Ch•rfty v•gl•trntlon numb•T IQ9•224 C•rywy wtstrauon numb•r 04421•471Engl•nd •nd W•l•¥) VALEPLUS (CYMRU) & VALEPLUS EXTRA ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 VALEPLUS (CYMRU) & VALEPLUS EXTRA CONTEiif8 P•9• ca*lmi•nts 414tem¢nt 10 11 to ¢t*m•nts 12.27 VALEPLUS (CYMRU) & VALEPLUS EXTRA CHAIRMAN'S STATEMEKr FOR THE YEAR ENDED 30 APRIL 2024 Ch•lmwn• R•port The ¢*8rty h•$ hod an01￿1 v•ry posltiv• y•¥. 7h• ha¥• mw•d to thr￿ • pwiod of *fflatlM Bnd iill d•livw fir*i d•s• •ducoknnd •nd d•y prow"8icrn to wr •eTrrye* uw8. NUrn￿r ol ¢l'•nt* h•ve ov•r the y•81 •nd VM h8v8 dso tslod to prov608 addhlcrf￿l skl$.' cxthjw. 98rd9￿￿j akng wth lrfe skill$. Th? staff h•v¢ been •m8zlry thro￿9hr￿A th• yèar. Inmteu IiTr• to th￿k them for thèir In both Ih? thapel aNI c•ts kn Bwry. •nd in U•nts/l M•Eor. )A* have *￿IdIed • newlorgw kW*n •nd outhide at th• (*apd. Th• tyjtslde WOTkihop 1$ ￿)INJ uG•II mcr• and hop• to produ¢e a￿￿t￿￿oI M•w)o1 gts ￿ c•rdi to ••1 to fv g•nernl ￿￿￿1¢. Th• ￿1& hu h•d •noUwr yw •nd h oellln9 knler. Our th•n¢es Wl stw. to e4Nrtr¢l ￿ cè•t8 WMI Wtt o¥•r th• ¢onlng y•nr lo Inv• mc¢• In tr•nlng lo ¢ontinu• lo *ryo¥• *JT W4VW. MI￿ Afi¥r•*•- ¢h•lr 0lTw¥t••• Daled.. VALEPLUS (CYMRU) & VALEPLUS ExfRA CHAIRMAN'S STATEMEKr FOR THE YEAR ENDED 30APRIL 2024 ¢hl•f ex•¢utfv• R•p¢Trrt RW rth(ts thwkth• t••n PJI kn *)v•r l•#t*v y Va5• co￿tIl. Ths dogure invofv*l tr*)1 to VWVJUg F4acM, thded trip for 81 students lo •y4w￿n￿ for • group of Btudwts. Th• this •At￿l•n( pl￿PaI[n9 i) talks wch g m lh• ￿ room, wrdtvJ lottern, v#Y aThl wrthg. ¥n fuward to Inv¢*4ir•J • drflerenl t ol 2tr26. UBniY•ll hw cM￿ll th• mo•1 pcwl•r po81 on 8od•l médl• p•g• wnc• tt• Inc•ptiM. Tlh• c4labcrf•Ucm ol R2L Ch•p•l M Monil•y• tyjoklng In prv4k)u• r•ptyt, lh• m•ln fo¢u• w•8 lo •xpthd thè l•wnkng •PW •t Th• c￿￿. Hc•b•¥•r. k*n• lo do •0 w•r• n¢t h•dbl• du• to th• 49• olth• tsm'lding. Dwrt• Mfb•cK ￿ h•w r•dir•c*•d I￿•t0 Imprwng the guallty ot th• ￿•10￿ w• ccfwJLK* wi wr ¢wrent Cxw li lo Intffjdu￿ m(xe thrg•tsd on Ilfe Ills. ••pod•ty lor thAl•nl8 w• trwsldonlrY4 Into NThJ. hw th•t them d￿n9￿ ￿11 8ttr•cl *aff 81 W•PlJ& Your hard Is tru￿ •)wedited and thls r•F#yt Lq • to yw d•th(allon. Klmb•rf y Chl•l Ex•¢ulfv• VALEPLUS (CYMRU) & VALEPLUS EXTRA TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 APRIL 2024 The trust•o1 pr*0￿1 thelr •nThMI ieport and In•rd•l the y•w eThJed 30 Iw'l 2024. The finondal st•lem*nis have b••n In acwrdance th¢ Otto￿ti￿j pc4Lae3 Bel in nol¢ I lo fin•nd¥l ¥tatements ar#1 *ith the thwitfs goveming docu1r￿n1. th¢ C¢*ftw￿ Acl 2006 and "Accountlng R•p¢yUng by GharlU•$'. Stofwnert of Recommended Pr•clfj¢• •PF4roble to charttles prepBrfn9 thelr 9¢￿UnIS in a(xordonc• vnih fv Finwd•l R•pfy11tvJ Sknd•Td app4ubl• In ltrh• UK and R•wbMc of Ir•l•nd IFRS 1021- I•ff•ct￿ 1 Janvary 20191. objKtl￿• and •cllvAI•• Ch•rftsbl• For th• purpose o15•ctkn 3 (1) ence prcwd•r Ind •duutbn e$t*>tl$Mi•nl, and a pro￿der gf •lrudwed m•or¥n9￿1 lelsure •clvl•& It'8 an independ•nl ¢hthrfty. thrrking 8bng#id• social rvSu8 trArt govern•d by th•m. R *npbys qu•lTf*d t••th•rn t#&1￿ prml• Ill•lry l•Dnwng opptytynttl•?. Th•re 11• 12 wpM *¥1. 3 c4nlr• tAIw •uiwi 87 ¢l•rrt• Iwr m4n tr•h)lThJ venu•$. Publlc B•n•fft B•lnq b48•d 4¥llhln loc•1 eornmunlttes ￿ ol our wc4ect8 th• pthlk by Idghllyhting the dlv•rJlty •thiev•rn•nts ol our a6Jilion•l knèming n••th St￿Je￿$ and tharyhg p￿N¢ 8IUludes aboth peo&le ¥*ilh • I8￿￿ty arhev•. CAJr Uantr•lt M•Jor Outreach Centr¢ h•s 4•yed • P•rt In the I¥XTwnurtty engagem￿¢ gw¢•n p￿ell at CrAwgh•y CuJn r•sldenti•l home. Our SI￿ents wryk•d Icyether *lth Ihe PCSO Ahb¥nn￿ ￿¢j OGI to ¢ieple •n Improwed oarden the residents, tw ￿lm • mttde w￿rety ol pl#llc bG4tlei. 11 h*ed our l••m rw •klkn. mrA oth•r ThWhbw• of the cwwnunty. ar￿ •yr¢orf th•lr mèrtsl ￿lI1h and ￿￿b*[ThQ. V•lePhJs hal &%¥ays ￿￿¢1•100d hw h•ndHn •>¥8￿¢< hinh)g th for our stud•nt•, Ihey Pandm•kt Ill the Iloms •nd the shcs¥ tA*h ts SUFWt ol Staff te•m. TN8 the udenli lo conned tki lo￿1 COMM￿tY n Bn¥ry. C*Jr r￿n￿￿oI to ￿d0 exedknl va*J• for m(wy. A T*tKle doy #t V*Plu4 cornpar•• f•vow•bty wtth th• co81 of • pald SUFPOrt ¥•Y)￿￿ •r•Y alc**s greater ILY Inlenclion vllh peers. rn￿1￿1 •t1mulaUo￿ and a 8enM of acNe¥emert N8•ty cixnpl*d acuedit•d COLVWS throu9hDuI th• year. Achl•¥em•nt• •nd p•rfomi•n¢* Lwdvng Le•mlnq ValePKJi hJs fouT4ay s•r4i¢• ¢wts. tlw•• b•8•d on frtsgh Str••l kn 8wry •nd In Llanbhlt M•JN. In th• ran ASDAN c4urses su¢h as Prinlvig. Mew. Introducli￿ w#J as wel as Adult L•arning ￿ts19• oxK8es w•r•.' Emoltwl H•anh •rttl ¥Wbglng. Wblng. H¢￿￿re. Ang•r M￿0geMent. Follovlng In6lwcllon¥. and ￿etl￿t Dl•ry. R2L com￿ete￿ ASDAN'R•coonisirg 8ThJ Usry E¥wday SWM.. VALEPLUS (CYMRU) & VALEPLUS EXTRA TRUSTEES, REPORT (INCLUDING tXRECTORS' REPORn (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Thè Llan￿￿1 MaAN ¢oTrWed ASDAN To4#Kd8 ￿Ul9￿ 'Cop"ThJ P•opf•' as wdl ai Focus cours•s'Nwn•raLy aPKI Intr(Mlucb'on'. As w•ll 81 ¢wr88woth, contlnued to tAAld Ill• sklls.. Ib￿ I￿￿ed • p￿Week Rd•YL￿hlp, cO￿e thal w• r #fter the normal ValeP￿S Imès for atudènts warttèd to ￿rti￿pa&. Tè•cWs #kno had ASDAN tr8lning %4thith bwthd Ihwn In the fvtrn. Employmont TrnlnlnB ValePlu% is *MyS ￿8￿*¥￿ lo d•4*ky th pthti•l d rt• studwts •rAI ¥K*k4a•ed traIn￿ li a ryogremk￿ from OUT d•y ¢entr•i ￿ •n Cf*tiM lor cc4knge lea¥ers. h•v• a fuly tafè ¢•lled C•fé No S on High Straè( 8ary. Slnca rnop8niTrvJ fully Hi June 2¢r22. the cafè haB ￿e Ir(ffi streWI to wength. The mgn•ger, WFPOrt *8ff and stu¢Jgnti hav¢ butt up f8nia8tr¢ relalLMshWs ¥4th Sxal fel•Kers. Ihe local c4xnnKrty and th￿0 VI￿tIng the ar•A. Th• ￿Udert$ p* a lUr￿8M*￿tal part in w•pan'ThJ co&ing Ihe lty>J. Imgh Iw•l• of trJslom•r s•rvk• and Com*￿'n9 the ￿d-￿I4￿Y ¢*edti. In N+)bYnb•r 2023 w• r•n • w•rt•rt• m(¥rth •t Ctynp•ra•s Hww. we ￿pe to r￿ tN• prokTrm •g•n In Mwch 2025 &ft•r rt b•￿￿ * W sucu Fljwiclal rv47l•w Val•P￿S mw•m•rt th'i r•pm p•nod Iw• bwi rfèL*¥• thi d11¥•￿n9 th• th￿table •* of ￿•rnIng 8rn1 lth¥rvJ. h•¥• c¢rtnu•d our u*dh ¢ortrol h)vdc•• v• t4lng pald ￿1hkn 30 days oIIMue. R•••r¥￿ PollGy l&Plu8 eslebll•fr•d a r6w¥e• po&cy theby a #um •qtsKf*wrt to ISX months oulgdngi 51 h•ll In th• I•B•M$ #i •ny ¢47• tkn•. Th• rgwv•s *r• n••d•d to m••t wwkry wit•1 rewir•m•nis. Val•P￿S is ¢￿fid￿nt that. at Ihis le¥el. 11 would b• ￿e to sustwn ts asrr•nt adMts"e$ and ecffjmkni•rn$ lo l￿d*1% and n•ffdarl•• for th• teftn In the 014 *Th'ficant drop ￿ in¢ryntr. Al th• y••fth•nd. Iho B￿•￿e shtr￿ Fur#l8 of£220,349 leuiipar•d *4th £108.887 th• sY•vlou• ymrl. G¥ATrI Fundlni V&* w*r• ljcky to re￿0¥• A L•ro• wt fr(Th GVS io In*ll • klcMn at Ihe Chap•t, has made hugè Inw•ct our thMlent8 •5 they 811 b• kn¥dv*d In ihe ts•*ons. 81•0 had wpport from C3SC. vhmrh h8lp•d us io ow first ￿ fvly IwNl•d try fry the sbJdent• to CJdbury QVS Is ￿)dOubl8dty ow ts"gg9J1 guppth1•r and th￿"1 CAinlnued gUPPOrt in wr •)d sffje(as to kYOW our organlsation h08 be•n p￿01￿ irb ¢y¥alwig oyr ILrtLWU fc¢ V*lu%. M ol tho fwKling r•ul¥al has had • podd¥• Iiryct on lh• org4r#z•tth, *ilh its •18ff lh• sltyJ•nts. Rl• The mllor id0￿rKI￿ flsk to the thwity is IhD Trnndal f•￿t￿n of both the Vala ol GlamDr9an and Cardlff ¢￿Jr￿lI. Ther• L* ¢ortllnung preMur• on Ixmluots. *nd we con•d¢xM ¢h•t l(Kal ￿1{0•, nand•l posltS(m remwnl vèry bgtrrt. are ertCWrngkng 8elMuThlev* and paymMI fwKl*ii to Mlp dfvNIlfy ftndlng am ( 8e881on ¢osts. Though r•rnthi • •￿*r ￿lon r* ¢w*%rr•rrtincome. maintain a *trotr)g wowkiThJ relati¢n*h￿ the Va• •' ¢p•r￿lt￿n￿ managers: inwxces are genwal poid in frjl time *ilh no mw ISB￿$ doblorn. othr rnk¥ identlfied we lh• cA>nknued inueageJ In N8llorW Lmng lh8 nx#i6Th1 costs. VALEPLUS (CYMRU) & VALEPLUS EXTRA TRUSTEES, REPORT VNCLUDING DIRECTORS. REPORT) ICOIrnNUED) FOR THE YEAR ENDED 30 APRIL 2024 Golng Concern Th• g•n•ral ecoromk elknaie, wlh • T•dwllon In d(¥￿'l￿vI *vJ ¢￿￿d all h•v• • ￿￿mean1 impad M v•1•P￿s. Howevèr, V•* ore to IT￿as• (￿r Ixov15Ion 18¥d¥ •r¢ •utt•ssftA In se¢uYlng fund8 to SUPPDrt a(kJltlonal kar￿1￿j ¥*ce at 1188 StreeL V•lll (x>nllnue worklng c4Dsety *lth the k>c41 •jthL￿t*eS and ryganlsaticns •r• cdkniltic obc•Jtlhe frAurn. Pl•n• forth• futurn Vh h•v8 1(l•nllfi•d * l•tl( 01 (tsiig th¢ •w¥l¢e or ￿mIlIT •• ValWA. Op•nkng ￿Jr reeoure£s to It￿le￿3 1¢X￿￿9 tr 8upM h ern￿OyMent, arKI golnlny sklli frcffl 8th001 cdlege and fthlhiih9 th• d•vdoprnent of our curne#)t styd•nts, L% ow lulwè ¥isity). atrutlurni io¥•rn•n¢• and rn•nag•m•nl ValePlu8 IB B Relstered Charfty and B Corryny Llrniled by Gwantoe. Th• g￿emIr¢ document 58 th• MWn0r*￿1um •nd Arbd•8 ol AssOci￿lDn, vKt tm d•t• of 22 2002. T￿ bowd rn•t• •i leul qu•rt•ty lo dlxw• trAxln¢u wry m•U•rn WWYVJ. Tlx 80•￿ ofThJ•tees al d•le ofth• f•pth *Fyovd ￿1$￿ rt. Mr M•rk Anth• Mislsabd Gfaham Mrn Jan Moro•n Mrn ￿￿¢￿10A￿dI*Wa Wanda Je￿% Mr8 J•ne Mvo8 Mr Kdlh IMlli•m¥ Mr D8wd Stev•n8 Mr• Btsth•n TN•i••J •nd th•lr ••l•etlon The trvsteeg r•pre•ert aFW ImFOrtw* kn tl* t*oth crf ￿leF1￿1. Thele tru•t•8• i•h¢tod •c¢ordlry lo t lollowtng c￿er￿,. l. An or *) the fiekl of •r#Yor th￿1￿￿11 2. An intère￿ ty experierKe kn lhe IC￿ ccrfThrMntt￿ of Cardlll Bnd the Val8 of GlamrA 3. AwillingnM• lo porlirip•tg olth* trth'l rd• 4. Proleulonol knuthèdge neNth)rk8 IY•t ¢•n a￿431 vlth oliWIu8 5. Commrtment and tnthusiasm lo be Invofved do a o0001¢4) 6. Wlllingness to WSr<￿¢1y prcfflote or9wkntion in the comrNihty 7. An aburty to Mp fvrKlr•i All tru5tee5 are in￿led t¢* ¢￿serve a b)ard mett#)g Frfior lo them beiry formally IrMt•d to l(xn th? board. Twstees are entftlod to make a d8wn ffx traveliry and othèi relevwtt eXF￿r￿. Thert were no clalmA m•de inllmi y•ar. Govem•nce •nd 8t•fflng TrustÈes k••p Ihty govemonea ¢)p¥•loni ol revi￿ pr￿e a dimate ol ¢c￿￿nu•1 Durirrfj Ihe repcrfung year the day-itrday run￿ng rf tr¢ dwity was the resr4)n8lblty ol Chief Executi Off cer, Klmberfey McKay ha5 OVEraN of nmnir9 th• thar*y. EL4 D￿1¥Y the Htsad of Learrung gnd Cllenl Uel8¢n VALEPLUS (CYMRU) & VALEPLUS ExfRA TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONnNUED) FOR THE YEAR ENDED 30APRIL 2024 Th• thr•• c•ntr• m*nag•rn •t C•fO No S, Rhlm W. ￿[•0 Piitchwd, and R2L. Malr n*blM hA¥• pl4y•d • valu4bl• rc4• in •nthg At th• year.￿d WleF¥u8 omploy•d 22 Omff. V4l•Flu• li kn￿r•I• to h•v• • •tror• le￿ w*inu• lo b• C(Xm￿ to the Vl• r•t•Sn th• ••Thic•• of P￿In¥u1• to •nwr• Y4 w• th• Lthv #11 rel•te* to HR. d hmlth •nd Mf•ty. VALEPLUS (CYMRU) & VALEPLUS ExfRA TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) IcoirnNUED) FOR THE YEAR ENDED 30APRIL 2024 R•f•rnDo• •nd •dmlnlthtsv• d•t•l Ch•ty Ch•rlty numb•r 1099224 Comp•fty numbv 01421a47 Atyl•t•rtd ollk• 118• Hlgh Str•o4 CF62 7DT m•￿ M¢torl• ArKIT•W• 1•ob•f Gr•h•n D￿d 5t•v•n8 John VAIKW Company l•cr•tsry Chl•iex•¢th• Omc•r Ind•p•nd•nt Lkn• Tf•• Cotht Cw**ff G•1• 8￿[n￿ Pw* CwdKICF23 &48 O•nk•rn 140 H¢kn Ro*1 Th• IN•t••i' rwl¥4YS Ipwo￿d Bowd olTru#W•. Deled.. VALEPLUS (CYMRU) & VALEPLUS EXTRA STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 APRIL 2024 The tW$t￿. ar• alw the d*•ct(n ol W•Plu8 ICYMN) & VdePIM Eth for the PWBe ol 1xrfn￿Y law, we r•$ponsitl• for w•paring the Truslees, Rewt and Ihe financial In •cc¥yJance appli¢abk• l•w •nO United lfjngdomAccountNig Stjndwds (Un*ed KlngdLYn G¢Mr•ltyA¢eeptsdkn￿ntr"n9 Prath"cel. Compony Law r•quY•8 th• t￿￿1￿0 to prepw• firwdal •t•l•rn•rt• lor ￿•￿4•1 yw *ffil(119￿ • tru• and tslr vlvw ol the 6tale of affa5rn ol the th?rty aThJ of lh• kncoming r•low￿ and appwcation ol rescurcts, Inc&Jk*)g lh& ome and expendrtwe, ol Iho rjwtrtable c4ywny lty Iha year. In pr•p•Mg the8e •tJtwnwts. the trukn w* reqL*ed to.. . wepAr• the ffin•rKI￿ tht•m•nts ¢n th• golrvJ b•8h ¢nryprw•t• lo y•swkvJ tl¢•l Iho th•rftv VAII (¥)MryJ• In ¢p•r•bon. The Iru8tw• •ré r•wrAibl• tr keeF4ng •dwJot• •ccwnlThJ r•ewth that d1￿¢>•t roosc*i•W JI y Um• th• nn•nd•l ollh• ¢h¥Sly •nd en•t40 Ihwn to ¢n•U￿ th•1 the fin•nd•l stalwn•nl• comply ￿￿th the Companle• A¢t 2006. fvy ore for sjleyfthffj the ••8•t• ol th? choifty and for tI￿r￿j re•sonabl• the pre￿nIN)n *¥J d•t•th offravd jnd kn lff•9ulwll•$. The trusts•i arn r•¥Jon3lble for 8nd *rtegrKy oftho r*•ty 8nd firwdal hftffma14on hidud•J on th• ch8fitys wfrbjble. Lggislolon in th• Unrted ￿n9dly￿ goNwrwThJ th• pr•pernlion dr88￿{nation of fin•nd•l itst•mwrt• may drf•r *orn 1•g1￿￿1¢Yn VALEPLUS (CYMRU) & VALEPLUS ExfRA INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF VALEPLUS (CYMRU) & VALEPLUS EXTRA (th• forthB y•w ended 30Aw'l 2024. R••pDMlbllltl•• •nd IM•lB al 1•p￿t A• lh• tru•t•M of th• th•lty l*vJ tho hs lty th• Pwpol￿ cl you m r•wn•bh kf ikne 2CXXAd). H•thg myxdlth•l Ih fin￿￿•1 ollhe not to b• •L#lhd Part la of the 2008 Ad WKS arg digwe tr knd•pwthnt e￿11th. I f•wI In rn•poc* of my ex•mlnation cl th ¢l•rlV• fin•rKt•l •tatem•rrtA e•rrnd txrt und•r sttlion 145 oftht 20111O* 2011 AL*). In r•rrylng ••¢ilon 14516)Ib) of th• 2011 A Ind•p•nd•nt •Mmln*• •t*t•mtht Sln¢• th• grom *X￿d￿d £260,CLi) ycqff exwyknw mu# b• • rnrmb•r ol • bw 18t•d In lion 145 cl th• 2011 I c4yffm that l •m qu•l(d•d to undort•k• lh• eyAnkn•don b•c•u# l •m • nwnbor •x•mln•th)n rn• ¢•wi to b•ithY that In *ry r•y •ccounlhig r•c(ffd8 *•r• rnt k•pl h) dth• ch•rNy # r••knd ty I•(*￿ 386 ofth• 2Cth*rt or part of •n knd•pwd•nt •x•ff4nth: or tho fln•rdo14t0tem￿l hwe not ts•￿ w•p•r•d kn •ccord•nc• lh• m•thodi and prfi*W• ol tr Slalem•nt ol Rec￿Mend•d Pr•cUc• lor accarfr4J rnp• by opW*ablfj to ¢h•rllle• thdr •c£￿nI1 In •¢¢(*d•K• Tfv*h th¢ Flywthl Sl•nd•fd •r*4k•14• In lh• UK •nd A•P￿ cl I￿[￿1 IFRS 1021. att￿thn •hould b• In INS r•port kn <¥d•r to at the #•t•m•rts lo S_ Andr•w Ho**ll• Az•t•Audtt 8•Mc Iy Do￿. Ume Tm co￿1 Ca￿6￿ G8t• BU￿ P*k Cardiff CF23 8AB Unl•d I￿pdtyn 21 Novernber 2024 VALEPLUS (CYMRU) & VALEPLUS EKfRA STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024 Unr••trlthd R•¥lAct•d lu•d> fvnd• 2QZ4 2024 Tot•1 UTrr•strl¢tsd Rtr•trlct•d lund* fund¥ 2Q23 2023 Total 2023 Not•• OonalloM •)d l¢ga¢l¢s Choni*Jle ¢)Iher tradlrg 10,054 440,312 10.054 468.702 8,845 442,065 28.390 J63.3S7 78,708 43.821 7207 43.821 7,207 33,590 2.603 33.590 2,603 In¥•slm•nts Tot•1 In￿￿• 501.394 28.390 529,784 408,395 7a.YO8 487.103 Rwwng fvTh1 28.6e3 28,683 27,106 27,108 Ch•r5tabh 397,092 46.824 443,918 407,519 30.871 438,390 Tot•1 •xp•ndlturn 425.775 40,824 472,599 434.825 30,871 485,496 N•t Ineomlnglloulgolngl M•ourc•s belor• tr*n•f• 75.619 (18.4341 57.185 {28.230) 47,a37 21.607 GfO•• Iransfw• 3206 13.2661 30,191 130,1911 N•t In¢om•l(•xp•hdllur•l for th• y••rl N•t mov•m•nt In lund• 78,885 P1,71101 57.185 3.861 17.848 21,007 Fund b￿anc￿ #t l May 2023 308.571 23,144 331,715 304.810 5,498 310.108 Fund bal#nc•• at 30 Aprfl 2024 387.456 368,900 306,571 23.144 331.715 Tha 8t8twrtoffinorK>81 hdudes wd recowknod in Ihe year. Al Inc￿lle and eyThliture derive frc4n •ai¥ilm. Tho glatemént ol finand81 act￿41•* the T•qIiTwnwts en kn¢JYne •xpendituro •ccount dtr the C￿P￿￿e$ACl 20￿. 10- VALEPLUS (CYMRU) & VALEPLUS EXTRA BALANCE SHEET AS AT 30 APRIL 2024 2024 2023 Flx•d ••sets T•nglblB al￿tI Curr•nt •M•t• D•blcfs C•ih al b•nk ni h•nd 12 159,107 149.684 13 43.766 218,183 29.844 ie4.703 281.929 214,547 C￿dItOrS., •mouiits tslllng du• 14 132.130) 132.516) N•t curr8nt •si•l• 229.793 182,031 Tot•1 •M•ts l•1• ¢umnt Il•bllth• 331.715 In¢orn• fvnd• 23,144 D•il9n•t•d fvndA Genw81 unrertdcled fvThl• 17 1S9,107 228,349 199,684 108,887 387.456 308.571 388.900 331.715 The company 1$ enmed lo the exefflpt￿ kn th• •JOt Mquhrn￿1 ￿n￿oned kn 1•th1477 oflhq coM￿n*•A¢￿ 2006, for the y*ar •nd•d 30 WI 2024. Th• directors ac*nty*l•dge th8* r•Gp¢thlbth• lor tre reqth￿ts af thè C¢xnpYA•i Act 2006 th re8P•Ct lo accakntlng r•wds •nd the w•pwgllon ol fin*KI￿ •tat•m Th• mèmbttrs hw• Mt r•4uv•d th• compmy lo oblain ￿ ¥￿11 d Its finwKial **twn•nts for tr)0 yew In w•¥tion pKcordanc• ¥Ath Mctknn 478. Th8ie fi￿nd￿l ￿11¢M•nts ￿v• b4￿ Th*h thè prThrfgloro •pplkat4e to wnpanie$ ukniect lo lh• 6mal c¢mpawu•s r•tyme. The fiwd•l tht•menls •pwov*d ty lh• Tn*tth• Math Andr•vA- Ch•lr Company R•glstr•llr•n No. 04421147 11 VALEPLUS (CYMRU) & VALEPLUS WRA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30APRIL 2024 Ac¢ounthig palkl•• Ch*My lftlornallon ffft• li 11a• V41• rl CF82 70T. 1.1 A¢¢ountlng ¢onv•nllon ptAiixbl• In th• UK •nd R•pthk cl IFRS 102) l•ff•¢th l J•FMWy 2019}". Th• c*wlty 51 • Publk B•ndl Eirtly •1 d•frnd ty FAS 102. Th• ¢hwty •dv4nt•p ol SORP ljr FRS 102 Upd•l• kwln 1 not • st•1￿￿* ol C••h FIM. pc4d•• •dDpled we ••t 1.2 0•kng ¢onc•rn th tkn• of •wo¥lrwJ th• an￿dI1 *•I•m*￿. th• Inmtem hv• 4 F••￿•b￿ thl th• ¢hwlty •d•quth ro•rAX￿ lo eYjBtm￿ fty th• fi>r•8•Mb5• fthirn. Thu• th• ￿•10•• 1.J Chrltabl• fund• Lknr•*rKx•d •r• W￿l•bI& •1 dK¥•llon Lrf ol th•* dMrh•b puipn••. Th• •nd um• ofthfr d￿9￿￿tl￿fiWth we Mt ¢xl kn th• to th• •tsi•m•nts. 1.4 In¢ornlng I•￿Ule•¥ Incom• il r•¢W￿led lh• ctrAn"tyi$11g* rt th4ny rwltym*Ke condth hav• m•t. of Ihe don•Uon. performwc• TW• thfenal of the am(￿ I￿%￿• l•x r•coverable In Incom• frum grwts i* r•cogiMwl TA*￿ trAity ha5 *thm•nt to thè ￿Thd$. 8ny porforn￿ mM•vred rell•W •nd18 not defwrnd. 12- VALEPLUS (CYMRUI & VALEPLUS ExfRA NOTES TO THE FINANCIAL STATEMEiifs (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 A¢¢ountlng polkl•• fGtsNllnu•dl Cllent wnd contract irKome ts Invoked •NS Is r¢0)9￿￿ kn the pe￿MI to rf•t•i •ry amounts recthed in asfvance teing deferr•d. Shop •alM ¥nd c•fè •¥l•i ¥rtr r•eoJrW •t th• d•1• ol sal•. Inctyn• frorn recognkned tkn ib T￿•￿4*d. Tumover 18 m¢•#ure(I ￿ t1￿ f* ol th? [￿1￿1er•tIon rtt¢i¥•J ¢¥ receivabh) repro8•nts •mouni4 c¢1v￿0 for goods and Ixovthd In ￿ nvmial ¢OLne of nel crf d18c¢(ml$, VAT t)th 1•4 rd*t•d t•x 1.6 RMour¢•• •xp•nd•d E¥p#rK16tur• li r•cognis•d LYKe there a legal or £￿11n￿tiVe Dblgthn to make a pownent to a thlrd p8ty,11 li probable Ih•t ••lll•meArf be rnqLlr•d •nd th• ol ts obUg•tion c•n b• me•Bured relb•tly. Exp•ndlkn• li the htsdlrgj: . Coth ol r•6Bty fvnd8 ¢0m￿* rnl•tion lo g•xrfirg hK¢m• •$ fundra5th9 and v•rt•, ¢•fé •hcp •ygendthff•. . EXper￿lI￿e on chwll•t4• •th*AtIM •1 c(•l• to thè ￿rthw•n¢4 ol fv th•r Costh p¢¥it4e •r• thlxrt•¢J dlr•th to th• •clfvly tr*y r•knt•. lth•rn co•¢• b• dlre¢tty )llrt￿ed to P*llcuL81 l*¥• bttn allo¢•l•d to AcIMli•i on • bMl* corrtlstsrt ￿th lh• u$• pflh• rn60urctt. Support coth w• th￿ knrAlon8 th•1 a••l•t thtr *tyk of lh• ch•rily bjt do r+ot directy und•rtth chart¢abl• •ctNili•i. Gov•m•nc• coth cryise Al Invomng pubhc accoimt•bty of the chv*y •nd its cc¥npll*n¢* r•gLthJM gwj 1.8 T•nglbl• fix•d ••••ts Tanglble fix￿ assets •r• I￿￿•1Y m••MY•d at rnst •Thl rwwrEd al co•t or vth•lSon, net Lrf deprociotlon And Any knp•Sfflwnt IOMM. D•We&￿On l• r•¢cwd¥ed so as to *x of h•1 th* re8fth*l v•hxs ty4•r ihelr umful I￿￿ rl) folry•*ing b•*.. Fr¢•hc4d knnd twNthr48 Lt4JehokJ Imprrr4•ments Pl•nl and •gutywt IA¢Xor vehlc168 2% 1tr4W Mne strnryht thn• 20% slrnlghl h'n• 8hyht Ine 1.7 Cuh Ind ¢••h •qulv*l•nts C•th and ealh equ1v9￿nI1 Incw c•8h In twmj. hdd •t Gd bank*. shonkntem Ilquld vestm¢nls OTwJinal rnalurilth of ltrne rn(Ythi ty IM •rKI ts￿k ￿er￿ats. mrdi¥fts are $hrn vthhin borrfJ*mgs in wrrent labilth¥. 13- VALEPLUS (CYMRU) & VALEPLUS EXTRA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng pollel IConiinu¢dl 1.8 Fln•ftcl•l Instrum•nts The chartty hag dected to ryyly Itw ￿l￿onI ol S•diM 11 '8•slc FinarKi4 Instnm?￿j. JTrJ SeL*on 12 'Qlher Finanrjal IsGue6' of FRS 102 to fin•ndd *istrum•nts. Flnandol instruments are recow'sed in the charws bo1￿Ce *eet the bècomes party lo thtr ¢ontyaclud prOvI￿On$ of th• instrument Finttna￿ •¥W9 and li•t41me• •re (*Ys¢t. Ihe n•t •m¢xwts fn8ndg18t•lwn•nt8. vthen there is a legally •nf¢f¢tabl• righl to sol off th• Twis•d ￿oUnts and there l¥ an to on B•sic fmncl•l •ss•ts Yaiic fin•nual •sMts. tAthth IrKlud• d•bts• w• m•aAMd Ir&n8#dbn prlce Inthding transathm t￿lS and are Juh•w•ndy cani•d al amryU••d u$kno th• •ffocllva Intwe¥t ￿•th0￿ ttnhss th& cnnsllute8 a finwc¥w trwts•¢YM. the transaclion li rn•asur•d at lh• w•senl vdu¢ of th• ftrtur• rnceirts ¢*vwni•a 8t • mfjrket rare cl Int•re￿, Fln•ndo1 •JBet8 cl•8sMed *• rece￿&01• one y•* w• nc4 ar￿*•1. Der•¢oqnlVon of fln•nel•l Fi￿￿91 asMt• ir• or* the contr•thial rtghls lo Ihe ¢••h IIM frtyn Ihe •wt e¥pk• or are ￿l￿ad, or ￿ th• charity Irwilws th• fln•ndd Aslot •rKI Sub$￿t￿lY all the ri*$ •nd reward$ of •n*rnhlp ¢0 anothéf èntity, ty rf •vwknt ri•k5 rewardi crf W￿￿ShIp •ro r•t•in•d bul c4Jntrol of the aMet ho• tr•n8ferred to •nolher ptyny th•t i• able lo th• •*￿t in Its entwty to ￿ y￿11t￿ trlrd party. Bawc flnAncial lithb4lt1￿. Induthng uedIt￿ •)d bank loanfj •r¢ at tran•Kt¢gn PriCAry unle8$ thè arrangern•rt ￿n511t￿t•S a finwthg tran8adion. *th•ro the dobt i￿1n￿￿ent l* meawr•d al Ihe Pre￿nI value of Ihe ￿￿￿entS th'sc￿nted *t • mwknt r#t• of Inthr•8t. ll•b*s clasiffi•d •• payable thln cn• y••r •[• nol AmortJ￿. Tmde u•tht¢X8 •f• Ot41gakns to pay for gocnstrat4y ccrfnnthd lo twmit)ate the wnpknyrn￿I of an efflF4ryy•• or lo Iemivth b￿tfit& 1,10 Retlr•nwnt benefits Payment8 to defned rdir•mwrt ￿1￿Me$ are chwyed a5 an exp￿ •$ t•1 du¢ -14- VALEPLUS ICYMRU) &VALEPLUS EXTRA NOTES TO THE FINANCIAL STATEhlENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 AccovnllN¥ polkl•s (Contlnu•dl 1.11 Le••4* RenW3 urth opu•tiThJ kne•. are ￿ged as kn eyrb8e ￿ • *J•vJM In• basis D￿r the tèrm al 1.12 T•x•tlon As a regisler•(l Ghwity. Ihe rlwiity Is enthtkd to the 8X•rW1￿ trom las4￿.￿ T•¥pBcI of Incomp and c•pW galn• rec•ived *lth 47N89 of IM 2010 •ecti¢ffi 258 of the T￿1110n of Chary••bh Gains Acl 1992 to •xt•rt th•t th••• ar• •Fph'ed to Ns rjwrttable puryjoses ordy. Crllk•l •ECOUrtlng Mtlm•t•• •Thd ludq•m•Thts In tr* aFWl¢thn oflhe •c<%4rtity pcId￿, th• trugt••i we r•quhed to rn•k• lud9•meTrts. estlrn•tOlB And •ssumO'ons •boul wryiNJ ￿OUnt of aBS•t• li8bllMTrM ihot we not re8dlly •ppJrent from other Igu￿￿. Thè ¢•tkn•t¢8 •nd •18o¢lated •wJmpkn8 •r¥ b••ed ￿ hkntcrfkal oxpwl•n¢• •rKI othw f•#w th•t •r• ¢on¥d•r•iJ 1¢ bo r•bv•ftL A¢bJal may dff•r frtyn the￿ utlmates. Th• ••ttm•t•i •nd undetyry v• On b•s*. R•vknlon• lo •¢¢ounlng 0￿mat•¥ ncojnbwl In th• pwlod •￿rn•t* th rthrfJ•d vtherè tr￿ r•vkn1￿I &ff•ct¥ crty that pèrfod. or In the pert¢d ol the reNi•ion Ind fulure perw)h th• th• revl$kn affocts bcth ojrrert Arml firtur• ptrrtod Don•tloM ind l•gacl•s Unr••trlctsd Unr••trtd•d fund• fund• 2024 2023 D¢Mtlon• •nd 96ft8 10.054 8.84S -15- VALEPLUS (CYMRU) & VALEPLUS ExfRA NOTES TO TrIE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Ch•rtthbl• aed¥ltl•• 202J Client and c4XrtTacl kncom• 8Ltndry i￿• 437.8DEI 1.844 29,249 0,853 2,504 78.70 488.702 442.065 An•lyi* Unre•tylct•d fvnd• 440.312 28.390 363,3S7 78,708 400,702 442.065 • ol Gl•mNg•n G￿Mr￿gIn Volunlwy S•F*•• IGVS) ry TO￿ C+)uncH 3,208 13.286 8,182 30.000 2,116 10,000 E•t Wdl Mov• Mor• Nalth•l Lott•ryAwirdi forAll M￿M￿th•hkn Chwrt*bl• Jcth ATrdrV￿ TnMI Plus Sv4ic• Ue•f En9Ag•WI PrtyJNft￿• knwry4•rn￿l Vo18Plu6 Pood C3CS d• 14.788 3.970 2,244 6.303 000 M•hor CM•trn￿ Gr•nl C4)mmurrity NIOtt￿. Nthn•l Grtd SCGF- ASDAN Tiihrrir Oal Grant Ch•w* Fund Gf4brnorg￿ S•r¥iw. 3.027 1.737 250 100 2,780 29,249 78.709 -16- VALEPLUS (CYMRU) & VALEPLUS ExfRA NOTE8 TO THE FINANCIAL STATEMEpifs (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 Olh•r lrndlng 4ctlvll•• fvnd• 2021 C•fO MI Fwdr•l•l 218 32236 897 15,876 15.604 1,711 43.821 33,6¥J) nd• 202J 7,207 2,603 R•l•Sng tsn fuThd• 2023 Fundr•i8tr9 Café •y4)enthlw• 3.027 18.817 25.391 21x1 27,108 17. VALEPLUS (CYMRU) & VALEPLUS EXTRA NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Cth•rft•bl• 2024 337.419 12.821 321253 8.169 1,739 St•ff Defv•ilm arnl Impdm m1n1l￿0 ¢0 ihop M•t• Gw•ral Ll4nts41 ProJ•rt ￿11¥ 45 13,184 8.2B3 13.329 24.476 13,a40 16,004 1,604 1,017 Tralnlng Sundry Jf,80S Shw• ol C4*ts Iw not• g) Shw• olgo¥•mm ¢41ts rth g) 40.4C J 39,914 11.605 443 111 438,390 An•ly•l• by fvTrd 397,192 46.E ?4 407.619 30,871 443,glJ 438,390 VALEPLUS (CYMRU) & VALEPLUS EKfRA NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE IEAR ENDED 30 APRIL 2024 lupport ¢o•l• Support aw•rn•n 2023 St•ff co D•pr•d•Uon Suntry G•D•rd rwnlrvd co 37.491 1.425 37.491 1.425 35,695 3S,6•S 11 2,720 811 2,720 1.487 In¢hp•ndw* Ex•mIr￿￿On F• L•9•1 and 3.480 12258 3.460 12.25 3.135 8.47D 3,138 e,470 40.403 1S.705 6.111 30,914 11,806 51.619 Ctrtwlt•bl• KiMII•• 40.403 16.708 50.111 31.914 11,eoii 01,619 Govwn¥¢4 co•1• p•ynents io tr* hdep•nd** •x•mtr*•r¥ ol f2,100 (2Q23.. £2.0351 Sx tr Ir*l•F•nd•nt •x•mln•Uon •ThJ £1.38012023'. £1.10011or *¢¢AYrt•w •thl¢M. 10 TN•t••• No tru•tee8 r•mun•r•t•d the ¢WMntor fv >w. No r•1m￿l￿1 for •xpwMs In t￿ y••r. VALEPLUS (CYMRU) & VALEPLUS E￿rRA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 11 Enyloy• Th• Abwag• monthly ofwnFW thrirq tho yow wa8. 2024 Numb 2023 Numb•r 22 23 Empknym•nt co 202J •nd •darfe• sad￿ ¢o•ts Othw p•r*im co Y9.760 19.888 5.262 335,020 17.830 4,108 374.910 35e.048 K•y man•q•m•nt p•rnonn•l Th• kèy m8nag•m•rbt p•r8c*Thl r•cdv•d b￿¢￿* (Ythdlng Mlwy, •mplrysffjr• nthll contrltsrtlons and empfoy•¥ p8n8ion conirfknuti(Thl ldèb.ng £86.25712023: £54,024) EnWoy•rn ••rnlnq > £60k No w•loy•¢# ro￿knd > £80,000 in cuff•nt y•w. R•dund•ncy, ••ttl•m•nt and t•miln•tlon PAyrn•nts Contalnod h wJges and 63knry are 80tllw￿ r4ymwl• thl (2023". E5.0311. Thw¢ w•r• ry) wn¢Junt• ¢xrtthndiNJ •t the or priN yew •nd. 12 T•n9lbts nThl Colt Al l M*y 2023 Addtloni 160.574 19.650 4.59) 7,013 4.019 23.973 196.140 23.609 At 30h•rtl 2024 100.224 4.550 11,¢X2 23,973 219.809 D•prnEI￿lOfi •nd Imp•lrni•nt At 1 k4ay 2023 D•pt•wlkn thorg•d In Ib• year 19.607 10.997 4.550 S.436 851 16.784 2.397 46,457 14245 A130WI 2024 6.287 19.181 60,7W C¥vrylnp arnount At 30 ￿.1 2024 149.540 4.775 4,792 159,107 At 30April 2023 140.aB7 1.607 7.190 149,884 VALEPLUS (CYMRU) & VALEPLUS ExfRA NOTES TO THE FINANCIAL STATEMEMfs (COPrnNUED) FOR THE YEAR ENDED 30 APRIL 2024 IConttnu•dl Th• vdue of the Iwbd inchJded in the •bDve18 £89.000. IJ D•btorn 2024 AmDunts tsmlnq du• *llhln on• yt•r. Tr•d• d• Cth•r d•bt¢Ks 40,371 29,024 3.395 435 43,786 29,844 14 Credll¢M: •mounts f•llnq du• *lthln on• y•w 2024 Z023 Olh•r t•xBlknn and wKl•l m￿lIty Tr•de credtlorn 14.188 12,462 793 6,103 1233 4,037 AccRMIv $2,138 32,sie 16 ft•llv•m•ni b•n•fft •¢h•m D•lkn•d Contrlbutlon •ch•m•• Imm• •r• h•ld Mp•rth fr41m Iho•• ollh• ththty kn •n •th￿tered fvnd. ¢h•rg• ts prc& ty lom d•frwd MrdrflArtk￿ Khwn•# £S,282 (2023.. £4,IrA> Amofft cKrt•l4r￿tr￿J 41 ￿ y•tr•￿ t￿oI9d £1,233 (2023.. £793}. .21- ¥foow g%g"{{ P888 • ¢x t v?or40 %xw ou£wz£l¢kgg?UL)(oorJ I Il 11 '11131 li El I lip" ill- Ix VALEPLUS (CYMRU) & VALEPLUS EXTRA NOTES TO THE FINANCIAL STATEMENTS (coimNUED FOR THE YEAR ENDED 30 APRIL 2024 19 Oporntlng l•u• commllm•nts At the report5ng end d•fe the (Artthrdffj ccfflmlbn•nts for I￿￿• mlntrnum l•Mtt pwi•n* n(Tr¢on￿lL1￿1• op•rnllng l••M•, I￿1 (lu• *• folm.. 2024 INthin onv yw a•M¥•n t•m y• 1.SCKI 4,125 1,500 5.026 5,625 7.126 ao R•l•t•d wty knn••¢llon• Thw• no *1￿0￿bIl rf•iod pwty duthy th• ￿r (2023. nom). -27-