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← Valleys Family Church

2025-03-31-accounts

Charity registration number: 1159465

Valleys Family Church CIO Annual Report and Accounts for the Year Ended 31st March 2025

Valleys Family Church CIO

Contents

Page
Reference and Administrative Details 1
Trustees' Report 2
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9

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 Stuart Wheatman, Secretary Dafydd Robbins Graham Powell, Treasurer Pastor Stuart Wheatman Treasurer Graham Powell Bankers Lloyds Bank 25 Market Street Ebbw Vale NP23 6HP Accountant C Management Services 69 Velindre Road Whitchurch Cardiff CF14 2TF

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Valleys Family Church CIO

Trustees’ Report

The Trustees have pleasure in submitting the Report and Accounts for the year to 31st March 2025

Structure, Governance and Management

Nature of organisation

Valleys Family Church (“VFC”) is a Charitable Incorporated Organisation ( “ C I O ” ) 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 Trustee 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 VFC and receives a salary set in the yearly budget agreed between the leadership of the Church and the Trustees of the charity.

VFC is part of a larger network of Churches within the Catalyst Network of Newfrontiers. Although a part of this larger grouping of Churches, VFC 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 (for instance tuck sold at the Youth Club) are put back into the organisation or used for the benefit of other charities.

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 VFC, 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 that we – the Trustees – 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. 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 Financial Statements.

  4. Prepare the Financial Statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

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Valleys Family Church CIO

  1. 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 Docume ~~nt registered w~~ it ~~h the Charitie~~ s Commission in December 2014; namely, the advancement of religion and the relief of poverty. These are presented in our Governing Document as follows:

Activities During the Financial Year

We have undertaken various activities throughout the year as outlined below.

1 Regular Church Meetings

Our weekly services happen every Sunday at 11am and are open to anyone who would like to attend. We continue to live stream the services for those who are unable to attend in person. We have a great team of volunteers and there are many opportunities for those who would like to get involved, and it is great to see people developing their gifts and serving faithfully. We also have meetings in the week, again open to anyone who would like to come along. These consist of Bible studies as well as prayer meetings. This year we held a prayer meeting for those who wanted to pray in the New Year. In our Bible studies this year we have completed the books of 1John, 2John and 3John. We also did one session in the book of Proverbs before we multiplied the Bible Study group into two Lifegroups. This plan followed 3 sessions of training we did for those interested in potentially leading a group. The two Lifegroups started in March and now meet fortnightly for Bible Study, fellowship, worship and outreach, one based in Ebbw Vale area and the other based in Brynmawr area and the surrounding regions. The Ebbw Vale Lifegroup is led by Sarah and Jas Singh, Trisha Poynter and Terry and Angela Edwards. The Brynmawr Lifegroup is led by Dave Tucker and Allan and Jan Stevens. Each is also hosted by different people attending the group. Our thanks to all of the leaders who are doing such a great job and to all those attending making the groups work so well.

2 Children, Youth and School's Work

Our Sunday School team continues to provide a great service to the children each Sunday both with age appropriate teaching as well as regular family services. The children learn songs and enjoy worship and prayer as well as learning from the Bible and having fun with various crafts and games. Numbers in Sunday School continue to be good and our team of helpers has increased but we are always looking to increase this further, so please chat to Linda Powell if this is an area you may be able to serve in. Our thanks to Linda and the Sunday School team for their hard work and commitment to the children each week. The Hub Youth Club has run weekly in term time for those of secondary school age. Numbers through the year have averaged roughly 10 young people attending each week, mainly boys, but also some girls too. Stuart continues to do fortnightly assemblies with in Blaenycwm Primary School. Our thanks to all who help with the Hub and with children's work, you are a blessing.

3 Connecting Socially-

We have had various socials to help people to connect. In September we had a Quiz night with a take-away meal, arranged by Dafydd Robbins. In November Bob Roberts arranged a music and worship evening at Tabor with our Church band and also Jim and Anika from Hallelujah Ministries. The evening was also a chance for people to give towards the work in Tabor, and £707.38 was donated through the event. In June we had a dedication service for Mabel and Kwabena's daughter Neriah followed by food and fellowship. Sadly, we had to say goodbye to them as a family in December as they had to move to a different area for work, we miss them. In May and September Jan Stevens arranged a watercolour art training session for all who wanted to attend, and this was a great time together learning new skills and producing some lovely works of art. In May Marilyn Gwet kindly hosted a welcome event for newcomers to the area Brynmawr, which was a great time of connecting socially. In June at Tabor Centre, Trisha Poynter arranged and led a training day for all of those wanting to obtain their level 2 in food hygiene, which was attended and enjoyed by all who came along. We had our VFC Christmas Carol service in December and also after a service in December we enjoyed a Christmas meal together cooked and arranged by

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Valleys Family Church CIO

Jas and Sarah Singh. It was very well attended and a great time of fellowship. Our thanks to the Singh family and to all of the helpers. We continue to have a Church WhatsApp group to make it easier for newcomers to get connected with the Church, please let us know if you would like details. We continue to send out a weekly notice sheet to all who would like to receive it via email, as well as making it available on a ~~Su~~ nday. We also ~~ke~~ ep our VFC website up to date as well as our Facebook page. Our thanks to everyone who has arranged and helped with all of these amazing social events.

4 Other Areas of Outreach-

In July we again had the Team from Hope Church Atlanta doing outreach with us ~~in our local community. The team~~ did an assembly in 3 primary schools in our local area as well as their first assembly in Brynmawr Secondary School. These assemblies were very popular both with the children and with the staff. The team also did some gospel singing in our local Costa, and in the evening our team at Tabor headed up by Trisha Poynter and volunteers, cooked and served a meal for them all. Our thanks to everyone who helped with this as well as those who helped give out flyers for the events. The Atlanta team then did a concert in the evening in Tabor Centre. The room was packed and everyone had a great time and there was a very positive response to the gospel message too. Our young people particularly enjoyed having the team over and finding out more about the culture in Atlanta. Rich Terry who led the team spoke a stirring message to us in our Sunday service. Our thanks to all in the team from Atlanta and all who helped with the outreach.

5 Charitable Deeds/Mercy Mission-

We continue as a Church to sponsor a child, Jane, from Kenya though the organisation Compassion UK. We have had regular letters from her which we have put on our notice sheet and have also regularly sent her letters with our news (our thanks to Angela Edwards for co-ordinating this). Our Foodbank has met weekly, throughout this financial year to supply essential items to individuals and families in Blaenau Gwent. It is part of the Blaenau Gwent Foodbank, overseen by the Trussel Trust. Our thanks to all of the volunteers who have done a fantastic job of serving the public and also to those who have helped with the supermarket collections. We were particularly upset over the passing of our dedicated and much loved helper, Linda Reames, who gave so much time and worked so hard to help so many in the Foodbank, she will be greatly missed. Over the winter months we again opened Warm Hub at Tabor Centre to help support people with the present cost of living crisis. Our thanks to Lisa and her team for running this. In January we had a collection of £110 for the Foodbank in Los Angeles following the devastating fires, which we sent out to them. Our thanks to everyone for your generosity in giving to help in all of these areas.

6 Networking-

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 and are grateful for their ongoing support and encouragement. Andrew has regularly spoken in our Sunday meetings and Stuart and Sarah meet up regularly with them for accountability. We give regularly to support the work of the Catalyst Church in Pontypridd, and Stuart regularly leads worship at their Church through the year. We also receive regular financial support ourselves as a Church, as well as encouragement, from our friends at the Well Church in Loughborough. In March we had a visit from Martin and Linda Bull who lead The Well Church and Martin shard a message of encouragement in our Sunday service. In November there was another Catalyst global day of prayer which we were able to connect with online. In August we attended the Catalyst Festival for a long weekend in Stafford Showground. It was a stirring time of worship, fellowship and powerful prophetic teaching. As a Church, we are members of New Wine Cymru and connect with events and meetings with them throughout the year. NWC sessions have continued to focus on training and equipping Churches to embrace and develop a culture of mission. We continue to be members of the Brynmawr Churches Together, and Stuart led a session of the Brynmawr Churches Together Bible study during Lent and also their prayer meeting in November. This year our young people at The Hub youth club really enjoyed a session that Alice Pepper and her team from Message Wales took at Tabor, with various fun activities including zorbing balls, remote control cars, and laser tag, as well as hearing the gospel message too. We have been blessed with other visiting speakers such as Fortunato Santos from Sardis Church Resolven and also Grant Winter from Hill Church Swansea. It has also been a blessing this year too to connect with Liberty Church in Newport and to regularly have speakers encourage us from their Church. This year Heath Van Staden, Phil Baulch and Phil Gibson have brought encouraging messages as visiting speakers and we have also been able to attend some of their meetings in Liberty Church and the Genesis Collective network which have all been edifying. Our thanks to everyone that we fellowship with in other Churches for their ongoing encouragement and support.

7 Tabor Centre-

This year was a good year for Tabor Centre, as our income was higher than our expenditure. Stuart and Dafydd

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Valleys Family Church CIO

continue to manage opening and closing for the bookings. We are always looking to expand this team so if you would like to volunteer please chat to us. Stuart also does the invoicing with assistance from Sarah Singh. We are working hard to make Tabor sustainable for the future, saving money where possible and maximizing our income where we can. Tabor continues to be very popular in our local community, providing a ~~mu~~ ch needed Hub ~~fo~~ r all. It has provided support, learning opportunities, social connection and the provision of flexible, accessible, multipurpose community space in a central location in the town.

Our thanks to the VFC Trustees (Dave Tucker, Graham Powell, Stuart Wheatman and Dafydd Robbins), leadership team (Dave and Brenda Tucker, Stuart and Sarah Wheatman), VFC congregation and all volunteers who have been such a blessing to us all throughout the year. We thank God for His ongoing pr ~~ovision and to ev~~ e ~~ryone who ha~~ s given time, money and service this last financial year.

Public Benefit Requirement

In planning these activities, the Trustees have applied the guidance issued by the Charity Commission on public benefit in December 2008. The activities have brought public benefit to many people through the advancement of religion and the relief of poverty.

Financial Position and Future Plans

The results of the year before depreciation show a considerable improvement on those of the previous year as a direct result of the cost cutting decisions taken by the Trustees, and an increase in the hire fees from the Tabor Centre. We are continually investigating cheaper alternatives for administrative contracts and also proactively sourcing potential grant funds.

We also have a number of exciting ventures aimed at advancing the Gospel in our area.

In July, a team from New Hope Church in Atlanta is coming to take assemblies in 3 primary schools in Brynmawr and also the secondary school, in addition to giving a concert in Tabor Centre in the evening.

Also in July, in the first week of the school summer holidays, a team from Korean Churches in London, Germany and Slovakia will be doing a fun day outreach in the Welfare Park in Brynmawr for a day.

In October, a team from Message Wales is coming to help us outreach on one of the housing estates in Brynmawr where we will do litter picking, garden tidying and makeovers, followed by a fun day in Tabor Centre.

We ask for God’s Blessing on these activities.

Approved by the Trustees on 18[th] August 2025 and signed on their behalf by:

David Tucker

David Tucker Trustee

Stuart Wheatman

Stuart Wheatman

Trustee

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Valleys Family Church CIO

Independent Examiner's Report to the Trustees

I report on the accounts of the Trust for the year ended 31st March 2025, which are set out on pages 7 to 13.

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 201 ~~1 Act) and that~~ a ~~n 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

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:

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

Paul Burnell

Paul Burnell C Management Services

69 Velindre Road Whitchurch Cardiff CF14 2TF

18[th] August 2025

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Valleys Family Church CIO

Statement of Financial Activities for the Year Ended 31st March 2025

Unrestricted
Funds
Restricted
Funds
£
£
Note
Incoming resources
Incoming resources from generated funds
Voluntary income
2
18,102
Incoming resources from charitable activities
3,4
15,787
Total incoming resources
33,889
-
Resources expended
Costs of generating funds
Costs of generating voluntary income
Charitable activities
5b
54,626
Governance costs
7
375
Total resources expended
55,001
-
Net movements in funds
(21,112)
-
Reconciliation of funds:
Total funds brought forward
891,136
-
Total funds carried forward
870,024
-		 Unrestricted
Funds
Restricted
Funds
£
£
Note
Incoming resources
Incoming resources from generated funds
Voluntary income
2
18,102
Incoming resources from charitable activities
3,4
15,787
Total incoming resources
33,889
-
Resources expended
Costs of generating funds
Costs of generating voluntary income
Charitable activities
5b
54,626
Governance costs
7
375
Total resources expended
55,001
-
Net movements in funds
(21,112)
-
Reconciliation of funds:
Total funds brought forward
891,136
-
Total funds carried forward
870,024
-		 Unrestricted
Funds
Restricted
Funds
£
£
Note
Incoming resources
Incoming resources from generated funds
Voluntary income
2
18,102
Incoming resources from charitable activities
3,4
15,787
Total incoming resources
33,889
-
Resources expended
Costs of generating funds
Costs of generating voluntary income
Charitable activities
5b
54,626
Governance costs
7
375
Total resources expended
55,001
-
Net movements in funds
(21,112)
-
Reconciliation of funds:
Total funds brought forward
891,136
-
Total funds carried forward
870,024
-		 ~~To~~tal
Funds
2025
£
18,102
15,787
33,889
54,626
375
55,001
(21,112)
891,136
870,024		 Tot~~al~~
Funds
2024
£
16,547
13,425
- 29,972
67,640
600
- 68,240
-
-		 (38,268)
929,404
- 891,136

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 9 to 13 form an integral part of these Financial Statements

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Valleys Family Church CIO

Balance Sheet as at 31st March 2025
2025
Note
£
£
Fixed Assets
Tangible Assets
10
852,5~~79~~
Current Assets
Cash at bank and in hand
18,020
Creditors: Amounts falling due within one year
11
(575)
Net Current Assets
17,445
Net Assets
870,024
The funds of the charity:
Unrestricted Funds
Unrestricted Income Funds
13
870,024
Total Restricted Funds
13
-
Total charity Funds
870,024		 2024
£
£
~~872,128~~
19,783
(775)
19,008
891,136
891,136
-
891,136		 2024
£
£
~~872,128~~
19,783
(775)
19,008
891,136
891,136
-
891,136
~~9~~
~~,~~
19,008
891,136
891,136
-
891,136

Approved by the Board on 18[th] August 2025 and signed on its behalf by:

David Tucker

David Tucker Trustee

Stuart Wheatman Stuart Wheatman Trustee

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Valleys Family Church CIO

Notes to the Financial Statements for the Year Ended 31st March 2025

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 Notes 13 & 14.

Fixed Assets

Fixed assets are stated at cost, less accumulated depreciation. Depreciation has been computed to write off the cost of the tangible fixed assets

Furniture and Equipment 25% Reducing Balance Property 2% Straight-line

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.

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight-line basis over the lease term.

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Valleys Family Church CIO

Notes to the Financial Statements for the Year Ended 31st March 2025

2
Voluntary Income
Unrestricted
Funds
£
Donations and legacies
Appeals and donations
16,946
Tax Reclaimed
Grants - other agencies
Other Income
1,156
18,102
3
Grants Receivable
Unrestricted
Funds
£
Warm Hub Grant
-
4
Incoming Resources from Charitable Activities
Unrestricted
Funds
£
Tabor Centre
Rental income
15,787
5
Details of Charitable Activities
5a Analysis by Source
Activities
Undertaken
Directly
£
Church Activities
17,660
Depreciation
19,549
Grants & donations
Tabor Centre
15,789
Total Charitable Activities
52,998		 Restricted
Funds
£
-
Restricted
Funds
£

-
Restricted
Funds
£
-
Grant
Funding
of
Activities
£
1,628
1,628		 Total
Funds
2025
£
16,946
-
-
1,156
18,102
Total
Funds
2025
£
-
-
Total
Funds
2025
£
15,787
Total
Funds
2025
£
17,660
19,549
1,628
15,789
54,626		 Total
Funds
2024
£
14,927
-
1,000
620
16,547
Total
Funds
2024
£
2,000
2,000
Total
Funds
2024
£
11,425
Total
Funds
2024
£
23,996
19,911
2,668
21,065
67,640

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Valleys Family Church CIO

Notes to the Financial Statements for the Year Ended 31st March 2025

5b Analysis by Fund

Church Activities
Depreciation
Grants & donations
Tabor Centre
Total Charitable Activities
Grants to Institutions
Name of Institution
Hope Community Church
Catalyst Network of Churches
Urban Saints
Governance Costs
Independent Examiner’s remuneration		 Unrestricted
Funds

£
17,660
19,549
1,628
15,789
54,626
Activity
Grants
Grants
Grants
Unrestricted
Funds
£
375		 Restricted
Funds
£
-
Restricted
Funds
£
-		 Total Funds
2025
£
17,660
19,549
1,628
15,789
54,626
2025
£
1,278
120
120
1,518
Total
Funds
2025
£
375

Total Funds
2024
£
23,996
19,911
2,668
21,065
67,640
2024
£
1,278
120
120
1,518
Total
Funds
2024
£
600

6 Grants to Institutions

7 Governance Costs

8 Trustees' remuneration and expenses

Stuart Wheatman received a salary of £14,872 (2024 – £14,170) in his capacity as pastor of the church. No remuneration or expenses were paid to any other Trustee during the year.

9 Employees’ remuneration

The aggregate payroll costs of employees were as follows:

Wages and salaries 2025
£
15,131		 2024
£
21,535

The average number of employees during the year was 1 (2024 – 2)

No employee received emoluments of more than £60,000 during the year (2024 – nil)

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Valleys Family Church CIO

Notes to the Financial Statements for the Year Ended 31st March 2025

10 Tangible Fixed Assets

Freehold
interest in
land and
buildings
(including
heritage
assets)
£
Cost
As at 1 April 2024
923,173
Additions in year
-
As at 31 March 2025
923,173
Depreciation
As at 1 April 2024
55,389
Depreciation for year
18,463
As at 31 March 2025
73,852
Net Book Value
As at 31 March 2025
849,321
As at 31 March 2024
867,784
11
Creditors: Amounts falling due within one year
Accruals and deferred income
12 Related Parties
Controlling Entity
The Charity is controlled by the Trustees.
13
Analysis of Funds		 Plant and
machinery
including
motor
vehicles
£
10,297
-
10,297
5,953
1,086
7,039
3,258
4,344
2025
£
575		 Total
£
933,470
-
933,470
61,342
19,549
80,891
852,579
872,128
2024
£
775
General Funds
Unrestricted Income Fund
Restricted Funds		 At 1 April
2024
£
891,136
891,136
-		 Incoming
Resources
£
33,889
33,889
-		 Resources
Expended
£
55,001
55,001
-		 At 31 March
2025
£
870,024
870,024
-

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Valleys Family Church CIO

Notes to the Financial Statements for the Year Ended 31st March 2025

14 Net Assets by Fund

Net Assets by Fund
Tangible Assets
Current Assets
Creditors:amounts falling due within one year
Net Assets		 Unrestricted
Funds
£
852,579
18,020
(575)
870,024		 Restricted
Funds
£
-		 Total
Funds
2025
£
852,579
18,020
(575)
870,024		 Total
Funds
2024
£
872,128
19,783
(775)
891,136

15 Transfer of Grant Funds

The Church successfully applied for the following two major grants relating to renovating a disused church building and providing a multi-use community facility in Tabor Centre in Brynmawr:

Welsh Government Community Facilities Programme:

£499,969 in 2016/17 for capital costs associated with the refurbishment of the building.

Big Lottery Fund:

£499,969 in 2016/17-2019/20 (Capital £398,181: Revenue £101,788) to fund building work and professional fees, two part time employment posts, and project delivery costs.

The grant funds were subject to a legal charge on the building, which can remain in place until 2036.

The refurbishment works and additions to fixed assets were completed by 2019/20.

In the year ended 31st March 2023, as all the grant requirements had been met, all required reports submitted and the building works in effect "signed off" by the grant-making bodies, the Trustees resolved that these assets and associated funds should be redesignated as "Unrestricted" Funds.

The Trustees also confirmed that a note, as shown below, would be included annually in the Financial Statements.

Building Fund at 1 April 2024
Expenditure from Building Fund -
depreciation
Building Fund at 31 March 2025		 2025
Unrestricted
Funds
930,869
19,549
911,320		 2025
Unrestricted
Funds
930,869
19,549
911,320		 Restricted
Funds
-		 2024
Unrestricted
Funds
£
950,780
19,911
930,869		 Restricted
Funds
£		 Restricted
Funds
£
-

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