THE HENOCQ LAW TRUST
ANNUAL REPORT AND
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Charfty Reglstrntlon No. 1167312

THE HENOCQ LAW TRusr
Co￿EpIr5
Page
REFERENCE AND ADMINisfKATNE D￿AlLs
TRUSfEES' REPORT
AUDET REPORT
ATEMEW OF FINANCIAL ACllVrnES
BALANCE SHE
io
CASHFLOW ￿ATEME
li
NOTES TO THE FINANCIAL sfATEMEKrs
12-18

THE HENOCQ LAW TRusr
REFERENCE AND ADMINI￿RATIvE DETAILS
Chaiity Number
1167312
Trustees
Del￿ah Law
RC￿ld Her(
Franziska Willes
R¢)Jerid( Smith
Prlncipal Address
92 Webster Rood
London
SE16 4DF
Auditors
Knox Croprer LLP
65 Leadenhall Street
London
EC3A 2AD
Bankers
CAF Bank knmited
10 St Brtde Street
London
EC4A 4AD
Solldto
Brecher LLP
4th Aoor
64 North Row
Lond
WIK 7DA
Investment advlsors
Edi50n Wealth Management
22A St James's 94uare
LorKlon
SWIY 4JH

THE HENOCQ LAW TRusr
TRUSTEES, REPORT
YEAR ENDED 31 DECEMBER 2023
The Trustees of charity we￿t ststutory reF*Jt tc4Jether the accounts of The Henow Law Trust
C'the Trusv? for the year to 31 Decemter 2023.
The accounts have tEen wepared in accordan￿ with the accountirvj w)licies set out on pages 12 to 14 of the
attachd ac(x)unts and CoM￿Y with the Trusvs Twst De￿, appliCa￿e laws, accounting standards (United
"ngdom Generally At￿pted Accountirrfj Practice) aThJ Accountsng and Retx)rbng by Charltles.. Statement of
Recommended Prartice awlicable to Chariti￿ preFh3rirKJ their accounts in accordan￿ with the Financlal
Re￿rtIng StaThYard applicable in the unit￿ kn"ngth)m Republic of Ireland (FRS 102).
INTRODucfioN
The Trust wa5 establ1s￿ by a Trust Deed dat￿[ 21 January 2016 and ccffifimiatlon of reglstrauon w¢th the
Charity Commis5K)n wa5 r&eived 24 May 2016- Charity Registrat￿ Number 1167312.
The Trust was fouThJ8J ty the setuor Detxjrah Law arKI Ronald HerKxq, aloryskle the other orlglnal Trustees
Rcxjerick Smith and Franziskh Willets, and was estsblished by an initial gift of ten Found5 from De￿ah LAW,
in the year 2016. The Trust (ts not acknvely fundraise and instead has funded over the years by
substanllal gifts to the Trust ma¢k by the HencKq Law family. The legacy of the Hen{￿Q Law Trust is a lasting
tribute to Peter arKI Anne Law, the parents of DeLKJrah Law and seek5 to ccffltinue the charitable work In
accordarKe ￿th its objectives through careful stewardship of its exlsting res￿rCeS.
ACTNMES, speciFIC OBJEcfIvES AND RELEVANT POLICIES
Actlvltles and speclflc ¢)bjectlves
The Trust's charitable objective as eXpre￿d In Its d￿ritat￿e objects Is: "Such charitsble purp)ses {accordlng
to the kiw of ErrfJlaThJ and Wale5) a5 the Trustees think fit from time to b'me".
The Trust carfes out th￿ objects ty fundlng:
Oigani5ation5 Identlfied ty the TrLtstees as actfve In the flekj of the en¥ArC￿Ment, arts and humanltadan
need,. and
Indivldual sdK)larshlF6 for ojucatlon researth In the pri(¥lty afeas.
Saving the ￿anet, humanltsrian needs and arts aThJ ojlture are fundamentsl to putAic cotxem and ne&Y. The
Tnjstees have chosen to wiorttise these three areas the kn"g￿ chalknges facing humanity today are
environmentsl and humanitarian and workn'ng towards education and solutior¢s in these areas brings benefit to
humanity as a whole. The arts play a major role In afvarKiTrJ sUStaina￿lIty ar￿ therefore the Trust alx) chose
to prioritise thi5 area.
Objertlves and activitles lor the publk benefft
The Trust's sole artivity Is maklrKJ grants to (haritsile organi￿tions, fulllng their alm tr) help Feople and the
environment they live in.
The Trustees have confirm￿1 that they have referred to the guidan￿ contalned In the Char*ty Commlsslon's
general guidance on public trEnefit Wh￿ wewing the Trusys aims aThJ objectives, managing the Trust's assets
considering aFWicati(￿s for (inar￿la1 assiSta￿e.
The Trust￿ are in Corresponden￿ all of the organisations that the Tnjst suppKxts and we receive
individual repL)rts from all redpients of our grants to ensure that wr grants delNer pub11c LEnefit. We ensure
the putlic benefit is met by monikning the acbvits.es of the ￿lpients of our sJprx)rL

THE HENOCQ LAW TRusr
TRUSTEES. REPORT (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
AcfiviTIES SPECIFIC OBJEcfIvES AND RELEVANT POLICIES {CONTINUED)
Grant makin9 policy and aims
The Trust has established its grant maknrYJ p)licy to achieve its objects for the pU￿1C benefit to seek a worfd
which is Sustainable for all a￿j to improve the quality of wples lives. In order to award funding, the
Trustee5 carry wt researth as to whoch organisab￿￿ and aluCa￿On tN)Jie5 have the most Impart.
For example. in a5sesslng which environmentsl organisations to gjpport the Env¢ronmentsl Funders Networks
'Insights from UK Environment Sertorf re[￿ was c￿sUIted aThJ used as a gui(*. In this reFK)rt 92 charitable
organisats'ons coThJucting enVir￿Mental work respb)nded to qL￿stiOns and the report detalled which were the
environmental (xganisakn"ons accomplishing the nKSt. From this rewrt the Trustees decid&1 to ftjnd a
number of the most effective enVirOnn￿tal Ly9aniZati(*￿ IndL#Jiro Greenpea￿. Friends of the Earth and the
Royal Sc£iety for the Protettion of Birds.
ACHIEVEMENTS AND PERFORMANCE
During the year to 31 De￿mI￿r 2023, Trust Inlestal In Ilstsj Investments managed by Edig)n Wealth
Management. A ￿gnIficant donation of Investments by the TtUStees Wa5 paid into the Trust's investfflent
account.
During the year to 31 D&em￿r 2023, a series of awards have t￿7 made gjpportlng varylng 4zes of
organi5ats'on5, fulfillirg our aims to help rwple the enV1￿ment they live In. These grants are set out In
Note 4. 1 to the Accounts.
We are very pleased that these grants have a￿e to help small arKi large ￿ganISab0ns operatin9 in the
arts and the protection of the envlronment, promots"TrJ human rlghts ar￿ pmMdirYJ humanitsrian aid.
FINANCIAL REVIEW
Results for the year
A summary of the year's rwlts can be ft￿r￿1 on page 9 of thls repcrt a￿1 accounts.
Income amounted to £1,073,811 (2022.. £16,829). of whlch £1,053,286 was derived from donatlons12022:
£Nil) and E20,525 was deriv&1 from listed InveSt￿￿￿ts and bank interest weivable (2022.. £16,829).
Ex￿ndItUre an￿Unt to £668,529 (2022: £606,042). This balan￿ compn.sed £46,67912022'. £49,641)relating
to Investmert manager fee5 and £621,850 (2022 £556.401) ¥tnt on charitable artivities including grants and
assoclated suppyt costs.
The accounts for 2023 show a net increase in funds of £768,220 (2022.. d￿ase of £1,249,689} after
accounting for net gains on Ilst&l investments of £362,938 (2022: losses of £660,476). The Trust's 11sted
Investments had a market value of E5,019,358 at 31 D￿ember 2023 (2022: E4,264,5481. Cash held by
investment managers amounted to £103,415) (2022: £￿,463) tNlnging the total value of Inv&ments to
£5,122,773 {2022.' £4,355,011).
The total net assets in the balance sheet to £5.132,112 {2022: £4,363,892) and the Tnjsts fvnd5
are unrestrictaj.
It Ss confirmed that the Tnjst's funds aThJ anti0pa￿l Income for the comirwJ year are a(Èquate to fulfil tt
planned tharitatrAe acbviues crf the TrusL
Reseryes pollcy
The Trust has rK) Committ￿ eXp￿mY1tUre, overhe•Js or runnlThJ costs arml it Is not necessary to
maintain reseNes. The Trust does not p*dge awards In thaiKe arMI only allwates mcffties from Its available
invested ftjnds.
At 31 December 2023, the free re*rves of the Trust arr￿nted to £5,132,112 (2022.. E4,363.892), whid) the
Trustees believe is sufficient in above contexL

THE HENOCQ LAW TRUST
TRUSTEES. REPORT (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW (CONTINUED)
Investment pollcy
The Trust's listed InvestTh￿ are manag&Y by EdI￿n Wealth Management.
The Trustees aim to make y9nificant distill￿ti0rts in ￿ ftrture via the CAF cash accryjnt Usually in two equal
yearly payments. The amount may vary deF￿[KIllYj on whether appropriate organisatsons and pro1￿ can be
found to fund or if ithd the objectives of the Twst thange.
The Trust will also make regular payment to RIVA (Re￿denCieS In Visval Arts, a tharity whose Trustees are also
Trustee5 of The Hencw Law Trust) to meet the rentrl costs of RIVA'S premises.
The spending policy of the Trust is x•mething that has erfolved over time. In fvtsJ￿, the TNstees may opt to
make larger slngle contributsons. In the lorvJer term, theTru&ees may to embark on o pollcy of *ndlng
down the capitsl completely but fcf the nexi ten year5.
The investment ￿rtfOliO should be Invested wlthin ethical ccnstraints a5 dets11￿1 In ihe Investment Mandate.
GOVERNANCE, sfRvcnJRE AND MANAGEMENT
Appointment of Trustee5 and key management personnel
The Trust does not have emJoyees and Is managed by the founding ￿gInal Trustees who are Ilsted on page
, wlth the fouThJing memters ￿hn9 reswngble for the day-ttrday running of the Trust and are considered to
be key management Fewnnel. ljl Trustee5 have given thelr tlme fr￿Y aTrJ ￿ Trustee remuneraticv) was
paid In the year.
A new Trustee or new Tr￿tee$ nkly te apwnbj at any time (either by way of re[la￿ment or a(All￿on),
Trustees Serve for three years after which they may put themselves forward for re-appoinlment. The Trustee
)ard shall Con￿st of at least two persons t)ut {unless i)therwise detem)iwJ ty the Trustees) there slN411 be no
maximum number of Trustees that may ￿ app(Mnted.
A Trustee may be appinted or dischargay IN a rtr4)IUti￿ of a meetlng of the Trustees, prOvId￿ that
memorandum declaring such ap￿.ntment or dixharge thall be signed as a deed, either at the meets'ng by the
person presiding or in some other manner direrted by the meeb"w and affected by tsyo rErsons present at the
meetlng.
The Trustees rn￿t as often as it needs to be effective, at least Or￿ a year and meeting5 tske Pla￿ physically
or via video or tdephone conference. ThrcxKJhout the yearTrustee5 ￿rna1n in contatt and correstx)nd via email
and telephone. At Tru5tees' ￿￿etir￿j5, the Trustees agree the toard strategy and areas of artivity, includlng
consldering grant mak'Fng. irwestment, reseNes and risk managen￿t polIc￿S and performan￿.
Risk management
The Trustees have constdered the major rtsks to whith the Trustls eX￿Se￿I and have review&1 those rlsks and
estsblished systems and procojures to manage tFx)5e risk

ThE HENOCQ LAW TRiisr
TRusfEES' REPORT (CONTINUED)
YEAR EPIDED 31 DECEMBER 2023
Rlsk managemfjrt (t¢•ntlnued)
The major operational risk is the ex￿ to whlch our grants successfully meet the Trusts objLxtives. The
Trustees markige this risk by retsining TTUStees of AffKient exFertise and skill and gaining advi￿ from experts
in the field $0 as to ensure that our grants cthrytinue to meet our charitsble objedives. Trustees are continually
updated by redpknts as to their granvs Lse and eff￿tIve￿, any fvndlryj Is revi&¥ed on an annual basis.
ststement of Trustees, responslbllltles
The Tnjstees are re5wnsible for preparing the repyjrt and accounts in KCOrdan￿ with applicable law
and United Kingdom Accounting Stsndards (United ￿ngd¢)rn Generally Accepted Accounting Practice).
The law applicaljle to charities in arwj Wales rWUl￿ tre Tnjstees to [ry￿re Kcounts for each financial
year which give a true and fair view of the state of affairs of the Trust and of the incoming resour￿ and
application of reScA1r￿ of the Tn& that FerKKI. In p￿parIrKj these acc(yJnts, the Trustees a￿ re]uired
Sel￿t suitsble acuMJntiThJ Olcies arKI ttr￿ appty ttrthi consistenty:
observe the methods ar￿ prfnoples In AccourtlrKJ arLI ReFK)rt6ng by char￿leS. Strtement of Recommended
Practice applicable to charities preparing their accounts in ￿rdan￿ with the Financial Rep)tting Stsndard
applicable to United Kingdom aThl Rewblic ￿ Ireland (FRS 102);
make Judgements aTrJ estim*s that are rea￿ble aTrJ wud￿.
stste whether athicable Unltsl Kingdom acc¥)untlng stsndards have been followeAI, subJ&t to any m*rlal
departures dixk6ed and explained In the acrounts; a￿1
p￿pare the accounts C￿ the goir¥J concern l>asis unless It ts Inapprowlate to prewme that the Trust wlll
contlnue In operatlon.
The TrnAst￿ are reS￿￿[ble for Wng proper accountlThJ reoyds that dt5dose wlth reasonable accuracy at
any t5me the financial the Trust and enat4e then to ensure that the acccwnts comply with the
Charfties Art 2011, applkable Charity (￿(￿nts aThJ Repjts) Regulation5 afKI the provisions of the governing
d¢xuments. They are also reswnsible for s3feguardirKJ the aS￿ts of the Trust and hen￿ for ts￿n9 reasonable
steps for the pre￿ntIon and det￿tI￿ rf fra￿1 and otr￿r irregular￿e5.
PLANS FOR THE FimiRE
The Henocq Law Trust alms to cement relatI￿￿5p5 the reclpients (rf grants whilst malntslnlng an open
mind to suprort other organisations with our charitsble objective5.
SIgn￿l on behalf of the Trustees:
a(4 L IAJ
Trustee
Deborah Law
R{w￿ld F*r
Approved by the Tnjstees on....... ..... ......... ..............2024

THE HENOCQ LAW TRusr
XNDEPENDENT AUDrroR'S REPORT
TO THE TRusfEES OF THE HENOCQ LAW TRusr
Opinion
We have aL¥lited the fina￿la1 statements of The Hencq Law Tnjst (the 'thaiity? for the year ended 31
December 2023 which comprise the statement of finarKial adivities, the bala[￿ sheet, the statement of cash
flows and notes to the finarrial statements, indudirKJ a summary of significant accwnting kKJlioes. The financial
reporting frarnework that has tttn applied in thw'r preparati(￿ is applicable law and United Kingdom Accounting
Standards, induding Financial Re￿ting Standard 102, Financial Rep)rtirrtJ Standard aFplicable in the UK
and Republic of Irela￿1 (United ￿.n￿ffl Gervally Ac￿pt￿ Accwnting Practre).
In our opinion, the finandal ststements:
give a tnje ènd fair view of the state of d)aritVs affairs as at 31st December 2023 and of Its Incom1Th2
resources and ap￿￿atr"on of resources for the year then ended,.
have tken property prepared in acC￿tsn￿ with Unrted ￿[￿ck)M f*nerally AC￿pted Accountir¥4
Practi￿. and
have been tKeparal In acctythrKe with a)arib'es Art 2011.
Basls for oplnlon
We cO￿uCted our audit in aCCC*dan￿ with lntunat￿naI Standards on Audiling (UK) IISAS (UK}) and applicable
kiw. Our responsibilibes under those stsrKlards are further descri￿ in the ALHJitor's responsibilities for the audit
of the financial statements sethon of our retKsrt. We are Inde￿￿ent of the charity in accordan￿ wlth the
ethical requlrements that are relevant lo our aLMJit of the firkinoal statemwts in the UK induding the FRC's
Ethical Standard, and we have fulfilled our other ethical respNJnsibilib"es in accordan￿ wlth these requirements.
We believe that the aLthJit we have Cthi￿d 15 gjffioent arKI appropnate to provide a basis for our
opinion.
Concluslons relatlng to golng concem
In auditing the financial statements, we have ccrfKluded that the trust￿$, use of the concern basls of
a￿u[l￿.[￿j in the weparalion of the fina￿al ststen￿ts Is appropriate.
Based on the work we have perform8J, we have not identifial any material un￿rtal￿tieS relating to events or
condits'ons tha¢ indiv¢dually or c￿l￿tiV￿Y, may cast slgnificant d￿￿bt on the charity's ability to conllnue as
going concwn for a of at least iwdve months from when the finanaal statements are authorised for
i55ue.
Our restK)ngbilib'es and the reSp)n￿t￿litIeS of the trustee5 respect to golrvj cc4)cem are described In the
relevant sections of this repJrt.
other InfoTmatlon
The other information comprlses the InformatK)n Incl￿ in ihe annual reEKsrt, other than the finandal
statements and cwr audit￿5 reF4Xt thff￿. The trustees are res&KN)￿Lle for the inftThation.
Our opinicfft on the financial statements cte5 rbx c{Tr￿r the othu inftxmatlon and we do not express any fom
of aSsUrar￿e (Dndu90n thweon.
In connertDn with our audit of the financial statements, our restx)nsibility 15 to read the other information and,
in doing 50, con%der whether the other information is materially iFK0n￿Stffflt with the financ￿1 ststements, or
our knowledge obtained in the audit, or otherwise appea￿ to te malerially misstated. If we identify such material
inconsistencies or appa￿nt material misstatements, are reyuired to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have perf￿med, we ((￿Ude that there is a material misststement of this other informafjon, we are
required to rewrt that fact We have rK)thing to reFth in this reganj.

THE HENOCQ LAW TR
INDEPENDENT AUDrroR'S REPORT
TO THE TRu￿EE5 OF THE HENOCQ LAW TRU
Matters on which we are requlred to report by exceptlon
We have nothing to retK)rt in restkrt of the fdlowirKJ matters in relaticfft to whKh the Charities {Accounts and
Reports) Regulations 2008 require us to re￿rt to you if, in our opinion:
the information given in the findnclal gaten￿ts is ir£0nsiste￿t in any material resp￿ with the trusW'
re￿rt,. or
suffldent accounting records have teen keF¢.' or
the finatKial statements are in agreement wilh the accountirvJ records; or
we have not re￿iVed all the inforrnat￿n and exF4anatlons rg]uire for our audlt.
Responslbllltles of trustees
As eX￿ained more fully in the trustees. resp)nslbllltles ststement set out ￿ Foge 4, the tnjstees are responslble
for the preparation of the financial statements and Satisfi￿ that they give a true and falr view, and
for such Internal control as the trustees (kterniine is necessary to enatje p￿paratIOn of finanoal statements
thal are free from matenal mi55tatemen¢ whether dL* to fraud or error,
In preparing the ftnancbal statements, the trustees are res[K$￿ble for asSe￿ng the charty'5 abillty to continue
as a going con￿rn, disclostry, as applicable, matters relatey to going cor(em and ugng the 90ing concem bas15
of accoUn￿n9 unless the trustees elther Intend to Ilquldate the charity or to cease owations, or have no wllstic
alternative but to do so.
Audltor's responslbllltles for the audlt of the flnandal statements
We have been app(inted as auditor under section Iq4 of the Charities Act 2011 and ￿P￿t in aCcOrda￿e wlth
the kt and relevant regulatI￿)S made or haviThJ effect thereurKler.
Our obiertives a￿ to obtsln reasc￿a￿e aSSUrar￿ abjut ihe fIna￿la1 statements as a whde are free
from material mi55tstemenl, whether due to fraLKI iy error, arKI to issue an auditor's report that includes our
opinbon. Reasonable assurance is a h￿h level of aS9Jran￿, but is not a guarantee that an audit conducted In
ccordance with ISAS {UKI will always det￿t a material misststement when it ex15ts. Misststements can arise
from fraud or error and are consi¢kred Mate￿al if, irKJividually or in the aggregate, they could rea￿nablY te
extected to Infll￿nCe the economic decisiors of users tsken on the ba￿5 of these financial statements.
Irregularities, I￿￿dir0 fraud, are InstarKes c* rnTraynFA1an￿ vlth laws aThJ r83ulations. We (*￿gn prO￿dureS
n line with our rest￿SIbilItIes, outllned at￿Ne, to detett mateiial misstatements in re5pert of irregularities,
Including fraud. Tr eXt￿t to which our pr(teOU￿ a￿ capaue ￿ t￿t￿￿"￿4 irregularitie5, inclLKJing traud is
detailed below..
We obtain8J an urnlerstanding of the18Jal aTrY regukitcry framewcffks that ère ap￿ICable to the Cha￿ty a￿1
detemined that the most S￿nificant a￿ the Ststement of Recornmend￿ Prartice'Accounting and Reporting
by Charitr'es. (SORP), in acC[¥dan￿ with the FinarKial Rerth'TrJ Stsndar(l awlicat￿e In the UK (FRS 1021
and the (harities Act 2011.
We how the Charity is comF4wng with those frameworks tommuniration with those
changed with govemance, together with the revieN of the ￿a￿tI5 dOcu[TEnt￿ rK)licies and syoc8Jure&
The Charity 15 required to comply wbth charity law and, ba￿￿ ￿ our knowle(kJe of Its activbties, we
ithntified that the requirements relats'ng to the invesiment of funds was of key significance.

THE HENOCQ LAW TRusr
INDEPENDENf AUDrroR'S REPORT
TO THE TRusfEES OF THE HENOCQ LAW TRusr
Audltorfs responsibllltles for the audit of the flnandal statements (Contlnued)
The audit team, which is experienced in the audit of charitses, considered the Charitys susceptibillty
to material misstatement arKI how fraLbJ may ¢xcur. Our consKlerations included the dsk of
management overrhde of controls.
Our approach was to check that the inccwne frrmn donations were prowly hlentified and accuratsly
disclosed, that expenditu￿ compli&J with the control prcredures and was appropriately charged.
We confimed the movements on the investments and the bank accounts. We also Wbewed journal
adjustsments and unusual transartions for management override and consider&J the identification
and dlsclosure of ￿lat&￿ party transactbns.
The￿ are Inhe￿nt limltstions In the audr( pr￿Ju￿ dexribed aiy)ve and, the further removed non-
Complian￿ with laws and regulations is from the events and (ransactions reflected in the financkl
statements, the le55 likely we woukl ttcome aware of it. The risk of not detecting a materol
mlsststement due to fraud Is hlgher than the r6sk of not detKtirKJ one ￿Ulting from error, as fraud
may involve deliberate cOn￿alment by, for example, for9ery or intent￿1 misrepresentations, or
through collusion.
A further descrlptlon of our ￿￿nsibIlItIeS for the alKI￿ of the finarthl ststeffents 6$ Iccated on the
Flnancial Rep)rting Council's website at: vwhv.frc.ory.uklauditwnslbilltles. Thls description fomis
part of our aLKJitorfs report.
Use of our report
This reFQrt is made solety to the charfvs trustee5, as a ly)ty, In accordance wlth Part 4 of the Charltles
(Accounts and Reports) Regulath)ns 2008. Our aLKif( work has been urKlertaken, 9) that we might state
to the charlty's trustees those matters we are required to stste to them in an auditorfs rep)rt and for
no other purFose. To the fulW extent permitted by law, we do not accept or assume reswnsibility to
anyone other than the charity and the charity's trustees as a t4)dy, for our aLKlit work, for this rerort
or for the opinions we have ft)rml.
Knox Cropper LLP
Chartered Accountsnts and SLitutory
65 Leadenhall Street
London EC3A 2AD
21st OCto￿r 2024
Knox Cropper LLP is elKJible for apwintment as audltor of the tharity by virtue of Its eligibility for
app)intment as auditor of a ccrfnpany U￿￿r sth 1212 of the Companies Act 2(￿.

THE HENOCQ LAW TRiIST
srATEMENT OF FINANCIAL ACTivrriES
INCLUDING INCOME AND EXPENDMIRE ACCOUNT
YEAR ENDED 31 DECEMBER 2023
Un
2023
nds
2022
Income from
Donations and grants
InveStm￿ts, Income arKI interest r￿e1Valle
1,053,286
20,525
16,829
Total income
1,073,811
16,829
Expenditure on
Raislng funds
Investment ffjanagem￿t fees
Charitable artivities
46,679
621,850
49,641
556,401
Total expendlture
668,529
606,042
Net expendlture
(Gainslllosses on investments
405,282
362,938
{589,213)
{660,476)
Net movement In fund5
768,220
{1,249,689)
Reconciliation of funds
Fund balan￿ brought forward
4,363,892
5,613,581
Fund balances catrled fO￿ard
£5,132,112
£4,363,892
The notes on pages 12 to 18 fr)rm tkirt of these finanaal *aterrthts.
The statement of finandal activities all galns and rerognlsoj In the ￿clI.
l income and exFenditure from C￿tinuing acti￿tr"es.

THE HENOCQ LAW TRusr
BALANCE SHEEr
AS AT 31 DECEMBER 2023
Investments
5,122,773
4,355,011
Debtors
Cash at bank and in hand
1729
13.210
13,321
15,939
13,321
Credltors: amounts falliThJ due
wlthin one year
(6,6CKI)
(4,440)
Net Current Assets
9,339
8,881
Total assets less oJrrent1Salx'litles
£5,132,112
£4,363,892
Income funds
Unrestricted fur#Js
io
5.132,112
4,363,892
£5,132,112
£4,363,892
The finandal Statsff￿nts wwe apwoved by tre TnJst*s on . Is
..2024
Oel,
Trustee
Deborah Law
R￿a￿l HerK
The notes on pages 12 to 18 f￿M part d these finarKial statemets.
10-

THE HENOCQ LAW TRUST
STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Net tssh Provided by (used In) Operating Activities
Cash flows from Investing activities:
Dividends and interest from investments
Movement In Investmert Mawer's Cash
Proceeds from sale of investments
Glft of Investments
P￿rChaSe of investments
384,188
{604,2421
20,525
112,952}
3,225,564
(1,053,286)
2,564,150
16,829
21,849
3,970,289
Net cash provided by (used In) Investing actlvldes
{384,299}
459,763
Change In cash and cash equlvalents In the reportlng
perlod
(iii)
(144,4791
Gish and cash equlvalents at t*glnnlrwJ of the reFQrtlng
perlod
13,321
157,800
Cash and equlvalents at the end of the reportlng
perlod
£13,210
£13,321
Recondllatlon of net Incomel(expendlture) to net cash flow from operating •Ctlvltles
2023
2022
Net Incomel(expendlture) tor the reportlng perlod..
(as ststement of financial activities)
(Gains)IL0s5e5 on Investments
Dividends and Interest from inveslments
(Increa5e)Idecrease in debtors
Increaselldecrease) In l￿litorS
768,220
(362,938)
(20,525)
{2,729}
(1.249,689)
660,476
(16,829)
Net cash provlded by (used In) i>peratlng actlvltles
£384,188
£{604,2421
Analysls of changes in net funds
At OII0112023
Cashllows
At 3111212023
Cash at tonk
£13.321
£(iii)
£13,210

THE HENOCQ LAW TRUST
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Charlty Infonnation
The Hencw Law Trust is an unlncorForated T￿￿. Its prindpal of Is 92 Webster Road,
London, SE16 4DF.
1,1 Accountlng convention
The financial staterllents have ￿en prepared in aca)rda[￿e with Accounting and Reporting by Charities..
ststemenl of Recommend&1 Practice appliCa￿e to (fvritie5 weparing ther ac(x)unts in aCcOr¢Jan￿ with
the FinarKial RepK)rting Standard applIG3b￿ in the UK and RepU￿1C of Ireland IFRS 102) leffectbve I
January 2019) and the Ctwrities kt 2011.
The financial ststements have tEen Prepar￿ to give a 'tnJe and fairf view and have departed from the
Charities (Accounts and RewKts) Regulats"ons 2LK)8 only to the extent required to provide a 'true and falr,
vlew. This departure has invdved followirvj AccountiThJ and Re￿rtIng by Charbties: Statement of
Recommended Practice aF¥)licable to charib.es preparing their accounts in accordance with the Financial
Rep)rting Standard applicatAe in the UK arKI Republic of Ireland (FRS 1021 issu￿$ In October 2019 rather
than the Accountsng and Rep)ttsTrJ by Charitr"es: stateM￿t of R￿0MMerI￿8j Prartice effective from I
April 2005 wh￿h has ￿nce been %wthdrawn.
The flnanclal statements are prepared In sterlirrfj, whlch Is the funcuonal currency of the Charity.
The financial ststements have been p￿parts￿ under the historical c05t convent+on, wth items recognlsed
at cost or transactlon valL* unlw otherwise stated in relevant notes to these Kcounts.
1,2 Going concern
Al the time of approving the finandal statements, the Trustees Iwve a reasonable expertatr'on that the
Charity has adequate resources to continue in operational existence for the foreseeable future. The
Charlty is not an Orerab'onal tharity havlNJ stsff and overt￿d5 make5 grants and donauons from its
investment IrKome.
The Trustees have assessed whether the use of the Con￿rn assumption is appropriate in preparing
these accounts. Tr Twstees have made thls assessment in respect to a perfod of one year from the
date of approvol of these acC￿nts.
The Trustees of the Trijsi have condL*Jed that there are maten.al u￿rtain￿'es related to events or
corKlition5 ihat may cast sKJnific3nt (t)ubt on the a￿.Ity of the Trust to continue as a golng concern. The
Tnjstees are of the OrMni￿ that the Trust will have sufficient resources to meet its lialx'lities as they fall
due.
1.3 Charltable funds
General funds are unr￿1C￿ fuNts whith are avallable fLY use at the dlsuetr.on of the Trustees In
furtheratKe of the general obiectwe5 of the Charity arKI whith have not b￿n designat￿ for other
purpDSes.
1.4 Income
Income Is recconbsed 0￿e ttE Charity has to the irKome, It 15 wobat4e that the Income will
be rec￿ved, and the amount of Ir￿oMe recavaLle can be m￿SUred rellabty. All inLume 15 stated gro
of any exFRnditure.
Donations are recognlsed when the Tnrt ha5 confim￿tion of b)th the amunt and the settlement date.
In the event of donations tledged tr￿t not ￿1￿J, the èmount is accrued ￿ where the ￿elpt Is
considered probable. In the event that the ¢k)nation is gjbjert to conditions that require a level of
performance tefore the Trust is entitled to the fvrKJs. the Ir￿ome is deferred and not recognised unts'l
either the conditions are fully me¢ or the fvlfilment of these condits.ons are wholly within the control of
the Trust and it is probable that these cmjiticffts will ￿ futfilled in the ￿pOrting peri(xJ.
12-

THE HENOCQ LAW TRusr
NOTES TO THE FINANCIAL sfATEMEKtS
YEAR ENDED 31 DECEMBER 2023
ACCOiINTING POLICIES (COPMNUED)
1.4 Income (continued)
Dividends and distributr.ons from inVestm￿t fijnds are rÈwnlsed orKe the dividerwdi5tribution has tken
declared and mty'ficat￿n ha5 been r￿1Ved of anw)unt dLE. NOtiC￿al distributions which are ￿inVested
by Investment Funds which are Accumulaticn FurKJs are not taken into account as income because the
distribution is rK>t r￿1Ved by the Charrty. Instead. the reinvested arrK)unts incTease the value of the
Investment Funds and this is reflerted iri the reali*l and unrealised gains of the Charity. The Charity's
investn￿nt income and investment 9ains are all credited to the same unrestricted reserye and therefore
there is m requirement to separate ￿t the income from the gairts in re5peLt of these funds.
Interest on fund5 hekj on dewgt is induded when reCeiVa￿e a￿1 the arrK)unt can be measured rella￿Y
by the Trust,. this is nomially UFon not1f1GIt￿n of the interest paid cw payat￿e by the bank.
1.5 Expenditure
Ex￿ndItUre is recojnlsed ￿ce there Is a legal or constructlve obligafjon to make payment to a thlrd party,
It Is prOba￿e that settlement ￿11 tE repuired and the an¥)unt of the obligation can ￿ measured relbably.
Expendbture comtylses the fc41owing:
a) ExpEnditLFre on ralsirwj funds indudes f&s pèhl to invesfftnt managers In connection with advice
on arKJ management of the Tru￿5 list&1 investments.
bl Ext*nditure on CharIta￿e actwits'e5 ccrfnprise5 grants payable Grants payable are induded In the
statement of finanaal KtNities when appr￿d and when the inten￿1 reopient ha5 either Teceived
the funds or i￿￿ inform& of thasion to make the donatton and has satisfied all related
conditions. Grants approved a￿1 communirated Ixjt not pald at end of the finandal year are
accrued for. Grants where the tsnefioary has tten infom)ed or has to meet certain conditions
before the grant is releas&J are not accrued for but a￿ not&1 as financlal commitments In the notes
to the accounts.
All expeTrJlture Is sta￿1 IT￿￿1ve cl Irreroverat4e VAT.
1.6 Allocatlon of support and governance costs
Suprort Costs represent indiiect Charits￿e exp*nditure. In order to carry out the prlmary puryw of the
Trust it is rtcessary to provide suppwJrt in the form of administrative 5￿ceS.
GovwnarKe cosis COM￿lse the costs Invdwr*J the publlc acC￿n￿Ll11ty of the TnJ5t (Indudlng audit costs)
a￿1 casts In resp*rt of bts (C￿[￿10n￿ with regulallcm and gcoj ￿acti￿.
Supwrt CC6ts and gcwernar￿e co&5 are atpJtlon&J dlrectty to the one charltabfe ath￿ty.
1.7 Flxed asset Investments
Investments are a form of basic finarKlal Instrument and a￿ initially recognlsed at their transaction value
and subsequently measured at th￿r fair value as at the balan￿ sheet date u51ng the c105ing quoted
market prlce. The Statement of FinarKial Acb"wb"es indudes the net gai[￿ arbd l¢)55es arisng on disp)sals
during the year and fair value adjustments at the year end.
1.8 Taxatlon
The Henocq Law Trust is a r831stered ￿arity aThl Is rb)t lialAe tv irKome or capital galns tsxes on Its
present actiwties.
1.9 Debtors
Debtors a￿ rec(gnised at their settlement amounL less any provision for non-recoverats'lity. ￿paYrnents
are valued at ￿ anKwnt wepakl.
13

THE HENOCQ LAW TRusr
NOTES TO THE FINANCIAL STATEMEKts
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (COIMNVED)
1.10 Cash at bank and in hand and short terni deposits
Cash at bank and in hand represents accounts aThJ Instnjments that are available on demand or have
a maturity of less than three months from ￿ date of acquisib'on. DeFK)sits of more than three months
but less than one year have teen di￿k￿￿ 05 thort temi dqx)%'ts.
l. I I Credltors
Credilors are rec(*Jnised where the has a prew)t oblKJation resultirwj frc#n a past event that will
probat￿Y result in the transfer of funds to a third paty and the amount due to settye the otrAigation can be
measured or estimated rdiot￿y. Cr8JitLYS are usually r&L¥JniS￿h at thar settlement an￿nt.
1.12 Fund structure
The unrestrirted irKome fund represents funds avallable for the general charltatde pur￿SeS of the Trust
at the dIScretiL￿ of the Trust*s.
1.13 Crltlcal accountlng estlmates and areas of Jud9ement
There are no areas in the acC￿nts r￿UlrIng the Trustee5 to make 4gnificant J￿gernents arKI estimates.
DONATIONS AND GRANTS
Gtfted Investments {see Note 5)
£1,053,286
INVEsfMENTS
2023
2022
Income from listed Investrrents
Bank interest
okers Interest
15.625
92
4,808
16,056
122
814
163
£20,525
£16,829
CHARITABLE AcfivITIES
2023
2022
Grants (4.1)
Supw)rt C05ts14.2)
604,250
541,120
£621,850
£556,401
14-

THE HENOCQ LAW TRiisr
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 31 DECEMBER 2023
CHARITABLE ACTIVITIES (CONTINUED)
4.1 Grants payable
2023
2022
Grants during the year comprise:
350 Org (2022: 2 payments)
Britr'sh Red Cross knlety
Bug Ljfe
BumbleW Twst
Butterfiy conservat1(￿ {2 toyments (2022: 2 pay￿ts))
Client Earth12 payments (2022.. 2 payments))
Compassionate Revolution (2 paYm￿ts)
Environment Investigatson Agency
Free(kJm fiom TcAture (2022.. 2 paY￿ts)
Friends of Earth12 payments)
Froglife Trust
Global Actson
Greenp￿a￿ (2 payments12022.. 2 paynEnts))
Knepp Wildland12 payments)
London Symphony Orchestra
Matts Gallery
Medeclns Sans Front￿e5
Orchestra of the Age of Enlightenment
People's Trust for Endangered Spkrles
Plantlbfe
ResiderKies In Visual Atts (3 paYm￿ts (2022: 7 payments)
Royal Society of Wildlife
Royal Society for the ProtectKJn of &'rd5 (2022: 2 payments)
South tkiwn5 National Park
SOS Children's Villa
Species Recovwy Trust
SuNival Intemabonal (3 paymwts (2022.. 2 payments))
Unicef
Wildfowl and Wedands TrLtst
Wildlife Trust (2022: 2 payments)
Wocyjland Tnjst
25, 120
5,000
5,000
5,000
14,000
l(KJ,(KJO
5,000
20,000
2,000
10,000
5,000
5,000
100,c()o
5,000
5,000
15,COJ
iOO,(KJO
20,O¢XJ
J5,fD)
75,OCQ
5,000
loo,000
25,000
15,000
1,000
15,000
5,000
25,000
5,000
25,000
3,750
24,5(
15,(
15,000
5,000
50,CKJO
30,000
5,000
5,000
5,000
40,000
5,000
5,000
30,000
120,000
£604,250
£541,120
15

THE HENOCQ LAW TRusr
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
CHARITABLE ACllVmES (CONTINUED)
4.2 Support costs
The breakdown of supw costs and these a￿ all(ta￿l lkn&n (knrnan￿ and tharitsble
Acb'vities is shown in the tabie telow.
Governance
costs
2023
Charltsble
activities
2023
Totsl
Totsl
2023
2022
Cost ty￿.
Bank tharges
Studio rentsl costs
Audit fees
Over provision of accountsry
fees In pr￿ouS year
60
11,000
6,600
160)
81
i 1,000
Ii,CM)O
{60)
£6,6
£ii,(A)J
£17,(￿0
£15,281
TRusfEES AND RELATED PARTY TRANSACTIONS
During year to 31 D￿emter 2023, a Twstee, Detorah Law, ¢knnateJ £1,053,28612022'. £NIII to the
Charity in the form of shares to Twst. There were no conditlons attached to this donation. Studlo
rent payable to a Trvstee. R(￿aId He￿q, by the Charity for the year ended 31 D￿ernber 2023 was
£I1,00012022: £11,000). During the year the Charity paid grants totalling £24,500 {2022: £50,OLXJ) to
Residencies in Vlsual Arts IRIVA), a charity (Charlty Registratr"c￿ Number 10967561, of whlch tr40 of the
Trustees, DetKJrah Law aThJ Ronald Henoo4, are also Trustees of The HerKKq Law Trust. In accordance
with the Charity's pcAlcy. TnJstees witlKlraw from deci5ton5 when a conflirt of interest arlses. No Trustees
received any remuwation CY reiMburseM￿t of expenses in either this year or the txeviou5 year.
EMPLOYEES
There were Tr) emr4oyee5 durirrfj the year ￿ the pre￿Ou$ year.
16-

THE HENOCQ LAW TRiisr
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
FIXED Ass￿ INVESTMErirs
2023
2022
(a) Quoted Investments at Market ValL
Cash with Investment Managers
Total Investments
5,019,358
103 415
4.264,548
E5,122,773
£4,355.011
(b) Movement irb Investments
Market value as at l january 2023
Gifted Investm￿ts
Addittons
Dlsposa15
Investment gainsl(Ic65es)
4.264,548
1,053,286
2,564,150
{3.225,564)
362,938
5,346,109
3,549,204
{3,970,289)
(660,476)
Market value at 31 D￿ember 2023
£5,019,358
£4,264,548
Cost at 31 D￿mber 2023
£4,71X),050
£4,076,195
Quoted InveStr￿ts with n￿re than 5% of ma￿t valtE, whlth a￿ ccffjsldereJJ to be material.
Royal Mint ReS[￿sIt￿ ScKJrc8J Physlcal Gold Erc
Janus Hendemn Global SustsinatAe Equity l Acc
Dlmensional Funds Hc GILthI Su5talnablllty C(Ke Equty FuTrJ
SchrcKier ISF Glotol SustsinatAe Growth
Ninety One Global Environment Fund
M&G Global Susts1na￿e Paris AJign&J
CT UK Soclal Bond I
Responsible UK Equity 2 kc
Royal Sustsinable Lea¢kn TrLtst C Acc
5.98
5.58
5.61
5.62
5.21
5.10
5.07
8.65
10.20
The caryi'ng amount of financlal assets mea5ur&l at fair value thrcrtKJh income and eynditure withln
Investments is £5,019,35812022.' £4,264,548)
DEBTORS
2023
2022
Insurènce due from RIVA
Tax recoverable on interest
Transacti￿ dwrges due from InveStM￿t Mana4vs
514
1,651
564
2,729
17-

THE HENOCQ LAW TRusr
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 31 DECEMBER 2023
CREDITORS: amounts falling due wlthln one year
2023
2022
Audit f￿5
Accountancy fees
6,600
10, NEf ASSEfs BEfwEEN FUNDS
Unrtstrltt¢d
Totsl
2023
xtrj Assets
Current Assets
rrent Uak41ities
5,122,773
15,939
5,122,773
15,939
£5.132,112
E5,132,112
Unrestrlcted
Totsl
2022
Fixed Assets
CurrLy)t Assets
Currwt ￿3￿1¢tIeS
4,355,011
13,321
4,355,011
13,321
£4,363.892
£4,363,892
11. TAXATION
The Her￿q Law Tntst is a rw'stued thartty and is ￿tentiallY exempt from tsxats'on in resFett of I￿oMe
and capitsl gains received wtthin the rate9)￿ coveral ty Part 11 of the Corporation Tax Act 2010 or
Sectbn 256 of the TaxatIC￿ of Chargeat4e Gains kt 1992 to extent that SLKh income or gains are
applied to tharitatAe wrp)ses.
18