CURO PLACES LIMITED

Charity number: 1074574
Removed charity

Charity overview

Activities - how the charity spends its money

Curo provide affordable homes in Bath, Somerset, Wiltshire & Bristol for those on low incomes & aim to deliver excellent housing management, maintenance & support services. We support neighbourhoods through initiatives to help regenerate & sustain local communities. We promote the involvement of residents in the development of its services & management of the organisation.

Income and expenditure

Data for financial year ending 31 March 2014

Total income:
£59,031,000

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Donations and legacies £0
Charitable activities £49.75m
Other trading activities £0
Investments £0
Other £9.28m

Total expenditure:
£43,672,000

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Raising funds £0
Charitable activities £37.75m
Other £5.57m

£0 investments gains (losses)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £5.92m
Charitable expenditure £37.75m
Retained for future use £15.36m

Fundraising

This charity does not raise funds from the public

Trading

This charity does not have any trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • The Prevention Or Relief Of Poverty
  • Accommodation/housing
  • Economic/community Development/employment
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
How the charity helps:
  • Makes Grants To Organisations
  • Provides Buildings/facilities/open Space
  • Provides Services
Where the charity operates:
  • Bath And North East Somerset
  • Bristol City
  • Somerset
  • South Gloucestershire
  • Wiltshire

Governance

Registration history:
  • 08 March 1999: Standard registration
  • 11 August 2015: Removed (Exempt charity)
Organisation type:
Charitable company
Other names:
  • SOMER (Working name)
  • SOMER COMMUNITY (Working name)
  • SOMER COMMUNITY HOUSING TRUST (Previous name)
Gift aid:
No information available
Other regulators:
No information available
Policies:
No policies declared
Land and property:
No information available

Financial history

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Financial period end date

Income / Expenditure 31/03/2010 31/03/2011 31/03/2012 31/03/2013 31/03/2014
Total gross income £39.51m £43.82m £52.71m £55.55m £59.03m
Total expenditure £29.40m £34.14m £33.69m £43.47m £43.67m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A N/A N/A N/A N/A
Income - Donations and legacies £0 £0 £0 £0 £0
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £39.00m £41.23m £47.03m £49.67m £49.75m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £0 £0 £0 £0 £0
Income - Other £1.24m £2.59m £5.68m £5.89m £9.28m
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £29.05m £34.05m £29.57m £39.02m £37.75m
Expenditure - Raising funds N/A N/A N/A N/A N/A
Expenditure - Governance £47.00k £87.00k £92.00k £119.00k £353.00k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £1.17m £1.06m £4.03m £4.33m £5.57m

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/03/2010 31/03/2011 31/03/2012 31/03/2013 31/03/2014
Own use assets £175.88m £192.31m £233.90m £249.75m £274.95m
Long-term investments £0 £0 £0 £0 £0
Other assets £9.80m £9.69m £18.82m £20.75m £32.82m
Defined benefit pension scheme asset or liability -£7.28m -£6.50m -£8.17m -£10.22m -£7.37m
Total liabilities £154.26m £165.05m £182.08m £198.05m £227.92m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2015 Not submitted
Accounts and TAR 31 March 2015 Not submitted
Annual return 31 March 2014 28 January 2015 On Time
Accounts and TAR 31 March 2014 16 September 2014 On Time
Annual return 31 March 2013 06 January 2014 On Time
Accounts and TAR 31 March 2013 06 August 2013 On Time
Annual return 31 March 2012 08 January 2013 On Time
Accounts and TAR 31 March 2012 24 August 2012 On Time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 24/06/1998 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 24/02/1999 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 14/11/2000 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 20/11/2001 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 02/04/2002 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 18/12/2006 NOW ARTICLES ADOPTED BY SPECIAL RESOLUTION DATED 15/12/2009 AS AMENDED BY CERTIFICATE OF INCORPORATION ON CHANGE OF NAME DATED 08/02/2013 AS AMENDED BY SPECIAL RESOLUTION REGISTERED AT COMPANIES HOUSE ON 21/05/2013

Charitable objects

3.1.1 THE PROVISION AND MANAGEMENT OF HOUSING (INCLUDING BUT NOT LIMITED TO SOCIAL HOUSING) AND ANY OTHER AMENITIES, FACILITIES AND SERVICES CONNECTED WITH OR INCIDENTAL TO THE PROVISION OF HOUSING IN EACH CASE FOR RELIEF OF PERSONS IN NECESSITOUS CIRCUMSTANCES, THE AGED, DISABLED (WHETHER PHYSICALLY OR MENTALLY), HANDICAPPED, AND CHRONICALLY SICK. 3.1.2 THE PROVISION OF RECREATIONAL OR OTHER LEISURE TIME FACILITIES IN THE INTEREST OF SOCIAL WELFARE WITH THE OBJECT OF IMPROVING THE CONDITIONS OF LIFE FOR PERSONS IN NECESSITOUS CIRCUMSTANCES, THE AGED, DISABLED, HANDICAPPED AND CHRONICALLY SICK WHO ARE RESIDENTS OF THE CHARITY, OR DEPENDANTS OF SUCH RESIDENTS LIVING WITH SUCH RESIDENTS OR RESIDENTS WITHIN THE COMMUNITIES IN WHICH THE CHARITY OPERATES, PROVIDED THAT THEY HAVE NEED OF SUCH FACILITIES BY REASON OF THEIR YOUTH, AGE, INFIRMITY OR DISABLEMENT, POVERTY OR SOCIAL AND ECONOMIC CIRCUMSTANCES. 3.1.3 THE RELIEF OF POVERTY AND THE ADVANCEMENT OF EDUCATION FOR THE BENEFIT OF THE COMMUNITY.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED