G)-ZqZ7 /55 THE LATA FOUNDATION (A comp.any L.imited by Guarantee) Company Registration No. 6264453 (England & Wales) Charity.R.egistration.No.. 11.23580 DIRECTORS, REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 IIIMI •AE871FklM* 1610912025 COMPANIES HOUSE A06
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THE LATA FOUNDATION CONTENTS Page Trustees, Annual Report .In.dependent.Examinerf.s..Rep.o.rt Statement of Financial Activities Balance Sheet Note5 to the-Flnancial Statements
THE LATA FOUNDATION TRUSTEES,. ANNUAL REPORT The Trustees/Directors present their report and accounts for the year ended 31 December 2024. The Trustees consider that the Accounts comply with the current statutory requirements, its governing document and the Statement of Recommended Practice- Charities SORP IFRS 102}. REFERENCE & ADMINISTRATION DEfAILS CHARITY NAME: The LATA Foundation COMPANY NUMBER: 6264453 REGISTERED CHARIIY NUMBER.. 1123S80 PRINCIPAL & REGISTERED OFFICE.. 20 UpperTachbrook Street London SWIV 15H DIRECTORS/TRUSTEES: All directors served throu8hout the year except where shown: J Berry N Gude R Brass K Mcwilliams C Stewart P 8 Tellez-Garside L Hughes M Parkinson K Aston C Hendry M John50n C Plckard Chair Vice-chair Treasurer Resigned S September 2024 COMPANY sEcRARY. 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 STATU5 The LATA Foundation is a company Ilmited by guarantee that was Incorporated on 31 May 2007 and Is governed by its Mernorandum and Articles of Association. TRUSTEE SELECTION MEfHOD5 Trustees must be of good chararter, have expertence of working with latin America and have the professlonal skills and experience needed to contribute to the governance and objectives of the LATA Foundation. Up to SO% of Trustees may be appointed by the Committee of the Latin American Travel Association ILATA) from its ranks. OBJEcfivES AND A IVITIES OBJEcr The LATA Foundation 15 dedicated to promoting responslble buslness practices in the tourism industry as well as sustainable development, conservatlon and poverty rellef in Latin America by funding, supporting and developing charitable projects throughout the region. ACTIVITIES In 2024 grants were made to 8 project partners operatin8 in 8 Latin American countries in a variety of area5 Including support for underprivileged & homeless chlldren, environmental protection & conservation, empowerment of women, sustainable tourism & economic development, education and healthcare. VOLUNTEERS In 2024 the activlties of the LATA Foundation were conducted by volunteers uslng donated facilities and resources. Teams of volunteers worked to obtain donations, primarily from companies operating Wlthin the travel industry and their staff, and funds raised were used to support specific charitable projects in Latin America. The Volunteers reported dlrectly to the Trustees. At the end of the yedr, pldns were In place for a future part-time staff member to asslst with, enhance and manage these volunteerattivities. PUBLIC BENEFIT The grants awarded by the LATA Foundation are subject to a rigorous approval process, are made only to charitable or8anisations and are for projects that are exclusively for public benefit in accordance with and regard to Section 4 of the Charlties Act 2006. GRANT MAKING POLIC Appllcations for funding are accepted from charitable organlsatSons, reglstered NGOS and charltable 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 rnust be submitted using the LATA Foundation application form and providing all of the information required. They are then assessed by the projects team before final approval by the Trustees. Approved applications are then subject to a projert agreement that specrfies the goals of the project a5 well a5 the project timeline and reporting requirements. Page 2
THE LATA FOUNDATION TRUSTEES, ANNUAL REPORT ACHIEVEMENTS AND PERFORMANCE CHARITABLE A1VITIEs During the year, we met our objectives by granting £28,637 to 8 charitable projects throughout Latin America which included core criteria related projects as well as transitional support for long-term project partners. Friends of Alalay- Bollvla We provided transitional funding to our longstanding partner the Alalay centre near Santa Cfuz which provides shelter for children from broken homes, many of whom have spent time sleeping rough on the streets. The fundin8 contlnued vocational training scholarships for four children and provided general funds to allow the centre to rebuild its reserves and to hold a contingency for emergency medical care for the children and Staff. Amount granted in 2024." £2.000. Projeto Vldansar• Brazll We continued our support of Projeto VidanGar whose main actlvity, the Vidan[ar Dance School, is an initiatlve to offer underprivileged children from the favelas of Rio de Janeiro the opportunity to express themselves through the art of dance and to provide them with the opportunlty to do activities that otherwise would not be posslble due to their economic sltuation; such as trips to cultural attrartions, Chlldren's Days and Christmas parties with distributions of tOy5, clothes and hygiene kits. Our 2024 funding supported general running costs including food for the children and the salaries of ballet teachers and the teachers of online English classe5. Amount granted in 2024: £4,000. Healing Venezuela - Venezuela In collaboration with Healing Venezuela, we provided transitional funding to offer continued support in response to the onEoing humanitarian crisis in Venezuela. The crisis has led to the exodus of more than 50% of medical staff {doctors, nurses and technicians> from the country making Junior Doctors vital to the running of state hospitals and the provision of medical care to the vast majority who cannot afford private care. The salary of a Junior Doctor is as little as $8-$15 per month and our funding helped to continue providing a supplementary income of $40 per month to a number of Dottors who were selected according to need. Amount granted in 2024: £1,500. Klds Savlng the Ralnforest- Costa Rka Kids Saving the Ralnforest IKSTRI rescues and rehabllitates Costa Rican wlldllfe in and around the Manuel Antonio National Park and conducts reforestation, land conservation and research in the area. Continuing our long-term support forthis partner, in 2024 we provided funding to improve, remodel and expand the sloth enclosures to ensure that they offer the best quality of life and the hlghest possible standards of animal welfare. Amount granted in 2024: £4,109. Xtraordlnary Women - Nicaragua Xtraordinary Women works with women livin8 in marginalized communities in Nicaragua, providing them wlth Job skills, training programmes, entrepreneurship bootcamps and job placement. The aim isfor them to become financially independent by giving them the tools to break the cycle of extreme poverty and violence that often dominates their lives. In 2024, we prowded transitional funding to allow ten women to benefit from two months of one-to-one business coaching and mentoring sessions to help them launch their own home- based Sweets businesses. Amount granted in 2024.. £2,000. Page 3
THE LATA FOUNDATION TRUSTEES. ANNUAL REPORT El Rio Foundation- Colombia El Rio Foundation was established due to the deslre of the El Rio Hostel in Buritica, near Santa Marta, to give .back.to the local.community by offering educational support and community sport.opportunities. as well as reforestation and waste management projects. Building on the English language programme that we helped fund for several years, our funding in 2024 supported a full year of English teaching and tutoring in one community in Buritica.. Amount granted in 2024". £5,140.. Ploflor House- Peru Picaflor House is an educational charity working in the small town of Qropesa, and other villages in the .sur.r.ounding rural area 25km outside of Cusco, which offers a comprehensive after school pfogramme.ln academic and non-academic subjects to children aged 3-15. Our funding in 2024 supported a mobile library project to Improve aCsS to and the quality of education for children in rural villages around Cusco who had been excluded from online learning during the COVID.-19. pandemic due to a lack of access to the internet and. computing devices. The library vi51ted three rural villages every week taking book5, teachers, and other learning resources to 100 children aged between 5 and 14, helpinE them to reongage with education and to catch-up academically. Amount granted.in 2024: £5.140. AMA Torres del Palne - Chlle AMA Torres del Paine is a non-profit environmental group that supports and finances projects to conserve the natural environment of the Torres del Paine National Park. The organisation contributes to conservation. projects, sclentlfic research and environmental education initiatives every year, all aimed at preser4*in8 the unique natural and cultural resources of Torres del Paine. Our funding SUPPOrted the conservation and .restoration.of.the national park. including the.buildin8.of new trails and.the reconstrurtion.of.existing.trails.to help reduce soil erosion and minimise the effect of rainfall. The creation of well-designed routes in the park will also help prevent biodiverslty loss and reduce any negative impacts of tOUfiSm while contrlbuting to the economic well-being of local communities.b.y promoting responsible tourism that respects.natural resources. .Amount Eranted.in.2024'. £4,748. .P.age.4
THE LATA FOUNDATION TRUSTEES, ANNUAL REPORT ec Partners for 2025 In 2025 will continue to work on aligning our projects with the areas of interest of our principal donors in the travel Industry and have so far agreed support for the following projects: -El Rio Foundation- Colombia -Picaflor House- Peru -Pro Eco Azuero- Panama -community Baboon Sanctuary Women'5 Conservation Group - Bellze FUNDRAISING In 2024 we received corporate donations from key partners in the travel and hospitality industries including Journey Latin America. Senderos, Las Iguanas, Last Frontiers. Audley Travel, Rainbow Tours and Sunvil. We also benefited from the opportunity to fundraise at LATA Expo and from the support of Indlvidual donors, Includin8 long-standing regular donors, to whom we are very grateful. FINANCIAL REVIEW YEAR END FINANCIAL POSITION Ourin8 the year we recorded a surplus on Unrestricted Funds of £33,368 leavin8 a balance at the year-enLI of £104,140 and a defiat on Restricted Funds of £231 leaving a balance at the year-end of £897. At the end of the year, we had sufficient funds in hand to meet all of our agreed grant commitments and to plan support for our 2025 project partners. RESERVES POLICY We currently aim to maintain a rninimum reserve level of £35,000. Thls will allow us to continue providing on8oin8 SUPPOrt to existing project partners in the event that we fail to raise sufficient additional fund5. The policy Is reviewed annually. Page 5
THE LATA FOUNDATION TRUSTEES, ANNUAL REPORT STATEMENT OF TRUSTEES'/DIREcfoRS' RESPONSIBILITIES The dlrectors are responsible for preparlngthe Annual report and flnancial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. The financia statements are requlred by law to glve a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparin8 these financial statements, the directors are requlred to: -select suitable accounting polioes and then appty them consistently: -make Judgements and estlmates that are reasonable and prudent: -follow applicable accounting standards; -prepare the financial statements on the going concern basls Unle It Is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Company and enable them to eThsU that the financial statements comply wlth the Companie5 Act 2006. They are responslble foT safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. The report of the directors has been prepared in accordance with the provisions of Financial Reportin8 Standard 102 Section IA relating to small entities. with the special provisions of Part 15 of the Companies Act 2006 relating to small cornpanies and in accordance with Accounting and Reporting by Charities: Statement of Recommended Pract5ce applicable to charities preparlng their accounts sn accordance with FR5102- Charltles SORP IFRS1021. This report was approved bythe board 8 September 2025 and signed on its behalf. R Brass Director Page 6
THE LATA FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of the company for the year ended 31 December 2024, which are set out on pages 8- ii. Res ective res nsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law} are responsible for the preparation of the accounts. The charitrfs trustees consider that an audit is not required for this year under 5ertion 144 {2) of the Charitie5 Art 2011 (the 2011 Act) and that an independent examinationls needed. Having satisfied myself that the charty is not subject to audit under company law and is e1ible for independent examination. it is my responsibility to: examlne the accounts under sectlon 145 of the 2011 Ac¢ follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515llb) of the 2011 Act, and State whether particular matters have come to my attentlon. Basis of o inion My examination was carried out in actordance wlth General Directions 8iven by the Charity Commlssion. An examinatlon Includes a revlew of the accounting records kept by the charity and a comparison of the accounts presented wlth those records. It also Includes conslderation of any unusual Items or dSsclosures In the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the eVIden that would be required In an audit, and consequently no opinion 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. Ind end nt examiner's statem In connection with my examination, no matter has come to my attentlon: l. which gives me reasonable cause to believe that. in any material respect. the requirements: to keep accountSn8 records In accordance wlth sectlon 386 of the Companies Act 2(K16 and, to prepare accounts which accord with the accounting records and comply wlth the accountln8 requirements of section 396 of the Companies Act 2006 and with the methods and principals of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or 2. to which, In my opinion, attentlon should be drawn In order to enable a proper understandlng of the acc ts reached. Micha C. Sparrow For and on behalf of, Fisher Philllps LLP Summlt House 170 Finchley Road London NW3 6BP Date: 8 September 2025 Page 7
THE LATA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted Funds Restrirted Funds Total Funds 3111212024 Total Funds 3111212023 INCOME FROM: -Donations -Income from fundraising events -Bank Interest TOTAL INCOME 56,049 3,750 59.799 53,348 3.127 59.176 3.161 62,960 1,546 35,426 3.784 EXPENDITURE ON: -Charltable grants -cost of fundraSsing events -Bank. fundraising & sundry charges TOTAL EXPENDrruRE 24.637 4,000 28,637 39,897 1.171 419 40.876 4.015 29023 INCOME 33,368 -231 33,137 14,578 RECONCILIATION OF FUNDS: Total funds brought forward Total funds carrled forward 70,772 104,140 1.128 71,900 105,037 57.322 71,900 All recognised gains and losses are reflected throu8h the statement of financlal activitles. The notes on pa8es 10 to 11 form part of these accounts. Page 8
THE LATA FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes CURRENT ASSETS Debtors Cash at bank and in hand 456 104.581 105,037 901 70,999 71,900 CREDrroRS Amounts fallin8 due wlthin one year NET CURRENT ASSErs 105.037 71,900 CREDffORS Amounts falling due after more than one year NET ASSETS 105.037 71,900 NET ASSETS REPRESENTED BY Unrestricted funds Restricted funds 104,UO 897 70,772 1,128 71,900 105.037 (a) For the year endln8 31 Oecember 2024 the company was entitled to exemption from audit under sertion 477 of the Companies Act 2006 relating to small companles. {b) The members have not required the company to obtain an audit of its accounts for the year In question in accordance with section 476. {cl The directors acknowledge thelr responsibblity for complylng with the requlrements of the Act wlth respect to accounting records and the preparation of accounts. (d) These accounts have been prepared in accordance with the provisions applicable to companie5 subject to the small companles, regime. The flnancial statements were approved by the board on 8 September 2025 and signed on Its behalf. R Brass Dlrector The note5 on page5 10 to 11 form part of these accounts. Page 9
THE LATA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 I.ACCOUNTING POLICIES Basis of Pre aration of accounts The accounts have been prepared in accordance wlth Financial Reporting Standard 102 Section IA relating to small entlties, in accordance wlth Accounting and Reporting by Charities: Statement of Recommended Practl applicable to charities preparing their accounts in accordance with FRS102- Charities SORP (FRS102)' and with the Companies Act 2006. They have been prepared under the historical cost convention, include no material uncertainties and have been prepared on a going concern basis. Cash Flow Statement The financial statements do not include a Gish flow statement because the company, as a small reporting entlty, Is exempt from the requlrement to prepare such a statement under Sectlon IA of Flnanclal Reportln8 Standard 102. Incom All incoming resources are included in the Statement of Financial Activitie5 when the charity is legally entltled to the income and thè arnount can be quantified with reasonable accuracy. Fun Ac ountin Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectSves of the charlty. Restricted funds are funds which are to be used in accordance with speclfic restrictions imposed by donors. so rces Ex ende 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 funds. -8ank, fundraising & sundry costs represent bank payment charEes, expenses incurred from the use of the Just Giving and other donation platforms and any sundry admlnlstratlon expendlture. 2.TAK4TION The or8anisation is exempt from income tsx by reason of its charitable status. 3.DIREcfoRS' REMUNERATION AND EXPENSES No remuneration directly or indirectly out of the funds of the charity was pald durfng the perlod to any trustee or to any persons known to be connected with them. There were no employee5 of the charity during the year. 4.SHARE CAPITAL The company is limlted by guarantee and has no share capital. All members have a8reed to contribute a sum not exceeding £1 in the event of winding up. 5.RELATED PARTY TRANSACTIONS A donation without conditions totalling £347 was received during the year from the Latin American Travel Association. There were no transactions with related parties during the year that require further disclosure. Page 10
THE LATA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. OEBTORS 2024 2023 Pledged Donations Gift Aid due 419 456 901 7. SUMMARY OF MOVEMENT OF RESTRicfED FUND5 Fund Balances Brought Forward Fund Balances Carrled Forward Income Expenditure Funds for: Projeto Vldanpr- Brazll 1,128 1,128 3,784 3,784 4,015 4,015 897 897 Pro eto V5dan ar: Donatlons wlth restrSctions for Projeto VldanGar In Brazll allow for the use of the funds for any purpose in pursult of the project's objectives, Including general running costs. .GRANTS 8Y COUNTRY Grants made to institutions in or operating in: 2024 2023 Bolivia Brazil Chile Colombla Costa RSca Ecuador Mexlco Nicaragua Panama Peru Venezuela 2.000 4.000 4.748 5.140 4.109 4,000 4,000 4,580 4,783 4.000 4,047 7,107 4,255 125 3,000 39,897 2.000 5,140 1.5(KJ 28.637 Page 11