LATIN LINK INTERNATIONAL
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Registered Charity No. 237483
LATIN LINK INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2023
| REFERENCE AND ADMINISITRATIVE DETAILS | REFERENCE AND ADMINISITRATIVE DETAILS | |
|---|---|---|
| Charity number | 237483 | |
| Registered office: | 20 Quarry Close, Rugby, Warwickshire, CV21 1DR | |
| Trustees: | ||
| The trustees who served during the year and since the year end were as follows: | ||
| Katharine Griggs | Chair | |
| Roland Brown | resigned 31/01/23 | |
| Patricia King | appointed 27/04/22 | |
| Raymond Miller | appointed 05/02/22 | |
| International Team Leader: | Suzanne Potter | |
| Bankers: | Bank of Scotland, West End Office, St James' Gate | |
| 14 - 16 Cockspur Street, LONDON SW1Y 5BL | ||
| STRUCTURE, GOVERNANCE AND MANAGEMENT | ||
| Governing document |
First registered as a charity in March 1965 as the Evangelical Union of South America (EUSA), the name was changed to Latin Link International in March 2002 when the current constitution was adopted by its International Assembly, a representative group of all the Country Teams that make up Latin Link
Recruitment and Appointment of Trustees
The International Assembly made up of representatives from all the Country Teams affliliated to Latin Link International meets every four years and one of the main businesses of this gathering is the election of members to the International Forum, which has responsibility to oversee the work of the International Team Leader and to champion the direction of the fellowship until the next International Assembly. Members of the International Forum who are resident in the Uk are appointed as official trustees of Latin Link International.
Trustees induction and Training
Most of the trustees are already familiar with the work of Latin Link International due to their membership or former membership of one of the country teams. All trustees are nevertheless provided with copies of the International handbook which forms part of the constitution of the charity and with guidance from the charity commission concerning the roles of trustees
Public Benefit
In fulfilling their roles and responsibilities during the year in question, the trustees have taken due regard of the Charity Commission’s guidance on public benefit.
Safeguarding
An updated version of Latin Link’s Policy for the Protection of Children and Adults with Care and Support Needs was approved by the trustees and issued in April 2022.
Risk Management
The trustees have conducted a review of the major risks to which Latin Link International is exposed, and compiled a Risk Assessment Register. Where appropriate, procedures have been established to mitigate the risks Latin Link International faces.
Organisational Structure
Day to day management of Latin Link International is in the hands of the International Team leader with support from the Core Team, a group of Latin Link missionaries selected by the International Team Leader based on their background and areas of mission and with oversight from the board of trustees.
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LATIN LINK INTERNATIONAL REPORT OF THE TRUSTEES (cont'd) FOR THE YEAR ENDED 31 MARCH 2023
OBJECTIVES AND ACTIVITIES
The vision of the charity as a community with a calling is:
To be enabling the Latin American Church, flourishing in depth and numbers, to better fulfil its mission in the world.
To this end, we seek to partner with Latin American Christians for the advance of the mission of Christ by placing our members strategically in the areas of: mission mobilisation, the reduction of Bible poverty and the improvement of human dignity.
The 3 strategic goals for 2022-2026 that have been set are:
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To listen to God, the Latin American church and each other, adapting our ways of doing things in response to God’s action and a changing world,
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To increase our mobilization for missions, particularly amongst Latin Americans (including diaspora) communities, and
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To strengthen member care and enhance members experience of community at all levels of Latin Link.
ACHIEVEMENTS AND PERFORMANCE
The Latin Link International Core team met virtually on a fortnightly basis, and met in person in Scotland in September 2022 to review progress and set strategic goals for the next 4 years. The Core team also took time to reflect and pray for each Latin Link team, as well as to plan for our International Gathering, which took place in February 2023 in Santa Cruz Bolivia.
In May the Latin Link Week of Prayer was held and included the opportunity for the whole Latin Link community to meet together virtually. We also held 3 other virtual ´Times Together´ throughout the year to enable members in different teams to connect.
6 members of Latin Link continued in the third year of Harry Hoffman´s CARE course funded by Latin Link International.
Over the course of the year, our Member care team provided different virtual workshops for cross-cultural couples, and for singles. We also managed support groups for those going through transitions, and for parents of third culture kids.
We arranged and covered the cost for a number of psychological assessments undertaken by external professionals recognising some signs of burn out amongst some of our members, as the long term effects of the COVID pandemic show themselves. In response to individual cases, ongoing counselling or support was arranged where appropriate.
The International Team Leader participated in the annual conferences of 6 of our country teams. Another Core team member participated in the annual conference of another country team.
The Core team began a consultation process, using the services of an external consultant, who has undertaken a number of one to one interviews and focus groups, as well as overseen an online questionnaire, which has involved many of our members as well as ex-members, friends, colleagues, partner projects and churches. This process is ongoing, as the consultant now works through the results and data in order to report back to us during 2023.
We have also invited a number of Latin American international leaders to form an International Advisory Board for Latin Link which had its first meeting in May 2023
In February 2023, we gathered 140 of our members and partners together in Santa Cruz, Bolivia, where we enjoyed learning about topics such as preventing burn out, building organizational trust, diaspora missions, mission mobilization and new initiatives. The time together also enabled good interaction between our teams and between the core team and our members.
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LATIN LINK INTERNATIONAL REPORT OF THE TRUSTEES (cont'd) FOR THE YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW
The work of Latin Link International is largely funded from membership fees from Country Teams and the occasional grants from various trusts and foundations.
The International Team Leader is self-funded so the only costs relate to the general running of the International Office and the Core Team which provides leadership support to the country teams as well as developing international policy and best practice.
The main costs during the year in question relate to the staging of the International Gathering in Bolivia in February. Other costs have included the general running of the International Office and the Core Team which provides leadership support to the country teams as well as developing international policy and best practice.
Reserves Policy
The trustees have examined the charity's requirements for reserves in the light of the main risks that face the charity, and has updated its reserves policy in recent months. The current balance of budgeted undesignated reserves of £63,467 is well in excess of the target of 45-55% of predicted income from members’ fees.
Going Concern
The trustees have reviewed the circumstances of the charity and consider that adequate resources continue to be available to fund the activities for the foreseeable future. The trustees are of the view that the charity is a going concern.
Approved by the trustees on 2nd July 2023 and signed on their behalf by:
Katharine Griggs
Director and Chair of the Trustees
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LATIN LINK INTERNATIONAL REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 MARCH 2023
I report on the accounts of Latin Link International for the year ended 31 March 2023 which are set out on pages 5 to 10.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 145(1)(a) of the 2011 Act);
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to follow the procedures laid down in the General Directions given by the Charity
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Commissioners (under section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name: Greville Parmenter ACMA, BA (Hons) Address: 86 Okus Road, Swindon, Wiltshire, SN1 4JP
Date: 26/01/2024
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LATIN LINK INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Notes Incoming resources Incoming resources from generated funds: Voluntary income: Donations Grants received Sundry income Activities for generating funds: Incoming resources from charitable activities: Britain & Ireland Switzerland Other Country Teams Total incoming resources Resources expended Costs of generating funds: 2 Charitable activities Latin American Development 2 International Partnership 2 International Assembly Leadership Capital General (Office) Fund 2 Total resources expended Net income/(expenditure) 3 before other recognised gains Realised (losses) Net income/expenditure for the year Transfers between funds Net incoming/(outgoing) resources before other recognised gains Unrealised gains on investments Net movement in funds Reconciliation of funds Total funds brought forward FUND BALANCES CARRIED FORWARD The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activiti |
Unrestricted Designated Total Total Funds Funds 2023 2022 £ £ £ £ - - - - - 1,270 - 1,270 361 |
|---|---|
| 1,270 - 1,270 361 - - - 30,327 30,327 30,569 7,585 7,585 6,932 3,557 3,557 1,113 |
|
| 42,739 - 42,739 38,975 |
|
| - - - - - - - 500 - - 10,000 67,993 67,993 3,749 23,071 23,071 3,654 - - 2,372 5,651 - 5,651 5,072 |
|
| 5,651 91,064 96,715 25,347 |
|
| 37,088 (91,064) (53,976) 13,628 - - |
|
| 37,088 (91,064) (53,976) 13,628 (24,235) 24,235 - - |
|
| 12,853 (66,829) (53,976) 13,628 - - - - |
|
| 12,853 (66,829) (53,976) 13,628 50,614 138,668 189,282 175,654 - |
|
| 50,614 138,668 189,282 175,654 |
|
| 63,467 71,839 135,306 189,282 |
|
| ` es. |
| LATIN LINK INTERNATIONAL | Page 6 | ||||
|---|---|---|---|---|---|
| BALANCE SHEET AT 31 MARCH | 2023 | ||||
| 2023 | 2022 | ||||
| Notes | £ | £ | |||
| FIXED ASSETS | |||||
| Tangible Assets | 6 | - | - | ||
| Investments | |||||
| - | - | ||||
| CURRENT ASSETS | |||||
| Stock | |||||
| Debtors | 21,857 | 9,505 | |||
| Cash at bank and in hand | 113,518 | 179,797 | |||
| 135,375 | 189,302 | ||||
| Liabilities | |||||
| Creditors falling due within one year | 7 | 69 | 20 | ||
| Net current assets | 135,306 | 189,282 | |||
| Total assets less current liabilities | |||||
| Creditors falling due after more than one year | - | - | |||
| Net assets | 135,306 | 189,282 | |||
| The funds of the charity | |||||
| Unrestricted income funds: | |||||
| Designated | 8 | 71,839 | 138,668 | ||
| General | 8 | 63,467 | 50,614 | ||
| 135,306 | 189,282 | ||||
| Total charity funds | 135,306 | 189,282 | |||
| The notes on pages 7 to 10 form part of these accounts | |||||
| Approved by the Board on 02 July 2023 and signed on its | behalf by: |
Katharine Griggs
Director and Chair of the Trustees
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LATIN LINK INTERNATIONAL NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
a) BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention 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 (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102).
Latin Link International meets the definition of a public benefit entity under FRS 102.
b) GOING CONCERN BASIS OF ACCOUNTING
The trustees have considered 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.
c) FUND ACCOUNTING Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
d) INCOME RECOGNITION
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
Investment income is included when receivable.
e) EXPENDITURE RECOGNITION Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include professional fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
f) TANGIBLE FIXED ASSETS AND DEPRECIATION Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised. Depreciation is provided at rates calculated to write off the costs of each asset over its expected useful life, which in all cases is estimated at 6 years.
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g) LEASING AND HIRE PURCHASE COMMITMENTS
- Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rates of charge on the net obligations outstanding in each period.
h) DEBTORS
Debtors are included at the settlement amount due and prepayments are valued at the amount prepaid.
- i) CASH AT BANK AND IN HAND Cash at bank and in hand consists of all amounts held in banks and short term deposits with maturity value of 30 days or less.
j) CREDITORS AND PROVISIONS
- Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
k) FINANCIAL INSTRUMENTS
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.
l) PENSION
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. 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.
m) FOREIGN CURRENCIES
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Balances denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date and all differences are taken to the Statement of Financial Activities.
LATIN LINK INTERNATIONAL NOTES TO THE ACCOUNTS (ctd) FOR THE YEAR ENDED 31 MARCH 2023
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2 Total Resources Expended
| International | Internationl | ||||||
|---|---|---|---|---|---|---|---|
| Assembly and | International | Office | |||||
| events | leadership | (General) | 2023 | 2022 | |||
| Costs directly | Total | Total | |||||
| allocated to activities | £ | £ | £ | £ | £ | ||
| Bank Service Charges | 1,212 | 1,212 | 317 | ||||
| Books and Publications | 882 | 882 | 389 | ||||
| Contract Labour | - | 2,357 | |||||
| Dues and Subscriptions | - | 6 | |||||
| Food | 163 | 163 | |||||
| Professional fees | 6,823 | 9,287 | 360 | 16,470 | 6,788 | ||
| Gifts and Donations | - | 2,451 | |||||
| Motor Expenses | - | ||||||
| Office Supplies | - | - | 1,881 | ||||
| Postage and Delivery | - | 37 | |||||
| Printing and Reproduction | - | 213 | |||||
| Rent & Rates | - | ||||||
| Salaries & Wages | - | ||||||
| Software Expense | 238 | 2,700 | 2,938 | 1,240 | |||
| Telephone | 334 | 334 | 24 | ||||
| Travel & Ent | 45,251 | 11,326 | 56,577 | 6,347 | |||
| Retreats & Conferences | 15,919 | 2,220 | 18,139 | 2,797 | |||
| - | |||||||
| Total resources | |||||||
| expended | - | - | 67,993 | 23,071 | 5,651 | 96,715 | 24,847 |
3 Net incoming (outgoing) resources for the year
This is stated after charging/(crediting) the following:
2023 2022 £ £ Depreciation - -
4 Taxation
The charitable activities of the charity are exempt from Corporation Tax.
5 Trustee and staff information
No staff are employed by the charity No remuneration was paid to the Trustees during the year. The amount of donations made by trustees to the charity was £nil
6 Tangible Fixed Assets
There are no tangible fixed assets
7 Creditors: Amounts falling due within one year
The only creditors with an amount falling due within one year was the Balance of Team Leader's Credit card.
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2023 2022
£ £
69 20
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LATIN LINK INTERNATIONAL NOTES TO THE ACCOUNTS (ctd) FOR THE YEAR ENDED 31 MARCH 2023
8 Movements in Funds
| Movements in Funds | |
|---|---|
| Designated funds: Latin America Development International Assembly and events International Leadership Capital Critical Incidents Formation of leaders Leadership conference 2024 Total designated funds Unrestricted funds: General / Emergency Total unrestricted funds Total funds |
Incoming Outgoing Transfers As at 1 April 2022 Resources Resources As at 31 March 2023 £ £ £ £ £ 7,374 - (7,374) - 54,628 (67,993) 36,444 23,079 31,794 (23,071) 40,037 48,760 5,502 - (5,502) - 7,874 - (7,874) - 7,874 - (7,874) - 23,622 (23,622) - |
| 138,668 - (91,064) 24,235 71,839 |
|
| - - 50,614 42,739 (5,651) (24,235) 63,467 |
|
| 50,614 42,739 (5,651) (24,235) 63,467 |
|
| 189,282 42,739 (96,715) - 135,306 |
Purposes of Designated Funds
Latin America Development: Support pioneering work in countries where Latin Link has no country teams
International. Leadership : For travel of International Team Leader and Core team to support teams plus investment in training and resources in strategic areas.
International Assembly and Events: To set aside funds each year to cover the costs of running the International asembly every 4 years
Capital fund: Funds set aside from the sale of freehold property for specific office equipment/materials that cannot be capitalised.
Critical Incidents: To enable response to any critical or emergency incident
Formation of leaders: Fund to support training and development of leaders from Latin America
Leadership conference 2024: Accumulation of funds to facilitate the meeting of Latin Link team leaders in 2024
During the year trustees decided to reallocate the funds and have amalgamated some of them together to better reflect how the charity operates. The Capital and Critical Incidents funds have been redesignated to Generals Funds as it now incorporates Emergencies. The Leadership Conference 2024 funds has been moved to International Assembly as they are both significant events. Latin American Development and Formation of Leaders have been incorporated into International Leadership.