2022-12-31-accounts - The Great Britain Sasakawa Foundation

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	CATEGORY by percentage	spend compared	2022	2021
	Arts and Culture		51%	58%
~	Humanities and Social Issues		13%	10%
i	Japanese Language		4%	2.50%
	Medicine and Health (including	Butterfield)	12%	16.50%
	Science, Technology & Environment		8%	2%
	Sport		6%	0%
,	Youth and Education		6%	11%

							2022	2021
INCOME AND				Unrestricted	Restricted	Endowment	Total	Total
ENDOWMENTS	FROM:			Funds	fund	Funds	Funds	Funds
						(Including
						unapplied
						total return)
Investments			2	958,167		306,819	1,264,986	1,123,587
Charitable activities			13		320,000		320 000	330,000
Total				958167	320 000	306 $19	1 584 9$6	I 453 5$7
EXPENDITURE	ON:
Raising funds
investment management			5	55,884		17,895	73,779	93,660
Charitable activities
Grant making			3	695,971	326,364		1,022,335	790,462
Total (losses)/gains				751 855	326,364	17,895	1 096 114	884 122
Net (loss)/income investments	on		9	(3,584,280)		(1,147,740)	(4,732,020)	4,879,809
Net (loss)/income year	for the			(3,377,968)	(6,364)	(858,816)	(4,243,148)	5,449,274
OTHER RECOGNISED
LOSSES
Foreign exchange	losses			3,482			3,482	(9,897)
Transfer between	Funds		13
NET MOVEMENT IN FUNDS				(3,374,486)	(6,364)	(858,816)	(4,239,666)	5,439,377
RECONCILIATION		OF
FUNDS
TOTAL FUNDS BROUGHT FORWARD					9,141	13,327,691	46,581,329	41,141,952
TOTAL FUNDS FORWARD	CARRIED		13g)4	29 g70 011	2,777	12,468,875	42,341,663	46,581,329

	BALANCE	SHEET AS AT 31	SHEET AS AT 31	DECEMBER 2022	DECEMBER 2022
					2022	2021
		Notes
FIXED ASSETS
Tangible assets
Investments					41,493,223	45,850,784
					41,493,223	45,850,784
CURRENT ASSETS
Debtors				263,091		230,946
Cash at bank and in hand				1,407,389		1,327,960
				1,670,480		1,558,906
CREDITORS: amounts	falling due
within one year		12		(822,040)		(828,361)
NET CURRENT ASSETS					848,440	730,545
TOTAL NET ASSETS					42,341,663	46,581,329
RESERVES
Restricted Funds			13	& 14	2,777	9,141
Endowment Funds			14		12,468,875	13,327„691
Unrestricted Funds			14		29,870,011	33,244,497
TOTALFUNDS					42,341,663	46,581,329
These financial statements	were approved	by the Board	ofTrustees on ...		.....(DATE)

				2022	2021
Cash flow/(outflow) from	operating	activities
Net cash provided by/(used	in) operating		activities	(753,175)	(689,125)
Cash flows from investing	activities
Investment income and interest received				1,193,853	1,123,587
Proceeds from disposal of	fixed asset	investments		3,310,744	8,655,427
Acquisition offixed asset investments				(3,671,993)	(19,847,005)
				832,604	(10,067,991)
Net (decrease)/increase in cash and cash equivalents				79,429	(10,757,116)
Cash and cash equivalents	at beginning		ofyear	1,327,960	12,085,076
Cash and cash equivalents	at end ofyear			1,407,389	1,327,960

				2022	2021
Net income				(4,239,666)	5,439,377
Adjustments for:
Depreciation charges
Net gains on investments				4,789,943	(4,879,809)
Investment income				(1,264,986)	(1,123,587)
(Increase)/Decrease	in debtors			(32,145)	(155,802)
Increase in creditors				(6,321)	30,696
Net cash provided	by/(used	in) operating	activities	(753,175)	(689,125)

Year to	31	December 2	022
				Restricted Fund	Unrestricted Fund	Endowment Funds	2022
Interest	on	bank deposit	accounts		3,709	1,188	4,897
Dividends securities		from equities	and other		954,458	305,631	1,260,089
					958,167	306,819	1,264,986
Year to	31December 2021
				Fund Restricted	Fund Unrestricted	Funds Endowment	2021
Interest	on	bank deposit	accounts		941	560	1,501
Dividends securities		fmm equities	and other		703,099	418,987	1,122,086
					704,040	419,547	1,123,587

Year to	31December 2022
		Unrestricted	Restricted
		Fund	Funds	2022
Awards	payable (see note 4 below)	474,971	300,000	774,971
Support	costs (see note 5below)	221,000	26,364	247,364
		695,971	326,364	1,022,335

		Unrestricted	Restricted
		Fund	Funds	2021
Awards	payable (see note 4 below)	248,109	300,000	548,109
Support	costs (see note 5 below)	214,651	27,702	242,353
		462,760	327,702	790,462

THE FIN IAI. ST NT — ~Ad dl	THE FIN IAI. ST NT — ~Ad dl	THE FIN IAI. ST NT — ~Ad dl	T YE	T YE	AR E	IDE E 2 —	IDE E 2 —	nti	nti
The awards payable were for charitable			purposes		in pursuance	ofthe Foundation's		objects. The
awards payable for the	year comprise:-
Year to 31December	2022				Unrestricted		Restricted
						Fund	Funds		2022
Awards granted during	the year					549,186	300,000		849,186
Adjustments in respect	ofawards	granted		in prior	years	(74,215)			(74,215)
Awards payable						474,971	300,000		774,971
Year to 31December	2021				Unrestricted		Restricted
						Fund	Funds		2021
Awards granted during	the year					267,256	300,000		567,256
Adjustments in respect	ofawards	granted		in prior	years	(19,147)			(19,147)
Awards payable						248,109	300,000		548,109
Anal sis of charitable	ex enditure
Other resources expended are made up			as	follows;—
						Charitable
Year to 31December	2022			Investment M~dl		Support Costs	Governance		Total 2022
Investment management	fees				51,628				51,628
Staff costs (see note 6(b) below)					6,085	93,629	51,033		150,747
Legal and professional	fees				1,905	5,971	12,328		20,204
Costs ofManagement	Council Meetings				87	481	746		1,314
Other administrative expenses					1,211	19,698	7,231		28,140
Office rents and services					1,074	22,992	8,780		32,846
					61,990	142,771	80,118		284,879
Direct governance costs
Auditors remuneration:	Current year						9,900		9,900
					61,990	142,771	90,018		294,779
Allocation ofgovernance support		cost			11,789	78,229	(90,018)
					73,779	221,000			294,779

Employme	nt costs -	all	employ	ees
								2022	2021
Aggregate	gross wages		and salaries		paid to	the Foundation's	employees	126,140	121,128
Employer'	s national	insurance		contributions,		or foreign equivalents		21,639	19,851
Provision	for retirement		allowance		for amember ofstaff			(1,728)	(2,045)
Staffpension								4,696	4,559
								150,747	143,493

N	T THE FINAN IAL STATEME	NTS - FOR THE	I DE	22 —continued
9.	Fixed asset investments
			2022	2021
(a)	The movements during the year were as follows:-
	Middle market value at 1 January		45,850,784	29,779,397
	Additions at cost		3,687,820	19,847,005
	Disposals at open market value		(3,419,746)	(8,248,717)
	(Proceeds K3,310,744 realised	loss f109,002)
	Unrealised gains on revaluation	at 31December	(4,625,635)	4,473,099
	Middle market value at 31 December		41,493,223	45,850,784
	Cost at 31 December (see note	9(d)below)	41,105,665	40,553,106
(b)	Analysis of listed investments
			2022	2021
				K
	Equities, Unit Trusts/OEICs		41,493,223	45,850,784
			41,493,223	45,850,784

		~Holdin	Market Value
Year to 31December 2022		2022	2022
Unit Trusts/OEICs
Cazenove Charity Responsible	M-A Fund	19,356,859	10,311,399
CCLA COIF Charity Funds		1,155,197	20,995,582
		~Holdin	Market Value
Year to 31December 2021		2021	2021
Unit Trusts/OEICs
Cazenove Charity Responsible	M-A Fund	N/A	3,130,333
CCLA COIF Charity Funds		1,153,429	23,721,890

						Permanent	Endowment
							Unapplied
						Trust for	Total	Total
						Investment	Return
						f
At the beginning	ofthe year:
Gift component	ofthe peunanent		endowment			11,120,996		11,120,996
Unapplied total	return						2206 695	2 206 695
Total endowments						11,120,996	2,206,695	13,327,691
Movements in the reporting		period:
Investment return: Total investment				income			306,819	306,819
Investment return: realised and unrealised					gains
and losses							(1,147,740)	(1,147,740)
Less: Investment	management	costs					(17,895)	(17,895)
Total							(858,816)	(858,816)
Unapplied total	return allocated		to income		in the
reporting period
Net movements	in the reporting			period			858,816)	(858,816
At end ofthe reporting period:
Gift component	ofthe permanent			endowment		11,120,996		11,120,996
Unapplied total	return						1,347,879	1,347,879
Total Endowments						11,120,996	1,347,879	12,468,875

			2022	2021
11.	Debtors
	Dividends	receivable	177,329	175,663
	Prepayments		7,008	2,936
	Other debtors		78,754	52,347
			263,091	230,946

	In both 2022 and 20	In both 2022 and 20	21, all d	ebtors at the	year	end were includ	ed in the unrestricted	fund.
12.	Creditors - amounts		fallin	due within	one	ear
							2022	2021
	Awards	payable					400,243	405,477
	Other creditors						68,277	69,066
	Accruals						353,520	353,818
							822,040	828,361

				Balance	Balance	Funds		Funds	Funds	Transfers		Balance
	Year to 31December		2022	01.01 2022		R 1	d	~E*	d d	~il t	3L22 2022
	Sasakawa Japanese	Studies
	Postgraduate Studentship
	Programme				9,141	320,000			326,364			2,777
					9,141	320,000			326,364			2,777
				Balance		Funds		Funds		Transfers		Balance
	Y t 31D	0	2021	01.012021		R 1	d	~E*	d d	~in/ out	31.122021
	Chatham House Conference
	Programme				13,328					(13,328)
	Sasakawa Japanese	Studies
	Postgraduate Studentship
	Programme				6,843	330,000			327,702			9,141
					20,171	330,000			327,702	(13,328)		9,141
14.	Allocation ofNet	Assets between			Funds
	Year to 31 December		2022		Unrestricted			Endowment		Restricted		Total
						Fund			Fund	Funds		Funds
	Fixed Assets
	Tangible assets				29,161,542			12,331,681				41,493,223
	Current assets				1,210,509			137,194		322,777		1,670,480
	Current liabilities					(502,040)				(320,000)		(822,040)
					29,870,011			12,468,875		2,777		42,341,663

Details							Amount
Amounts	due within		one	year			16,50
Amounts	between		1 year	and 5years.			41,25
Total							57,75
Related Par		Transactions
						2022	2021
Received fmm The Nippon				Foundation		320,000	330,000
Annual corporate		membership			paid to Japan
Society						350	350
						320350	330350