The church dedicated to the Ascension of the Theotokos (Holy Mother of God), in the vicinity of Novo Brdo, was built in 1354-55. Its founder was Serbian landowner Dabiživ with his brothers Haran and Bogoje, father Kaluger, and mother Višnja, which is evidenced by three inscriptions, two carved in stone and one fresco painted.

The church is a single-nave edifice, vaulted, with a semi-circular altar apse and a subsequently added narthex. Restoration of the church during the Turkish reign and the long absence of the roof caused deterioration of most of the fresco paintings, and those that survived are in a very poor state.

Of the frescoes in the altar apse, only fragments remain - parts of one figure from the Officiating Church Fathers, parts of the Holy Virgin's Throne, a bust of an archdeacon in the diaconicon niche, and a fragment of the apse dado decoration.

On the west part of the south wall of the nave, a fragment of Christ before Anna and Caiaphas is preserved, and on the west wall only a figure of one of the Holy Melodists.

The greatest number of preserved frescoes are in the narthex. In the lower zone of the south wall, there are frescoes of the standing figures of an Archangel, a Holy Warrior, and a Saint - possibly St. Sava the Serbian and St. Marina, depicted in the act of killing a demon.

Also on the south wall of the narthex, in the middle zone, there is a washed-out and badly damaged founder's composition with three figures. As the inscriptions are not preserved, we can only presume that it represents members of the founder's family - founder Dabiživ with his wife and child. Next to this fragment, on the western section of the wall, there is a scene of St. George saving the king's daughter.

On the south part of the narthex vault, three scenes from the Life of the Virgin are partially preserved - Annunciation to Anna, Annunciation to Joachim, and the Meeting of Joachim and Anna.

Conservation works, carried out in 1963, restored the original appearance of the Vaganeš church to some extent.