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 



##  !    !  ! ! 

##  ! 

!   ! !   ! !  !  !     ! ! 

 !  !  !  ! ! !  ! ! ! ! ! 

##  

! 

 



 !    ! 

! 

##  ! 

 !     ! ! 

 !  !      ! ! 

##  ! 

 !   ! 

! 

##  ! 

  ! !  !     ! !  ! !  ! 

    ! !  !  !        

! 

 



   ! ! 

##  ! 

     

 

          !            !                  

 



       

   

##  

-     

-   

-  

-  

-   


##  

  

   

  ! ! ! 

 



##  ! 

     

 !   ! !     ! !  !     ! !   ! ! 

 ! 

    ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! 

 



 !    ! !       ! !  !       !        ! !  ! ! 

-        

!  ! ! 


! 

!  !  ! ! 

 



Independent Examiner's Report to the Trustees of
Friends of the Vale
I report on the accounts of the charity for the year ended 31st March 2023 which are set
out on pages 8 to 17.
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 43(2) of the Charities Act 2011
(the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under charity law and is
eligible for independent examination, it is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedure laid down in the general Directions given by the Charity
Commission under section 145 (5)(b) of the 2011 Act,. and
to state whether particular matters have come to my attention.
Basis of independent examlner's report
My examination was carried out in accordance wlth general Dlrections glven by the Charlty
Commission. An examination include5 a review of the accounting records kept by the
charity and a comparison of the account5 presented with those records. It a150 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 examlner's statement
In the course of my examination, no matter has come to my attention:
(l) 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 2011 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 Cowham FCA DChA
Green Fish Resource Cent
46 - 50 Oldham Street
Manchester
M4 ILE
30 Nov2023
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Friends of the Vale
Statement of Financial Attivities
(including Income and Expenditure account)
for the year ended 31 March 2023
Unrestricted
funds
Restricted
funds
Total funds
2023
Total fund5
2022
Note
Income
Donations and legacies
5,322
5,322
Charitable activities
46,106
14,809
60,915
106
Fees and other income
Investments
Total income
51,428
14,809
66,237
106
Expenditure
Charitable actlvltles
5,340
12,251
17,591
Total expendlture
5,340
12,251
17,591
Net Income/(expendlture) for the
year
46,088
2,558
48,646
104
Transfer between funds
Net movement In funds for the year
46,088
2,558
48,646
104
Reconciliation of funds
Total funds brought forward
104
104
Total funds carrled forward
46,192
2,558
48,750
104
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Friends of the Vale
Balance sheet as at 31 March 2023
Note
2023
2022
Current assets
Debtors
Cash at bank and in hand
12
49,629
104
Total Current assets
49,629
104
Liabilities
Creditors.. amounts falling
due in less than one year
13
(879)
Net current assets/(liabilities)
48,750
104
Total assets less current liabilities
48,750
104
Net assets
48,750
104
Funds of the charity
Restricted income funds
Unrestricted income funds
General funds
Designated funds
2,558
15
1,500
104
46,192
104
Total charlty funds
48,750
104
The notes on pages 10 to 17 form part of these accounts.
Approved by the trustees on 291.11123
Leon Patel
and signed on their behalf by:
dL
Name
Signed
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023
Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in
the preparation of the financial statements are as follows:
a Basis of preparation
The financial statements have been prepared in accordance with 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
(FRS 102) (effective l January 2015) (Charities SORP {FRS 102)), the Financial Reporting
standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006.
The charity has applied Update Bulletin l as published on 2 February 2016 and does not include
a cash flow statement on the grounds that it is applying FRS 102 section IA.
Friends of the Vale meets the definition of a public benefit entity under FRS102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy note.
b Reconclllatlon wlth prevlous Generally Accepted Accountlng Practlce
In preparing the accounts, the trustees have considered whether in applying the accounting
policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative
items was required. No such restatement was required.
c Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charity's ability to
continue as a going concern.
There are no key judgments which the trustees have made which have a significant effect on the
accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the
reporting date that have a significant risk of causing a material adjustment to the carrying
amount of assets and liabilities within the next reporting period.
io
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
d Income
Income is recognised when the charity has entitlement to the funds, any performance conditions
attached to the item(s) of income have been met. it is probable that the income will be received
and the amount can be measured reliably.
Income from government and other grants. whether 'capital' grants or 'revenue' grants, is
recognised when the charity has entitlement to the funds, any performance conditions attached
to the grants have been met, it is probable that the income will be received and the amount can
be measured reliably and is not deferred.
Income received in advance of a provlslon of a specified servlce is deferred until the crlteria for
income recognition are met.
e Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity
has control over the item, any conditions associated with the donated item have been met, the
receipt of economic benefit from the use by the charity of the item is probable and that
economlc benefit can be measured reliably. In accordance with the Charities SORP (FRS 102),
general volunteer time is not recognised; refer to the trustees, annual report for more
information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of
the value of the gift to the charity which is the amount the charity would have been willing to
pay to obtain services or facilities of equivalent economic benefit on the open market;
corresponding amount Is then recognlsed In expenditure In the perlod of recelpt.
f Interest recelvable
Interest on funds held on deposit Is Included when receivable and the amount can be measured
reliably by the charity; this is normally upon notification of the interest paid or payable by the
Bank,
g Fund accounting
Unrestricted funds are available to spend on activities that fvrther any of the purposes of
charitv.
Designated funds are unrestricted funds of the charity which the trustees have decided at their
discretion to set aside to use for a sDecific DufDOSe.
Restricted funds a￿ donations which the donor has specified are to be solely used for particular
areas of the charity's work or for specific projects being undertaken by the charity.
li
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
h Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to
a third party, it is probable that settlement will be required and the amount of the obligation can
be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was
incurred,
i Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation. Individual items Costing less than
£500 are not capitalised. There are currently no fixed assets.
J Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments wlth a
short maturity of three months or less from the date of acquisition or opening of the deposit or
slmllar account.
I Credltors and provlslons
Credltors and provlslons are recognised where the charity has a present obllgatlon resultlng
from a past event that will probably result in the transfer of funds to a third party and the
amount due to settle the obligation can be measured or estimated rellably. Credltors and
provisions are normally recognised at their settlement amount after allowing for any trade
discounts due.
m Flnanclal Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially ￿cOgnised at transaction value
and subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
12
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
Legal status of the charity
The charity is a Charitable Incorporated Organisation (ao), registration number 1190598.
Income from donations and legacies
Unrestricted Restricted Total 2023 Unrestricted Restricted Total 2022
other donations
5,322
5,322
Total
5,322
5,322
Income from charltable actlvltles
Unrestricted Restricted Total 2023 Unrestrirted Restricted Total 2022
Grants
Peoples Health
Trust
The Vale
14,809
14,809
38,326
38,326
Fees from
Admission fees
Supply of
costumes, other
props and
performers
Other feeslincome
106
106
6,780
1,000
6,780
I,ooo
Total
46,106
14,809
60,915
106
106
13
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
Investment income
Unrestricted Restricted
2023
Unrestricted Restricted
2022
Income from bank
deposits
All of the charity's investment income arise5 from money held in interest bearing deposit accounts.
All investment income is unrestricted.
Analysls of expendlture on charltable artlvltles
Total 2023 Total 2022
Accountancy
Freelance artists
Management fee
Donations
Materials
Repairs and maintenance
Travel and Subsistance
Bank charges
other costs
Qther governance costs
Independent examination & accountancy
320
9,116
4,285
250
2,428
397
88
700
17,591
2023
2022
Restricted expenditure
Unrestricted expenditure
12,251
5,340
17,591
14
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
Net income/{expenditure) for the year
This is stated after charging/{crediting):
2023
2022
Amortisation of intangible assets
Independent examiner's remuneration
accountancy
independent examination
350
350
Staff costs
The charity had noi employees during the year. Management was provided on a freelance basis.
No employee has employee benefits in excess of £60,000 (2022: Nil).
The average number of staff employed during the period was nil (2022: nil).
The key management personnel of the charity comprise the trustees and two freelance Indlviduals
who are not employed by the charity. The total benefits of the key management personnel of the
charity were £4,285 (2022: £nil).
Trustee remuneration and expenses, and related party transactions
One trustee recelved remuneration for services to the charlty of £525 {2022'. £nll) In the year. Thls
was approved by the trustees. Neither the trustees nor any persons connected with them received
any reimbursed expenses during the year (2022: Nil).
Aggregate donatlons from related parties were £nil (2022: £nil).
There are no donations from related parties which are outside the normal course of buslness and no
restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or
transactlon entered Into by the charity, including guarantees, durlng the year (2022: nll).
10 Government grants
No government grants were received during the year or during the previous year.
11 Corporation tax
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the
Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the
extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
15
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
12 Debtors
2023
2022
Trade debtors
Other debtors
13 Creditors: amounts falllng due within one year
2023
2022
Accruals
Trade creditors
700
179
879
14 Analysls of movement In restrlcted funds
Balance at
l April
2022
Llalance at
31 March
2023
Income
Expenditure Transfers
People's Health Trust
14,809
(12,251)
2,558
14,809
(12,251)
2,558
Previous reporting period - there were no restricted funds in the previous year
The balances on restricted funds are all unexpended grants for the charity's projects. Transfers
from restricted funds occur when capital items are purchased and this satisfies the restriction on
the funding,
16
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Friends of the Vale
Notes to the accounts for the year ended 31 March 2023 (continued)
15 Analysis of movement in unrestrirted funds
Balance at
l April
2022
Asat31
Expenditure Transfers March 2023
Income
General fund
Funds earmarked for future
project delivery
104
51,428
{5,340) {44,692)
1,500
44,692
44,692
104
51,428
(5,340)
46,192
Previous
reportlng
perlod
Balance at
l Aprll
2021
Balance as
at 31 March
2022
Income
Expenditure Transfers
General fund
106
(2)
104
106
(2)
104
16 Analysls of net assets between funds
General
fund
Designated Restricted
funds
funds
Total
Tangible fixed assets
Net current assetsl(liabilities)
1,500
44,692
2,558
48,750
Total
1,500
44,692
48,750
17
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