**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
- to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
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.
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)**||
10
## **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.
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