Charity registration number: 1159465
## **Valleys Family Church CIO**
Annual Report and Financial Statements for the Year Ended 31 March 2021
## **Valleys Family Church CIO**
## **Contents**
|Reference and Administrative Details|……….1|
|---|---|
|Trustees' Report|2 to 6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Balance Sheet|9|
|Notes to the financial statements|10 to 14|
## **Valleys Family Church CIO Reference and Administrative Details**
|**Charity name**|Valleys Family Church CIO|
|---|---|
|**Charity registration number**|1159465|
|**Principal office**|Tabor Centre (Tabor Baptist Chapel)|
||18 Davies Street, Brynmawr,|
||Blaenau Gwent|
||NP23 4AD|
|**Registered office**|Tabor Centre (Tabor Baptist Chapel)|
||18 Davies Street, Brynmawr,|
||Blaenau Gwent|
||NP23 4AD|
|**Trustees**|David Tucker, Chairperson|
||Patricia Poynter|
||Stuart Wheatman, Secretary|
||Dafydd Robbins|
||Philip Gibson, Treasurer until 23rdSeptember|
||Graham Powell, Treasurer from 23rdSeptember|
|**Pastor**|Stuart Wheatman|
|**Treasurer**|Philip Gibson|
|**Bankers**|Lloyds Bank|
||25 Market Street|
||Ebbw Vale|
||NP23 6HP|
|**Accountant**|C Management Services|
||69 Velindre Road|
||Whitchurch|
||Cardiff|
||CF14 2TF|
Page 1
## **Valleys Family Church CIO**
## **Trustees' Report**
The Trustees have pleasure in submitting the Report and Accounts for the year to 31st March 2021.
## **Structure, Governance and Management**
## **Nature of organisation**
Valleys Family Church is a Charitable Incorporated Organisation registered with the Charity Commission of England and Wales (Registration Number 1159465). The Church itself began in 2006 being planted out from a Church in Abergavenny known as Abergavenny Family Church (now Gateway Church Abergavenny). At first Valleys Family Church was known as Brynmawr Family Church and came under Abergavenny Family Church's constitution. On 26th February 2012 Brynmawr Family Church initiated its own Trust Deed under the name of Valleys Family Church and then transitioned to independence from Abergavenny Family Church in April 2012. It was during March 2013 that Valleys Family Church was accepted by the Charities Commission as a charity (charity number 1151216). This charity was then closed on 29th April 2015 in order to become amalgamated into the organisation's present CIO status (that is charity number 1159465).
## **Appointment of Trustees**
Initially the leadership team appointed the first trustees, prior to CIO status. Further trustees appointments are by majority vote of the trustees, with discussion and advice from the leadership team.
## **Income**
All Trustees (except the Pastor, Stuart Wheatman) give their time voluntarily and receive no benefits from the charity. The Pastor is employed by Valleys Family Church and receives a salary set in the yearly budget agreed between the leadership of the Church and the trustees of the charity.
Valleys Family Church is part of a larger network of Churches within the Catalyst Network of Newfrontiers. Although a part of this larger grouping of Churches, Valleys Family Church relies on voluntary contributions from those attending the Church rather than receiving a regular income from Newfrontiers or from any other similar outside body. Some of the charity's costs are covered on occasions by grants applied for from various sources.
VFC is a not-for-profit organisation, which means that any profits made by Valleys Family Church (for instance tuck sold at the Youth Club) are put back into the organisation or used for the benefit of other charities rather than being to the benefit of shareholders or the like.
## **Risk Management**
The Trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
## **Organisational Structure**
The Trustees are the legal body of the CIO and are its members with voting rights and governing responsibilities. The congregation of Valleys Family Church, and particularly its leadership team, implement the running of a vibrant Church within the community on behalf of the trustees. The congregation itself does not presently have a formal membership, but rather accepts into membership all who identify with its vision and values and are committed to attending.
The Trustees meet at least four times annually. The leadership team of the congregation meet at least monthly, but mostly once a fortnight, alternating between leadership meetings and prayer meetings on behalf of the Church and Community. The General Meeting happens yearly and the budget is set out, the charitable purposes accomplished are celebrated and vision for the next year is outlined as well as valuable feedback and questions received from the wider congregation and service users.
## **Responsibilities of the Trustees**
Charity law requires the Trustees to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.
Page 2
## **Valleys Family Church CIO**
## **Trustees' Report**
We are required to:
1. Select suitable accounting policies and apply them consistently
2. Make judgements and estimates that are reasonable and prudent
3. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts
4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **Our Aims and Objectives**
Our charity's purposes are twofold, as set out in our CIO Governing Document registered with Charities Commission in December 2014; namely, the advancement of Religion and the relief of poverty. These are presented in our Governing Document as follows:
To advance the Christian faith [in accordance with the Statement of Beliefs] in such ways and in such parts of the United Kingdom or the world as the Charity Trustees from time to time may think fit;
To relieve sickness and poverty and to promote and preserve good health by the provision of funds, goods or services of any kind, in such parts of the United Kingdom or the world as the Charity Trustees from time to time may think fit.
## **Activities this financial year**
We have done various activities throughout this year which have brought public benefit to many through the advancement of religion and the relief of poverty. Here is an overview:
## **1 Regular Church Meetings**
The financial year started during a lockdown due to the Covid 19 pandemic. In line with Government recommendations we had previously stopped physical meetings and moved to online meetings instead, on Facebook Live, to prevent the spread of Covid. We decided to start our Sunday meetings an hour later (11am) and have shorter services. Going online enabled many new people in the community to connect with the meetings, both on an occasional and on a regular basis. It also at times engaged with people further afield in other countries. During the lockdown our worship team chose songs each week and individually did a video from their homes which was then centrally mixed ready for the Sunday meetings. Our particular thanks to Peter for doing the video mixing for this. We also did a number of online services where we took communion, and people could join in with this from home. On Tuesday evenings we moved our physical Bible study meetings online using Facebook live in an interactive way so that participants could put up comments in real time during the study. We started off by going through the Gospel of Mark. Then from June 2020 we went through the geographical locations of the Bible using Google Earth, starting from creation in the Book of Genesis, covering the whole Old Testament period, finishing with the Israelites' return from exile to the land of Israel. From October studied 2Corinthians; and from January we went through the book of Daniel. All sessions can be viewed again on Valleys Family Church Facebook page if people would like to catch up on any of the sessions. After a Trustees and VFC leadership team meeting via Zoom we planned to resume physical meetings at Tabor in mid September. Although certain restrictions had been lifted for places of worship a little before this we wanted to allow a bit more time until the shielding requirements had been lifted for those who were in a more vulnerable category. When we resumed physical meetings at Tabor we decided to continue to stream these services online so that those needing to shield, or still concerned about covid risks could also take part from home. We kept to the later 11am start and shorter services to help keep continuity. Many interventions were adopted in order to maintain a safe environment for all: risks assessments, PPE, cleaning products and practices, one-way systems, ventilation, track and trace monitoring, social distancing, seat layouts and allocation, facemasks, non-congregational singing, use of pre-recorded worship, stopping
Page 3
## **Valleys Family Church CIO**
## **Trustees' Report**
teas and coffees and so on. Changes were only made as and when legally permitted, and when it was assessed to be safe to do so. A covid grant from the National Lottery helped with the purchase of essential Covid related items. From Sunday 27th September Blaenau Gwent went into a local closed border so that people outside the Borough could no longer attend Sunday meetings. The live streaming of meetings was then very helpful in keeping us connected with friends not living in Blaenau Gwent but still very much part of our community whilst the local closed border was in force. Sadly, however, on Sunday 25th October we had to move back to online only services due to the high numbers of Covid cases in the locality. Again we were able to resume public meetings on Sunday 15th November.
## **2 Children Youth and School’s Work**
The pandemic meant that a number of meetings were unable to continue operating until restrictions eased up again. This included our regular Monday evening youth club, the Hub. Sunday School and youth on a Sunday also sadly had to stop due to Covid restrictions. We then put special activities and Bible stories on the weekly news sheet so that parents could use it with their children until things could resume again. Sadly assemblies in local schools also had to stop due to the pandemic, and we are still waiting until restrictions lift again so that this important work can resume. At Christmas and at Easter Katy Treharne and Sarah Singh kindly made up gift bags/activity packs for the children and Mary Price kindly donated chocolate gifts, our thanks to each of them for this. Our VFC Christmas service was all planned for the 20[th] December but Wales Tier 4 restrictions came in from midnight on Saturday 19[th] December so this service was changed from being a physical gathering to an online-only meeting. Despite this it was a fantastic service, with the highlight being a nativity story read by adults and children from the Church using video clips they had sent in. The nativity story was written by Christian Storyteller Bob Hartman, and a copy of the story was included in the children's activity packs.
## **3 Connecting Socially**
We welcomed new members during the lockdown, and helped them feel connected through Zoom, the Facebook group, emailed news sheets, online Bible studies and Sunday live streamed meetings. Just prior to us restarting physical meetings, during the August bank holiday we arranged for a social in Brynmawr welfare park, keeping to the numbers permitted at the time, where people could bring their own picnic and enjoy company, albeit socially distanced. This was especially helpful for those who had been feeling socially isolated due to the pandemic. During the lockdown, in order to help social interaction we did weekly 'Virtual Cafe' meet-ups, online using the Zoom platform. These began in April 2020 and continue until September, and greatly helped people keep connected with one another. In February and March we again had Zoom social catch-up sessions open to whoever wanted to take part. Our weekly emailed news sheet also helped to bring some normality back at a time when nothing seemed normal. It did this by remembering people's birthdays and marking special occasions such as Mothering Sunday, Father's Day, Remembrance Sunday, Christmas and Easter. It also provided details of how to access practical support, such as Foodbanks, help with shopping and medical supplies for those shielding; as well as details of helpful apps to grow spiritually and help lift anxiety during lockdown. Social interaction was also helped by the online chat facility during our live streaming services and Bible Studies on Facebook live. Our online services included the opportunity for people to send in their own videos with a greeting, or sharing about a hobby or interest. A number of people sent videos in, including some sketches with puppets, some great ukulele playing and some spiritual uplifting messages from people whilst out on their permitted daily exercise routes . In May we joined with Hope Church, Rhydyfelin, Pontypridd for an online pub quiz social evening via Zoom. We also joined with them on Zoom in May for an inspirational evening where Julian and Sarah Richards, leaders of Cornerstone Church in Swansea, were sharing faith-building stories from their own experiences in leadership through the years.
## **4 Other Areas of Outreach**
A number of our outreach events had to be cancelled due to the pandemic. This included the weekly local Community Choir, and also the Atlanta Gospel Choir, whom we had previously planned to do a concert in the Tabor Centre. Instead their home church, New Hope Atlanta did an online outreach service specifically for Wales, which we were able to watch and interact with. We were also planning to take part in the Franklin Graham UK outreach, but again this had to be cancelled due to the pandemic. This year we publicised an online link on social media to the Trafalgar Square Passion play, which was a repeat of the 2019 year's performance due to covid restrictions.
## **5 Charitable Deeds/Mercy Mission**
We continued to run Foodbank every Friday morning from 10am until 1pm. This service was especially needed during the lockdown periods when people's incomes were affected by the pandemic. In order to make working practise safer the Trussel Trust initiated a new rule that only volunteers in lower risk categories were permitted to volunteer. This has
Page 4
## **Valleys Family Church CIO**
## **Trustees' Report**
meant that a number of our very much appreciated staff were no longer able to volunteer and some of the Foodbanks in Blaenau Gwent had to close as a result, leaving Ebbw Vale, Brynmawr and Beaufort to cover the whole of Blaenau Gwent between them. Also, as an additional measure to reduce the spread of Covid, we moved to a delivery only service. Our thanks to Tai Calon for sending delivery drivers to help with this, during our first phase of lockdown, and to Katy Treharne for taking this on after Tai Calon were no longer able to assist. We would also like to thank all of the staff for their hard work and dedication at such a crucial time. As a Church we sponsor a child in Kenya named Jane, and have continued to write to her and receive letters from her throughout the year, and give updates on our news sheet. It was concerning hearing from her how the pandemic is also affecting people's lives in Kenya, and this reminded us that this is a global problem we need to tackle together. Our thanks to Linda Powell for co-ordinating letters to Jane throughout the year.
## **6 Networking and Prayer**
We continue to be a part of Catalyst Network of Churches. This is one of the spheres of the Newfrontiers network of Churches worldwide. As a Church in Catalyst we are overseen by Andrew and Liz Davies who lead Hope Church in Pontypridd, and are grateful for their ongoing support and encouragement. Due to the pandemic, the Catalyst Festival 2020 was cancelled, and instead in May we publicised links to their online equivalent, which included talks from previous years as well as meetings for the youth. In early October we had a season of focussed prayer and fasting as a Church, as covid numbers were particularly high in our local community. Some had known the pain of losing family members due to covid, or were struggling to get through the virus or deal with the effects of long covid. As well as praying for healing for those who were sick and comfort for those bereaved we also prayed for the Gospel to continue to impact lives at such a difficult time for all. We prayed for our local NHS and care workers in the private sector, as Covid numbers in Blaenau Gwent were one of the highest in the UK. In November our friends in the Well Church Loughborough wanted to do something positive as they had heard of the high numbers of cases of Covid in our Borough; so various individuals from the Church did their own prayer walks, praying for us as a Church and for our community. They worked out that Brynmawr was 138 miles away, but in total they managed to walk over 200 miles! We also prayed for them throughout the week, using prayer pointers they had sent to us. On Sunday 7[th] March New Wine Cymru (a network we are part of, consisting of different denominations of Churches working together in Wales) held an online prayer meeting to pray for Wales. The First Minister, Mark Drakeford, was also invited to the meeting, and he shared his thanks for all the faith communities are doing, and we were able to pray for him and the Welsh Government as they lead the country forward through this testing time. In March, as we approached Easter we were able to join in online with a live session with Jews For Jesus where a Passover Meal was explained by a family living in Jerusalem who were Messianic Jews. This was very informative and a great way to network with the great work Jews for Jesus are doing.
## **7 Tabor Centre**
The '20-'21 financial year has been a great challenge for the Tabor Centre. Our Centre Manager, Sarah Singh does a fantastic job in attracting and managing the bookings and prior to the pandemic our bookings were at an all time high. Sadly, during to the lockdowns, no bookings could be taken, and so we have had to make use of the Government's furlough scheme to help cover her wages during these lockdown periods. As lockdowns have eased and bookings have started to return the amount of furlough has reduced accordingly. We would like to thanks Sarah for her flexibility during this time and for her excellent work and dedication which has enabled the Centre to continue and to recover during this season. The regular Church giving from committed members has enabled Stuart to continue work his normal hours during the pandemic, and we are very thankful to them for this. We would like to thank everyone for their dedication to the Church not only financially but also in terms of volunteering, encouragement and payer support through these challenging times.
Page 5
## **Valleys Family Church CIO**
## **Trustees' Report**
## **8 Coronavirus.**
The Covid 19 crisis started to arise towards the end of this last financial year, resulting in the increasing measures to control the spread of the virus. This has led us to develop our online presence even further and maintain communications via social networking and video-conferencing applications. We are presently running a Sunday morning service online, a Bible study weekly on a Tuesday and also a Zoom meeting on a Thursday to help promote connectivity and reduce isolation. The response has been an even greater connection with new members of our community. Our thanks to Peter Helps for all of the hours he has put in to make the technical side work for us, and to all of the musicians, singers and contributors to these meetings.
We would like to thank the VFC Trustees, leadership team, Tabor Centre Manager, Tabor Steering Group, VFC congregation and all volunteers who have worked so hard to achieve so much this year.
## **Public Benefit requirement**
In planning the activities the Trustees have applied the guidance issued by the Charity Commission on public benefit in December 2008.
Approved by the Trustees on 5 January 2022 and signed on their behalf by:
David Tucker Stuart Wheatman Trustee Trustee
Page 6
## **Independent Examiner's Report to the Trustees of**
## **Valleys Family Church CIO**
I report on the accounts of the Trust for the year ended 31 March 2021, which are set out on pages 8 to 14.
## **Respective responsibilities of trustees and examiner**
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the 2011 Act) and that an independent examination is needed.
## It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## Paul Burnell
Paul Burnell C Management Services
69 Velindre Road Whitchurch Cardiff CF14 2TF
5 January 2022
Page 7
## **Valleys Family Church CIO**
## **Statement of Financial Activities for the Year Ended 31 March 2021**
|**Note**
**Incoming resources**
Incoming resources from generated funds
Voluntary income
2
Incoming resources from charitable activities
4
Total incoming resources
**Resources expended**
Costs of generating funds
Costs of generating voluntary income
Charitable activities
5
Governance costs
7
Total resources expended
**Net**movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
£
14,953
6,800|**Restricted**
**Funds**
£
10,467
|**Total**
**Funds**
**2021**
£
25,420
6,800|**Total**
**Funds**
**2020**
£
59,465
9,779|
|---|---|---|---|---|
||21,753|10,467|32,220|69,244|
||
38,763
|-
10,796
|-
49,559|144
44,389
-*|
||38,763|10,796|49,559|44,533|
||(17,010)
25,594
8,584|(329)
990,506
990,177|24,711
1,016,100
998,761|24,711
991,389
1,016,100|
All incoming resources and resources expended derive from continuing activities.
The charity has no recognised gains or losses for the year other than the results above.
The notes on pages 10 to 14 form an integral part of these financial statements.
Page 8
## **Valleys Family Church CIO**
## **Balance Sheet as at 31 March 2021**
|**Note**
**Fixed assets**
Tangible assets
**Current assets**
Cash at bank and in hand
**Creditors: Amounts falling due within**
10
**one year**
11
**Net current assets**
**Net assets**
**The funds of the charity:**
**Restricted funds in surplus**
**Restricted funds in deficit**
The hub
**Total restricted funds**
**Unrestricted funds**
Unrestricted income funds
**Total charity funds**|**2021**
£
£
933,470
65,741
(450)
65,291
998,761
990,178
(1)
990,177
8,584
998,761|**2020**
£
£
83,180
933,470
(550)
82,630
1,016,100
990,507
(1)
990,506
25,594
991,389|**2020**
£
£
83,180
933,470
(550)
82,630
1,016,100
990,507
(1)
990,506
25,594
991,389|
|---|---|---|---|
||||1,016,100|
||||990,507
(1)|
||||990,506
25,594|
||||991,389|
Approved by the Board on 5 January 2022 and signed on its behalf by:
David Tucker Stuart Wheatman Trustee Trustee
The notes on pages 10 to 14 form an integral part of these financial statements.
Page 9
## **Valleys Family Church CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1 Accounting policies**
## **Basis of preparation**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, applicable accounting standards and the Charities Act 2011.
## **Fund accounting policy**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 13.
## **Incoming resources**
Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
## **Resources expended**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of generating funds are the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specific service or output.
Grants payable without performance conditions 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.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Governance costs**
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Page 10
## **Valleys Family Church CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## ......... _continued_
## **Operating leases**
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
## **`2` Voluntary income**
|**Donations and legacies**
Appeals and donations
Grants
Grants - other agencies
**3**
**Grants receivable**
Coronavirus Job Retention Scheme
Lottery Covid grant
Big Lottery
**4**
**Incoming resources from charitable activities**
**Tabor Centre**
Rental income|**Unrestricted**
**Funds**
£
14,953|**Restricted**
**Funds**
£
129
10,338|**Total**
**Funds**
**2021**
£
15,082
10,338|**Total**
**Funds**
**2020**
£
27,571
31,894
59,465
**Total**
**Funds**
**2020**
£
31,894
31,894
**Total**
**Funds**
**2020**
£
9.779|
|---|---|---|---|---|
||14,953|10,467|
25,420
**Total**
**Funds**
**2021**
£
8,238
2,100
-
10,338
**Total**
**Funds**
**2021**
£
6,800||
||**Unrestricted**
**Funds**
£
|**Restricted**
**Funds**
£
8,238
2,100
-|||
||
**Unrestricted**
**Funds**
£
6,800|10,338
**Restricted**
**Funds**
£|||
Page 11
## **Valleys Family Church CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## ......... _continued_
## **5 Details of charitable activities**
|Church activities
Grants
Tabor Centre|**Activities**
**undertaken**
**directly**
£
33,820
14,341
48,161|**Grant**
**funding of**
**activities**
£
1,398|**`2021`**
£
33,820
1,398
14,341
49,559|**`2020`**
£
29,695
1,398
13,296
44,533|
|---|---|---|---|---|
|||1,398|||
## **6 Grants to institutions**
|**Name of Institution**
Hope Community Church
Grants
Catalyst Network of Churches
Grants
**Governance costs**
**Unrestricted**
**Funds**
£
Auditors' remuneration
450|**Activity**
**Restricted**
**Funds**
£
|**Total**
**Funds**
**`2021`**
£
450|£
1,278
120
1,398
**Total**
**Funds**
**`2020`**
£
550|
|---|---|---|---|
- 7 **Governance costs**
## **8 Trustees' remuneration and expenses**
Stuart Wheatman received a salary of £12,500 in his capacity as pastor of the church. No remuneration or trustee expenses were paid to any other trustee during the year.
Page 12
## **Valleys Family Church CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## ......... _continued_
## **9 Employees' remuneration**
The aggregate payroll costs of these persons were as follows:
|Wages and salaries|**2021**
£
29,506|**2020**
£
26,092|
|---|---|---|
No employee received emoluments of more than £60,000 during the year (2020 - No. 0).
## **10 Tangible fixed assets**
|**Cost**
As at 1 April 2020
Additions
As at 31 March 2021
**Net book value**
As at 31 March 2021
Asat31 March2020
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**Freehold**
**interest in**
**land and**
**buildings**
**(including**
**heritage**
**assets)**
£
923,173
-||**Plant and**
**machinery**
**including**
**motor**
**vehicles**
£
**2021**
£
450
10,297
-
10,297
10,297
10,297|**Total**
£
**2020**
£
550
933,470
-
933,470
933,470
933,470|
|---|---|---|---|---|
||923,173||||
||923,173
923,173||||
## **11 Creditors: Amounts falling due within one year**
Page 13
## **Valleys Family Church CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
......... _continued_
## **12 Related Parties**
## **Controlling Entity**
The Charity is controlled by the Trustees
**13 Analysis of Funds**
|**General Funds**
Unrestricted Income Fund
**Restricted Funds**
Building Fund
The Hub
Lottery Covid Grant
Coronavirus Job Retention Scheme
**14**
**Net assets by fund**
Tangible asssets
Current assets
Creditors: Amounts falling due within
one year
Net assets|**At 1**
**April 2020**
**£**
**Incoming**
**Resources**
**£**
**Resources**
**expended**
**£**
**At 31**
**March 2021**
**£**
25,594
21,753
38,763
8,584
990,507
129
(458)
990,178
(1)
-
-
(1)
-
2,100
(2,100)
-
-
8,238
(8,238)
-
990,506
10,467
(10,796)
990,177
Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2021
£
Total Funds
2020
£
933,470
933,470
65,741
83,180
(450)
(450)
(550)
998,761
1,016,100|**At 1**
**April 2020**
**£**
**Incoming**
**Resources**
**£**
**Resources**
**expended**
**£**
**At 31**
**March 2021**
**£**
25,594
21,753
38,763
8,584|
|---|---|---|
|||990,507
129
(458)
990,178
(1)
-
-
(1)
-
2,100
(2,100)
-
-
8,238
(8,238)
-|
|||990,506
10,467
(10,796)
990,177|
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