The Exemplar Trust - Charities report - 18.1

REGISTERED COMPANY NUMBER: 06067602 (England and Wales)

REGISTERED CHARITY NUMBER: 1118440

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE

YEAR ENDED 31 JANUARY 2018

FOR

THE EXEMPLAR TRUST

THE EXEMPLAR TRUST

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

Page

Report of the Trustees

1 to 3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6 to 7

Notes to the Financial Statements

8 to 14

THE EXEMPLAR TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 JANUARY 2018

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with

the financial statements of the charity for the year ended 31 January 2018. The trustees have adopted the provisions of

Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their

accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)

(effective 1 January 2015).

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;

- Such other charitable purposes for the benefit of persons of the Jewish faith in any part of the world as the

Trustees shall from time to time decide.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on

public benefit when reviewing the charity's aims and objectives and in planning future activities.

The trustees identify institutions and organisations which meet its above criteria and regularly support a number of these

institutions and organisations.

The principal activity of the company's subsidiaries are that of dealing in residential properties.

Grantmaking

Grants are made to charitable institutions and organisations after it has been satisfied that payments will accord with 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

Donations together with income arising on investments were considered reasonable and the trustees feel that the

present level of income is sufficient to permit the charity to continue for the foreseeable future.

A summary of the charity's transactions and of it's financial position is shown in the financial statements together with

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.

The trustees are satisfied with the return on investments achieved during the year and feel confident that the charity has

adequate reserves to fulfil its charitable obligations.

Internal and external factors

There are no specific factors to report.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources are donations from corporate sponsors and investment income.

Reserves policy

The charity aims to maintain reserves in order that it is in a position to continue its grant making activities at a consistent

level and to cover contingencies of additional calls being made upon the charity for support of organisations or

institutions in times of need.

The present level of funding is adequate to support the continuation of the provision of assistance by the giving of grants

or equipment in the short term, and the trustees consider the financial position of the charity to be satisfactory.

FUTURE PLANS

The Trustees plan to continue to support charities and charitable purposes in accordance with their grant making policy

and to ensure that the ability to generate sufficient income is maintained to achieve that end.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006.

The charity is constituted as a company limited by guarantee and as such,its governing documents are its Memorandum

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

The company has 5 trustees, names of members are listed on page 2. The charity is organised so that the trustees 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

New Trustees must familiarise themselves with the content of the Memorandum and Articles of Association, their legal

obligations under charity and company law, the organisational structure of The Exemplar Trust and the recent 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

- appointed 1.3.18

Company Secretary

N Teitelbaum

Independent examiner

Aryeh Melinek FCA

Chartered Accountant

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

Bankers

The Royal Bank of Scotland

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to

small companies.

Approved by order of the board of trustees on 19 October 2018 and signed on its behalf by:

N Teitelbaum - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

THE EXEMPLAR TRUST

Independent examiner's report to the trustees of The Exemplar Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2018.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.

the accounts do not accord with those records; or

3.

the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached

Aryeh Melinek FCA

Chartered Accountant

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

25 October 2018

THE EXEMPLAR TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 JANUARY 2018

2018

2017

Unrestricted fund

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

18,000

15,000

Investment income

2

230,939

232,881

Total

248,939

247,881

EXPENDITURE ON

Charitable activities

3

Donations in support of religious,educational and other Charitable donations

109,494

160,960

NET INCOME

139,445

86,921

RECONCILIATION OF FUNDS

Total funds brought forward

3,710,181

3,623,260

TOTAL FUNDS CARRIED FORWARD

3,849,626

3,710,181

THE EXEMPLAR TRUST

BALANCE SHEET

AT 31 JANUARY 2018

2018

2017

Unrestricted fund

Total funds

Notes

£

£

FIXED ASSETS

Tangible assets

9

707

1,383

Investments

Investments

10

12,501

12,501

Investment property

11

3,941,902

3,941,902

3,955,110

3,955,786

CURRENT ASSETS

Debtors

12

164,850

163,012

Cash at bank

523,322

382,110

688,172

545,122

CREDITORS

Amounts falling due within one year

13

(53,656

)

(50,727

)

NET CURRENT ASSETS

634,516

494,395

TOTAL ASSETS LESS CURRENT LIABILITIES

4,589,626

4,450,181

CREDITORS

Amounts falling due after more than one year

14

(740,000

)

(740,000

)

NET ASSETS

3,849,626

3,710,181

FUNDS

17

Unrestricted funds

3,849,626

3,710,181

TOTAL FUNDS

3,849,626

3,710,181

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended

31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)

ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 19 October 2018 and were signed on its behalf by:

N Teitelbaum -Trustee

THE EXEMPLAR TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been

prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of

Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting

Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies

Act 2006. The financial statements have been prepared under the historical cost convention with the exception of

investments which are included at market value.

Preparation of consolidated financial statements

The financial statements contain information about The Exemplar Trust as an individual charity and do not

contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A)

of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is

probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the

charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and

the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has

been classified under headings that aggregate all cost related to the category. Where costs cannot be directly

attributed to particular headings they have been allocated to activities on a basis consistent with the use of

resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment

but not accrued as expenditure.

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

Investment properties are initially recognised at purchase price plus any directly attributable costs. Subsequently,

investment properties are measured at fair value with any changes to fair value transferred to the Statement 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

The charity is a company limited by guarantee and has no share capital. Liability of each member in the event of

winding-up is limited to £10.

Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit

or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset or settle the liability simultaneously.

2.	INVESTMENT INCOME

2018

2017

£

£

Rents received

227,780

229,709

Interest receivable

3,159

3,172

230,939

232,881

3.	CHARITABLE ACTIVITIES COSTS

Grant funding of activities

Support costs

Totals

(See note 4)

£

£

£

Donations in support of religious,educational and other Charitable donations

15,000

94,494

109,494

Included within support costs are governance costs in the sum of £2,833 and bank loan interest in the sum of

£27,896.

4.	GRANTS PAYABLE

2018

2017

£

£

Donations in support of religious,educational and other Charitable donations

15,000

40,000

Donations and grants comprise amounts paid to institutions in accordance with the charity's objects. All donations

were paid directly from the charity to the institutions, as follows:

Name of charitable organisation

Total donation (£

)

Society of Friends of the Torah

5,000

Vyoel Moshe Charitable Trust

10,000

5.	NET INCOME/(EXPENDITURE)

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

2018

2017

£

£

Depreciation - owned assets

1,826

3,415

Independent Examiner's remuneration

2,400

2,400

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2018 nor for the year

ended 31 January 2017.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2018 nor for the year ended

31 January 2017.

Therefore, there was no key management compensation.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

15,000

Investment income

232,881

Total

247,881

EXPENDITURE ON

Charitable activities

Donations in support of religious,educational and other Charitable donations

160,960

Total

160,960

NET INCOME

86,921

RECONCILIATION OF FUNDS

Total funds brought forward

3,623,260

TOTAL FUNDS CARRIED FORWARD

3,710,181

8.

EMPLOYEES

The average number of employees, excluding trustees, in the year was NIL (2017: NIL).

9.	TANGIBLE FIXED ASSETS

Fixtures and fittings

£

COST

At 1 February 2017

13,658

Additions

1,150

At 31 January 2018

14,808

DEPRECIATION

At 1 February 2017

12,275

Charge for year

1,826

At 31 January 2018

14,101

NET BOOK VALUE

At 31 January 2018

707

At 31 January 2017

1,383

10.	FIXED ASSET INVESTMENTS

Shares in group undertakings

£

MARKET VALUE

At 1 February 2017 and 31 January 2018

12,501

NET BOOK VALUE

At 31 January 2018

12,501

At 31 January 2017

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

Nature of business: Trading in properties.

%

Class of share:

holding

Ordinary £1

100

Bluetree Property Group Limited

Nature of business: Trading in properties.

%

Class of share:

holding

Ordinary £1

100

11.	INVESTMENT PROPERTY

£

MARKET VALUE

At 1 February 2017 and 31 January 2018

3,941,902

NET BOOK VALUE

At 31 January 2018

3,941,902

At 31 January 2017

3,941,902

Investment property was valued on an open market basis by the directors.

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

16,250

16,177

Amounts owed by group undertakings

141,378

137,533

Other debtors

5,066

6,771

Prepayments

2,156

2,531

164,850

163,012

Short term debtors are measured at transaction price, less any impairment. Other debtors are measured at

amortised cost.

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

47,566

45,021

Accruals and deferred income

6,090

5,706

53,656

50,727

Short term creditors are measured at transaction price, less any impairment. Other creditors are measured at

amortised cost.

Included within other creditors is £34,000 (2017: £32,000) of inter-company loans. These are payable on

demand with no interest charged.

14.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans (see note 15)

740,000

740,000

15.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

740,000

740,000

16.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

740,000

740,000

Security is effected by specific legal charges on the properties held by the charity.

17.	MOVEMENT IN FUNDS

At 1.2.17

Net movement in funds

At 31.1.18

£

£

£

Unrestricted funds

General fund

3,710,181

139,445

3,849,626

TOTAL FUNDS

3,710,181

139,445

3,849,626

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

248,939

(109,494

)

139,445

TOTAL FUNDS

248,939

(109,494

)

139,445

Comparatives for movement in funds

At 1.2.16

Net movement in funds

At 31.1.17

£

£

£

Unrestricted Funds

General fund

3,623,260

86,921

3,710,181

TOTAL FUNDS

3,623,260

86,921

3,710,181

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

247,881

(160,960

)

86,921

TOTAL FUNDS

247,881

(160,960

)

86,921

18.	RELATED PARTY DISCLOSURES

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.