REGISTERED COMPANY NUMBER: 06067602 (England and Wales) REGISTERED CHARTfY NUMBER: 1118440 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 FOR THE EXEMPLAR TRUST Mellnek Flne LLP Chartered Accountsnts Statutory Auditors Flrst Floor, Winston House 349 Regents Park Road London N3 IDH
THE EXEMPLAR TRUST CONTENTS OF THE FXNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Page Report of the Trustees Report ol the Independent Audltors 4 to 7 statement of Flnanclal Artivities Balance Sheet Notes to the Financlal Ststements 10 to 16
THE EXEMPLAR TRusf (REGISTERED NUMBER: 06067602) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 The trustees who are also directors of the charity for the purpose5 of the Companies Act 2006, pent their report wlth the financlal Statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of Accountlng and Reporting by Charltles: Statement of Recornmended Practice applicable to charltles preparlng thelr ccounts in accordance with the Finandal Rewrting Stsndard appllcable In the UK and Republlc of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and alms The objecuves of the charity are: - The rellef of povety among persons of the Jewish falth in any part of the world. - The advance of the Jewish religlon in any part of the world; - The advancement of the education of the public in any part of the workl In the knowledge of the Jewish hlstory and culture" Such other charltable purposes for the benefit of persons of the Jewlsh faith in any part of the world as the Trustees shall from tlme to time declde. The trustees conflrm that they have referred to the guidance contained in the Charity Commi55ion's general guidance on public benefit when revlewln9 the charity's alms and object6ves and In planning future actlvitles. The trustees Identify Institutlons and organlsatlons which meet Its above criteria and gUlarlY support a number of these Instltutlons and organlsatlons. The prlnclpal actlvlty of the company's subsldiarles are that of dealing In resldentlal propertles. Grantmaklng Grants are made to charitable Institutlons and organlsatlons after It has been satisfied that payments wlll accord wlth the objectives of the charlty. Volunteers There were no volunteers durlng the year. ACHIEVEMENT AND PERFORMANCE Charltable actlvltieg The results for the year and the flnanclal positlon at the year end v considered satisfactory by the trustees. Fundralsing actlvltleg Income arlslng on investments was consldered reasonable and the trustees feel that the present level of Income Is sufflclent to permlt the charlty to contlnue for the foreseeable futu. A summary of the charfty's transactlons and of ivs financlal position is shown In the financlal statements together with the accompanylng note5. Investment performance Under the Memorandum and Articles of Association the charty has the power to invest In any way the trustees wSsh. The trustees are satlsfied wlth the return on investments achleved during the year and feel confident that the charlty has adequate reserves to fulfil its charitable obligations. FINANCIAL REVIEW Prlnclpal funding sources The prlnclpal funding sources are donations from corporate sponsors and Investment income. Reserves policy The charity alms to maintain reserves In order that it is in a position to continue its grant making activities at a conslstent level and to cover contingencie5 of additional calls being made urh)n the charity for support of organisations or Institutlons in tlmes of need. The present level of funding is adequate to support the continuation of the provision of asslstance by the glving of grants or equipment in the short term, and the trustees consider the financtal posltion of the charity to be satisfactory. Page I
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 FiwfuR£ PLANS The Trustees plan to continue to support charitie5 and charitsble purposes in accordance with their grant making pollcy and to ensure that the abllity to generate sufflclent income is maintained to achieve that end. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty Is controlled by Its goveming document, a deed of trust, and constitutes a limited companyi Ilmlted by guarantee, as defined by the Companles Act 2006. The charity is constituted as a company limited by guarantee and as such,5ts governing documents are its Memorandum and Articles of Association Recrultment and appolntment of new trustees Membership of the Charity is open to any individual interest&J In prornoting the Objects who: l. applles to the charlty in the fomi required by the Trustees., 2. Is approved by the Trustees; 3. slgns the Reglster of members or consents In writing to become a member. Organlsatlonal structure The company has 5 trustees, names of members are Ilsted on page 2. The charlty is organisell so that the twstees meet regularly to manage the affairs of the charity. Nomlnatlons for appolntment are only sollclted from members of the charlty. Inductlon and tralnlng of new trustees New Trustees must famlllarise themselves Wlth the content of the Memorandum and Artldes of Assoclatlon, their legal obllgatlons under charSty and company law, the organlsational structure of The Exemplar Trust and the rent flnandal performance of the charity. Training of trustees wlll depend on thelr prevlous knowledge and expertence. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 06067602 (England and Wales) Reglstered Charlty number 1118440 Reglstered offlce Flrst Floor, Wlnston House 349 Regents Park Road London N3 IDH Trustees N Teltelbaum Company Dlrector B Blau Company Dlrector Mrs S Iwanier Company Director Ms J Wilk Company D1Ctor E Teitelbaum Company t1ctor Company Secretsry N Teltelbaum Audltors Mellnek Flne LLP Chartered Accountants statutory Auditors Flrst Floor, Winston House 349 Regents Park Road London N3 IDH Page 2
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers The Royal Bank of Scotland STATEMENT OF TRUSTEES. RESPONSIBILrnES The trustees (who are also the directors of The Exempfar Trust for the purposes of company law) are responsible for preparing the Report of the Trustee5 and the financial statsments In accordan with applicable law and United Kingdom Accounting Standards (United Klngdom Generally ACpted Accounting practi). Company law requires the trustees to prepare finandal statements for each financlal year which glve a true and fair view of the state of affalrs of the charitable company and of the Incomln9 resourtrs and application of resources, includlng the income and expendlture, of the charltable company for that perlod. In preparing those flnanclal ststements, the trustee5 are required to select 5ultable accounting poliaes and then apply them consistentlyi observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financlal statements on the going concern basls unless it Is inapproprlate to presume that the charltable company will contlnue In business. The trustees are responslble for keeplng proper accountlng records which dlsclose with reasonable accuracy at any tlme the flnanclal posltlon of the charitable company and to enable them to ensure that the flnancial statements comply with the Companies Act 2006. They are a150 re5wnslble for Safeguarding the assets of the charltable company and hence for taklng reasonable steps for the prevention and detectlon of fraud and other irregularltles. In 50 far as the trustees are aware: there Is no relevant audlt Informatlon of whlch the charitable company's auditors are unaware; and the tr¢Jstees have taken all steps that they ought to have taken to make themselves awa of any relevant audit informatlon and to establlsh that the audltors are aware of that information. AUDITORS The auditors, Mellnek Fine LLP, wlll be proposed for re-appolntment at the forthcomlng Annual General Meetlng. Th15 report has been ppared In attordance with the speclal provlslons of Part 15 of the Companles Act 2006 relatlng to small companles. Approved by order of the board of trustees on ...... nd Igned on Its behalf by: Y'1 N Teltelbaum - Trustee Page 3
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE EXEMPLAR TRUST Opinion We have audited the flnancial 5tatsments of The Exemplar Trust (the 'charitable company'} for the year ended 31 January 2024 whlch comprise the Statement of Financlal Activities, the Balance Sheet and notes to the financlal statements, including a summary of slgnificant accounting lIcieS. The financial reporting framework that has been applied In thelr preparation Is applicable law and United Klngdom Accounting Standards (Unlted Kingdom Generally ACpted Accounting Practice). In our oplnlon the financial statements: give a twe and fair view of the state of the charrtable company's affair5 35 at 31 January 2024 and of Its Incomlng resources and appllcatlon of resources, including its income and expendlture, for the year then ended. have been properly prepared in accordance wlth United Kingdom Generally Accepted Accountlng Practice; and have been prepared In accordance with the requirements of the Companies Act 2006. Basls for oplnlon We condurted our audit In accordance wlth Internatlonal Standards on Auditlng (UK) (ISAS (UK)) and applicable law. Our responsiblllties under those standards are further descrlbed In the Auditors, respon5ibllltles for the audit of the financlal statements section of our report. We are independent of the charitable company In accordance wlth the ethlcal requlrements that are relevant to our audit of the financlal statements in the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responsibilities In accordance with these requirements. We believe that the audlt evldence we have obtalned Is sufficlent and appropriate to provide a basls for our oplnlon. Concluslons relatlng to going concern In audltlng the financial Statements, we have conduded that the twstees, use of the going conrn basis of accountlng In the preparatlon of the flnanclal statements Is appropriate. Based on the work we have performed, we have not identlfled any materlal uncertalntles relatlng to events or condltlons that, indlvldually or collectSvelyi may cast signlflcant doubt on the charitable companvs ablllty to contlnue as a golng concern for a period of at least twelve months from when the flnanctal statements are authorised for issue. Our responsibilltles and the responsibllltSes of the trustees wlth respect to 9olng concern are descrlbed In the relevant sectlons of thls report. Other Informatlon The trustees are responsible for the other Informatlon. The other Informatlon comprises the Information Induded In the Annual Report, other than the flnancial ststements and our Report of the Independent Audltors thereon. Our opinlon on the flnancial statements does not cover the other Informatlon and, except to the extent otherwlse explicitly stated in our report, we do not express any form of assuran concluslon thereon. In connertlon wlth our audit of the flnanclal statements, our restM)nslbllity Is to read the other informatlon and, In dolng so, conslder whether the other Informatlon is materlally Incon5iStent with the financial statements or Dur knowledge obtalned In the audit or otherwlse appears to be materially misstated. If we Identlfy such material inconslstencies or apparent material mlsstatements, we are requlred to determine whether thls gives rlse to a materlal misstatement in the rinanclal statements themselves. If, based on the work we have performed, we conclude that there Is a materlal mlsstatement of thls other Informatlon, we are required to report that facL We have nothlng to report In thls regard. Opinlons on other matters prescribed by the Companles Act 2006 In our oplnlon, 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 whlch the financlal statements are preparedls cornslstent with the financlal statements,. and the Report of the Trustees has been prepared In accordance with applicable legal requlrements. Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE EXEMPLAR TRUST Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charitable company and its envlronment obtained in the course of the audit, we have not identified materlal mlsstatements in the Report of the Trustees. We have nothing to rewrt in respect of the followlng matters where the Companles Act 2006 requlres us to report to you 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 financlal statements are not in agreement with the accountlng records and retums. or certaln disclosures of trustees, remuneration specified by law are not made. or we have not retelved all the information and explanations we require for our audit," or the trustees were not entStled to take advantsge of the small companies exemption from the requlrement to prepare a Strateglc Report or in preparing the Report of the Trustees. Responslbllltles of trustees As explained more fully in the Ststement of Trustee5' Responsibllities, the trustees (who are also the dlrectors of the charitable company for the purposes of company law) are responsible for the preparation of the flnancial statements and for being satisfied that they glve a true and foir view, and for such Internal control as the trustees detemilne Is necessary to enable the preparation of financial statements that a free from material misstatement, whether due to fraud or error. In pparIng the flnanclal statements, the trustees are responsible for assesslng the charltable company's abllty to contlnue as a 90ing concern, disclosing* as appllcable, matters related to going conrn and uslng the golng concern basls of accounting unless the trustees elther intend to Ilquldate the charftsble company or to cease operatlons, or have no reallstSc alternative but to do so. Page 5
REPORT OF THE INDEPENDENT AUDrroRS TO THE MEMBERS OF THE EXEMPLAR TRUST Our responslbllltles for the audit of the financial statements Oltr objectives are to obtain reasonable assurance about whether the finantlal statements as a whole a free from materlal misstatement, whether due to fraud or error, and to i55ue a Report of the Independent Auditors that Includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audlt condurted In accordance with ISAS (UK) will always detect a materlal misstatement when it exists. Mlsstatements can arise from fraud or error and are considered material if, indlvldually or in the aggregate, they could reasonably be expected to Influen the economlc decisions of Ur$ tsken on the basls of these financlal ststements. The extent to whlch our procedures are capable of detecting irregularlties, including fraud 15 detailed below: We Identified areas of laws and regulatlons that coutd reasonab be expected to have a material effect on the flnanclal statements from our., general commercial and sector experience; through verbal and written communlcations with those charged wlth governan and other management; and vla Inspection of the company's regulatory and legal correspondence. We dlscussed with those charged with g0Veman and other management the pollcles and prOdureS regardlng compliance wlth laws and regulatlons. We communicated identlfled laws and regulatlons to our team and remained alert to any Indicators of non-compllan throughout the audlt, we also specifically consldered where and how fraud may occur wlthin the company. The potentlal effect of these laws and regulatlons on the flnanclal ststements varles considerably, Flrstlyi the company is subjert to laws and regulatlons that directly affect the financlal statements, Includlng: the company's constitution, relevant financlal reportlng standards; company law and charlty law and we assessed the extent of compliance wlth these laws and regulatlons a5 Part of our prc(edures on the related financlal statement items. Secondly the company is subject to many other laws and regulatlons where the consequences of non-compllance could have a material effect on the amounts or disclosures In the financial statements, for Instan through the imposltlon of flnes and penaltles, or through losses ar15ing from Iltigatlon. We Idenufied the following aa as most Ilkely to have such an affect, belng charity leglslation. Internatlonal Standards on Audlting (UK) (ISAS (UK)) Ilmit the required procedures to Identlfy non-compllance with these laws and regulations, and no procedures over and above those already noted are requlred. These Ilmlted procedures dld not identlfy any actual or suspected non-compllance wlth laws and regulatfons that could have a materlal impact on the flnancial statements. In relatlon to fraud, we Ferformed the followlng speclflc Procedu In addltlon to those already noted: Challenging assumptlons made by management in its slgnlflcant accounting estlmates. Identifylng and testlng journal entrles, In particular any entries posted with unusual nominal ledger account combinatlons, Journal entries credlting cash or any revenue account, ioumal entrles posted by senlor management. Performlng analY(ical ProdureS to identify unexpected movements In account balan5 whlch may be indicatlve of fraud; Ensurlng that testing undertaken on both the Statement of Finandal Actlvltles and the Balan Sheet includes a number of Items selected on a random basis. These procedures dld not Identify any actual or suspected fraudulent irregularlty that could have a materlal Impact on the financial statements. Owing to the Inherent Ilmitstions of an audit, there is an unavoldable rlsk that we may not have detected some materlal misstatements In the flnanclal ststements, even though we have properly planned and performed our audit In accordan wlth International Stsndards on Auditing (UK)(ISAs (UK)). For example, the further removed non-compliance with laws and regulatlons Is from the events and transactions refiected in the financial statements, the le55 Ilkely the procedures that we are required to undertake would identify It. In addition, as with any audit, there remains a high risk of non-detectlon of irregularities, as these mlght involve collusion, forgeryi intentional omissions, misrepresentation, or the override of intemal controls. We are not responslble for preventing non-compliance wlth laws and regulations or fraud, and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud. A further descriptlon of our responsibilitres for the audit of the financlal statements is tocated on the Flnancial Reportlng Council's webslte at www,frc.org,uklauditorsresponsibilities. This description forms part of our Report of the Independent Audltors. Page 6
REPORT OF THE INDEPENDENT AUDrfoRS TO THE MEMBERS OF TH E EXEMPLAR TRUST Use of our report This report is made solely to the charltsble companvs member5, as a bodyi In accordan with Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are QuIred 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 charitsble company and the charitable companvs members as a bodyi for our audit worK for this report, or for the opinion5 we have formed. Aryeh Melinek (Senior Ststutory Audltor) for and on behalf of Melinek Flne LLP Chartered Accountants Statutory Auditors Flrst Floor, Winston House 349 Regents Park Road London N3 IDH Page 7
THE EXEMPLAR TRusr STATEMENT OF FINANCIAL AcllviTIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2024 2024 Unrestrlcted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donatlons and legacies 1,042 Investment income 266,311 281,313 Total 267,353 281,313 EXPENDITURE ON Ralslng funds 72,878 77,767 Charltable actlvitles Charitable activities 51,203 41,830 Totsl 124,081 119,597 Net galns on Investments 238,309 7,112 NEf INCOME 381,581 168,828 RECONCILIATION OF FUNDS Total funds brought forward 4,665,314 4,496,486 TOTAL FUNDS CARRIED FORWARD 5,046,895 4,665,314 The notes fonn part of these financial statements Page 8
THE EXEMPLAR TRUST (REGISTERED NUMBER: 06067602) BALANCE SHEET 31 JANUARY 2024 2024 Unrestrlcted fund 2023 Total funds Notes FIXED ASSETS Investments Investments Investment property li 12 12,501 4,260,080 12,501 4,021,771 4,272,581 4,034,272 CURRENT ASSETS Debtor5 Cash at bank 13 213,916 589,924 236,592 422,230 803,840 658,822 CREDITORS Amounts falling due wlthln one year 14 (29,526) (27,780) NET CURRENT ASSETS 774,314 631,042 TOTAL ASSETS LESS CURRENT LIABILITIES 5,046,895 4,665,314 NET ASSETS 5,046,895 4,665,314 FUNDS Unrestrlcted funds 15 4,808,586 4,665,314 TOTAL FUNDS 4,808,586 4,665,314 These flnancial statements have been prepared In accordance wlth the provlslons appllcable to charltable companles subject to the small companles reglme. al ststements were approved by the Board of Trustees and authorlsed for Issue and were slgned on its behalf by: The finan on N Teltelbaum - Trustee The notes fo part of these financial statements Page 9
THE EXEMPLAR TRusr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES Basis of preparlng the financlal statements The flnancial statements of the charitable company, which 15 a public benefit entity under FRS 102, have been prepared in accordance wlth the Charities SORP (FRS 102) 'Accountlng and Reportlng by Charities.. Statement of Recommended Practice applicable to charlties preparing their accounts in accordance wlth the Financ5al Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financlal Reporting Standard appllcable in the UK and Republic of Ireland, and the Companies Act 2006. The flnanclal statements have been prepared under the historical cost convention, wlth the exptIOn of investments whlch are Induded at market value, as modified by the revaluation of certain assets. Preparatlon of consolldated flnanclal statements The financial statements contaln information about The Exemplar Trust as an Indlvldual company and do not contaln consolldated financlal informatlon as the parent of a group. The charity Is exempt under Sectlon 399(2A) of the Companles Act 2006 from the requirements to prepare consolldated financlal statements. Income All Income is recognlsed in the Ststement of Flnanclal Actlvltles once the charity ha5 entitlement to the thnds, It Is probable that the Income wlll be recelved and the amount can be measured lIably. Expendlture Llabllitles are recognised as expendlture as soon as there Is a legal or constructive obllgation committing the charlty to that expendlture, it is probable that a transfer of economic benefits will be requlred In settlement and the amount of the obllgatlon can be measured reliably. Expenditure is accounted for on an accruals bas15 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attrlbuted to partlcular headlngs they have teen allocated to actlvlties on a basls conslstent wlth the use of resources. Grants offered subject to condltlons which have not been met at the year end date are noted as a commltment but not accrued as expendlture. Tanglble fixed assets Depreclatlon Is provlded at the followlng annual rates In order to wr6te off each asset over Its estimated usefijl life. Flxtures and flttlngs 25% on cost Investment property Investment properties a initially recogni5ed at purchase pr1 plus any directly attributable costs. Subsequentlyi Investment properties are measured at fair value wth any changes to falr value transferred to the Statement of Flnancial Actlvltles. Taxatlon The charity is exempt from corporation tsx on Its charitable activit$. Fund accountlng All funds held are unrestrlcted Income funds. Legal status of the charity The charity is a company limited by guarantee and has no Sha capltal. Llability of each member In the event of wlndlng-up is Ilmlted to £10. Page 10 continued...
THE EXEMPLAR TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLZCIES- continued Flnanclal Instruments The charity only enters Into basic flnanclal Instruments transactions that result in the recognltlon of financlal assets and liabilities like trade ond other debtors and creditors. Flnanclal assets that are measured at C05t and amortlsed cost are assessed at the end of each reportlng period for objective evldence of impalrment. If objective Impairment is found, an impairment loss Is recognised In proflt or loss. Flnanclal assets and liabllltles are offset and the net amount reported in the Balance Sheet when there Is an enforceable rlght to set off the recognised amounts and there is an intention to settle on a net basls or to realise the asset or settle the lIalIty slmultaneously. INVESTMENT INCOME 2024 2023 Rents recelved Interest recelv3ble 255,000 11,311 275,443 5,870 266,311 281,313 RAISING FUNDS Investment management costs 2024 2023 Computer costs Insurance Management charges Propety repalrs Malntenance charges 275 5,609 ,747 52,847 5,400 3,441 10,252 58,108 5,966 72,878 77,767 CHARITABLE AcrivrrIES COSTS Grant fundlng of actfvities (see note Support COSts 5) Totals Charitable actlvlties 28,285 22,918 51,203 Included within support Costs are governance costs In the sum of £12,831 (2023: £6,986). Page 11 continued,..
THE EXEMPLAR TRUST NOTES TO THE FINANCIAL sfATEMENTS - contlnued FOR THE YEAR ENDED 31 JANUARY 2024 GRANTS PAYABLE 2024 2023 Charitable activltles 28,285 24,375 t)onations and grants comprise amounts paid to institutlon5 in accordan with the charftys objects. A donatlon was paid directly fM the charity to the following institutlons: Name of charltable organlzatlon: Achlsomoch Aid Company Ichud Mosdos Gur 26,785 1,500 NET INCOMEI(EXPENDXTURE) Net Incomel(expenditure) Is stated after charglngl(credltlng): 2024 2023 Auditors, remuneratlon Non-audit fees 4,260 4,371 3,600 3,386 TRUSTEES. REMUNERATION AND BENEFrrs There were no tru5tees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. Tru$tse$' expenses There were no trustees, expenses pald for the year ended 31 January 2024 nor for the year ended 31 January 2023. Therefore, there was no key management compensation. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unre5trlcted fund INCOME AND ENDOWMENTS FROM Investment Income 281,313 EXPENDITURE ON Raising funds 77,767 Charltable actlvltles Charltsble activities 41,830 Total 119,597 Net galns on investments 7,112 NET INCOME 168,828 RECONCILIATION OF FUNDS Total funds brought forward 4,496,486 Page 12 continued...
THE EXEMPLAR TRusr NOTES TO THE FINANCJAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JANUARY 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVTTIES - continued Unrestrthd fund TOTAL FUNDS CARRIED FORWARD 4,665,314 EMPLOYEES The average number of employees, excluding trustees, In the year was NIL (2023: NIL). 10. TANGIBLE FIXED ASSETS Flxtures and flttings COST At l February 2023 Dlsposals 17,208 (17,208) At 31 January 2024 DEPRECIATION At l February 2023 Eliminated on dlsposal 17,208 (17,208) At 31 January 2024 NET BOOK VALUE At 31 January 2024 At 31 January 2023 ii. FIXED ASSET INVESTMENTS Shares In group undertaklngs MARKET VALUE At l February 2023 and 31 January 2024 12,501 NET BOOK VALUE At 31 January 2024 12,501 At 31 January 2023 12,501 There were no investment assets outslde the UK. The compan¢5 investments at the balance sheet date in the share catal of companie5 include the followlng: Exemplar Trading Ilmlted Reglstered offlce: Nature of business: Tradlng in properties. Cla55 of share: Ordlnary £1 holding loo Page 13 continued..
THE EXEMPLAR TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024 ii. FIXED ASSET INVESTMENTS - continued Bluetree Property Group Llmlted Registered offi. Nature of business: Trading in properties. Class of share: Ordinary £1 holdlng loo 12. INVESTMENT PROPERTY FAIR VALUE At l February 2023 Revaluation 4,021,771 238,309 At 31 January 2024 4,260,080 NET BOOK VALUE At 31 January 2024 4,260,080 At 31 January 2023 4,021,771 Falr value at 31 January 20241$ represented by.. Valuatlon In 2024 Cost 238,309 4,021,771 4,260,080 If Investment propertles had not been revalued they would have been Included at the followlng hlstorlcal cost: 2024 2023 Cost 4,021,771 4,021,771 Investment propertles were valued on an open market basls on 31 January 2024 by the dlrectors. 13. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade debtor5 Amounts owed by group undertakings Other debtors Prepayments 27,505 171,592 12,834 1,985 32,095 159,848 42,675 1,974 213,916 236,592 Short term debtors are measured at transaction prtce, less any Impalrment. Other debtors are measured at amortised cost. Page 14 continued.,.
THE EXEMPLAR TRUST NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024 14. CREDrroRS: AMOUNTS FALLING DUE WThHIN ONE YEAR 2024 2023 other creditors Accruals and deferred income 22,806 6,720 21,780 6,000 29,526 27,780 Short term creditors are measured at transaction prlce, less any Impairment. Other creditors are measured at amortised cost. 15. MOVEMENT XN FUNDS Net movement in funds At 31.1.24 At 1.2.23 Unyestrlcted funds General fund 4,665,314 381,581 5,046,895 TOTAL FUNDS 4,665,314 381,581 5,046,895 Net movement In funds, included In the above are as follows: Incomlng resources Resources expended Galns and losses Movement In funds Unrestrlcted funds General fund 267,353 (124,081) 238,309 381,581 TOTAL FUNDS 267,353 (124,081) 238,309 381,581 Comparatives for movement In fund$ Net movement in funds At 31.1.23 At 1.2.22 Unrestricted funds General fund 4,496,486 168,828 4,665,314 TOTAL FUNDS 4,496,486 168,828 4,665,314 Comparative net movement In funds, included In the above are as follows: Incoming resources Resources expended Gains and losses Movement n funds Unrestrlcted funds General fund 281,313 (119,597) 7,112 168,828 TOTAL PUNDS 281,313 (119,597) 7,112 168,B28 Page 15 continued...
THE EXEMPLAR TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JANUARY 2024 16. RELATED PARTY DISCLOSURES Included In debtors Is £171,592 (2023: £159,848) due from the subsidlary The Exemplar Trading Ltd. Interest has been charged on the loan at a rate of 20/0 above ba* rate. Interest charged for the year is £11,311 (2023: £5,870) Page 16