ANNUAL REPORT LATIN LINK 2023-24 REPORT AND FINANCIAL STATEMENTS OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 T Latin Link COMMUNITY WITH A CALLING Latin Link COMMUNITY WITH A CALLING LATIN LINK Report and financial statements of the trustees for the year ended 31 March 2024. ijol The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2024. This report also contains the information required by the directors, report under company law. TABLE OF CONTENTS Welcome 21 Auditor's report Objectives and activities 24 Statement of financial activities Stay programme 25 Balance sheet 12 Stride programme 26 Statement of cashflows 14 Step programme 27 Notes to the accounts 16 Serving in Britain and Ireland 40 Structure, governance and management 17 Mobilising churches 42 Administrative details 18 F inancial review (Iti , LATIN LINK WELCOME LATIN LINK ANNUAL REPORT 2023-24 re are certain words and phrases that stay in your mind for a long time. One such rase became an important part of the L3nguage of the local church I was part of some years ago, it related to how people perceive and engage with church. The phra* hadjust three words., betieve, behave, I￿LOng. The interesting thiry about these words was not just the words themselves, but the order of tkEm - the idea teing that, in relation to church engagemert older generations may fi'rst bebeve and trust in Christ, then behave in a way that is fi'tting for a Christiary and then as a consequence. have a nse of belonging. ConVe￿elY, at that time, the point was beiro made that younger generations would first seek to beloro, then behavo then believe. But isn't true that all of us - regardless of age, nationalty, or culture - have a deep-felt need to belong? It's part of what rnakes us human, quote was a key feature ofthe RHS Chelw Flower Show 2024 garden created ty St. James, Church Piccadilly. the church where William Temple was rector during the First World War. Even in the face ofwar, welcome was a priority. James Butler. ￿￿) of our ￿dlLEd to increasing commitments elseknthere. We're so grateful for the people the L￿d has br￿ght ourway to seNe his mission through Latin Link and we continue to pray fc( his provision of the right Feople in the right place at the right time. The Wonder of Welcome, has en a theme for Latin Link during this past financial year, and I would eKourage you to read Issue 51 of Latinfile to s K)w this is being worked out through the mary ministries in which our workers are serving, and indeed much ofthe content of this report will also testify to that The principle of welcome underpins evewing wthin the Latin Link ccfflmunty: the Lord is contj'nuing to build his church and many of our workers have had thejoy of wdcomirKJ new members into their respectwe church families As ever, we not only give thanks to God for all he I￿S equipped us for and enabled us to achieve in the past year, but we give thanks to God foryou, wittu4t whom this vitsl ministry would not survve. So many of you pray faithfully, give sacrifi'cially, and encourage wiltingly. We trust you IL continue to stand wth us as we nawgate the many challenges before u& and as we work to see the kingdom of God extended through the welcome we offer to othe God bless, Here in Britsin and Ireland, our whole team ths worked unrelentingly to ensure our organisation r)ot only operates effectively, Ixjt is a pla￿ where people can bdoro. It has b*n a joy to welcome new Step￿￿ and stride￿ to *Ne in Latin America, and whiLst we were very sad to lose Joanna Mccree and WILL CatchpoLe from our ￿rarnMes team, we were delMJhted to welcome Tory Lewry. We also felt the 1055 of Noreen Bennett and Of course, scripture is clear about the importance of the church being a place of welcome: "I was hungry. And you gave me something to eat. I was thirsty. And you gave me something to drink. I was a stranger. And you invit&J me in" (Matt 25.35. NIRV). Wilbam Temple's famous quote convos the same chattenge: "The church exists primaiilyfor the benefitof those who do not belong to if. Incidentally, this Jo Jowett Chairof Trustees ANNUAL REPORT 2023-2024 J% ['..[. r I, OBJECTIVES AND ACTIVITIES CHARITABLI OBJECTIVES This is a reflection of our commitment to integral mission.. we bebeve that sharing the gospel includes addressing both physical and spiritual needs. Key to our work is partnering wth Latin American Christian5 for the advance of the mission of Christ incipally by placing people stTrtegicalty in ministries of Mission Mobilisation.. the Reduction of Bible Povety. and the I￿rea* of Human Dignity. To advance the mission of ChrisL principal￿ in and from Labn America and a￿0 amongst Spanish and Portugue* speaking people elsewhere in the wcffld, and in particular (but without limitation to the foregoing) tojoin in evangelism, church-planting. the discipliro of Christians and the training of leaders, working in partnership with Christians in Latin America. To prowde rdief of tho* who are sufferiro hardship or injustice by reason of their physicaL sociaL ewronmentsl or economic conditions. incIL￿ing working to FKevent the cau*s of such hardship and injusti￿. We seek to enable the Latsn American churc flourishing in depth and numbers to better fulfil its mission in the world. VALUES VISION ￿ATEMENT Our mission swngs from a desire to be inv￿ed with God in his worl( and to bring honour to him. We believe that enabling people to follow their heart to fulfi'l a caLb'ng is how God uses Latin Link to achieve his purposes. Our vision is to see vibrart BIble-be￿eWng Christian communities in every part of Latin America. impactiTh3 their neighbours, their societies and the wider wortd. WHATWEDO The charity works in partnership with churches to *nd and receive irKIMduaLs, families, and teams to and from Latin Amencan communities, to share the love of God. This takes place through three programmes: Step short-tenm mission and discipleship programme for teams, lasting 3-16 weeks Stride.. placements for individuals, couples or families. Lasting 6-24 months 11! Strl!.. open-ended Pla￿ments Lasting three years or more. This longer-tem commitrnent follows on from a ￿10-year Stride. In all three programrnes. our members are involved in helping Local churches and Christians to m￿t a diverse range of needs, from caring for children at risk to training church leaders.. from supporting unwersity students to generating employment opportunities. LATIN LINK WHEREWEWORK In the year IApril 2023 to 31 March 2024. Latin Link Britain and Ireland had 64 Stay members seNing alongside the loc31 church in ￿genkn.na. Bolma, BraziL Chile, Colombia. Costa Ricd Ecuador, Guatemala, Mexico and PenJ lin Latin Amer￿} arK in Britain, Ireland and Spain (In Europe). This does not i￿lUde UK offitr and ￿gIOnal staff. who are also Latin Ljnk memter5. The majorarea of actiwty is the ptacement of people on an ongoing basis in Latin AmeKa and Europe, to wc*k alongside Iccal partner churd)es and Christian organisations. WHERE LATIN LINKWORKS Argentina Bolivia Brazil Britain & I reland Chile Colombia Costa Rica Ecuador Guatemala Mexico Peru Spain ACHIEVEMENTS AND PERFORMANCE INTRoDU￿10N Our members use their skills to seNe in integral mission, caring for both the spiritual and physical needs of Ind￿]dUalS. They do this in a variety of ways. often focusing particularly on communities affected by F￿Vety and injustice. In the following sections we witt Fxovide examples of the work beiry achieved through each of these three pr(¥Jrdm￿s. We Fv)pe that the* give a ftavour of the breadth arKI impact of Latin Link's ministry. Latin Link is a mission organisation, facilitsting irKlividuals, famities and teams to share the love of God, with and Latin Amencan ccmmunib'es. We enable CFYistians to Iwe out their God- given catling to introduce others to Jesus, so they can come to know his life-transfomiing love and ty)wer. Latin Link COMMUNITY WITH A CAILING ANNUAL REPORT 2023-2024 STAY PROGRAMME Latin Link's Stay programme Is designed for committed Christians WPK) feel a call to longer-tenn mission. Stsy members have previously completed Latin Link's Stride programme. America are having but also the SI￿1hCant imFXt tin American members who have come to seNe in the UK are having in tr￿ churches they seNe in. During the year we have seen an increase in those o feel called to serve in Spain and expect the Latin Link team there to grow. In the stories below we have provided a f &vour of the type of work Stay memters are involved in. 43 16 Members in Members in Britsin Members in Latin America and Ireland ￿. 16) Spain srAY PROGRAMME 2023-24 Stsy members commit to using their skills and experience for longer-tem seNice, investing time in building reL4tionships to see a real impact on the indwiduaLs and communities wth whom they serve. They partner with the local latin American church in a thole variety of different ministries. Overall this has tEen a wsrtive year for ttie Stsy programme though the nurnber of Indi￿ldualS applying to be Stsy missionalles is still lowerthan it used to be. It is also fair to say that the length of time long-tern missionaries serve for has declined over the last few decades. Stay members have continued serving in a range of activities. Their work ranges from training church leaders to supportiro vulnerable children. from prison ministy to schools. work and from creation care to church planting. St is encouraging to see not only the impact that Stsy members sent from the UK to thtin LATIN LINK ABBY'S STORY Abby'Mun)hy is based in Santo Domiroo, Ecuador. She is involved in ￿ local projects rking With children - enAbundancia (Life in Abundance) a project for children arKI young people with leamirKJ dis3bilitie& and Orphaids children's home. Within the Orpha￿S projert Abby has been leading *rt( to get alongside the older children as they prepare for tsfe ou￿de of ￿'Virg in the Church, and hosted a cc*mmunity event inviting 150-200 Iccal The church was impacted ty the team's idea, and manyconnections were made whKh have continued to bear fruit. Abby wa5 amazej at how the Step team s obedience acted as a catslyst to e￿CHJrage the church. Marywere blessed bythe commitment the team arKI communty had. The first kdy from the community got baptised in the village tiver as got to know more about Jesus through the monthly e￿nts, which the church now run in the area. Abby also *r￿S as part ofthe student and evangets.sm ministry at the Yirst Baptist Church, and has stsrted gatheriThJ the local unmersity students to create a Spa￿Wh￿e theycan support one another as ttrEywort( out what it I￿)kS like to fcAlow Jesu5 at unprfersity. As the Short-Tenn CcK)rdinator for Latin Unk Ecuador. in 2023-24 Abby supported four riders who arrwl to join the growing tea as well as welcoming a Step team. Abty has ￿￿tnessed the knger-term impatt a short-term misslon team can haw2. For evample, a Spring Step team did construction V¥f)rk on lthid owned by the C￿traI City Scan the QR code to watch a full irideo update from Abby. ANNUAL REPORT 2023-2024 PHIL & CAROLINA'S STORY Since 2022, Phil and Carolina Rout have been serving in Anapolis, Centrdl Brdzil at a residential theological seminary Iseminario Teolog￿0 Cristao EvangélKoJ, hawro previously Served in Sao Paulo. Most of the 50 students at the college are preparing for pastoral ministry. to be missionaries, CK to work in Christian education Phil has b￿n in Brazil wf(h Lats'n Link for 16 years and describes the support provided as a safety net acknowledging that being a missionary is much more complex than you might think In addition to looking after their home and family ￿fe, Carolina is involved in children's ministy, includiTh3 training Sunday School hers. This year Carolirka has been coordinab'ng a team of volunteers who are transtats'ng Mustsrd s￿d5 Sunday SCI￿1 Mat￿laIS which help children leam to read and apply the Bible themselves. They plan to share this material wth other churches so that it blesses mcfe children across BraiL "Phil (Arolim hAve helpea Me see how it 15 pssible +0 aevel a leAaership tYM5parebKy tWAYds uKaeY avthoyity." Na+Alify S+Ldtsrf As a famity Lpie on the campus and Fl)il is a part of the teaching stsff and oversees the wortd missions group. Phil has encouraged students to get more excited about the gospel and live it out in their context. Phil and Carolina continue to sow the seeds of the gospel faithfully and thoughfftjlly. They want to witness some of the longer-term fruit of the wort( such as seeing young people going into ministry and Iwe their whole b'ves in a way that reflects Christ. One student said that Phil helped him see that you can be faithftjl to the Bible while still making it interests'ng. Phil and Carollna b)th have roles in the Latin Link Brazil team - Carolina is the admintstrat and an executive team rneM￿r, whilst Phil coordinates the placements for incoming Striders. "I leArneA Irom Phil tk4+ reAckiv49 is blot si A >Me+hcd thAt'5 it. PreAcki is ad10￿ o Spirit a 14e fj M5PYiY. Pearo, shIJ￿ li 10 LATIN LINK PAUL & RUTH'S STORY Paul and Ruth TurrEr are based n LFma, Penj. Paul is Invol￿ in developirYJ Christian leaders across the country through the know leadethip pwramme. He also wotlis closely wth the leaderships of the International School in Arequipa and ttie TunThnye (Rainbow) association in Huardz. Ruth serves on the Latin Link Intemational Core Team where she cwrdinates the area of member care. She also works alongside churches aThJ mission agencies in Peru to develop member care resources and training for mission workers sent from Peru. chuthesptsya wtal role in identi￿ng. Lyuiwng, serKling andsuppxtsng Latin bnk rnernbe￿ As theyan7ve in th￿r countyofseM.￿ rnernbe￿are welcomedtylocal churches whoprowde training, caB and opportunities to seNe. The l(xal church s &ke a golden thread that runs through all our workasa communty. valuingeach ottErs contn'buts'on encouraging one another gmng Ihanks fartlE un￿ue people God has nBde us to be. and the unty we ￿ve in Christand his missi(Th." Latin tsnk memters are atso involved in strengtrEning the Ct￿rch across Latin Ame17ca in a varEtyofways from training P3Stors andlead￿5 to developing teaching resoUr￿S forchildren and adults,. from dis3 ministrEs to he￿Ing the church te more welcoming to migrants and othermarginalisedgroups. One of Latin Link's core values Is unityin d￿e￿Ity. Myexperience timeandagain is tIBt we are Ensuring strong conrEctions bth￿n local Churc￿ and our Stay members is of vital importance, as Paul oU￿nes. Latin knnksinply wouldnot exist the church. Lccal JOEL & MAYRA'S STORY that we have recaved from and through Latin tsnk spiritually, emotionally, financially, and practially, has g￿en us the rtjel to endure andp￿severe In our ministy in Puebla for t17e last nir year5 now. and to do so with S¢yne measure ofsuccess. Latin Link notOn￿makeS a huge difference to our lives butatso to the ofthe pwe we are seekiThJ to serve. People like Dy&n andAlexis young leade athave been supported byour ministyand are now hetyng dnve forward churchplant We have atso LEen incrayib San Pablo in Puth. Also, we blessed to have a number of have paved the way for Rau( a short-tenn missnrarEs on well.known localpastor ￿ is now In charge ofthe new I￿al placement with us. wa Latin Unks clxjth newkacross central Step arKIStride pro3fdmmes and south MexiD wth a strong who have helFed us strengthen cxjr ministyin Iccal schools focus on equipping lgrammes,' or providing support for rehabititation centre& E¢vAaor PDIivi• Step projects are arranged where Latin Link Stsy memtErs are alreadywothirvj, or with projects that trw have contact with and knowledge of. They are run in partnership wtth Iixal churthes and other non-government organisations, with similar mission obiectwes. By alway5 hal￿ng tFE bigger picture in mind, we ensure that Step feeds into longer-term. sustainable mission, and that it addres￿ t()th physical and spiriLJal ne&ls. Ar1eMti but one was a team from just one church. A priority for Step conts'nues to be to give a broader understanding of cross-cultural mission. in the hq)e some may IR inspxrerl to reSFX)nd to a longer-term calling to Latin AmerKa. Btheen N)ri12023 and March 2024, we sent 27 Steppers to seNe in Latin America. Teams were sent to ArgentinalBolivia, Mexico/Costa Rica, Colombia, Ecuador and Penj. Most teams were made up of indmduals from several churches, 14 LATIN LINK STEP REPORTS 2023-24 PERU On the day they tanded in Arequipa, the Step team were welcomed by some of the LAtin Link team who are based there. where they were given a detailed induction into Peruvian culture. The whole team were blessed by how Cth aLso revealed himse￿ to them through the local churches. communty and projects. 0￿e settled. they setved alongside the local staff and Voluntee￿ at the Intemational khool arKJ the Shalom Centre, which SUPFQrts children wth additional needs and their faMi￿eS. ECUADOR In 2023-24 we facilitated a Connecting Step team in Ecuad￿ for the fi'rst time. which meant that some of the team were sent from Britsin and Ireland, and some from Latin America. We were so excited to see this cross-culturdl team working together to serve God in Ecuador. The team supported wth the delivery of a three-day camp, and were so blessed to witness how God wcKked in everyone, even in the small details, wh￿h gave them so much encouragemert The team seNed for three weeks in Santo Domingo de los Tsachilas, Ecuador. Whilst the￿ the team worked alongside a local church to advance their constNction on a new plot of ￿nd, and also supported with evangelistic actwit1￿ to connect th Iixal community. The team said d their exFerience'. We have seen cxJrHeavenly Fathers love in so many unexrted ways - from the de1￿￿t ofa daughter on reCOgn￿rg hermotheras she approached. to the pleasure ofa threeyear old enjoying a &mple game of give rne fve'when cOnVe￿tion M tpo￿ble." The camp was such a joyous time for fami￿ and friends. From the fun and Laughter over team games to dancing around the konfire and Bible-related actiV￿.es. Through the dedication of the Step team and Lccal staff working together. God demonstrated his gracious love in every encounter. Everyone was so hospitable to us. we were very well recen/edand welcomed. Ths is pa￿cUlartY tr(Je for the churchplant in San Pedro. where we enjoyed a n￿al togetherafter the semce. It was clear to us that God was w0￿1ng in the communty as the church is steadI￿growng in attendance. Godspresence was even there in ourgame of football which had more yers every minuÈ notjust from the church but from the local comrnunity. COLOMBIA The Stsp team had an exciting and faith-lilled experience during their time in Colombia, whilst adjusting to the heat and new culture. The team had the opportunity to visit vaiious primary schocAs on the outskirts of Barranquilla. to support the children wth their English, incLuding teaching the names of animals and singing songs tC>9ether. They Msited l(xal project FUndac￿￿ sus Propositos (pu￿Ose Foundation) which seeks to bring Colombian and Venezuelan culture together, and in particuLar provides arts activilies to help children from difficult backgrounds exFye5S themsebles. The team SUPFJ)rted a session which included music and dance. a craft station for painting. and a Bible dw0tiC￿aL The Step team also had the opportunity to sFRak at IcKal churches and youth groups. They were able to share about their personal relationships with God and encourage the Ic£al Christians. As wetl as worknng on the church constnKtionsite during ffte day, we have enjoyedspending more time the church community. Theytre all teen so generous in cooking lots of fcod for us and the feetsng of fellowst)ip among everyone hasntljeen hinderedby the knguage terrier. Weve all been touched by the musical forms of worship here- etherits one leadsinger a guitar ora whole band- its b￿n an amazing way of connectirg with ournewchurch familyandpraising God togettEr.° ANNUAL REPORT 2023-2024 15 SERVING IN BRITAIN AND IRELAND Alongside sending members to programmes across the churc Latin America. Latin Link facilrtates connecting with several creative Latin Americans to serve across groups armd leading worship in Britain and Ireland. We firmly Spanish. Many have said F believe in the effectiveness and much they have felt blessed by importance of multi-directional him and felt the Holy Spirit as he mission, where God calLs and helped wth worship. sends people from au nations to use their gifts in a cross-cultural Through all these p.tting experiences and the harder moments, JFI)nny has Bet￿een 4)ri12023 and March tnessed Gcé at work 2024, we had 16 rnem￿rs seNing through the SUFPOrt of throughout Britain and IrelarKI in the Iccal community in a variety of pLacements. This year, Winchester. People have we have been greatly encouraged prayed for him regularty and by how God has used our he has enjoyed fell¢Thhip Membe￿ in their l(xal ministiie& with the local church family. There are so mary stories we could share of how God has b*n at worl and one such example is through the ministy of Jhonny Corado. and this shines through in all his encounte￿ siMp￿b￿ng from LatinAmerKa often opens doo and cOnversat￿nS that others cant have because they wonder he has conE... and then they leam abcxrt GCLYS calting and they listen." "for Mei LA+iK Lihk is like the peAal looms that we kAve back home i (￿temAla. Through My Styide placeMeKt +hYeads from 4uAteMAla a the UK aye 1fft+erwove￿l With the Holy Spirit sPi￿￿1Y each parti Makihfj a ￿￿11￿e Ad precious tapestry desiqnea by 40a." Ed Dines. the vicar at St Bamabas Church, who was himself part of a Summer Step team seNing in Guatemala in JhoMHy (or•4ao, S+YiaeY. Ir As with previous years, a key Jhonny has b￿n need thatthe Latin Link team has absolutelyamazing. identified is the development of He ha5 broughta church partnerships, to inspire beautiful and gende more churches across Britain and yetFowerful fftss Ire￿nd to consider receiviro and to both ttje church hosting mission worl(ers, and to and the communty. commit to supporting them. There When people discover is no shcKtsge of Latin Americans that we have a th a call and desire to serve Guatemalan serwng here. but there is a Limf(ed number th us, just because of placements available. Our he is following God, hope and prayer is to ￿ more are amazedl He opportunities arising in the year has openedpeoples ahead. eyes to another wayoflmng. demonstrating both sacriflce and Jhonry is a Strider from Guatemala who has seNed as a youth arKJ communty worker at St Bamabas Church in Winchester. Scan the QR code to read more from Jhonny in our Latinfile magaine People of all age5 love him arKI are alway5 M'lling to listen...notjust about his tife butabout God. He cames the love ofGod wth him Jhonry has helped develop a variety ofyouth and children's 16 LATIN LINK BILI Latin Link isa communtywith a cauing to love G¢xl and our nelghb(wr. We loveto equip people to step into God's story encouraging cC￿gregations to step into God's big story of mission. The* ￿lSIts Rised awareness of Latin American mission work and supported mission candKJates disceming God's cal￿￿j. By inspiring and equipping indmduals to step into GCKJ'S story through our mobilisation work we have been able to,. Strengthw churth patnethi Our engagements have fosterej stronger relationships with churches, leading to rrK)re collaborative mission effort& Our nthork Ofvolunt￿￿ across Britain and Iretand, known as Story-sharets and Mobilisers, help us dojust thisl Trey meet together ontr a temi for online trdining and equipping sessions, to be inS￿red by the testimonies of other mission W0￿erS, lea new skJ'tLs and hear about new resources that help them spread the word about Latin Link in their context Ekn's sttyy In Scottand, our Mobikn'sation efforts have had a profound impact exempbfied by stories ￿ke Iden s. Eden, compassionate young girt from Dunbar, encountered the gospeljust three years ago. In her final year of high schooL she felt called to seNe in Colombia, assisting Venezuelan migrants. Dunng a church visit she met one of our Mobilisers and appbed to Lats'n ￿nk. Through training and hands- on experiences, we have empowered volunteers to make meaningfvl contributK)ns to the communities they Se￿e. Creats lasting charvje: The projects and initiatives undertaken by our teams have led to significant improvements in the lives of people in Latin America, thering our mission to create Mbrant thrtving Christian communities. Here are some key h￿￿hlIghtS from our Mobilisation team in 2023-24: Inspire events: We hosted Inspire events in Glasgow. London, Readiry, Ballyclare, Bangor, and Castlerock. The* gatherings promoted multi-directional mission belween Latin America and Europe, showcasing opportunities for ministy and sharing moviro testimonies from our members including Latin Americans serving in the UK through Latin Link. Latin Nightg Held in Edinburgh. Plymouth, and Belfa& our Latin Nights celebrated cross-cultural ministry in Latin AM￿lca. These events featured multilingual worship in Spanish, English, and Portuguese, raising the profi'le of our work and uniting communities in w0￿h1p arKJ praise. Our Mobilisers guided Eden through her ne￿OUnd calknng, helping her prepare for her mission. Eden and FEr Step team served brillianty for three weeks. offering aid and hope to a Venezuetan mKJrant community. This expaierce was transformatwe for both Eden and those she served. It is a real pNilege for c)Jr Mobibsers to guide young people like Eden in fuLfil￿rng Cth's call. Eden is now back at unNersity, studying taw while remainiro actively involved in her local church and Chri*an Union. Her story continues to inspire otrErs to engage in missiC￿ work and ve out their faitti in practEal way& EXPLOR Ixp Aft As we reflect on the past year, we are grBteful for t￿￿ dedication and passion of our volunteers, members. supporters, and church partner& Together, we continue to answer GCKJ'S call mobilising his people for local and global mission. c￿rCh vits. We Msited dozens of churches throughout the UK, ANNUAL REPORT 2023-2024 17 FINANCIAL REVIEW 2023-2024 INTRODUCTION FUNDRAISING The financial year that ended 31 March 2024 was encouraging. despite the ongoing cost-of-living crisis. We thank God for the constsnt prayer and financial support we receive in these difficult times. Latin Link is registered with the Fundraising Regulator and all our fundraising activities comply with the Code of Fundraising Practice. Fundraising staff monitor and report regularly to the trustees. Fundraising Guidelines are always provided to all volunteers who are involved in raising funds. The trustees wish to express their gratitude to all the individuals, churches, and other organisations who have donated funds to Latin Link and our members. We acknowledge that, in the current financial situation within the UK and overseas, some supporters may be in financial difficulties and for this reason we never pressure anyone to make a gift. Our Fundraising Complaints Our General Funds level increased by E78k Policy is easily accessible on our website. ending the year with £178k12023.' decreased Latin Link continues to receive support from by E31k ending the year with £IOOk). some commercial participators, and we Designated Funds have increased by £5k have an agreement in place with each of 12023: increased by £12kl whilst Restricted these, which fully complies with the Code Funds have increased by £74k12023: of Fundraising Practice requirements. We do increased by £93kl. Within the Restricted not use professional fundraisers. There have Funds, the Step Fund has a deficit of £31k been no complaints or criticisms during the (2023.. defi'cit of £45kl which accumulated year about our fundraising activities. during 2020-22 as the Step programme was curtailed due to the pandemic. As this programme has re-emerged, we expect the defi'cit will reduce year on year. Our main priority is to continue to increase the numbers on our Stride programme and begin to increase the numbers on the Stay programme, in order to grow the impact of the charity's work and its long-term sustaina bility. The unrestricted income during the year was £798,75112023: £719.921), with unrestricted expenditure being £715,180 12023: £738,630). Restricted income was £1,128,739 (2023.. £1.024,0861 with restricted expenditure being £1,054,29012023'. £930,710). During the past fi'nancial year there was a net income of £158.020 (2023.. net income of £74,667) which has enabled us to bring our reserves within our reserves policy level. LOOKING FORWARD Our main objectives are.. As set out in the introduction, a key priority is to increase the numbers on our Stride and Stay programmes, as these have a direct connection to our long-term impact. Continuing our strategy of developing our contact with UK Christians and engaging them in what God is doing in Latin America, with the aim of sustaining and expanding multi-directional mission. 18 LATIN LINK Developing our church engagement strategy. capital growth in line with principles relating to sustainable and responsible investment. Our investment in our residential apartments shows excellent occupation level and continues to provide a steady income and to contribute to our mortgage costs. The overall return achieved on other investments and deposits during this period has been very low, but currently a recovery in interest rates gives rise to a degree of optimism that rates will continue to improve. Developing our work and impact in Latin America through our programmes. With all the current financial uncertainties in the world a priority must be to secure and maintain a sustainable balanced budget, together with having a flexible approach to developments in global mission. GOING CONCERN RESERVES POLICY The trustees acknowledge that there are financial risks to the charity, including inflation and a possible slowdown in the UK economy. These could increase costs, reduce donation income and reduce rental income. The trustees have reviewed the circumstances of the charity and consider that it Is a going concern and that they believe that sufficient resources are available to fund the activities for the foreseeable future. Our reserves policy is that the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be at least equal to 25/0 of expected unrestricted expenditure for the next year li.e. three months of operational costs) in order to respond to any unforeseen changes in circumstances and levels of income. This is currently calculated to be at least £174k. Free reserves at 31 March 2024 were £219k12023: £139kl. This is within the reserves policy level and is considered adequate to meet the needs of the charity. PRINC.IPAL FIJNDINC, £niJRC.F. We do depend on the faithful support and generosity of so many individuals. churches. and other organisations, and without this giving. we would not be able to serve God in this way, so we continue to be thankful for the Lord's faithfulness to our work. TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENT The trustees Iwho are also directors of Latin Link for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102,. the Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to.. INVESTMENT POLICY Under the Memorandum and Articles of Association. the charity has the power to deposit or invest funds subject to the same conditions as trustees of a trust are permitted to do so by the Trustee Act 2000, as set out in the standard investment criteria of that Act. The trustees, having regard to the liquidity requirements of the charity and to the reserves policy, have operated a policy of keeping available funds in easily realisable assets, seeking to maximise income and ANNUAL REPORT 2023-2024 19 select suitable accounting policies and then apply them consistently; Auditors A resolution will be proposed at the Annual General meeting that Jacob Cavenagh & Skeet be re-appointed as auditors to the charity for the ensuing year. observe the methods and principles in the Charities SORP IFRS 1021; make judgments and estimates that are reasonable and prudent: By order of the trustees state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial staterr4ents comply with the Companies Act 2006, The Charities Act 2011 and UK GAAP. They are also responslble for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. Jo Jowett Chair of Trustees 12 September 2024 there is no relevant audit information of which the charitable company s auditor is unaware.. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 20 LATIN LINK INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LATIN LINK OPINION Investment (Scotlandl Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. BASIS FOR OPINION i nd ividua Ily or collectively. may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least 12 months from when the We conducted our audit in fi'nancial statements are accordance with International authorised for issue. Standards on Auditing IUK) IISAS IUKI) and applicable law. Our responsibilities and the responsibilities of the Our responsibilities under directors with respect to those standards are further described in the Auditor's going concern are described in the relevant sections of this responsibilities for the audit of the financial statements report. section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO CJOINC, CONCERN We have audited the fi'nancial statements of Latin Link (the 'charity I for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: OTHER INFORMATION The other information comprises the information included in the annual report, including the directors, report, other than the fi'nancial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. give a true and fair view of the state of the charitable company s affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then ended,. In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the fi'nancial statements or our knowledge obtained in the course of the audiL or otherwise appears to be materially misstated. If we identify such material have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, ANNUAL REPORT 2023-2024 21 inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. UF)INIUNS ON OTHER MATTERS PRESCRIBED BY THE COMPANIE% ACT 2006 in respect of the following such internal control as matters in relation to which the trustees determine is the Companies Act 2006 necessary to enable the and the Charities Accounts preparation of financial Iscotland) Regulations 2006 statements that are free requires us to report to you if, from material misstatement. in our opinion: whether due to fraud or error. adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns., or In preparing the financial statements. the directors are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. In our opinion, based on the work undertaken in the course of our audit., certain disclosures of directors, remuneration specified by law are not made; or the information given in the Trustees. Report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements,. and AUDITOR'S we have not received all the RESPONSI BI LITI ES FOR information and explanations THE AUDIT OF THE we require for our audit,. or FINANCIAL STATEMENTS the directors were not We have been appointed as entitled to prepare the auditor under section 44llllcl financial statements in of the Charities and Trustees accordance with the small Investment (Scotland) companies regime and Act 2005 and under the take advantage of the small Companies Act 2006 and companies exemptions in report in accordance with the preparing the directors, report Acts and relevant regulations and from the requirement to made or having effect prepare a strategic report. thereunder. RESPONSIBILITIES OF DIRECTORS the directors, report included within the Trustees Report has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of a55urance, but is not a guarantee that an audit conducted As explained more fully in In the light of the knowledge the directors, responsibilities and understanding of the statement. the trustees (who charity and its environment are also the directors of obtained in the course of the the charitable company for audit, we have not identified the purposes of company material misstatements in lawl are responsible for the the directors. report included preparation of the fi'nancial with the trustees, report. statements and for being We have nothing to report satisfi'ed that they give a true and fair view, and for 22 LATIN LINK in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. accounting estimates, possible omission of legacy debtors, revenue recognition, insufficient evidence of how charitable funds are ultimately spent, presentation of separately disclosed items and management override of controls. description forms part of our auditor's report. USE OF OUR REPORT This report is made solely to the charitsble company s members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable companls members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this repor( or for the opinions we have formed. In response to the risks identified we designed procedures which included, but were not limited to.. challenging significant accounting estimates. reviewing all legacy correspondence, performing substantive testing on a sample of income and expenditure transactions. agreeing fi'nancial statement disclosures to underlying supporting documentation, identifying and testing journal entries, reviewing Trustees, meeting minutes and evaluating the charity's internal controls. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to company. employment and financial reporting legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the linancial statements such as the Companies Act 2006 and the Charities Act 2011. There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of We assessed the susceptibility non-compliance. Material of the company s financial misstatements that arise due statements to material to fraud can be harder to misstatement, including detect than those that arise obtaining an understanding from error as they may of how fraud might occur, involve deliberate by making enquiries of concealment or collusion. management. considering A further description of our the internal controls in place responsibilities for the audit and discussion amongst of the financial statements the engagement team. is located on the Financial We determined that the Reporting Council's website principal risks were related at.. http:Ilwww.frc.org.ukl to management bias in auditorsresponsibilities. This Mlrlam Hlckson FCA (Senior Statutory Auditor) for and on behalf of Jacob Cavenagh & Skeet Statutory Auditor Chartered Accountants 5 Robin Hood Lane Sutton. Surrey SMI 2SW Dated.. Ill oq.120?V ANNUAL REPORT 2023-2024 23 STATEMENT OF FINANCIAL ACTIVITIES FOR THI YEAR ENDED 31 MARCH 2024 Totsl 2024 Total 2023 Fund• Fun F￿dI Intom• •nd •ndtsW￿ fn)m: DonatlonsandlegJcles.' Donatlon5 & Legacies 382,822 5.524 7.599 395.945 423.699 Othertradlng activities 130.188 130.188 110.291 Charltableactlvltie& Slay programme Strlde pro9ramme Step programme 280.217 959,659 108.115 53,366 1.12L140 L239,876 108.115 53.366 1,401,357 L06L835 74,473 73.711 L210.017 280.217 T•t•l Inom• •nd •ndowr 793.227 5.524 1,128.739 L927.490 L744,IK)7 Lyndtur• on: Ralslng Funds 107.503 107.503 114.828 Chrft•N• •¢tMII 607.677 L054,290 1661.967 1,5S4.512 Total •xp•ndllur• 715.180 L054,290 L769.470 1669.340 Realised gains11105se$l Incom• forth•>wr 78.047 5.524 74.449 158.020 74.667 Transfers between funds N•t mov•m•nt In fiin 78.047 5.524 74,449 158,020 74,667 R•conclllthn of fund• Total fund5 broughi lorward 100.408 1.558.936 576.153 2.235.497 2.160,830 FUND BALANCES CARRIED FORWARD 178,455 L564,460 650.602 2.393.517 2.235.497 Thè statÈmÈnt of financial actlvitles includes all gains and losses in the year. All income and expenditure derive from continuing activities. 24 LATIN LINK BALANCE SHEET AT 31 MARCH 2024 COMPANY REGISTRATION NUMBERI 2811525 2025 Tanglblè Assets Inveslmenl Property Investments 344.595 L900,000 $0.018 2.294.613 355.576 L900.000 50,018 2,305,594 io CmrtA•Mts Stock Debtors Cash at bank and In hand 180 282.391 686,971 969,542 400 178.423 623,565 801388 Currnnt U•blllll•• Cr•diiors falling due wlihln one year o.oio 150.010 137.457 137,457 819.532 664.931 T•tsl l•M Cwr•nt Uibllttl 3,114,145 2.970.525 Crediiors falling due after more than one year 720,628 735,028 N•t AM•ts 16 2.393,517 2,235.497 Th• of th• ch•rfty Restrlcted Income funds Unrestricted income funds: 650.602 576.153 Deslgnated General L564.460 178.455 1,558.936 100.408 linduding revaluation reserve of £689.3131 L742.915 1.659.344 TO￿ db•rfty fvnd• 2.393,517 1235,497 The notes on the lollowlng pages form part of these a¢counts. Approved by the Board On 12 September 2024 and 51gned on its behalf by.. JoJow•tt Dlr•¢ior •nd Ch￿r of the ThNt• ANNUAL REPORT 2023-2024 25 STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024 2025 Clth umd In op•r•tkng •thlJ Surplus from ordinary activltles Adjustments for: Depreciation charges Mortgage interest paid Divldends, interest and rents from investments Decrease I lincreasel in stock Ilncreasel in debtors Increase in creditors (excluding mortgage) 158.020 74.667 IL726 45,856 1130.0281 220 1103,9681 11,273 10.527 34,287 1109.991) 13801 1110.7901 2,548 N•t e•th umd In op•rntkng KiMtI 16,90 199,1321 Dividends, interest and rents from investments Purchase of flxed assets 130,028 17451 109,991 113.2711 N•t oih pr¢yAd•d by Inv•thg ￿1¥1111* 129.283 96.720 Repayment of borrowlng Interest pald 113.1201 145.8561 116,5491 154.287) N•t cuh umd In fln•nclng aLt1￿¥ 158,9761 150.8361 In¢r•u• I Id•rnM) In clth and cuh •quhhnts In th• y• 63,406 153,2481 Cash and cash equlvalents at the beglnnlng of the year 623.565 676,813 Cmh Ind •qulthts It th• •nd ofth•yw 686.971 623.565 O) Analydi of Ch•ny¥ In N•t C•thl(D•bt) AtIApr 2025 Caih Oth•r At 31 Mar 20Z4 chang Cash at bank and In hand Bank loans falling due wlthln one year Bank loans falllng due In more than one year Total N•t CuhllD•bt) 623,565 116,6541 (735.0281 1128.117) 63,406 11.2801 14,400 76.526 686,971 117.9341 1720.6281 151,591) 26 LATIN LINK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 I ACCOUNTING POLICIES the net incoming resources and cash flow forecasts for a period of twelve months from the date the accounts were approved. They believe that sufficient resources exist for the charity to continue its activities and meet all liabilities as they fall due for that period and therefore deem it appropriate to prepare the financial statements on a going concern basis. Idl Fund accounting Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives of the charity and which have not been designated for other purposes. Voluntary income is received by way of donations, gifts and legacies and is included in full in the Statement of Financial Activities when receivable,. The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. Legacies are included where the legacy has been received or where it has been received after the year-end, the date the legacy becomes receivable is within the financial year and the amount is known with sufficient certainty,. Donated services and facilities a re i ncluded at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.. (al Elasis ot preparation The financial statements have been prepared under the historical cost convention, as modified for the revaluation of investments to fair value, with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the Companies Act 2006, Charities Statement of Recommended Practice Icharities SORP IFRS 10211 and Financial Reporting Standard 102 IFRS 102). Investment income and appeal income is included when receivable,. and income f rom charita ble activities in respect of team members, projects and short-term programmes is included when receivable. Designated funds are unrestricted funds set aside by the directors for specific purposes. Restricted funds are to be Used in accordance with specific restrictions imposed by the donors or through the terms of an appeal. lel Income recognition Latin Link meets the definition of a public benefit entity under FRS 102. If) Expenditure recognition Expenditure is recognised on an accrua Is basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.. Raising funds comprises cost5 associated with attracting voluntary income and the costs of attracting Ibl Company status The charity is a company incorporated in the United All incoming resources are included in the statement Kingdom and limited by of fi'nancial activities when guarantee. The address of its the charity is entitled to the registered office can be found income and the amount can on the back cover. be quantifi'ed with reasonable accuracy. The following specific policies are applied to particular categories of income: Icl Goirig concern basis of ?,rroi.Intino The trustees have considered ANNUAL REPORT 2023-2024 27 income for fundraising purposes,. basis to write off the cost, less estimated residual value, over their expected useful lives. provisions are recognised at their settlement amount. Charitable expenditure comprises those costs incurred by the charity in the Office equipment is delivery of its activities and depreciated at 20/0 per services for its beneficiaries. It annum of cost. new includes both costs that can computer equipment at be allocated di rectly to such 33/ per annum of cost and activities and those costs of freehold buildings at 2/ per an indirect nature necessary annum of cost. to support them,. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the lil I nvestme nts audit fees and costs linked to Investments held as fixed the strategic management of assets are valued at fair value the charity,. and at the balance sheet date All costs are allocated and the gain or loss taken to between the expenditure the Statement of Financial Activities. categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. £rYil Pinaricial iiislruiiients The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Freehold land is not depreciated. Individual items under £1,000 are written off In) Pension costs in the year of acquisition. Pension contributions are paid to defined contributions schemes operated by the EMA Pension Scheme. The assets of the pension schemes are held in funds that are administered independently of the company. (il Debtors Debtors are included at the settlement amount due and Costs relating to a particular prepayments are valued at activity are allocated directly,. the amount prepaid. costs not directly attributable to specific activities have Ikl C.Rf h ?t h(11,,l< (Iiid in hand been apportioned on the basis of the relative size of their direct costs. Contributions to the EMA Pension Scheme and other non-funded pensions are charged to the Statement of Financial Activities in the period to which they relate. lol Foreion currencies Cash at bank and in hand consists of all amounts held Transactions in foreign in banks and short term currencies are recorded at deposits with maturity value the rate ruling at the date of 30 days or less. of the transaction. Balances 111 Lreditors and provisions denominated in foreign currencies are retranslated at the rate of exchange ruling at Creditors and provisions are recognised where the charity the balance sheet date and all differences are taken to has a present obligation arising from a past event that the Statement of Financial will probably result in the Activitie5. transfer of funds to a third party and the amount due Tangible fixed a55ets. apart to settle the obligation can from freehold land. are be measured or estimated depreciated on a straight line reliably. Creditors and Igi L)perating leases Rentals applicable to operating leases in respect of office premises and office equipment are charged to the Statement of Financial Activities over the period in which the cost is incurred. Ihi Idrigible tixed assets 28 LATIN LINK 2 DONAnONS AND LECACIES Unr•rtrfct•d D•*in•t•d Donations Legacles 252.814 130.008 5.524 258.338 137.607 264.744 158.955 7.599 382.822 5.524 7,599 395,945 423,699 s arHER TIIADING AcrivmES 2024 Property Rental Investment Income Exchange rale galnslllossesl Income Irom sundry sales 110.658 19,370 103,145 6,846 160 300 130.188 110.291 4 INCOME FROM CHARITABLE AcnvmE5 Team & retlred members. olllce staff Minlstrles & Projects Admlnlstratlon and Ev•nt5 Step and Strlde programmes 173.087 789.808 169,851 962,895 169,851 107,130 161,481 813,615 153,566 94,652 148,184 107,130 161.481 280.217 1,121,140 1,401,357 1,210,017 ANNUAL REPORT 2023-2024 29 S EXPEMDrruRE Vduntwy Strld• • St•p Go¥•rn•vK• Fundrnwrq 2024 T•t•l Corts dlr•cty T*1 Team Mernber c05t5 Lalln Partners costs Mlnistries & Projects Events Fundralsing 6Tr Publlclty Stsff costs Strider & Stepper costs Professlonal fees Trustee meetin9$ Mortgage interest and flats expenses Other costs 93L067 931.067 883.164 127.203 127.203 1,477 16.064 22.531 156.564 12,940 2.244 60,194 93.094 4.292 30.470 30,536 94,679 12.957 1.882 45,968 591 6.426 886 9,638 22.531 136,564 12,940 2.244 60.194 619 2.035 2,652 2.953 Support colts General ofllce. Ilnance and coordlnator stafl Preml$es Olflce costs D•pre¢l4tlon Travel & hospitality Other operational costs 19,183 244 1,897 600 509 936 45.410 579 4,491 1.421 L205 2,215 302.054 5.850 29.874 9.452 8,019 14.735 4,510 $7 446 L41 120 220 3.584 46 354 112 95 175 374.741 4.776 37.062 11.726 9.948 18.281 588,307 5.842 36.596 10.527 10.908 17.16S Total •xp•ndknr• 90,580 214.416 1.426.254 21,297 16.923 1.769.470 1,669,340 6 NEf INCOMUffXPENDrruRE) FOR THE YEAR Thls Is stated after chargingllcreditingl the followin9- 2023 Depreclatlon Operating lease rentals- office equlpment Audito￿. remuneratlon for audlt serylce5 Auditors. remuneratlon for other serylces 11,726 960 8.300 10,527 960 7.680 7 TAXATION The charltable actlvitles of the company are exempt from Corporation Tax. 30 LATIN LINK 8 sfAFF INFORMATION Stsff costs were as follows: 2024 2025 Salaries Social securlty costs Pension ¢o$ts 629.007 23.090 30.829 682,926 518,826 24,055 30,288 573,169 No employee recelved emoluments of more than £60.000 durlng the current or prevlous year. Th• trustees conslder members of Ihè Leadérshlp Team. as dls¢los•d tlsewh•r¥ In thes• account$. to ￿ the key management personnel. The totsl employer's cost for these staff whlch Includes gross saiarles, penslons and •mploy•rfs NIC Is durlng the year C93,175 12023: £93,8241. Reiatlves of the key management peronn•l were pald £39,153 durlng the year12023- £38.3431. The average number of employees durlng the year, cakuiated on the basls of full tlme equfvalents, was as follows.. 2024 2023 Charltable acilvltles Offlce and admlnlstratlon 18 14 io 24 27 The average number of employee$ durlng the year. calculated on the basls of headcount, was as follows.. 2023 Charltable actlvltles Office and admlnlstratlon 21 18 15 33 36 The charlty contSnues to make an ex-gr4tla payment to top-up members. penslons. In Ileu of Inadequale penslon provlslon lor EUSA member5 who sLirted seThing before 1980. This year 14 members recelved these paymenls12023.. 141. ANNUAL REPORT 2023-2024 31 g TANGIBLE FIXED ASS F*op•rty Equlpm•nt T•tsl At l April 2023 Dlsposals Addltion5 426.645 18.451 445.096 745 745 At 31 March 2024 426.645 19.196 445.841 D•pr•cl•tlon Al l April 2025 Di5P05a15 Charge for the year Released on disposals 83.674 5.846 89.520 7.366 4,360 11,726 At 31 March 2024 9L040 10.206 IOL246 N•t B4x* V•lu• At 31 March 2024 335.605 8.990 344.595 At 51 March 2025 342,971 12.605 355,576 These assets are all Lssed to support all of the charSty's actlvltle$. 10 INVEsfMENT PRQPEKrY 2024 2023 Brought lorward Dlsposals Addltlons RevJluatlon 1,900,000 L900,000 1,900,000 1,900,000 The property 55 measured at lair value as advised by Lawson Mann Property Consultant& who are independent chartered survtyors. The valuation took place in August 2016, and has been updated by the trustees slnce. 32 LATIN LINK JI INVESTMEpirs UK Alt•rn•tlve Total At l Awll 2023 At 31 March 2024 50.000 50.000 18 50,018 50.018 M•rk•tValu• At l April 2023 so.000 18 50,018 At 31 March 2024 50.000 18 50,018 2024 Incorne tax recoverable Other debtors Prepa￿nentS Income recelvable 13.634 7.110 16.991 244.656 12,090 12,273 12,260 141,800 282.391 178.423 IJ CREDITOR&. AM￿l￿r5 FALLING DUE WITHIN ONE YEAR 2024 T￿atIOn and soclal securfty Mortgage Olher credltors Deferred Income Accruals 21.512 17,934 103.052 L625 5.887 21,199 16,654 85,181 2.376 12,047 o,oio 137.457 ANNUAL REPORT 2023-2024 33 14 CRENfoRS: AMouKfs FALLING DUE AFfER MORE THAN ONE YEAR 2023 Mortga9è Loan 720,628 735.028 720,628 735.028 Due within 1-2 years Due within 2 -5 years Due in more than 5 years 13.976 48,493 658,159 720.628 15.182 50.760 669.086 735,028 Included withln Credltors In notes 13 and 14 above Is a mortgage orlglnally 01 £825,000 whlch was used to redevelop the premls•s. Th• mortgage Is secured on freehold property which represented 16% of the value of Ihe property when it wa5 fully redeveloped. The loan Is fvlly repayable in 30 yearn Interest paid during the year ran9ed between 5.55% and 6.20%. IS MOVEMEIITS IN FUNDS AIIAWI 2025 kn• & At X March 2024 1ft￿Th• Exp￿d￿r• Tr•nrf•r• Individual projects and personnel funds Step Strlde Dlsadvantaged chlldren Peru Cochabamb 550.5TI 145.127> 34,327 119,807 75,000 4L569 967.258 53,366 108,115 1895.1951 149.1471 1109.9481 422.640 130,7081 37.113 115,188 75,000 31.369 10,200 4,619 14.6191 110,2001 Tlrtal r•*kl•d fvnd• 576,153 1,128.739 ILOS4,2901 6SO.602 Designated pension funds Desi9nated education fund Designated capital lund Designated members, excess support lund Deslgnated launch fund Designated misslon fund Designated SFM IX fund General Funds 60 2.751 L360,024 60 2,751 L360.024 8,762 124,606 18,606 44.127 100,408 8,762 124.606 18.606 49.651 178,455 5.524 793.227 (n5,1801 T(￿1 wr*trkt•d L659.344 798,751 [715,1801 1.742.915 Total fun 2.255.497 L927.490 11.769.470) 2.393.517 34 LATIN LINK 15 MOVEMEFifs IN RINDS Icopinp4)E Atiwa GDIM & At 31 Ilarch Indlvldual project5 and personnel fund$ Step Strlde Disadvantsged chlldren Peru 354.278 159.6051 25.836 120.699 800.902 73,ni 74.473 1804,6031 159.2331 165,9821 18921 350.5TI 145.127) 54.327 ll9,807 75,000 4L569 75.000 Cochabamba 4L569 482.777 1.024.086 1930,7101 576.153 Deslgnated pen$6on fun¢J5 Deségnated eduutlon fund Designated copltsl fund Desl9nJted members. excess Support lund Desl9nated launch fund De5h2nated mlsslon fund Designated SFM 1% G•n•ral Funds 60 2.751 L360.024 1751 L360.024 8.762 U8.025 18,606 59.195 130,630 8,762 124.606 18.606 44.127 100,408 6.581 4,932 708,408 f738,6301 Totsi fvndl 1,678.053 719.921 1738.6301 L659.3H T•taifunth 2,160.830 1,744.007 IL669,3401 2,235.497 ANNUAL REPORT 2023-2024 35 15 MOVE￿ IN FUNDS (copmNUE Individual ptrDjects and personnel fund5.' Funds raised to provide financial support for projects and mlssion partne1$ In Latln Amerlca and in Brltaln & Ireland. Step fund.. Funds used lor the short-term Step programme. Strlde fund.. For the short-term Strlde pro9r•mme. D15adv•ntagedchlldren.' Fund5 used to help dlsadv&nta9ed chIld￿n In Soulh Amerlca In Jccordance with the Will of a leg*or. Peru.- Funds used for work in P•ru in accordanc• wlth th• WIU of a1•gator. Coth3banth.- Fund$ used for Cochabamb• In Bolivla in a¢¢ordance wlth the Wlll of a lega¢or. Pen51ons lund.. For the beneflt of personnel on •lt4lnlng thelT normal r•tir*ment •g•. Educatlon fund.. Prov151on of flnanclal a5slstsnce for the educatlon of servlng team members, teenage chlldren. Capltal lund.. Funds set islde lor the freehold propety and offlce equlpment. M•mb•*¥' •xc•ss support lund.. Provlslon ol fflnbnclal a$51stsnce to be nomlnated by those member5 towards th?Ir car, eduratlon, pension, houslng, personal support or mlnlstry. Any elements unclolrned by Mem￿r$ ire un-deslgnated and returned to General Fund. Launch fvnd& Set aslde to provld* for th• st•rt-up )rKI $¢ttlln9-In ¢osts of n•w m•mb•rs on th• Stay programm•. Mlsslon lund.. Funds set aslde to enable the ch¥rbty to •ctively engJ9lng In prepjrlng for the future In the Chan9￿n9 world of mlssions. SFM X lund.. Funds set •slde to support 5tuggllng members. 36 LATIN LINK 16 ANALYSIS OF NEfASSEfs BETWEEN FUNDS 2024 Funds Fundi Fun Funth Tangible fixed a55ets Flxed Asset Investrnent Inveslments Bank 344.595 L900.000 344,595 1,900.000 50.018 686.971 282,5n itso,oio 1720,6281 50.018 122.0581 282.571 Q32.0761 58,427 650.602 Other Cyr￿nt assets Current liabilities Long-term Lièbilitie5 117,9341 1720.6281 Net Assets at 31 March 2024 178.455 1,564,460 650.602 2.393.517 2025 G•nw•l Dwlgn•thd R•rtrkt•d Fun Funth Funth Toial Fundi Tanglble fixed assets Flxed Asset Investment Investrrtents Bank Other current assels Current Ilabilitles Long-t¢rm Uabllliles 355.576 L900.000 355,576 1,900,000 50.018 623.565 178,823 1137,4571 1735,0281 50.018 67,370 103.823 1120,8031 55,042 50L153 75,000 116.6541 1735,0281 Net Assets at 31 MJrch 2023 100.408 1.558.936 576.153 2,235.497 17 PENSION SCHEME The cost to the Company ol provldlng pension and death In servke benetits ￿rIng the year ended 31 March 2024 was as follows: 2024 2023 Payments wlth respect to current staff Payments wlth respect to team members currently servlng overseas 30,829 82.780 30.275 85,291 113.609 115,565 18 OPERATIPK LEASE COMMrrMEiirs The totsl future amounts payable In respect of operating lea5e5 shown below are analysed accordlng to Ihe explry of the leases. 2023 Hire of pljnt and machinery Wlthin one year Between one and five year5: 960 960 960 L920 960 ANNUAL REPORT 2023-2024 37 TRusfEES No remuneration was paid to the Trustees durin9 theyear12023.. £nill. Expenses of £384 for travel were paid to 2 trustees duriThJ the year 12023: nill. Truste￿ indemnity insurance costing £174212023: £L4641 was paid by the charity. 20 RELATED PARTIES There were no related paty transactlons durlng the year, except as disclosed in Note 19. 21 PRIOR YEAR COMPARATIVES Funth Furnls Funth 2023 Incixn• •nd •ndtyhTn•nts from: Donations and legaaes: Donatlons & Legacles 343,767 4,932 75,000 423,699 Other tradirrfj activities 110,291 110.291 Stay programme Strlde pr¢>3ramme Step programme 254,350 6,581 800,902 74.473 73,711 1,061833 74.473 73,ni Totsl Incom• •nd •ndoMn•r 708.408 ll.s L024.086 L744.007 Exp•ndllyr• M: Raislng Funds ll4.828 114,828 Ch•rlt•bi• aclmtl 623.802 930,710 L554.512 Tot•1 •xp•ndltyr• 738.630 930,710 1669.340 Realised gain5111ossesl N•t (•xp•ndKur•)Ilncom• for th• >T•r 130,2221 ii,s 93.376 74,667 Transfers beknn funds 130,2221 11513 93,376 74,667 38 LATIN LINK •A tj Y.l.I'ryJ171T.•ry• yry• 'L4 iJJ• u .,'1 .1 ANNUAL REPORT 2023-2024 39 STRUCTURE GOVERNANCE AND, MANAGEMENT GOVERNING DOCUMENT The trustees seek to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body and look to achieve a balance of expertise and experience. In the event of particular skills being lost due to retirement. individuals are approached to offer themselves for election to the trustee board. ORGANISATION The organisation is a charitable company limited by guarantee. incorporated on 21 April 1993 and registered as a charity on 12 May 1993. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The board of trustees, whose number is unlimited, administers the charity. The board meet5 five times per year to review strategy and performance and to set the operating plans and budgets. They are assisted by a number of Action Groups: Link (serving former charity members) Finance Regional groups in Ireland and Scotland TRUSTEE INDUCTION AND TRAINING Prior to appointment a substantial proportion of trustees are already familiar with the practical work of the charity, having either served abroad or at home in one of its activities. New trustees are given relevant information from the various Charity Commission publications, copies of the charity's Memorandum and Articles and International Handbook, and the latest financial statements, and are encouraged to attend relevant public courses as available. The Action Groups comprise trustees and other individuals. and operate under specifi'c terms of reference that delegate certain functions from the trustee board. Each Action Group has its decisions ratified by the trustee board. A Chief Executive known as the Team Leader is appointed by the trustees and has delegated authority over the day to day operations, including programmes, publicity, employment and financial administration. The Team Leader is assisted by the Leadership Team, who are listed on page 42. RECRUITMENT AND APPOINTMENT OF DIRECTORS The directors of the company are also charity trustees for the purposes of charity law and under the company s Articles are known as members of the Executive, which is the management committee of the charity. Executive membership is determined by the trustees and under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years, after which they must be re-elected at the next Annual General Meeting. 40 LATIN UNK The pay for the Leadership Team is reviewed annually and changes are considered by the Finance Committee and approved by the trustees. When setting the pay for this group primary consideration is given to equivalent roles in other similar-sized charities. RISK MANAGEMENT mission scene in the UK and Latin America. Dealing with these issues is a key part of the strategic development plan. The charity has a risk management strategy involving an annual rolling review and update by the trustees of identified operational. personnel, financial, reputation and strategic risks. As trustees, we are satisfied that appropriate systems and procedures are in place to monitor, manage and where appropriate mitigate Latin Link Britain and Ireland's exposure to the major risks identified by our risk register. The challenges that face the charity at the moment are to make sure that it is are in a sustainable position for the future and then to position ourselves correctly to adapt to the changing PUBLIC BENEFIT The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, when reviewing the aims and objectives and in planning for future activities. In particular, the trustees have considered how planned activities will contribute to the aims and objectives they have set. VOLUNTEERS Latin Link continues to benefit from committed people who are willing to give their time to help the work of the charity. This ranges from those serving on the Action Groups to helping with office administration, offi'ce maintenance. catering and representing Latin Link at public events. ANNUAL REPORT 2023-2024 41 ADMINISTRATIVE DETAILS LEADERSHIP TEAM DIRECTORS AND TRUSTEES Terry Lockyer Team Leader I CEO The directors of the charitable company are its trustees for the purpose of charity law and those serving during the year and since the year end were as follows: Jo Jowett (Chair) James Butler (resigned 091231 Richard Stainton Evan Winter Noreen Bennett (resigned 061231 Ivan Neira John Harris (Treasurer) Charles Douglas Nicole Gleghorne Esther +Stansfield Head of Mobilisation Simone Lockyer Head of Programmes Kathie Davis-Bater Head of Central Services and HR CHARITY DETAILS Charity number: 1020826 and in Scotland SC052161 Company number: 2811525 Registered office and 87 London Street, operational address: Reading, Berkshire RGI 4QA Auditors: Jacob Cavenagh & Skeet, 5 Robin Hood Lane, Sutton. Surrey SMI 2SW Solicitors: Anthony Collins, 134 Edmund Street. Birmingham. B3 2ES Mark Mason Employment Law Ltd, Unit 3 Maltusk Entery)rse Part( Mallusk Drive. Newtownabbey, BT36 4GN Bankers: Bank of Scotland. West End Office, St James, Gate, 14-16 Cockspur Street, London, SWIY 5BL Working Names: Latin Link also operates under the working name5 of Latin Link Britain and Ireland, Latin Link B&1, Latin Link Ireland. Latin Link Scotland, and Latin Partners 42 LATIN LINK ANNUAL REPORT 2023.2024 43 LATIN LINK England and Wales tel: +44101118 957 7100 email.. info@latinlink.org.uk web: latinlink.org.uk Ireland tel., +4410)7736 033253 email.. 1reland@latinlink.org.uk Scotland tel.. +4410)7739 554381 email.. scotland@latinlink.org.uk Reglstered office: 87 London Street, Reading RGI 4QA Latin Link is a company limited by guarantee, registered in England 2811525. Registered charity no. 1020826 and in Scotland, registered charity no. SC052161, Reglstered wllh FR FUNDRAISING REGULATOR T Latin Link COMNIU1411Y WITbl A CALLING