Company registration number.. 02042768 Charity registration numb8r 29S006 UNITED KINGDOM-JAPAN 21sf CENTURY GROUP (A company limited by guarantee) Unauditsd Financial Statements For the year end 31 March 2024 UNITED KINGDOM-JAPAN 21ST CENTURY GROUP (A company limited by guarantee) REPORT AND FINANCIAL STATEMENTS 2024 CONTENTS Page Off￿er$ and Professional Adviser Reptsrt of the Trustees Independent Examinerfs Report Statement ol Financial Activrbes lincorporating an income and expenditurg account) Balance Sheet Notes to the Financi￿ Statements 8- 11 UNITED KINGDOM￿APAN 21ST CENTURY GROUP {A company Ilmited by guarantee) OFFICERS AND PROFESSIONAL ADVISERS MEMBERS OF THE BOARD (TAUSTEESI Rt Hon Lord Lansl6y ol Orwell C8E PC IChwm)anl Rt Hon Lord Mcconnell of Glenscorrodale PC (freasurerl David Fitton CKIG IEx¢¢utive Director) Baroness 8arker Dr Lisa Cameron MP Sylvain Lacomble Paul Maddèn Dr John Nilsson Williamson-wright David Rirhardsofl Edward Week& SEcR￿ARy D8wd Fitton CMG REGISTERED OFFICE clo The Japan Society 13114 Comw811 Terrace London NW1 4ap CHARrrf NO.: 295006 COMPANY NO.: 02042768 BANKERS CAF Bank 25 ￿ng5 Hill Avenue Kings Hill West Malling Kent ME19 4JQ SOLICITORS Mayer Brown Rowe & Maw LLP 11 Pilurim Street London EC4V 6RW INDEPENDENT EXAMINER Darren Harth"ng ACA, FGCA, DChA Richard Place Dobson Services ￿rnI￿d 1-7 station Road Craw16y Wes¢ Sussex RH101HT UNITED KINGDoM￿ApAN 21ST CENTURY GROUP (A company limited by guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors ol th¢ chaiity lor the pu￿Se$ ot the Companies Act 2006, present their r6P()rt wifh the financi81 statements (>1 tre charty lor the year ènded 31 March 2024. The linan¢ial statements have bsen prepared in accordance with the accouftting policies set OLrt in note 2 to the financial staternents and comply with the ch8ritable company's memorandum and articles ol association. The twsteos have adapted the provisions of Acmunting and Reporting by Charities= Statement ol Rewmmendèd Practice applicable to Charities preparing their awounts in accordance wych thé Financial Reporting Standard applicable in the UK and Republic ol Ireland IFt4S 1021 leftective 1 January 20191. INCORPORATION AND REGISTRATFON AS A CHARITY The company is incorpoyated underthe Companies Act and is limited by guarartee, the liabilty ot each mÈmberbeing limated to £1. At 31 March 2024 there were 85 membErs and asS￿ate members12023- 651. The company is registered with the Charity Commission, re9istrafjon number 295006 and Companies House, registration numb8r 02042766. BOARD The members ol the Boa¥d are thè directors ol the company for the purposes of company law and arè shovm below. The metnbers ol the Board who seNed during the year were as follows= Rt Hon Lord Lansley ol Orwall CBE PC Ichaimianl Rt Hon Lord ￿COnnell ol Glenscorrodale PC (Treasurer) Dawd CMG IExe¢utive Director) 8aronèss Bad(er Dr knsa Cameron MP sY￿aIn Lacomble (Appointed l December 20231 Paul Madden CMG DrJohn Nilsson Williamson-wright Thomas IR88igned 1 N¢vember 20231 Dawd Flichardson Nigel Talboys Edward Weeks IFl¢signed 31 December 20221 (Appointed 19 February 20241 srRUCTURE, GOVERNANCE AND MANAGEMENT Governin Document The UK-Japan 21st Century Group Iyhe GToupI is a eharitable company limited by 9uarantee govemed by its Memorandum and Arti¢les of Association amended in 2003 an(J further amended in 2010, 2014 and 2018 to take account of the latest govemance practice. There is a widèr informal grcTrup known as 'Metnb8rs ol the Group, who are inwted to attend thè Annual General Meeting and any othèr appropriate maètings that way be called by the Chairman. The members considerths annuaj report of the Board at thè Annual General Meettng, di8¢uss objectives forthe next annual conference and confirm the appointment of new directors who have been invited to join the Board subsaquent to the previous Annual Genèral Meeting. Onevthird of the Board ctl Dir6etors in rotation are required to resign each year and seek re-election at the Annual General Meeting. Mernbers are aL80 asked to conlimi tha ￿-appOintment of Ihostr seeking re-election. UNITED KINGDOM-JAPAN 21ST CENTURY GROUP (A company limited by guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 oin nt of Director3tfrustees The Board, in accordanee WEth practice laid down in the Articles ol Association, appoints dirèctOTS. Such appointments are confirmed at the Annual General Meeting. Undèr changes introduced at the October 2014 AGM, di￿10r$ (who are not the nominees ol sponsors) ale ntsrrnally appointèd fDr ￿0 3-year temis. 8y exception, individual mernbers tnay be offered a 1-year extension on an annu81 basis with the agreement ol the Board. anisation There must be a minirrum ol 2 and up to a maximum of 18 directors on the Board. The Bwd mèets quartedy to make execLÈtive deersions. In the intgrim the company is run by the Executive Director, who remains tn Glose cont8Ct wrfch the Chaiman and the Treasuroi. secret￿[￿1 support and the keeping ol accounts are provided by the Jap8n Socièty, which is eontracted lor this by the Board. Fltsk Mana nt The greatest risk to the future of the Group is that il will lind it impossible to raise the funds necessaty lor its administration and the holding ol the annual confèrènce. To counter this risk. the Board has instituted a fundrnising strategy to secure and mainlain the Commitment ol further sponso￿. The Board continues to rewew the level of contributions and the implementation ol the strate9y at its quartedy Boaid me&tings. The current resetvès and contributions arg sufficient to meet projectad expen￿lture lor al least the next 12 mc>nths. ineluding the planned eonference in 2025. OBJECTIVES AND AcTIV￿lEs Public Benelit We have rèferred to the guidance contained in the Charity comffliss￿n's 9enèral guidance on public bèn8fit when reviewing É>ur aims and obl￿tIveS and in planning Durtuture activities. Ob-eclives The objectives of the company are to advance the education of the citizens ol the United Kingdom an¢J Japan in all aspects ol each otherfs public institubons and systems of govemffl8nt, as wèll as each othols political and economic institutions, industry. social scierw and culture. Activities The Group pursues its objeclnfes through holding an annual conlttrEnce wrth its Japanese counterparts, a41emately in Britain and Jap8n. As part of ihe ￿nference programme, delegates meet with thè respective Prime Ministers and attend further events and meetings hosted by govemm¢nt representatives and other bodies. Following èach conlerèn¢e, the British Co-chairman submits lo thè Brits'sh Prime Minister rÈcommendations lomiukted by the Group at thè conference, notably on ways in which cooperation anfl collaboration between the two eountries might be enhanc¢d. The Executive Director rnaintains fftgular contact with relevant UK-Japan bodies throughout the yeai to ensure that any outstanding issu¢s in the bilateral relationship are addressed by the GTOUP. Conferènce leedba¢k is communieaiéd directly to the wder membership and there is an opportunty at the AGM for mernbers to contribute to the agenda of future Conferen￿$. In addition, th8 Group period￿allY orgallises and h&% involvement in public serninars and rneetings that addi aspects ol UK-Japan relations and build on the themes aThY recotnrnendations of the annual COnfe￿nCe. ACHIEVEMENTS AND PERFORMANCE The 40th conference was hald on 24 February 2024 al the Hitton Hotel in Odawara. 18 Brthsh and 24 Japanese participants from parliament, business, thè media and academia took part. The Confe￿nCe discussions I[￿u$ed on a range ol challenges and opportunitie5 for the UK and Japan under headings including. global securty- China, the US response to intemational security,- climat& change and energy.. enhancing innovakn.on irk global health through collaboration," and policy implicat'ons of developments in Artificial intelligence. The Group concludod its conferencg discussions with a series ol stsbst8ntive joEnt recommendations. These have been published wtth the ch￿rM8m'S Summary on the wèbsites ol the Japan Society and thè dapan C¢nter for Intemational Exchange and will be circulated l(} the wider membership ol the Group. Thè UK Co-Chaimi8n, Lord La￿￿ey, communicated a summary ol th8 Group's discussions at the 40th conferer togethèr ￿th the conference racomrnendat(¢ns to the Prime Ministerartd has received a cross-govemment response. Planning lor the 4]￿ annual ¢tsnlerence in the UK in 2025 has begun, although thé precise dates have yelto be fixèd. UNITED KINGDOM-JAPAN 21ST CENTURY GROUP (A company limited by guarantee) REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FLTfuRE PLANS The Group's conferences are organised so as to promot8 and fulfill the Group's objectlV8s as above, and in particular to bring to bear a senior non-governmental perspective on enhancing UK-Japan cooperation and collaboration. The value ol the Conferences may b8 shown by the influents.al nature of the representation from parli8ment, business, the media and academia present on both sides and by the importance attached to the surnmary and recommendations that they produce lorthe two Prime Ministers. This is reflected in the response received from both govemments and the specific 8reas ol follow-up that are pursued. The Group is committed to building on the discussions that take place at the afinual Confe￿ne& by periodically participating in, and organising, events that highlight aspects of UK-Japan relations. FINANCIAL REVIEW At 31 March 2024, the Group held unrestricted reseNes of £46,973. The Group's resetves continue to be sufficient to cover 12 months expendittjre in line with the Group's reserves policy. The Group's income comes from live major sponsors. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the special provisions lor small companies under Part 15 01 thè Cornpanies Act 2006 Approved by the Board and signed on behalf ol the Board David Fitton CMG Executive Director UNITED KINGDOM-JAPAN 21ST CENTURY GROUP (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE UNITED KINGDOM.JAPAN 21ST CENTURY GROUP Independent èxamineV¥ rep¢Jrt to the trustees of United Kingdom-Japan 21st Century Group {Ihe Charitable Company'l I report to the charity tntstees on my examination ol the accounts ol the Charitable Company forthe year ended 31 March 2024. Responsibilities and basis of report A5 the chartys trusteés of the ¢haritab18 Company larxl also Its directors lor the putposes of company lawl you ar¢ responsible lorthe preparation of the accounts in accordance with Ihe requirements of the Companies Aet 2006 Ilhe 2006 Act'l. Having satisfied mysèlf that Ihe accounts of the Charitable ComF*8ny a￿ not required to be audited L¢nder Part 16 01 the 20(6 Act and are èligible lor independent examination, I report in respect ol my examinab.on of yourcharitys accounts as carried out under section 145 of the Charities Aet 2011 Ilhe 2011 Act'l. In eairying out my èxaminalion I have foljowed the Directtons given by the Charity Cotnmission under section 145151 Ibl ol the 2011 Act. Independent 8xaminèr'$ statemè I have completed my examin8ty'on. l ¢onfimi that no matters have Come to my attention in connection with t examEnalion giving me cause to believg.. acwuntin9 records were not kÈpt in respect ol thè Cornpany as required by section 386 ol the 20(b Art. or the ac¢ounts do not aecord wrth those records,. or the accounts do not compty with the accounting requirements of section 396 01 th¢ 2006 Act other than any requir8meni that the accounts give a true and f￿r view wh￿h is not a matter consi(kred as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles ofthe Statement ol Recommènded Practice lor accounting and retK)rting by charities applicable to charitses preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and ReplA)I￿ ol Ireland IFRS 1021. I hav¢ no concÈms and have come ￿ro$S no other mattgls in connection with the examination to whifjh attentitsn Shou￿ be drawn in Ihis r¢port in order to enable a proper understanding of the accounts to b8 read)ed Darren Harding AC& FCCA. DChA Flichard Place Dobson Services Limited Chart8red Accountants 1-7 Station Road Crawley West Sussex RH10 1HT Date." UNITED KINGDOM￿APAN 21ST CENTURY GROUP (A company limited by guarantee) Statement of financial activities (incorporating an income and expenditure account for the ear ended 31 March 2024 Notes 2024 2023 Income and expenditure Income from: Donations and sponsorship 37,500 26,500 Charitable activities- roirnbutsement of conference delegatès, expenses Investrnent income- bank interest receivable 4.799 1,188 530 Total Inctsme 39,254 31,829 Expenditure on.. Advancement & education ol citizens of UK & Japan-. 52,055 64,665 N•t incoming I (outgoing) ￿soUrCes, being nèt incomè I lexpendlturèl for the year (12,8011 132,8361 Total funds brought forward 59,774 92,610 Total lunds carried forward 46.973 59,774 Thè net incomin￿loutgoIngI rèsources lorthe current and pr9¢eding yoar are derwed Irom continuing operations. All amounts relate to unrestiided funds. The notes of pages 8 to 11 lonn part of these financial statements. UNITED KINGDOM.JAPAN 21ST CENTURY GROUP (A company limited by guarantee) Balance sheet as at 31 March 2024 Notes 2024 2023 Current assets Debtors 566 4,057 Cash at bank and in hand 54,068 57,217 54,634 61,274 Creditors: amounts falling due within on8 year 7,661 1,500 Net current assets 46.973 59,774 Total assets less current liabilities 46,973 59.774 unre8tri￿ed funds Income and expenditure account 46,973 59,774 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 lor the year ended 31 March 2024. The members have not requir8d the charrtable eornpany to obtain an audit ol its financial Statements lor th8 year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees aeknowl8dge their responsibilities for lal ènsuring that the charitable company keeps accounting records that compty with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and lair view of the state ol affairs ol the charf(able company as at the end ol each financial year and ol its surplus or deficit lor each financial year in accordance with the requirements ol Sections 394 and 395 and which othernise comply with the requirements ol the Companies Act 2006 relating to financial statements. so lar as applicable to the charitable company. Thes8 financial statements have been p￿Pared in accordance with the special provisions ol Part 15 of the Companies Act 2006 relating to charitable small companies. The financial st8t8ments We￿ approved by the Board of Trustees on ..... on its behalf by.. and were signed Lord Mcconnell ol Glenseorrodale Treasurer The notes ol pages 8 to 11 lomi part ol these financial statements. UNITED KINGDOM.JAPAN 21ST CENTURY GROUP {A company limited by guarantee) Notes to the financial statements For the ear ended 31 March 2024 General informatton United ￿ngdom-Japan 21& Century Group is a charitable company limited by guarantee incorporated and regEstered in England and Wales leompany numbw 2042768, charity number 2950061. The address ol the registered officè is given on page 1. The nature ol th8 Group's 0￿ratiOnS and adivities is given in Report of Ihe Board ol Directors. Accounting policies Basis of accounting The financial statements arè prepared under the historical cost convention. The linancial siaièments have been prepared in aceordsnce with the Stalernent of Recommended Practsee= Accounting and Rworting by Charities preparing their accounts in accordance with the Financiai Reportlng Standard applicable in the UK and Republic ol Ireland IFRS 1021 leftective January 20151 (Charities SORP IFFIS 1021, the Companies Act 2006 and the Charities Act 2011. The functional currency is the same as the pr¢s¢ntational cuyieney IGBPI and is rounded to the nearest pound. The Group constitutes a ptknlic benefit enlity as defined by FRS 102. Finanelal Rporting standard 102. reduced (fisclosure exemptions The charity has taken advantage Cpl the following disclosure exemption ill prepating these ftnancia statements, as pem)itted by FRS 102 The Financial Reporting Slatxlard applicable in the UK and Republic ol Ireland,: Ihe ffjquirements ol S8ction 7 Ststement of Cash Aows. Going concern The Directors are confident that th¢ charitable cornpany has adequate resetves and resources to continue operations lor the lorèsÈeable future and is well placed to manage tts business risks successfully dèspite the Current Un￿rtain ecc)nomic outlook. For this reason, they continue to adopt the going con¢em basis in preparing the finar￿SaI statsm8nts. Incomg Incomè from donations, sponsorship and bonk interest arè a￿ounted for on a recewable bas*s. Dlreet ¢haritable expendÈiure Expenditure is accounted lor on an accruals basis. Direct Charitable expènditure Includ￿ all expenditure directly relat¢d to the obj'ects ol the charity and comprises of.. Annual confèrènce expenses consist ol hotèl, transport. subsistence and other &dministratNe Costs. Other expenditure Govemance costs represent expenditure incurred in the management ofthe ¢haiity's assets. organisation administration, and compliaftce with constrtLrtional and statutory rèquirements. This expendtiurg is deemed to b8 support costs of the organisation. Financial instruments The Group only has financial atsets and finan￿al liabilities ol a knd that qualify as basic finan¢ial instruments. Basic financial instruments are initially recognised attransaction value and subsequèntly measured at their settlèment value witti the excepb.on of bank loans which are subsequently measur8d at amortlsed cost using the eNective Inter￿ method. Dtbtors DEblors ale recognisÈd initially at lair value. Subsequent to initial reeognition they are measurèd at amorhsed cost vsing èffe¢t*ve inter8St method, lèss any impaimient losses. UNITED KINGDOM-JAPAN 21ST CENTURY GROUP (A Gompany limited by guarantee) Notes to the financial statements For the ear ended 31 March 2024 Aceouffllng policies (eontinuedl Cash at ￿nk and in hand Cash and cash equwalents consist of ¢ash on hand and balances with banks, and investments ill money mart