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||CATEGORY by percentage|spend compared|to 2021|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%|
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||||||||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)|
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|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|
##
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|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|
##