Valeways
Report & Financial Statements for the year ended 31 March 2021 Charity number: 1062031
Valeways - for year ending 31 March 2021
Contents
| Item Objectives and Activities Achievements and Performance Financial Review Structure, Governance and Management Reference and Administrative Details Responsibilities of Trustees Statement of Financial Activities Balance Sheet Notes forming part of the financial statements |
Page 1 2 3 3 3 - 4 4 5 6 7 - 9 |
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Valeways: Trustees’ Annual Report for Year ending 31 March 2021
OBJECTIVES and ACTIVITIES
The Charity’s objects are:
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i. The preservation and protection of footpaths and other ways, particularly in the Vale of Glamorgan (the Vale).
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ii. A programme of walks led by trained volunteers to promote knowledge of the Vale.
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iii. Offering opportunities for healthy and inclusive recreation, through a range of graded walks, to promote mental and physical health and wellbeing.
The charitable activities of Valeways are summarized under the following headings:
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Public Rights of Way (PROW) Improvement and Maintenance
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Guided Walking
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Walking Promotion
A. Public Rights of Way Improvement and Maintenance
Scope of Activity
To support the provision of a quality experience for users of rights of way in the Vale, with a particular focus on walking for health. Improvements are concerned with the identification and communication of damaged footpath furniture: stiles, gates etc. Maintenance relates to minor repairs to footpath furniture and clearance of vegetation.
Objectives
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Contribution to improvement of PROW.
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Contribution to ongoing maintenance of PROW.
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Provision of an inclusive volunteering programme.
B. Guided Walking
Scope of Activity
To contribute to the health and wellbeing agenda for the Vale by continuing to offer a quarterly based walking programme with up to four walks per week, led by trained volunteers, across the county. To encourage walking tourism in the Vale.
Objectives
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Provision and development of a health-oriented guided walking programme not offered by any other organisation.
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Provide support to community groups to establish a walking group or programme.
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Delivery of the tenth Vale of Glamorgan Walking Festival.
C. Walking Promotion
Scope of Activity
To promote independent walking in the Vale by developing and making available route information. Additionally, to act as advisor to Creative Rural Communities (CRC) in the Vale in their project to develop walking tourism.
Objectives
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To provide access to walking information to support independent walking.
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To maintain and expand our range of walking leaflets .
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Valeways: Trustees’ Annual Report for Year ending 31 March 2021
ACHIEVEMENTS and PERFORMANCE
The charity’s activities were suspended in the middle of March 2020 following the Government announcements responding to the Covid-19 crisis, and restarted at the beginning of August 2020. However, activities were also suspended for 3 weeks towards the end of October 2020 in the ‘Firebreak’ lockdown and again from the 20[th] December 2020 until 26[th] April 2021 in a further lockdown. This severely limited the Walk & Clear and Guided walking programme during this financial year.
A. Public Rights of Way Improvement and Maintenance
Valeways – ‘Walk & Clear’ Contributors
Valeways organizes volunteer-led working parties to go out on a regular basis and clear overgrowing vegetation from public rights of way in the Vale.
Total value of this volunteer contribution – 983 hours – monetary value £6,350.
- Valeways Adopt a Path
Valeways encourages volunteers to "adopt" a path and regularly inspect it to identify any problems. Total value of this volunteer contribution – 176 hours – monetary value £2,274 .
B. Guided Walking
Valeways trains and supports volunteer walk leaders to guide walks across the Vale.
Walk Leader volunteer contribution totals 598 hours – monetary value of £7,726.
Walking Programme
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Programme of 88 guided health walks completed over the 12-month period.
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Number of walkers participating in guided health walks was 254, and the number of occasions walkers went out on walks (outings) reached 1,333.
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140 new walkers were recruited, 102 females and 38 males.
Walking Festival
The annual Vale of Glamorgan Walking Festival was cancelled in 2020 due the Covid-19 restrictions, but will go ahead in September 2021.
Planned objectives:
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To raise the profile of the Vale both as a county and as a walking destination.
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To encourage participation in the festival and subsequent walking activities by visitors and residents.
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To develop a quality event to underpin the Vale tourism product.
C. Walking Promotion
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Reprinting of some walk leaflets, and the production of a variety of posters and flyers advertising the walks organized by Valeways.
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Maintenance of Valeways’ website allowing the download of all walking route leaflets. This facility allows for all routes to be publicly available at all times whether available as hard copy or not.
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Communication of activities including weekly walking programme updates on social media, in particular Facebook but also using Valeways Twitter and Instagram accounts.
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Attendance and support for Health & Wellbeing events and activities.
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The promotion of regular dementia friendly walks organized by trained walk leaders.
PUBLIC BENEFIT STATEMENT
The trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. As stated elsewhere in this report, Valeways’ charitable activity work is clear evidence of both the identifiable benefit provided and the relation of this benefit to the charity’s aims. By fundamental definition, Valeways beneficiaries - as users of PROW - are the public where 'public' is used in its widest sense without exceptions or exclusions.
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Valeways: Trustees’ Annual Report for Year ending 31 March 2021
FINANCIAL REVIEW
Valeways continues to face challenges as it no longer receives core funding from the Vale of Glamorgan Council and now operates without paid staff, resourced and lead solely by volunteers. The National Lottery funding received in March 2020 to support the Adopt a Path scheme, has contributed a significant amount to this year’s income supplemented by a grant from the Heritage Lottery for the Cadoxton walk and history project, some of which has been deferred to 2021-22 as the filming has had to wait for the Covid-19 restrictions to be relaxed. Also, during 2020-21 Valeways received large grants from the Simon Gibson Trust, and the M&G Community Fund. Subscription income from the Friends of Valeways was in line with last year, and sundry donations increased by 70% this year.
Operating expenditure in 2020-21 fell significantly following the release of the two part-time staff during the previous year. Valeways’ trustees continue to play an active role in the management of the charity and have contributed well in excess of 1,000 hours during 2020-21, and volunteers including the two former employees have increased their contribution to the charity’s regular and project related activities.
In 2020-21 with incoming resources of £19,929 (prior year: £14,995), Valeways generated an operating surplus of £14,469 (prior year: deficit of £8,236), a dramatic improvement. This year, as was the case for the last two years, the income level is below the independent examination threshold of £25,000.
Reserves Policy . The trustees are aware of the need to accumulate sufficient reserves such that the Charity can continue in operation during challenging times. The reserves target is between 6 – 12 months’ total core running costs which gives a range of £4,000 to £8,000. The current unrestricted reserves level of £22,034 is well above this, but the trustees plan to reinvest the reserves in a new website, electronic document and file storage, tools and training now that the Covid-19 restrictions have been largely relaxed and all activities can be resumed.
STRUCTURE, GOVERNANCE & MANAGEMENT
Governing Documents. Valeways registered as a charity in April 1997. Since June 2020 Valeways has been operating as a Charitable Incorporated Organisation (CIO) using the standard constitution model recommended by the Charities Commission.
Recruitment and Appointment of Trustees. The business of the Charity shall be managed by the trustees who may exercise all the powers of the Charity as per the governing documents. Trustees are appointed by a resolution passed at a properly convened meeting of the charity trustees. Recruitment of candidates for trustee positions may be by advertising or from recommendations. Candidates are expected to demonstrate relevant skills and experience that will benefit the charity.
Risk Management . The trustees continually examine the principal areas of the charity’s operations and it regularly considers the major risks that may arise in each of these areas. Under normal conditions, the established resources and systems should allow the risks identified to be mitigated to an acceptable level in day-to-day operations. Financial risks continued to be monitored carefully in light of restricted funding and bearing in mind future plans and commitments. The trustees focused considerable time and effort during the year on the risks arising from the spread of the Covid-19 virus and implemented actions and controls to limit risks to volunteers, walkers and members of the public.
REFERENCE AND ADMINISTRATIVE DETAILS
Directors/Trustees - at date of report’s approval:
Mr P Weston (Chairman) Mr D Phillips Mr G Clark Mr P Hawkins Mr P Cornell
Mr M Edwards, Mrs B Gibbins and Mr A Simmonds served as trustees during 2020-21.
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Valeways: Trustees’ Annual Report for Year ending 31 March 2021
Registered Office Unit 7, Barry Community Enterprise Centre Skomer Road, Barry Vale of Glamorgan CF62 9DA Bankers Co-operative Bank Charity Registration Details Name: Valeways No: 1062031
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Charity and company law require the Board of Trustees, as trustees and directors, to prepare financial statements for each financial year that give a true and fair view of the state of the affairs of the charitable company and of the results for the year. In preparing those financial statements, the Board of Trustees is required to:
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the company will continue in business.
The Board of Trustees is responsible for keeping adequate accounting records which disclose, with reasonable accuracy, at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ON BEHALF OF THE BOARD:
Peter Weston, Director
Approved by the Board on 29 September 2021
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Valeways
Statement of Financial Activities for the year ended 31 March 2021 (Incorporating an income and expenditure account)
| Notes | Unrestricted | Restricted | Total for year |
|---|---|---|---|
| funds | funds | 2020/21 2019/20 |
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| Income Grants 2 Donations 2 Publications Bank interest Expenditure Activities Staff 3 Office Governance Net income/(expenditure) Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
£ 5,050 4,410 152 - 9,612 199 - 319 - 518 9,094 5,383 14,477 7,557 22,034 |
£ 10,017 300 - - 10,317 2,396 - 2,479 67 4,942 5,375 (5,383) (8) 5,406 5,398 |
£ £ 15,067 12,056 4,710 2,832 152 90 - 17 19,929 14,995 2,595 3,051 - 16,483 2,798 3,697 67 - 5,460 23,231 14,469 (8,236) - - 14,469 (8,236) 12,963 21,199 27,432 12,963 |
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Valeways
Balance Sheet as at 31 March 2021
| Notes £ £ Current assets Debtors 4 99 Cash/bank 35,936 36,035 Creditors:Amounts falling due within one year 5-6 (8,603) Net current assets/(liabilities) 27,432 Net Assets 27,432 Funds Unrestricted income funds 22,034 Restricted income funds 7 5,398 27,432 31 March 2021 |
£ £ 101 22,289 22,390 (9,427) 12,963 12,963 7,557 5,406 12,963 31 March 2020 |
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In approving these financial statements as Directors of the Charitable Company we hereby confirm:
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the Charity is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021; and
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the members have not required the Charity to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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ensuring the Charity keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and
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preparing financial statements which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of its net incoming resources for the 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 Charity.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
ON BEHALF OF THE BOARD:
Peter Weston, Director
Approved by the Board on 29 September 2021
The notes on pages 7 to 9 form part of these financial statements
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Valeways
Notes to the Financial Statements for the Year ended 31 March 2021
1 ACCOUNTING POLICIES
Basis of preparation . The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have also been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - abbreviated to Charities SORP FRS102) issued on 16 July 2014, Update Bulletin 1 (effective 1 January 2016) to Charities SORP FRS 102, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and the Companies Act 2006. For the third financial year, as a smaller charity, Valeways has adopted a simplified income and expenditure account as its’ SOFA.
Public Benefit. Valeways (the charity) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) .
Preparation of the accounts on a going concern basis. The trustees consider that the charity can continue as a going concern for at least the next 12 months.
Income. Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where income has related expenditure (as often with fundraising), the income and related expenditure are reported gross in the SOFA.
Interest receivable. Interest on any funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Fund accounting. Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor, or charity when making an appeal, has specified are to be solely used for particular areas of the charity’s work.
Expenditure. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement is required and the obligation’s amount can be measured reliably.
Stock. The charity has no material stock holdings .
Financial instruments. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value .
Debtors. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand. Cash at bank/in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account .
Creditors and provisions. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation. The charity is exempt from corporation tax on its charitable activities.
Operating lease agreements. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Fixed assets. The Charity has an item capitalisation threshold of £1,000; all eligible assets have been fully depreciated.
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Valeways
Notes to the Financial Statements for the Year ended 31 March 2021
| 2 INCOME Grants Barry Town Council Vale of Glamorgan Mayor's Foundation Fund Rockwool Simon Gibson Vale Tourism Association The Albert Hunt Trust Lions Club and Community Councils M&G Community Fund |
2020/21 2019/20 £ £ - 500 250 250 - 2,500 3,000 3,000 - 3,956 - 1,000 50 850 1,800 - |
|---|---|
| GVS Grants | 707 - |
| National Lottery Community Fund Heritage Lottery Total Grants |
6,908 - 2,352 - |
| 15,067 12,056 |
Government grants (defined in the SORP as ‘transfer of resources to a charity in return for compliance with specified conditions relating to the operating activities of the charity’) recognised in the accounts comprise income from local authorities and government agencies of £1,007 (2019/20: £5,156).
Donations
| Friends of Valeways subscriptions Other Total Donations 3 NET EXPENDITURE Net expenditure is stated after charging: Salaries Social security costs Salary processing charges Staff expenses Staff Costs Directors'/trustees' expenses Total number of employees Average monthly number of full-time equivalent employees |
1,450 1,431 3,260 1,402 |
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| 4,710 2,832 |
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| 2020/21 2019/20 £ £ - 16,157 - 191 - 80 - 55 |
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| - 16,483 |
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| 67 - Number Number - 2 - 0.9 |
The total amount relating to termination payments during the year was £0 (prior year: £5,363). Key management personnel comprise only unpaid trustees. There were no related party transactions and no director/trustee remuneration was paid. Expenses were paid to one trustee, £67 (prior year: £0). Office costs include £1,610 (prior year: £1,584) office rental under a cancellable operating lease.
| 4 DEBTORS Prepayments Total debtors 5 CREDITORS: Amounts falling due in one year Trade creditors Deferred income Other creditors and accruals Total creditors |
2020/21 2019/20 £ £ 99 101 |
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| 99 101 |
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| 2020/21 2019/20 £ £ 103 327 8,440 9,100 60 - |
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| 8,603 9,427 |
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Valeways
Notes to the Financial Statements for the Year ended 31 March 2021
| 6 DEFERRED INCOME | 6 DEFERRED INCOME | 2020/21 2019/20 |
|---|---|---|
| Grant received for activities to be carried out in the following year. Balance as at 1 April 2020 Amount deferred in year Amount released to restricted income Balance as at 31 March 2021 7 RESTRICTED FUNDS At 1 April 2020 Income £ £ Walk leaflet reprint 600 300 Adopt a path and related walking activities - 6,908 Cadoxton history project - 2,352 Posters, flyers and Covid PPE - 707 Vale of Glamorgan walking festivals 4,806 50 5,406 10,317 |
£ £ 9,100 - 6,248 9,100 (6,908) - |
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| 8,440 9,100 |
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| Expenditure At 31 March 2021 £ £ 165 735 6,908 - 2,352 - 707 - 193 4,663 |
||
| 5,406 10,317 |
10,325 5,398 |
The walk leaflet reprint grant was from Dow Corning. The Adopt a path and related walking activities funding was from the National Lottery. The Cadoxton history project was funded by the Heritage Lottery. The funding for the Vale of Glamorgan Walking Festivals was from the ValeTourism Association, the Lions Club, and a number of Community Councils. GVS arranged two grants, one for posters and flyers promoting walks, and the other for Covid PPE and office sanitising.
| 8 FUND/ASSET ANALYSIS Net current assets |
Unrestricted funds Restricted funds 2020/21 total funds 2019/20 total funds £ £ £ £ 22,034 5,398 27,432 12,963 |
|---|---|
| 22,034 5,398 27,432 12,963 |
9 2019/20 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Income Grants Donations Publications Bank interest Expenditure Activities Staff Office Governance |
Unrestricted Restricted Total funds funds £ £ £ 6,750 5,306 12,056 2,832 - 2,832 90 - 90 17 - 17 9,689 5,306 14,995 1,301 1,750 3,051 11,663 4,820 16,483 2,897 800 3,697 - - - 15,861 7,370 23,231 |
Unrestricted Restricted Total funds funds £ £ £ 6,750 5,306 12,056 2,832 - 2,832 90 - 90 17 - 17 9,689 5,306 14,995 1,301 1,750 3,051 11,663 4,820 16,483 2,897 800 3,697 - - - 15,861 7,370 23,231 |
|---|---|---|
| Net income/(expenditure) Reconciliation of funds Total funds brought forward |
(6,172) (2,064) (8,236) 13,729 7,470 21,199 |
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| Total funds carried forward | 7,557 5,406 12,963 |
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