OPTIMA COMMUNITY ASSOCIATION

Charity number: 1074648
Removed charity

Charity overview

Activities - how the charity spends its money

Provision of social rented housing and access to affordable home ownership. Regeneration of an area adjacent to Birmingham city centre, creating mixed tenure communities Working with partner organisations to improve the social, educational, health and job prospects of residents in the area

Income and expenditure

Data for financial year ending 31 March 2016

Total income:
£15,249,000

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Donations and legacies £0
Charitable activities £14.92m
Other trading activities £0
Investments £24.00k
Other £309.00k

Total expenditure:
£14,579,000

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Raising funds £0
Charitable activities £14.41m
Other £0

£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 £168.00k
Charitable expenditure £14.41m
Retained for future use £670.00k

Fundraising

This charity does not raise funds from the public

Trading

This charity does not have any trading subsidiaries.

Trustee payments

One or more trustees receive payments and/or benefits from the charity for being a trustee

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
  • People Of A Particular Ethnic Or Racial Origin
How the charity helps:
  • Makes Grants To Individuals
  • Makes Grants To Organisations
  • Provides Buildings/facilities/open Space
  • Provides Services
  • Provides Advocacy/advice/information
Where the charity operates:
  • Birmingham City
  • Dudley
  • Solihull

Governance

Registration history:
  • 15 March 1999: Standard registration
  • 30 June 2017: Removed (Excepted charity)
Organisation type:
Charitable company
Other names:

No other names

Gift aid:
No information available
Other regulators:
No information available
Policies:
  • Complaints handling
  • Conflicting interests
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding vulnerable beneficiaries
Land and property:
No information available

Financial history

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Financial period end date

Income / Expenditure 31/03/2012 31/03/2013 31/03/2014 31/03/2015 31/03/2016
Total gross income £10.27m £13.25m £13.50m £14.58m £15.25m
Total expenditure £10.38m £12.56m £12.51m £13.24m £14.58m
Income from government contracts N/A N/A N/A £0 £0
Income from government grants N/A N/A N/A £0 £0
Income - Donations and legacies £0 £0 £0 £100.00k £0
Income - Other trading activities £319.00k £293.00k £347.00k £343.00k £0
Income - Charitable activities £9.94m £12.95m £13.15m £14.12m £14.92m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £7.00k £3.00k £6.00k £13.00k £24.00k
Income - Other £0 £0 £0 £0 £309.00k
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £10.10m £12.28m £12.24m £13.03m £14.41m
Expenditure - Raising funds N/A N/A N/A N/A £168.00k
Expenditure - Governance £30.00k £19.00k £34.00k £40.00k £12.00k
Expenditure - Grants institution £2.00k £1.00k £0 £34.00k £20.00k
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £27.00k £45.00k £16.00k -£15.00k £0

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 31/03/2012 31/03/2013 31/03/2014 31/03/2015 31/03/2016
Own use assets £67.80m £66.58m £67.36m £67.23m £111.87m
Long-term investments £0 £0 £0 £0 £0
Other assets £2.09m £2.91m £4.03m £6.35m £8.46m
Defined benefit pension scheme asset or liability -£2.64m -£3.16m -£2.50m -£3.83m -£3.49m
Total liabilities £58.93m £58.84m £60.01m £60.84m £106.81m

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 2017 Not submitted
Accounts and TAR 31 March 2017 Not submitted
Annual return 31 March 2016 12 August 2016 On Time
Accounts and TAR 31 March 2016 12 August 2016 On Time
Annual return 31 March 2015 05 January 2016 On Time
Accounts and TAR 31 March 2015 17 December 2015 On Time
Annual return 31 March 2014 05 December 2014 On Time
Accounts and TAR 31 March 2014 05 December 2014 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 04/12/1998 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 01/03/1999 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 09/03/2000 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 18/12/2007 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 16/12/2011 AS AMENDED BY SPECIAL RESOLUTION REGISTERED AT COMPANIES HOUSE ON 25/01/2011 AS AMENDED BY SPECIAL RESOLUTION REGISTERED AT COMPANIES HOUSE ON 20/04/2012

Charitable objects

2.1 THE COMPANY'S OBJECTS ARE: HOUSING 2.1.1 TO CARRY ON PRIMARILY FOR THE BENEFIT OF THE COMMUNITY IN BIRMINGHAM THE BUSINESS OF: A) PROVIDING HOUSING AND ANY ASSOCIATED AMENITIES, SERVICES OR ASSISTANCE FOR PEOPLE IN NECESSITOUS CIRCUMSTANCES ON TERMS APPROPRIATE TO THEIR MEANS; B) PROVIDING SPECIALLY DESIGNED OR ADAPTED HOUSING AND ASSOCIATED AMENITIES, SERVICES OR ASSISTANCE FOR PEOPLE WHO NEED IT OR THEM BECAUSE OF CHRONIC SICKNESS, AGE OR MENTAL OR PHYSICAL DISABILITIES; C) PROVIDING ANCILLARY HOUSING NECESSARY FOR THE ATTAINMENT OF THE OBJECTS; D) PROVIDING HOUSING AND ANY ASSOCIATED AMENITIES, SERVICES OR ASSISTANCE FOR ANY OTHERS FOR WHOM IT IS CHARITABLE TO DO SO; ADVICE AND ADAPTATIONS 2.1.2 TO PROVIDE SERVICES OR ASSISTANCE PRIMARILY TO PEOPLE IN THE BIRMINGHAM AREA WHO ARE AGED, WHO HAVE MENTAL OR PHYSICAL DISABILITIES OR WHO ARE CHRONICALLY SICK, BY ARRANGING OR CARRYING OUT IMPROVEMENTS, REPAIRS OR MAINTENANCE TO HOMES OCCUPIED BY THEM AND TO PROVIDE ASSOCIATED AMENITIES SPECIALLY DESIGNED OR ADAPTED TO MEET THEIR DISABILITIES AND REQUIREMENTS; EDUCATION AND VOCATIONAL TRAINING 2.1.3 TO PROMOTE THE ADVANCEMENT OF EDUCATION GENERALLY IN THE AREA OF BENEFIT; 2.1.4 TO PROMOTE THE PROVISION OF TRAINING AND ASSOCIATED FACILITIES FOR THOSE RESIDENT IN THE AREA OF BENEFIT; RECREATIONAL FACILITIES 2.1.5 TO PROMOTE THE PROVISION OF COMMUNITY RECREATIONAL AND LEISURE TIME FACILITIES IN THE AREA OF BENEFIT TO THOSE WHO NEED SUCH FACILITIES BECAUSE OF THEIR YOUTH, AGE, INFIRMITY, DISABILITY, POVERTY OR SOCIAL OR ECONOMIC CIRCUMSTANCES, WITH THE OBJECT OF IMPROVING THEIR CONDITIONS OF LIFE; RELIEF OF POVERTY 2.1.6 TO PROMOTE THE RELIEF OF POVERTY IN THE AREA OF BENEFIT; GENERAL 2.1.7 TO PROMOTE ANY OTHER CHARITABLE PURPOSE WITHIN OR FOR THE BENEFIT OF THE INHABITANTS OF THE AREA OF BENEFIT; 2.1.8 TO PROMOTE SUCH OTHER CHARITABLE PURPOSES BENEFICIAL TO THE COMMUNITY CONSISTENT WITH THE ABOVE AS THE COMPANY SHALL IN ITS ABSOLUTE DISCRETION DETERMINE; AND 2.1.9 TO PROMOTE OR CARRY OUT CHARITABLE OBJECTS THAT CAN BE UNDERTAKEN BY A COMPANY REGISTERED AS A REGISTERED PROVIDER WITH THE REGULATOR.

Area of benefit

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

BIRMINGHAM