```
REGISTERED COMPANY NUMBER: 06067602 (England and Wales)
REGISTERED CHARITY NUMBER: 1118440
```
## **`REPORT OF THE TRUSTEES AND`**
## **`FINANCIAL STATEMENTS`**
## **`FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`FOR`**
## **`THE EXEMPLAR TRUST`**
```
Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH
```
```
THE EXEMPLAR TRUST
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022`**
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Report of the Independent Auditors`**|`4`|`to`|`6`|
|**`Statement of Financial Activities`**||`7`||
|**`Balance Sheet`**||`8`||
|**`Notes to the Financial Statements`**|`9`|`to`|`15`|
```
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2022`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsofthecharityfortheyearended31January2022.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
The objectives of the charity are:
```
- `The relief of poverty among persons of the Jewish faith in any part of the world;`
- `The advance of the Jewish religion in any part of the world;`
- `The advancement of the education of the public in any part of the world in the knowledge of the Jewish history and`
- `culture;`
```
-SuchothercharitablepurposesforthebenefitofpersonsoftheJewishfaithinanypartoftheworldasthe
Trustees shall from time to time decide.
```
```
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
public benefit when reviewing the charity's aims and objectives and in planning future activities.
```
```
Thetrusteesidentifyinstitutionsandorganisationswhichmeetitsabovecriteriaandregularlysupportanumberof these
institutions and organisations.
```
```
The principal activity of the company's subsidiaries are that of dealing in residential properties.
```
## **`Grantmaking`**
```
Grantsaremadetocharitableinstitutionsandorganisationsafterithasbeensatisfiedthatpaymentswillaccordwith the
objectives of the charity.
```
## **`Volunteers`**
```
There were no volunteers during the year.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Charitable activities`**
```
The results for the year and the financial position at the year end were considered satisfactory by the trustees.
```
## **`Fundraising activities`**
```
Incomearisingoninvestmentswasconsideredreasonableandthetrusteesfeelthatthepresentlevelofincomeis sufficient
to permit the charity to continue for the foreseeable future.
```
```
Asummaryofthecharity'stransactionsandofit'sfinancialpositionisshowninthefinancialstatementstogetherwith the
accompanying notes.
```
## **`Investment performance`**
```
Under the Memorandum and Articles of Association the charity has the power to invest in any way the trustees wish.
```
```
Thetrusteesaresatisfiedwiththereturnoninvestmentsachievedduringtheyearandfeelconfidentthatthecharity has
adequate reserves to fulfil its charitable obligations.
```
## **`FINANCIAL REVIEW`**
## **`Principal funding sources`**
```
The principal funding sources are donations from corporate sponsors and investment income.
```
```
Page 1
```
```
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
Thecharityaimstomaintainreservesinorderthatitisinapositiontocontinueitsgrantmakingactivitiesata consistent
levelandtocovercontingenciesofadditionalcallsbeingmadeuponthecharityforsupportoforganisationsorinstitutions in
times of need.
```
```
Thepresentleveloffundingisadequatetosupportthecontinuationoftheprovisionofassistancebythegivingofgrants or
equipment in the short term, and the trustees consider the financial position of the charity to be satisfactory.
```
## **`FUTURE PLANS`**
```
TheTrusteesplantocontinuetosupportcharitiesandcharitablepurposesinaccordancewiththeirgrantmakingpolicy and
to ensure that the ability to generate sufficient income is maintained to achieve that end.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limitedby guarantee,
as defined by the Companies Act 2006.
```
```
Thecharityisconstitutedasacompanylimitedbyguaranteeandassuch,itsgoverningdocumentsareitsMemorandum and
Articles of Association
```
## **`Recruitment and appointment of new trustees`**
```
Membership of the Charity is open to any individual interested in promoting the Objects who:
```
`1. applies to the charity in the form required by the Trustees;`
`2. is approved by the Trustees;`
`3. signs the Register of members or consents in writing to become a member.`
## **`Organisational structure`**
```
Thecompanyhas5trustees,namesofmembersarelistedonpage2.Thecharityisorganisedsothatthetrustees meet
regularly to manage the affairs of the charity. Nominations for appointment are only solicited from members of the charity.
```
## **`Induction and training of new trustees`**
```
NewTrusteesmustfamiliarisethemselveswiththecontentoftheMemorandumandArticlesofAssociation,their legal
obligationsundercharityandcompanylaw,theorganisationalstructureofTheExemplarTrustandtherecent financial
performance of the charity.
```
```
Training of trustees will depend on their previous knowledge and experience.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
06067602 (England and Wales)
```
## **`Registered Charity number`**
```
1118440
```
## **`Registered office`**
```
First Floor, Winston House
349 Regents Park Road
London
N3 1DH
```
## **`Trustees`**
```
N Teitelbaum Company Director
B Blau Company Director
Mrs S Iwanier Company Director
Ms J Wilk Company Director
E Teitelbaum Company Director
```
```
Page 2
```
```
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary`**
```
N Teitelbaum
```
## **`Auditors`**
```
Aryeh Melinek FCA
Chartered Accountant
Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH
```
## **`Bankers`**
```
The Royal Bank of Scotland
```
## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`**
```
Thetrustees(whoarealsothedirectorsofTheExemplarTrustforthepurposesofcompanylaw)areresponsible for
preparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicablelawandUnited Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
```
```
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgiveatrueandfairview of
thestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplicationofresources,including the
incomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparingthosefinancialstatements,thetrustees 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 the charitable company will continue in business.`
```
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytime the
financialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomplywith the
CompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhencefor 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; and`
- `the 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.`
## **`AUDITORS`**
```
The auditors, Melinek Fine LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
```
```
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relating to
small companies.
```
```
Approved by order of the board of trustees on 21 November 2022 and signed on its behalf by:
```
```
N Teitelbaum - Trustee
```
```
Page 3
```
```
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE EXEMPLAR TRUST
```
## **`Opinion`**
```
WehaveauditedthefinancialstatementsofTheExemplarTrust(the'charitablecompany')fortheyear ended
31January2022whichcomprisetheStatementofFinancialActivities,theBalanceSheetandnotestothe financial
statements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathasbeen applied
intheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally 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 January 2022 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; and`
- `have been prepared in accordance with the requirements of the Companies Act 2006.`
## **`Basis for opinion`**
```
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our
responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial
statementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewiththeethical requirements
thatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehave fulfilled
ourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have
obtained is sufficient and appropriate to provide a basis for our opinion.
```
## **`Conclusions relating to going concern`**
```
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccountingin the
preparation of the financial statements is appropriate.
```
```
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsorconditions that,
individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sabilitytocontinueasagoingconcernfor a
period of at least twelve months from when the financial statements are authorised for issue.
```
```
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedinthe relevant
sections of this report.
```
## **`Other information`**
```
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedin the
Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
```
```
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextentotherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon.
```
```
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoing so,
considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtained in
theauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistenciesorapparent material
misstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementinthefinancial statements
themselves.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthis other
information, we are required to report that fact. We have nothing to report in this regard.
```
## **`Opinions on other matters prescribed by the Companies Act 2006`**
```
In our opinion, based on the work undertaken in the course of the audit:
```
- `the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and`
- `the Report of the Trustees has been prepared in accordance with applicable legal requirements.`
```
Page 4
```
```
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE EXEMPLAR TRUST
```
## **`Matters on which we are required to report by exception`**
```
Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedinthecourseof the
audit, we have not identified material misstatements in the Report of the Trustees.
```
```
WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresustoreporttoyou if,
in our opinion:
```
- `adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or`
- `the financial statements are not in agreement with the accounting records and returns; or`
- `certain disclosures of trustees' remuneration specified by law are not made; or`
- `we have not received all the information and explanations we require for our audit; or`
- `the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.`
## **`Responsibilities of trustees`**
```
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsof the
charitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationofthefinancialstatementsand for
beingsatisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermineisnecessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
```
```
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sabilityto continue
asagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations,orhaveno realistic
alternative but to do so.
```
## **`Our responsibilities for the audit of the financial statements`**
```
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrom material
misstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludesour opinion.
Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewith ISAs
(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorand are
consideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencethe economic
decisions of users taken on the basis of these financial statements.
```
```
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
```
```
Irregularities,includingfraudareinstancesofnon-compliancewithlawsandregulations.Wedesignedproceduresin line
with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.
```
```
Auditproceduresundertakeninresponsetothepotentialrisksrelatingtoirregularities(whichincludefraud and
non-compliancewithlawsandregulations)comprisedof:inquiriesofmanagementandthosechargedwithgovernanceas to
whethertheCharitycomplieswithsuchlawsandregulations;enquirieswiththesameconcerninganyactualor potential
litigationorclaims;inspectionofrelevantlegalcorrespondence;reviewoftrusteesminutes;testingtheappropriateness of
entriesinthenominalledger,includingjournalentries;reviewingtransactionsaroundtheendofthereportingperiod; and
theperformanceofanalyticalprocedurestoidentifyunexpectedmovementsinaccountbalanceswhichmaybeindicative of
fraud.
```
```
Noinstancesofmaterialnon-compliancewereidentified.However,thelikelihoodofdetectingirregularities,includingfraud, is
limitedbytheinherentdifficultyindetectingirregularities,theeffectivenessoftheentity'scontrols,andthenature, timing
andextentoftheauditproceduresperformed.Irregularitiesthatresultfromfraudmightbeinherentlymoredifficultto detect
thanirregularitiesthatresultfromerror.Asexplainedabove,thereisanunavoidableriskthatmaterialmisstatements may
not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
```
```
AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting
Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent
Auditors.
```
```
Page 5
```
```
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE EXEMPLAR TRUST
```
## **`Use of our report`**
```
Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3ofPart16of the
CompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitablecompany's members
thosematterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent
permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyandthe charitable
company's members as a body, for our audit work, for this report, or for the opinions we have formed.
```
```
Aryeh Melinek (Senior Statutory Auditor)
for and on behalf of Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N3 1DH
```
```
21 November 2022
```
```
Page 6
```
```
THE EXEMPLAR TRUST
```
## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2022`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`2`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`3`
**`Charitable activities`**
`4`
`Charitable activities`
**`Total`**
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|**`2022`**
**`Unrestricted`**
**`fund`**
**`£`**
**`258,344`**
**`6,000`**
**`264,344`**
**`81,620`**
**`13,914`**
**`95,534`**
**`168,810`**
**`4,327,676`**
**`4,496,486`**|`2021`
`Total`
`funds`
`£`
`243,823`
`-`|
|---|---|---|
|||`243,823`|
|||`50,805`
`28,736`|
|||`79,541`|
|||`164,282`
`4,163,394`|
|||`4,327,676`|
```
The notes form part of these financial statements
```
```
Page 7
```
```
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602)
```
## **`BALANCE SHEET 31 JANUARY 2022`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`10`
**`Investments`**
`Investments`
`11`
`Investment property`
`12`
**`CURRENT ASSETS`**
`Debtors`
`13`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`14`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`17`
`Unrestricted funds`
**`TOTAL FUNDS`**|**`2022`**
**`Unrestricted`**
**`fund`**
**`£`**
**`-`**
**`12,501`**
**`3,975,502`**
**`3,988,003`**
**`242,746`**
**`291,334`**
**`534,080`**
**`(25,597)`**
**`508,483`**
**`4,496,486`**
**`4,496,486`**
**`4,496,486`**
**`4,496,486`**|`2021`
`Total`
`funds`
`£`
`600`
`12,501`
`3,975,502`
`3,988,603`
`197,735`
`176,298`
`374,033`
`(34,960)`
`339,073`
`4,327,676`
`4,327,676`
`4,327,676`
`4,327,676`|
|---|---|---|
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompanies subject
to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon21November2022and were
signed on its behalf by:
```
```
N Teitelbaum - Trustee
```
```
The notes form part of these financial statements
```
```
Page 8
```
```
THE EXEMPLAR TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCompanies Act
2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
```
## **`Preparation of consolidated financial statements`**
```
ThefinancialstatementscontaininformationaboutTheExemplarTrustasanindividualcompanyanddonot contain
consolidatedfinancialinformationastheparentofagroup.ThecharityisexemptunderSection399(2A)of the
Companies Act 2006 from the requirements to prepare consolidated financial statements.
```
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthe charity
tothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandthe amount
oftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedto particular
headings they have been allocated to activities on a basis consistent with the use of resources.
```
```
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitment but
not accrued as expenditure.
```
## **`Tangible fixed assets`**
```
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
```
```
Fixtures and fittings- 25% on cost
```
## **`Investment property`**
```
Investmentpropertiesareinitiallyrecognisedatpurchasepriceplusanydirectlyattributablecosts. Subsequently,
investmentpropertiesaremeasuredatfairvaluewithanychangestofairvaluetransferredtotheStatement of
Financial Activities.
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
All funds held are unrestricted income funds.
```
## **`Legal status of the charity`**
```
Thecharityisacompanylimitedbyguaranteeandhasnosharecapital.Liabilityofeachmemberintheevent of
winding-up is limited to £10.
```
```
continued...
```
```
Page 9
```
```
THE EXEMPLAR TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Financial instruments`**
```
Thecharityonlyentersintobasicfinancialinstrumentstransactionsthatresultintherecognitionoffinancial assets
and liabilities like trade and other debtors and creditors.
```
```
Financialassetsthataremeasuredatcostandamortisedcostareassessedattheendofeachreportingperiod for
objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss.
```
```
FinancialassetsandliabilitiesareoffsetandthenetamountreportedintheBalanceSheetwhenthereis an
enforceablerighttosetofftherecognisedamountsandthereisanintentiontosettleonanetbasisortorealise the
asset or settle the liability simultaneously.
```
## **`2. INVESTMENT INCOME`**
|`Rents received`
`Interest receivable`|**`2022`**
**`£`**
**`255,047`**
**`3,297`**
**`258,344`**|`2021`
`£`
`240,613`
`3,210`|
|---|---|---|
|||`243,823`|
## **`3.`**
## **`RAISING FUNDS`**
## **`Investment management costs`**
|`Computer costs`
`Insurance`
`Management charges`
`Property repairs`
`Maintenance charges`
`Depreciation`|**`2022`**
**`£`**
**`63`**
**`2,900`**
**`8,145`**
**`62,875`**
**`7,470`**
**`600`**
**`82,053`**|`2021`
`£`
`375`
`3,224`
`8,578`
`31,387`
`6,354`
`887`|
|---|---|---|
|||`50,805`|
## **`4. CHARITABLE ACTIVITIES COSTS`**
|**`CHARITABLE ACTIVITIES COSTS`**||
|---|---|
||`Support`|
||`costs`|
||`£`|
|`Charitable activities`|**`13,914`**|
```
Included within support costs are governance costs in the sum of £6,137 and bank loan interest in the sum of £12.
```
```
continued...
```
```
Page 10
```
```
THE EXEMPLAR TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`5. GRANTS PAYABLE`**
||**`2022`**||`2021`|
|---|---|---|---|
||**`£`**||`£`|
|`Charitable activities`||**`-`**|`10,000`|
## **`6. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
||**`2022`**|`2021`|
|---|---|---|
||**`£`**|`£`|
|`Auditors' remuneration`|**`2,400`**|`-`|
|`Depreciation - owned assets`|**`600`**|`888`|
|`Independent Examiner's remuneration`|**`-`**|`2,400`|
## **`7. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31January2022norfortheyear ended
31 January 2021.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 January 2022 nor for the year ended 31 January 2021.
```
```
Therefore, there was no key management compensation.
```
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Charitable activities`
**`Total`**
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**|`Unrestricted`
`fund`
`£`
`243,823`|
|---|---|
||`50,805`
`28,736`|
||`79,541`|
||`164,282`
`4,163,394`|
```
continued...
```
```
Page 11
```
```
THE EXEMPLAR TRUST
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022
```
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
## **`TOTAL FUNDS CARRIED FORWARD`**
```
Unrestricted
fund
£
4,327,676
```
## **`9. EMPLOYEES`**
```
The average number of employees, excluding trustees, in the year was NIL (2021: NIL).
```
## **`10. TANGIBLE FIXED ASSETS`**
|**`TANGIBLE FIXED ASSETS`**||
|---|---|
||`Fixtures`|
||`and`|
||`fittings`|
||`£`|
|**`COST`**||
|`At 1 February 2021 and 31 January 2022`|**`17,208`**|
|**`DEPRECIATION`**||
|`At 1 February 2021`|**`16,608`**|
|`Charge for year`|**`600`**|
|`At 31 January 2022`|**`17,208`**|
|**`NET BOOK VALUE`**||
|`At 31 January 2022`|**`-`**|
|`At 31 January 2021`|`600`|
## **`11. FIXED ASSET INVESTMENTS`**
|**`FIXED ASSET INVESTMENTS`**||
|---|---|
||`Shares in`|
||`group`|
||`undertakings`|
||`£`|
|**`MARKET VALUE`**||
|`At 1 February 2021 and 31 January 2022`|**`12,501`**|
|**`NET BOOK VALUE`**||
|`At 31 January 2022`|**`12,501`**|
|`At 31 January 2021`|`12,501`|
```
There were no investment assets outside the UK.
```
```
The company's investments at the balance sheet date in the share capital of companies include the following:
```
## **`Exemplar Trading limited`**
```
Registered office:
Nature of business: Trading in properties.
```
```
%
Class of share:holding
Ordinary £1100
```
```
continued...
```
```
Page 12
```
```
THE EXEMPLAR TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`11. FIXED ASSET INVESTMENTS - continued`**
## **`Bluetree Property Group Limited`**
|**`Bluetree Property Group Limited`**||
|---|---|
|`Registered office:`||
|`Nature of business: Trading in properties.`||
||**`%`**|
|`Class of share:`|**`holding`**|
|`Ordinary £1`|**`100`**|
## **`12. INVESTMENT PROPERTY`**
## **`£`**
|**`INVESTMENT PROPERTY`**|**`£`**|
|---|---|
|**`FAIR VALUE`**
`At 1 February 2021`
`and 31 January 2022`
**`NET BOOK VALUE`**
`At 31 January 2022`
`At 31 January 2021`|**`3,975,502`**|
||**`3,975,502`**|
||`3,975,502`|
```
Investment property was valued on an open market basis by the directors.
```
## **`13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|---|---|---|
||**`2022`**|`2021`|
||**`£`**|`£`|
|`Trade debtors`|**`26,660`**|`36,460`|
|`Amounts owed by group undertakings`|**`154,278`**|`150,054`|
|`Other debtors`|**`59,148`**|`9,176`|
|`Fineland Properties Ltd`|**`457`**|`-`|
|`Prepayments`|**`2,203`**|`2,045`|
||**`242,746`**|`197,735`|
```
Shorttermdebtorsaremeasuredattransactionprice,lessanyimpairment.Otherdebtorsaremeasuredat amortised
cost.
```
```
continued...
```
```
Page 13
```
```
THE EXEMPLAR TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|---|---|---|
|`Bank loans and overdrafts (see note 15)`
`Other creditors`
`Accruals and deferred income`|**`2022`**
**`£`**
**`-`**
**`23,197`**
**`2,400`**
**`25,597`**|`2021`
`£`
`10,000`
`22,516`
`2,444`|
|||`34,960`|
```
Shorttermcreditorsaremeasuredattransactionprice,lessanyimpairment.Othercreditorsaremeasured at
amortised cost.
```
## **`15. LOANS`**
```
An analysis of the maturity of loans is given below:
```
||**`2022`**||`2021`|
|---|---|---|---|
||**`£`**||`£`|
|`Amounts falling due within one year on demand:`||||
|`Bank loans`||**`-`**|`10,000`|
## **`16. SECURED DEBTS`**
```
Security is effected by specific legal charges on the properties held by the charity.
```
## **`17. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.2.21`
`£`
**`4,327,676`**
**`4,327,676`**
`Incoming`
`resources`
`£`
**`264,344`**
**`264,344`**||`Net`
`movement`
`in funds`
`£`
**`168,810`**
**`168,810`**
`Resources`
`expended`
`£`
**`(95,534)`**
**`(95,534)`**|`At`
`31.1.22`
`£`
**`4,496,486`**|`At`
`31.1.22`
`£`
**`4,496,486`**|
|---|---|---|---|---|---|
|||||**`4,496,486`**||
||||||`Movement`
`in funds`
`£`
**`168,810`**|
||||||**`168,810`**|
```
continued...
```
```
Page 14
```
```
THE EXEMPLAR TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022`**
## **`17. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|`At 1.2.20`
`£`
**`Unrestricted funds`**
`General fund`
`4,163,394`
**`TOTAL FUNDS`**
`4,163,394`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`243,823`
**`TOTAL FUNDS`**
`243,823`|`Net`
`movement`
`in funds`
`£`
`164,282`
`164,282`
`Resources`
`expended`
`£`
`(79,541)`
`(79,541)`|`At`
`31.1.21`
`£`
`4,327,676`|`At`
`31.1.21`
`£`
`4,327,676`|
|---|---|---|---|
|||`4,327,676`||
|||`Movement`
`in funds`
`£`
`164,282`
`164,282`||
||||`164,282`|
## **`18. RELATED PARTY DISCLOSURES`**
```
Thecharitablecompanyhastakenadvantageofexemption,underthetermsofFinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland',nottodiscloserelated party
transactions with wholly owned subsidiaries within the group.
```
```
Page 15
```