Valley Veterans – Trustees’ Report
This, the second Trustees’ report, spans the period Mar 2022-Feb 2023.
The Trustees are delighted to report that after the previous period of transition to charitable status, this year has seen Valley Veterans firmly establish an enviable reputation for delivery against its charitable objects.
Successful grant applications have again been at the heart of unlocking the charity’s potential and the Trustees wish to acknowledge the exceptional performance of the Secretary, Nigel Locke, in accessing well over £100k of grant funding this year. Doner organizations have included the Armed Forces Covenant Trust and the National Lottery as well as locally based businesses and organizations.
In addition to financial support a number of Rhondda businesses have donated time, labour and equipment to enable the transformation and improvement of the charity’s facilities. The Trustees would also wish to acknowledge the continued generosity of the Local Authority, driven by its Armed Forces Champion Councillor Maureen Webber, without whom much of the success over the past year would have been impossible.
As the charity’s activities have become more prolific its positive impact on its beneficiaries has attracted public recognition with the Chief Executive winning the Armed Forces in Wales’ Community Award and the charity being acknowledged with a High Sheriff of Mid Glamorgan’s award. Valley Veterans has also signed the Armed Forces Covenant and been recognised by the Defence Employer Recognition Scheme at bronze level.
In June the Board of Trustees welcomed Nia Godsmark and bid farewell to Andy Jones. As a practising solicitor Nia brings much needed practical legal experience to support the charity’s activities. As a founding trustee Andy was pivotal in establishing Valley Veteran’s presence within the Ton and Pentre Community Hall and we wish to publicly thank him for his services during his tenure as a trustee.
With the charity now firmly established and gaining in public profile, Valley Veterans is now focussed on delivering ‘fit for purpose’ facilities that will allow easy access to a wider range of beneficiaries from the local community.
The Trustees consider look forward to charting the achievements that will result from the next phase of expansion and operations.
David Hammond
Chairman of Trustees
Charity Registration number 1192172 Valley Veterans Indepedent Examiner5 Report and Financial Statements for the year ended 31 December 2022
Valley Veterans Contents Page Inforniarioii ITtdependeni Examiner%' Report Staiemenl of Findncial Activities BdlanLe Shc¢t N()te8 10 the Finaiieial Statements 5-10
Valley Velerans Information Charity Nuinbei. IY2172 The Tru.%iee% who Nei'ved in office ihroLighoul the ycdr wer¢ a% foll()ws - Andrew Jone David HJii)mond R<)y C141rk Regisiered Office T()n dnd Gelli Communiiy Hub Dinhllm Park T()n Penire Pei)Ire CF417DX Prsncipdl Banker.% Barc11c Y Bank Pl l (M)/1 01 Bute Stieet Trenrchy MÈd Glaiknoiglln CF4? 6AN Auditor R.H. Jelf% & Rowe Chclnered Accouiitdnt.% 27128 Gelliwaft¢d Road Poniypridd CF.17 2BW Page I
Valley Veterans INDEPENDENT F.XAMINER'S UNQUALIFIED RF.PORT UNINCORPORATED CHARITY report to the trustee% on n)y exainination of ihc financidl stateii)ents of Valley V¢teran% I'the charity I for Èl)e year ended 31 DeLeii)ber 2022 which comprisc the Stateinent of Fiiidncial Activitics. thc BJlancL Shcet dnd rclJled n(Trlt%. Thi% rep(irt ]% made %(Ilely 10 the ch:Iriiy % Iru%tee.%, dN J body, in 1( Lcordance wilh seLlion 145 of the Ch<ifiiie% ALI ?() I l. My w()rk ha% been undenaken so Ihai I mioht siaie io ihe Lhariiy % iru%iee% tho%e n)atrer4 1 am iequii'ed io Slate to Iheiii IT) this report dnd tor no othei. purpn%¢. To th¢ full¢4t cxlent pcrmilted by Idw. I do noi accept or a%%uiiie re%pon%ibility Ic) iinyon¢ other than th¢ charity the ¢hai'ily'% tru.%tee4 as a b(xly. l()r Iiiy w()rk, li)r Ihi% repori. i)r for (he opinionN I have fornied. Re5ponsibilitles and basls of report A% the iru%(ee% ol. Ihe Lhdrily you dre I'espon¥ible for (he prepdralioii ot rhe financiol .%t<ltementN in aLcordai)Le wilh the requiremen(% of ihe Charitie% Aci 2011 I'the Act'l. I report in I'espeL( Ot my examinaiion of ilie charity % finic ncial 4iaiemeni% carried oiil uiider %eciion 145 of ihe ALI <ind in carrying oui Iny ex<iniination I have followed all the <ipplicablc DiTCCtion% given by ilie Chic riiy Commi%.4inn uiider %eLti()n 14.51511bl ()l- Ihe ALI. An independent examsndtion does no( involve gdihering <ill (he evidence thai would be required in an audi( dnd ¢()n%equenily d()e% ni)t L()ver dll (he niaiier% ihdi ali dudiior considei'% iii ¥iviiig Iheir opinion ()n ihe financidl statement5. The planning and conduct of an audit goes beyond ihe liJDited as%urance that an independent examination can provid¢. Cun%equenily I expr¢s% opinion 4L% to whether the fillai?cial tateYneni% pre%ent <1 'irue :Iiid fair, view and my repoi1 is liiniied to thii4e specific matters se( out in ihe independeni examiner's %taiemen(. Independent exaniiner's statement I hJi'e Lompleied my examin4iiion. I confirm th£11 no maierial matters have come to my aiiention in conneciion with the examin£lli()n giving me Ldu¥e to believe (hat in Jny material respect= al accountiiig records were not kept in re%peet ol. the charity d% iequiied by 4eciion 1311 ()f the Act; OT b) the finJniidl %ldt¢menl% do not aLL()rd with th()tse reL()rd%; i)r cl the financial sfatements do not comply with the applicable requirements conccriiing the foriii and conient of accuunÈ% 4¢t out in the Charitie4 IAcLount.4 tind Rep()TINI RegTuIti(i()n% ?11118 ()Iher Ihan any re4uirement thai the JCLI)unt¥ give a 'tnie and Idir wiew which 18 noi a matier considered as part ol. an independent ex<imination. I have ni) LonLei'n% and have Lome aLro44 no other mailer% in connection with the exJminalion 10 whiLh aiteniion .%hould be di'awn in this I'eport in order to enci ble proper understaiading ot the financial siaiemeni.% to be reiiched. Mr. Robert Thomas Bsc FCA R.H. Jet'15 & RO.e Chartered ALCQUlltants 271216 Gelliw#sted Road Pontypridd C'F37 2BW Date: 30 D&h6irf ioz) Page 2
Valley Veterans Statement of Financial Activities for the vear ended 31 December 2022 Note5 Unre5tiicted Restricted Total Total year t(y J1112122 year t 3J112121 Ineome & Endowments Dondtion4. Grant4, Credit -34.A?11 -fjII.IMIO 114,-321 65,-515 Total Income & Endoivments 34,320 50.000 84,.120 Expenditure Charitable a¢livitie Govcri)ancc Co%1% 26.726 ?IMI 39.761 66,487 1,2(H) -37,869 Tot81 Expenditure 27,926 39,761 67,687 39,069 Movement sn total funds for the year: Net Income/(F.xpenditure) for the Period 6,394 16,633 26,446 Fund Balance5 brought fo1d 3,682 Fuod Ilalances carried forward 2,712 41,75. 44,467 27.8.34 Page 3
Valley Veterans Balance Sheet
s at 31 Decetnber 2022
2022 2021 Notes Fixed Assets Tangible assets 6.755 1,572 Current Assets Cash at bank and in hand 41,012 27,462 41,012 27.462 Creditors: amounts fglling due within one year (3,300) (1,200) Net Current assets 37,712 26,262 Total Assets Less Current Liabilities 44,467 27,834 Funds Unrestricted Funds Restricted Funds 2,712 41.755 (3,682) 31,516 io 44,467 27,834 The financi&l statements were approved by the Trustees on 23 October 2023 and signed on its behalf by ¢z¢¥YThW,.¥Jrt4 ..Um Page 4
Valley Veterans Notes to the finaneial statements for the year ended 31 December 2022 Statutory Inforniation Villey Velercln.% IS cl IEgi%tercd Lhllrily i)perdtingi in Wille% in the United Kingdom. The regi%iered ol'fice 1% Ton ii nd Gelli Comniuiiily Hiih, Dinhdm Park. Ton Peiitre. PLI)Ire. CF41 7DX. The nature nltlic ehariiie.4 operaiion% and principal activilie% is disclo%ed wihin th¢ Tru¥tee% Report. The fintincial %lil(einei)t4 are PTCSCJJtcd in Sterling 1£), the ¢hgil"itie% lunciional currency. ai)d I'ounded io the Iicar¢%t pound. The %ign2ti¢anl dCL()Unting paliLie% applied in the prepardiion of th¢%e tinaiicii¢ l %tatenienl% 41re %el out bclow. Th¢%¢ poliLie% h¥ive been con%isiently applied io cl11 year4 prc%ented unlc%% otheiwi.%e %talcd. Aeeibynting Polieies l.l. Basis tsf preparation and assessinent of 2OiDg concern The acLouiit.% Ifinaiicial 4tatcm¢nt.%l hdve been prepdred uner the hi%torical cosi conveniion with irems reiogni%¢d al c()%t oi. Iran%aLiion value unlc%% otl)erwisc 4latcd in the rLlevant i)i)(el41 ti) Ihc%L JL¢()unl%. Th¢ IindnLial %t<ltemeni% have bLeii PlLpared iii accnrdaiic¢ wilh the Sidiement ()1" ReLommeJ)ded Practice: Accouniing and R¢portiRg by Charities preparing Iheir clCCOIII)ts in accordaiice with Financi111 -) issued on 16 July 2014 Repi)rling S(andcird Jppliciible in the UK and RepubliL of Ireland IFRS 10? and the Fin&inLial Repoi'liiig Srandai'd. applicJblc iii Ihc United Kiiigd()m and Republic Dl. Irel<ind IFRS 10214ll)d the Ch'i11es AL(2011. The charity con%titutes d publie henefii eniiiy defined by FRS 102. The iiu%lees con%id¢r that there Lire no material Linceflciiniies about the chai'ilies ability io continue ds a going LtsnLeni over Ihe next yedl.. The truNiee¥ coiifirm Ihai as far a% thcy arc awJi¢, Ihcre is no ielevdni audit Infornil(l of whiLli the Lh.Irily'% examiner 1% ui)aware; and that they have taken all the %iep% Ihdt ihey ()utshi [() have l'iken io make thcm4clvc8 'Te ol. dny relevant intormaiion and to establish that the ex47mineY is aware of that iiifoi'malioii. 1.2. Taxation The charity not liablc for Tax on it8 chariiable aciivities. Page 5
Valley Veterans Notes to the financial statements for the year ended 31 December 2022 continued 1.3. Income & Endowments All Incomc & Endowmcnts arc iR¢ludcd in thc SiJt¢iiient of FiliaLia ALtivitic% whcii thc hai'ity i% ci)litl¢d [() Ihc inc()m¢ Jnd the ani()unl Lan be quaiitiliLd with reLI.%OI)able JccuraLy. The lollowin¥ 4pecitic poliLie¥ are applied to pariicular Ldiegorie¥ of incoine.. V()luntary inL()me ]% reLeived by wlY ()l- dundli()n%, tsil'ts and uncondiiii)nkil and dre iliLluded in I'iill ii) Ihe Siatcment of Financial Aclivilic4 whLli receivable. Whei'c iiicome is d¢pcnd¢nt upon pcrfoi'mancc aiid %pccifiL delivciJblcs, inconic inLluded in Ihe Siaiemeni ol Financial Aciiviiie% a8 the Lhariiy earns the riLYht io con.%idercllion by il% pertorn)anLe. WheiE r¢l¢vjinl, donttied .%ervices ttnd are included at the value to thc chcirity where ihs% be qLianiifked. The value of services provided by voluRt¢er. ha.% noi beeii inLluded in thc%e iiccounts. Investment income 1% includ¢d when I'CLCiVdble. 1.4. Expendlture Liabilities are I'ecognised as expendilui'e soon ds there is a legal or con%iructive obligaiion L()minitling the Lhurity l(Tr IhLlt expenditure. it 1% pFobLihle tlitil %eiilemenr will be requiitd and th¢ dinc)unl ()[ Ihe ()bligdli()n Lan be mea%ured I'elidbly. All expendiiure 1.% aLCOElI)Led f(Ir ()n an iLL[udI. bd%i%. Expendilui'e include% aiiy V AT which cannot bc fully COVered. Cliarildbl¢ cxpciiditure ¢i)IDpJ"i%e% ih()%e LO.%t% incuttcd by the LhxTily in the delivery ot its activities and %¢rvice% tor it% bencliciaries. It includes IM)th co%t% thdt Lan be alloLiiied direLtly ti) %u¢li activilie.% and Iho%e co.%1% of an indireLt naiure nLLe4sary' to.%upporl iliein. Gui'ei'ndncL Lo%1% inLlude Iho.%¢ Li)st% d%soLiated with me¢lii)g th¢ ¢uiisliluii<)ndl and %lalUt(Iry requirement% of the Lh<(Y and incllide Ihe dudit fee% and Losis linked io ihe %traiegTtL mJndgeincni of Ihe ch£ll'ity. All c()st% are Jllocatcd bctwcen th¢ expenditui'e caleg7{)ri¢% ()f iht .%ialeinenl c)f Finallcial Activities on a b4Ni% dc%igned to r¢flecl the ol. the reN(iurLe. Cu%t% ielatinki 10 a p<lrtlLul activity are allocated directl)i othei'.s are apportioned on an appropriate basis. 1.5. Tangible fixed #ssets #nd depreeiation Depreciaiion i.s provided at raies calculaied to write off the cost les.% Ye4idual value of each c ssei over iis expecied useful life. as follows.. Fixturei, Fiiiings & Equipment 20% straight line ba414 pey annum. 1.6. Fund Accounting The ullre%li'i¢ted fund% of the Lharity Li)mpri%e thn%e m()nic% whiLh dre dvJildhle t() be u.%cd toward4 tlie meeting (If tlie chai"ilJble i)hjective% ol the LhJJ"5ty ai ihe Tetiun uf ihe M411)Jgemeiit Comniilt¥L. The re41ricied fiinds are iiionies r2( Iscd or received for a spccific PUTP05e and accounied tor in LL()rd<illLe with lh¢ doiii)r% imp(i%ed LÉ)ndilion%. P&ge 6
Valley Veterans Notes to the financial statements for the yegr ended 31 December 2022 continued 1.7. Debtors Trade debtors and other dcbtOl"% ¢ilC reL()gini%ed til ihe %ettleineni ainouni due afier any irade di%¢ounis offered. Prcpayments arc valued di the amouni prepdid nei ot any discount% due. Creditors Credil()r% ar¢ rcLI)gTni%ed whL'ie ihe charlly has d present obligation iesulting fiom a past event ihal will probably re.%ult in the transfer of tund% to a third party dnd the 'irtiuuni due to %eitle th¢ ()hligalti)n caJJ be measured or estimated reliably. Crcditor% are norm&Llly recogni%ed ai iheir %etilement amnunt aster allowing l(Trr any trdde diN¢ouni.4 due. Ineome & Endowments Total Year ¢0 31112122 Total Year to 31112121 Included within Inconie & End()wment% for the year are.. Donations, Grants, Credits: Doiiations Grants- Adfei'iad Age UK Arnold Cldrk CFinWdle Cais Liiniied Cronfd Gymunedol Interlink RCT National Lottcry Platinum Jubilee Fund Postcodc Community Veteran% Award Grant Wrexham Couniy BC 5.920 3.1175 50,0(K) 17,5(X) 2.250 1.0 5.OlXI 8.750 4.940 2,0(J) 1,000 I,-f 00 25,000 211.IIIK) 500 400 I,o(x) 84,320 65,515 Page 7
Valley Veterans
Notes to the financial statements
for the year ended 31 Decevnber 2022
coniinued
Creditors: amounts falling due
within one year
2022
2021
AcLrudl% and deferred income
1,200
Analysis of Net A&sets hetween Fuiids
Unrestrieted R&$tricted De.$ignated Total
Tangible Fixed A.%%el4
Nei Current As%el%
1,179
5,576
6.755
2.713
41.754
44,467
Re12ted party transactions
There were no related party trttn%
Charity Registration number 1192172 Valley Veterans Indepedent Examiner5 Report and Financial Statements for the year ended 31 December 2022
Valley Veterans Contents Page Inforniarioii ITtdependeni Examiner%' Report Staiemenl of Findncial Activities BdlanLe Shc¢t N()te8 10 the Finaiieial Statements 5-10
Valley Velerans Information Charity Nuinbei. IY2172 The Tru.%iee% who Nei'ved in office ihroLighoul the ycdr wer¢ a% foll()ws - Andrew Jone David HJii)mond R<)y C141rk Regisiered Office T()n dnd Gelli Communiiy Hub Dinhllm Park T()n Penire Pei)Ire CF417DX Prsncipdl Banker.% Barc11c Y Bank Pl l (M)/1 01 Bute Stieet Trenrchy MÈd Glaiknoiglln CF4? 6AN Auditor R.H. Jelf% & Rowe Chclnered Accouiitdnt.% 27128 Gelliwaft¢d Road Poniypridd CF.17 2BW Page I
Valley Veterans INDEPENDENT F.XAMINER'S UNQUALIFIED RF.PORT UNINCORPORATED CHARITY report to the trustee% on n)y exainination of ihc financidl stateii)ents of Valley V¢teran% I'the charity I for Èl)e year ended 31 DeLeii)ber 2022 which comprisc the Stateinent of Fiiidncial Activitics. thc BJlancL Shcet dnd rclJled n(Trlt%. Thi% rep(irt ]% made %(Ilely 10 the ch:Iriiy % Iru%tee.%, dN J body, in 1( Lcordance wilh seLlion 145 of the Ch<ifiiie% ALI ?() I l. My w()rk ha% been undenaken so Ihai I mioht siaie io ihe Lhariiy % iru%iee% tho%e n)atrer4 1 am iequii'ed io Slate to Iheiii IT) this report dnd tor no othei. purpn%¢. To th¢ full¢4t cxlent pcrmilted by Idw. I do noi accept or a%%uiiie re%pon%ibility Ic) iinyon¢ other than th¢ charity the ¢hai'ily'% tru.%tee4 as a b(xly. l()r Iiiy w()rk, li)r Ihi% repori. i)r for (he opinionN I have fornied. Re5ponsibilitles and basls of report A% the iru%(ee% ol. Ihe Lhdrily you dre I'espon¥ible for (he prepdralioii ot rhe financiol .%t<ltementN in aLcordai)Le wilh the requiremen(% of ihe Charitie% Aci 2011 I'the Act'l. I report in I'espeL( Ot my examinaiion of ilie charity % finic ncial 4iaiemeni% carried oiil uiider %eciion 145 of ihe ALI <ind in carrying oui Iny ex<iniination I have followed all the <ipplicablc DiTCCtion% given by ilie Chic riiy Commi%.4inn uiider %eLti()n 14.51511bl ()l- Ihe ALI. An independent examsndtion does no( involve gdihering <ill (he evidence thai would be required in an audi( dnd ¢()n%equenily d()e% ni)t L()ver dll (he niaiier% ihdi ali dudiior considei'% iii ¥iviiig Iheir opinion ()n ihe financidl statement5. The planning and conduct of an audit goes beyond ihe liJDited as%urance that an independent examination can provid¢. Cun%equenily I expr¢s% opinion 4L% to whether the fillai?cial tateYneni% pre%ent <1 'irue :Iiid fair, view and my repoi1 is liiniied to thii4e specific matters se( out in ihe independeni examiner's %taiemen(. Independent exaniiner's statement I hJi'e Lompleied my examin4iiion. I confirm th£11 no maierial matters have come to my aiiention in conneciion with the examin£lli()n giving me Ldu¥e to believe (hat in Jny material respect= al accountiiig records were not kept in re%peet ol. the charity d% iequiied by 4eciion 1311 ()f the Act; OT b) the finJniidl %ldt¢menl% do not aLL()rd with th()tse reL()rd%; i)r cl the financial sfatements do not comply with the applicable requirements conccriiing the foriii and conient of accuunÈ% 4¢t out in the Charitie4 IAcLount.4 tind Rep()TINI RegTuIti(i()n% ?11118 ()Iher Ihan any re4uirement thai the JCLI)unt¥ give a 'tnie and Idir wiew which 18 noi a matier considered as part ol. an independent ex<imination. I have ni) LonLei'n% and have Lome aLro44 no other mailer% in connection with the exJminalion 10 whiLh aiteniion .%hould be di'awn in this I'eport in order to enci ble proper understaiading ot the financial siaiemeni.% to be reiiched. Mr. Robert Thomas Bsc FCA R.H. Jet'15 & RO.e Chartered ALCQUlltants 271216 Gelliw#sted Road Pontypridd C'F37 2BW Date: 30 D&h6irf ioz) Page 2
Valley Veterans Statement of Financial Activities for the vear ended 31 December 2022 Note5 Unre5tiicted Restricted Total Total year t(y J1112122 year t 3J112121 Ineome & Endowments Dondtion4. Grant4, Credit -34.A?11 -fjII.IMIO 114,-321 65,-515 Total Income & Endoivments 34,320 50.000 84,.120 Expenditure Charitable a¢livitie Govcri)ancc Co%1% 26.726 ?IMI 39.761 66,487 1,2(H) -37,869 Tot81 Expenditure 27,926 39,761 67,687 39,069 Movement sn total funds for the year: Net Income/(F.xpenditure) for the Period 6,394 16,633 26,446 Fund Balance5 brought fo1d 3,682 Fuod Ilalances carried forward 2,712 41,75. 44,467 27.8.34 Page 3
Valley Veterans Balance Sheet
s at 31 Decetnber 2022
2022 2021 Notes Fixed Assets Tangible assets 6.755 1,572 Current Assets Cash at bank and in hand 41,012 27,462 41,012 27.462 Creditors: amounts fglling due within one year (3,300) (1,200) Net Current assets 37,712 26,262 Total Assets Less Current Liabilities 44,467 27,834 Funds Unrestricted Funds Restricted Funds 2,712 41.755 (3,682) 31,516 io 44,467 27,834 The financi&l statements were approved by the Trustees on 23 October 2023 and signed on its behalf by ¢z¢¥YThW,.¥Jrt4 ..Um Page 4
Valley Veterans Notes to the finaneial statements for the year ended 31 December 2022 Statutory Inforniation Villey Velercln.% IS cl IEgi%tercd Lhllrily i)perdtingi in Wille% in the United Kingdom. The regi%iered ol'fice 1% Ton ii nd Gelli Comniuiiily Hiih, Dinhdm Park. Ton Peiitre. PLI)Ire. CF41 7DX. The nature nltlic ehariiie.4 operaiion% and principal activilie% is disclo%ed wihin th¢ Tru¥tee% Report. The fintincial %lil(einei)t4 are PTCSCJJtcd in Sterling 1£), the ¢hgil"itie% lunciional currency. ai)d I'ounded io the Iicar¢%t pound. The %ign2ti¢anl dCL()Unting paliLie% applied in the prepardiion of th¢%e tinaiicii¢ l %tatenienl% 41re %el out bclow. Th¢%¢ poliLie% h¥ive been con%isiently applied io cl11 year4 prc%ented unlc%% otheiwi.%e %talcd. Aeeibynting Polieies l.l. Basis tsf preparation and assessinent of 2OiDg concern The acLouiit.% Ifinaiicial 4tatcm¢nt.%l hdve been prepdred uner the hi%torical cosi conveniion with irems reiogni%¢d al c()%t oi. Iran%aLiion value unlc%% otl)erwisc 4latcd in the rLlevant i)i)(el41 ti) Ihc%L JL¢()unl%. Th¢ IindnLial %t<ltemeni% have bLeii PlLpared iii accnrdaiic¢ wilh the Sidiement ()1" ReLommeJ)ded Practice: Accouniing and R¢portiRg by Charities preparing Iheir clCCOIII)ts in accordaiice with Financi111 -) issued on 16 July 2014 Repi)rling S(andcird Jppliciible in the UK and RepubliL of Ireland IFRS 10? and the Fin&inLial Repoi'liiig Srandai'd. applicJblc iii Ihc United Kiiigd()m and Republic Dl. Irel<ind IFRS 10214ll)d the Ch'i11es AL(2011. The charity con%titutes d publie henefii eniiiy defined by FRS 102. The iiu%lees con%id¢r that there Lire no material Linceflciiniies about the chai'ilies ability io continue ds a going LtsnLeni over Ihe next yedl.. The truNiee¥ coiifirm Ihai as far a% thcy arc awJi¢, Ihcre is no ielevdni audit Infornil(l of whiLli the Lh.Irily'% examiner 1% ui)aware; and that they have taken all the %iep% Ihdt ihey ()utshi [() have l'iken io make thcm4clvc8 'Te ol. dny relevant intormaiion and to establish that the ex47mineY is aware of that iiifoi'malioii. 1.2. Taxation The charity not liablc for Tax on it8 chariiable aciivities. Page 5
Valley Veterans Notes to the financial statements for the year ended 31 December 2022 continued 1.3. Income & Endowments All Incomc & Endowmcnts arc iR¢ludcd in thc SiJt¢iiient of FiliaLia ALtivitic% whcii thc hai'ity i% ci)litl¢d [() Ihc inc()m¢ Jnd the ani()unl Lan be quaiitiliLd with reLI.%OI)able JccuraLy. The lollowin¥ 4pecitic poliLie¥ are applied to pariicular Ldiegorie¥ of incoine.. V()luntary inL()me ]% reLeived by wlY ()l- dundli()n%, tsil'ts and uncondiiii)nkil and dre iliLluded in I'iill ii) Ihe Siatcment of Financial Aclivilic4 whLli receivable. Whei'c iiicome is d¢pcnd¢nt upon pcrfoi'mancc aiid %pccifiL delivciJblcs, inconic inLluded in Ihe Siaiemeni ol Financial Aciiviiie% a8 the Lhariiy earns the riLYht io con.%idercllion by il% pertorn)anLe. WheiE r¢l¢vjinl, donttied .%ervices ttnd are included at the value to thc chcirity where ihs% be qLianiifked. The value of services provided by voluRt¢er. ha.% noi beeii inLluded in thc%e iiccounts. Investment income 1% includ¢d when I'CLCiVdble. 1.4. Expendlture Liabilities are I'ecognised as expendilui'e soon ds there is a legal or con%iructive obligaiion L()minitling the Lhurity l(Tr IhLlt expenditure. it 1% pFobLihle tlitil %eiilemenr will be requiitd and th¢ dinc)unl ()[ Ihe ()bligdli()n Lan be mea%ured I'elidbly. All expendiiure 1.% aLCOElI)Led f(Ir ()n an iLL[udI. bd%i%. Expendilui'e include% aiiy V AT which cannot bc fully COVered. Cliarildbl¢ cxpciiditure ¢i)IDpJ"i%e% ih()%e LO.%t% incuttcd by the LhxTily in the delivery ot its activities and %¢rvice% tor it% bencliciaries. It includes IM)th co%t% thdt Lan be alloLiiied direLtly ti) %u¢li activilie.% and Iho%e co.%1% of an indireLt naiure nLLe4sary' to.%upporl iliein. Gui'ei'ndncL Lo%1% inLlude Iho.%¢ Li)st% d%soLiated with me¢lii)g th¢ ¢uiisliluii<)ndl and %lalUt(Iry requirement% of the Lh<(Y and incllide Ihe dudit fee% and Losis linked io ihe %traiegTtL mJndgeincni of Ihe ch£ll'ity. All c()st% are Jllocatcd bctwcen th¢ expenditui'e caleg7{)ri¢% ()f iht .%ialeinenl c)f Finallcial Activities on a b4Ni% dc%igned to r¢flecl the ol. the reN(iurLe. Cu%t% ielatinki 10 a p<lrtlLul activity are allocated directl)i othei'.s are apportioned on an appropriate basis. 1.5. Tangible fixed #ssets #nd depreeiation Depreciaiion i.s provided at raies calculaied to write off the cost les.% Ye4idual value of each c ssei over iis expecied useful life. as follows.. Fixturei, Fiiiings & Equipment 20% straight line ba414 pey annum. 1.6. Fund Accounting The ullre%li'i¢ted fund% of the Lharity Li)mpri%e thn%e m()nic% whiLh dre dvJildhle t() be u.%cd toward4 tlie meeting (If tlie chai"ilJble i)hjective% ol the LhJJ"5ty ai ihe Tetiun uf ihe M411)Jgemeiit Comniilt¥L. The re41ricied fiinds are iiionies r2( Iscd or received for a spccific PUTP05e and accounied tor in LL()rd<illLe with lh¢ doiii)r% imp(i%ed LÉ)ndilion%. P&ge 6
Valley Veterans Notes to the financial statements for the yegr ended 31 December 2022 continued 1.7. Debtors Trade debtors and other dcbtOl"% ¢ilC reL()gini%ed til ihe %ettleineni ainouni due afier any irade di%¢ounis offered. Prcpayments arc valued di the amouni prepdid nei ot any discount% due. Creditors Credil()r% ar¢ rcLI)gTni%ed whL'ie ihe charlly has d present obligation iesulting fiom a past event ihal will probably re.%ult in the transfer of tund% to a third party dnd the 'irtiuuni due to %eitle th¢ ()hligalti)n caJJ be measured or estimated reliably. Crcditor% are norm&Llly recogni%ed ai iheir %etilement amnunt aster allowing l(Trr any trdde diN¢ouni.4 due. Ineome & Endowments Total Year ¢0 31112122 Total Year to 31112121 Included within Inconie & End()wment% for the year are.. Donations, Grants, Credits: Doiiations Grants- Adfei'iad Age UK Arnold Cldrk CFinWdle Cais Liiniied Cronfd Gymunedol Interlink RCT National Lottcry Platinum Jubilee Fund Postcodc Community Veteran% Award Grant Wrexham Couniy BC 5.920 3.1175 50,0(K) 17,5(X) 2.250 1.0 5.OlXI 8.750 4.940 2,0(J) 1,000 I,-f 00 25,000 211.IIIK) 500 400 I,o(x) 84,320 65,515 Page 7
Valley Veterans
Notes to the financial statements
for the year ended 31 Decevnber 2022
coniinued
Creditors: amounts falling due
within one year
2022
2021
AcLrudl% and deferred income
1,200
Analysis of Net A&sets hetween Fuiids
Unrestrieted R&$tricted De.$ignated Total
Tangible Fixed A.%%el4
Nei Current As%el%
1,179
5,576
6.755
2.713
41.754
44,467
Re12ted party transactions
There were no related party trttn%