REGISTERED COMPANY NUMBER: 3371038 (England and Wales)
REGISTERED CHARITY NUMBER: 1063952

THE JAPAN SOCIETYREPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

THE JAPAN SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2019

Page
Reference and Administrative Details

1

Report of the Trustees

2 to 9Statement of Trustees Responsibilities

10

Report of the Independent Auditors

11 to 12

Statement of Financial Activities

13

Balance Sheet

14 to 15

Notes to the Financial Statements

16 to 28

Detailed Statement of Financial Activities

29 to 30

THE JAPAN SOCIETY
REFERENCE AND ADMINISTRATIVE DETAILSFOR THE YEAR ENDED 31 DECEMBER 2019

Patron

HRH The Duke of Gloucester, KG, GCVO

President

HE The Japanese Ambassador

Vice Presidents

Takeo Aoki
Yasuyuki Fujitani
Dean Gilfillan
Isao Kano

Honorary Vice-Presidents

Shin Ebihara
Hiroaki Fujii
Haruko Fukuda OBE
Sadayuki Hayashi
Hiroshi Kitamura
Prof. Ian Nish, CBE
Yoshiji Nogami
Masaki Orita
Christopher Purvis CBEViscount Trenchard
Koji Tsuruoka
David Warren KCMG

Officers and Trustees(as at 8 April 2019)

Bill Emmott, Chairman
Martin Hatfull, Deputy Chairman
Takashi Okada, Vice Chairman
Jenny White, Vice Chairman
Nigel Wellings, Hon Solicitor
Satoru Yoshida, Hon Treasurer
Tim Harding
Sue Hudson
Janet Hunter
Tadaharu Iizuka
Takeshi Ito
Jason James
Yuko Kawai
Yuuichiro Nakajima
Neil Riley
Julie Rogers
Pernille Rudlin
Yoji Saito
Eiji Wakiwaka

Chief Executive and Company Secretary

Heidi Potter

Charity number

1063952

Company number

3371038

Principal address

13/14 Cornwall Terrace
London NW1 4 QP

Auditors

Richard Place Dobson Services Limited
1-7 Station Road
CrawleyWest Sussex RH10 1HTPage 1

THE JAPAN SOCIETYREPORT OF THE TRUSTEES
for the Year Ended 31 December 2019

The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with thefinancial statements of the charity for the year ended 31 December 2019. The Trustees have adopted the provisions ofaccounting 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 2015.)
Structure, governance and management
The Japan Society is a company limited by guarantee and as such is governed by its Memorandum and Articles of Association.
It is a registered charity.
The members of board who served during the year were:Bill Emmott – Chairman
Martin Hatfull – Deputy Chairman
Takashi Okada – Vice Chairman
Jenny White - Vice Chairman
Satoru Yoshida- Hon Treasurer
Nigel Wellings - Hon Solicitor
Tetsuro Hama
Tim Harding
Sue Hudson
Janet Hunter
Shinichi Iida
Tadaharu Iizuka
Takeshi Ito
Jason James
Yuko Kawai
Yuuichiro Nakajima
Sarah Parsons
Neil Riley
Julie Rogers
Pernille Rudlin
Yoji Saito
Eiji Wakiwaka(Resigned 19 June 2019)(Resigned 31 July 2019)(Elected 19 June 2019)(Appointed 7 October 2019)(Appointed 22 July 2019)(Resigned 19 June 2019)(Elected 19 June 2019)(Elected 19 June 2019)

Appointment of Trustees
As set out in the Articles of Association, the Board of the Japan Society consists of a Chairman, up to two Vice-Chairmen,
up to four appointed officers (Solicitor, Treasurer, Editor and Librarian), two ex officio Trustees (one additional ViceChairman, the deputy head of mission at the Japanese Embassy, and one ordinary Trustee, a member of the Japanese
Embassy) with up to 20 Trustees in total.
Vice Chairmen are elected annually by the board from their number. It is also the board which appoints the four officers:
solicitor, treasurer, editor and librarian. There is no maximum term to these four appointments, but any appointments should
be re-confirmed every three years. The board has the right but no obligation to appoint Vice-Chairmen, solicitor, treasurer,
editor and librarian.
All other members of the board (with the exception of the two ex officio Trustees from the Embassy) are elected for a termof three years. At the end of the first term, Trustees may stand for re-election for a second three-year term. No one may serveas an ordinary Trustee for more than six consecutive years.
Yoji Saito stood down from the board in April 2020 on completing his posting in the UK and returning to Japan. At theAnnual General Meeting in 2020, Jenny White will be standing down having served on the board for six years. Two trustees,
Sue Hudson and Yuuichiro Nakajima, will be standing down at the end of a three-year term, both are eligible for re-election.
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for the Year Ended 31 December 2019

The board meets at regular intervals in order to provide strategic direction and to monitor and review the activities of theSociety. During the year the board met four times, one of these being an extended meeting at which the board and executive
considered together issues facing the Society in the medium to long term. The day-to-day running of the Society is carriedout by the permanent staff under the leadership of Heidi Potter, who regularly reports to the Chairman and the board. She issupported by a team of paid staff and occasional interns. The activities of the Society are organized by the office, with support
also provided by activity group sub-committees, which meet on an ad hoc basis and whose members are volunteers. Teamsof Japan in Your Classroom volunteers are essential to the running of the Society’s popular school visit programme, whileother volunteers provide support in delivering public Japan Day events.
A nominations committee (in 2019 comprising Bill Emmott, Tetsuro Hama, Martin Hatfull, Sue Hudson, Shinichi Iida andHeidi Potter) reviews the skills that are required on the board from time to time and the succession policy, making
recommendations to the board on possible future appointments. The following skills / interests have been identified as
particularly relevant to the Japan Society and are represented on the current board: the arts; the Japan-related business
community; education; fundraising; the general Japanese community. The board in turn makes proposals to the members of
the Society in advance of the Annual General Meeting. The recommendations for election at the forthcoming Annual General
Meeting are detailed in the papers for the Annual General Meeting. The role of the board and the organization's expectationsof its board members are discussed with new Trustees prior to their election.
The audit committee (comprising in 2019, Bill Emmott, Satoru Yoshida and Heidi Potter) considers the accounts and theperformance of the auditors. The membership committee (chaired by Graham Holman, with Martin Barrow, Jon Fisher,
Michael Jefferson, Junko Kohama, Midoriko Nakajima, Heidi Potter, Julie Rogers, Niraja Singh) focuses on membershipissues and recruitment. In 2019, two new committees were established: a corporate membership working group wasestablished, chaired by Martin Hatfull, with Tim Harding, Heidi Potter, Neil Riley, Julie Rogers, Pernille Rudlin, Yoji Saito
and Niraja Singh; and an investment committee, comprising Bill Emmott, Jason James, Yuuichiro Nakajima and Satoru
Yoshida.
Pay Policy
The pay of staff is reviewed annually by a remuneration committee and normally increased in accordance with average
earnings. In view of the nature of the charity, the Trustees benchmark against pay levels in other similar organizations.
All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees' expenses andrelated party transactions are disclosed in notes 11 and 19 to the accounts.
Risk Management
Members of the board review the major risks to which the Society is exposed and the systems established to mitigate thisrisk. A Risk Management Register is maintained and formally reviewed annually by the board.
MissionThe Society's objects are:a) to promote learning and advance education in the subject of and with regard to Japan;b) to promote the study of Japan and its people in all their aspects, traditional and modern, and to make the results of suchstudy more accessible to the general public;c) to promote the study of Britain and its culture by Japanese people and to further educational exchanges between Britain
and Japan.
The vision that drives the Society’s annual activity is the enhancement of understanding of Japanese life and culture and oflinks between the UK and Japan. This informs all areas of the programme, whether direct school-focused education initiatives;
lectures and seminars for the general public and business leaders; events introducing aspects of the culture of both countries;
opportunities for people to meet in more informal settings; research facilities in our library; or the provision of small grants
in support of Japan-related projects that are organized by others.

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for the Year Ended 31 December 2019

The board regularly reviews the Society's activity to ensure that its key objectives are being met as well as to confirm theircontinuing relevance. In the aftermath of the UK's decision to leave the EU, and with increasing global tendencies for nations
to look inward, the Society's role in creating bridges and fostering professional and personal networks retains its importance.
The Trustees are mindful of the Charity Commission guidance on public benefit and consider this when planning andevaluating our activities and in ensuring that a significant proportion is accessible to the wider community beyond theSociety’s membership. Many events are open to non-members, while the schools education programme and the small grants
scheme extend throughout the UK, beyond the Society’s base in London.
The Society encourages any who have an interest in Japan and the broad UK-Japan relationship to become members andparticipate in activities. Reduced membership fees for students and those under 25 years of age are set in order to makemembership accessible to the next generation, who will take the relationship forward in the coming years. In recent years wehave noticed a tendency for people to sign up to receive newsletters, or to follow the Society on social media, without
becoming members. This offers opportunities to fulfil the Society’s mission by introducing aspects of Japanese culture to awider audience, while at the same time we must give thought to specific member benefits. Our policy on charging andparticipation by non-members is outlined below.
Achievements and performance
The main areas of activity of the Society are: events, schools education, publications. small grants, and the library. The
Society is grateful to the companies and individuals who share its belief in the importance of promoting a good mutual
understanding between the UK and Japan, and who provide essential financial support. This enables the Society to include asignificant number of low cost or free events to provide opportunities to people from a variety of backgrounds regardless ofability to pay. This is an important factor in ensuring that the Society achieves its charitable objective to promote
understanding and awareness of Japan. Where charges are levied, these are set at a level to cover direct costs to the Society,excluding overheads. A significant number of events, including the monthly lecture programme, are also open to nonmembers. The majority of the Society’s schools education services are provided free of charge; membership of the Society
is not a prerequisite to using these services. In addition, up to £20,000 was set aside in the year for disbursement through thesmall grants programme in support of events organized by others which are in furtherance of the Society's objectives andwhich provide opportunities for new audiences across the UK to gain understanding of Japan.
EventsThe Society in 2019 arranged some 70 different events spanning a wide range of subject and format, both independently andin partnership with other organizations. The programme is designed to be accessible and strikes a balance between those
activities tailored to particular interests and those designed to provide new opportunities for participation by the generalpublic to learn about Japan.
The 2019 general events programme included:
11 business-related events
13 conversation group events
4 events aimed at younger members or families
14 lectures
12 art & culture events
In anticipation of the autumn’s Rugby World Cup, the Society welcomed Eddie Jones, head coach of the England nationalteam, as its guest for the annual dinner, held in June 2019. The event took place at Twickenham Stadium, the home of English
Rugby, where members had a private view of an exhibition of the history of rugby, and enjoyed a candid analysis of thestanding of participating teams, and how they would approach the tournament.

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for the Year Ended 31 December 2019

The business events programme in 2019 continued to reflect the current political situation, with many focusing on theimplications of the UK leaving the European Union. The Chairman held a series of lunches hosted by corporate members, inwhich key figures were invited to meet senior members of the Society. These events provided opportunities for decision
makers to share ideas and information, and ensured that those involved in business and government were well informed on
topical issues relating to the Japan-UK relationship. The four guests of honour in 2019 provided insights and analysis on
issues around Brexit, and on the wider global and Japanese financial and policy outlook: Zanny Minton-Beddoes, Editor-inChief, The Economist; Lord Adonis, former Advisor and Head of the No 10 Policy Unit under PM Tony Blair; Yutaka Harada,
Policy Board Member, Bank of Japan, and Glen S Fukushima, Senior Fellow, Center for American Progress.
Other business lectures and seminars were also generously hosted by corporate members of the Society, or organized inpartnership with others. During the year, these included a seminar by Lt General (Retd) Sir Tom Beckett on the Threats andOpportunities in the Middle East, a review of the European elections, their outcome and implications, by Professor Anand
Menon, and an analysis of the Abe administration’s policy in Russia, by Dr James D Brown. The popular annual lecture by
the British Ambassador to Japan, in which Paul Madden reviewed the past year at the Embassy in Tokyo was held at Nomura
International in February.
The Society organized two joint lunches in conjunction with the Japanese Chamber of Commerce and Industry in the UK,
the first with guest speaker, Sir Simon Fraser, Former Head of the UK Foreign Office and Diplomatic Service. Later in theyear, a lunch with members of the UK-Japan 21st Century Group on the occasion of its 36th annual meeting, provided memberswith the opportunity to discuss matters of topical concern with delegates from Japan and the UK.
The conversation group continues to play an important role in the Society, providing a valuable opportunity for members
to maintain and develop their language skills. Its monthly meetings allow Japanese and non-Japanese, members and nonmembers, to get together in a friendly and informal setting, with language-based activities devised by a dedicated committee
who also organize occasional special events, such as the annual hanami picnic. A new venture in 2019 was the establishmentof a Bilingual Public Speaking Practice Group, in which the focus was on developing presentation skills in both languages,
particularly popular with those who wished to use their language skills in their work.
The Society continued to offer a broad general programme of formal and informal events to appeal to people with a wide
range of interests and ages. The monthly book club met at Daiwa Foundation Japan House, where regular and occasional
participants engaged in lively discussions on a wide range of books including literary classics, anthologies and contemporary
fiction.
Other events included gallery talks and museum visits, cultural workshops, food and drink tastings, golf tournaments, andsocial events. The Japan Society collaborated with the Japanese Embassy in organizing a second ‘Japanese garden party’ in
Hammersmith Park and a summer Tanabata Festival at Kew Gardens. Both events were popular with families and young
people, who enjoyed the relaxed atmosphere and informal setting. On 29 September, the annual Japan Matsuri, coinciding
with the Rugby World Cup in Japan, also marked the formal start of the Japan Season of Culture in the UK, which willcontinue through to the end of the Tokyo 2020 Olympic and Paralympic Games. The Japan Society has a formal role as
Corporate Director of the Japan Matsuri company, with Heidi Potter its nominated board representative.
Also under the umbrella of the Japan Matsuri company, the Society has supported the Sakura Cherry Tree committee on the
launch planting ceremony in Regent’s Park in November, with the Japanese Ambassador and HRH The Duke of Gloucester.
The lectures programme as usual covered a wide range of subject matter. The monthly lecture series formed the core of this
aspect of our public programming and the Society is grateful to the academics who generously share their research. Subjects
in 2019 included: a comparison of prehistoric Japan and Britain; a case study on the translator’s art, focusing on Mishima’s
The Frolic of the Beasts; Tenrikyo’s cultural approach in Britain and France; the politics of language in Okinawan literature,
Manga in a global society; the care system for children and young people in contemporary Japan, and the life of Colin
McVean, an engineer in Meiji Japan. The tenth annual lecture in memory of Dr Carmen Blacker took place in London andNorwich, organized jointly with the Sainsbury Institute for the Study of Japanese Arts and Cultures, with Professor Simon
Kaner speaking on Archaeology and religion in Japan. On the occasion of the enthronement of Emperor Naruhito, William
Horsley spoke on the Emperor System in Japan, and the symbolism of a new Imperial era.
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THE JAPAN SOCIETYREPORT OF THE TRUSTEES - CONTINUED
for the Year Ended 31 December 2019Japan Society Small Grants
In 2019, £20,000 was given in grants to support 33 small-scale projects and events related to Japan. These grants provide
opportunities for people throughout the UK to participate in education and exchange relating to Japan and thus contribute toraising awareness and understanding of the country and its culture in places where the Japan Society has no regular contact.
Priority is given to applications for grassroots projects and for activities involving schools and other educational
establishments.
Eighteen of the grants awarded were for projects taking place in schools or for activity involving young people. This included
a Japanese tea bowl making workshop at the Skip Garden where local children from schools in Islington and Camden wereinvited to create their own tea bowl and learn about the tradition of the tea ceremony. Tibberton Community Primary School
in Gloucestershire held their own celebration of Children’s Day and Royal Harbour Academy’s Japan and Art Day introduced
students to a wide range of Japan related activities like manga drawing, martial arts and sushi tasting. The 14th Andover
Scout Group enjoyed a Japan themed summer camp, crafting their own samurai armour out of cardboard and trying theirhand at taiko drumming in the open air, and Newport Girls' High School invited a class of Year 5 students for a ‘Taste ofHigh School’ session with the school’s own Japanese Society, who taught the students some Japanese and provided a little
insight into Japanese life, as well as allowing them to try their hand at sushi making and origami workshops.
Once again the Society supported Ohisama Ahaha Brighton’s Japanese Cultural Festival which saw local people cometogether to enjoy Japanese food, music and crafts in a warm, family friendly setting. In August, Tara Arts presented Ainu
Othello, a stage adaptation of the Shakespearean tragedy Othello, set in Hokkaido in 1860. Support from the Japan Society
allowed the project to broaden its reach by including subtitles during the performances, giving the audience a greater insight
into the story and the diversity of both modern and historical Japanese culture.
Charlotte Linton and craftspeople from the Kanai Kougei workshop of Amami Oshima gave a lecture and mud-dyeing
workshop at South London’s Horniman Museum. Following the lecture a select few participants were given the rareopportunity to try first hand dyeing a cloth using mud brought over to the UK especially from the island. In Glasgow, theexhibition ‘The Kimono: A Portrait of a Japanese Family’ presented a personal collection of kimono dating back from the
1950s to more recent pieces, including day-wear as well as traditional ceremonial wear. The exhibition shared a particularsocial history of one Japanese family, in the setting of Charles Rennie Mackintosh’s House for An Art Lover.
Library
During 2019 work continued on documenting ephemera and loose correspondence held in the library. A small number of
researchers visited, primarily to use the historical archive and copies of the Transactions and Proceedings of the Society.
Publications
Two publications were released in 2019. To commemorate the enthronement of Emperor Naruhito, the Society issued areprint of The Thames and I, a translation of the Emperor’s memoir of his time studying at Oxford. British Royal and JapaneseImperial Relations1868-2018: 150 years of association, engagement and celebration was launched at the Society’s Annual
General Meeting in June, with presentations by co-editors Peter Kornicki and Antony Best, in tribute to Sir Hugh Cortazzi,
who had initiated this work.
Schools Education
The schools education programme has been developed out of a belief in the value to young people in the UK of growing up
with an awareness and understanding of Japan and its culture. In addition to historical and business reasons for learning abouta key international partner, there are more general benefits of broadening horizons and raising aspirations. Through its
activities for schools, the Society supports teachers who may have limited experience of Japan themselves in providing theseopportunities for their students.
Throughout the year, the Society's education team provides advice and resources to schools engaged in teaching and learning
activities relating to Japan. In 2019, work with Japanese experts and teacher consultants continued in order to develop new
resources.

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THE JAPAN SOCIETYREPORT OF THE TRUSTEES - CONTINUED
for the Year Ended 31 December 2019Japan in Your Classroom visits
During 2019, over 40 visits were made to primary and secondary schools by volunteers in Greater London, Brighton, Derby,
Manchester and South Wales. For most students a Japan in Your Classroom visit is their first opportunity to meet a Japaneseperson and to hear about Japan first-hand; the visits have a lasting impact.
The Japan Society supported clusters of schools in Coventry and Leicester on the development of programmes of activities
taking place in the run up to the Tokyo 2020 Olympic and Paralympic Games, and celebrating the links between sport andculture.
School links
Support for school links has continued to be an important element of the Society's work. During 2019, Takamatsu Daiichi
Senior High School again carried out a science-based exchange with County Upper School, Bury St Edmunds, and Newstead
Wood School, London. Annual exchange visits took place from Komaki Elementary School, Nagano, to schools in
Nottingham and between staff at Reepham Primary School, Norfolk and Sakado Azuma Kindergarten in Saitama. A new linkwith Teikyo Kani Schools in Gifu involved a short term visit and longer student exchange stays at their partner school,
Woodhouse Grove.
Sixth form study day
This was held in London in November attended by over 100 students and staff, who participated in a day of lectures andworkshops on Japanese themes. Representatives from universities throughout the UK attended to provide information on
opportunities for further study.
Cherry Trees for Schools
As part of the wider Sakura Cherry Tree Project, the Japan Society managed the initiative to offer schools in the UK cherrytrees to celebrate the friendship between Japan and the UK.
Communication and marketing
The website and regular email notices continued to be important tools for communicating information about the Society andits activities. In 2019, work was undertaken in preparation for the relaunch of the Society’s website, effected in April 2020.
At the same time, monthly event calendars distributed by post on request provided a back-up for those without regular accessto the internet. Facebook and Twitter are for many the first contact with the Society, with steady growth in following on these
media.
Financial Review
In 2019 the Society showed a deficit of (£8,000) for the year, reflecting the loss of a Platinum Circle donor.
During the year individual and corporate members continued to provide invaluable support through the higher-level giving
scheme both for the general mission and for the schools education programme.
The following companies and individuals have given support at a level above that of regular membership (minimum amounts
for each level are given in brackets):

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THE JAPAN SOCIETYREPORT OF THE TRUSTEES – CONTINUED
for the Year Ended 31 December 2019

Companies
President's Circle (£25,000)
JTI
Mitsubishi Corporation International(Europe) Plc
Mitsui & Co Europe Plc
Nomura International Plc
Platinum Circle (£17,500)
Itochu Europe Plc
Chairman’s Circle (£10,000)*¶Chugai Pharma Europe Ltd
Mitsubishi UFJ Financial Group
Corporate Patron (£7,500)*¶Canon Europe Ltd*¶Central Japan Railway Company*¶Eisai Europe Ltd
Ernst & Young LLP
Marubeni Europe plc*¶Mitsubishi Electric Europe BV
Mizuho Financial Group¶NSK Europe Ltd*¶PricewaterhouseCoopers LLP
SMBC Europe Ltd
Sumitomo Corporation Europe Ltd

Corporate Donor (£2,000)
Aberdeen Standard Investments
Allen & Overy LLP
All Nippon Airways Co Ltd
BDO LLPDAKS Simpson Group plc*Greenback Alan LLP
Japan Airlines Co Ltd
Japan Post Bank Co Ltd*"K" Line (Europe) Ltd¶Linklaters LLP
Mishcon de Reya LLP
Mitsubishi Heavy Industries Europe Ltd
MSIG Holding (Europe) Ltd*NEC (Europe) Ltd
Out-Sourcing Incorporated UK
Ricoh (Europe) plc
Sompo Japan Nipponkoa Insurance Co of Europe Ltd
Tokio Marine Kiln Insurance Ltd
All or part of the donation from companies
marked with an asterisk (*) has been designatedin support of the schools education and small
grants programmes. Those with a pilcrow sign(¶) have given their support through a five year
agreement.

Corporate Benefactor (£5,000)
Clifford Chance LLP
Dai-ichi Life International Europe
Daiwa Capital Markets Europe Ltd
Deloitte LLP¶Hitachi Europe Ltd
Honda Motor Europe Ltd
HSBC Holdings International
Nikko Asset Management Europe Ltd*NYK Group Europe Ltd¶Olympus KeyMed
Toyota (GB) Plc

Individuals
Principal Benefactor (£1,000 +)Martin & Noriko Barrow
Bill Emmott
Midoriko Nakajima and Martin L O’Neill
Benefactor (£500)
Peter Job
Principal Donor (£250)
Michael Faber
James Noble
Yoshio Noguchi
Heidi Potter
David Powers
Adrian Thorpe
Donor (£100)
Mark Allsup
Clive Bradley
Stephen Codrington
Joe Earle
Robin Fox
Lydia Gomersall
Keiko Itoh
Kathleen KimuraDavid Mytton
Stephen O’Neill
Pernille Rudlin
M.R. Smith
Yuko Takano
Mark Tate
Individual Supporter (£58)
D G R Bentliff
Reg Clark
Thaisa Hopkins
Suzanne Hudson
Marilyn Malin
Janusz Mondry
Rosemary Morgan
Suzanne Perrin
Ian Walker

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for the Year Ended 31 December 2019

Reserves
In the current uncertain political and economic climate, the board has reviewed its reserves policy and has decided that itshould continue to maintain reserves sufficient for 9 – 12 months’ expenditure. Current reserves of over 80 per cent of annual
expenditure have been built up as a result of prudence at a time of general economic downturn when prospects for fundraising were uncertain. This guards against risks to the Society’s core activity should it fail to meet projected income targets
and provides some financial security to a charity which currently relies for almost all its funding on annual donations. Funds
have been designated in respect of known maintenance costs as outlined in note 17. As at 31 December 2019, the value ofunrestricted reserves less tangible fixed assets was £427,149. The cash reserves are held on deposit.
Plans for the future
In 2020, the Japan Society will continue to develop its programme of events, particularly those of interest to the youth
audience, while also maintaining and developing its business and academic programmes. Our schools education programme
remains a priority, and we are beginning to roll out a new suite of teaching resources via the newly relaunched webiste. The
Japan Society is playing an active part in the 2019-2020 Japan Season of Culture in the UK, and particularly in the Sakura
Cherry Tree project, where we are coordinating the Cherry Trees for Schools initiative.
Although in a strong financial position at the start of 2020, the Society continues to be faced with a need to raise significant
funds each year in order to maintain and develop the level of services for members and the wider community. This task will
not be easy against a background of continued economic uncertainty, but it is anticipated that the Society's record in doing
important educational work will continue to be persuasive and that support from higher-level donors will be sustained, despite
competing claims on donors’ generosity.
As at March 2020, the Society has had to cease its usual programme of events as a result of the nationwide UK ‘lockdown’in response to the Covid-19 pandemic. It is unclear when we will be able to resume normal modes of operation, and staff andtrustees are engaged in identifying opportunities to engage with members and a wider audience through new channels tobring together views from both Japan and the UK.
On behalf of the Board

Satoru Yoshida - Hon. Treasurer
Dated: .........................

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THE JAPAN SOCIETY
STATEMENT OF TRUSTEES RESPONSIBILITIES
for the Year Ended 31 December 2019

The trustees (who are also the directors of The Japan Society for the purposes of company law) are responsible for preparing
the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom AccountingStandards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view ofthe state of affairs of the charitable company and of the incoming resources and application of resources, including the income
and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are requiredto-select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitablecompany will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time thefinancial position of the charitable company and to enable them to ensure that the financial statements comply with theCompanies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:-

there is no relevant audit information of which the charitable company's auditors are unaware; andthe trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.

Page 10REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE JAPAN SOCIETY

OpinionWe have audited the financial statements of The Japan Society (the 'charitable company') for the year ended
31 December 2019 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial
statements, including a summary of significant accounting policies. The financial reporting framework that has been appliedin their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2019 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended;have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; andhave been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial
statements section of our report. We are independent of the charitable company in accordance with the ethical requirementsthat are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled
our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you
where:
the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; orthe trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant
doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a periodof at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual
report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly
stated in our report, we do not express any form of assurance conclusion 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 such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in 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 in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in
our opinion:
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements;orthe charitable company has not kept adequate accounting records; orthe financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Page 11REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE JAPAN SOCIETY

Responsibilities of trustees
As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitablecompany for the purposes of company law) are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable thepreparation 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 charitable company's ability to continue asa 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 charitable company or to cease operations, or have no realistic alternative but
to do so.
Our 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 a Report of the Independent Auditors 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 consideredmaterial 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent
Auditors.
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Section 144 of the Charities Act
2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to thecharitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company
and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Place Dobson Services Limited
Chartered Accountants
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
1-7 Station Road
CrawleyWest Sussex
RH10 1HT
Date: .............................................

Page 12

THE JAPAN SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
for the Year Ended 31 December 2019

Notes

Unrestricted
fund£

DesignatedFund£

Restrictedfund£

31.12.19
Total funds

31.12.18
Total funds££

INCOME FROM
Donations and legacies2318,746-

61,900380,646

429,966

Fundraising activities
Investment income
Other income

34
530,978656
25,309-1,585-

32,563656
25,309100,736437
26,561

375,689-

63,485439,174

557,700

15,361--

15,361

22,723

118,581
159,299
105,366--

26,98917,496
4,285

118,581
159,299
132,355
17,496
4,285

136,660
156,097
128,718
17,76665,706

Total

398,607-

48,770447,377

527,670NET
INCOME/(EXPENDITURE)(22,918)-

14,715(8,203)30,030123,245(105,245)(18,000)--

100,327(105,245)(3,285)(8,203)30,030Total funds brought forward

293,838

619,964

10,094

923,896

893,866

TOTAL FUNDS CARRIEDFORWARD394,165

514,719

6,809

915,693923,896

Total

EXPENDITURE ON
Raising funds
Charitable activities
Membership and publications
EventsSchools education
Small grants
Hammersmith Garden projectTransfers between funds

Net movement in funds

6
7

17

RECONCILIATION OF
FUNDSThe notes form part of these financial statements
Page 13

THE JAPAN SOCIETY
BALANCE SHEETAt 31 December 2019

£

£

Notes
14

6,071

481,735-

487,806

483,118

CURRENT ASSETS
Debtors
Cash at bank15

61,293358,758

32,984

6,809

61,293
398,551

89,464
390,788

420,051

32,984

6,809

459,844480,252(31,957)--(31,957)(39,474)

NET CURRENT ASSETS

388,094

32,984

6,809

427,887

440,778

TOTAL ASSETS LESSCURRENT LIABILITIES

394,165

514,719

6,809

915,693923,896

NET ASSETS

394,165

514,719

6,809

915,693923,896

394,165
514,719

293,838
619,964

Restricted funds

908,8846,809

913,802
10,094TOTAL FUNDS

915,693923,896

FUNDS
Unrestricted funds:
General fund
Designated Fund

16

Restrictedfund£

31.12.18
Total funds

FIXED ASSETS
Tangible assets

CREDITORS
Amounts falling due within one
year

DesignatedFund£

31.12.19
Total funds

Unrestricted
fund
£

17

The notes form part of these financial statements
Page 14

continued...

THE JAPAN SOCIETY
BALANCE SHEET - CONTINUED
At 31 December 2019

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended
31 December 2019.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of thesefinancial statements.
The trustees acknowledge their responsibilities for(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of theCompanies Act 2006 and(b)
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at
the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirementsof Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating tofinancial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 144 of the Charities Act 2011.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject
to the small companies regime.
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalfby:.............................................
B Emmott -Trustee.............................................
S Yoshida -Trustee

The notes form part of these financial statements
Page 15

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 20191.

ACCOUNTING POLICIESBasis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement ofRecommended Practice applicable to charities preparing their accounts in accordance with the Financial ReportingStandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial ReportingStandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies
Act 2006. The financial statements have been prepared under the historical cost convention, as modified by therevaluation of certain assets.
The registered office is located at 13/14 Cornwall Terrace, London. The accounts are prepared in sterling, which isthe functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charitable company'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 othersources. The estimates and associated assumptions are based on historical experience and other factors that areconsidered 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 arerecognised in the period in which the estimate is revised where the revision affects only that period, or in the theperiod of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts
recognised in the financial statements.
Valuation of the Library
The valuation of the books which are included within fixed assets is a material figure in the accounts is primarily
based on the historical cost value that the society paid a number of years ago. Given that many of these items are notavailable to be purchased on the open market, it has been estimated that their value has not fluctuated since the original
cost incurred by the society.
IncomeGrants - where entitlement is not conditional on the delivery of a specific performance by the charity, grants arerecognised when the charity becomes unconditionally entitled to the income.
Subscriptions are credited to the Statement of Financial Activities in respect of the year to which they relate.
Donations and similar incoming resources are included in the year in which they are receivable, which is when the
charity becomes entitled to the resource.
Investment income includes interest receivable and is included in the accounts when the charity becomes entitled tothe income
Fundraising income includes event income and income for courses and resources. This income is included in theyear in which it is receivable, which is when the charity becomes entitled to the resource.
Other incoming resources includes the sale of books and royalties. This income is included when the risks andrewards of ownership are passed from the charity to the buyer.

Page 16

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 20191.

ACCOUNTING POLICIES - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitablecompany to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and theamount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has beenclassified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed toparticular headings they have been allocated to activities on a basis consistent with the use of resources.
Expenditure includes VAT which cannot be fully recovered and is reported as part of the expenditure to which it
relates.
Costs of raising funds comprise the costs associated with attracting voluntary income and costs of fundraising.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and those costs ofan indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of thecharity and include audit fees.
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.
Allocation and apportionment of costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Support costs include back office and governance costs which support membership and publications, events, school
education and small grant activities. These costs have been allocated and apportioned to the various charitable
activates. A percentage basis has been used to apportion the support costs to the charitable activities.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value ofeach asset over its estimated useful life.
Fixtures, fittings & equipment - 20% Straight LineIT Equipment - 33% Straight LineThe library is not depreciated as a policy of revaluation has been adopted due to the fact the library contains rare books
which tend to increase in value over time.
All assets costing more than £500 are capitalised.
Taxation
The charity is exempt from corporation tax on its charitable activities.

Page 17

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 20191.

ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date oftransaction. Exchange differences are taken into account in arriving at the operating result.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis overthe period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitablecompany's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 18

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 20191.

ACCOUNTING POLICIES - continued
Basic financial instruments
The charitable company 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 balance sheet when the charitable company becomes party to thecontractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is alegally 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.
Debtors, Cash and Creditors
Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at theamount prepaid net of any trade discounts due.
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of threemonths or less from the date of acquisition or opening of the deposit or similar account.
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably
results in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimatedreliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and as an expense, unless those costs are
required to be recognised as part of the cost of stock or fixed assets.
The costs of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed toterminate the employment of an employee or to provide termination benefits.
Going concern
The trustees have considered a period of at least 12 months from the date of these accounts and are confident that The
Japan Society is a going concern.

Page 19

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 20192.

DONATIONS AND LEGACIESCorporate Membership Subscriptions
Corporate Donations
Corporate Sponsorship
Individual Membership Subscriptions
Individual Donations

3.

31.12.19
Total
funds
£
68,467265,974
15,00024,9736,232

31.12.18
Total
funds
£
75,996
304,050
14,16725,16010,593

318,746

61,900380,646

429,966

Unrestricted
funds£
30,978-

Restricted
funds
£
1,000
585

31.12.19
Total
funds
£
1,000
30,978585

31.12.18
Total
funds
£
75,52324,442771

30,978

1,585

32,563

100,736

Unrestricted
funds
£
656

Restricted
funds
£
-

31.12.19
Total
funds
£
656

31.12.18
Total
funds
£
437

Unrestricted
funds
£
3,908
13,901
7,500

Restricted
funds
£
-

31.12.19
Total
funds
£
3,908
13,9017,500

31.12.18
Total
funds
£
5,635
14,0996,827

25,309-25,30926,561INVESTMENT INCOME

Deposit account interest

5.

Restricted
funds£
61,900-FUNDRAISING ACTIVITIES

Hammersmith Garden Project
Events income
Education income and direct projects

4.

Unrestricted
funds£
68,467204,074
15,00024,9736,232

OTHER INCOME

Publication and sale of books
Office services income
Secretariat income

Page 20

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 2019

6.

RAISING FUNDS
Raising donations and legacies

Fund raising activities
Marketing, website & database

Unrestricted
funds
£
39
7,822

Restricted
funds
£
-

31.12.19
Total
funds
£
39
7,822

31.12.18
Total
funds
£
18,374
4,349

7,861

-

7,861

22,723

Unrestricted
funds
£
7,500

Restricted
funds
£
-

31.12.19
Total
funds
£
7,500

31.12.18
Total
funds
£
-

15,361-

15,361

22,723

Other trading activities

Bad debts

Aggregate amounts

7.

CHARITABLE ACTIVITIES COSTS

Direct costs

Membership and publications
EventsSchools education
Hammersmith Garden project
Small grants£
76,203
117,452
91,3704,285
289,3108.

Grant
funding of Support costs
activities(See note 8)(See note 9)££
42,37841,84740,985
17,496
17,496

Totals£118,581
159,299
132,355
4,285
17,496125,210432,016

31.12.19£
17,49631.12.18£
17,766

GRANTS PAYABLE

Small grants

Page 21

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 20198.

GRANTS PAYABLE - continued
Material grants paid to institutions during the year:

AME
Blueprint: Film Foundation
CCC Howes Primary School LMS
Chisato Minamimura
Fleckney C of E Primary School
House for an Art Lover
Japan Society North WestJapanese Avant-garde and Experimental Film Festival
Judith Adams
Keys of Change CIO
Modern Culture/M J Colthorpe
NWGW Fundraising accountObon on the Foyle
RBWM - The Queen Anne Royal Free CE First School
The Pagoda Noh Theatre Project
West Yorkshire Print Workshop
Whiteley Academy
Other small grants paid to 22 (10) institutions

9.

31.12.19£

31.12.18
£

1,000
1,000
1,000
1,000
1,000
1,000
1,000
10,496

1,000
1,500
2,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
5,266

17,496

17,776SUPPORT COSTS

Membership and publications
EventsSchools education

Management£
29,39828,53428,534

Other
£
9,873
10,297
9,435

Governance
costs
£
3,107
3,016
3,016

Totals£42,37841,84740,98586,466

29,6059,139

125,210

Support costs, included in the above, are as follows:

Page 22

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 20199.

SUPPORT COSTS - continued

Wages
Social security
Pensions
Establishment expenses
Depreciation of tangible andheritage assets
Office expenses
General expenses
Consultancy
Auditors' remuneration
Bank charges

10.

31.12.19

31.12.18

Schools
education
£
7,712
498
379
19,529Total
activities£
23,3691,509
1,148
59,179Total
activities£
21,934503
288
58,171

416
7,272
561
2,464
2,393
623

416
7,272
561
1,602
2,393
623

1,261
22,036
1,700
5,869
7,251
1,888

5,931
23,095903
34,1447,150
2,001

41,84740,985125,210

154,120

31.12.19
£
7,251
1,261
22,03631.12.18
£
7,150
5,931
23,095

Membership
andpublications
£
7,945
513
390
20,121

Events
£
7,712
498
379
19,529

429
7,492
578
1,803
2,465
642
42,378NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets
Other operating leases

11.

TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2019 nor for the year ended
31 December 2018.
Trustees' expenses
During the year no members of the board were reimbursed for expenses:
The charity carried indemnity insurance for its trustees, for which a premium of £2,722 (2018: £2,722) was paid.

Page 23

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 2019

12.

STAFF COSTS

Wages and salaries
Social security costs
Other pension costs

31.12.19£
199,703
15,436
9,361

31.12.18£
180,490
13,413
7,686

224,500

201,589

31.12.19
8

31.12.18
7

The average monthly number of employees during the year was as follows:
Employees
No employees received emoluments in excess of £60,000.
The trustees of the Japan Society determined there to be 5 members of key management personnel.
The total employee remuneration of key management personnel of the charity was £131,311 (2018: £124,165)
13.

2018 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIESUnrestricted
fund£

DesignatedFund£

Restricted
fund£

Total funds

INCOME FROM
Donations and legacies

362,466-

67,500429,966

Fundraising activities
Investment income
Other income

24,442437
26,561-

76,294-

100,736437
26,561

Total

413,906-

143,794557,700£

EXPENDITURE ON
Raising funds
Charitable activities
Membership and publications
EventsSchools education
Small grants
Hammersmith Garden project

22,723--22,723

136,660
156,097
78,213277-

50,505
17,76665,429136,660
156,097
128,718
17,76665,706

Total

393,970-

133,700

527,670

NET INCOME/(EXPENDITURE)

19,936-

10,09430,030Page 24

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 2019

13.

14.

2018 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
DesignatedRestricted Total funds
fund
Fund
fund
£
£
£
£
RECONCILIATION OF
FUNDS
Total funds brought forward

273,902619,964-

893,866

TOTAL FUNDS CARRIED FORWARD

293,838

619,964

10,094

923,896

Library£

Fixtures andfittings£

Totals£COST
At 1 January 2019
Additions481,735-

45,0805,949

526,815
5,949

At 31 December 2019

481,735

51,029532,764

DEPRECIATION
At 1 January 2019
Charge for year-

43,697
1,261

43,6971,261

At 31 December 2019-

44,95844,958NET BOOK VALUEAt 31 December 2019

481,735

6,071

487,806

At 31 December 2018

481,735

1,383

483,118TANGIBLE FIXED ASSETS

The last professional valuation of the library was undertaken by Maggs and Sons in 2005. After due considerationand consultation with relevant professionals, a collective decision was taken by the board of trustees not to alter thevalue of the library. Under Accounting and Reporting by Charities: Statement of Recommended Practice applicable
to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities(effective 1 January 2015) paragraph 10.34 the charity trustees are required to ensure that valuations are carried out
by an experience valuer, although the Charities SORP permits this to be carried out by a trustee or member of staff
who has the relevant experience and knowledge.

Page 25

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 201915.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income

16.

31.12.18£
66,047
23,417

61,29389,46431.12.19
£
3,875
2,860
25,22231.12.18
£
1,369
5,964
134
32,007

31,95739,474

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
VAT
Other creditors
Accruals and deferred income

17.

31.12.19£
38,02323,270MOVEMENT IN FUNDS
Restricted funds:
The funds of the Society include restricted funds. The following are the unexpended balances of such funds:

Education Fund
Hammersmith Garden Fund

Balance at
01.01.19£

Incoming
Resources£

Resources
Expended£

Balance at
31.12.19£

10,09462,485
1,000(62,485)(4,285)

6,809

10,09462,485(66,770)6,809

Balance at
01.01.18£

Incoming
resources£

Resources
expended£

Balance at
31.12.18£-

68,271
75,523(68,271)(65,429)

10,094-

143,794(133,700)

10,094

Education Fund
Hammersmith Garden Fund

Certain funds are restricted to expenditure relating to schools education and small grants.

Page 26

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 201917.

MOVEMENT IN FUNDS - continued
The Hammersmith Garden fund represents contributions made specifically for the installation of a new gate andavenue of stone lanterns at the Japanese garden in Hammersmith Park and for activities linked to this. Ongoing
activities take the form of events in the Park to highlight the Japanese garden and engage with the local community.
Designated funds:
The income funds of the charity include the following designated funds which have been set aside out of unrestrictedfunds by the trustees for specific purposes:

LibraryJapan office fund
Maintenance fund
Digitisation of books fund

LibraryJapan office fund
Maintenance fund
Digitisation of books fund

Balance at
01.01.2019£

Incoming
resources£

Resources
expended£Transfers£

Balance at
31.12.2019£

481,735
105,245
13,00019,984--(105,245)-

481,735
13,00019,984

619,964--(105,245)

514,719

Balance at
01.01.2018£

Incoming
resources£

Resources
expended£Transfers£

Balance at
31.12.2018£

481,735
105,245
13,00019,984---

481,735
105,245
13,00019,984

614,964---

619,964

The library fund represents the funds of the charity tied up in the library.
The Japan office fund represents the funds the charity has set aside to cover the cost of a Japan based office andemployee over a three to four year period. This initiative was discontinued and funds allocated for the purpose havebeen returned to the general fund.
The maintenance fund is an amount set aside to cover the Japan Society's share (20%) of the building maintenancework at 13/14 Cornwall Terrace. This work is stipulated by Crown Estates and carried out on a five year cycle.
The digitalisation of books fund represent the funds set aside for the long term project of scanning in the books so thatthey can be accessed digitally.

Page 27

THE JAPAN SOCIETYNOTES TO THE FINANCIAL STATEMENTS - CONTINUED
for the Year Ended 31 December 201918.

RELATED PARTY DISCLOSURESThe Japan Society is a corporate director of Japan Matsuri. The Japan Society gave a contribution of £2,500 (2018:£2,579) during the year.
Julie Rogers, a Trustee, is also a director of the Mitsubishi Corporation International (Europe) Plc which is a memberof the President's Circle, making an annual contribution to the Japan Society of £25,000 (membership subscription
and donation).
Yoji Saito, a Trustee, is also a director of the Mitsubishi Electric Europe B.V, which is a Corporate Patron and madean annual contribution to the Japan Society of £7,500 (membership subscription and donation).
Jason James, a Trustee, is Director General of the Daiwa Anglo-Japanese Foundation, the Japan Society's landlord.
Rent paid by the Society to the Foundation was £32,340. In addition, the Society paid £21,280 as its share of utility
bills and building maintenance costs, as well as meeting room hire.

19.

POST BALANCE SHEET EVENTSAs a direct consequence of the Coronavirus (COVID 19) pandemic, and in accordance with UK government
guidelines The Japan Society ceased all in person events on 13 March 2020 for an indeterminate period. Subsequently,
it has continued to offer a varied and regular programme of online events, as well as adapting its education resources
to increase accessibility for home learners.
At the date of approval of the accounts it has not been to quantify or ascertain with any certainty the financial impact
of COVID-19. No adjustments have been made to any figures in the accounts as a result of the pandemic.

Page 28

THE JAPAN SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2019

Unrestricted
funds£

Restrictedfunds£

31.12.19
Total
funds
£

31.12.18
Total
funds
£

68,467204,074
15,00024,973
6,232

61,900-68,467265,974
15,00024,9736,232

75,996
304,050
14,16725,16010,593

318,746

61,900380,646

429,966

30,978
-

1,000
585

1,000
30,978585

75,52324,442771

30,978

1,585

32,563

100,736

656

-

656

437

3,908
13,901
7,500

-

3,908
13,901
7,500

5,635
14,0996,827

25,309-25,30926,561

375,689

63,485439,174

557,700

39
7,822

-

39
7,822

18,374
4,349

7,861

-

7,861

22,723

INCOME
Donations and legacies
Corporate Membership Subscriptions
Corporate Donations
Corporate Sponsorship
Individual Membership Subscriptions
Individual Donations

Fundraising activities
Hammersmith Garden Project
Events income
Education income and direct projects

Investment income
Deposit account interest
Other income
Publication and sale of books
Office services income
Secretariat income

Total incoming resources

EXPENDITURE
Raising donations and legacies
Fund raising activities
Marketing, website & database

This page does not form part of the statutory financial statements
Page 29

THE JAPAN SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2019

Unrestricted
funds£

Restrictedfunds£

31.12.19
Total
funds
£

31.12.18
Total
funds
£

Other trading activities
Bad debts

7,500

-

7,500

-

Charitable activities
Wages
Social security
Pensions
Events and Publications
Education
Projects
Grants to institutions

172,955
13,927
8,213
62,941-

3,379
23,6104,285
17,496

176,334
13,927
8,213
62,941
23,6104,285
17,496

158,556
12,9107,398
69,39019,10165,706
17,766

258,036

48,770306,806

350,827

23,3691,509
1,148
59,1791,261-

23,3691,509
1,148
59,1791,261

21,934503
288
58,171
5,931

86,466-86,46686,82722,036
1,700
2,160
2,912
565
249
(17)

-

22,036
1,700
2,160
2,912
565
249
(17)

23,095903
30,595
2,353
552
701
(57)

29,605-29,60558,142

7,251
1,888

-

7,251
1,888

7,150
2,001

9,139

-

9,139

9,151

Total resources expended

398,607

48,770447,377

527,670

Net (expenditure)/income(22,918)

14,715(8,203)30,030Support costs
Management
Wages
Social security
Pensions
Establishment expenses
Fixtures and fittings

Other
Office expenses
General expenses
Consultancy costs
Irrecoverable VAT
Library Maintenance Expenses
Entertainment
Exchange rate loss/gain

Governance costs
Auditors' remuneration
Bank charges

This page does not form part of the statutory financial statements
Page 30