REGISTERED CHARITY NUMBER: 1194468 LATIN COMMUNITY NETWORK Trustees. Report and Financial Statements for the Year Ended 31 December 2023 Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Contents of the Financial Statements for the Year Ended 31 December 2023 Page Trustees. Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Trustees. Report for the Year Ended 31 December 2023 The Iruslees present Iheir report with the financial slalements of the chariiy for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective 1 January 2019). Objectives and activities Objectives and aims Our aim is to empower Latin youths to build a brighter future through a personal growlh mindset journey via mentorship programmes and tailor-made events in collaboration wilh SUCssful individuals from all walks of life. We are a resource for young people We run mentoring program, physical, educational and other activities We help young people develop their skills, capacities and capabilities to enable them to participate in society as independent. mature and responsible individuals., We aim lo advance education We aim to relieve unemployment We aim to provide recreational and leisure time activity in the interests of social welfare for people living in the area who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view lo improving the conditions of life of such persons. Public benefit The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Volunteers The charity is run by volunteers. Financial review Reserves policy The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the charity's activities and aim to achieve reserve levels of three to six months of running costs. Going concern At the lime of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus, Ihe truslees continue to adopt Ihe going concern basis of accounting in preparing the accounts. The year ended with a net position of £Nil. Structure. governance and management Governing document The Latin Community Network is a Charitable Incorporated Organisation {CIO) registered on 14 May 2021 and is controlled by its governing document. CIO - Foundation regislered on 14 May 2021. Its charity registration number is 1194468. Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Trustees. Report for the Year Ended 31 December 2023 Structure, governance and management Recruitment and appointment of new trustees Trustees are elected by existing trustees in accordance wth the governing documents. A retiring trustee may be re-elected. New trustees are inducted. Reference and administrative details Registered Charity number 1194468 Principal address Flat 8 Simmons House Sussex Way London N7 6RX Trustees Edward Guzman Angela Serna Paola Andrea Saavedra Adolfo Alberto Souviron (appointed 23131231 Approved by order of Ihe board of trustees on 10 October 2024 and signed on its behalf by= gddpaod 6 Edward Guzman - Trustee Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Statement of Financial Activities for the Year Ended 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes Income and endowments from Donations and legacies 71 489 Expenditure on Charitable activities Aclivilies in furtherance of the charitys objectives 95 535 NET INCOMEI(EXPENDITURE) 124) 1461 Reconciliation of funds Total funds brought fomard 24 70 Total funds carried forward 24 The notes form part of these financial statements Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Balance Sheet 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes Current assets Cash at bank 24 Net current assets 24 Total assets less current liabilities 24 NET ASSETS 24 Funds Unrestricted funds 24 Total funds 24 The financial statements were approved by the Board of Trustees and authorised for issue on 10 October 2024 and were signed on its behalf by.. Edward Guzman - Trustee The notes form part of these financial ststements Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Notes to the Financial Statements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial stslements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Acl 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Stalement of Financial Activities once the charity has entitlement to the funds. il is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing Ihe charity to that expenditure, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in Ihe notes lo the financial statements. Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Notes to the Financial Statements - continued for the Year Ended 31 December 2023 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for Ihe year ended 31 December 2023 nor for the year ended 31 December 2022. MOVEMENT IN FUNDS Net movemenl in funds At 31.12.23 A11.1.23 Unrestricted funds General fund 24 {24) TOTAL FUNDS 24 {24) Net movement in funds, included in the above are as follows= Incoming resources Resources Movement expended in funds Unrestricted funds General fund 71 {95) {24) TOTAL FUNDS 71 {95) {24) Comparatives for movement in funds Net movement in funds At 31.12.22 A11.1.22 Unrestricted funds General fund 70 {46) 24 TOTAL FUNDS 70 {46) 24 Document ID.. 881 d4b71-e882-4212-beec-17e6df073459
LATIN COMMUNITY NETWORK Notes to the Financial Statements - continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS - continued Comparative nel movement in funds, included in the above are as follows.. Incoming resources Resources Movement expended in funds Unreslricted funds General fund 489 1535) {46) TOTAL FUNDS 489 1535) {46) RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. Document ID.. 881 d4b71-e882-4212-beec-17e6df073459