**Charity registration number 276559**
**THE BRITISH ASSOCIATION FOR JAPANESE STUDIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Dr M Patessio|
|---|---|
||Dr J Coates|
||Dr H Osbourne|
||Dr F Gigy|
||Dr C Hayes|
||Professor P Kornicki|
||Dr R Meade|
||C Perkins|
||S Bamkin|
|**Charity number**|276559|
|**Registered office**|SOAS, B405|
||University of London|
||London|
||WC1H 0XG|
|**Independent examiner**|Darren Harding ACA FCCA DChA|
||Richard Place Dobson Services Limited|
||1-7 Station Road|
||Crawley|
||West Sussex|
||RH10 1HT|
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 12|
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
The charitable objective of the charity is "to encourage Japanese Studies in the United Kingdom, by stimulating teaching and research". With this in mind, the Association's first Conference was convened in Cambridge at Easter 1975, and since then the Conference has been an annual event and more recently a triennial event, now held in September at one of the UK's universities. The Association admits individuals supporting its aims, and has a membership of over three hundred, including academics (full-time and emeritus), postgraduate students and lay members of the public.
In addition to its Conference, the Association supports the publication of an academic journal, Japan Forum, which is published five times a year. Japan Forum is distributed to subscription-paying members of the Association, and is additionally sold to academic libraries and other research organizations through its publisher, Taylor & Francis/Routledge. A separate editorial board manages Japan Forum, and the Senior Editor attends and reports to Council meetings.
On behalf of the Association, the Council also administers a number of annual awards (up to £2,500 per individual) to postgraduate students, with the aim of supporting a new generation of Japanese scholars in the UK.
Finally, members of the Council serve as representatives of Japanese Studies on relevant area-studies committees and other government bodies, and they maintain good relations with the Embassy of Japan in London and various other AngloJapanese organizations.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
BAJS overall income has remained steady during the past year. It might not seem clear from the comparison with 2022, as the recorded total income for 2022 was £63,495, which included a debtor of £21,000. Without the debtor the income would have been £42,495, which was much lower than in 2021 when it was £68,497. This was due to the fact that Taylor and Francis, the publishers of Japan Forum, have reduced the proportion of royalties paid to BAJS in advance. A large sum was paid to BAJS by T&F in January 2023 for the editorial work done in 2022, which is reflected as a debtor in the 2022 accounts. As such, the official income for 2022 was £63,495 (but would have been £42,495), whereas for 2023 was £50,467.
As for the association's expenditures, the total was £60,794 in 2022 compared to £68,898 in 2023, partly due to having changed website providers and having redone the Charity's website. In 2023 we handed out almost £3000 in Conference Attendance Support, compared to £4,000 in 2022 (a discrepancy that amount to either 4 applications for conferences in the UK or 2 abroad), but we expect to receive many more requests in 2024, when BAJS will organise JEASC with BACS and BAKS. We have also paid out £11,400 in John Crump Studentships. Other expenses, such as the editorial grant to the Japan Forum team and the payments made to SOAS to house BAJS remained the same. BAJS is yet again in a very comfortable financial position.
## **Financial review**
During 2023, the Association had net outgoing resources of £18,431 (2022: net incoming resources £2,701). The BAJS Council maintains its strategic aim of using the reserve at a sustainable rate, and also preserving our ability to be flexible in the types of expenditure to which we commit.
Historically, the council has maintained the protection of a reserve level equivalent to twelve months' income. At the year end date the reserves are above that level at £62,605, of which £4,083 is designated - please refer to note 12. The trustees are in the process of reviewing the position with their reserves and intend to set aside a designated fund going forward for future scholarships and studentships.
page 1
THE BRITISH ASSOCIATION FOR JAPANESE STUDIES
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trusiees are in th¢ PTOC¢55 of id¢ntifyirtg the major risks to which the charity 15 ¢xpo$ed. and (kv¢lopiTJg a risk
managem¢nt p)licy.
Strutture? goveTnan¢¢ wnd m¥Dagement
The Briiish A550¢ialion for Japanese Studies, which was ¢stablish¢d in 1974. is govemed by 4 Consti110. Tbis Siipulate$
that the Association'5 individual m¢rnbcT5. who join by paying an annual subscripuon, must hav¢ the oppottunity to meet
ev¢ry y¢ar for an Annual General M¢¢tin8, al which a Council is elected. Th¢ Council cotnpriscs the TNstees (President.
Honorary TTe&suter, Honorary Secretary). at l¢ast one, but no mort than three. EleGt¢d MembeTs," th¢ Cbair of the Japan
Rescarch CetLtr¢. SOAS Urtivetsiry of London. where BAJS 15 based; the Director of th¢ BAJS Japan Chapier. the Setiior
EditOT of the Japan Forum. and no Tnore than four Co-opted M¢mb¢TS {t}se may include the immediate Past PTesident,
iTtuJ]ediate past Honorary Secretary and the immediatc past Honorary Tr¢a5urer in situations whcrc continued input on
panicular activiti¢s is required. Post-graduat¢ ai)d post-do¢toral members of BAJS Tnay also be Co-opted Members of
Couttcil. Co-opted Tn¢mbet8 may also be individuals or rew¢sentatives of orgaThi2ations in syrnyathy with the Obje¢tive of
theAssociation.
Thc truste¢5 who $etved duting the year and up to the da* of si8llature of the funCl31 slatcmcnts were..
Dr M Pat¢5$10
Dr V Young
DT l Rapley
Dr J Coales
Dr H Osbournc
Dr F Gigy
Dr C Haycs
Prof¢sSOT PKortiicki
DT R Meade
C PeTkills
S Bamki
(Resiglled 19 August 2023}
(Resi]ed 19 August 2023)
(R¢sigtsed 31 DecemF*r 20231
The Council m¢ets around thrce times a year leither Arouttd a table. or as a virtual m¢¢ting) to th'scusg Association busLDCSS.
The BAJS SecTetsriai js Present at these meetings. and the Secretariat additionally administ¢rs the cvcryday nccds of the
Association. TTUSt¢¢s usually 5eTve one two or three-year term, although this cat) be exicndcd or ren¢wed for up to two or
thTee additional ycars with th¢ p¢rmi5sion of the mcmbership as gain¢d ai the AGM. In excepiionaj ¢ircums(ances, the
Honorary Treasurer may be appoinicd by the Council, and the apintmen1 is th¢n ratified by the ncxi Atim.
The tnjstces. TCIKkrt was approved by the Board of Trustees.
Dr R Me¥de
Trustcc
pag¢ 2
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
I report to the trustees on my examination of the financial statements of The British Association for Japanese Studies (the charity) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do 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.
I 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 financial statements to be reached.
## **Darren Harding ACA FCCA DChA**
Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT
Dated: .........................
page 3
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2023**|**2022**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Charitable activities|**3**|50,467|63,495|
|**Expenditure on:**||||
|Charitable activities|**4**|68,898|60,794|
|**Net (expenditure)/income for the year/**||||
|**Net movement in funds**||(18,431)|2,701|
|Fund balances at 1 January 2023||81,036|78,335|
|**Fund balances at 31 December 2023**||62,605|81,036|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
page 4
THE BRITISH ASSOCIATION FOR JAPANESE STUDIES
BALANCE SHEET
ASA T 31 DECEMBER 2023
2023
2022
Notes
FiJed #$$ets
Tangible &sset8
3,086
1,099
Current assets
Debtors
Cash at bank attd in halld
21,(M)O
61,950
69,456
69.456
82,950
Cttdhors.. *mount5 falliDg due wlthln one
ye*r
li
(9.937)
(3.013)
N¢l ¢wrent assets
59,519
79,937
Total ¥55ets Iu5 turrent liabilities
62.605
81.036
14tome fund5
Ujjrestrictcd fid5
Designat¢d fvnds
General UDTestri¢ted fijnds
12
4.083
58.522
80.195
62,605
81,036
62,605
81,036
The finan¢ial $iaiemenis were approved by th¢ TnLsi¢es ot)...
r R Mrade
Trusttt
page 5
**THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Charity information**
British Association for Japanese Studies is a charity registered in England and Wales, the governing document is a constitution adopted 24 June 1974 as amended December 1977, 01 May 2019 and 20 May 2019.
The principal address of the charity is SOAS, B405, University of London, London, WC1H 0XG.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:
Expenditure on charitable activities includes the costs of conferences, grants and the Japan Forum and their associated support costs.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include premises and office related costs which support the charity's activity. These costs have been allocated to expenditure on charitable activities.
page 6
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
**(Continued)**
Governance costs include those incurred in the governance by the trustees of the charity's assets and are primarily associated with constitutional and statutory requirements of operating the charity. Governance costs are included within support costs and allocated to charitable activity costs.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment 33% Straight line Computers 33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors are recognised at transaction price unless the arrangement constitutes a financing transaction.
## **1.9 Taxation**
The charity is not subject to corporation tax or any other taxes on income or gains arising from its charitable objectives.
page 7
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Charitable activities**
|**Subscription**
**income**
**Conference**
**income**
**2023**
**2023**
**£**
**£**
JF Editorial Royalties
46,061
-
Subscriptions
-
4,406
46,061
4,406|**Total**
**2023**
**Subscription**
**income**
**Conference**
**income**
**2022**
**2022**
**£**
**£**
**£**
46,061
57,463
-
4,406
-
6,032
50,467
57,463
6,032|**Total**
**2022**
**£**
57,463
6,032|
|---|---|---|
|||63,495|
## **4 Charitable activities**
|**Conferences Japan**
**2023**
**£**
Studentships
-
Japan chapter
-
Conference Support
2,942
JF Editorial Team
-
SOAS
-
JF PG Workshop
50
2,992
Grant funding of activities (see note 5)
-
Share of support costs (see note 6)
-
Share of governance costs (see note 6)
-
2,992
**Analysis by fund**
Unrestricted funds
2,992|**Forum**
**Grants**
**2023**
**2023**
**£**
**£**
10,000
-
4
-
-
-
12,457
-
13,536
-
-
-
35,997
-
-
21,750
5,283
-
2,876
-
44,156
21,750
44,156
21,750|**Total**
**2023**
**£**
10,000
4
2,942
12,457
13,536
50|
|---|---|---|
|||38,989
21,750
5,283
2,876|
|||68,898|
|||68,898|
page 8
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **4 Charitable activities**
**(Continued)**
|**Conferences Japan**
**2022**
**£**
Studentships
-
Japan chapter
-
Conference Support
3,906
JF Editorial Team
-
SOAS
-
JF PG Workshop
2,423
6,329
Grant funding of activities (see note 5)
-
Share of support costs (see note 6)
-
Share of governance costs (see note 6)
-
6,329
**Analysis by fund**
Unrestricted funds
6,329
6,329|**Forum**
**Grants**
**2022**
**2022**
**£**
**£**
10,000
-
340
-
-
-
13,594
-
5,787
-
-
-
29,721
-
-
16,160
5,598
-
2,986
-
38,305
16,160
38,305
16,160
38,305
16,160|**Total**
**2022**
**£**
10,000
340
3,906
13,594
5,787
2,423|
|---|---|---|
|||36,050
16,160
5,598
2,986|
|||60,794|
|||60,794|
|||60,794|
## **5 Grants payable**
|**Grants**
**2023**
**£**
Grants to individuals
21,750
21,750|Grants
2022
£
16,160|
|---|---|
||16,160|
page 9
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **6 Support costs**
|**Support costs**
**Governance**
**costs**
**£**
**£**
Depreciation
1,206
-
Sundries
-
-
Council Travel
151
-
Website Costs
3,926
-
Bank Charges
-
-
Independent Examiners
Fees
-
2,876
5,283
2,876
Analysed between
Charitable activities
5,283
2,876|**2023**
Support costs
Governance
costs
**£**
£
£
1,206
450
-
-
916
-
151
2,312
-
3,926
1,920
-
-
-
25
2,876
-
2,961
8,159
5,598
2,986
8,159
5,598
2,986|2022
£
450
916
2,312
1,920
25
2,961|
|---|---|---|
|||8,584|
|||8,584|
Governance costs includes payments to the Independent Examiner of £2,736 (2022 - £2,607) for independent examination fees.
## **7 Trustees**
The Trustees received expenses of £nil during the year ended 31st December 2023 for travel. Five trustees received expenses of £2,218 during the year ended 31 December 2022 for travel to council meetings
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
page 10
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**9**
**Tangible fixed assets**
**Fixtures, fittings**
**& equipment**
**Computers**
**£**
**£**
**Cost**
At 1 January 2023
4,331
2,086
Additions
1,099
2,093
At 31 December 2023
5,430
4,179
**Depreciation and impairment**
At 1 January 2023
4,331
987
Depreciation charged in the year
366
839
At 31 December 2023
4,697
1,826
**Carrying amount**
At 31 December 2023
733
2,353
At 31 December 2022
-
1,099
**10**
**Debtors**
**2023**
**Amounts falling due within one year:**
**£**
Other debtors
-|**Total**
**£**
6,417
3,192|
|---|---|
||9,609|
||5,318
1,205|
||6,523|
||3,086|
||1,099|
||**2022**
**£**
21,000|
The above debtor represents Royalties due to British Association for Japanese Studies at the end of the financial year. Taylor and Francis, the publishers of Japan Forum, have reduced the proportion of royalties paid to BAJS in advance so therefore they have been brought in to 2022 as a debtor.
## **11 Creditors: amounts falling due within one year**
|Trade creditors
Accruals|**2023**
**£**
7,200
2,737
9,937|**2022**
**£**
-
3,013|
|---|---|---|
|||3,013|
page 11
## **THE BRITISH ASSOCIATION FOR JAPANESE STUDIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **12 Designated funds**
|||**Balance at**|**Transfers**|**Balance at**|**Transfers**|**Balance at**|
|---|---|---|---|---|---|---|
||**1**|**January 2022**||**1 January 2023**||**31 December**|
|||||||**2023**|
|||**£**|**£**|**£**|**£**|**£**|
|Japan Editorial Forum||2,200|(1,842)|358|3,242|3,600|
|Japan Chapter||-|483|483|-|483|
|||2,200|(1,359)|841|3,242|4,083|
The Japan Editorial Forum fund represents unspent Japan Editorial income in 2023 which is to be ring-fenced for 2024.
The Japan Chapter fund represents unspent Japan Chapter funds which is to be ring-fenced for 2024.
## **13 Related party transactions**
There is a research allowance paid to the Universities that the board of trustees work at. During 2023, £7,500 was paid in respect to this allowance (2022 - £5,916) at the end of the financial year.
page 12