2025-03-31-accounts

Trustee’s Annual Report & Financial Statements

For the period ending 31[st] March 2025

FOR THE YEAR ENDED 31[st] March 2025

Report and Financial Statement

CONTENTS

Trustees Annual Report	3-6
Independent Examiner’s report	7
Statement of Financial Activities	8-11
Other	12

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TRUSTEES ANNUAL REPORT

The Trustees have pleasure in presenting their report for the financial year ending 31[st] March 2025.

REFERENCE AND ADMINISTRATION DETAILS

Charity Name: Valley Church (formerly Frontline City Church) Charity Number (OSCR): SC038692 Charity Tax No (HMRC): CR61088 Constitutional form: Unincorporated Association Constitutional form date: 11[th] September 2007 Accounting ref date: 31[st] March Principal Address: 1 The Meadows, Stirling, Stirlingshire. FK9 5AE. Scotland.

Charity Trustees:

Bankers: HSBC Bank. 2-8 Murray Place, Stirling. FK8 2DD

The senior Staff member responsible for day-to-day management of the charity:

The charity has income below £250,000, and as such is eligible to prepare its accounts on a “Receipts and Payments” Basis. The governing document does not require the charity to prepare fully accrued accounts and neither does it require an audit. The accounts have been prepared in accordance with SORP 2015 issued by the Office of the Scottish Charity Regulator in its role as a SORP making body, recognised by the Financial Reporting Council.

The charity has had the accounts independently examined by , 6 Holmwood Grove, 11 Netherlee Place, Glasgow G44 3YL.

STRUCTURE, GOVERNANCE, MANAGEMENT

Governing document: The Trust is administered in accordance with the terms of the Trust Deed.

The organisational structure and decision-making process: The Trustees are the managerial arm of the church and charity. They meet regularly and make decisions for and on behalf of the church. Major decisions of a managerial and financial nature are minuted.

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How trustees are appointed and recruited: The trustees were those appointed on the establishment of the trust and represent the minimum number required. Appointment and removal are in accordance with the Trust Deed which requires that appointment is approved by unanimous agreement of the existing trustees and removal of any trustee by the unanimous agreement of the others.

Risk Management: It is considered by the Trustees that there is no foreseeable risk where the charity is exposed.

Affiliations and connections: The church and/or charity is affiliated with the “Assemblies of God, Great Britain”. (“Assemblies of God” is a company limited by guarantee (No. 2873415) registered in England, having its registered office at No 1-2 The Cottages, Deva Centre, Manchester, England, M3 7BE, and is also a registered charity (No. 1032245)).

OBJECTIVES & ACTIVITIES

The purpose of the charity as set out in the constitution: The purpose of the charity is the advancement of religion; provision of assistance to those in need through age, illhealth, disability, financial hardship or another disadvantage.

Summary of the main activities in relation to these objects: During the year the charity continued weekly meetings. These meetings are open to the public and include meetings in homes. Ministry includes visitation and counseling.

Volunteers: The church and/or charity would not be able to function without the help of volunteers. The Trustees would like to thank all volunteers for their invaluable contribution to the life of the church and/or charity. The Trustees acknowledge that service to the public benefit would not be possible without these volunteers.

ACHIEVEMENTS AND PERFORMANCE

The Church changed its name from “Frontline City Church” to “Valley Church” during the financial year. This was approved by OSCR on the 28[th] June 2024.

On the 19[th] June 2024, resigned as Trustees. Chair thanked them for their exemplary service.

On the same day, the following Trustees were appointed;

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was employed on a part time basis as the Pastor of the Church. signed the acceptance of offer on the 27[th] June 2024.

The Sunday Church meetings moved to the Stirling Court Hotel in July 2024.

FINANCIAL REVIEW

General review:

For the financial year ended 31[st] March 2025, the church recorded total receipts of £55,336. This reflects significant growth from the prior year’s total income of £19,167, and demonstrates increasing engagement and generosity within the church community.

Income

Gift-Aided donations totalled £24,043, with a further £24,995 received in non-Gift Aid donations. An additional £4,784 was reclaimed through HMRC under the Gift Aid scheme.

Expenditure

Total payments for the year amounted to £42,739 (comprising £42,029 from unrestricted funds and £710 from restricted funds), reflecting a substantial increase from the previous year’s expenditure of £16,198. The primary areas of spending included:

Salaries and Wages: £11,033

Rent: £10,321 (includes a deposit of £157 which is a repayment or rent paid on behalf the Romanian Church in Glasgow – “Fountain Church”)

Outreach Ministry & Hospitality: £2,844

Professional Services: £2,100

Equipment: £2,670

Missions: £867 (restricted). These were funds designated for Clackmannanshire ministry, and were used for that.

Further costs were incurred across ministry expenses, travel, conferences, insurance, software, and administrative functions to support the church’s operations and ongoing outreach initiatives.

Net Position

The church recorded a net surplus of £12,598 for the year (£13,308 from unrestricted funds and a £710 drawdown of restricted funds), compared with a surplus of £2,969 in 2024.

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The financial effect of significant events: None

Investment policy & objectives set: The Trustees consider that the proceeds from 27 King Street, Stirling will remain in the current account at the present time.

Charities policy on reserves: The current reserves policy of the charity is that the bank account must contain at least £500 to cover emergency expenses. The Trustees review this policy at each meeting.

Going Concern: As at the date of approval of this report, and the financial accounts, the Trustees have assessed that there is no uncertainty about the Charity’s ability to continue as a going concern.

THE FUTURE

Plans for future periods: The Trustees continue to inspect local properties for meetings. There is £1,150 in a building fund for this purpose. These are restricted funds.

Factors likely to affect financial performance or position going forward: The Trustees are looking to purchase a building. It is possible that the Church may apply for a loan. The loan amount will not be beyond the ability to pay.

The Trustees believe that this report is a fair, balanced and an understandable review of the charity’s structure, legal purposes, objectives and activities, financial performance & financial position.

The Charity Trustees declare that they have approved the report above. Signed on behalf of the Charity Trustees.

…… Date : 14[th] September 2025 Position : Trustee

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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

REPORT TO THE TRUSTEES OF “VALLEY CHURCH”

Scottish Registered Charity SC038692

I report on the accounts of the charity for the year ended 31[st ] March 2025 which are set out on pages 8 to 11.

Respective responsibilities of Trustees and Auditors

The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of Independent Examiner’s statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.

Independent Examiner’s statement

In the course of my examination, no matter has come to my attention

1. which gives me reasonable cause to believe that in any material respect the requirements: • to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and

2. to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations

have not been met, or

1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Date 17 / 9 / 2025

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Valley Church

Statement of Income & Expenditure For the 12 months ending March 2025

Scottish Registered Charity SC038692

	Unrestricted	Restricted	Total	Prior	Further
	funds	funds	funds	period	Details
				total
				funds
	£	£	£	£	£
Income & Endowments from:
Donations & Legacies	50,352		50,352	16,603	1,7
Charitable Activities
Other Trading Activities					2
Investments
Other	4,984		4,984	2,564	3
Total	55,336		55,336	19,167
Expenditure on:
Raising Funds
Charitable Activities	42,029	710	42,739	16,198	4,7
Other					5
Total	42,029	710	42,739	16,198
Net Income/(expenditure)	13,308	(710)	12,598	2,969
Transfers between funds
Reconciliation of funds					6,7
Total funds bought forward	48,910	1,860	50,770	47,801
Total funds carried forward	62,218	1,150	63,368	50,770

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Notes to the Statement of Financial Activities Income & Endowments Income from Donations & Legacies General donations Restricted Funds – Fountain Church Restricted funds – Missions, Ministry Building Fund Income from Other Trading Activities Other Income HMRC Gift Aid payments Sale of Asset Expenditure Expenditure on Charitable Activities Restricted Funds – Fountain Church Restricted Funds – Missions Reconciliation of funds HSBC Stirling 40-41-60 0011967

2025 2024 Note 49,038 14,185 1 518 1,900 7 49,038 16,603 2 4,784 2,564 3 200 4,984 2,564 42,029 13,623 4 (157) 675 867 1,900 7 42,739 16,198 63,368 50,770 6

	Unrestricted	Restricted		Prior
STATEMENT OF BALANCES	funds	funds	Total	Period
Cash & Bank bal at start of the year	48,910	1,860	50,770	47,801
Surplus/(deficit) shown	13,308	(710)	12,598	2,969
Cash & Bank bal at end of the year	62,218	1,150	63,368	50,770

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Valley Church

Scottish Registered Charity SC038692 Receipts & Payments Financial Year 31st March 2025

	Receipts & Payments Financial Year 31st March 2025
	Receipts Donations Received - Gift Aid Donations Received - Non-Gift Aid Designated donations – Missions, events Designated donations – Building Fund Restricted Funds – Fountain Ch Donat’n Restricted Funds – Fountain Ch Bank Sale of Assets Tax Reclaimed (Gift Aid) Total Receipts Less: Payments Advertising Bank Charges Computer Costs Conferences Equipment Honorarium Insurance Kitchen requisites Literature & resources Ministry Expenses Missions Office Other Professional Outreach Ministry & Hospitality Printing Professional Services Recruitment Repairs & Maintenance Rent Salaries & Wages Software Subscriptions, Licenses & Fees Travel & Accommodation	2025 2024 Note Unrestricted Restricted 24,043 24,043 7,606 24,995 24,995 6,579 1,314 1,314 1,900 7 518 200 200 4,784 4,784 2,564 55,336 55,336 19,167 1,3 348 348 22 67 67 60 10 10 771 771 10 2,670 2,670 2,600 2,600 324 324 300 153 153 149 149 48 141 141 4,300 867 867 108 108 89 200 200 2,844 2,844 4,449 7 284 284 2,100 2,100 2,000 464 464 927 927 10,164 (157) 10,321 675 11,033 11,033 1,084 1,084 548 1,235 1,235 1,120 1,538 1,538 2,575 42,029 710 42,739 16,198 4 13,308 710 12,598 2,969
	Total Payments Net Receipts (Payments)

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BALANCE SHEET

AT 31[st] March 2025

CURRENT ASSETS Cash at bank NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted Restricted TOTAL FUNDS MOVEMENT IN FUNDS Unrestricted General Fund Restricted Clackmannanshire Fountain Church Building Fund TOTAL FUNDS	2025 2024 Note £ £ 63,368 50,770 6 63,368 50,770 _ _ 63,368 50,770 _ _ 63,368 47,801 _ _ 63,368 50,770 ===== ===== 62,218 48,910 1,150 1,860 63,368 50,770 1/4/2024 Net Mov’t Transfers 31/3/2025 6,7 48,910 13,308 62,218 867 (867) (157) 157 1,150 1,150 1,860 (710) 1,150 50,770 12,598 63,368

These notes form part of the financial statements

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VALLEY CHURCH Heart for the Valley You Tube: Valley Chruch Scotland Instagram: Valley Church Stirling Facebook: Valley Church Spotify: Valley Church Scotland (podcast) htt valle churchscotland.com LEAD PASTORS .3t each other in Peterhead in 2014, married 2 years later and now have two precious little boys. After attending bible college in Australla went on to become a youth pastor supported bs 'Iilst she pursued her career as a technical teacher. They love adventures and spending time with people oher food! For the last 5years they have been building a church in Leeds but have returned to Scotland to pioneer Valley Church. They are excited to lead Valley Church and to be based in Central Scotland. 12