Charity reoistralion numbgr 293983
THE VALLEY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

THE VALLEY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Richard Femie, FRSA- Chair
Peter Slansfield, BA
Ben E￿er, LLB
Amanda Kirl(patrick BA, Msc
Anjula Sharma-smith
Gavin Browning (appointed 13 January 2024., resvJned 31
Juty 20241
Carol Hortock (aprK)inled 1 May 2024)
Shaun Macdon8ld (appointed 19 February 2025)
Alan Thorpe, Bcom, FCA {resigned 15 September 2023)
Charity number
293983
Principal addre$$
2 Norfolk Fatrn Close
Woking
Surrey
GU22 8LL
Independent examiner Gavin Browning
Ashursl House, Cedar Road
k)king
Surrey
GU22 OJJ

THE VALLEY TRUST
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
Independent Examiner's report
Slatement of financial actimttes
Balance Sheet
Notes to the financial statements
8-15

THE VALLEY TRUST
TRUSTEES, REPORT FOR THEYEAR ENDED 31 JULY 2024
The Irustees present their report and finan¢tal slalements for the year ended 31 July 2024. The financial
statements have been prepared in accordance with the accounting policies set out in note 1 to the
financi81 statements and comply with the charrty's trust deed, the Charities Act 2011 and "Accounting
and ReFK)rting by Charities.. Statement of Recommended Pra(Aice applicable to chariiies preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective 1 January 2019)..
Objectives
The Trust provides professional independent counselling to chikjren in the school environment.
Aclivities
Counselling is undertaken by self-employed accredtted counsellors with experience of working wrth
children, between 5 & 18 years of age. It operates wrthin the Surrey and SUTTounding counlies.
Schools advise the Trust of the houts required per week and are invoiced either monthly or temly in
advance. As the seThice is prowded through the school, and paid for by them. no pupils 8re excluded for
personal finanaal reasons.
The trustees have reganl to the gumlance issued by the Chartiy Commission and in their view the Trusts,
activities fully comply with these requirements.
Risk assessment
The council of management conducts an annual risk assessment to identrfy 8ny risks to which the chartty
m8y be exposed and to establish procedures and systems on an ongoing basis lo mitigate these risks
in line wrth Charity Commission guvJelines.
Achievernems and perfornian¢e
The Trust has provided counselling seNices between 45 and 50 schools during the year, mostly forthe
complete 3 tems and utilised the servi￿$ of bthveen 25 and 30 counsellofs.
As seen by the financial income the Trust has been successfully growing ri's seThices and the total
number of hours counselling in the year was circa 12,000.
Eviden￿ shows that on-site independent counselling has seen a reduclion in psychologic81 St￿$$ in
pupils who have acce$5 to it, as well as improvement in beh8v¢our and edu¢alional achtevements.
A survey by the 8rilish A550ciation of Counselling & Psychotherapy {BACP) showed Ih81'.
86% of ￿$V￿)nderS believed that counselling improved school attendance.
73% believed that it helped improve behawour.
73% believed il improved academic achievements.
The Tftjsl continues to improve communications with schools and our counsellors, and to build on the
hKJh standard of service al￿a{lY offered.
As a 5elf-funding Charity it has no fvndfaising activities.

THE VALLEY TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2024 (continued)
Financial review
Revenue for the year ended 31 July 2024 was £459.975 {2023'. £418,380). In 2023-24 we made grant5
totalling £6,111 compared with £17,262 in 2022-23.
Reserves policy
The Trustees, policy is lo maintain unrestricted reserves at a level at le8St equivalent to total costs for
the next three months, which woukj amount to approximalely £113,154. At 31 July 2024 the Trust had
unrestricted funds tolalling £175.141.
Investment policy
The TNslees' policy is lo hokl sufficient funds to meet day-1041ay operating requirements on demand,
with any s￿￿luS funds invested on deposit for one year or less. During the year ended 31 Juty 2024 the
surplus cash funds of the Gharty were heky in on-demand And fixed term depostt accounts wtih various
banks and in a Fund & Share Account wf(h an investment managerlsee note 13 to the Accounts)- The
investment was sold during the year due lo increasing market it)stAbility and falling unit value. All the
financial oruanisations with whom funds are invested are authorised and regulated by the FSA. The
deposit accounts were selected lo provide security for the funds. The Fund and Share Account selected
was not based on ethical considerations bul was selected in order lo achieve higher ￿umS than are
currently available through fixed-interesl investments with an acceptable level of risk.
Structure, goveinance and management
The Valley Tmsl is govemed by its trust deed. The OTiJinal trust deed was dated 18 Ma￿h 1986 and
was amended on 7April 2005.
The tnjstees who seNed during the Period and up lo Ihe date of signature of the financial statements
were..
Richard Femie, FRSA- Chair
Peter Slansfiehl, BA
Ben Elger, LLB
Amanda Kirtpatrick BA, Msc
Anjula Shamia-smith
Gavin Browning (apFK)inled 13 January 2024,. ￿$*gned 31
July 2024)
Carol Hodock (appointed 1 May 2024}
Shaun Macdonald {appointed 19 February 2025)
Alan Thorpe, Bcom, FCA (15 September 2023)
The Trust Deed specifies thal there shoukl not be less than four trustees and not more than eight,. that
the trustees can appoint new trustees and that any trustees so appointed musl stand for election at the
next Annual General Meeting. Every trustee is elected to office at an AGM for a period of three years
unless he or she dies, resigns or is cert¢fied as unsound in mind. A retiring tmstee can sland for re-
election at the Annual General Meeting al the end of their three-year leffli in office.

TRUSTEES, REPORT F(kg THE YEAR ENDED 31 JULY 2024

THE VALLEY TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31
JULY 2024
The Iru5tees are responsible for preparing the Truslees, Report and the financi81 statements in
accoidance with applicable law and United KingdomAccounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The 18w applicable to charities in England and Wales requires the trustees to p￿pare fin8n¢ial
statements for each financial year which give a Ifue and fair Mew of the state of affaits ofthe ¢harity and
of the incoming resources and application of ￿sOurceS of Ihe charity forthal Period.
In preparing these finana81 statements, Ihe tfustees are requi￿￿ to..
selecl suitable accounting policies and then apply them ￿nsIStentIy'.
- obsetve the Met￿c￿$ and principles in the Charities SORP"
make judgements and e5tiin8tes that are reasonable and prudent.,
state whether applTrcab￿ accx)unting standartls have been followed, subject lo any material departures
di%closed and explained in the financial statements., and
prepare the financial statements on the going concem basis unless it is inappropriate to presume Ih8t
the chariiy will continue in operation.
The Ifuslees are responsible for keeping sufficient accounting records th8t disclose with reasonable
8ccuiaGy at any lime the financial wsf(ion of the charity and enable them to ensure thal the finanual
statements comply with the Charities Act 2011, the Charity (Accounts and Reports) RegiJlalion$ 2008
and the provisions of the Iw5t deed. They a￿ also reswnsible for safeguarding the assets of the chartty
and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities.

THE VALLEY TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE VALLEY
TRUST
I report to the trustees or7 my examination of the financial statements of The Valley Trust {the chartyl for
the year ended 31 July 2024.
Responsibilities and basis of report
As the trustees of the charrty you are responsible for the preparation of the financial statements in
accordance with the requiremen15 of the Charities Acl 2011 {the 2011 Act).
l ￿pOrt in respecl of my examination of the charity's financial statements C8rried out under sedion 145
of the 2011 Act. In carrying oui my examination I have followed all the applicable Directions given by the
Chanty Commission under section 14515){b) of the 2011 Act.
Independent Examiner's statement
Since the charily's gross income exceeded £250,000 your examiner must be 8 member of a body listed
in section 145 of the 2011 Act. I confim that l am qualified lo undertake the examination because l am
a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirn that no matters have come to my attention in connection
with the examination gi￿ng me cause lo believe that in any materi81 respect..
accounting records were not kept in resttct ofthe charity as required by section 130 of the 2011
Act., or
2. the finan￿81 statements do not accord with those records.. or
3. the financial statements do not comply with the applicable requirements conceming the form
and content of accounts set oul in the Charittes {Accounls and Reports) Regulations 2008 other
than any requirement that the accounts give a tnJe and fair view which 15 t70t a matter conswjered
as part of an independenl examination.
I h8ve no concerns and have come across no other matters in connection wrth the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial
statements to be ￿aChed.
Gavin Browning ACA
Ashursl House. Cedar Road
Woking
Surrey
GU22 OJJ
Dated..
Z4 Ai zos

THE VALLEY TRUST
STATEMENT OF FINANCIAL ACTIVITES INCLUDING INCOME AND
EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024
Unrestricted
funds for 12
months
2024
Unrestricted
fund5 for 12
rnonths
2023
Notes
Charitable a¢tiviies
Investments
459,975
3,286
418,380
721
Total income
463,261
419,101
ndttitrÈ ¢n:
Raising fjjnds
Charitable activities
734
451,881
643
420,204
Total exF*ndityrè
452.615
420,847
Net Ilossesllgains on investments
io
(2,142)
195
Net movement in funds
8.504
(1.5511
Fund balan￿ at 1 August 2023
166.637
168,188
Fund balances at 31 July 2024
175,141
166,637
The statement of financial activtlies indudes all gains and losses recognised in the PeTiOd.
All income and expenditure derive from continuing actiwbes.

13
15
16
11517
15
21
134269
17&141
175 141
186.637
175 141
186.637
174141
166ffi7

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 JULY
2024
Accounting policies
Charity infomialion
The charity is govemed by ils Iru5t deed. The charitvs business address is 2 Norfolk Fa￿￿ Close,
lth)king, SuTTey GU22 8LL.
Accounting ¢onvention
The financial statements have been prepared in accordance wilh the charily's memorandum and artKle5
of a$s0￿8110￿, Ihe Charities Act 2011 and 'Accounting and Rewrting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK And Republic of Ireland {FRS 102) (effective 1 January 2019)".
The charity 15 a Public Benefrt Entity a5 defined by FRS 102.
The financial slalements have departed from the Charriies {Accounts and Reports) Regulations 2008
only to the extent required lo provKle a tfue and fair wew. This departure has involved following the
Statement of Recommended Practice for charities a￿lyIng FRS 102 ralbef than the version of the
statement of Recommended Pradice which is refefred to in the Regulations but which has since been
wf(hdrawn.
The financial stalemenls are prepared in sterling, which is the functional cuffency of the charity.
Monetary 8mounls in these financial statemerrts are rounded to the nearest £.
The financial slatements have t)een prepared under the historical cost convention. modified to include
certain financial instruments at fair value. The principal accounting policies adopted are set oth below.
Going Concern
At the time of approwng the financial statements, the trustees have 8 reasonable expectation that the
Chartiy has adequate resoijrces to continue in operation81 existence for the foreseeable future. Thus the
trustees continue to adopt the goiro concem basis of accounting in preparing the financial slatemenls.
Charitable funds
Unrestricled fund5 are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are sijbject to specffic condition5 by donots as to how they may be used. The PUTP05es
and uses of the restTiCted funds are set out in the notes lo Ihe financial statements. There were no
restricted funds during the year.
Income
Income is recognised when the charity is legally entr(led to it after any perfomiance conditions have
been mel, the amounts can be measured reliabty, and li is probable that income will be received.
Income from charitable activrties is recognised when the counselling activities at each school have been
performed, reflecting the hours of counselling carried out. If the number of houfs of counselling
pertormed at a school i5 less than the hours paKI for, the shortfall is I￿ated as defeffed income, and is
treated as an incoming resource when the counselling is pertormed.
Investment income is recognised in the period in which the charity is entltled to ￿Ceipt.

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY
2024 (continued)
Expenditure
Expenditure is recognised once there is a legal or con5truclive obligalion lo transfer economi¢ beneffit to
third paty, it is probable that a transfer of economic benefits will be required in setuement, and the amount of
the obligation can be measured reliably.
Expenditure is dassified by activity. The costs of each aclivtty are made up of the total of direct costs and
shared costs, induding sUPPOrt costs involved in undertaking each activty. Direct costs atbibutable to a single
8cb.vity are allocated threc11y to that activity. Sha¥ed costs vthich ¢onthbute to more than one activity and
support costs which are not attributsble to a single activity are apporb.oned betsyeen those ath"vities on a basis
consislenl the use of resourcès. Central staff Costs are allocated on the basis of time spent, and
depreciation Charges are allocated on the portion of the asset's use.
All expenditure is accounted for on an acciuals basis and is inclusive of irrecoverable VAT. Expenditure is
recognised where there is a legal or constructive obligation to make payments to third parb"es. it is probable
that the setuement will be required and the obligation Can be measured reliably.
Costs of raising fvnds comprise of investment manager costs, trading costs and the costs incurred by
the charity in inducing third parties to make volLTrntary conlributions lo r(, as well as the cost of any
aclivities w7th a fiJndraising purpose.
Expenditure on charitable aclivibes includes the cc6ts of delivering seNices and other acivities
undertaken to fiJrtheT the purposes of the chartty and their associated sUPPOrt costs.
Grants are charged in the year that they are approved for payment. No grants are deferred.
Fixed asset investments
Fixed asset investments are initially measured at transaclion price exduding transaction costs, and are
subsequenly measured at fair value at each reporting date. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
Impainnent of fixed assels
At each reporting end date, the charity reviews the carying amounts of its tangible assets to determine
whethef there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).
Cash and cash oquival¢nts
Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-term liquid
investments with ori&inal malurities of three months ot le&s.

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 JULY
2024 {continuedl
Financial instruments
The charity has elected to appty the prowsions of Seclion 11 '8asic Financial Instruments. and Section
12 '0ther Financial Instfuments Issues, of FRS 102 to 811 of its financial inslTumenls.
Financial instruments are recognised in the chafity's balan￿ sheet when the charity b￿MeS party lo
the contractual prowsions of the instnjment.
Basic financial assets
Bas￿ financi81 assets, which include debtors and cash and bank b81ances. a￿ initially measured al
transaction price including transaction costs. Financi81 assets classified as receivable wrthin one year
are not amortised.
Basic flnanclal liabililiÈs
Basic fir¢an¢ial liabililies, including creditors and bank loans, are initially reccwjnised al Iransaction price.
Financial liabilities classified as payable wrthin one year are not amortised.
Tra(le creditors 8re 0￿￿JationS to pay for goods Of seThtces that have been ao]uired in the or(linary
course of operations from suppliers. Amounts payable are classified as current liabiliiies if payment is
due within one year or less. If not, they are presented as non-cuTrerrt Itabiliiies. Trade Credito￿ are
recconised at transaction price.
Derecognlllon of financial Ilal)ilftles
Financial liabilrties are dereccgnised when the chartty's contractual oblKJatiOns expire or are discha(ged
or cancelled.
1.10 Employee benerrts
The cost of any unused holiday entitlement is ￿CogniSed in the period in which the employee's serwces
are received.
Temiination benefrts are recognised immediately as an extknse when the charily is demonstrably
committed to terTninale the employment of an employee or lo provKle le￿i￿allOn benefrts.
1.11
Retirement benefils
Payments to defined contribution retirement tenefrt sthemes a￿ charged as an expense as they fall
due.
Critical accounling estimatgs and judgements
In Ihe application of the charity's accounting p)licies, the trustees are required to make judgement5,
estimates and assumptions about the carrying amount of assets and liabilities that are not feadily
apparent from other sources. The estimates and associated assumptions are based on historirAI
experience and other factors that are consKlered to be relevant. Adu81 ￿SultS may drffer from these
estimates.
The estimates and undetying assumFrtions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the peric¥J in which the estimate is revised where Ihe revtsion affects only
that period, or in the peri¢JJ of the revision and fuiure periods where the remsion affecls both current and
future periods.
10

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY
2024 (continued)
Charitable activities
Year end
2024
Year end
2023
Schools counselllng
459,975
418,380
Raising funds
Yearend
2024
Year end
2023
Fundraisin
and ublicit
Finders, fees
Inv￿r￿ent management costs
500
234
250
393
734
643
Charitable activities
Year end
2024
Year end
2023
Staff costs
Schools counselling
Self-employed supemsors
Counsellors training
26,474
389,831
21.140
2,355
24,611
345,611
19,538
2,888
439,800
392,648
Grant funding of activities (see note 6)
6,111
17,262
Support costs {see note 7)
Govemance costs (see note 7>
3,257
2,713
4,585
5,709
451,881
420,204
11

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY
20241continued)
Grants payable
Year end
2024
Year end
2023
Grants to inslttutions..
Hook Junior School
Metslham Park School
Roseberry School
To￿Vorth Girls, School
Godalming College
Christ's College
SLrttors Grammar School
Heston Primary School
Cleves Jun¢or School
LEO Academy Trust
Long Close School
(400)
3,500
2,800
1,540
3,730
150
2,000
2.375
1,167
(170)
1,680
2.333
400
2,000
268
17.262
The negative amounts for Hook Junior School and To￿Orth Girls. School relate to adjustmen151o grants
given in advance but the total hours expected were not able lo be prov¥Jed in full for the prior year.
Support costs
Support Governance
costs
costs
Support Governance
costs
costs
2024
2023
Insurance
Advertising. travel
and barring semces
Office expenses.
phone & intemet
Accounts
preparation &
examination fees
Legal & professional
Web5rte re-deson &
other governance
542
542
598
598
1,227
1,227
768
768
1,488
1,488
3,219
3,219
560
35
560
35
3.000
3.000
1.544
2,118
2.118
1.165
1,165
3,257
2,713
5.970
4,585
5,709
10,294
All supwrt costs relate to Charitable aclimties.
Trustees
None of the trustees (or any persons connected with them) received any remuneration duriro the year
and none of the trustees We￿ reimbursed for any travelling expenses (2023: £nil).
The charily has indemnified the trustees against any liability by taking out insurance costing £542 for
the year (2023.. £5981.
12

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY
20241continued)
Employees
Year end
2024
Number
Year end
2023
Number
The average monthly number of employee5 during the year was=
Em
lo ment costs
Wages & salaries
Pension costs
25,844
630
24,046
565
26,474
24,611
The￿ were no emptoyees whose annual remuneration exceeded £60,000.
10
Net (lossesllgains on investments
Year end
2024
Year end
2023
Revaluation of investments
2.142
195
11
Taxation
The charity is exemKrt from lax on income and gains falling Within section 505 of the Taxes Acl 1988 or
section 252 of the Taxational Chargeable Gains Act 1992 to the extent that these awe applied to its
¢haril8ble objectives.
12
Tangible fixed assets
Listed
in￿stments
Cost
At 1 August 2023
Wrttten off
568
568
At 31 July 2024
Depreciation and impalm)ent
Al 1 August 2023
Written off
568
568
At 31 July 2024
Carrying amount
At 31 July 2024
Al 31 July 2023
13

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY
2024 (continued)
13
Fixed a$$et investment$
Llsted
inve$tmenis
Cost or valualion
Al 1 August 2023
Valuation changes
DisFX)sals
103,538
(2,142)
101,396
At 31 July 2024
Carying amount
At 31 July 2024
At 31 July 2023
103.538
The investment at 31 July 2023 comprised $8,453,287 uniis in HaffJ￿ave$ L8nsdowne mU￿1-Manager
Equ¢ty & Bond Trust. The decisiors was taken to sell these units in November 2023 in order to place
funds into interest bearing accounts.
14
Financial instruments
2024
2023
Carrying amount of financial assets
Equity instruments measured al current market value
Instruments measured al cost
103,538
58,357
15
Debtors
2024
2023
Amounts falling due within one year:
Trade deblors
Schools counselling charges receivable (acc￿ed income)
Prepayments
3,620
7,420
1.477
8,147
4.720
2,690
12,517
15,557
16
Current asset investments
2024
2023
Unlisled investments
58,357
14

THE VALLEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY
2024 (continued)
17
Creditors: amounts falling due within one year
2024
2023
Other taxatbons & social security
Deferred income (see note 18)
Trade creditops
Other creditors
Accnjals
179
23,931
27,921
620
211
202
48,041
17,728
2,699
2,500
71.170
18
Deferred income
2024
2023
Arising from Schools counselling services
23,931
48,041
Deferred income is included within current liabilities.
Movement in deferred income
Al 1 August 2023
Resources deferred during the penod
Amounts released to income from premous periods
48.041
23,931
48,041
28,099
48,041
28,099
Al 31 July 2024
23,931
48,041
Deferred income is made up of Future Services £nil12023.' £21,140) and Hours Owed £23,931 {2023.'
£26,901).
FLEture Services afe amounts invoÈced priof to 31 July 2024 for services to be provwjed after that date.
Hours Owed are amounts invoiced prior to 31 July 2024 for seTrices expected to be provKled prior to
that date, bul the number of hours prov￿jed has fallen short of the invoiced hour5.
19
Retirement benefit $¢heme
Defined contribution scheme
The charlty operates a defined corrtribulion scheme for all qualtying employees. The assets of the
scheme are hekl separately from those of the charity in an independently administered fund.
The charge to the ststement of financial activriies in respect of defined contribution schemes was £630
12023.. £565).
20
Related party transactions
There were no disclosable related party transactions during the year (2023: none).
15