Contents of the Financial Statements

for the Period Ended 31 December 2024

Profit And Loss Account

for the Period Ended 31 December 2024

Balance sheet

As at 31 December 2024

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents the General Partners Share from Basalt Infrastructure Partners GP Limited.

  Valuation information and policy

  The unlisted investment is stated in accordance with members' valuations which are in line with Level 3 investment valuations.

  Other accounting policies

  Other accounting policies include: - Basis of preparation The financial statements have been prepared on a going concern basis under the historical cost convention, in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards), including Financial Reporting Standard 102 Section 1A: the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland for smaller entities ("FRS 102 Section 1A") and the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (“LLP Regulations”). - Going Concern The Members consider the LLP to be a going concern for at least 12 months from the date of signing of the financial statements due to the minimal costs of the LLP, the General Partner's Share received, and the on-going support from Basalt Infrastructure Partners LLP, the intermediate parent entity, to meet any financial liabilities of the LLP as they fall due. - Taxation Taxation for the LLP, being the individual liability of each Member, is not provided for in the accounts. - Capital Contributions Each of the Members contributed US$500 as a capital contribution in line with the Restated Limited Liability Partnership Agreement. A Member shall not have the right to the return of its capital contribution except upon the liquidation of the LLP. - Distributions All cash or other proceeds or amounts received by the LLP whether of an income or a capital nature shall, after payment of any expenses and liabilities of the LLP and subject to clauses 11.3 and 11.4 of the Restated Limited Liability Partnership Agreement, be: (a) distributed by the Managing Member as soon as practicable following receipt to the Members pro rata to their respective Profit Sharing Percentages as at the time of the corresponding allocation pursuant to clause 10.1 of the Restated Limited Liability Partnership Agreement, until Basalt Infrastructure Partners GP Member Limited has received an amount equal to $13,000 per annum, and thereafter to Basalt Infrastructure Partners GP Limited, or (b) as otherwise agreed in writing between the Members. - Foreign Currency The LLP’s functional and presentational currency is US Dollar ($). - Income Income is recorded for on an accruals basis. - Expenses Expenses are accounted for on an accruals basis. - Financial Instruments Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price and revalued at the period end to reflect fair value. The amount disclosed in the financial statements represents the amount for which the asset could be exchanged between knowledgeable, willing parties in an arm's length transaction which is considered fair value. This is in accordance within the conditions set out in FRS 102 Section 11. All fair value changes in investments are recognised in the Statement of Comprehensive Income. Financial assets are derecognised when the LLP's rights to receive cash flows have extinguished, or the LLP has transferred substantially all the risks and rewards of ownership. Debt instruments are carried at amortised cost, using the effective interest rate method. Debt with no fixed repayment or interest rate is maintained at transaction price. Trade payables are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the liability is extinguished, or the obligation in the contract is discharged, cancelled or expired.

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 2. Employees

  	2024	2023
  Average number of employees during the period	0	0