THE EXILARCH? FOUNDATION TrUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 THE EXILARCH'S FOUNDATION 8918rn¥ 81*81 10 11 12-28 THE EXURcTrfs FOUNDATION LEGAL AND ADMINISTRATIVE NFORMATION •&trDADw CBE DL IExl¥th) trMAJD trE BVD4ngryx 275919 4 Cakn PkL wIK￿w B￿LA￿l￿ LLP 5 Fb•l Pl•¢* Lo￿￿ft EC4M 7RD 1 Clwhll Plw E14&P 55 frlgh Sbp FaTher& Co LLP e6 UwKx>ln¥ knn Fl•ldi Txnoty Jarn￿ & P￿tr￿ Lfd. 16 St LL*)d SW1Y 6AH QJthAor Fl Sowtor Houso 65 Quoon Vlthrfa Strnt EC4V4AB THE EXILARCH'S FOUNDATION TRUSTEEW REPORT OFTHETRusfEES FOR THE YEAR E14DED 31 DECEIABER 2024 Re[￿r¢ by ch$rtb￿ PT•pl￿rwj Acwunim In 4t¢t4d￿¢$ *1th 1h• Ftwthl R•porfng Staftd￿ ￿￿k¥hI$ In thg UK an¢J Ropth of Irn[￿ IFRS 1(Y2) wbj Fkn•r•*l R•FQtfj￿a Standard In th8 UK end Ropubvac ol If*nd (FRS 1021 and th8 A¢t 2011 UK Ger￿￿￿Ar£4pthd Prnta¥ •B tt ap&kn frtyn 1 J 2019. Rèpots) Reyjlakn 2(K4 onty to th• •thnt MLlr¢d to pthide a tsw and klr Thls dgpviurn In￿¥•d IdltrAtyAtrx)uth9 ar*J bychwltbs pryrtNJ ￿#CO)Unt0 In aco)rdkn•fhlth tr* FIMnt4al R•wrlng appl￿￿0 In thb UK and of Itdand IFRS 1tr2> rthr th•n thè A¢a￿9 and Rep￿Ing by Tho Charfty wa8 •atAblWJ by 8 Tru8t D*•J d8W 2 Awll Iwrn. Its r•O•tw•d C*￿ 275919 prkncw Offi￿ IB at4 Cth PLgc4 Lonth W1K 3AW. AlrnB l￿d (hrmy h ￿tabl81*d Io w ou¢ rw, kn any wt oftho YA*dd, withlr•tr*1og81 m8anlng tll C**lty li ItsTvAJt Dwddatsd 2*•1197& apw)h#rnont of or FbJttkn&l truat￿8 the (knlce of [8 vosted 9X(￿B1¥￿Y In thè E¥Jarth. DA DryrKrCBE DL forrnd pondo81w￿ *knpt•dtrlh• byluthn awKI tr41￿ oftru6ts9& Th• duikngtrk• y•8r¥NJ w to Ih dkt• dthli Yeptyl￿rn ￿1011￿. MrDA D8r#wCBE DL MrMAJ Oaroc ￿rE8V￿c￿)r THE EXILARCH'S FOUNDATION TrU8TEE8' REPORT OF THE TRusfEES (CONTINUED) POR THE YEAR ENDED 31 DECEMBER 2024 tntytOe8 •r• Iwdl rnn¥*npnl ard 0￿1 of th• • •nd Mo￿ I•9￿￿Y Tho In¥88trmth 0%n￿tte6 (Lmlgdng of DA Dwbgoor CBE CL WKI MAJ. th• tharf Publlc Th• Ub¥lll•• *£t 2011 r4wlrn8 all c￿tI0 lo mo8t lh8 J•gal rw4uk•m*)t Ihat r4 th8 fty tho publ* b•r￿fIL Thg Chaw C4nm*8kn)1Th118 and W¢ B•nofflt kwld¥rrf¥ •fotsB Ihat therg are 1wo to b• In t)rd8r b Ih&t Bn organ18th￿ alm8 fty thg publlc ben￿ klgnlf•bl• bgntht or bwèffl8 WKI zeccrf¥Jty, that m&*t bo to tho or A 8*#lon of PL&ll¢. tru¥t¢¢• Id•r ihat ha¥a aThplBd vAlh S•cakn 17 Dflh• Ch•lOw Ad 2011 Irthdtr& th8 ￿￿11￿c• bpneri.. • thrtty (PB21". rna¥Jm￿￿ puL41c L￿fiL Tr I￿Or￿S rn0￿ *nhlrantad¥ty 2024 been ht gmt mddrty. ChBrfty8 Fdtcy15 tosuppart d￿rItable In11￿1¥08 that 81kn vAth Its n4$5kn. vatyJDB. •vJ Lx¥rffimmty￿lb, Mojor grants riT¥J Ihg ￿r. totsl grants of £7.2￿ {2023.' £5.5ml were made. Th• largèst were oonts m8d8 to MIMI (£2rn*, UCLH Charity1£1.2ml and chels￿ & IWeBtrnknsleT Health Chartty (£1m). Further detall$ ofgyants can be found In note 6 to tho acthunt6. Grnnt8 for #du￿Onal fn8tknt1￿￿. FundiNJ lored￿tIr￿al in5titul¥)ns t1￿ UK has been Continwd thr￿9￿>)1 2024 And 202& ThLg has Includ￿ ￿gOIng 8UtfKJrt to Westminsler Ac*Yemy whare lh8 ￿adeMiC rwjms ￿fv¥ed have ieffoined npr8sslw, al d￿n￿thIed by an Otst¢d In¥pect￿n li a￿0b•r 2023 kn whkh th• Ac*demy acliewd a ot od wfth an outst&￿Ing. Sixth Fomi.. Thg trustses (Thtlnue to &XF4rye ways to lake fLvw8rd lh8 reL¥Yrrtw￿athjns contslned ¢onwnls￿0n0d inly with Birkb8L* Colg99 on thg feasibility of crbalJNJ an Institute for ethral mrmclhelsm whtch ￿111 indud¢ aCti￿kn ol r•S￿reh. i•ath¥¥ and publltatKm, 8rn1 FWaL*Gal vhth soual p￿E1C othlcal Iswes. THE EXILARCH'8 FOUNDATION TRUSTEES REpoKf OF THE TRUSTEE8 (coKnNUED) FOR THE YEAR ENDED 31 DECElfBER 2024 Sjngddo Ihg Ct*rftrfg grantryMa￿ Irurteos b kw> Ihwr kntrlomi 81ghl8 on th• rM8tAbl￿hlrn￿ of 8 (*)rMiunty kn *aq thru¥h tho of •dUrAb)n￿ irthjlijx. lh• •wty tra4 wffirknty ￿le1t1$d k)r * lo be Irypgsth for Io ro8•lllp in s￿¥￿ant nurnbere In Iraq thorots0 knPO￿ tur th• to land ardry btylrn (￿$11￿1￿ on w¢J•* In Iraq. CarwiW. th• bi*t•&8 to athev• INS alm Its to spyr*Ytate I•￿IS af I￿r¥82 YknV4t d￿bP11￿ts In lrnq tho osd#AnCb cl • of Ihrujthout #• MKU• EW oftha foThw ￿mmunIty ol lrnql and ar4d￿l￿ V•vrfth5dg. aTwJ publi¢ bylh• Chailyfrom this furvj nlgfrrt piBlbJo. Thè ChaFIty held A ¢J*Mtsd fund of£10 mlUrm120rJ.' £10 11Ikn) trth• olabth¥ tho of edu¢xkno1 and r•lWDUB InsWJJtlw In aluwro r*•*tabl•frod J8K4oh (£•)wNntyln lrnq. Th• IruBto•0 r*. IIw61w Jewhh ¢i¥mwt1•81Th l•raBI. th• USAWKI •J6•*thern foprdthg ¢Mimunlty In Bftghdad,. In Ira4. many olwhth rd•t• to th• fa￿ the JwAih kn Iraq tr• 8Th1 Pl&rffj fvrfutur• perlods The trust•88 res¢Aved Ihal wh118t thoy M)uld ¢(￿tinue to COnBlder otherap￿1¢ati￿8 for fvf¥JirpJ tothe Ctty. they w5hpd to wnknue tts aédr856 the follry•ArvJ are?¥ overtr* corntng yw¥. Ths ￿te85 antldpate c%ntinuiThJ thelr Supporf of Ihe Westm￿￿1erACadernY, the Charfty Is tha Sp¢xL5tJF, and Mr Domd Dongg¢Y CBE DL 1$ also a tru5t8e. amourllng lo £122,250 12023: £196,888) awardod to W96tmth*A¢40emy during thè y•ar. The Iru5tee$ wlll 1X￿tinUe to eypkne vthether the Clwrity8 funds ry￿ght bEnetriply bE used to SUPPL¥i the establishment ol o rw uw4wNy In partiryjlar the scope for tho Charty tr) allDLate addrtk)Thd fvnd¥ for this project 80 as to make a n￿￿r￿lu1 t*ntrlwlk)n totr￿ estlmatsd £50 mS11kn co$18 The trus￿9 have resofved to ratain the futwj des(qnatgd for In [wst￿lL%￿￿tt of a c£thNnNy In Ir8q throuDI the sethng up of educa110Th91 a￿1 relig1c￿ They ￿Vi￿W IhB level Lrf fvrnJs deslgnatsd lor thts IBwle proled ar￿U￿1Y. 8NI 85 Psrt of Ihe Charftls oiywkng monknNJ of Ihe sitwti (nsiderwlEIFw owu[￿e￿ retention ofthefurwjs raV￿ainS approwla*. Nts r￿￿[led pre¥l¢yts￿, Ihe tTUStee8 tollev8 thal rf b tr) th8 thantsge of1h¢ Charrty to eontknL￿ to BLxunyJ181e Ilwo funds kn order lh* Charity may LmdÈrtAk8 the larpscale pmlects that wll be requtrad the JÈwl8h roturns lo Iraq. THE EXILARCH'S FOUNDATION TRUSTEES. REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal r•vl•w Prlncipal sources of ineomg During 2024 the Charity recèivèd investment income and interest of £7.9m12023.. £8.2ml. The majority of this took the fom of rental Inco￿ from C￿MerCIal properbe8. Prlnelpal rf¥k8 and uncertalntles The trustees have given consideration to thè p￿ncIpal rfsks and une*rtatnties to which the Charlty is exposed. The Charity holds 8 8ignrficanl investment prop¢ty portfolio and any Substantial de¢rea5e in property values or a substanl'al reductmin in the ratio of tenanted propertles to va¢anl ones would impact the Charity. The trustees monitor the Impact of these risk5 and have concluded that there are suffiaent reserves within the Charity to 8¢ccffjmodate these. Re8¢rvgB Pollcy Th8 trustees are continulng to d¢vElop and refine Ihe charity's reserves policy, taking into ￿)Unt both long tami and short lem projects, and monitor reserves on an ongoing bas15. The charity now hold8 an endowTnent fijnd of£54.Om12023.' £51.7ml and, of thè other funds (t holjs. £10m remain5 designated for the Spe￿f￿ purpose of as51Sting the selting up of educational and religigus WlStitutp)n$ in a future re- estsblished Jewish ¢ommunity in Iraq. For other designated funds see note 17. At the balance sheet date free reselves anKJunted lo £22.8rn12023'. £18.6ml. Due to the long tem nature of its grants, h Ss the Charfty's pollw to r&tsin reserves of a minimum of five years total expendllure excluding 9r8nts. Al Ihe balance sheet date, the charfty hod n¢1 current a55ets of £1.9m (2023.. £1.3m}. Investment Pollcy, Perfo￿an¢• and Obl•etlv•8 The Charitys policy is lo invest primarity in ￿al eslale an¢J donallons have been ￿ceiVed on that basis. The trustees maka 8￿ry endÈavour to ensure thal these investrnents remain secure both in the medium and k)ng le wilh a focus on income 9rowth. The Charity is also exploring some non-prop&rty Investment$. 11 is the Ch81ity's policy io consider the soclal, environtnentsl and ethical irnpact of al investments. The Chaiity'8 investrnent properties wera indepondèntty rèva￿È￿ at the balance sheet date. The resultant vnrealised gain In thè yèar of £3.8m12023.' losses £6.1ml are cons1d¢￿d lo tnitror the currenl market conditsons of the propety sector in thè UK. However, the charity's iricome Is largely prote¢ted from Ihe impact of short-lemi markel fluctuaticffis due lo the ¢ontinuity of ils exisb'ng tenants, with their leases not du8 to exp￿ for sèveral yÈars. Auditor The audrtor BKLA￿lI1 LLP will be proposed for roappolntmenl for the year ending 31 December 2025. THE EXILARCH'S FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 stst¢mont of Tru•tee¥' Re8ponsibillt5•s The trustee$ are re8POll5ible for preparfng the Trustees, Report and the financral ststements in accordan￿ with applKabJe law and Unlts¢J Kingdom Accounting Standards {Untted Kingdom Ge￿rallY kneptsd Accounting Practice). ThÈ law applicable lo charrties kn England and K&le$ ￿qui￿S the truslees to p￿pare financial stalEmen15 fDf eath financi21 year which give x true and fair view of the state of affairs of the charity and of the incoming resources and appllcatlon of resour¢es of Ihg charity for that perlod. In PTepaiiTrJ these financial 8tslements, the tW8tee5 are required to: Select sultable accounling policies and then Apply them consistenlty.. observe the methods and prindples In the Charities SORP., makè Judgmènts and estimates that are reasonable and prudent., state whether applicable awunting 8tandard8 have been follt)wed. su*ci to any material departures disclosed and explained in the financial statements,. and prepare the finanoal state￿￿nts on the golng concem basls unless It Is Inappropriate to presume that the harfty wdl continue in business. The trustees are responsibk for keeping proper accounting recorils that disclose wlh reasonable accuracy al any lime the financ￿1 positson of the eharty 8nd ènable thèm to ensur• Ihat the financla1 st8tÈmènts comply with the Charities Act 2011, the Charity IA¢¢ounl$ and R¢port$l Regulallon$ 2008 and th? provi$lons of th& trust deed. They arè also responsible for safeguarding the assets of the charty and hence for taklng reasonable steps for tho p￿ventIOn and d￿e￿￿)n offraud and other irregularitte5. Statsment of d18closure to audltor So far as each person who was a trusteè at thè dale of approving thls r8POrt is awarè, thèrè 1$ no re￿Vant audrt fowwnation of which the charity's auditor is ￿aWare. Additionalty, the trustees indwidualy have tsken all tha necèssary stsps that they ought to have taken as trustees Sn order to make themselves aware of retevonl aud fomiation and lo èstablish 1hat the charity's audiior is aware of that infor￿atIon. Approval Thls report was approved by the trustees on 6 June 2025 and slyned on their behalf. MrDA Dango¢r THE EXILARCH'S FQUNDATK>N INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF THE EXILARCH? FOUNDATION l¥nlon h)pin tho JtslanvJnt of fin￿(X•1 Hcbvfde& the baknce 8heet, tho atat•m•nt of eaah Ilo** •rKI to tho Itrnnd81 tst•m￿ts, IrK*KliThJ 8lgrtffKgnt a¢¢0￿￿$ Wld•*. Th• ffiywndal r8portlNJ framwth Ilwt h88 bogn apyll•d In PTeFarntkn 19 app1k•￿e 18w laryd￿n AttountrKJ Stsndarth. In￿d￿9 Fts￿￿1 Rar￿￿￿9 Starwjard 1tr2 Tl* RoF*JrMrg Standard orfdkaN• kn tho UK and R•pL*k of trelaTrl Ilthtted Inow OFthbr4 th• fin8ntxl *ternw> a IN• aml vlwN d th& 8tsta of tha aff8lr8 Q• at 31 2024 and ￿ Its knt￿l￿g boan kn 8caxthrKo 7A•h thg rnquliBmDnts ofth• ￿8th•ACt 2011. Bulskn •plnloR Ylo Ltmducted OLf auolt In aCcud￿ wray Intsmth)pl Stsnd8rd• on Awlnk¥J (UK) tISA* ILK)) gnd 8Ol¢ablo tr* st416n￿ts SBdk)n ofow r4)orL Wa ol Fow*lalkn In o(¥A>Yd8nfA vhlh th• ￿4￿reMents trot ￿ rnkvant to wr wlll of Ihe flrondal 8t8t&m8nts In UK Indudlng thè FRtrs thot Ihe audtt •thn(4 wo otrAaSnod M ￿ffi￿Onl￿nd 8ply￿al* b prov4Jo a babl$ tr¢ur opjnt In 8u(IUw tlk• wg ¢4mdudad that tha ￿ ug• of Ih? ccfflown I￿[$ ul BBs6d on lh• WO￿ wo pgrfornw. we ha¥• not Idenffi*J wry mowlal ￿rtaIn0&S rltsthw to C* r￿1￿¢￿• thaL and￿￿￿llY or ¢YJl&#w, limy cabl dgnthnt dtyjbt on Th? E¥Jk8rth* Frwnd*sn's to (¥¥thw as • wlng conf*m ft* a P•r￿)￿ d at knA8t m¢]nlhs th• OIMr Infom*Uon Th• Infcrfnth cry106J tho lrfomieucffl Inc1￿10d In th• •nnu81 other th& Ilai•FMnts •KI audlb)ffs thoraon. Th Trustegs aro for tho clmr Infr*mtim r￿tth•d T*Athln th• annual r*L Ouropln*Jn Lnth8 firs8ndal Alatsrrwts d088 nDt ryJverth8 0th8r InforrrHWon arxl wg (b nL*exF¥B58 fcffn (l aB6Uran￿ Cly)d￿ thgretsn. Our io rnod th• othor Inlcthainn and, b) dohg 4 fth¥lrfor Ihe 01hr Irthnthi 1$ rnthially Inconsl6tsnl wllh our kThy•Aodg• otrtaSn•d In tho C￿￿8• ofth• w*. aFfJOW8 nisstat8d Ifwè kJ•It￿Y auch mBtsrfal Incon61stsnL croppr•nl rn*Arlal rnls&at•manl8, tg d0twrn1￿ v*thllM$ 9ivts rlse kna ￿￿*Fi&l I￿•￿al•m8￿1 finenchl st8t•msnts I￿￿101¥08. 11. lJas8d OTr tho we4k w• p•rfomrf w (¥nCl￿ tW Lkn Is ¥ Plthr• wN•h w• ar• rnqulr•d to Y•lYAt ty•xo#plkn Wo ha¥• Th)thlni to rewt In raBP•Ct d fol￿ty m*l•rs k) *thl¢h c￿10$ (A&￿nts •YJ R•portB) ReguL￿on5 2C¢8 r•qthro u8 to r•FQrtto ￿ Ir. kn ow0ph￿ KrfL￿nakn In the io Inc¢n8ltsnt in any mderki re8pwI tAlth lh8 Irtm w¢port or havè ntst recthed all thE Irrf0rn￿U0n and explanatbns wè r￿ul1È for our SudlL THE EXILARCH'S FOUNDATION INDEPENDENT AUDrroR'S REPORT (COPMNUED) TO THE TRUSTEES OF THE FXILARCH'8 FOUNDATION ra{k￿ af th8 OnwK*al gtatOTMnts Wng I*1￿￿￿ Ih81 glve a trug sffld lak th. And tr suth Iffj•rn14￿nty￿1 48 tha Tn*1￿8 neC6￿ry to tho pre• of blat Ar• arn r•BrttAtl• for Tho F￿rmIa￿an.8 to 9$ a g* c4Jnc*m, ill￿1￿9, Audl1ttV•rn•pDn￿hHlll•¥ ft*th• •udtt dlh• fln•ndil •t•tsm Wo h8¥• iwn ap[<*&￿ as WKJ8r 88thon 144 01 th9 Ghgylu9•￿ 2D11 arLd r*w•l kn *¢wdart• thb R6aBrmbb 8Buanr* Ix a 14gh1gvd af asBwarv birt18 not i g￿r￿n1•9 •udtt condLA*od In acL¥xdgn *rfth IUKJ ¥%lll d•toct a mat8rlal •xLqts. Prtgstate￿ ¢gn Arf88 from frwd or •norand N•t¢rW W, trthfjdualty or th th• agoregth hoy loknfi ofuvors lthn onlhg b* ofth999 flnancial 8tatampTrts, knraudkng fra￿j, wo *￿tanCeS of ncTrtsTh￿1anPjI I&w8 rwjatbrrt IV• d•*n procathrn8 In C•p•Wltty •wllt kn dgt•¢Urf *r•oulavlll••. Includng frawl our uTrthrntanthng of thirlty and s•thr, ￿ klwthw that the rAk• (I r Jmpltsrts ￿1th And rwlÉVon• ml818d lo tho fokkjra to tonytywllh wAoloM, iyJn8ldw•dth• &xient to whk* ftlght h8vo a materknl on tho fIr￿ra￿ $18lemrt. Wo 4180 EansldÈr8d tho 1kn¥s 8nd Trwlatbr* that havo a dkora Impart on the prnpw•kn of knndal 8lalwngnts Buth asthg Cknrfll•s (knnts afkl Rewtsl R£gulalon$ 2CI)8 Acl 2011. Wo wduat•J man￿#mants ￿r￿￿¥￿S ond OFoOrkn￿oI ftt IrnLKthAwrt manlpukntltsn dtho fmndat glalmnts OndththrvJ tho rf6k ol O￿Tr￿je (Jf oftho chgJWi pxyty ￿ In¥•thiani W￿10.. and . ￿l￿￿ng *idt88lng maNMIJryThl In pwi6dM•h urthr rthl•, (* IL *1￿. tho risk ml8gtatsment duoto hud19 hb2hgrthan A furthw d8so*tyJn of our 18 aval￿• on th8 Fknancw R•F￿thU Coun(a'b w•t•*• at I￿J1 w*.froorg.ukl4ts&rtwm8pordblllUa6. Thls d8g>lplkn forn* wt ofow aud11￿6 r• Your att8ntlon16 drawn ¢0 fad lh* thg r*stlty has prepared financlHI Stater￿t3 in aetsyd&nc£ whh'Acc)urthg and Reporlng by Ch8Fitlgs.' St*rnent of R￿MMènded Pradllx awkablo to clKqrfti88 prep8rfn9 Iheir In accordance wllh the Rnond81 Reportin9 Stsndord aFplicat4e kn thg UK and RÈpubllc of Ir¢lar￿ IFRS 1021" las amen¢Jedl In pr8ferÈnrA to th&Ar￿￿tIng and Reptsrtlng by Charfues". StateD￿l of Rec4nurtnded PractEc4 Isg*d on 1 Awll 2CK6 ¥thiL* is raforrad to In tha axt￿t regula¥￿ has n¢)w been ￿ra￿. Thls ha8 done In ttrdèr for ts finarml slatemgrts to pro¥￿e a true and felr vknw In 4wxd8ncg ￿ Cu￿en1 G•nèr8lly knptsdAcc0Unlw￿ Pratiteè. THE EXILARcTrf8 FOUNDATION INDEPENDENT AUDITOR'S REPORT (coKllNUED) TO THE TRU8TEE8 OF TILE EXILARCH'8 FOUNDATION matters rwparwl t4 11ote to Ihom In an authbjts re￿rt￿ tw no other p￿p￿. To fvwoet oxtont knd by law. ntst accept ¢y rWlty to ¢tr*r ￿%1 d*rt(rf• o ￿. fLY our wJdKwwK iN8 FWL or forts hvrtfom)8tt. JLO LLP BKLAudt LLP 8tstutory1￿dI￿tr 5 Fl•at Plw¢ BKL Audl LLP is ¥JpDlthient 8$ oudits of The ExilarthS Fou￿Jat￿ ty vtrlua ol alw￿lty for appdnlmgnl as a￿dMor gfa c(¥)wany tsnd•r8oc¢ion 1212 Of￿ coM￿nI0$A¢t 2006. THE EXILARCH'S FOUNDATION STATEMENT OF FINAP4CIAL ACTMTIES FOR THE YEAR ENDED 31 DECAIBER 2024 Tgt•l nds ond Intsre 7181,606 8.163,789 8.153,rn R818lrKJ 7S1.fA13 761.Cl)3 385.991 Chorilabl• 5,n7A42 5.nTA42 7A5148 6,123A33 6.14433 3.816m lY)1.180 8.117.742 (1.97T.630} 13.741.764) 15.71lWI Il•t l￿dI 4.145,￿ IS)1.180 6.448.878 62.728 (3.741.7M) 13.689.038) Fund tr*lanw¥t 1 JaTrJary 2024 36.894.518 61,W783 88N3.341 36.841M52 66.440M7 92282.3Tg Fund bAlwK•• a131 D•c•wl>•r2024 41.1)4027e 51999,943 951140319 a6,￿￿& S1,e98.763 88A93,341 The slatomartofffinaffAd hKludes 811 galns lts&>aa raerwlÈèd th8 ￿. All knca)mè and èxpondKu from c4Jntinuiw athMI•s. THE EXILARCH'S FOUNDATION BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Note8 Flxed assèts Investmenl propety Investments 10 11 86.690,500 12,345,611 84,911,000 9,250,620 101,036.111 94.161,620 Curr•nt assets Dèblors Cash at bank and in hand 13 1,078,454 6,808,076 534,750 7.412.S53 7.886,530 7,947,303 c￿dItors- amounts falllng due wlthln on• year 14 15,999.1111 16.670.794) Net currnnt aasets 1.887.419 1,276,509 Totsl assets 1•58 currnnt liabilit1•¥ 102,923,530 95.438,129 Cr•dltorn: arnounts falllng due after mor• than y•ar 15 17,883,311) 16.8H,7881 Net a$¥ets 95,040,219 88,593,341 Capltsl funds Expendable endowment funds 16 53,999,943 51,698,763 Incom• lund# nrégtricted funds Designated General unr¢stsicted funds 17 18 18,250,000 22.790.276 18,250,000 18,644,578 41,040,276 36,894,578 95,040,219 88,593,341 The financial slal&menls were approved by the board of Trustees on 6 June 2025 and slgned on their behalf by.. MrDA Dangoor Trust•• 10- THE EXILARCH'S FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes ¢aBh fFows from op•ratlng aetlvltl•8 Cash AbSO￿d by operations 17.897.705} 13.256.825) Imie8tlng actlvltl Pur¢ha$e of investment pr¢)perty Proceeds from disposal of investment woperty Proceeds from disposal of sub8kli8riè$ Purchase of olhtrr inveslrnents Pioceeds fiom dlsposal of other Inveslm*nls Investsnent Sncome ￿¢*we￿ 14,893,4551 2,636,508 14.072,7741 2.946.313 8,419,687 13.427,5681 666,105 8,281,357 Net ¢ash g•nerated from Imie8ting actlvltSe¥ 7.293.227 3.2V2.947 Net IdecreaseVlncrea8e In cash and ¢•$h •qulvalents (604,4771 6.122 Cash and cash Equ￿¥￿nts at beginning of year 7,412,553 7,4C6,431 Cash and cash •qulval•nts at end of y•ar 6,808,076 7,412.553 11 THE EXILARCHE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EAIDED 31 DECE41BER X124 Chirfty Th• Ex41qrch* F￿nde￿Ort lo an unirK¥>r•O ¢*rfty by a Tnjgl D••d is wilh th Charity Conwnlo8kn for &wland and IhWBs. Tho 4¢*Jrets of the r•*tsr•d offl(*18 4 carf￿ Pla¢>. Kla￿1r, Lorth, WIK 3AW. 1.1 AGqgwthg pollc Tho ac¢oun6r¥ pDYo•ts rthpled. luthJ•mwts kty af •dwlkJn In th& PY•P8ralon ofth• firth[￿ arè A¥ foknA' 12 B*•l• of•cgouTrts and au•Mm•ThtafiitylrwJ oonG•rn Thè st*￿￿nIS ha￿ bpen In ¥Ath tr* Slolw7Wrtof Re¢c¥nmrthd PraeOe•: Accosmung Raprthg by CPaU85 prEpartng Ihdr accwrts In wcoydwe• wtth ts Firw¢i91 R•FQrthYJ Stsrthyd Applrabkn In thg UK ￿ Rapublk of Ir8kr#J IFRS 1￿1) and tho ￿n￿nd81 R•t•)rt1ry Standard aF$4kAW• In th• UK and R•pth of I1￿and IFRS 102) *ndth•Cknkn•¥Ad2011 and UKG￿￿￿1lY pt•d Pradko ￿ 6tappligBfrom 1 j￿U￿ry 2019. The hav• b••n lo ulvo a Ymo and ¥low dyrt•d frtth th ch•Its￿ (AcrvJnts￿ Rom) Ry1thn82(#)8￿tY &>ll* e¥lwrt wulT•d to and hlr vi**. Thls Wrtur• klknbirpJ'ArmunlnB R•por*¥ by Ctarfux 818tThnt of R•prAting Skndard Applrabb kn Iho UKwJ Rytllc oflreland (FRS 1021,. rntrAr kn thoAminiknJ•xl rè al hlslothl colt OT ￿Je ￿11980th•￿￿ ￿t*d In Ihe r¢Jwant •¢¢osJnUn9 Folkry noi•8. Tho frnndAI 8t•twn*ts ar6 pr•paroJ kn 8knrf1￿. and IDU￿￿￿ to th•n•w•o1 p￿. 1J Gokn9 ¢onc•m Th• f£41￿1￿￿ fiJnd8 arn tyth6C**.- tho ottsts. Lknrestr**od lundB IrKau(kn thIBlgrth furAIB tru¥ta8¥. 41 th•tr dlK7BIkn. vè r￿l*j afund kra sp&dfic WJW. Evndablo End¢xTrwrt. the¥• ore c4pItsI wNth ￿ orty be ¢on*rtod In*J expetthbkn al the ¢I2¢TeUon oftho E¥d•rdK P•*•J arKI unrn•IL￿9￿Th% t¢*soJ on arealbEthd tr*tsapproprfal• fwKI b•b•d is rgLwnlsed the cPwrfty h•s enllllement to Ihe funds, any p8rfomwnt* (x)ThJitlDns to the tteml91 of IncoN bèen mel, l is prt)botAe thal ts wwrng vhll bg rec¢￿ed and the amounl can be measure¢J relkbly. 12- THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAI8ER 2024 dalo. In th• 8w>t Lwa •ubloc*to *3[ gr8nl is rer4Al8Éd al r￿artI valua vthero 58tU*x•nt is th• mor• than yw from the date ofthe award. th8r• awtr Ao unfvffilled ￿rf0mlanca c¥)nditi￿ under the c4mtrcA of Ihe Trust that v￿￿14 wmlt Ihts TNst tts aVts￿ makino the fU￿are payrr*nilsl. setvernent ts PTOtqblg Ihg effect of d1scouit￿ i8 materiJ. The ratè used l& thè aYèrx9è r•tum in th8 yaar In tha pr￿ aw&rd 1$ m&d8. TNS dlsewnt Mt• Is r8gardad by th8 trustees as woviding thè mst ayalKqbh •sUmBt• of I opmnty ¢))gtof refiethng the Urngvak* of mc)rw ioth• ChBrfty. J eynditure Is fur Dn an aLxxu8IA b8618. Irrec￿Tab￿ VAT ￿ thaT￿d 8gair*t th8 •xFéndllurè h8adlng forwNth Itwas inwrrod. 18- THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CQNTIWED) FOR THE YEAR ENDED 31 DECEVBER 2024 1.7 AJloeaUoTh d •upp?rt goY•rnanc• f%>mprt8e dl costs kWc￿n￿ th• p￿￿¢ 8CCDLmtsblliy (* 1hg &nd ils comrllanc* wlh règulaknn Ilnnots7. L•M Ront•k payabb widw haudhvj ￿Y*&8• rnL¥W arn rtwgid lo • *•lght Iln8 bask ovw Iwm of Ihe laAse exc*pt where 18 mc rgprnsentAIv8 Lrfth• p*brn Irt￿1￿ 4¢0IK4￿C t4nefft8from ts iweawt 8K• w)surrnd. 1* For•lgn Mtsnetary assets and labllhk5 tsnornin*ed in foreign ¢urrenc•o6 translatod knto stadlng al tha ratss of ax¢h8w ruliny at the b￿an￿ thgt datg. Transathns In ujrrencles are recorded at the F￿8valling exetrB￿ rate at the of Ihe transac11￿. Exd*rrfJo drffgronc45 laken to Ihe StAtament of Hn8rKlal 14- THE EXILARCWS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (cop¥llNUED> F¢%P THE YEAR ENDED 31 DECEIJBER 2024 Valuafjon alf8lrV￿Uol$ mdg on an op8n m&knl value ta•lJ by Trfor•nce ol tranwthi Cmlv hwothenlv wg knltsly moaBur•d at and at f* ¥8lu• al dgts. Wh8rn 1888 kTyalnrnnL Ro•W and unreall8ed gabm and ats 8$ any lMpdnnw￿, g k•Be¥ on IMe1m￿ In the Stat￿￿ of Net yknfy ￿ IAher IrNo6kn8nts r•￿￿1¢d 1.11 FtnaTKaal l•lxWJo1 •p ￿¢￿4n1￿d vth8n tha bKomD$ • party to IN* of th• Adllknly. •ll ffin￿d￿l aoMts •• *crx>rthg tr1 th• aBwts, Indud• tr•Y• •nd olhgr cash ai L•nk wo rm•&U￿ ol IJ￿1￿*￿n th Ilndudlng trarnthi LThl¥l ¢wrfgd 1.12 Lo•n• p￿rrents any aoyuwj lthrBDI. To &¥t•ntlhat thg 1$ awsoed a• In6tTh*rablè. an Implim￿ In the appk*lon of The Exllarch's Foundation's OiBVa& th? Trust885 &r8 r8quir•d to judg8Tr)onts, 8Stlmales ond assumpt1￿ ab￿rt the ¢arryty aThount Of awts and I￿￿"11￿e6 that are not readlly appArÈnl trom othèr ÈOLWC88. Th8 e$tkn8tss and 8ssooated 8SSUrnFllon5 are t•sgd on hi¥toi•>l weTt oth8rlacaors that arg Mnwdered to t¢ 14oV8nL Actual r•suMs m8y diffeT from e&timats9. ethm31es unoerfylng sssunwlknns are mkw•tY orh an or4J0419 bas&. to ac£oJmdnp esUm8tes are Ye￿nIs￿ ￿ lh& pèrfL¥l in th8 eslimalo is r•wsed where lh8 r￿S￿On alT6cts that period, ty in Il* of Iha rav￿On and lubJ￿ p•rirxts *ther• Ihe affpcts Lwrrgnl Ind lulur¢ AF dlK109•d in ￿¢• 10, eharltfs hw•slment p￿￿e8 hove been v81u8d on 8n rTwket voluè by an Indopendgnt professh)nd valuer, vahAon of vthlth 1$ bas•Y on ¥ of hw*JdlNd m8rkalo)nd￿ornS whith 81 the balanrE sh￿1 date. 15. THE EXILARCWS FOUNDATION NOTE8 TO THE FINANCIAL STATEMENTS (coKllNUED) FOR THE YEAR ENDED 31 DECUIBER 2024 7,XN934 7.38sA64 47,5tr2 704.OB3 32&109 84242 7,aBl,￿s &153.789 IDaudwJ wlthln otror kno)m& b £rll (3)Z&' £et￿,[(￿) cl dlloF4d8Uwo £44.913 (*23: £14.0&31 Rahlnq fuTh*• fvnd 37Q384 Othorkndrahhw SiypDrtC4J8ty r•)t• 7) 324,e84 >)9aOi 5*835 76.150 Futhhlng and pubildty 751mS 3B5.991 1fj- THE EXILARCH'S FOUNDATION NlJfES TO THE FWANCIAL STATEMENTS (CONTINUED) FOR 7HE YEAR ENDED 31 DECEIIBER 2024 2023 Gwrtknjlng 01aL*￿￿•& (88• rKts 61 721&111 (m.894) 27Q914 29.eii) 5,533JJ7 1220,485) 253.554 94816 76,150 F*￿ne4 ofwpporl {8b8 OI01Ae6 5,737A42 w￿re swJTrifjc£nt g￿t payments are due h oro*r Ihan oftg yeaf tha anwxmls have d181¥unlgd to fle¢t the* net present V8k*. Vin8rt8 ￿ repre8¢rt fiTrO￿ chwges In rewt ol the of thè grants. 17- Iii'i i- 8ggsgg ggg Iiil'lilili THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL STATEMEPn (CONTINUED) FOR THE YEAR ENDED 31 DECEIIBER 2024 Suppgrt GtyMmM 21.638 24.1 24.128 1878 1A78 49.308 49.308 .(￿ 3QODD 27.475 S6.e&3 56m3 4Z708 42. Prtleoslonal febs f896 21.638 24,128 1•172 152. Fwth8lslryJ 10.819 10.810 46.116 4&116 12.1)04 12.084 78.150 78,1fil 21.638 24.128 121172 1513fy) InrludBd £44,933 {2Q23: £14,063) of6Jnat•d •c¢iyJ)t•w from r•*r*¥ursèd tr> Ih•m12023.£nM Ttr*nM•r• byll* cknarly thoy•wc¢fv by•￿* yar. fvnd• X+23 Invesknent8 Gal￿11￿> on 8a* ol Inv8glrnents 1211.T21 1211.721 421A53 421 1.128,521 1,12¢621 1.478J20 1301.180 3,779.5CQ (2.335M911 13.741.764) (1071,4551 4921 1816.562 1301.1&J 6.117.742 (1,97TmDI (3,741.7641 15,719.3941 THE ExILARcH￿ FOUNDATION NOTES TO THE FINANCIAL sfATEMENT8 (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2024 At 1 Jaw 21124 Netgdro or IDsB88 Ilwh f•kVal￿ a¢J8trnonts 04.911.QOD 3.779, 311)el￿nbff 2024 a8.es4),￿j Thè tffopertigs hav& been revalu& a¢ Ihe repm year er¥J (y8n value ba by •n ts¥JeperKlent Chartered Whybrow & Dochth LimKed and reprewt ihelrtslrv41ue. The eharlty 18 8 1•88ehdd tonant £nd pays a pepp¢r¢(Yn wt to the k)ng 10888holder of a prop81ty is 0￿ed by a 4x>mpany In Ihe trustees are dheiorslsh8rèhDld8rswilh contrd ofthe conyony. THE EXILARcifs FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Shrnkn Al 1 2(&4 Addlti(K Valuakn thBng88 2230W 7.020,OYJ I￿?,0￿] 2.572,n4 444757 26.1 (381.711) (4q7T41 11.TTO,0I8) 9200.620 4,072.774 1W8,9&1 1369,711) 31 0￿￿ber2024 4.124.552 8.378291 12W2.843 At l January 2024 Inn•n110•8 167x4 1S7232 31 Dw*thr2024 1572Y2 187232 At 31 Dgwfibw2024 4.124,%12 8.221.0 11345A11 At 31 2231IW 7.020.ONJ 9250,620 ygw. the cornp8ny dassm¢8kn irf IB Ilxod asB* InwtrnorU¥ •rtd c*lth inv•xmerts prthiouBty PTesenlgJ gl ThDr 1rN•s1ff￿ wor• nky* ¥prrtry￿•l￿Y dats￿1 Th13 thw ￿lY Th) on trffj fmd r¥pDrtwJ on thg balgnGe sh•sltr th• prlorffin*YW yosr. L*t•d IrN•strnonth al fthr VAlu• kn¥•Bkn•M In *thl¢h •r• In quoi•J IM4ud&J catyng amwnt Qlh•r ki4wlrn￿ h L504k of InW¥b￿ hgkl ot hlth rTht [898 IrrTdffnonL IrryalTrrwrt IOBUB r•lat• to ￿ In¥•thwrt i• M thB•r lo t• rn¢thwth. In￿￿ThrOnt lou•8 arn [r￿￿d￿l kn n&s•knBI (kme81 (ffi on lh• f#(* ofth• SOF 2024 Shw• in uftdwW￿an0s. 12 -21- THE EXILARcTrfs FOUNDATION NOTE8 TO THE FINANCIAL STA7EMEKfs (CONIINUED) FOR THE YEAR ENI)ED 31 DECEal8ER 2024 12 Sthldl1rkn• Th• $lalThnts ofE4luFllm& Un*•d h&¥0 boon prnPar￿ toTh¢ Exlthhb Ftyjnt fn•%lal &atsmerth. Rnal pr•r4rndto 31 Jarw8ryW)24. wNh bolry d*iWI on 11 JunB 2024. Th• Iw) wrnrd￿ k) E￿￿￿￿& byThe of£81.8n toTr• Exllarth knYeobiiwrtof£1. tho wlYA• glw• cl EduF*n8 Urnlt•l. wa8 to Th• Ro￿1￿1 of£3.747 pad 8& a ¢M1ond toTh• FrAmdalkn dLvkno SY24. 13 D•k¢w• f*lllnu on• yw. Trad•d•trt( AK¥unts ￿b￿d￿ry Lmdorta￿hv4i 508,747 e1,e71 386M51 372 186,056 41,e83 1.078,454 Arn￿nts cNed by suhidiary und￿￿k￿rI3 reprè58nt curKg8sionary loans madè to f8cilitate ¢h8 production and of educatkjnal films. Thero 16 Tr) fixed repa>ryllent term arKI thg amDlbnt does Mt bear IntgrosL Oth8Td8trknrs In￿)Je a o)nc*swrwy ban d8lallod as Idh)￿. (11 A £350.0￿ (20YJ- £350.CQOI Interest free whlch was 0￿gInallY rÈpAy8bkn in November 2019 ond remains outs*arKJlro to 855i5t in ttE purrhas8 ar￿ thng out of 8 proF*ty for an organlsaucffi wllh a vlsbn to gnhance J•wsh 1Sv8B. The h)an r6 und8rwrittgn by a guarantor and ￿ld[t￿)nStIy, tharity a SO￿￿3 irnrWggd)arge ￿￿in$tthè protwty. The loan maèts thè ejltèrion tre*TWrt as pwrammo r•lated 0￿c￿lO￿ary lo8nJ. THE EXILARCWS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 14 Cr•thrn: mounlbwlng du• orny•or 381,263 8Y4627 Trade ¢¥•Jli( Grpnts payatA• SA42.W21 1215396 1m8.078 285.178 1A19¥8 989.111 ¢670.794 Deferr￿ Incun• aty at 1 Jar•Jary2024 L￿d10rd Omg￿lonE fu￿￿ kn 2024 Rant 2024 012025 951,362 1951.362) 1a7a428 O￿an*d as at 31 D￿rnb￿2024 1?78.428 7.￿￿.311 6B44.n8 l Jam￿1￿￿5 Ilo•M•l 31 IIoc•rdbllr E>r￿￿ble •ndiAvmw ss,44Q527 P.741.7641 51.eo8.763 13)1.1&) S3.999.943 Enth5¥￿ent fu￿& rtpres8nt 8868ts whk* can onty b• exp￿bla Inct4ne at the discretlon of Th& Exllarch's F￿[¥S8ti￿. InG¥Jre wisiThJ on Ihè arMltrMnant funds be In acc4rd&nc• wlth the oblectb ol The Exlarth's FoundalM and L8 fi￿uded 29 unrethctsd in￿me. Ary ￿pital ￿Tr5 or k 8ri8Éng on Ihe assets fom part ofth& fvThl. THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEhlBER 2024 Thts dB5SBrHIBd furK18 Irdudo L*on 8•t a￿d• ol Mr•otrKlod bythg trust￿#tOr FxJfFKJSX mods up88 fo￿￿. 1825Om . 18250.fKX) 18250AMIO 1I250mD 18,25OMXI . 18.2W PurrA)s £1o.rK)o,Oc￿ Asslsllng th8 s8Uing up of educatkn￿ and rdwous in*thrfons In a fu￿re rtreStsb1L8￿ J•*A8h (¥)mmunity in Iraq,. £7,IXX),OOOAdvanwiw)l of Lhiv8ws81 Mo￿the13M'. £1,2YJ.000 UK Ssr881 H8Btthts￿ Innwatl)n a ￿allh a¢cder8tor hIU8t￿e desigrEd to Con￿¢* l$raeli Igrtal heatth Start￿p& wllh the UK'8 NHS. THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL STATEMEPTrJ (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 fund• 2Q2J F￿d b81￿CeS at31 r8prw8ntsd ty. Inbwtrrmnl pNJporl•• 3469OA57 51999.943 88.￿￿111 33,212,237 51.th8.783 a4.￿1.0( 12,345,611 12245.611 9¥0,ff2D 9,ZfjOmO 1W7AI9 1087,419 1278.￿9 1,276W9 (7.B81311) 17M&311P 16.844.788) 18.844.786) Nèt ¢urrent 898•ts twm 41.040276 &3,999,943 95,040219 3&894.618 S1,￿.7&1 Be.￿,541 uThJWnor￿X￿11abkn￿O1aur¥J Iva888. (al dui 1YIIX)O I.￿$.534 In o¥•rkn y•w8 4.11&534 43A&34 4,383W4 tho rO￿￿Jn9 d81$ Thg Exlfirch￿ F￿rNI￿lIan ￿ I￿￿￿￿(10d fAth fry tho ftknthng 2•23 7.644.015 7232.780 25.547,230 28.735.748 32,503.9)Y 35,562.483 In oNwfivo yows .150 S9￿31.011 THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL sfATEMEKfs {CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 ¢111¥od 480t*￿ InbYthent8 14t*2J61 7￿71384 Tha £14 rnlIk￿ of In￿811￿￿ ¢a7mnkn￿ntr afo •xp•*d to b• by ff•W noxi fve ywB 8Th1 fiJn¢knl thr￿ • of kn18mal r•gm8. •KI dsbl)ulcm tr 22 Tréarhts •*•rth• ff•pwlkn9 d* PoÈt yw and. alllrfty mode o1£1m tu JAMI lthtal Fknath. Th• ￿mImer•I wll bo lo >•w end. prEuodB ofQ6m TAW• r•xW on Of￿ Inwthwnt wopwty h•ld at Unthd. ofythtth th01ni•l￿ ar• dlr•thi. year. ￿w￿ngttF£l￿520 (202& £198,888)*w• ahwdwl to W•91m￿*￿￿￿y. Mr CBE DLCBE h • tho year, Monopro Llmlted. a wmpqny of whlth the tntstee5 gre dlrectors, doTr•tsd act¥)LwtsIty S*WG8S e6tknated k) arT￿nI ID £44,93312023.. £14.0831 DurfTrJ Ihe ￿r. Monopro Linll8d also pro¥￿ed support tn managlng Ihe r£nwnls knv•sim•nt and wop pefllollo andthe tr￿•$ are Dft￿ oplnlon that ￿ ￿lIabl? 8sllmot• com bo altribut•d to Ihis gjpwt. THE EXILARCH'S FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (coKllNUED) FOR THE YEAR ENDED 31 DECFIBER 2024 eA46,878 (3.6W0381 (T,881P05) 14153,789} (1,128A21) ￿.779.6￿> 6.OTI.455 (1.368,gS31 (471,&fj3) 15T,232 .Y11 F81r Igalnsylcwos on pm F8* ¥du• MovorMnt8 in rapmal.. {InC¥0￿Y￿￿￿?8W Sn d8bbys IDefnps•Yincrna6a kn (¥8dNors lity•￿ Intyants pjyab 1654,7221 (1AI0,8061 1.3NJ,581 384,432 1,S99.893 882283 [7.897.n￿) 13,256,825) Al l Qwhlluw• At 11 D•p4n C*oh at kAnk arKI kn hwKI 7.412.553 (604.4711 6.￿8.070