REGISTERED CHARITY NUMBER: 1176455 TRUSTEES, REPORT AND FINANCIAL STA TEMENTS FOR 1.14 F YLAII ENDF.D I I Sl. 1)b.C.kM Ilb:112024 FOR ACTIS Acrs cio Martin and Company 25 St Thomas Str¢¢¢ Winchester Hampshire S023 9HJ 'ris ACTS CIO CONTV.NI'S OF THE FINANCIAL STA'fEMENTS I-.OR-fiib. YLIAR F.NDfi D 31s'r DF.CEMBER 2024 Page Trllitee8' Rep¥rt Independent Ex8mlner's Repurt StAtement of FlrtAnelal Actlvltlei Balance Sheet Iyotcs to thc Flnanclal Statem¢nt8 6 to 10 Detallcd St•t¢m¢NI of Fln4n¢lal Aetlvltleg ACTIS ACI'S CIO I'RUS'fLLIS' IIEP()RT IOR'I'III,: YTr:AR Tr.NDF.D 31s'r DECEMI BF.R 2024 The Iruslees present their report with th¢ financial btateinenls uf the ¢harily for the y¢ai' ended 31 st December 2024. Th¢ Iruslees have adopted th¢ provisions of ALboulliin8 and R¢porting by Charitics.. Staiemenl of Recomnittnd¥d Practice pplicabl¢ lo Lh￿ill¢S prepHrin¥ their aL¢ounts in accordance wilh the FinanLial R¢porting Standard applicable in the UK aiid Kepublii of Iieland {FRS 102) (eftective l JanuaTy 2019), Les>al and adNiinistraliv¢ information sel oul the inforniation page forni$ part of this r¢port. OBJECTIVES AND ACTIVITIES ObJ¥¢tlvL'¥ 4lms The chaiily's obje¥liv¢8 are to adyance such charitable purpose8 (accordin¥ to the law of EnBland at]d Wal¢¥) as Ihc ch4Eily Irll%L¢¢S s¢¢ fil, Publle bentfit -I'he Tru%lee% L(¥nfinn Ihul they have coi)Iplied wilh lh¢ duly in S¢Ltion 17 of Ilie Charities Aci 2011 dnd have iaken dLLuiinl ol. the Charity Lonuni$%iun'& general guidonr¥ on publi¢ bcn¢fit. The benefit lo the publiL ib in the provision ur anls lor., cliai'iidble dLlivilies lir￿Ld to inv¢51ee L(Trmpanies,' paTtner511ips willi ¢liarili¢.% I:, D 3 1ST DECF.MBEII 2024 FINANCIAL RKVIEW PriThclpal funding sources Actis Acts CIO is lunded froin allocations of carry interest tsotn the Acti5 Carry Trubt. This Ti'u%t was established by Aclib LLP 20U8, pari of its objectives being to hold thc carry allo¢aiLon eL￿marked lo pay for ALtis' future Lbliritable aclivities thrtsugh Actis Acts C.'lO. $200,0(Xl was drawn from the 2023 bursary commitmcnt from Acti$ Act8 CIO. Rc5erves piilley The Charity'% policy is to keep expenditure inLludin& the m￿agemen1 and administration costs broudly in line with the income received in the y¢8r. STRUCTURE, COVERNANCE AND MAIYAGEMENT Guverning docUML￿nI The charity W85 C.gtablishcd by constitution os a charitable incorporaled vr¥anisution and reyi¥l¢red al the L'harity Comini.4sion on 22nd Dccember 2017. Recrultment llppointmL4nt of new trustees Th¢ Iru51 Lvnstilulion requires a minimuin of 3 and maxiinum of 9 truslees. New Trustee¥ may be appointed by ihe exisiing Tru51e¢$. R15k mRna%¢Tnent The Tru.%tee8 mect rebyuli¢ rly lo review th¢ Lharily's activiti¢s and th¢ risks lo which 1¢ i.$ exposed and confirm thai ci)nlrol> Arc in placc io IMiligal¢ thvsc risks, RF.bERENCE AND ADMINISTRAI'IVE DETAILS Rellstibred Charity number 1176455 Prlttclpal address 2 More Kiver.$id¢ London SEI 2JT Trustees Pinsley IresignLd 30.1,2024) Jaines Muri'ay Granl Nololie Kolbe Ijrian Chin&ppi Davi CArvalho Mola (Ippointed 28.3.20241 Independent Ex¥mlner David Elarr FCA Martin and Company 25 Sl Thomas Street Winch¢ster Hainpsliire S023 9HJ and signcd on its bchalf by: Brian Chinappi - Trustee Page 2 INDEPENDELNT EXAMIPIER'S RF,PQRT TO THE TRUSTLES OF Acfis ACTS CI() Independent examiner's report to the *rustee$ uf Act15 Act5 CIO report to the Ch￿'itY trustee5 on my exaniinalion of the accounis o( ALtis ALts CIO (the TnLsI) for th¢ year ¢nd¢d 31 st De¢¢niber 2024. Responsiblllllts and bA515 of report As ihe Lharity Irvsl¢e% ot. Ihr Trust you are responsible foi. the preparttlion of the acLounls aLLurd8nc¢ with the requirrinenls of the Charities Act 2011 I'the ALt'). i'epori in i'¢spect of my ex￿lA￿lion orth¢ Tnist'¥ accounts carried out under Seeiion 145 of the Act and in carrying out Iny ex￿illaIl0n I have followed all applicdble Directions given by iht Charity Commission under Soction 145(5){b) of the ALI. IiidL'pL4nd¥nt examlTher'$ ￿t￿ti,￿¥￿t I hdvi ¢L)tnplL'lid my examinaiion. I confirm Ihal no material mallcrs have come io my aii¢nlion in conn¢¢tion with thc exainindlion ¥iving me ¢au%¢ lo b¢lieve that in Any niatei-ial r¢sp¢¢i'. accounting L'ecord% were noi kcpl in respect of the Trust ag required by Se¢liun 130 of the A¢l', or the aLeL)unls do not accord with tho.se leLords' or Ihc ai¢i)unls do nol Lomply with the &pplicable reqiiireincnt8 conLeminu the ltimj and Lont¢nt of Bccounls s¢1 oul in the CharilivN IAL¢ounl% ond Ilepoi'l.8) Regulaliun.% 2008 oiheT Ilian Jny requir¢in¢nt that llie aLLounts give a t11J¥ and fair vi¢w which is nul u nidtler considered #5 p4rt (Trt an independcnt ¢￿in1nallon. I have no concern% und have ¢oine across no uiher matters in eonneclion with ihe exaDiinalion lo which atlention should bL druwn iii this retX)rt in 01￿¢r (o enablL a pr(>per understanding vf th¢ 4ccounls lo be reached. David Barr FCA Martin aiid Con)pany 25 Si Thonia8 Sireel Win¢h¢si¢r I loinpshire S023 l)HJ Dale: Pag¢ 3 ACTIS ACTS CIO STATF.MF.NT or riNANCIAL ACTIVITIE. FOR TH￿. YFAIKII ENI)I:. D 31ST DECLMBF.R 2024 2024 Unrtstrlctsd fund 2023 Total funds Notes INCOME AND KNDOWMEN13 FROM Donati(Ins and legaLies 160,876 Investment income 4,463 Total 4,463 160.876 EXPENDITURE ON Ch*rltable activltles Charitable fundirt 234,654 138,241 NET INCOMEI(EXPENDITURE) (230,191) 22,635 REC.ONCILIATION OF FUNDS TolAI fund$ brought fotward 273,877 251,242 TOTAL FUIYDS CARIUED FORWARD 43,686 273,877 The notes forni part of these financial sLat¢ment5 Page 4 ACTIS ACTS CIO BALANCE.8HEET 31ST DECEMBER 21124 2024 Unrestrlcted fund 2023 Total funds Notes CURREf4T ASSETS Cash at bank 213,4911 287,793 CREDITORS Amounts falling due within one year (169,804) (13,916) NET CVRRENT ASSETS 43,686 273,877 TOTAL ASSETS LESS CURRENT LIABILITJES 43.686 273,877 NET ASSETS 43,686 273,877 FUNDS Unr¢slri¢i¢d funds 10 4.1,6116 273,877 TOTAL FUNDS 43.611(Tr 273,877 The fin&n¢iAI 514temenls were approved by the Board of Truste¢s and auihorised for I￿￿¢ 4 . ,.,,.., And w¢r¢ signed on it¥ behalfby.. on Brian Chinappi - Trwtee The noies fom) part of th¢8¢ finon¢i81 $tat¢m¢nts Page 5 ACTIS ACTS CIO NOTF.S TO TIIE FINANCIAL STATEMENTS roR TIIE YF.AR ENDb.D 31ST DECEMBER 2U24 STATUTORY INFORMATior4 Actis Acts Cl() is a charity re￿Stered in England and Wale5. The charity's rcgistered nuinber and ]rgistered address can be found in Ihc Trustees, Report. ACCOUNTIIYG POLICIES BASIS uf prepariiiky the financial statements I'he finanLial siaicmtnlb ol- Ihe Lharity, which is a publiL bcnelil eniily under FR8 102, hav¢ been pr¢i)ared in dc¥ordan¢e with ilie Chai'iti¢s SORP IFRS 1021 'ALLounlinu and RLporliiib by Charitic.%." Staleminl of ReLommended Pra¢liLe dppIiLable lo Lhiiritie¥ prep￿ing Ihcir aLLULinls in &lCCOTdance wilh the FinaiiLial Rep()rlin¥ Standard appliLable in the UK and REpul)IiL ol. Irel(Ind {bRS 102) leftecliv¢ l Janiillry 2019),, Financial Repoflinb SiJndard 102 'Thc FindnLial Reporling Siandurd dppliLable in Ihe UK dnd Republic of Ireland, und the ChAritics Act 2011. The firtancial sl&ieinents hmve been prepai'ed uiid¢r th¢ hisluri¢al oosl Convention. 1.hc financial slolemLnl4 have heen prcparcd io give a 'lruL &Lnd fair, vicw and have deparlLd fvoiii the Chdriiies IAL¢ount¥ and Rcportsl RL¥ulalions 21108 only l(> thc exl¢nl r¢quiTed to PTovide A 'irue &nd fair, view. Tliis depai1ure hd% il)volved fnllowing A¢¢uunling Hnd RcEx)iiing by Chariiie.s preparing theii. uLcounls in accorduiice with Ilie FinAnLial Rcponing Standard applicabl¢ in Ilie UK and Republic of Ireland (FRS11121 issued in Ociobcr 2019 rather Ilian thL A¢couiilin¥ and Rcporiinui by fhariiie%.' 8ialLin¢nl of Recomin¢ndeil praeticc Lffeciivc troin I bl April 2005 whicl) l)a8 %in¢c b¢en wiihdraMm, The trustee5 consider thil ih¢re li'e no Inaiei'i&l uncertainlie$ ahoul Ihc l.'harity'8 ability Iu Lonlinue a¥ g gi)in8 ¢onccrn. IneomLb All in¢¢)m¢ is r¢¢¢)wii%Ld in the Siaieinenl L)I' FinThncial A¥iivitie¥ unLe the charily ha.% enliileineni 10 Ille funds, il 1.% probuble that Ilic in¢onie will he rcLLived and ilie aniounl can b¥ iiicasured I'eliiibly, I xpLndlture Lillbilities ore recognised a5 expcnditure ws as there 1$ a legal or conslruLtive obli¥ali(In committin¥ Ihc chuTily 10 thoi eAp¢ndiiure, il is prububle Ihal a Iransfer of e¢()noiiiii b¢n¢fits will be required in %etileineiii diid Ihe amount of thc obligatioii Can bc In¢a8ured r¢ll￿bly. ExpLnditurc is aceounied for on dl) LILcru&ls basi% and has been classified undLr headin&s that aggrcgal¢ all co%1 reluted io the LaiLgary. Where cost% Lannol be direiily atlribuled IL) parli¢ulor h¢odinBS ihey hAvc becn ollocaled to octivitie5 on o bi818 con5i8tenl wilh ihe use of resoui'ces. Grants Dffercd subj￿1 lo canditions which have not been mcl al Ihc ycar end dale are no¢ed a5 a comniilm¢nl bul nol accrv¢d &.5 expendilure. TAxAtiun The chariLy is exempt from thx on its charitable aLlivilies. Fund *CLOUlltlttg All funds hLld by the charity 8r¢ unre$tricled Lieneral funds whicli can be used in ULcordance with Il)e charitable bjective$ ai the diseretion of the Trustees. Foreign eurreneies Assels and liabilitlc8 in foreign currcnLie5 &rc translated into st¢rlingi at thL rates of cxcl)ange ruling al the balartcc sheet date. Transaction8 in foreign ciirrcncics are (r&nslated inio sierlinb) at tliL avcrabic ratL of LxcI)ange for the ycar. Exchange diffcrcncc.% ore included in thc Statcmcnt of Financial Activities. Thc exchange rate at 31 si Dcc¢mb¢r 2024 wa8 US $ 1.254 per £1 {2023'. US $ 1.2735 pcr £ l). Thc average exchangc ratc for the ycar w&$ USS 1.2787 per £1 (202.3.. US S 1.2432 per £1 l. Page 6 continiied.-. ACTIS ACTS CIO N()'I'ES TU TIIF. FINANCIAL STATEMENTS - contlnu¢d -,OR TFIF. Yfi AR ENDED 31ST DECEMBER 2024 INVESTMENT INCOME 21124 2023 Deposit account int¢r¢st 4,463 CHARITABLE ACTIVITIES COSTS fuiiding? (If Support CO8ls (see noie 6) {5ce nole 5} Totals Ch&rituble funding 2Ug.140 25,514 234,654 GRANTS PAYABLE 2024 2023 Charithble lunding 2119.140 113,417 The lotsl wants approved in the year were as follow8.. 31.12.24 31.12.2023 Serena En¢r¥ia Ulug Bnerji Dagitim v¢ P¢rakend¢ Salis Hi£metleri Anonim Sirkeli Eii)Ir8tes Di5tTicI Coolin¥ LLC EVM knergia Del Valle d¢ Mexico G¢neTador Mi Vida Thika Ruad Limited Yellow Door Ener8y Tobene Power S.A. R4Lk Centre Limiied 40,579 54,743 39,lUZ 43,013 41,623 40,219 41,023 -9.921) 209.140 113,417 Page 7 continued.. ACI'IS ACTS CIO NO'fb:s TO THE FINANCIAI. STATEMF,NT.S- ¢ontiiiued roR 'I'llb. YEAII Tr-NI)I,-D 3 1ST DF.CEMllkR 2024 SUPPORT C08TS Governance Manageinenl Tulals ch￿itable fundin 23,444 2.U70 Suppurt cos(s. inLluded in the abuvt, are aq follows.. M&nHgement 2024 2023 fundiiib Sundric8 PJ'ofe8%ional fees Bank LhJr¥e5 Fureign exLhange differences 67 24.342 452 (J,417) 4,706 425 15,589 23.444 211,720 GiivernAnce costs 21124 Charilabl¢ funding 2023 Total a¢liviti¢s Independcnl exo111ineVs fee8 Legal fees 2,070 2,2¥ 1,824 2.070 4,104 TRUSTEES, RF,MUNERATION AND BENW.FITS There were no trustee8' remun¢r&iion or oih¢T bettetiis for the year ended 31 st Deceinber 2024 nor lor th¢ ycar ended 31 sl December 2023. Trustvi expense8 There were no Irusl¢es' expen￿5 paid for Ihe year ended 31st D¢¢¢inber 2024 nor for the year ended 31 %t December 2023, Page 8 continued... ACTIS ACTS CIO NOT*.S TO TIIF. FINANCIAL STATF.MENI'S - conllnued rc)R'l'IIE YEAR Tr.NDb.D 31ST DECLMBER 21)24 STAFF COSTS Thcrc are no cinployec5 50 consequently Staff costs h3v¢ b¢cn incu2Ted. CREDII'ORS: AMOUNTS FALLILYG DUE WITHIN ONE YEAR 2024 2023 Gi'anl.$ payable Accrued exp¢nses 155,752 14,052 11,936 1,980 169,804 13,916 MOVEMENT IN FUNDS N¢1 movein¢nt in fund¥ Ai 31.12.24 At 1.1.24 Unrestricted funds tiener