**The Japanese School Limited (A Company Limited by Guarantee) Trustees’ report and financial**
## **statements**
**Registered charity number 271665 Registered company number 1263742 31 December 2021**
1
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Trustees’ Report 31 December 2021
## **Contents**
|**Contents**||
|---|---|
||**page**|
|Trustees’ report|**3**|
|Statement of trustees’ responsibilities|**7**|
|Independent Auditors’ Report to the members of The Japanese School Limited|**8**|
|Statement of Financial Activities|**11**|
|Balance Sheet|**12**|
|Cash Flow Statement|**13**|
|Reconciliation of net cash flow to movements in net funds|**14**|
|Statement of Change of Equity|**15**|
|Notes|**16 to 22**|
2
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Trustees’ Report 31 December 2021
## **Trustees’ report**
The trustees, who act as trustees for the purposes of company law, present their annual report and the audited financial statements for the year ended 31 December 2021.
## **Reference and Administration information**
The Japanese School Ltd was incorporated (1263742) on 18 June 1976 and registered with the Charity Commission under Charity number 271665. The Governors are listed on page 5. Particulars of the executive officers, registered address and the Charity’s professional advisers are given on page 5 to 6.
## **Structure, Governance and Management**
## **Governing Document**
The company is governed by its Memorandum and Articles of Associations.
## **Recruitment and Training of Governors**
Governors are elected at the Annual General Meeting of the Company on the recommendation of the Governing Body, who will have received proposals from the Governance and Nominations Committee.
## **Organisational Management**
The Governors are legally responsible for the overall management and control of The Japanese School Limited (“the School”) and meet at least once a year.
## **Risk Management**
A formal review of the charity’s risk management processes is undertaken on an annual basis with the aim of identifying more clearly the major risks of the school.
## **Objects, Aims and Activities**
## **Principal activities and objectives**
The principal activity of the company, which is registered as a charitable organisation under the Charities Act 1960, is to provide facilities for the education of the children of the Japanese community in the United Kingdom. This activity will continue in the foreseeable future and is governed by the memorandum and articles of the company. There has been no change to the charitable company’s activities during the year.
## **Aims and Intended Impact**
Within the objects, it is the policy of the School to discover to the full the academic and co-curricular potential of each pupil.
## **Public Benefits**
The School seeks to provide benefit to the public in accordance with its widely drawn objects clauses. In terms of ancillary and educational activities and other associated activities for the benefit of the community, the School has always been proactive and sought to make a significant contribution for the benefit of the public.
3
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Trustees’ Report 31 December 2021
## **Trustees’ report (continued)**
## **Reserves policy**
The current level of the School’s reserves is shown on page 12.
The School maintains a level of reserves sufficient to enable current and future restoration, repairs, and purchases of premises and assets and to cover the operational needs of the School. The ongoing level of reserves will therefore depend on these factors.
The School’s funds are considered to be unrestricted.
## **Investment powers**
The chairman of the Committee is empowered to invest the funds of the School as the Committee sees fit.
## **Results**
A summary of the results, including donations received, is shown on page 11.
No changes have been made to the charitable company’s accounting policies during the year.
4
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Trustees’ Report 31 December 2021
## **Trustees’ report (continued)**
## **Trustees**
The trustees who held office during the year were as follows:
||Resigned Appointed|
|---|---|
|Mr. Hirotaka Sunada
|09 December 2021|
|Mr. Naotoshi Nishida
|09 December 2021|
|Mr. Takashi Yamana
|09 December 2021|
|Mr. Takeo Aoki|09 December 2021|
|Mr. Katsunori Yokomaku|26 May 2021|
|Mr. Kiyotada Nakamura
|01 April 2021|
|Mr. Keiichiro Nakamura
|16 July 2020|
|Mr. Fusato Serizawa
|01 April 2020|
|Mr. Hideki Mishima
|01 April 2020|
|Mr. Yoshinori Katayama
|01 April 2020|
|Mr. Hiroyuki Uehara
|19 April 2019|
|Mr. Hideki Ishiyama|01 April 2019|
|Mr. Satoru Takahama
|09 December 2021 10 December 2020|
|Mr. Nobuhiro Yabe
|09 December 2021 01 April 2020|
|Mr. Shigeru Maeda
|09 December 2021 10 December 2020|
|Mr. Hirohiko Miyata
|09 December 2021 01 April 2020|
|Mr. Hidenobu Shirota
|09 December 2021 25 May 2021|
|Mr. Takanori Sazaki
|26 May 2021 29 May 2019|
|Mr. Shiko Yanagisawa
|25 May 2021 06 December 2018|
|Mr. Masato Sawabe
|01 April 2021 05 April 2018|
Trustees are appointed by the board of management at their meetings.
## **Bankers**
HSBC Bank plc Ealing Broadway Branch 46 The Broadway Ealing London W5 5JR
## **Solicitors**
Clifford Chance 10 Upper Bank Street Canary Wharf London E14 5JJ
5
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Trustees’ Report 31 December 2021
## **Trustees’ report (continued)**
## **Auditors**
Finance Associates Ltd 65 London Wall London EC2M 5TU
## **Registered office**
87 Creffield Road Acton London W3 9PU
6
Registered company number 1263742
The Japanese S¢hool Limited
{A Company Limited by Ciuarant¢¢)
Independeni AuditUPi' Repvrt
31 December 2021
Ststement of trustees, responsibilities in respect of the fittaDci41 ststements
The trustee5 are responsible foT prrparing the Attnual Report and the financial staiements ill aordanCe with appli¢abl¢
law5 and reguiaiions.
Company law requires ihe irustees to prepare financial siatement5 for¢a¢h tinancial vear. Under that law the trustees have
prepared the financial Slalemenls in accordanLe with Unitcd Kingdom Generally Acccpred Accouniing Practice IlJnited
Kingdom Accounting Sranitards, comprisitju FRS 102 'The FiniLIa[ Reporting Siandard applicable in ihc UK and
Reputilic of Ireland" and applicable law). Under company law Ihe irusiees must not sed ar the annual g¢neral meeting.
By order of the board
Akihiko Takada
TruA'iee
121h July 2022
The Japanese School Limited (A Company Limited by Guarantee) Independent Auditors’ Report 31 December 2021
## **Independent auditors’ report to the members of The Japanese School Limited**
## **Report on the audit of the financial statements**
## **Opinion**
In our opinion, The Japanese School Limited’s financial statements:
- give a true and fair view of the state of the company’s affairs as at 31 December 2021 and of its profit for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law); and
- have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements, included within the Trustees’ report and financial statements (the “Annual Report”), which comprise: the Balance Sheet as at 31 December 2021; the Statement of Comprehensive Income and the Statement of Changes in Equity for the year then ended; and the notes to the financial statements, which include a description of the significant accounting policies.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Independence**
We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
## **Conclusions relating to going concern**
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
8
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Independent Auditors’ Report 31 December 2021
## **Independent auditors’ report to the members of The Japanese School Limited (continued)**
## **Reporting on other information**
The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.
With respect to the Trustees' Report, we also considered whether the disclosures required by the UK Companies Act 2006 have been included.
Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.
## **Trustees’ Report**
In our opinion, based on the work undertaken in the course of the audit, the information given in the Trustees' Report for the year ended 31 December 2021 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Trustees' Report.
## **Responsibilities for the financial statements and the audit**
## **Responsibilities of the trustees for the financial statements**
As explained more fully in the Statement of the trustees’ responsibilities in respect of the financial statements, the trustees are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
## **Auditors’ responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to the UK Companies Act and employment regulation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to manipulation of results through manual journals or management bias in judgemental areas. Audit procedures performed by the engagement team included:
9
Registered company number 1263742
The Japanese School Limited
{A Company Limited by Guarantee)
Independeni Auditors. Report
31 December 2021
Independent auditors, report to the members of The Japanese School Limited {eontinlled)
•DcUSsIOnS with management which have included consideration of known or suspecied instances of
non-compliance with laws and regulation and fraud
•ldentifying and iesting of manual.journal entries based on risk criieria such as unusual account combinations
•Review of key judgements and provisions
•Incorporating element5 of unpredictability into our audii approach
There are inherent litnilations in the audil procedures descTibed above. We are less likely to be¢ome aware of instances of
non-complianc¢ with laws and regulation5 that aFe not closely related io events and transactions reflected in the financial
statements. Also, Ihe risk of not detecting a material misstatement due io fraud is higherthan the risk of Not dctLXting one
resulting from emr, a5 fraud may involve deliberate concealment by, for example, forgery gr inteniional
misrepresentation& or through collusion.
A further description of our )nsIbIlitieS lor the audit of the financial statements is located on the FRC'S website at..
www.frc.org.uklauditorsresponsibiliiies. This description forn]5 part of our auditors, rq>ort.
Use of thi5 report
This report, including the opinions, has been prepared for and only for the company'5 Tnembers as a body in acc(Ydance
with Chapter 3 of Part 16 of the Companies Act 20 and forng other purtjose. We do noi, in giving these opinions accept
or &ssume responsibiliiy for any other purww or to any oiher person io whom this report is shown or into whose hands it
may come save wher¢ ¢xpres51y agreed by our prior consent in writing.
Other reqIred rewbrting
Companies Act 20( exception reporting
Under the Companies Act 2006 we ale required to report to you if, in our opinion..
•we have not obtained all the information and explanations we require for our audit.. or
•adequate aOUntIng records have not kept by the company. or reiurns adequate for our audit have not bcen
received frojn branches not visited by us: or
•certain disclosures of directors'ltrusiees, remunerydtion specified by law are not made: or
•the financial sraiemenis aTe not in a8reeJnent with the accounting records and retums.
We have no excepiions io report arising from this responsibility.
Entltkment to exernptioNs
Under the Companies Aci 2006 we are required to report to you if, in our opinion, the dir¢ct(Trrsltrusiees were not entitled
to: take advaniage of the small companies exemption from preparing a 5trategi¢ repoff. We have no exceptions to report
arising from this responsibility.
Elsa Steiner (Senior Statutory Audltor)
For and on behalf of Finance A55oci8trs Ltd
Chartered A¢eouthtsnts and Ststhtory Auditors
iAbndon
12 Jdy 2olZ
10
Ileiiiiered ff)lp{y)1 TTrLiinbeJ' I I
The Japanese School Limited (A Company Limited by Guarantee) Statement of Financial Activities 31 December 2021
|**Statement of Financial Activities**
_Note_
**INCOMING RESOURCES**
**Incoming resources from**
**Charitable activities**
School fees
3
Bus fees
Japanese Government grants
4
Donations
Sundry income
**Incoming resources from**
**generated funds**
Rent receivable
Bank interest receivable
**Total incoming resources**
**RESOURCES EXPENDED**
**Direct charitable expenditure:**
Educational expenses
5
Hire of school buses
Management and administration
Establishment expenses
6
Other administrative expenses
7
**Governance costs**
**Total resources expended**
**Net movement in funds**
Fund balance brought forward
**Fund balance carried forward**
13|**2021**
**£**
1,113,708
69,755
687,822
507,066
14,382|**£**
2,006,848
58,910
270,224
3,107
1,341
64,650
182
2,405,262|2020
£
£
1,547,438
89,270
314,341
81,924
1,731
56,006
2,992
2,093,701
1,047,340
75,187
597,124
485,352
13,356
2,218,359
(124,658)
5,596,833
5,472,175|
|---|---|---|---|
|||
2,392,733
12,529
5,472,175
5,484,704||
||||
|
The notes on pages 16 to 22 form part of these financial statements.
All funds are unrestricted income funds.
There are no other recognised gains or losses for the financial year.
All income and expenditure is derived from continuing activities.
There is no difference between the historical cost movement in funds and the reported movement in funds for the year.
11
Registered company number 1263742
The Japanese School Limrted
{A Cumpany Limitsd by Guardnteel
Balallc¢ Sheel as at
31 December 2021
Balante She¢1
2021
2020
Naie
Fix¢d asscts
T#ngibl¢ 4ssets
3,388,597
3.774,118
Current axsets.
Debtors
Cash at bank and in hand
248,830
2,086,022
38226$
1,505,4?0
10
2J34,852
1,887,685
Credilors: amounts. falltng
due within one year
(438.745)
(189.628}
Net current 355ets
1,896,107
1,698,057
Tot41 assets less eurren¢ liabili¢ies
5,484,704
5.472,175
Capital and Reserves
Unrestricied fund5
13
5,484.704
5.472,175
These financial siatements M'ere approved by ihe tx)ard of tn]stees on 12th July ?022 and were sign&1 on
its. behalf by..
Aklhikn Taksd
Trlee
The notes on pagcs 16 to 22 fonn part of these financial statenients.
12
The Japanese School Limited (A Company Limited by Guarantee) Cash Flow Statement 31 December 2021
|**Cash Flow Statement**
**Net cash (inflow) / outflow from operating activities**
**Return on investments and servicing of finance**
Interest received
**Investing activities**
Payments to acquire tangible fixed assets
Net cash (inflow) / outflow before and after financing
Increase / (decrease) in cash
**Cash flow information**
**_Reconciliation of operating profit to net cash outflow from_**
**_operating activities_**
Operating income / (deficit)
Depreciation
Loss on disposal of fixed assets
Donations of fixed assets
Increase / (decrease) in receivables
(Increase) / decrease in creditors
**Net cash (inflow) / outflow from operating activities**|**2021**
**£**
**582,827**
182
(2,407)
580,602
580,602
**2021**
**£**
12,347
187,928
-
-
133,435
249,117
582,827|2020
£
(229,558)
2,990
(182,001)|
|---|---|---|
|||(408,568)|
|||(408,568)
2020
£
(127,650)
196,723
-
-
(129,585)
(169,046)
(229,558)|
13
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Reconciliation for Net Cash Flow to movements in net funds 31 December 2021
## **Reconciliation of net cash flow to movements in net funds**
|Note
Increase / (decrease) in cash in the period
Change in net funds resulting from cash flow
**Net funds at the start of theyear**
**Net funds at the end of the year**
16|**2021**
**£**
580,602
580,602
1,505,420
2,086,022|2020
£
(408,568)
(408,568)
1,913,988
1,505,420|
|---|---|---|
14
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Statement of Change of Equity 31 December 2021
## **Statement of Change of Equity**
||**Notes**|**Share**|**Retained**|**Total**|
|---|---|---|---|---|
|||**Capital**|**Earnings**||
|||**£**|**£**|**£**|
|||-|5,596,833|5,596,833|
|At 1 January 2020|||||
|Net income/||-|(124,658)|(124,658)|
|(expenditure) for the|||||
|year and total|||||
|comprehensive income|||||
|At 31 December 2020||-|5,472,175|5,472,175|
|and 1 January 2021|||||
|Net (income) /||-|12,529|12,529|
|expenditure for the|||||
|year|||||
|||-|-|-|
|Other comprehensive|||||
|income for the year|||||
|||-|12,529|12,529|
|Total comprehensive|||||
|income for the year|||||
|At 31 December 2021||-|5,484,704|5,484,704|
15
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes**
## **1 Members’ liability**
The company is limited by guarantee and has no share capital. Each member, whilst a member or within one year after ceasing to be a member, is liable to contribute a sum not exceeding £5 for payment of debts and liabilities of the company in the event of it being wound up. At 31 December 2021 there were 12 members (2020: 14 members) _._
## **2 Accounting policies**
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements.
## **Basis of preparation**
The financial statements have been prepared in accordance with the Statement of Recommended Practice 2000 ‘Accounting by Charities’ and applicable accounting standards and under the historical cost accounting rules. The SORP 2000 sets out recommendations on the way in which a charity should report annually on the resources entrusted to it and the activities it undertakes.
## **Fixed assets and depreciation**
Depreciation is provided by the company to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:
Freehold buildings - 50 years Furniture and equipment - 5 years
No depreciation is provided on freehold land. A full year of depreciation is provided in the year of acquisition and there is no depreciation charge in the year of disposal.
## **Japanese Government grants**
Japanese Government grants are accounted for on an accrual’s basis.
## **Taxation**
As a registered charitable organisation, the company is not subject to income or corporation tax on its charitable activities.
The School’s activities are exempt from VAT. Irrecoverable VAT is charged to the income and expenditure account or, if relating to capital expenditure, to fixed tangible assets.
## **Operating leases**
Rentals payable under operating leases are accounted for on a straight-line basis over the periods of the leases.
16
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes (continued)**
- **2 Accounting policies** (continued)
## **Pensions**
The company participates in a defined contribution scheme. The cost of providing these benefits is charged to the profit and loss account on a regular basis.
## **Reserves**
The reserves of the company comprise funds which are unrestricted and are expendable at the discretion of the trustees of the charity.
## **3 School fees**
|Entrance
Term
**Total for year**
Average number of pupils per term|**2021**
Day
school
**£**
96,355
962,486
1,058,841
302|
Saturday
school
**£**
63,694
884,313
948,007
**2,006,848**
1,088|2020
Day
school
£
74,560
889,355
963,915
334|
Saturday
school
£
54,669
528,854|
Saturday
school
£
54,669
528,854|
|---|---|---|---|---|---|
|||||583,523
1,547,438||
|||||||
||||||1,131|
All the above fees arise from the school’s activities within the United Kingdom.
## **4 Japanese Government grants**
Japanese Government grants of £ 270,224 (2020: £314,341) was comprised of £ 198,786 which contribute to the cost of locally employed teaching personnel, £23,609 which contribute to the cost of rental of school premises and equipment, and of £47,829 which contribute to the cost of hiring a security officer and the cost of maintenance of the security system during the year. The Japanese Government Seconds Japanese teachers to the school at no charge.
17
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes (continued)**
## **5 Educational expenses**
|Wages and salaries
Social security costs
Other pension costs
Educational supplies & stationery
Books and publications
Printing
Healthcare
School events
Carriage
Travel
Average number of teaching staff per term:
Seconded
Local|**2021**
**£**
866,045
39,468
21,459
106,431
2,714
4,625
30,724
5,061
22,016
15,165
1,113,708
22
95|2020
£
724,487
38,045
23,877
206,753
4,216
4,736
12,141
3,705
25,614
3,767|
|---|---|---|
|||1,047,340
22
94|
## **6 Establishment expenses**
|Depreciation
Rent of premises
Rates
Light, heat and water
Cleaning and laundry
Insurance
Maintenance
Security|**2021**
**£**
187,928
92,627
31,119
72,367
43,868
30,800
185,437
43,676
687,822|2020
£
196,724
81,265
31,892
63,263
42,616
31,472
93,548
56,343|
|---|---|---|
|||597,124|
18
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes (continued)**
## **7 Other administrative expenses**
|Wages and salaries
Social security costs
Other pension costs
Postage and telephone
Entertaining
Food
Professional fees
Sundry expenses
Loss on disposal of fixed assets
Average number of administrative staff per term|**2021**
**£**
279,111
28,415
10,139
100,161
76
974
68,215
19,975
-
507,066
8|2020
£
278,888
28,331
12,778
85,157
57
1,243
32,081
46,816
-
485,352|
|---|---|---|
|||8|
The trustees received no remuneration or reimbursed expenses from the charitable company (2021 - 0).
## **8 Tangible fixed assets**
|
**_Cost_**
At beginning of year
Addition
Disposals
At end of year
**Depreciation**
At beginning of year
Charge for year
Disposals
At end of year
**_Net book value_**
**At 31 December 2021**
At 31 December 2020|Freehold
land
**£**
1,000,000
-
-
1,000,000
-
-
-
-
1,000,000
1,000,000|Freehold
buildings
**£**
7,432,209
-
-
7,432,209
4,822,231
148,644
-
4,970,875
2,461,334
2,609,978||Furniture
and
equipment
**£**
1,728,355
2,407
-
1,730,762
1,564,215
39,284
-
1,603,499
127,263
164,140|Total
**£**
10,160,564
2,407
-|
|---|---|---|---|---|---|
||||||10,162,971|
||||||6,386,446
187,928
-|
||||||6,574,374|
||||||3,588,597|
||||||3,774,118|
All fixed assets are held for direct charitable purposes.
19
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes (continued)**
|**9**
**Debtors**
Bank interest accrued
Grants receivable
Prepayments and other accrued income
Donation from JOES
**10**
**Cash at bank and in hand**
Time deposit
Deposit accounts:
Investment account
Current accounts (including cash on deposit):
Day school accounts
Saturday school accounts
School bus accounts
Cash in hand
**11**
**Creditors: amounts falling due within one year**
Trade creditors–payroll
Accruals and deferred income
Amount owing to parents
Other Creditors|**2021**
**£**
-
179,383
66,153
3,294
248,830
**2021**
**£**
1,000,000
117,703
415,169
512.865
39,876
409
2,086,022
**2021**
**£**
103,713
35,283
298,249
1,500
438,745|2020
£
17
253,335
46,989
81,924
382,265|
|---|---|---|
|||2020
£
1,000,000
246,051
122,183
101,434
35,312
440
1,505,420
2020
£
26,993
123,655
38,981
-
189,628|
20
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes (continued)**
## **12 Taxation**
The school is entitled to exemption from taxation on its charitable activities under S505(i) ICTA 1988 as a result of its charitable status.
## **13 Reconciliation of movements in total funds**
|**2021**
**£**
Opening total funds
5,472,175
Net outgoing of resources during the period
12,529
Closing total funds
5,484,704|2020
£
5,596,833
(124,658)|
|---|---|
||5,472,175|
## **14 Commitments**
Annual commitments under non-cancellable operating leases are as follows:
## **Plant and machinery**
|Operating leases which expire:
Within 1 year
Within 2-5 years
More than 5 years
Total|**2021**
**£**
38,320
18,803
-
57,123|2020
£
39,477
57,123
-|
|---|---|---|
|||96,600|
## **15 Pensions**
Since October 1990, the school has participated in a defined contribution scheme which provides pensions for locally employed Day School and Saturday School Staff.
The trustees of the scheme are AVIVA. At 31 December 2021, 100% (Day School) and 56% (Saturday School) of eligible employees were members of the scheme (2020: 86% Day School: 46% Saturday School).
The total pension cost to the company for the year was £31,598 (2020: £36,655). At the year end, there are no outstanding contributions.
21
Registered company number 1263742
The Japanese School Limited (A Company Limited by Guarantee) Notes 31 December 2021
## **Notes (continued)**
## **16 Analysis of changes in net funds**
|Cash in hand and at bank|At 31
December
**2021**
**£**
2,086,022
2,086,022|Cash in flow
£
580,602
580,602|At 31
December
2020
£
1,505,420|
|---|---|---|---|
||||1,505,420|
22
Registered company number 1263742