between			people	in	Japan	and people		in	the
				United Kingdom; c) to promote	learning			and advance all forms				of education
				relating to Japan; d) to promote	research			in any of	the above; e) to publish					the
				useful results of such research	and f) the furtherance					ofsuch other exclusively
				charitable objects as the Trustees		in their		absolute	discretion		may	determine.
Solicitors				Farrer &Co LLP
				66 Lincoln's Inn Fields
				London WC2A 3LH
Bankers				HSBC UK Bank Pic
				94 Kensington High Street
				London W8 4SH
Auditor				Rawlinson & Hunter Audit LLP
				Statutory Auditor
				Chartered Accountants
				Eighth Floor, 6 New Street Square,
				New Fetter Lane, London EC4A 3AQ
Charitable	Company
Address &Registered			office	Japan House London
				101 —111Kensington High Street
				London W8 5SA
Charity Registration		Number		1179626
Company	Registration		Number	11491073

		Unrestricted	Total	Total
		Funds	Funds	Funds
				(Aff
				unrestricted)
	Note	2023f	2023	2022
INCOME FROM: Other trading actwities	3.1	9,959,991	9,959,991	12327,901
TOTAL INCOME		9,959991	9959991	12327,901
EXPENDITURE ON:
Cost ofother trading activities Charitable activities	6 4	9,422,444 40,350	9,422,444 4D 35D	10,727,460 35 715
TOTAL EXPENDITURE	6	9462 794	9. 62794	70 763 175
Net Income before Taxation		497,197	497,197	1,564,726
TAX (CHARGE)/CREDIT	9	~39,534	39534	1352895
NET INCOME BEFORE OTHER RECOGNISED GAINS AND LOSSES		~57663	457663	211831
NET MOVEMENT IN FUNDS		57663	7683	211,831
RECONCILIATION OF FUNDS:
Total funds brought forward TOTAL FUNDS CARRIED FORWARD		2990195 3947848	299D195 3447848	27 8354 2990185

			CONSOLIDATED BALANCE	CONSOLIDATED BALANCE	SHEET
				AT 31 MARCH 2023
				Registered number: 11491073
				Charity number: 1179626
					31 March		31March
					2023		2022
			Note
FIXEDASSETS
Intangible assets Tangible assets			10,11 12	151,181 200,727	351,908	257,983 227889	485,872
CURRENT ASSETS
Stock			13	206,676		173,269
Debtors			14	2,531,456		2,597, 727
Cash at bank and in	hand		15	7 874464		5 896836
				10,612,596		8,667,832
CREDITORS: amounts falling due within one year NET CURRENT ASSETS			16	5,018,058	5,594,538	3703,5'l9	4,964,313
TOTAL ASSETSLESS
CURRENT LIABILITIES					5,946,446		5,450, 185
CREDITORS: amounts		falling due
after more than one	year		17		(1,550,000)		(1,550,000)
PROVISIONS FOR	LIABILITIES
Other provisions			20		948,598		10,000
NET ASSETS					3,447,848		2990,185
CHARITY FUNDS Unrestricted funds					3l47,848		2990,185
SHAREHOLDERS' CHARITY'S FUNDS	AND				3l47 848		2999 185

				CHARITABLE COMPANY BALANCE SHEET	CHARITABLE COMPANY BALANCE SHEET	CHARITABLE COMPANY BALANCE SHEET	CHARITABLE COMPANY BALANCE SHEET	CHARITABLE COMPANY BALANCE SHEET	CHARITABLE COMPANY BALANCE SHEET
						AT 31	MARCH	2023
					Registered		number:	11491073
						Charity	number:	1179626
									31 March		31 March
					Note				2023f		2022f
FIXEDASSETS
Investments					24
CURRENT ASSETS
Debtors					14		7,921			17,990
Cash at bank	and in	hand			15		831,363		791,607
							839,284		809,797
CURRENT LIABILITIES
Creditors - amounts one year		falling due within			16	~11.820				41982
NET CURRENT ASSETS									827,464		767,615
TOTAL ASSETS LESSCURRENT									827,465		767,816
LIABILITIES
TOTAL NET	ASSETS								821465		161816
THE FUNDS	OF THE CHARITABLE
COMPANY
Unrestricted	income	fund							827,465		767,816
TOTAL CHARITABLE COMPANY
FUNDS									821465		767,616
The Charitable	Company		has	taken advantage		ofthe exemption		allowed	under section 408	ofthe Companies	Act 2006
and has not presented		its	own	Statement	of Financial Activities			in these financial statements.

			2023	2022
		Note	F
CASH FLOW FROM OPERATING	ACTIVITIES:
Net movement in funds			457,663	211,831
ADJUSTMENT FOR:
Depreciation oftangible assets Amortisation of intangible assets Tax charge (Increase)/decrease in stock Decrease in debtors		12 10,11 9 13 14	46,573 106,802 39,534 (33,407) 66,271	2,316,937 102517 1,352,895 110,250 1,221,337
Increase/(decrease) in creditors Increase in provisions Tax paid		16 20 9	1,492,004 38,598 (145,591)	(3,784,368) 33,885
NET CASH GENERATED FROM OPERATING
ACTIVTIES			2068447	1565,284
CASH FLOW FROM INVESTING	ACTIVITIES:
Additions of intangible assets Purchases offixed assets		10 12	19411	(34,285) 224 0/5
NET CASH USED IN INVESTING	ACTIVITIES		19,411	258301
CASH FLOW FROM FINANCING	ACTIVITIES:
Decrease in other loans		16	71408	5924
NET CASH USED IN FINANCING	ACTIVITIES		1408	5924
CHANGE IN CASH AND CASH EQUIVALANTS
IN THE YEAR			1,977,628	1,231,059
Cash and cash equivalents brought	forward		5896836	4,665,777
CASH AND CASH EQUIVALENT FORWARD	CARRIED	15	7874464	5896,836

n analysis ofturnover by class ofbusine	ss is as follows:
		2023	2022
Rental income on concession agreements Release of deferred income —rent received	in advance	124,001	124,001 1,858,826
Release offixed asset grant income Japan House membership income Income from arrangement with MOFA (note Other Income	23)	242,125 7,881,671 261,934	2,076,486 171,229 6,926,044 266,140
Income from sales in the Shop		1450260 9 959,991	905,175 12327901

					Unrestricted	Total Funds	Total Funds
					Funds 2023	2023	2022
					6	6
Grants	made				29,000	29,000
Support	costs	—governance	(Note	5)	11350	11300	35715
					40,350	40,350	35,715

arent	Company
			Total Funds	Total Funds
			2023	2022
			6
Bank Legal Audit Total	charges and professional fee (Note 4)	related costs	60 2,468 8 022 11350	101 22,433 13,181 35,715

roup
	2023	2022
	6	5
Other trading activities	9422444 9422 444	10,727460 10727460
Charitable Activities (Note 4) Total Expenditure	4D 355 9462,394	35715 0 63425

UDITORS' REMUNERATION
	2023	2022f
Fees payable tothe Charitable Company's auditor and its subsidianes in respect ofAudit-related assurance services	45950 40 DDD	30000 30000

The average	monthly	number	of employees,	of employees,	induding	induding	the directors,	the year was as follows:
								2023	2022
Employees	including	directors who have employment					contracts	71	71
Staff costs,	including	key management		personnel,		were as follows:
								2023	2022
								6
Wages and salaries Social security costs Cost of defined contribution			scheme	(Note	21)			2,567,986 247,919 70534 2896349	2052,168 207,564 61433 232 265

TAXATION
				Group	Group
				Year ended	Year ended
				31.03.2023	31.03.2022
				6	5
Corporation tax Current tax charge on profits for the year Adjustments in respect of previous periods Total current tax			59,698 ~29184 39,534		121,273 121273
Deferred tax asset
Adjustments in respect of previous Total deferred tax asset	periods				1,231622 1231,622
Tax charge on profit on ordinary	activities			39,534	1,352895
Factors affecting tax charge for the year
The tax assessed for the year is lower than (2022:higher than) the standard				rate ofcorporation	tax in the UK of
19%(2022: 19%9)as set out below:
				Group	Group
				Year ended	Year ended
				31.03.2023	31.03.2022
				5	5
Profit on ordinary activities before tax				97 198	1564 726
Profit on ordinary activities multiplied in the UK of 19%	by standard	rate ofcorporation	tax	94,468	297,296
Effects of:
Fixed asset differences				2,005	152,887
Expenses not deductible for tax purposes Non-taxable income				14,718	21,501 (394,532)
Other adjustments Adjustment totax charge in respect of previous Adjustment totax charge in respect of previous Excess ofcapital allowance over depreciation Unrelieved tax losses carried forward		penods —deferred tax penod —current tax		7,737 I20,164) I59,894) 664	44,119 1,231,622
Tots Itax charge forthe year				39534	1352895
Factors that may affect future tax	charges

NTANGIBLE FIXEDASSETS
Group	Website
	developmentf
Cost
At 1 April 2022	34,285
Additions
At 31 March 2023	34,285
Amortisation
At 1 April 2022 Charge for the period At 31 March 2022	2,143 6,428 8,571
Net Book Value
At 31 March 2023	25714
At 31March 2022	32 142

Cost
At 1 April 2022 At 31 March 2023	591 869 5D1.869
Amortisatlon
At 1 April 2022 Charge for the period At 31 March 2022	276,028 1DD374 3764D2
Net Book Value
At 31 March 2023	125,467
At 31March 2022	225,841

	Group
		Short-term	leasehold		Fixture and		Total
		improvements			fittings
	Cost or valuation At 1 April 2022 Additions		8,739,970		269,844 19,411	9,009,814 19,411
	At 31 March 2023		8,739970		289,255	9,029225
	Depreciation At 1 April 2022 Charge for the year At 31 March 2023		8,739,970 8739970		41,955 46 573 88,528	8,781,925 46573 8828498
	Net book value
	At 31 March 2023				200 727		200 727
	A131 March 2022				227669		227 680
13.	STOCK
		Group			Parent	Company
		2023		2022	2023		2022
				5		5	5
	Finished goods and goods for resale	206676		173269
		206,676		173269
14.	DEBTORS
	Due after more than one year:
		Group			Parent	Company
		2023f		2022f	2023 8		2022 f
	Rent deposit (Note 22)	1 565179 1 565,1JS	1 1	550000 550,000

Due within on	e year:
			Group		Parent Company
			2023f	2022 Z	2023 f	2022
Trade debtors Other debtors			99,654 33,383	51,655 353,047	7,921	17,990
Prepayments income	&Accrued		539,886	431,030
Corporation tax VAT repayable			85,528 2D7826 966277	191995 1,047 727	7921	17990
Total Debtors			2.531456	25977	7921	17990
ASH AND CASH EQUIVALENTS
			Group		Parent Company
			2023 f	2022 f	2023 f.	2022 f
Cash at bank			7,874,464	5,896,836	831,363	791,807
			7,874,464	5,896,836	831,363	791,807
REDITORS:	AMOUNTS	FALLING	DUE WITHIN ONE	YEAR
			Group		Parent Company
			2023	2022f	2023 f	2022 f
Otherloans				71,408
Trade creditors			124,222	173,377	3,820	15,455
Corporation tax Other creditors Accruals			15,216 4,499,973 153,571	121,273 3,056,838 106,957	8,000	21,527 5,000
Deferred Income			182,191	173,666
VAT payable			42 885 5D18058	3703519	11,820	41,962

REDITORS: AMOUNTS	FALLING AFTER IIIIORE THA	N ONE YEAR
	Group 2023	2022f	Parent Company 2023	2022f
Otherloans
Other creditors	1 55D,DDD	1,550,000
	1 550 DDD	1,550,000

EFERR	ED TAXATION
					Group	Group
					2023f	2022f
At start	ofthe year					1,231,622
Charged	to the Consohdated	Statement	of Financial	Activities		1,231,622
At end	ofyear

COMIIIIITNIENTS UND	COMIIIIITNIENTS UND	ER OPERATING	LEASES
At 31 March 2023 the		Group had future	minimum lease	payments due under	non-cancellable	operating	leases
for each ofthe	following	periods:
			Group		Parent Company
			2023 8	2022	2023 f		2022
Not later than	1 year		1,670,747	1,668,206
Later than 1 year but than 5years		not later	5,012,240 6,682,987	6,672,824 8,341,030

UBSIDIARIES	UBSIDIARIES
Company Name		Country of incorporation	Class of shares	Holdings	Aggregate of share capital and reserves	Profitforthe year ended 31 Nlarch 2023
Japan	H.L.	UK (England 3	Ordinary	100%	2,327,821	356,212
Limited,	parent	Wales)
of
Japan	H.L.	UK (England 8	Ordinary	100%	167,195	142,175
Enterpnses		Wales)
Limited