Filter Child Record on Parent Form

OK, this should be easy :)

Create the fields on the Parent form called Year and look that up own to the Children.  Call that lookup field Parent Year Filter

Then, make a report in Values (children) where the filter is:

any

Parent Year Filter is (blank - just leave blank)

Parent Year Filter  equals the value in the field [Year] (ie the year field on the value record.

Note that if you only have a date field on the child values record, then make a new formula numeric on the Value table called Year  with a formula of

Year([value date field]) 

The Year field on the parent should either be a free form numeric data entry field, or if you prefer, you can make it a numeric field with choices from a list.

Then go back to the form properties for the Parent form where you have the embedded list of values, and change that Report Link field to use the new report that you just created.   So the report link gives you just the children of the parent and the filter lookup will further filter the child report.