Abstract: An adjustable valve incorporated into a faucet or shower head which is manually manipulatable in order to control water flow at the faucet or shower head with the adjustable valve including interchangeable components to enable the faucet and shower head to be provided with an aerator or jet spray arrangement and enabling the components to be assembled in a manner which will reduce the number of different components necessary to assemble either a faucet or shower head which includes an adjustable valve therein. The adjustable valve includes a rotatably supported crown or shower head bell which can be manually rotated to adjust the valve with the valve itself including a restrictor having orifices therein and a valve plate having flat surfaces and a cavity associated with a central opening to enable control of flow through the orifices.