ATI Evolution Foundation
Reglstergd Charlty No= 1166515
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31st Decembèr 2021

ATI Evolution Foundation
Trustees Report for the year ended 31st December 2021
The trustees present their report along the finanaal statements of the Foundation for the year to 31st
December 2021. The Foundation is a CIO Icharitsble Incorporated Organisab"onl and is registered with the
Charity Commission for England and Wales wth registered charity number 1166515.
Trustees
Mark Farrington
Efrem Marder
Ekatenna Val88va-Farrinyton
Charles Oliphant
The trustees, as shown above, were appointed by the charitys Consbtution dated 1 April 2016, and
subsequent trustees can be appointed by them. The Foundabon became a registed charity at Charity
Commi55ion on 13 April 2016. All the truslees receive regular updates on the chanty se¢tor.
Prln¢lpal Offl¢•
Flat A, 12 Bolion Gardens
London
SW5 OAL
Bankers
Barclays PIC
1 Churchill Place
Lontlon
E14 5HP
Inv•8tm•nt manag•rs
Hargreaves Lansdown
One College Square South
Anchor Road
Bristol
8S1 5HL
Independ•nt Examlner
Luke Holl
MO0￿ Kingslon Smith LLP
Chartere<l Accountants
Devonshire House
60 Goswell Road
London EC1M 7AD
Oble¢t$ #nd A¢tlvltl•$
ATI Evolution Foundation is a registered charity raising money in support of professionally run NGOS
INongovernmental organisalionl and non-profil organi$alion$ dedi¢aled lo the presewats.on ol Tibetan cullurg
and humanitarian relief in the Himalayan region. Key areas of focus are on NGOS and non-profit
organisalions supports'ng Tibetsn language, Tibetan medicine. Tibeian arts and Tibetan Buddhism.
Str•t•gy for 8¢hi•ving ¢bje¢tives
The Foundation has an objective of building a lasting investment fund that, through intelligent and socially
responsible invests"ng, generates an annual investment relum that provide5 material 5UPPOrt toward the
operating expenses of our benefiriary non-profit OTganisations.
Publle B•nèflt
The Trustees confirm (hat (hey have complied wilh the duty in Sec￿'On 17 of the Charities Act 2011 to have
due regard to the Charity Commission's general guidance on public benefit.
Achlevements, Perfomiance and Flnancial Revlew
The Foundation did not receive any donatsons during 2021 as planned and received a small amount of bank
intèrast and dividénd income in thè yèar of £12.70912020". £3,819). A singlè donation of $999,993 was
received in 2017. The Foundation aims lo build an investrnent portfolio with the intention of giving grants lo
beneficiaries using the interesvdividends earned from the investment fund. Al investments are held with the
investment managers Hargreaves Lansdown.
Page.. 1

ATI Evolution Foundation
Trustees Report for the year ended 31st December 2021
Grant Making Policy
The Foundation strategy for making grants to its list of beneficiaries will not be implemented until the
endowmenl reaches $5 million. Building the endowment to a sufficient size so that annual investment return
targets of 4°A constitute a material granl for our beneficiary organisaiions is an essential tenanl of the
Foundation's long-temi strategy. Once the $5 million endowment hurdle is cleared. the Board of Trustees will
deliber818 annually lo determine percentage alloc8b.ons to our list of beneficiaries. Granb"ng soffle percentage
of the annual distribution pcK)I to all beneficiaries is our over-arching policy. with greater emphasis on
necessity than perfomance. Solvency and consistent Mission Statements are also an important prerequisite.
Investments Policy & Perforniance
The investment policy of the Foundabon is to achieve low volatility. absolute returns, whilst attempting to
maintain the capital value. In addition to a low volatility return profile, the Foundation will also endeavour to
implement a bespoke, socially reswnsible investmènt strategy that reflects the sensibilities of our donor and
beneficiary Community.
The Net Investment Portfolio Pèrfomiance INIPPI is an anntlal measure to ass$$$ the real retum of the
inv8stm8nl portfolio and is defined as 8 p8rcentsge of the sum of nel yearfy gains. investment income
derived from the portfolio and management fees as a proporbonal of the cost of the portfolio. The NIPP for
the year to 31 Decemb8r 2021 was 13.8% compared to 10.4% in the previous year.
Reserves Pollcy
The rtsstrrves policy is intended lo be conservative and provide adequate assurance lo th& Iruslees that ¢h8
charity operates as a going concern al all times. To Ihis end. ATI Evolution Foundation aims to maintain free
reserves (those unrestricted reserves not tied up in fixed assets or risk-based investrnent products) at an
amount of £100,000 lo cover operational costs of the FoundaiK)n for sev&ral years. At year end the charity
held free reserves 01 £245,612, define<l as £53.46612020.. £60,953) hel¢J in bank a¢￿UnIS and £192,146 01
cash held in the investment portfolio.
Rlsk Manag8m•nt
The major risks lo which the Foundation is exposed. as idenlified by the trustees, have been reviewed and
the trustees are satisfied that the processas are in place mitigate those risks.
. There is a risk that the investments will not weld sufficient retums in any one given year to meet the
Foundation's invèstmènt rèturn objectivè o14Q/•. however, this risk 1$ mits'gatèd by targeting distributions in
line with 8 long ltrm aver8ge of invesimenl relums. Surpluses wll btr retained in ovtrr-perfom8n¢e years,
which can then be used lo smooth distributions in underyrformance years.
Kèy manag•mènt and r•mun•ratlon polley
The trustees are not remunerated and the Foundalion has no employees.
Appointm•nt of Trust••$
New trustees may be appointed by the Iruslees. to fill a vacancy or as an additional trustee. Thè Foundats'on
sh811 select appropriate trustees and provide them wtth an inducb.on to acquaint them wrth the goveman¢tr
and policies of the Foundation as well as vthat Is expected ol them in their new Tole. Additional training
andlor information will be provided to the Iruslees on an ongoing basis.
Futur• Plan$
The Foundation ultimately ta￿ts fwe pemianent trx)ard members and is in constant dialogue with
prospe¢tive candidates. The trustees plan to pursue a poli¢y of ¢onts"nuity over th& coming twelvg months,
with no major operational changes forecast for the coming year. due primarily to the Covid-19 pandemic. Al
the appropriate time in the future, the Foundation will pursue a global fundraising campaign to build a lasting
endowment to support its charilable actiwlies. The Foundaiion hopes that its 4-year track record of
successftjl fund management retums, particulady amid such a complex and volatile investment environment,
will enwurage future donors and build trust in our profession81 Capabil￿"e5.
Page 2

ATI Evolution Foundation
Trustees Report for the year ended 31st December 2021
th *1¢ab￿ law and wulations.
apW￿ab1e lawl. ThetinWKi￿ ststwnrt% are k) gi¥* a true aThJ view cl ts slate of affaFrs
ol the Foundab"on ?￿j of ir￿orne aThJ eyKliture ofts Foundation lor that FEfKYl. In weparing thvse
financ¢d statements, the ￿St88$ a￿ wUlr￿ to:
ObSe￿e 1he mdhc<ls ￿rKap*S in ￿ Charrbes SORP".
departures disdosed and ewAained in the linaroal statemerrts".
prepare the ffinar￿1 statements on Ihe gOiNJ 0)r￿ern basi5 it KS ItMPF￿oprth kn presume that
the Fou￿a￿On wll conlinue in tr￿.
The trustees a￿ reSpons￿￿e tr keepiF¥J woper accI)unti￿ r￿x)rI￿* that th"￿e with re&8onablè a￿UraCY
* anytHMethe fin￿￿•al ￿)sr￿n of the F¢XJThJalK￿ aThJ enaile t1￿ 10 Ihat the statements
comply W￿th the Chanires Aci 2r111. Try are alg) resp￿th for saf&JLwdirg a￿ets ol the FOundat￿n
22
22
Page. 3

Independent Examinerfs Report to the Trustees of
ATI Evolution Foundation
I report lo the Iruslees on my examination of the accounts of the ATI Evolution Foundation (the
Foundalionl for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity tnjstees of the Foundation you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 {'Ihe Acl'}.
I report in respect of my examination of Ihe Foundation's accounts carried out under section 145 of the
2011 Act and in carrying out my ex8min81ion I have followed all tt)e applicable Directions given by the
Charity Commission ijnder sects'on 14515llbl of the Act.
Independent èxamlner's statèment
I have completed my examination. I confimi that no material matters have come to my attention in
¢onnection wlh the examination giving me ¢ause lo believe that in any material respect..
1. accounting records were not kept in respect of the Foundab'on as required by section 130 of the
Act., or
2. the accounts do not accord with those records: or
3. the accounts do not comply wrth the applicable requirements conceming the form and conlenl of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'lrue and fair wew which is not a matter considered as part of
an independent examination.
I have no concerns and have come across no other matters in connection wth the examination lo
which attention should be drawn in this report in order lo enable a proper undefstanding of the accounts
to be reached.
Luke Holt, FCA
Independent Examiner
For and on behaw of Moore Kingston Smith LLP
Devonshire House
60 Goswell Road
London
EC1M 7AD
Date.. 3 May 2022
Page.. 4

ATI Evolution Foundation
ststement of Financial Activities
For the year ended 31st December 2021
31 Oecember
2021
31 December
2020
Not•
Income from..
Investment income
12,709
12,709
3,819
3,819
Total
ExpendSture on:
Raising funds..
Investment management costs
Charitable Activilies..
Ch8rit8ble acbvilies in furlherance
of objects
18931
11,6531
111,6991
18,8621
Net gains on investments
10
108,023
74,018
unrealised gain on fair value of intsngible 8ssel 9
1,479
Totsl
96,910
63,503
Losses on foreign exchange
121 $1
11,1621
Not mov•m•nt In lund$
109,404
66,160
Total funds brought fonvard
758,758
692,598
Totsl funds carrl•d forward
868,162
758,758
All income and expenditure was Un￿sIn¢ted in the ¢urrenl 8nd preceding year.
Th8 notes on pagas 7 to 10 fom part of thè ffinanaal statèmènts.
Pag8'. 5

ATI Evolution Foundation
Balance Sheet as at 31st December 2021
20X)
2020
21.1W2
10
697.805
Cath at bank
Creditor$: Amounts lalllTrJ knwilhln
11
48.510
.9S3
868.162
758.758
Totsl Net A8aDts
868.162
758.75B
.162
758,758
Th• rthes pw 7 to 10 frym partcrf ￿ fin8fMX81 *atefflerrts.
aThJ signod on its bglwlf by..
Page.. 6

ATI Evolution Foundation
Notes to the Accounts
For the year ended 31st December 2021
Accauntlng pollel8s
Basis of accounting
The financial statements have been prepared on a going concem basis under the historical cost convention
modified for the investmenis which are accounled for at markel value.
The financial statements have been prepared in accordance with ihe Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021. The Foundatson is a public benefit entity for the
purposès of FRS 102 and thèrèfore th& FOundat￿n also prepareil its finan¢ial statèments in ac¢ordan¢e
with the Slalement of Recommended Pracb"ce applicable lo charitses preparing their accounts in 8ccordance
with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IThe FRS 102 Charities
SORPI and the Charities Act 2011.
The financial statements are prepared in sterfing, vthich is the funct•)nal currency of the company. Monetary
amounts in these financial ststements are rounded to the nearest pound.
The principle accounting policies adopted in the preparation of the financial statements are set out below.
Golng Con¢orn Basls
Thase financial stalemènls hava been prepared on the basis of accounting principlès applicable to a going
concem, vh)i¢h assume that the chaiity wll continue in operation lor a period ol al least one year from the
dale of approval of the financial sl8lemenls. The TTU5tees have concluded that there 15 a reasonable
expectation that the Charity has adequate resources to conbnue in operational existence for the foreseeable
future.
Income
Income 1$ credited lo the Slalemenl of Financial Activibes on an accruals basis when the￿ is enlillement lo
the funds, the receipt is probable and the amount can be measured reliably. Where income is received in
advance ol meeting any perfomiance-related conditions there is not unconditional ents'tlement to the income
8nd its recognition is deferred and in¢lu¢Je<l in ¢redi¢ors as ¢Jefvrred income until the p$rformancg-relaled
ndilions are mel.
Expènd6tur¢
Expenditure is included in the Ststemenl of Financial Activities on an accruals basi5, inclusive of any VAT
which cannot be recovered. Expenditure is recognised once there is legal or constructive obligation to
transfer economic benefit to a third party, it is probable thal a transfer of economic benefits will be required
in setdemgnt and the amount of thg obl￿atIon can bg mgasured reliably.
Grants for specific purposes relate lo transfers made lo recipient organis8tions for the purposes of
charitable acts'vities.
Support costs are those incurred in the adminislration of ihe charity and are primarily associated wrth the
constitutional and statulory requirements.
Costs of raising funds are those inujrred in the exiemal management of ihe charities cash and investment
portfolio.
Page.. 7

ATI Evolution Foundation
Notes to the Accounts
For the year ended 31st December 2021
Accounting policie5 Icontinuedl
Forèlgn eurr•nel•s
Transactions denominated in foreign currencies a￿ translaied into Sterling at the exchange rate ruling at
the date of the transactions. Assets and liabilib.es in foreign ¢urren¢ies are translated into Sterfing at the
rates of exchange ruling at the end of the financial pwod. All exchange differences 8r8 dealt with in the
Statement of Financial Activities.
Intangible fixed assets
Intangible 85S8ts 8cquired separately Irom 8 business are recognised al c0518niJ are subsequently
measured at fair value at the year end.
Investments
Investments are include(l in the accounts at market value. Realised and unre81i5ed gains and losses on
investments are included within the funds and are recwnised in the Statemenl of FinancAal Activities.
Cash and Cash Equivalents
C8sh and cash equivalents include cash 81 banks arhy in hand and short tem) deposits with 8 maturity dale
of three months or less.
Grant$ payabl¢
Conlraclu818rrangements are recognised as goods and services are supplied. Other grant payments are
recognised when a constructive obligation arises.
Flnanclal Instruments
The Foundation has elected to apply the provisions of Seclion 11 '8asic Financial Instruments, ol FRS 102
to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when
the company becomgs paty to the contractual provisions of the instrumgnt. Financial as$gts and liabilities
are offset, with the nel amounts presentèd in the financi81 stslemènts. when there is a lègally enforceable
right to sel off the recognised arnounls and Ihere 15 an inlention to settle on a net basis or to realise the
asset and settle the liability simultaneously.
Crltlcal aeeountlng •stlmat•8 and ar•as of ludg•m•nt
In the view of the trustees in applying the accounting policies adopled, no critical accounting eslimates and
judgements wère requirèd that have a significant effect on the amounts recognised in the financial
slalements nor do any estimates or assumpts.ons m￿e cany a signfficant risk of material 8djuslmgnl in th8
next financial vear.
Inv•stmènt Incom•
2021
2020
Dividend income
Bank interest
12,708
3,773
46
12,709
3,819
Page.. 8

ATI Evolution Foundation
Notes to the Accounts
For the year ended 31st December 2021
3 Grants and donations payable in furtherance of objects
2021
2020
Support costs Isee note 8}
11.699
8.862
4 Movement in funds
This is stated after..
2021
2020
Independent examinels fee
for th8 current year
2.814
2.642
5 Transadion5 Wlth Trustees
No trustee received any remunerati¢)n for services as a InJstee12020-. £Nill. tw)r any reimbursèment ol
expendilure12020.. £Nill.
6 Employ••8
The ¢harity has no employees in the current or preceiling ye8r. The Iruslees of the charity arg
considered lo be the key fflanagemenl personnel.
7 Fund Accountlng
The unrestricted fund consists of those funds vknich the Foundation may use in furtherance of its
charitable Obl￿1Ve$ at the discrètion of the trustèès.
8 Support
2021
2020
Independent examin8rfs fees- current peiic¥J lindudiThJ VAT}
Accountancy and relaled costs
Website costs
Bank charges
Comput8r running costs
2.814
2.142
3.972
1.071
1.7¢)0
2,642
1.960
2,500
59
1.701
11,699
8,862
9 Intanglbl• fixed assets
Cryptocurrèncy
Total
Cost
Al 1 January 2021
Additions
Disposals
Revaluation gainl Ilossl
19.713
19,713
1.479
1,479
At 31 December 2021
21,192
21,192
CarrySng Amount
Al 31 De￿mber 2021
At 1 January 2021
Pag8'. 9

ATI Evolution Foundation
Notes to the Accounts
For the year ended 31st December 2021
10 Inve5tm8nt5
2021
2020
Llsted Investments
Market V81u8 as at 31 December
Additions
Dispos81 proce8ds
Net gainslllossesl
Market Value at 31 December
500,647
1.636.437
11,638,794)
108.023
606,314
442,949
2.479.016
12.495,3361
74.018
500.647
Add cash held in inv8$trnent portfolKJ
192,146
197,158
Totsl value ol investments at 31 Dec8mber
798.460
697.805
Historical Cost of inv6stm6nls lexdudiThJ cash held within the portfolio)
680.932
532.449
All of the Found8tK)n's investments ar8 lisled on the London Siock Exthange.
At 31sl Decernber 2021 the following investmenl holdings repr&8ent more than 5% of the portfolio..
Hlstorfcal
cost
116,364
104,982
100,003
217,090
72.501
2021 Markot
Valug
91,583
93,046
97.931
205,389
59.115
Rio Tinlo plc Ordinary 10p
Invesco Markets NASDAQ 81Jtech UCITS
ishares 111 FTSE Gilts UK 0-5 GBP
1252
Gold 8ullitsn Securit18S
ITM Power plc Ordinary 5p Shares
Hlstorbcal
2020 Markot
Valug
98.185
102,617
99.820
99,885
100.140
L&G Future Wodd ESG Developed Index (Accl
Royal London Ethical Bond Ilncl @ 0800
iShares111 FTSE Gilts UK O-S GBP @ 1252
iShar8s (Blackrock 8SSèt managamènti
Gold Bullion Securities
132,192
100,000
100.003
100,340
99,915
11 Cr•dltors: Amounts falllng du• wlthln on• ￿ar
2021
2020
Accruals
4,956
4,602
4,956
4,602
Included in creditors are financial inslruments of £4.956 {2020'. £4.6021.
12 Related party transactions
There were no related party transaclions in the yearix pr8ceding year.
13 Financial and eapital commitsn•nts
The Foundath)n has no outstanding financial or caprtal o)mmitrnenb12020'. £Nill.
Page.. 10