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

The Japan Society

Report of the Trustees andAudited Financial Statements for the Year Ended 31 December 2015

The Japan Society
Contents of the Financial Statements
for the Year Ended 31 December 2015

Page
Reference and Administrative Details

1

Report of the Trustees

2Statement of Trustees Responsibilities

10

Report of the Independent Auditor

11

Statement of Financial Activities

13

Balance Sheet

14

Notes to the Financial Statements

16

The Japan Society
Reference and Administrative Details
for the Year Ended 31 December 2015
PatronPresident
Vice Presidents

Honorary Vice-Presidents

Officers and Trustees(as at 26 April 2016)

HRH The Duke of Gloucester, KG, GCVO
HE The Japanese Ambassador
Haruki Hayashi
Hironobu Ishikawa
Minoru Shinohara
Daniel Torras
Sir Hugh Cortazzi, GCMG
Shin Ebihara
Hiroaki Fujii
Haruko Fukuda OBE
Sadayuki Hayashi
Hiroshi Kitamura
Prof. Ian Nish, CBE
Yoshiji Nogami
Masaki Orita
Christopher Purvis CBEViscount Trenchard
Ben Thorne, CMG, MBE
Sir David Warren KCMG, Chairman
Graham Holman, Vice Chairman
Motohiko Kato, Vice Chairman
Jenny White, Vice Chairman
Alison Scott, Hon Editor
Nigel Wellings, Hon Solicitor
Satoru Yoshida, Hon Treasurer
Hideki Asari
Tom Burn
Anna Dingley
Lydia Gomersall
Tetsuro Hama
Janet Hunter
Masahiro Imai
Jason James
Shinichiro Masunaga
Mami Mizutori
Akihiro Tsuchiya
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 1HT

1

The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
The members of the board, who are directors for the purposes of company law and trustees for the purposes of charity law,present their report and accounts for the year ended 31 December 2015.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply
with the charity’s constitution, applicable law and the requirements of the Statement of Recommended Practice, “Accounting
and Reporting by Charities” issued in March 2005.
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:
Sir David Warren, KCMG - Chairman
David Cairns - Vice Chairman(Resigned 24 June 2015)
Graham Holman - Vice Chairman
Motohiko Kato - Vice Chairman(Appointed 23 April 2015)
Jenny White - Vice Chairman
Satoru Yoshida- Hon Treasurer
Nigel Wellings - Hon Solicitor
Alison Scott - Hon Editor
Hideki Asari(Elected 24 June 2015)
Tom Burn(Resigned 24 June 2015)
Martin Day
Anna Dingley
Lydia Gomersall
Tetsuro Hama
(Elected 24 June 2015)
Janet Hunter
Masahiro Imai
(Elected 24 June 2015)
Jason James
Shinichiro Masunaga
Stephen McEnally(Resigned 24 June 2015)(Elected 24 June 2015)
Mami Mizutori(Resigned 24 June 2015)
Michael Spencer
Akihiro Tsuchiya
Eiji Wakiwaka(Elected 24 June 2015)
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) and up to 14 ordinary trustees.
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 term of
three years. At the end of the first term, trustees may stand for re-election for a second three year term. No one may serve as
an ordinary trustee for more than six consecutive years.
At the annual general meeting in June 2016, two trustees, Masahiro Imai and Shinichiro Masunaga are resigning following
their departures from the UK. Two other trustees: Lydia Gomersall and Tetsuro Hama will be standing down at the end of athree year term; both are eligible for reelection.
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 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 carried

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The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
out by the permanent staff under the leadership of Heidi Potter, who regularly reports to the chairman and the board. She issupported by Hiroko Kimura, head of education, and a team of paid staff and occasional interns. The activities of the Society
are organised by the office, with support also provided by activity group sub-committees (particularly awards, business,conversation, publications and small grants), which meet on an ad hoc basis and whose members are volunteers. Teams ofJapan in Your Classroom volunteers are essential to the running of the Society’s popular school visit programme.
A nominations committee (comprising David Warren, Tom Burn, Motohiko Kato and Heidi 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 futureappointments. 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 chairman’s letter at
the start of this report as well as in the papers for the annual general meeting. The role of the board and the organisation's
expectations of its board members are discussed with new trustees prior to their election and on election they receive an
induction pack which includes copies of the Society’s Memorandum and Articles of Association , accounts and board papers.
The audit committee (comprising Heidi Potter, David Warren and Satoru Yoshida) considers the accounts and theperformance of the auditors; the risk committee (comprising Stephen McEnally, Heidi Potter and Satoru Yoshida) considers
all aspects of risk; both committees make recommendations to the board. A membership committee (comprising Graham
Holman, Martin Barrow, Anna Dingley, Jon Fisher, Robert Guy, Yutaka Harada, Peter Lawley, Kazuo Okamoto, SteveOwen, Heidi Potter, Sandy Sano) focuses on membership issues and recruitment.
Pay Policy
The pay of staff is reviewed annually 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 organisations.
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 two countries. 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 bothcountries, opportunities for people to meet in more informal settings, the provision of research facilities through our library,or the programme of small grants made in support of Japan-related projects that are organised by others.
In developing objectives for the year and planning and evaluating activities, the trustees have considered the Charity
Commission's guidance on public benefit. The board regularly reviews the Society's activity to ensure that its key objectives
are being met as well as to confirm their continuing relevance.
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. Our policy on
charging and participation by non-members is outlined below.
Achievements and performance
The main areas of activity of the Society are: awards, events, the library, publications, schools education and small grants.
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 a3

The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
significant number of low cost or free events to make the programme accessible both to members and non-members. Where
charges are levied, these are set at a level to cover direct costs to the Society, excluding overheads. A significant proportionof events, including the monthly lecture programme, is also open to non-members. 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 £30,000 has been set aside each year for disbursement through the small grants programme in support ofevents organised by others which are in furtherance of the Society's objectives and which will provide opportunities to new
audiences across the UK.
EventsThe Society in 2015 arranged over 90 different events spanning a wide range of subject and format, both independently andin partnership with other organisations. In keeping with its objective to promote the study and understanding of Japan, theSociety's programme strikes a balance between those activities tailored to particular interests and those designed to provide
new opportunities for participation by the general public. The board is convinced of the need to ensure that the programme is
widely accessible, and events during the year included those open to both members and non-members, as well as asignificant number which were free or low cost.
The 2015 general events programme included:
4 chairman's lunches / dinners
14 Business related events
13 Conversation group events
21 Events aimed at younger members or families
13 Lectures
10 Art & culture events
The chairman held a series of small lunches in which key figures based in both the UK and Japan were invited to meet senior
members of the Society. These provided opportunities for decision makers to share ideas and information, and ensured thatthose involved in business and government were well informed on topical issues relating to the Japan-UK relationship in a
global context. Subjects in 2015 included finance and economics (Peter Tasker, Japan-based financial expert, andcommentator, Sir Jon Cunliffe, Deputy Governor, Bank of England), and security and defence (Sir Kim Darroch, National
Security Advisor, and the Rt Hon Michael Fallon MP, Secretary of State for Defence).
Larger business lectures and seminars were again generously hosted by corporate members of the Society. These included aseminar on Cybersecurity at BT; an assessment of global threats by Richard Fenning, CEO of Control Risks; a view on
Energy and Climate Change pre COP21 by Takashi Hattori, Head of the Environment & Climate Change Unit, International
Energy Agency; a discussion on the UK's relationship with the European Union, with author and journalist, Bill Emmott, andMami Mizutori; an overview of the world grains market by Etsuo Kitahara, Executive Director of the International Grains
Council; corporate governance by Michael Woodford, former President & CEO of Olympus; and a vision for Tokyo's future
development by Yoichi Masuzoe, Governor of Tokyo.
The Society continued to arrange joint lunches in conjunction with the Japanese Chamber of Commerce and Industry in theUK, which provided opportunities for Japanese and non Japanese to meet and to hear from guest speakers, who were during
the year: Philip Stephens, Associate Editor, Financial Times and Robin Niblett, Director, Chatham House. A special lunch
was organized with members of the UK-Japan 21st Century Group on the occasion of its 32nd Annual Meeting.
The Japan Society values its partnerships with other organisations with similar aims and interests in developing a programme
which is of interest and benefit to the membership. In the current economic climate, the sharing of up to date information andbest practice is particularly important and the Society cooperated with UKTI, JETRO, Chatham House, and the Japan
Security Dealers' Association to provide opportunities for members to build networks and hear from experts.
The conversation group continues to play an important role in the Society, providing a valuable opportunity for members tomaintain and develop their language skills. It allows Japanese and non-Japanese, members and non-members, to talk in afriendly and informal setting. In addition to the regular monthly meetings, the conversation group organises occasional
special events, such as the annual hanami picnic, as well as participating jointly in Society events, such as the annual dinner.
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 regularly at Daiwa Foundation Japan House, where regular andoccasional participants engaged in lively discussions on a wide range of books including literary classics, anthologies andcontemporary fiction.

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The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
Other events included gallery talks and museum visits, cultural workshops, music and theatre, food and drink tastings, golf
tournaments, and social events. On the 150th anniversary of the arrival of the Satsuma students in the UK, we welcomed
their 21st century counterparts who were recreating the historic journey. A pub quiz provided an informal opportunity tomeet and get to know each other, while members also offered the students an opportunity to experience family life with ashort homestay.
The Society partnered with Kew Gardens and the Embassy of Japan in organising a tanabata festival celebration,
appropriately held in Kew's bamboo garden over two days in August.
The seventh Japan Matsuri, which was held in Trafalgar Square and took place on 19 September, coincided with Japan's
match against South Africa in the Rugby World Cup. Despite a lull in the afternoon, when some people left in search of atelevision screen, Japan Matsuri was again well attended, with a number of performers from Kagoshima participating as partof the Satsuma 150 celebrations. The Japan Society has a formal role as corporate director of the Japan Matsuri company,
with Heidi Potter its nominated representative on the board. The Society also played an active part in planning andprogramming the 2015 event. Staging Matsuri in Trafalgar Square requires the engagement of a specialist production teamwhich increases the cost of the event, but has reduced the administrative burden on the four partner organisations: theJapanese Chamber of Commerce and Industry in the UK, the Japan Association, the Nippon Club and the Japan Society.
Thanks to support from across the Japanese community in London, the event once again broke even.
The lectures programme as usual covered a wide range of subject matter. The monthly academic lecture, held every third
Monday, formed the core of this aspect of our public programming. These lectures are held at Swedenborg Hall, a
convenient, central London venue, easily accessible to students; this is an audience we are particularly keen to encourage andbuild. Subjects in 2015 included: the story of the Satsuma students (as part of Satsuma 150); demographics and employment;
Bakumatsu Kabuki heroes; Esperanto in Japan; the political role of former Prime Ministers; and the influence of the Second
World War on novelists. The sixth annual lecture in memory of Dr Carmen Blacker took place in London and Norwich,organised jointly with the Sainsbury Institute for the Study of Japanese Arts and Cultures, with Dr John Breen speaking on
the history and role of the Ise Shrines in postwar Japan. A special debate was organized with the International Friendship andReconciliation Trust to commemorate the 70th anniversary of the end of the Asia Pacific War, and brought together experts
Barak Kushner, Rana Mitter and Francis Pike for a wide-ranging discussion under the chairmanship of Alessio Patalano.
Japan Society Small Grants
An annual sum of up to £30,000 is set aside for grants in support of 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 to raising 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 othereducational establishments. In 2015, 42 grants were made averaging £575 with funding totalling £24,150 being awarded insupport of 42 grassroots projects in the UK. In line with the objectives of the grants scheme, most of the activities supported
had an educational element, fostered exchange between the UK and Japan, or provided opportunities to bring Japaneseculture to a wide group of people.
12 primary schools and 10 secondary schools and youth groups were involved in extended projects, ranging from whole
school Japan days to interdisciplinary learning days and enrichment weeks. Japan Society support for these events allows
schools to bring in experts to run specialist workshops to complement and enrich curriculum-based studies. A visit by
students from a Japanese partner school gave one secondary school the opportunity to run language learning activities withneighbouring primary schools, while a group of teachers spent time preparing together in advance of a series of global
education workshops with Japanese counterparts in Fukushima, Tokyo and Kyoto.
Support for 2015’s Satsuma 150 celebrations allowed Izaku Taiko Odori and Satsuma Kenshi Hayato to visit primaryschools in London and Oxford for special performances and workshops. A project being developed for 2016 will engage
primary school children in a series of visual and performance skill workshops inspired by Japanese prints in the collection ofBlackburn Museum and Art Gallery.
Other arts related projects include community and adult education workshops with visiting Bizen potter, Kazuya Ishida,including a workshop, demonstration and lecture about the Bizen tradition and the potter’s experience. Master woodblockcarver Motoharu Asaka spent 10 days in the UK, conducting workshops and giving demonstrations and lectures at eightlocations including university art departments, printmaking studios and an art and design sixth form college.
Distinct Impressions: Prism 5 brought together 32 emerging printmakers for a shared exhibition including 14 from Japan and
10 from the UK. This was the fifth in a series of events which provide a forum for artistic exchange and education.
Muscicity’s Reflections of Sumida along London’s Southbank presented a new way to experience Japan, allowing people tolisten to recordings of Basho poems in English and Japanese set against a soundscape of Tokyo’s Sumida river.
Koto workshops and lectures by musicians from Tokyo University of the Arts, provided inspiration for students of5

The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
performance and composition at the Royal Academy of Music, while Stirling University’s Japan Week included language
classes, lectures, receptions as well as cultural events and performances. Japan Society small grants also supported Japan
festivals in Cambridge, Edinburgh, Glasgow and Kent.
Japan Society Awards
Japan Society Awards were not presented in 2015, pending a review of the scheme.
Library
During 2015 work continued on cataloguing and 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
At the end of 2014, the board re-established a publications committee (comprising Sir Hugh Cortazzi, Sean Curtin, Janet
Hunter, Stephen McEnally, Heidi Potter, Alison Scott (Chair), Jenny White) with a brief to review the Society's work inpublishing and identify material for future consideration. A general invitation for proposals was issued in early 2015 andfifteen received, which were then reviewed by the committee. It was decided to proceed with publication of an illustrated
book for children and to follow up several other proposals, for which additional information was needed, with a view topossible publication. Two publications were already in progress: Japan and Britain, Biographical Portraits Vol X and ahistory of Japanese Studies in the UK, and were due to be issued in 2016.
Work began on creating an e-library to be launched in 2016, and which would over time give greater access to selectedpublications and the Society's archive.
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
about a 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. As well as working in partnership with local authorities, it offers materials directly to schools
throughout the country, including loan resources supplied to approximately 70 schools each year.
Other targeted activities include:
Sixth form study day
150 sixth form students of Japanese and their teachers attended a one-day conference on 5 November which aimed to provide
insights into life in Japan, less familiar aspects of Japanese culture. The event included a keynote speech by Susumu
Takiyama, Managing Director and Editor-in-Chief of Nikkei Europe. A talk by a former British student, who had spent timeat university in Japan, provided information on opportunities to continue the study of Japan and Japanese after leaving
school. Representatives of British and Japanese universities attended and gave participants advice and information on future
courses of study.
Japan in Your Classroom visits
During the year visits were made by volunteers in Greater London, Brighton, Derby, Manchester and South Wales to over 50
schools. For most students a Japan in Your Classroom visit is their first opportunity to meet a Japanese person and to hear
about Japan first-hand; the visits have a lasting impact. A special visit was arranged for Izaku Taiko Odori performers from
Kagoshima, who visited schools in London and Oxford to give a performance and run workshops as part of the Satsuma 150
celebrations.
Volunteers also ran a range of workshops and activities as part of South West London Scouts summer camp, coinciding with
the Scout Jamboree being held in Yamaguchi Prefecture, and giving a taste of Japan to Scouts within the UK.
School links
Support for school links has continued to be an important element of the Society's work. During 2015, new partnerships were
established and existing links strengthened through exchange trips. Kobe University Fuzoku Junior High School again
visited the UK, this time taking students to participate in exchanges with three partner schools, Cirencester Deer Park School,
Alleyn's School in London and Thomas Hardye School in Dorchester. Cropwell Primary School in Nottingham had anothersuccessful visit from their partner, Komaki Elementary School in Nagano, this year with the support of Heymann Primary

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The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
School who are starting to develop their own exchange with Wakatsuki Elementary School. In the virtual world, some 60
school partnerships are now using Japan UK LIVE! and related services to develop their links. Takamatsu Daiichi SeniorHigh School again visited County Upper School in Bury St Edmunds, for an exchange focused on science activities.
From June 2015, Saki Kuroda has been working in Japan to provide additional support to schools engaged in linking
activities. Over the next five years, we have the opportunity to build on increased interest in international activities leading
up to the 2019 Rugby World Cup and 2020 Olympic and Paralympic Games, in order to recruit additional schools toparticipate in school linking activities. Having a staff member in Japan, to support this activity by running workshops andvisiting schools will facilitate this process. In the long term, we intend to rent desk space in a small office.
Teacher in-service training
The Japan Conference for Schools organised with the Japan Foundation at the Embassy of Japan involved over 50 teachers
taking part in a series of practical workshops alongside discussion groups on topics including school linking; introducing
Japanese to the curriculum; sharing teaching resources; and teaching Japanese to dyslexic students. In this year's key note
speech Lorraine Cooper, Deputy Head of Maryland Primary School in Newham, reported on her trip to Osaka in 2014 toresearch methods of teaching critical thinking skills.
Communication and marketing
The website and regular email notices continued to be important and efficient tools for communicating information about theSociety and its activities. At the same time, monthly event calendars distributed by post on request provided a back-up for
those without regular access to 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 2015 the Society showed a deficit of (£15,859), which reflected the decision to draw down some reserves in order to
employ someone in Japan, to further develop the education programme with schools in that country.
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.

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The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
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)

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
Sumitomo Corporation Europe Ltd
Chairman’s Circle (£10,000)*¶Chugai Pharma Europe Ltd
Mitsubishi UFJ Financial Group
Corporate Patron (£7,500)*¶Astellas Pharma Inc*¶Canon Europe Ltd*¶Central Japan Railway Company*¶Eisai Europe Ltd
Ernst & Young LLP
Marubeni Europe plc
Mizuho Financial GroupNikko Asset Management Europe Ltd¶NSK Europe Ltd*NYK Group Europe Ltd*¶PricewaterhouseCoopers LLP
SMBC Europe Ltd
Corporate Benefactor (£5,000)
Clifford Chance LLP
Dai-ichi Life International Europe*¶Daiichi Sankyo Co Ltd
Daiwa Capital Markets Europe Ltd¶Hitachi Europe Ltd
Honda Motor Europe
HSBC Holdings International
The Japan Centre Group Ltd
KPMG LLP*¶Mitsubishi Electric Europe BV¶Olympus KeyMed
Sompo Japan Nipponkoa Insurance Co
of Europe Ltd
Toyota (GB) Plc
UBS Investment Bank

Individuals
Corporate Donor (£2,000)
Aberdeen Asset Management PLC
Allen & Overy LLP
All Nippon Airways Co Ltd
BDO LLP
BG Group plc
DAKS Simpson Group plc*Greenback Alan LLP
Holman Fenwick Willan LLP
Japan Airlines Co Ltd
Japan England Insurance Brokers Ltd
Japan Post Bank Co Ltd
JRPass Ltd*"K" Line (Europe) Ltd
King & Wood Mallesons LLP¶Linklaters LLP
Mitsubishi Heavy Industries Europe
Ltd
Mitsui Sumitomo Insurance Group*NEC (Europe) Ltd
Ricoh (Europe) plc
Tokio Marine Kiln Insurance Ltd
Toshiba of Europe Ltd¶Winton Capital Management
All or part of the donation fromcompanies marked with anasterisk (*) has been designated insupport of the schools educationand small grants programmes.
Those with a pilcrow sign (¶) havegiven their support through a five
year agreement.

Principal Benefactor (£1,000)
Martin & Noriko Barrow
Bill Emmott
Martin L. O’Neil and Miko Nakajima
Akihiro & Noriko Tsuchiya
Benefactor (£500)
Christopher & Phillida Purvis
Principal Donor (£250)
Paul & Carolyn Dimond
Penelope Elias
Michael Faber
Robert Guy
Ruth Martin
James Noble
Heidi Potter
Donor (£100)
Mark Allsup
Clive & Vivien Bradley
Stephen Codrington
Angelo Corbetta
Robin Fox
Thomas French
Lydia Gomersall
Stephen Grayston
Keiko Itoh
Junko Kawai
Kathleen Kimura
Ella Marquis
David Mytton
Noriko Ogawa
Pernille Rudlin
Andrew Smithers
Yuri Ueno
William Waggott
Individual Supporter (£58)
D G R Bentliff
Reg Clark
Gerard Dempsey
Suzanne Hudson
Yasko Kurahachi
Marilyn Malin
Rosemary Morgan

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The Japan Society
Report of the Trustees
For the Year Ended 31 December 2015
Reserves
It is the policy of the board to maintain reserves of at least 50 per cent of total annual expenditure. Current reserves of approximately
100 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 havebeen designated in respect of known maintenance costs and for the employment of a member of staff in Japan as outlined in note 14.
As noted above, this has entailed drawing down some £15,000 of reserves during the year. As at 31 December 2015 fund balances
excluding the value of the library and other designated funds amounted to £275,136. The cash reserves are held on deposit.
Plans for the future
In 2016, 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. Providing support in Japan for our schools education
programme remains a priority. The need to educate the next generation to look beyond national boundaries and equip them for workin a global economy, means that support for school partnerships and work to develop resources for teachers remain extremely
relevant.
The Publications Committee has issued a second call for proposals to academics, publishing houses and others in order to identify
further potential partnership projects which will not only further academic understanding of Japan, but build popular awareness. The
e-library portal will provide an opportunity to make accessible material from the Society's archives.
The trustees have been kept informed of developments regarding the establishment of “Japan House” in London under the auspices of
the Japanese Government, which is due to open in the spring of 2017. The Society looks forward to working closely with this neworganisation as appropriate, in order to provide increased opportunities for the public to engage with Japan. The Japan Society
Chairman sits on the steering committee of Japan House.
Although in a strong financial position at the start of 2016, 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.

On behalf of the Board
Satoru Yoshida - Hon. Treasurer
Dated: .........................

9

The Japan Society
Statement of Trustees Responsibilities
for the Year Ended 31 December 2015
The trustees (who are also the directors of The Japan Society for the purposes of company law) are responsible forpreparing the Report of the Trustees and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fairview of the 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 required to-

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 thecharitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence fortaking 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 auditor is 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 auditor is aware of that information.

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Report of the Independent Auditor to the Trustees of
The Japan Society
I have audited the financial statements of The Japan Society for the year ended 31 December 2015 on pages six toseventeen. The financial reporting framework that has been applied in their preparation is applicable law and the
Financial Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom Generally Accepted
Accounting Practice applicable to Smaller Entities).
This report is made solely to the charitable company's trustees, as a body, in accordance with Section 145 of theCharities Act 2011 and regulations made under Section 154 of that Act. My audit work has been undertaken so that I
might state to the charitable company's trustees those matters I am required to state to them in an auditor's report and forno other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other thanthe charitable company and the charitable company's trustees as a body, for my audit work, for this report, or for theopinions I have formed.
Respective responsibilities of trustees and auditor
As explained more fully in the Statement of Trustees Responsibilities set out on page three, the trustees (who are also
the directors of the charitable company for the purposes of company law) are responsible for the preparation of thefinancial statements and for being satisfied that they give a true and fair view.
The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather
than the Companies Act 2006. Accordingly I have been appointed as auditor under Section 145 of the Charities Act
2011 and report in accordance with regulations made under Section 154 of that Act.
My responsibility is to audit and express an opinion on the financial statements in accordance with applicable law
andInternational Standards on Auditing (UK and Ireland). Those standards require me to comply with the Auditing
Practices Board's Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to givereasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or
error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company's
circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant
accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, I read all
the financial and non-financial information in the Report of the Trustees to identify material inconsistencies with theaudited financial statements and to identify any information that is apparently materially incorrect based on, ormaterially inconsistent with, the knowledge acquired by us in the course of performing the audit. If I become aware of
any apparent material misstatements or inconsistencies I consider the implications for my report.
Opinion on financial statements
In my opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2015 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 Practiceapplicable to Smaller Entities; andhave been prepared in accordance with the requirements of the Companies Act 2006.

11

Report of the Independent Auditor to the Trustees of
The Japan Society
Matters on which I am required to report by exception
I have nothing to report in respect of the following matters where the Charities Act 2011 requires me to report to you if,
in my 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; orI have not received all the information and explanations I require for my audit.

Richard Place Dobson Services Limited
Statutory auditors
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: .............................................

12

The Japan Society
Statement of Financial Activities(Incorporating an Income and Expenditure Account)for the Year Ended 31 December 2015

Notes

Unrestricted
fund£

DesignatedFund£

Restrictedfund£

31.12.15
Total funds£

31.12.14
Total funds(as restated)£

INCOME FROM
Donations and legacies

2373,484

30,00062,955

466,439463,286

Charitable activities
Investment income
Other income

34
5

27,030441
20,183

-

3,303
24

30,333441
20,207

24,530949
40,814421,138

30,00066,282

517,420

529,579

11,677--

11,677

9,871

Charitable activities
Membership and publications
EventsSchools education
Tohoku Earthquake
Small grants

170,008
134,048
102,513
10,763

11,736
1,245
24,861
170

44,963
21,295

181,744
135,293
172,337
32,228151,064
144,347
148,665
145,481
29,857

Total

429,009

38,012

66,258533,279

629,285

NET (EXPENDITURE) /INCOME

(7,871)(8,012)24(15,859)(99,706)(5,661)

5,661

-

-

-

(13,532)(2,351)

24(15,859)(99,706)

Total funds brought forward

288,669

639,735

125

928,529

1,028,235

TOTAL FUNDS CARRIEDFORWARD

275,137

637,384149

912,670928,529

Total

EXPENDITURE ON
Cost of raising funds

Transfers between funds

Net movement in funds

6
7

18

RECONCILIATION OF
FUNDS

13

The Japan Society
Balance SheetAt 31 December 2015

Notes

Unrestricted
fund£

DesignatedFund£

Restricted
fund
£

14

21,443

481,735

15

65,793
241,762

31.12.15
Total funds

31.12.14
Total funds

£

£

-

503,178

506,946

155,650

149

65,793
397,561

49,069428,641

307,555

155,650149

463,354477,710

CREDITORS
Amounts falling due within one
year
16(53,862)--(53,862)(56,127)

NET CURRENT ASSETS

253,693

155,650

149

409,492

421,583

TOTAL ASSETS LESSCURRENT LIABILITIES

275,136

637,385149

912,670928,529

NET ASSETS

275,136

637,385149

912,670928,529

275,137
637,384

288,669
639,735

Restricted funds

912,521
149

928,404125

TOTAL FUNDS

912,670928,529

FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
Cash at bank

FUNDS
Unrestricted funds:
General fund
Designated Fund

18

14

The Japan Society
Balance Sheet - continued
At 31 December 2015
The charitable company is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to
subsidiary charitable companies for the year ended 31 December 2015.
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 asat the end of each financial year and of its surplus or deficit for each financial year in accordance with therequirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies
Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities(effective January 2015).
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its
behalf by:.............................................
Sir D Warren -Trustee.............................................
S Yoshida -Trustee

15

The Japan Society
Notes to the Financial Statements
for the Year Ended 31 December 2015
1.

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 (FRSSE) 'Accounting and Reporting by Charities: Statement ofRecommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015)', the Financial ReportingStandard for Smaller Entities (effective January 2015), the Charities Act 2011 and the Companies Act 2006. The
financial statements have been prepared under the historical cost convention, as modified by the revaluation ofcertain assets.
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 to the income
Other trading income includes event income and income for courses and resources. This income is included in
the year 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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing thecharitable companycharity to that expenditure, it is probable that a transfer of economic benefits will be requiredin settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs
cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent
with the use of resources.
Expenditure includes and VAT which cannot be fully recovered and is reported as part of the expenditure towhich it relates.
Costs of raising funds comprise the costs associated with attracting voluntary income and costs of fund raising.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and thosecosts of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements ofthe charity 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, which include admin salaries, establishment and office costs, have been allocated against thecharitable activities based on direct staff time spent on each activity.

16

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 2015
1.

ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual valueof each 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 rarebooks 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.
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 thebalance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange rulingat the date of transaction. 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
over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to thecharitable company's pension scheme are charged to the Statement of Financial Activities in the period to which
they relate.

2.

DONATIONS AND LEGACIES
Unrestricted
funds£
Corporate membership subscriptions
Corporate donations
Corporate sponsorship
Individual membership subscriptions
Individual donations
Project funding

Designated Restricted
funds
funds
£
£

Total
2015
£

Total
2014
£

90,404
227,900
24,007
24,432
6,741-

30,000-62,955-90,404
320,855
24,007
24,432
6,741-

91,091
314,627
10,98527,063
15,3284,192

373,484

30,00062,955

466,439463,286

17

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 2015
3.

CHARITABLE ACTIVITIESEvent income
Education income and direct projects

4.

Unrestricted
funds£

Restricted
funds
£

Total
2015
£

Total
2014
£

27,030-3,303

27,0303,303

19,9394,591

27,0303,303

30,33324,530INVESTMENT INCOME
31.12.15£
441

Deposit account interest

5.

OTHER INCOME
Unrestricted Restricted
fund
fund
£
£
Publications and sale of books
Rental income
Secretariat income

6.

31.12.14
£
949

Total
2015
£

Total
2014
£

4,633
10,800
4,750

24
-

4,657
10,8004,750

30,014
10,800-20,18324

20,20740,814RAISING FUNDS
Raising donations and legacies

Fund raising activities
Marketing, website & database18

31.12.15
£
3,675
8,002

31.12.14
£
6,023
3,848

11,677

9,871

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 2015
7.

CHARITABLE ACTIVITIES COSTS£
134,554
106,454
121,213
7,002

Grant fundingof activities(See note 8)£
21,295

Support costs(See note 9)£47,19028,83951,124
3,931£
181,744
135,293
172,337
32,228369,223

21,295131,084

521,60231.12.15£
21,29531.12.14£
19,03031.12.15£

31.12.14£

Direct costs

Membership and publications
EventsSchools education
Small grants

8.

TotalsGRANTS PAYABLE

Small grants
Material grants paid to institutions during the year:

Japan Association in the UK
University of StirlingMusicity Limited
University for the Creative Arts
Satsuma 150
Greenthorpe CE Primary School
Foundation for Art & Creative Culture
Other small grants paid to 27 institutions (2014:15)
Keys of Change
Clifton Scientific Trust
The Folkestone Academy
A Thousand Cranes
University of Plymouth
Switch Radio
Tate St Ives
Southwark Playhouse Theatre

9.

1,000
1,000
1,000
1,000
1,000
1,000
1,000
12,095

8,580
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

19,095

16,580SUPPORT COSTS

Membership and publications
EventsSchools education
Small grants

Staff costs
£
7,451
4,553
8,072
621

Other
£
36,79922,48839,864
3,067

Governance
costs
£
2,940
1,798
3,188
243

Totals£47,19028,83951,124
3,931

20,697102,218

8,169

131,084

Support costs, included in the above, are as follows:
19

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 2015
9.

SUPPORT COSTS - continued

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

Membership
andpublications
£
3,467
416
3,568
24,204
3,779
5,594
2,444
778
2,501
439

Events
£
2,119
254
2,180
14,792
2,309
3,418
1,494
475
1,529
269

Schools
education
£
3,756
451
3,865
26,222
4,093
6,059
2,648
842
2,711
477

47,19028,83951,124

288
35
298
2,017
315
466
204
65
209
34

31.12.15
Total
activities
£
9,630
1,156
9,911
67,235
10,496
15,537
6,790
2,160
6,950
1,219

31.12.14
Total
activities
£
9,914
1,190
9,309
58,893
9,151
24,779
6,767
8,700
1,231

3,931

131,084

129,934

31.12.15£
6,950
10,49631.12.14
£
8,700
9,151

Small grants£
Wages
Social security
Pensions
Establishment expenses
Depreciation of tangible and heritage assets
Office expenses
General expenses
Consultancy
Auditors' remuneration
Bank charges

10.

NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets

20

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 201511.

TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2015 nor for the year
ended 31 December 2014.
Trustees' expenses
During the year one member of the board was reimbursed for expenses:
Sir David Warren - £254 (2014: £2,924) in relation to miscellaneous expenses
The charity carried indemnity insurance for its trustees, for which a premium of £1,085 (2014: £1,085) was paid.

12.

STAFF COSTS

Wages and salaries
Social security costs
Other pension costs

31.12.15£
200,749
19,0469,911

31.12.14£
200,655
16,312
9,309

229,706

226,276

31.12.15
9

31.12.14
9

The average monthly number of employees during the year was as follows:

Employees

No employees received emoluments in excess of £60,000.
13.

2014 STATEMENT OF FINANCIAL ACTIVITIES (Restated)
Unrestricted
fund£

DesignatedFund£

Restricted
fund£

Total funds

INCOME AND
ENDOWMENTS FROM
Donations and legacies

398,117-

65,169463,286

Other trading activities
Investment income
Other income

19,939949
34,814

-

4,591
6,000

24,530949
40,814

Total

453,819-

75,760529,579£

EXPENDITURE ON
Raising funds
Charitable activities
Membership and publications
EventsSchools education
Tohoku Earthquake
Small grants

9,871

-

-

9,871

123,746
138,347
129,327
10,827-27,3186,000
19,338145,481
19,030151,064
144,347
148,665
145,481
29,857

Total

412,118-

217,167

629,28521

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 2015
13.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES – continued
Unrestricted
fund£

DesignatedFund£

Restricted
fund£

Total funds

41,701-(141,407)(99,706)

Transfers between funds(158,000)

158,000--

Net movement in funds(116,299)

158,000(141,407)(99,706)

Total funds brought forward

404,968

481,735

141,532

1,028,235

TOTAL FUNDS CARRIED FORWARD

288,669

639,735

125

928,529

Library£

Fixtures andfittings£

Totals£COST
At 1 January 2015
Additions481,735-

38,489
6,002

520,224
6,002

At 31 December 2015

481,735

44,491

526,226

DEPRECIATION
At 1 January 2015
Charge for year-

13,2789,770

13,2789,770

At 31 December 2015-

23,04823,048NET BOOK VALUEAt 31 December 2015

481,735

21,443503,178

At 31 December 2014

481,735

25,211

506,946

NET INCOME/(EXPENDITURE)£

RECONCILIATION OF
FUNDS

14.

TANGIBLE FIXED ASSETS

The last professional valuation of the library was undertaken by Maggs and Sons in 2005. After due
consideration and consultation with relevant professionals, a collective decision was taken by the board oftrustees not to alter the value of the library. Under Accounting and Reporting by Charities: Statement ofRecommended 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.

22

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 201515.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income

16.

31.12.14£
9,905
39,16465,79349,06931.12.15
£
60
5,146
5,110
12,88030,66631.12.14
£
8,088
4,906
4,293
11,46427,37653,86256,12731.12.15£

31.12.14£

30,80030,800CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income

17.

31.12.15£
42,667
23,126OPERATING LEASE COMMITMENTS
The following operating lease payments are committed to be paid within one year:

Expiring:
Between one and five years

18.

MOVEMENT IN FUNDS
Restricted funds:
The funds of the Society include restricted funds. The following are the unexpended balances of such funds:
Balance at
01.01.15£

Incoming
resources£

Resources
expended£

Balance at
31.12.15
£

125
-

24
66,25866,258149-

125

66,282

66,258149

Tohoku Earthquake Fund
Education Fund

Certain funds are restricted to expenditure relating to schools education and small grants.
Tohoku Earthquake Fund represents the donations made specifically for the Japan Society Tohoku Relief Fundby members and the general public. During 2011, the Society entered into an agreement with the SanaburiFoundation in Sendai to provide a framework for the disbursement of these funds in Tohoku.

23

The Japan Society
Notes to the Financial Statements - continued
for the Year Ended 31 December 201518.

MOVEMENT IN FUNDS - continued
Designated funds:
The income funds of the charity include the following designated funds which have been set aside out ofunrestricted funds by the trustees for specific purposes:

LibraryJapan office fund
Maintenance fund
Digitisation of books fund

Balance at
01.01.2015£

Incoming
resources£

Resources
expended£Transfers£

Balance at
31.12.2015£

481,735
150,000
8,000-

30,00022,653
5,661
9,698

5,661
-

481,735
127,347
8,000
20,302639,735

30,00038,012

5,661

637,384

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 is a new venture, with particular responsibility for working on
education projects. Designating funding for this purpose ensures that this is a sustainable development in theSociety's activity.
The maintenance fund is an amount set aside to cover the Japan Society's share (20%) of the building
maintenance work at 13/14 Cornwall Terrace. This work is stipulated by Crown Estates and carried out on afive year cycle.
J Paul Getty donated £30,000 to the Society during the year, which was restriction free, but they indicated theywould like the donation to assist with the costs of digitising the library books.
19.

RELATED PARTY DISCLOSURESThe Japan Society is a corporate director of Japan Matsuri. The Japan Society gave a contribution of £2,500(2014: £2,500) during the year.

20.

FIRST YEAR ADOPTION OF FRSSE CHARITIES SORP
On adoption of the Charities SORP FRSSE (effective 1.1.15), we have changed the SOFA so that expenditure
is now categorised by charitable activities and has an allocation of support costs charged against the activity
based on direct staff time spent on the activity. The trustees have identified four main charitable activities.
The 2014 SOFA has been restated to show the comparatives on a similar basis to 2015. This change is purely
presentational and has not amended the deficit made or the overall net assets of the Charity.

24