The proper orthogonal decomposition (POD) is applied to the minimal flow unit (MFU) of a turbulent channel flow. Our purpose is to establish a numerical validation of low-dimensional models based on the POD. The simplest (two-mode) model possible is built for the simplified flow in the minimal unit. The dynamical behaviour predicted by the model is compared with that actually occurring in the direct numerical simulation of the flow. The various modelling assumptions which underlie the construction of low-dimensional models are examined and confronted with numerical evidence. The relationship between intermittency in the MFU and intermittent low-dimensional parameters is investigated closely. The agreement observed is quite satisfactory, especially given the crudeness of the truncation considered. To further demonstrate the adequacy of the model, we develop a dynamical filtering procedure to recover information from realistic (partial) measurements. The success obtained illustrates the versatility of the low-dimensional paradigm.