COMPANY REGISTRATION NUMBER 07124248
# **THE OPTIMA LOGISTICS FOUNDATION LIMITED FINANCIAL STATEMENTS**
**& TRUSTEES ANNUAL REPORT 31 JANUARY 2023**
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
## **FINANCIAL STATEMENTS YEAR ENDED 31 JANUARY 2023**
## **CONTENTS**
**CONTENTS PAGE** Trustees Annual Report 4-9 Balance sheet 11 Surplus Statements 12 General Fund Statement 13 Notes to the accounts 14-16
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Company number : 07124248 Registered charity number : 1138277 Directors : Mr Simon Powell-Smith Mr Kevin Williams Mr John Main Trustees : Mr Kevin Williams Mr John Main Secretary : Mr Simon Powell-Smith Registered Office : DC1 Pochin Way Middlewich CW10 0TE Bankers : Barclays Bank**
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## **Trustees Annual Report**
## **For the period ended 31 JANUARY 2023**
The Trustees present their report together with the financial statements of the charity for the period ending 31 January 2023.
## **Trustees**
Mr Kevin Williams Mr John Main
**Bankers** Barclays
## **Headlines**
Current partnerships are solidly in place with several supermarkets; the foundation is continuing to build on the donor’s faith, that donations of food and non-food products were now being able to donated to the foundation with assured anonymity for the donors.
This faith has led to an increase of donations to meet the foundations goals for 2022/23.
As in prior years several clients of an associated company, Optima Logistics Limited, have continued to donate white goods, water purifiers, clothing, food and shoes and these have been used in the UK and Sub Sahara Africa to help the poor and needy in these countries.
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The Foundation is now fully supporting local foodbank and charities in the local Cheshire and Daventry area and within a 50 mile radius, it is important to the Trustees to support this community.
The process is now fully streamlined to allow an expedient picking and packing method to allow the short life products to be delivered to foodbanks within 48 hours of landing at the warehouse.
Fund Raising has gone well in year through summer and autumn activities this has totalled £208k, this in itself is a nett cash decrease on last year. However the quantity and yield of donations of food and products has continued to increase.
The Foundation continues to share the Middlewich and Daventry office space in 2022/23 with an associated company, Optima Logistics Limited (OLL), this has allowed the Foundation to use the admin staff at OLL for the purposes of assisting with the admin of the charity as well as managing the new warehouse facility. As a “payback” for this, the Foundation has allowed OLL to use the parking facilities for overnight parking of their tractor and trailer units, there is also a 12k square foot allocated warehouse facility to allow the loading and offloading of trailer units.
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## **Goals for 2022/23**
- Continued opportunity to support local communities
- Maintain partnerships with national companies to source wheelchairs and medical equipment.
- Set up grant’s to help local people who are experiencing ill health or disability.
- Continually improve routes for taking surplus food parcels into local foodbanks
- Continue to support local charities through donations of products and food and to potentially look at expanding this to other charities in the Cheshire and Northamptonshire area
- Onward development of the National and International Disaster Strategy
- Continue to offer a crisis voluntary team to work on international rescue projects
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## **The Need**
The Optima Logistics Foundation Limited was set-up by people living or working in Manchester. They were struck by 2 core issues:
- 1) The significant need of the people in the local area who were in need of wheelchairs and commodes either on release from hospital or who were home bound through ill health or disability. The average waiting list was proven to be 9-10 weeks.
- 2) Despite a strong network of palliative care in the area, there was still a need for funds to assist the very ill or terminally ill to ensure that they receive the best comfort.
The Optima Logistics Foundation was therefore set-up to enable and mobilise the charity to meet some of the need of disabled and the long-term ill in Manchester and across the North-West initially. This has expanded to the East Midlands.
Since early 2015 the Foundation has expanded its remit to a sourcing mechanism to take surplus food parcels to local foodbanks, these partnerships are now increasing and the Foundation is now using approx. 77% of the capacity of the warehouse for this alone.
As part of the growing awareness of the Foundation, the Foundation has been approached by several disaster agencies to assist in bringing products and services into areas that have been declared states of emergency.
## **The Aims & Activities of The Optima Logistics Foundation**
The principal activity of the Charity is to relieve poverty or financial hardship.
Continued progress is being made on understanding the local, national and international requirements.
## **Structure, Governance and Management**
The Optima Logistics Foundation is registered as a limited company and as a charity limited by guarantee. The charity was registered on 6th October 2010.
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## **Governing Document**
The charity is governed by the Memorandum and Articles of Association. Taken together these documents set out the formal structure and organisation of the Charity, how it generally manages its affairs and how it will comply with the requirements of the Companies Act 1985 as a company limited by guarantee.
## **The Trustees**
The Trustees have met on 5 occasions in this last year. The Trustee’s bring a range of relevant skills to effectively govern and manage the organisation. The Trustee’s do not take any drawings or charge any expenses for their services.
## **Policies**
The following policy documents have been written and approved by the Trustee’s during the course of the year:
- Equal Opportunities.
- Safeguarding
Kevin Williams
## **22[nd] June 2023**
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
## **BALANCE SHEET AS AT 31 January 2023**
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Note 2023 2022
£ £ £ £
Current Assets
Bank Accounts 1,676 5,748
Current Liabilities
Amounts falling due within one year 0 0
Net Current Assets 1,676 5,748
Total Assets less Current Liabilities 1,676 5,748
Net Assets 1,676 5,748
Capital funds
Unrestricted Funds 1,676 5,748
Total Funds 1,676 5,748
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The trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of s.477(1) of the Companies Act 2006. The Trustees acknowledge their responsibility for ensuring that the charity keeps accounting records which comply with s.386 and s.387 of the Companies Act 2006 and for preparing accounts which give a fair and true state of the charity as at the end of the financial year and of its profit and loss for the year ended in accordance with s.396 and which comply with the other requirements of the Act relating to the accounts so far as applicable to the company.
The financial statements were approved by the trustees on 22/03/2022 and signed on their behalf by :
Kevin Williams - Trustee
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
## **FINANCIAL STATEMENTS AS AT 31 January 2023**
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Unrestricted Total Total Funds
Note Funds 2023 Funds 2023 2022
Incoming Resources
Incoming Resources from generated
funds £208,114 £208,114 £162,053
Other Incoming resources £ - £ - £ -
Total Incoming Rsources £208,114 £208,114 £162,053
Resources Expended
Charitable Activities
Governance Costs £212,186 £212,186 £162,088
Total resources expended £212,186 £212,186 £162,088
Net Movement in Funds (£ 4,072) (£ 4,072) £415
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
**FINANCIAL STATEMENTS AS AT 31 January 2023**
**General Fund 2023 £ Balance B/Fwd 5,718 Surplus/(Deficit) for the year (4,072) Balance C.Fwd 1,676**
**1,676**
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023
## **1. Accounting policies**
The financial statements are prepared under the historical cost convention (as modified by the revaluation of certain assets), in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005.
## **Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
## **Depreciation of fixed assets**
Costs of minor additions to fixed assets, defined as those costing less than £1,000 each, are expensed in the year in which they were incurred.
## **Fund accounting**
General accumulated funds are unrestricted funds available to the charity for its general purposes and includes funds designated by the charity for a particular purpose; the use of such funds remains at the discretion of the charity's officers and trustees.
## **Foreign exchange**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
## **Legal status**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £5.
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2. Creditors
Amounts falling due within one year:
2023
£
General Creditors -
Accruals and deferred income -
––––––
-
––––––
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023
## **3. Fund management and going concern**
The General Fund is in surplus. Donations are anticipated to be received to cover the costs already incurred and any future costs.
## **4. Incoming resources**
**Voluntary Income** Donations and grants £208,114
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## **THE OPTIMA LOGISTICS FOUNDATION LIMITED**
## NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2023
## 5. Other Support Costs
2023
Travel and subsistence - Sundries - Printing, postage and stationery - _____
_____
## 6. Charitable activities
Education support - Charitable Support - Other support costs - ______ -
______
## 7. Governance Costs
Accountancy 2,750 Bank Charges - Legal and Professional - Other Support Costs 5 209,436
______ 212,186
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