Merthyr Valleys Homes
People Fund
Annual Report and Financial
Statements
Year ended 31 March 2023
Charity no: 1158328

Foreword
It has been another busy year for the Board of Trustees of Merthyr Valleys Homes
People Fund, providing continuous support to local residents, via Merthyr Valleys
Homes to those most in need and for those who have fallen on difficult times.
We have continued to recelve various claims from tenants who have faced issues
providing for themselves and family following tragic accidents and events. It's great
to know that staff at Merthyr Valleys Homes are committed and dedicated to
identifying support for tenants when there a￿ no altemative solutions.
The Board of Truslees have continued grow and we have been lucky to secure new
Trustees. So, a note of welcome to Dawn Jones who joined us during the year.
Also. a thank you to Tina Ryan-Newton who has been a trustee for many years, who
retired this year and stepped down as a Trustee. A big thank you for your time and
support given and a thank you to those who have lolned us this year,. I look forward
to working with you 811.
The charity has continued to support tenants in a broader way and throughout the
course of the year we have seen an increase of suppx)rt to those who have
experienced mental health issues, supported families through domestic violence and
many other tenants who have been unlucky with flooding and fires. All this
contributing to the positive well-being of the tenants Ihat needed support.
It would be remiss of me not to thank the staff at Merthyr Valleys Homes for their
continued and dedicated support in providing the funding for this charity. Thank you
as well, to the staff who assist in the running of the charity, as without this support. it
just would not be possible to run this charitable cause in the professional and
efficient manner.
The Board of Trustees look forward to the year ahead and understand that tenants
will face further adversity with the cost-of-living crisis. It's inevitable that these will be
challenging times, but l am sure that the People Fund will continue to deliver needed
avenues of support as we move through 2023124. We will be discussing ways of
supporting tenants in alternative ways which will support a safer home environment,
meaning that the Board will consider preventative measures in a different way. It is
hoped that we will be able to report on the progress made in next year's report.
l am proud to share. on behalf of the Board of Trustees. our Annual Report and
Financlal Statements for 2022123. We look forward to Ihe year ahead and strive to
exp8nd our Board as we continue to support tenants and communities.
Deborah Ryan-Newton
Chair

Contents
Pa
Referen￿ and Administrative Information
Report of the Trustees for the year ended 31 March 2023
4-6
Independent Examinerfs Report lo the Trustees
Statement of Financial Activities
Balan￿ Sheet
Notes to the Financial Statements
10-15

Merthyr Valleys Homes People Fund
Reference and Administrative Information
Charity name:
Merthyr Valleys Homes People Fund
Charity no:
1158328
Trustees.,
Sharon Northall
Tina RYan-Ne￿on (resigned 14.09.2022)
Jamie Scriven
Jill Jones
Deborah Ryan-Newton (Chair)
Joan Marshall
Dawn Jones (appointed 09.05.2022}
Charity's principal address:
Ty Brychan
22 Lansbury Road
Merthyr Tydfil
CF48 1 HA
Independent Examiner:
Joanna Roderick Bsc ACA
WJJames&Co
Chartered Accountanls
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

Merthyr Valleys Homes People Fund
Report of the Trustees for the year ended 31 March 2023
The Trustees present thelr annual report and financial ststements of Merthyr Valleys
Homes People Fund ('the Charf(y') for the year ended 31 March 2023.
Structure, governanco and management
Merthyr Valleys Homes People Fund Is a Charitsble Incorporated Organisation Limited
by Guarantee. The charity was registered with the Charity Commission, in England
and Wales. on 22 August 2014 and renamed 'Merthyr Valleys Homes People Fund.
on 27 November 2017 following a constitutional Change. The charity is governed by
its constitution.
The following policies have been adopted by the Charity:
Trustees Code of Conduct
Tenns of Reference
Expenses Policy
Merthyr Valleys Homes Limited provides govemance and administrative support to
Merthyr Valleys Homes People Fund. This support is provided free of charge.
Recruitment and appolntment of n•w trustees
The charity twstees may appoint between three and ￿e1ve charity trustees in total.
Any appointment must be made by the charity trustees at a validly held meeting held
according to the ordinary practice of the charity trustees. In selecting individuals for
appointment as appointed charity trustees, the charity trustees must have regard to
the skills, knowledge and experience needed for the effective administration of the
charty.
Objectives and activltles
The objects of the charity are to relleve povety or financial hardship in Merthyr Tydfil.
South Wales. In particular without limitation by assisting tenants of Merthyr Valleys
Homes Limited with losses following a major disaster or incident (for example without
limitation flooding, fire, theft, domestic violence. mental illness or homelessness)
where the tenant, through lack of finance or otherwise. would find it difficult to pay, as
the charity trustees shall in their absolute discretion decide from time to time.
All trustees have due regard to the Charity Commission's Public Benefit Guidance
when reviewing the charity's aims and objectives and setting the framework for
awarding financial support.
Achlevements and perforniance
Charitable expenditure during 202212023 was £5,511. 10 individual clalms were
supported during the year. Tenants were provided with funding to purchase new
flooring, white goods and other essential items.
The Charity spent £640 during the year on govemance costs, mainly audit fees and
professional fees on printing and translation ofthe accounts. Afurther£159 was spenl
on other costs. mainly website costs and bank charges.

Merthyr Valleys Homes People Fund
Report of the Trustees for the year ended 31 March 2023 (cont'd}
Financial review
The charity is funded solely by Merthyr Valleys Homes Limtted through a donation.
The donation for 202212023 was £10,000. During the year ended 31 March 2023, the
charity generated a surplus of £3,690 and consequently carried fomard, into the new
financial year, unrestricted funds of £38,121.
Reserves policy
Any cash reserves at year end will be retained and carried fomard inlo the following
year.
Going Concern
Our assessment of going cOn￿M has b88n based on events or condlllons that could
cast significant doubt on our ability to Continue in operational existence. Our income
stream is unaffected as Merthyr Valleys Homes has committed to provide funding of
£10.000 for 2022123. Our net assets position is strong at £38,121, with liquidity of
£41.011 in cash balances. The Trustees have a reasonable expectation that the
charity has adequate resoU￿S to continue in operational existence for the
foreseeable ftjture. For this reason they continue lo adopt the going concern basis in
preparing the financial statements.
Trustees
The trustees that served durirMJ the year were:
Sharon Northall
Tina Ryan-Newton (resigned 14.09.2022)
Jamie Scriven
Jill Jones
Deborah Ryan-Newton
Joan Marshall
Dawn Jones {apFx)inted 09.05.2022)
Trustees, responsibilities statement
The trustees are responsible for preparing the Trustees, Annual Report and the
financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare
financial statements for each financial year which give a true and fair view of the state
of affairs of the charity and of the incoming resources and application of resources of
the charity for that period.
In preparing these financial ststements. the truslees are required to-
select suitable accounting policies and then apply them consistenlly.
observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to
any material departures disclosed and explained in the financial statements.,

prepare the financial statements on the going concem basis unless it is
inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and enable them
to ensure that the financial statements comply with the Charltles Act 2011, the
Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust
deed. 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.
Approved by the Trustees on 4 September 2023 and signed on their behalf by:
//.g
Trustee (Deborah Ryan-Newion)
Trustee (Jill Jones)
Date: 4 September 2023
Date: 4 September 2023

Independent Examiner's Report to the Trustees of Merthyr Valleys
Homes People Fund
Independent examiner's report to the trustses of Merthyr Valleys
Homes People Fund
I report to the charity trustees on my examination of the accounts of Merthyr Valleys
Homes People Fund for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Acr).
I report in respect of my examination of the charty's accounts carried out under section
145 of the Act and in carying out my examination I have followed all applicable
Dlrections given by the Charity Commission under section 145(5){b) of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my
attention in connection with the examination giving me cause to believe that in any
material respect..
1. Accounting records were not kept in respect of the charity as required by
section 130 of the Act. or
2. The accounts do not accord with those records,. or
3. The accounts do not comply with the applicable requirements con￿MIng the
form and content of accounts set out in the Charities (Accounts and Reports)
Regulations 2008 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.
I have no concems and have come across no other matters in connection ￿1h the
examination to which attention should be drawn in this report in order to enable
proper understanding of the accounts to be reached.
Joanna Roderick Bsc ACA
W J James & Co Chartered Acwuntanls
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
Date:
0410q1￿23

Merthyr Valleys Homes People Fund
Statement of FinanGial Activities
Year ended 31 March 2023
Unrestricted Unrestricted
funds for
funds for
the
th•
year ended year ended
31 March
31 March
2023
2022
Note
Income and endowments from:
Donations and legacies
10,000
10,000
Total Income and endowments
10.000
10,000
Expenditure on:
Charitable activitios
Distress payments
Other cosls
(6,151)
(159)
14,085)
(159)
Total expendlture
(6,310)
(4,244)
Net incomel(expenditure)
3,690
5,756
Net Movement in funds
11
3,690
5,756
Reconciliation of Funds
Total funds brought fO￿ard
Totsl funds carried forward
28,675
34,431

Merthyr Valleys Homes People Fund
Balance Sheet
Year ended 31 March 2023
31
March
2023
31
March
2022
Note
Current Assets
Debtors
Cash at bank and In hand
Total current assets
170
35,712
35,882
41,011
41,011
Creditors.. amounts falling due within one
year
Net current assets
Total As￿ts less Current liabilities
Net Assets
2,890
38,121
38,121
1,451
34,431
34,431
34,431
Funds of the charlty
Unrestricted funds
Total funds
10
38,121
34,431
The financial statements on pages 8 to 15 were approved and authorised by the
trustees on 4 September 2023 and were signed on its behalf by..
//.g
Trustee (Deborah Ryan-Newton)
Trustee (Jill Jones)

Merthyr Valleys Homes People Fund
Notes to the Financial Statements
Year ended 31 March 2023
1) Basis of preparing the financial statements
The financial statements of the Charity. which is a public benefft entity under FRS102.
have been prepared in accordan￿ with the Charities SORP {FRS102) 'Accounting
and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Stsndard
applicable in the UK and Republic of I￿land (FRS102) (effective 1 January 2015),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the
UK and Republic of Ireland, and the Charities Act 2011. The financial statements have
been prepared under the historical cost convention.
Financial Reporting Stsndard 102- reduced disclosure exemptions
The Charity has taken advantage of the following disclosure exemption in preparing
these financial statements, as permitted by FRS102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland.:
the requirements of Section 7 Statement of Cash Flows.
Legal form
The Charity is a charitable incorporated organisation.
2) Accountlng Policies
a) Income and endowments
These are included in the Statement of Financial Activities when:
the charty becomes entitled to the resources
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with SLrfficient reliability
Gifts In kind are included in the income and expenditure account where they are
applied in carying out charitable activities. where the company would otherwise have
to purchase the donated facility and the benefit is both quantifiable and material. The
quantifiable benefit is shown as both incoming and expended resources within the
appropriate funds. Where the gift is an asset it is treated as income and taken to stock
or fixed assets as appropriate. The value of services provided by volunteers is not
quantified. Merthyr Valleys Homes Limited provides govemance and administrative
support to Merthyr Valleys Homes People Fund. This support is provided free of
charge.
Voluntary income re￿iVed by way of grants, gifts or donations is included in full on
receipt unless it is subject to a condition when it is treated as deferred income.
io

Merthyr Valleys Homes People Fund
Notes to the Flnancial Statements
Year ended 31 March 2023
b> Expenditure
Liabilities are recognised as soon as there is a legal or constwctive obligation
committing the charity to pay out the resources. All expenditure is accounted for on an
accruals basis. Grants payable are payments made to third parties in furtherance of
Ihe charitable objects of the Fund. These are only recognised in the accounts when a
commitment has been made and there are no conditions to be met relating to the grant
which remain in the control of the charity.
c) Governance costs
These include costs of the preparation and examination of statutory accounts, Ihe
costs of trustee meetings and cost of any legal advice lo trustees on govemance or
constitutional matters.
d) Support costs
Support costs are those functions that assist the work of the charity but do not directly
undertake charitable activities. Support costs can include back office costs, finance,
personnel. payroll and governance costs which support the activities of the tharity.
e) Charitable expendlture
Charitable expenditure comprises those costs incurred by the charity in the delivery of
its activities and services for its beneficiaries. It includes the costs that can be
attributed directly to those activities and those costs of an indirect nature necessary to
support them.
fj Debtors and creditors receivablelpayable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one
year are recorded at transaction price.
g) Going concern
The financial statements have been prepared on a going con￿rn basis as the truslees
believe that no material uncertainties exist.
h) Taxation
The charity is exempt from tax on its charitable activities.
l) Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at Ihe
discretion of the trustees.

Merthyr Valleys Homes People Fund
Notes to the Financial Statements
Year ended 31 March 2023
3) Analysis of income and endowments
Year
Year
ended
ended
31 March 31 March
2023
2022
Donations and legacies
Donation from Merthyr Valleys Homes Limited
Total
10.000
10,000
10.000
10,000
4) Analysis of expenditure
Year
Year
ended
ended
31 March 31 March
2023
2022
Charitable Costs
Replacement carpets and fumiture
(flooding and fire)
Donations
Support costs
5,511
2.g24
164
997
4,085
640
6.151
Year
Year
endod
ended
31 March 31 March
2023
2022
Support Costs
Support Costs being:
Governan￿ costs (Note 7)
640
640
997
997
Year
Year
ended
ended
31 March 31 March
2023
2022
Othèr costs
Charity website costs
Bank charges
97
62
159
97
62
159
12

Merthyr Valleys Homes People Fund
Notes to the Financial Statements
Year ended 31 March 2023
S) Trustees, remuneration and benefits
There was no trustees, remuneration or other benefrts either during the year ended
31 March 2023, or during the year ended 31 March 2022.
The trustees did not receive reimbursement for any expenses during the year
ended 31 March 2023 (2022: £nil).
6) Staff costs
No staff are employed by the charity, so consequently. no staff costs are incurred.
7) Fees for examination or audit of the accounts
Year
Year
ended
ended
31 March 31 March
2023
2022
Independent examiners fees
Translatron Costs
360
637
997
280
640
8) Debtors: amounts falllng due within one year
Year
ended 31
March
2023
Year
ended 31
March
2022
Other debtors
170
13

Merthyr Valleys Hornes People Fund
Notes to the Financial Statements
Year ended 31 March 2023
g) Creditors: amounts falling due within one year
Year
Year
ended
ended
31 March 31 March
2023
2022
Independenl examiners fees
Replacement fumiturelwhite goodslcarpets
Other Creditors
360
2,230
300
360
771
320
l 0) Analysis of net assets between funds
Year
Year
ended
ended
31 March 31 March
2023
2022
Unrestrlcted funds
Net current assets
38,121
34,431
11) Movement in funds
Year
Year
ended
ended
31 March 31 March
2023
2022
Unrestricted funds
At beginning of year
Incorne
Expenditure
Transfers between funds
34.431
10,000
(6.310)
28,675
10,000
(4,244)
38,121
34.431
12) Transactions with related partles
The charity is funded solely by Merthyr Valleys Homes Limiled through a donaiion.
The donation for 202212023 was £10.CQO (2022.. £10.000). Merthyr Valleys Hornes
Limited also provides govemance and administrative support to Mgrthyr Valleys
Homes People Fund. This support is provbded free of charge.
14

Merthyr Valleys Homes People Fund
Notes to the Financial Statements
Year ended 31 March 2023
13) Ultimate controlling party
The charity is controlled by its Board of Truslees.
15