THE LATA FOUNDATION (A Company Limited by Guarantee) Company Registration No. 6264453 (England & Wales) Charity Registration No. 1123580 DIRECTORS, REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 IIA AB8G1211 3010812022 COMPAAIES HOUSE
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THE LATA FOUNDATION CONTENTS Page Trustees, Annual Report Independent Examiner's Report Statement of Financial Activitie5 Balance Sheet Notes to the Financial Statements io 11-12
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT The Trustees/Directors present their report and accounts for the year ended 310ecember 2021. The Trustees consider that the Accounts comply with the current statutory requirements, its governing document and the Statèment of Recommended Practice- Charities SORP IFKS 1021. REFERENCE & ADMINISTRAfioN DETAILS CHARITY NAME.. The LATA Foundation COMPANY NUMBER.. 6264453 REGISTERED CHARITY NUMBER.. 1123580 PRINCIPAL & REGISTERED OFFICE: 20 Upper Tachbrook Street London SWIV ISH DIREcfoRsifRUSTEES.. All dirertor5 served throughout the year except where shown.. M5 J Berry Miss N Gude Mr R Bra55 Mr C Pickard Ms K Mcwilliams Mr Cstewart Mrs P 8 Tellez-Garside Ms L Hughes Ms M Parkinson Ms K Aston Chair Vice-chair Treasurer COMPANY SECRETARY.. Mr R Brass INDEPENDENT EXAMINER= Fisher Phillips LLP Summit House 170 Finchley Road London NW3 6BP Page I
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT STRUCTURE GOVERNANCE AND MANAGEMENT LEGAL STATUS The LA TA Foundation is a company limited by guarantee that was (ncorporated on 31 May 2007 and rs governed by its Memorandum and Articles of Association. TRUSTEE SELECTION METHODS Trustees must be of good character, have experience of working with Latin America and have the profession31 skills and experience needed to contribute to the governance and objectives of the LATA Foundation. Up to 50% of Trustees may be appointed by the Committee of the Latin American Travel Association ILATAI from its ranks. OBJECTIVES AND ACTIVITIES 081ECT The LATA Foundation is dedicated to promoting responsible busines5 prartices in the tourism industry as well as 5U5tainable development. conservation and poverty relief in Latin America by tunding. supporting and devèloping charitable projects throughout the region. ACTIVITIES In 2021 grants were made to 14 project partners operating in 10 Latin American countries in a variety of areas including support for underprivileged & homeless children. environmental protertion & conservation, empowerment of women, development, education, and healthcare. These grants inclvded emergency support in response to the COVID-1g Pandemic including the provision of food parcels, medical Supplies including PPE and educational supplies to facilitate home sthooling. VOLUNTEERS The activities of the LATA Foundation are conducted by volunteers using donated facilities and resources. Teams of volunteers work to obtain donations, primarily from companies operating within the travel industrv and their staff, and fund5 raised are used to SUPPOrt spècific charitable projects in Latin America. The Volunteers report directly to the Trustees. PUBLIC BENEFIT The grants awarded by the LATA Foundation are subject to a rigorous approval process. are made only to charitable organisations and are for projects that are exclusively for public benefit in accordance with and regard to Section 4 of the Charities Act 2006. GRANT MAKING POLICY Applications for funding are accepted from charitable organisations. registered NGOS and charitable projects based in Latin America as well as charities working in Latin America but registered in other countries. Applications that satisfy the criteria of the LATA Foundation for funding must be submitted using the LATA Foundation application form and pioviding all of the information required. They are then assessed by the projects team before final 3pproval by the Trustees. Approved applications are then subjert to a project agreement that specifies the goals of the project as well as the project timeline and reporting requirement5. Page 2
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT ACHIEVEMENTSAND PERFORMANCE CHARfrABLE AcfiviTIES During the year, we met our objectives by granting £66.220 to 14 charitable projects throughout Latin America including ongoing support for long term project partners combined with continuing emergency support in responsè to the COVID-19 Pandemic. Friends of Alalay- Bolivia We continued our longstandinB support of the Alalay centre near Santa Cruz which provides shelter for children from broken homes. many of whom have spent time sleeping rough on the streets. In 2021, our funding provided vocational training scholarships for three to four students and continved to SUPPOrt enhanced hygiene measure5 at the welcome house and contingency fvnds for emergency medi¢31 care for the children and staff. Amount Branted in 2021.. £4.000. Projeto VidanGar- Brazil We continued working with Projeto Vidanfjar whose main activity. the VidanGar Dan School. 15 an initiative to offer underprivileged children from the favelas of Rio de laneiro the opportunity to express themselves through the art of dance and to provide them with the opportunity to do activities that otherwisè would not be possible due to their economic sltuation.. such as trips to cultural attrartions. Children'5 Days and Christmas parties with distributions of toys, clothes and hygiene kit5. The pandemic crisis in 8ra2il continued to affect alternative funding for the project and our support allowed it to continue pro¥iding dance lessons throughout the year. Classes were given in person to a Select number of students and by using videoconferencin& they were able to offer online dance and English classes. which has allowed the projert to expand by offering online le550ns to children in 8ahia. We also provided funding to allow some of the projects rnost promising students to travel for life changFng audttions at the prestigious Bolshoi Theater School in Joinville. Amount granted in 2021: £7,752. Abriendo Mentès- Costa Rlca Abriendo Mentes is a small community-b35ed projert in Guanacaste Province which aims to empower individuals from two rural coastal commLJnities through innovative and engaging education and community development programmes allowin8 them to develop skills and to seize economic opportunities. In 2021 we continued to support the project's Youth Development Programme which offers English, cornputer, sport and art lessons to yovnE people aged 4-20. Amount granted in 2021.. £3,732. Condor Trust- Ecuador We continued working with the Condor Trust to support grass roots work in auito helping underprivileged families with s¢hooling. The funding provides uniforms. books. school materials and living costs to enable hildren from low-income families to atterbd Secondary school in the city. with the ultimate aim of helping them complete their education, find a job and break the cycle of poverty. Our funding also ensured that participants were able to study online during the COVI(k19 pandemic by supporting the provision of wi-fi and re- conditioned laptops. Amount granted in 2021.. £5.000. Fundacion Calicanto- Panama In 2021 we provided funding to support the participation of 8women in Fundacbon Calicanto's CAPTA proEramme which gives educational and vocational training support to underprivileged women in Panama City. The course took place virtually over 9 weeks and inclvded 30 different modules focused on developing three core areas.. 11 Psychosocial Development, 21 Ernployability and Entrepreneurship and 31 Vocational Development. It is followed by a quarterly monitoring and èvaluation pro8rarn that allows Fundacion Calic2nto to measure the economic activity of the Eraduates and the consequent achievement of their goals. Amount granted in 2021= £3,771. Page 3
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT Ma¥an Midwifery International- Guatemala Mayan Midwifery International IMMII acts an advisory and fundraising body to the Maya midwives of the Association of Midwives of the Mam Speaking Area IACAMI who live and work in the remote, desperately poor and malnourished Mam-spe2king communities in Quetzeltango. In 2003, MMI bvilt the ACAM Midwifery and Birth Center in Concepcion Chiquirichapa which is the only medical centre in Guatemala owned and operated by indiÈenous midwives and is staffed by a Mam speaking Managing Director and volunteer midwives, physicians. and public health specialists. In 2021 we provided funding for food for midwivès and families in their communities as wèll as medical equipment and emergency supplies of PPE. suth as protettive clothin& gloves, masks and 3ntiba¢terial gel/soap, to help addre$5 the COVltk19 crisis. Amount granted in 2021.. £4.994. Heallng Venezuela- Venezuela In collaboration with Healing Venezuela. we continued to provide funding in response to the humanitarian crisis in Venezuela. The crisis has led to the exodus of more than 50% of rnedical staff (doctors, nurses and technicians) from the country making Junior Doctor5 Vltal to the running of state hospitals and the provision of medical care to the vast rnajority who carb't afford private care. Thè salary of a Junior Doctor is as little as $8. $15 per month and our funding helped to provide supplementary intome to 125 Junior Doctors in 5 hospitals. In addition, we provided funding to supply PPE to health tentres in two rural areas of Venezuela.. Altagracia de Oriiuco community lin Guarico Statel and Guaraunos village lin Sucre Statel to help them address the adverse effects of the COVID-19 pandemic. Amount granted in 2021.. £4.CrfJJ. Kids Saving the Rainlorest- Costa Rica Kids Saving the Rainforest IKSTRI rescues and rehabilitates Costa Rican wildlife in and around the Manuel Antonio National Park and condurts reforestation. land conservation and research in the area. Due to the COVID-19 pandemic the project has faced unprecedented challenges as the income from tourists and paying volunteers that the rescue centre relies upon has been badly affected. Our ongoing support in 2021 was focused on covering nJnning cost5 to ensure the survival of this long-terrn project partner whose work is so important for the future of sustainable tourism in the area. Amount grantèd in 2021= £4.426. Children Change Colombia- Colombia Working with our long-term partner, Children Change Colombia. we provided emergency funding to help address the haréship caused by the COVID-19 pandemic by providing food parcels to 60 families from vulnerable communities in 8ogota. Amount granted in 2021.. £1.¢. Sinal do Vale- Brazil Sinal do Vale is located in Santo Antonio. in the city of Duque de Caxias. where it runs a leaming centre that .prototypes ¢ommunity-baseé solutions for the regeneration of communities. food systems and forests. and disseminates them through education. products and servi¢es with local schools and youth and women's leader5. In 2021. due to the COVID-19 pandemic. we provided emeigency fundinE for the project to support 36 womerh in the community with food baskets sufficient to provide basic food supplies for one month. Amount granted in 2021.. £1,000. Peru Porters- Peru Working with local partners in the travel industry in Peru. we continued to provide emergency funding for essential food parcels for out of work trekking Porters. Our aim was to offer vital relief to families who had been empl¢yed in the tourism industry. but who had completèly lost their livelihoods due to the COVID-19 pandemic. As a result of phenomenal support for the initiative from the U.K. travel industry. we were able to fund an essential lifeline of regular food parcels throughout the year to more than 90 families. Amount granted in 2021: £15,895. Page 4
THE LATA FOUNDATION TRUSTEES, ANNUAL REPORT Xtraordinary Women- Nicaragua Xtraordinary Women works with women living in mar8inalized commvnities in Nicaragua. providing them with job skills. training programmes. entrepreneurship bootcamps and job placement. The aim is for them to become financially independent by giMng them the tools to break the cycle of extreme poverty and violente that often dominates their lives. In 2021, our funding supported the project with hvo new initiatives. The first was an Artisan business support and clevelopment project in Masaya that helped 20 female artisans, who haé suffered severe economic hardship due to the COVltk19 pandemic. to rebuild their businesses and generate their livelihoods. The second adapted the successful Bootcamp curriculum to support indigenou5 art15ans in the Caribbean port town of Bilwi which was 5eveTely irnpacted by Hurricanes Eta and Iota in November 2020. The Bootcamp taueht them how to establish sustainable businesses and connected them and their prodLJCts to nèw markets in Nicaragua. All participants in these initiatives also received PPE Kits and cleaning products fur their businesses. Amount granted in 2021: £5,CUJ. Galapagos Conservation Trust- Ecuador/Galapagos Islands Working with the Galapagos Consetvation Trust we supported an existin8 urban family garden project on San Cristobal Island that aims to alleviate food insecurity by empowering families to learn self-sufficiency in food. The project had reached 145 families through 7 local teacher5, engaging them in a nutrition campaign an providing them with educational gardening packs including seedlinEs to grow vegetables and endemic plants. Our funding aimed to inciease the reach of the projert across the inhabited islands in Galapagos potentially benefiting up to 1500 families. Amount granted in 2021.. £3,195. El Rio Foundation- Colombia In 2021 we began working with El Rio Foundation which was established due to the desirè of the El Rio Hostel in Buritica, near Santa Marta. to give back to the local community by offertn8 educational 5tJpport and cornmunity 5POrt opportunities. as well as reforestation and waste management projects. Our initial support funded an English language programme across four communtties in the area. This delivered 27 hours of English language classes per week to 19 children and 12 adults and tovered the purchase of teaching materials. Amount granted in 2021." £2.455 Pro ect Partners for 2022 In 2022, we aim to prioritise supporting our long-temi partners as they recover from the COVID-19 pandemic and plan to work with the following core projects.. -Projeto VidanGar- Brazil -condor Trust- Ecuador -Abriendo Mentes- Costa Rica -Kids Saving the Rainforest- Costa Rica -Xtraordinary Women- Nicaragua -Healing Vene2uela- Venezuela -Friends of Alalay- Bolivia -El Rio Foundation- Colombia -Calicanto- Panama Page 5
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT FUNDRAISING In 2021. our corporate donations continued to be negatively impacted by the COVID-19 pandemic. However, we benefited from regular support from donors such as Senderos and, in the second half of the year. from the resumption of donations from significant corporate donors such as Las Iguanas and Journey Latin America. We also raised significant funds from the travel industry through a hi8hly successful campaign to assist out of work trekking Porters in Peru and continued to benefit from the generosity of numerous individual donors and fundraisers, including a number of long-standing donors to whom we are very grateful. FINANCIAL REVIEW YEAR END FINANCIAL POSITION During the year we recorded a deficit on Unrestricted Funds of £21.614 leaving a balance at the year-end of £60,247 3nd a deficit on Restricted Funds of £3.475 leaving a balance at the year-end of £2,525. At the end of the year, we had sufficient funds in hand to meet all of our agreed grant commitrnents and to plan support for our 2022 project partners. RESERVES POLICY We currently aim to maintain a minimum reserve level of £25,(0. This will allow us to continue providing ongoing support to existing projert partners in the everbt that we fail to raise sufficient additional funds. The policy is reviewed annuallv. Page 6
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT STATEMENT OF TRUSTEES'lDIREORS, RESPONSIBILITIES The directors are responsible for preparing the Annual report and financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. The financial statements are iequired by law to give a true and fair view of the state ol affair5 of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to.. -select suitable accounting policies and then apply them con51Stently- -make judgements and estimates that are reasonable and prudent.. -follow applicable accounting 5tandard5,' -prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. The dirèctors arè resF)onsible for keeping proper accounting records that disclose with reasonable a¢¢uracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Att 2006. They are responsible for safeguarding the asset5 of the Company and hence for takinE reasonable steps for the prevention and detection of fraud and other irregularities. The report of the directors has been prepared in accordance with the provisions of Financial Reporting Standard 102 Section IA relating to small entities, with the special provision5 of Part 15 of the Companies Act 2006 relating to small companie5 and in accordance with Accounting and Reporting by ChaTlties.' Statement of Recommended Prartice applicable to chartties preparrng their accounts in accordance with FR5102- Charities SORP IFR51021. This rèport was approved by the board 24 August 2022 and signed on its behalf. R Brass Director Pa8e 7
THE LATA FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of the company for the year ended 31 December 2021. which are set out on pages 9- 12. Res ective res onsibilities of trustees and examiner The charity's trustees Iwho are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 A¢tl and that an independent examination is needed. Having satisfied myself that the chartty is not subjert to audit under company law and is eligit)le for independent examin3tion, it is my responsibility to.. examine the accounts under section 145 of the 2011 Art. follow the procedures laid down in the 8eneral Directions given by the Charity Commission lunder section 1451Sllbl of the 2011 Act. and state whether particular matter5 have come to my attention. Basi5 of o inion My examination was carried out in accordance with General Directions given by the Charity Commission. An examinatiorb includes a rewew of the accounting records kept by the charity and 3 comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures ndertaken do not provide all the evidence that would be required in an audit. and consequently no tspinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Inde endènt examiner's ststement In connection with my examination. no matter has come to my attention= which gives me reasonable cause to believe that. in any material respect. the requirement5'. to keep accounting records in accordance with section 386 of the Companies Act 2(K)6 and, to prepare accounts which atcord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the mèthods and principals of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met.. or 2. to which. in my opinion. attention should be drawn in order to enable a Proper understanding of the accounts to be reached. p.p.g Philip Syk For and on behalf of. Fisher Phillips LLP Summit House 170 Finchley Road London NW3 6BP Date.. 24 August 2022 Page 8
THE LATA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrirtèd Funds Restrlcted Funds Total Funds 311izl2021 Total Funds 3111212020 INCOME FROM.. -Donations -Income from fundraising events -Bank Interest TOTAL INCOME 18.623 23.302 41,925 38.120 370 922 39,412 272 18A95 69 23.371 341 42.266 EXPENDITURE ON.. -charitable grants ost of fundraising events -Bank, fijndraising & Sundry charges TOTAL EXPENDITURE 39374 26.846 66.220 70,906 I,ia5 40,509 1,135 67,35S 486 71,392 26,846 NET OEFICIT -21.614 -3A75 -25.1)89 -31,980 RECONCILIATION OF FUNDS-. Total fvnds brought forward Total funds carried forward SI61 60.247 87.861 62.772 119,841 87,861 2525 All recognised gains and losses are reflected through the statement of financial activities. The notes on pages 11 to 12 form part of these accounts. Page 9
THE LATA FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note5 CURRENT ASSETS Debtor5 Cash at bank and in hand 1.284 61.488 62.772 1.057 87,861 CREDITORS Amounts falling due within one year NET CURRENT ASSETS 62.772 87,861 CREDITORS Amount5 falling due after more than one year NET ASSETS 62,772 87,861 NET ASSETS REPRESENTED BY Unrestricted funds Restricted funds 60,247 2.525 62.772 81.861 6,000 87.861 lal For the year ending 31 December 2021 the company was entitled to exemption from audit under settion 477 of the Companies Act 2006 relating to small companies. Ibl The members have not required the company to obtain an audit of its accounts for the yèar in question in accordance with section 476. Icl The directors acknowledge their responsibility for comptying with the requirements of the Act with respea to accounting records and the preparation of accounts. Idl These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. financial statements were approved by the board on 24 August 2022 and signed on its behalf. Brass Director The notes on pages 11 to 12 form part of these accounts. Page 10
THE LATA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 I.ACCOUNTING POLICIES BarJiS of Pre aration of accounts The accounts have beèn prepared in accordance with Financial Reporting Standard 102 Section IA relating to small entities, Èn accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FR5102- Charities SORP IFR51021,' and with the Comp3nie5 Act 2006. They have been prepared under the historical cost convention, include no material uncertainties and have beèn prepared on a going concern basis. Cash Flow Statement The financial statements do not include a Cash flow statement because the cornpany, as a sm311 reporting entity. is exempt from the requirement to prepare such a statement ijnder Section IA of Financial Reporting Standard 102. Income All incoming resources are included in the St*ement of Financial Activities when the charity is legally entitled to the income and the amount can be quantrfied with reasonable accuracy. Fund Accountin Unrestricted funds are awdilable for use at the discretion of the Trustees in furtherance of the general objective5 of the charity. Aèstricted fvnds are funds which are to be used in accordance with specifi restrictions imposed by donors. Rèsourtes Ex ended All expenditure is accounted for on an accruals basis and has been classified under the relevant headings. -charitable grants comprises grants made by the charity in the furtherance of its objects. -costs of fundraising events are those costs incurred in holding events to raise hjnds. -Bank. fundraising & sundry cost5 represerbt bank payinent charges. expenses incurred frorn the use of the Just Giving and other donation platforms and any sundry administration expenditure. Goin Concern The financial statèmÈnis have been prepared using the going concern concept. The Trustees have considered the negative impart of the Covid-19 pèndemic which continues to affect donations. After undertaking the review, and considering the Charivs reserve of unrestricted funds. the Trustees are eonfident that the Charity will be able to eontinve to operate as normal for a period in excess of 12 months from the date of this report. 2.TAXATION The organisation is exempt from income tax by reason of its charitable status. 3.OIRECfORS' REMUNERATION AND EXPENSES No remuneration directly or indirectly out of the funds of the charity was paid during the period to any trustee or to any persons known to be connected with them. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the period. fhere were no employees of the charity during the year. 4.SHARE CAPITAL The company is limited by guarantee and has no share capital. All members have agreed to contribute a sum not exceeding £1 in the event of winding up. Page 11
THE LATA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 5.RELATED PARTY TRANSACTIONS A donation without conditions totalling £1.134 was reteivèd during the year from the Latin American Travel Association. There were no transactions with related parties during the year that require further disclosure. 6. DEBTORS 2021 2020 Pledged Oonations Gift Aid duè 1.134 150 1,284 856 201 1.057 7. SUMMARYOF MOVEMENT OF RESTRICTED FUNDS Fund Balances Brought Forward Fund Balances Expenditure Carried Forward Income Funds for.. Friends of Alalay- Bolivia Proieto Vidan¢ar- Braiil Sinal do V81È- Bra2il Children Change Colombia- Colombia Mayan Midwifery International- Guètema xtraordinary Women - Nicaragua Healing Venezuela VenezLtela COVID 19 Emergency Relief Peru Porters Food Parcels- Peru 3.314 3.314 1.0 I,ooi I,ooi I,ooi I,ooi 1.632 15,895 26.846 i.o(J) 1,632 18,420 23.371 2.S25 2.525 8.GRANTS BY COUNTRY Grants made to institutions in or operating in-. 2021 2020 Argentina Bolivia Brazil Colombia Costa Rica Ecuador Guatemala Guyana Nicaragua Panama Pèru Venezuela 4.0 .752 3.455 8.158 8.195 4,994 2,OLXI 19,5 1.5fXI 8.987 7.775 2.5 6,5 I,iio 10.125 6.5) 70,906 5.CKIO 3.771 15A95 4.000 66.220 Page 12