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 SUC￿ssful
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.
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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
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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
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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
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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.
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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
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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.
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