Merthyr Valleys Homes
People Fund
Annual Report and Financial
Statements
Year ended 31 March 2024
Charity no: 1158328

Foreword
As Chair of the Merthyr Valleys Homes People Fund, it has been another busy year
of providing support to tenants of Merthyr Valleys Homes. The charity continues to
support tenants through difficult times.
As a Board of Trustees, we have continued to worf< with officers at Merthyr Valleys
Homes to receive and consider various claims from tenants who have faced issues
providing for themselves and family following tragic accidents and events. It is great
to know that officers at Merthyr Valleys Homes are committed to supporting tenants.
We have also been discussing new ways in which we can support tenants with an
additional focus on prevention. The Board has worked with officers during 2023 to
identify prevention methods and provided £3,000 in funding for a chip pan amnesty.
The initial take up from residents to swap their chip pans to electric air fryers was
overrfrfhelming and has now seen phase two of this prevention work taking place in
2024, with further funding from Merthyr Valleys Homes People Fund.
The charity has continued to support tenants in a traditional way and throughout the
course of the year we have seen an increase in support to those who have
experienced mental health issues, supported families through domestic violence and
other tenants who have been unlucky with flooding and fires. All this contributing to
the positive well-being of the tenants that needed support.
I would like to take this opportunity to give my thanks to 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 charity in such a professional and
efficient manner.
The Board of Trustees look forward to the year ahead and understand that tenants
will once again face further adversity with everyone still battling the cost-of-living
crisis.
The focus for the Board of Trustees moving into 2024125 will be to continue to deliver
the much-needed avenues of support to provide a safer home environment.
l am proud to share, on behalf of the Board of Trustees, our Annual Report and
Financial Statements for 2023124. We look forward to the year ahead.
Deborah Ryan-Newton
Chair

Contents
Reference and Administrative Information
Report of the Trustees for the year ended 31 March 2024
Independent Examinerfs Report to the Trustees
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-15

Merthyr Valleys Homes People Fund
Reference aiid Adiiiiiistrative Informatioii
Charity name:
Merthyr Valleys Homes People Fund
Charity no:
1158328
Trustees:
Sharon Northall
Jamie Scriven
Jill Jones
Deborah Ryan-Newton (Chair)
Joan Marshall
Dawn Jones
Charity's principal address:
Ty Brychan
22 Lansbury Road
Merthyr Tydfil
CF48 1HA
Independent Examiner.
Joanna Roderick Bsc ACA
WJJames&Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

Merthyr Valleys Homes People Fund
Report vf tlie Trustees tLlf the year elided 31 March 2024
The Trustees present their annual report and financial statements of Merthyr Valleys
Homes People Fund {'the Charity,) for the year ended 31 March 2024.
Structure, governance and management
Merthyrvalleys Homes People Fund is a Charitable 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
Terms of Reference
Expenses Policy
Merthyr Valleys Homes Limited provides governance and administrative support to
Merthyr Valleys Homes People Fund. This support is provided free of charge.
Recruitment and appointment of new trustees
The charity trustees may appoint between three and twelve 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
charity.
Objectives and activities
The objects of the charity are to relieve poverty 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 othepNise. 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.
Achievements and perfomiance
Charitable expenditure during 202312024 was £1,184. 5 individual claims were
supported during the year. Tenants were provided with funding to purchase new
flooring, white goods and other essential items. The Charity also contributed £3,300
to Merthyr Valleys Homes to support an Air Fryers Project, enabling tenants to replace
chip pans with an air fryer.

Merthyr Valleys Hornes People Fund
Rcport of the Trustees for the year endcd 31 March 2024 (cont'd)
The Charity spent £706 during the year on govemance costs, mainly audit fees and
professional fees on translation of the accounts. A further £159 was spent on other
costs, mainly website costs and bank charges.
Financlal review
The charity is funded solely by Merthyr Valleys Homes Limited through a donation.
The donation for 202312024 was £10,000. During the year ended 31 March 2024, the
charity generated a surplus of £4,651 and consequently carried forward, into the new
financial year, unrestricted funds of £42,772.
Reserves policy
Any cash reserves at year end will be retained and carried forward into the following
year.
Going Concern
Our assessment of going concem has been based on events or conditions 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 2024125. Our net assets position is strong at £42,772, with liquidity of
£43,455 in cash balances. The Trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the
foreseeable future. For this reason they continue to adopt the going COn￿M basis in
preparing the financial statements.
Trustees
The trustees that seNed during the year were:
Sharon Northall
Jamie Scriven
Jill Jones
Deborah Ryan-Newton
Joan Marshall
Dawn Jones
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 Practi￿).
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 stste
of affairs of the charity and of the incoming resources and application of resources of
the charity for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently.
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 concern 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 Charities 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 2 September 2024 and signed on their behalf by:
Trustee (Deborah Ryan-Newton)
Trustee (Dawn Jones)
Date: 2 September 2024
Date: 2 September 2024

Independent Examiner's Report to the Trustees of Merthyr Valleys
hL)iiieb reupl¢ l iiilLi
Independent examiner's report to the trustees 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 2024.
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 Act,).
I report in respect of my examination of the charity's accounts carried out under section
145 of the Act and in carrying out my examination I have followed all applicable
Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material rnatters 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 concerning 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 concerns and have come across no other matters in conneclion 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.
Omedt
Joanna Roderick Bsc ACA
W J James & Co Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
Date:
Q21oq120L4

Merthyr Valleys Homes People Fund
Stateineiit of Financial Activities
Year ended 31 March 2024
Unrestricted Unrestricted
funds for
funds for
the
the
year ended year ended
31 March
31 March
2024
2023
Note
Income and endowments from:
Donations and legacies
10,000
10,000
Total income and endowments
10,000
10,000
Expenditure on:
Charitable activities
Distress payments
Other costs
(5,190)
(159)
(6,151)
(159)
Total expenditure
(5.349)
(6.310)
Net incomel(expenditure)
4,651
3.690
Net Movement in funds
11
4,651
3,690
Reconciliation of Funds
Total funds brought forward
Total funds carried forward
38,121
42,772
34,431
38,121

Merthyr Valleys Homes People Fund
Year ended 31 March 2024
31
March
2024
31
March
2023
Note
Current Assets
Debtors
Cash at bank and in hand
Total current assets
43,455
43,455
41,011
41,011
Creditors: amounts falling due within one
year
Net current assets
Total Assets less Current liabilities
Net Assets
683
42,772
42,772
42,772
2,890
38.121
38.121
38,121
Funds of the charity
Unrestricted funds
Total funds
10
42,772
42,772
38,121
38,121
The financial statements on pages 8 to 15 were approved and authorised by the
trustees on 2 September 2024 and were signed on its behalf by:
Trustee (Deborah Ryan-Newton)
Trustee (Dawn Jones)

Merthyr Valleys Homes People Fund
Year elided 31 March 2024
1) Basis of preparing the financial statements
The financial statements of the Charity, which is a public benefit entity under FRS102,
have been prepared in accordance 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 Standard
applicable in the UK and Republic of Ireland (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 pemiitted by FRS102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland,:
the requirements of Section 7 Statement of Cash Flows.
Legal fonn
The Charity is a charitable incorporated organisation.
2) Accounting Policies
a) Income and endowments
These are included in the Statement of Financial Activities when:
the charity becomes entitled to the resources
the trustees are virtually certain they will receive the resources. and
the monetary value can be measured with sufficient reliability
Gifts in kind are included in the income and expenditure account where they are
applied in carrying out charitable activities. where the company would otheNiise have
t.o purchase the donated facility and the benefit is both quantifiable and material. The
quantifiable benefit is shown as both incoming and expended resources wtthin 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 received 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.
10

Merthyr Valleys Homes People Fund
Notes to the Financial Statenieiits
Year ended 31 March 2024
b) Expenditure
Liabilities are recognised as soon as there is a legal or constructive 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
the 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, the
costs of trustee meetings and cost of any legal advice to trustees on governance or
constitLrtional 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 charity.
e) Charitable expenditure
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 concem basis as the trustees
believe that no material uncertainties exist.
h) Taxation
The charity is exempt from tax on its charitable activities.
i) Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the
discretion of the trustees.

Merthyr Valleys Homes People Fund
Noles to tlie Fiiiaiicial Stateii)ent5
Year ended 31 March 2024
3) Analysis of income and endowments
Year
Year
ended
ended
31 March 31 March
2024
2023
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
2024
2023
Charitable Costs
Air Fryers Project
Replacement carpets and furniture
(flooding and fire)
Donations
Support costs
3,300
1,184
5,511
706
5,190
640
6,151
Year
Year
ended
ended
31 March 31 March
2024
2023
Support Costs
Support Costs being:
Governance costs (Note 7)
706
706
640
640
Year
Year
ended
ended
31 March 31 March
2024
2023
Other costs
Charity website costs
Bank charges
97
62
159
97
62
159
12

Merthyr Valleys Homes People Fund
Year ended 31 March 2024
S) Trustees, remuneration and benefits
There was no trustees, remuneration or other benefits either during the year ended
31 March 2024, or during the year ended 31 March 2023.
The trustees did not receive reimbursement for any expenses during the year
ended 31 March 2024 (2023: £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
2024
2023
Independent examiners fees
Translation Costs
384
322
706
360
280
640
8) Debtors: amounts falling due within one year
Year
ended 31
March
2024
Year
ended 31
March
2023
Other debtors
13

Merthyr Valleys Homes People Fund
Yeai ended 31 March 2024
9) Creditors: amounts falling due within one year
Year
Year
ended
ended
31 March 31 March
2024
2023
Independent examiners fees
Replacement furniturelwhite goodslcarpets
Other Creditors
372
360
2,230
300
2,890
311
683
10) Analysis of net assets between funds
Year
Year
ended
ended
31 March 31 March
2023
2024
Unrestricted funds
Net current assets
42,772
38,121
11) Movement in funds
Year
Year
ended
ended
31 March 31 March
2024
2023
Unrestricted funds
At beginning of year
Income
Expenditure
Transfers between funds
38,121
10.000
(5,349)
34,431
10,000
(6,310)
42,772
12) Transactions with related parties
The charity is funded solely by Merthyr Valleys Homes Limited through a donation.
The donation for 202312024 was £10,000 (2023: £10,000). Merthyr Valleys Homes
Limited also provides governance and administrative support to Merthyr Valleys
Homes People Fund. This support is provided free of charge.
14

Merthyr Valleys Homes People Fund
Year ended 31 fdarch 2024
13) Ultimate controlling party
The charity is controlled by its Board of Trustees.
15