THE HENOCQ LAW TRUST
ANNUAL REPORT AND
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
Charity Registratlon No. 1167312

THE HENOCQ LAW TRUST
CONTENTS
Paye
REFERENCE AND ADMINISTRATIVE DgfAILS
TRUSTEES, REPORT
INDEPENDENT EXAMINER'S REPORT
srATEMENT OF FINANCIAL AcTIV￿lEs
BALANCE SHEEr
NOTES TO THE FINANCIAL STATEMENTS
9-15

THE HENOCQ LAW TRUST
REFERENCE AND ADMINisfRATIVE D￿AlLs
Charity Number
1167312
Trustees
Deborah Law
Ronald Henocq
Franziska Wllles
Roderlck Smith
Principal Address
92 Webster Road
London
SE16 4DF
Independent Examlners
Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD
Bankers
CAF Bank Limited
io st Brfde Street
London
EC4A 4AD
Sollcltors
Veale Wasbrough Vizards LLP (VWV)
24 King William Street
London
EC4R 9AT
Investment advlsors
Edison Wealth Management
22A St James's Square
London
SWIY 4JH

THE HENOCQ LAW TRUST
TRUSTEES, REPORT
YEAR ENDED 31 DECEMBER 2025
The Trustees of the charity present thelr statutory report together wlth the accounts of The Henocq Law Trust
C'the Trust,) for the year to 31 December 2025.
The accounts have been prepared In accordance with the accounting pollcles set out on pages 9 to 11 of the
attached accounts and comply with the Trusvs Trust Deed, appllcable laws, accountlng standards (United
Klngdom Generally Accepted Accountlng PractiTr) and Accounting and Reporting by Charities.. Statement of
Recommended Practice appIl￿ble to charities preparfng their accounts in accordan￿ wlth the Financial
Reporting Standard applioble in the Unlted Kingdom arKI Republlc of Ireland IFRS 102).
INTRODUCTION
The Trust was established by a Trust Deed dated 21 January 2016 and confirmation of registratlon wlth the
Charity Commi55ion was recelved on 24 May 2016 - Charlty Registration Number 1167312.
The Trust was founded by the settlor Deborah Law and Ronald Henocq, alongslde the other original Trustees
Roderick Srnbth and Franziska Willers, and was establbshed by an initial gift of ten pounds from Deborah Law,
in the year 2016. The Twst dces not actively fundralse and instead has been funded over the year5 by
substantial gifts to the Trust made by the Henocq Law family. The legacy of the Henocq Law Trust is a lasting
trfbute to Peter and Anne Law, the parents of Deborah Law and seeks to contlnue the Char￿able work In
accordance wlth Its objectlves through Ca￿ful stewardshlp of Its existing resources.
AcrIvrriES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES
Activities and specific objectives
The Trust's charitable objective a5 expressed In Its charitable objects is: "Such charftsble purposes (according
to the law of England and Wales) as the Trustees think fit from time to tlme".
The Trust carries Out these objects by fundlng..
Organlsations Idenufied by the Trustees as acuve In the ffeld Df the environment, arts and humanitsrian
need; and
Individual scholarships for educatlon and research in the priority areas.
Savlng the planet, humanitarian needs and arts and culture are fundamentsl to publlc concern and need. The
Trustees have chosen to priorftlse these three areas because the blggest challenges faong humanity today are
environrnental and humanltarian and working towards education and solutions in these areas brings benefit to
humanity as a whole. The art5 play a major role in advanang sustainability arKI therefore the Trust a150 chose
to prloritise this area.
Objectives and activities for the publlc beneflt
The Trust's sole actlvlty Is maklng grants to charitable (xganisatlons, fulllng thelr aim to help people and the
environment they live in.
The Trustees have conflrmed that they have referred to the gUIdan￿ contalned In the Charity Commlsslon's
general guidance on public beneflt when reviewlng the Trust's aims and objectlves, managlng the TnJ5t's assets
and conslderlng applications for finanaal assIstan￿.
The Trustees a￿ in correspondence with all of the organisations that the Trust supports arKI we re￿1ve
individual ￿pOrtS from all recbplents of our grants to ensure that our grants deliver publlc benefit. We ensure
the public benefit 15 met by monitoring the attivities of the recipients of our sUPPOrt.

THE HENOCQ LAW TRUST
TRUSTEES. REPORT (CONTINUED)
YEAR ENDED 31 DECEMBER 2025
AcrIvrriES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (CONTINUED)
Grant maklng policy and aims
The Trust has established its grant maknng pollcy to achieve Its objects for the publlc beneflt to seek a world
which is sustainable for all and to improve the quality of people's lives. In order to award fundlng, the
Trustees carry out research as to which OrganIsa￿On5 and eduCa￿on bcK11e5 have the most Impact.
For example, In a55essing whlch envlronmentsl organlsatlons to SUPPOrt the Envlronmental Funders Ne￿orkS
'Inslghts from UK Environment Sector, report was consulted and used as a gulde. In this report, 92 charltable
organisations conducbng environmental work responded to questions and the report detailed whld) were the
envlronmental organisations accomplishing the most. From this report the Trustees deaded to fund
number of the most effectSve environmentsl organlzatlons induding Greenpeace, Friends of the Earth and the
Royal Society for the Protectlon of Birds.
ACHIEVEMENTS AND PERFORMANCE
During the year to 31 December 2025, the Trust Invested In listed Investments managed by Edlson Wealth
Management.
During the year to 31 De￿mber 2025, a *ries of awards have ￿en made Sup[￿rtIng varylng sizes of
organisations, fulfilling our alms to help people and the environment they live In. These grants are set out In
Note 4.1 to the Account5.
We are very pleased that these grants have been able to help small and large organisations Opera￿ng In the
arts and the protection of the envlronmentft prOmo￿ng human rights and providing humanitsrian aid.
FINANCIAL REVIEW
Results for the year
A summary of the year's results tan be found on page 7 of thls report and accounts.
Incorne amounted to £51,562 (2024.. £33,977. £51,562 was derived from Ilsted Investments and bank Interest
receivable (2024.. £33,977). Expendlture amount to £815,875 (2024.. £812,660). This balan￿ comprised
£40,845 (2024: £42,286) relating to investment manager fees and £775,030 (2024 £770,380) spent on
charltable activities including grants and associated support costs.
The accounts for 2025 show a net decrease In funds of £376,81912024: £450,540) after accoUn￿ng for net
gains on listed investments of £387,494 (2024.. £328,149). The Trusvs listed investments had a market value
of £4,127,800 at 31 December 2025 (2024.. £4,613,645). Cash held by investment managers amounted to
£159,951) (2024.. £55,978) brlnging the to131 value of Investments to £4,287,751 {2024'. £4,669,623).
The total net assets In the balanTr sheet amounted to £4,304,753 (2024: £4,681,572) and the Trusvs fvnds
are unrestrirted.
It 15 confirmed that the Trust's funds and an￿dpated Income for the coming year are adequate to fulfll the
plann& charitable activities of the Trust.
Reserves policy
The Trust has no committed expenditure, overheads or running costs and therefore it is not necessary to
maintain reserves. The Trust does not pledge awards In advan￿ and only allocates monles trom its available
Invested funds.
At 31 December 2023, the free reserves of the Trust amounted to £4,304,753 (2024.. £4,681,572}, whlch the
Trustee5 believe is suffiaent in the above context.

THE HENOCQ LAW TRUST
TRUSTEES. REPORT {CONTINUED)
YEAR ENDED 31 DECEMBER 2025
FINANCIAL REVIEW (CONTINUED)
Investment policy
The Trust's listed investments are managed by Edi￿￿ Wealth Management.
The Trustees alm to make slgnlflcant distributlons In the future vla the CAF cash account usually in t￿0 equal
yearly payments. The amount may vary depending on whether appropriate organlsations and projects can be
found to fund or if irKleed the objectives of the Trust change.
The Trust w111 also make regular payment to RIVA (Resldencies in Vlsual Arts, a charity whose Trustees are also
Trustees of The Henocq Law Trust) to meet the rental cost5 of RIVA'S premises.
The spendlng Fdicy of the Trust15 Something that has evolv8J over tlme. In future, the Trustees may opt to
make larger slngle contributions. In the longer term, the Trustee5 may dedde to embark on a pollcy of 5pendlng
down the capital completely but not for the next ten years.
The investment portfollo should be Invested withln ethlcal con*raints as detailed In the Investment Mandate.
GOVERNANCE, sfRucfvRE AND MANAGEMENT
Appolntment of Trustees and key management personnel
The Tnjst does not have employees andls managed by the founding orlginal Trustee5 who are listed on page
I, with the founding members being responsible for the day-to-day running of the Trust and are considered to
be key management personnel. All Trustees have glven their ￿me freely and no Trustee remuneratlon was
paid in the year.
A new Trustee or new Trustees may be appointed at any time (elther by way of repla￿ment or addition).
Trusiees Serve for three years after which they may put themselves forward for re-appointment. The Trustee
Board shall consist of at least two persons but {unles5 Otherwise determined by the Trustees) there shall te no
maximum number of Trust&s that may be appointed.
A Trustee may be appointed or dlscharged by a resolutlon of a meeUng of the Trustees, provlded that a
memorandum declaring such appointment or dlscharge shall be signed as a deed, either at the meeting by the
person presiding or in some other manner directed by the meeting and afffected by two persons present at the
meeting.
The Trustee5 meet as often as It needs to be effectlve, at least On￿ a year and meetings take place physically
or vla vldeo or telephone conferen￿. Throughout the yearTrustees rernaln In contact and correspond via emall
and telephone. At Trustees, meetings, the Trustees agree the board strategy and areas of activity, Including
consldering grant making, Investment, reserves and rlsk management polldes and performance.
Rlsk management
The Trustees have considered the major rlsk5 to which the Trust Is exposed and have revlewed those rlsk5 arKI
established Systems and prtxedures tr) manage those risks.

THE HENOCQ LAW TRUST
TRusfEES' REPORT (CONT114UED)
YEAR ENDED 31 DECEMBER 2025
Risk management {continued)
The major operat￿nal rlsk is the extent to which our grants SuCc￿SfUl￿ meet the Trusf5 obiecbves. The
Tmsts manage this risk by rdaining Trukn ofsuffjcienl expertise and 5kn11 and gaining thlce Trom ey*rts
in the fie￿ so as tc* engjre thatour grants conlnue to meet our charttsble obiecbve5. TnJ5tee5 are contlnualty
uplated by recipients as to their grant's use ant1 effecb'veness, and any funding is revÈewed on an annual basis.
ststemert of Trust￿, rÈspDnslbllltles
The Trnstees are responsible for preparing theTrustees' re¢￿t and accouftts In accordan￿ with appiKabk law
and United ￿ngd(￿ Accountino Standards (United Kingdom Generalty AC￿pted Accounting PraLticel.
The law applicalleto ChaT￿leS In England znd Wales requires the Trustees to prepa￿ acttsjnts foreach finaKial
year which give a true and fair v￿W of the state of affairs of the TWSL and of the incorning resource5 and
appllcatlon of r￿(￿rCeS of the Trust for that pethjd. In prepartng these accounts, the Tru*ts a￿ wulr8J
sekrt sultaile accounting Olcie5 and then apply them consi5tenlJy".
obseNe the rnethcés and prinapks In AccOun￿ftg and Reporting by Charities.. ststen￿￿t of R￿0Mmend
Practice applicab* to charities p￿parIng the*r aCCOLtnts in accordance with the Hnancfjal RepTht6ng Standard
pplicabk to the United lQngdom and Republic of Ireland IFRS 1021.
make judgements and e5b"mate5 that are reas￿3b[e aThl prudent;
State whetherapplicable United Kingdom aCCo￿nting slandards have been fdlw&l, subiect toany mthrtal
departures disdijsed and exJained ln the accounts: and
prepare the accouftts on the goSng coll￿rn ba>5 unt￿5 it Is inapproprvote to pre9Jme that the Tru￿ will
continue in operation.
The Ttustees are ￿[￿nsible for keeping pr¢per aC￿ntIng records that disclrjse with reagMabte accurary at
any the financial of the Trnsi. and enable them to ensure that the accounts comply with the
ChantTes Act 2011, appficable Charlty 1￿cOUnts and ReFQrts) Regulations an(J the provwns cf the govemlng
docjments. They are also resJKJnSible for saftguarding the a￿etS of the Trug aNI fortswng reasonable
5tep5 for the prevention and detectton of fraud and other irrwJutsrib"es.
PLANS FOR THE FiilliRE
The Hen￿1 Law Tnjst aims to cement relationship5 wlth ￿ recipients rf grants whi* maintslning an open
mind to 5UPPOrt other oryanisations with our chartsble objettNes.
5hJned on behalf of the Tru*s:
Trustee
. Trustee
Ronald Henocq
AppTh& by the Trnstees on.........
2026

THE HENOCQ LAW TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRusfEES OF THE HENOCQ LAW TRusr
I report to the trustees ¢Jn my examination of the accounts of The Henlocq Law Trust (the Charity) for the year
ended 31 De￿mber 2025, which comprbse the Statement of Flnancial Activities, the Balance Sheet and related
note5.
This report is made to the Trustees, as a body, in accordan￿ wlth the terms of my engagement. My work has
been undertaken so that I might carry out an Independent Examlnation of the financlal statement5 In accordan
with the General Dlrections given by the Charity Commissioners. To the fulle* extent permitted by law, I do not
accept or assume responsibility to anyone other than the Charlty and the Charity's Trustees a5 a tK*Jy for my
work or for thls report.
Responsibilities and basis of report
As the tharity trustees of the Charity you are responsible for the preparation of the accounts in accordan￿ wlth
the requbrements of the Charities Att 2011 ('the Act,).
I report in respert of my examination of the Charity's accounts carrled out under sectlon 145 of the 2011 Act
and in carrying out my examination I have followed all applicable Dlrethons given by the Charity Commlsslon
under sectlon 145{5)(b) of the ALt.
Independent examlner's statement
I have completed my examination. I conflrm that no materlal Matte￿ have corlle to my attention In connection
with the examlnation giving me cause to believe that In any material respect..
aCC￿nting records were not kept in re5pert of the Charlty as reqUI￿d by sectlon 130 of the Act,.
or
the accounts do not accord with those records; or
the accounts do not comply wbth the applicable requirements concerning the form and content of
••
accounts set out in the Charities (Accounts and Rewrtsl Regulations 2008 other than any
requirement that the accounts give a true and fair view which is not a matter considered as part
of an Independent examina￿on.
I have no COn￿rn$ and have come acr055 no other matters In connection wlth the examination to whlch attention
should be drawn Sn thls report In order to enable a proper understsndlng of the accounts to be reached,
Greg Stevenson FCA
Knox Cropper LLP
Chartered Accountsnts
65 Leadenhall Street
London EC3A 2AD
L7'BF
2026

THE HENOCQ LAW TRUST
srATEMENT OF FINANCXAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 DECEMBER 2025
unre
2025
Fu
2024
Income from
Donations and grants
Investments, income and interest re￿1vable
51,562
33,977
Totsl income
51,562
33,977
Expenditure on
Raising funds
Investment management fees
Charltable activities
40,845
775,030
42,286
770,380
Totsl expenditure
815,875
812,666
Net expendlture
Gain5lllosses) on Investrnents
1764,313)
387,494
{778,689)
328,149
Net movement in funds
{376,8191
(450,540)
Reconciliation of funds
Fund balarKe5 brought forward
4,681,572
5,132,112
Fund balances carried foThvard
£4,304,753
£4,681,572
The note5 on pages 9 to 15 form part of these finandal statements.
The statement of financlal activities includes all gains and losse5 recognlsed in the perlod.
All Sncome and eXpendI￿re derive from continuing actlvities,

THE HENOCQ LAW TRusr
BALANCE SHE
AS AT 31 DECEMBER 2025
Flxed assets
Investments
4,287,751
4,669,6
Curyent assds
Deblors
Cash at LkHnk and In haThJ
130
21,342
130
16.139
21.472
16,269
Credits)rs: afflounts falling éue
ithin one lear
{4.47D)
(4,320)
Net Cur￿nt Assets
17.002
11,949
Tctsl assets less current Irabili
E4,304,7Y3
£4,681,572
Income funds
Unr&r￿a funds
io
4,304,753
4,681,572
£4,304,753
£4.681,572
pbknl I
The financial statements We￿ apr￿Ved by the Trusts￿ on .....................
2026
De4.￿ L4S
Trustee
Deb)rah Law
Ronald Hen￿0
notes on page5 9 tc$ 15 f¢m ofthese finanobl staten*nts.

THE HENOCQ LAW TRUST
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 31 DECEMBER 2025
ACCOUNTING POLICIES
Charity Information
The Henocq Law Tru51 15 an unincortx)rated Trust. Its principal pla￿ of business is 92 Webster Road,
London, SE16 4DF.
1.1 Accounting convention
The financlal statements have been prepared in accordance with Accounting and Reportlng by Charitles..
ststement of Recommended Practice applicable to Charities preparing their accounts In accordance with
the Financlal Reporting Standard appllcable in the UK and Republic of Ireland {FRS 102) {effective I
January 20191 and the Charities Act 2011. The Charity constitutes a public benefit entity as deflned by
FRS 102.
The financlal staternents have been prepared to glve a 'true and fair, view and have departed from the
charl￿eS (Accounts and Reports) Regulations 2008 only to the extent required to provlde a'true and fair,
view. Thls departure has involved following Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charftles preparing their accounts In accordan￿ with the Flnancial
Reporbng Standard appllcoble in the UK and RÈpubllc of Ireland (FRS 102) issued in October 2019 rather
than the Accounting and Repo￿ng by Charlties: Statement of Recommended Pract1￿ effectlve from I
April 2005 which has since been withdrawn.
The financial statements are prepared In sterlingi wh1ch Is the functlonal currency of the Chadty.
The financlal statements have been prepared under the historical cost conventlon, with items recryJnised
at cost or transaction value unless otherwise stated In the relevant notes to these accounts.
1.2 Golng concern
At the time of approvlng the financlal statements, the Trustees have a reasonable expectstion that the
Charlty has adequate reSoUr￿S to continue in Operati￿al exISten￿ for the foreseeable future. The
Charity Ss not an operatlonal Charity having staff and ovetheads but make5 orants and donadons from Its
investment Income.
The Trustees have assessed whether the use of the going concern assumption Is approprfate In preparing
these a￿oUnt5. The Trustees have made thls assessment in respect to a period of one year from the
date of approval of these accounts.
The Trustees of the Trust have concluded that there are no material Un￿rtaIntleS related to events or
conditions that may cast Significant doubt on the ability of the Trust to continue as a golng concern. The
Trustees are of the opinion that the Trust will have suffiaent resouros to meet its Ilabllitie5 as they fall
due.
1.3 Charitable funds
General ftjnds are unrestricted funds which are available for use at the dlscretion of the Trustees In
furtheran￿ of the general objectives of the Charlty and which have not been deslgnated for other
purposes.
1.4 Income
Income is recognised once the tharbty has entitlement to the income, It Is probable that the Income will
be re￿ived, and the amount of Income recelvable be measured reliably. All income Ss stated gross
of any ex￿ndIture.
Donatlons are recognised when the Trust has confirmation of both the amount and the settlement date.
In the event of donation5 pledged but not recelved, the amount Is acuued for where the receipt is
consldered probable. In the event that the donation Is subjett to conditions that require a level of
performance before the Trust is entided to the funds, the income Is deftrred and not recogni5ed until
either the condition5 are fully met, or the fulfllment of these condition5 are wholly within the control of
the Trust and it Is probable that these conditions wlll be fulfilled in the reporting perlod.

THE HENOCQ LAWTRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
ACCOUNTING POLICIES (CONTINUED)
1.4 Income (continued)
Dividends and dlstributions from investment funds are recognlsed On￿ the div1dendldlstribu￿0n has been
declared and notification has been received of the amount due. Notional distributions which are reinvested
by Investrnent Fund5 which are Accumulation Funds are not taken into account as income because the
di5tribuUon is rK)t received by the Charity. Instead, the reinvested amounts Increase the value of the
Investment Funds and this is reflerted In the realised and unreallsed gains of the Charity. The CharitV5
investment Income and Investment gains are all credited to the same unrestricted reserve and therefore
there is no requirement to separate out the income from the galns in respect of these fund5.
Interest on funds held on deposit is included when receiwable and the amount can be measured reliably
by the Trust,. this is normally upon notification of the interest paid or payable by the bank.
1.5 Expenditure
Expenditure is ￿ognISed once there is a legal or constructive obligatlon to make payment to a third party,
it is probable that settlement will be required and the amount of the obllgation can be measured reliably.
Expendlture comprlses the foll￿ng.
a) Expenditurt on raising funds includes fees pabd to Investment managers In connectlon with advl
on and management of the Trust's listed Investments.
b) Expenditure on charitable activities compri5e5 grants payable. Grants payable are Included in the
Statement of financlal activitbes when approved and when the intended reciplent has either re￿iVed
the funds or been informed of the decision to make the donation and has satisfied all related
condltions. Grants approved and cornmunicated but not paid at the end of the financlal year are
accrued for. Grants where the beneficiary has not been Informed or has to meet certain conditions
before the grant 15 released are not accrued for but are noted as finanaal commitments in the notes
to the accounts.
l expenditure Is stated inclusbve of irrecoverable VAT.
1,6 Allocation of support and governance costs
Support costs represent Indirert charltable expendlture. In order to carry out the primary purposes of the
Trust it is necessary to provide support in the forrn of admlni5trative services.
Governance costs comprise the costs involvlng the publlc accountablllty of the Trust {Including audlt Cl)5ts)
and costs in respect of its Comphlan￿ with regulation and good practi￿.
Support costs and governanTr costs are appO￿oned dlrectly to the one charitable activity.
1.7 Fixed asset investments
Investments are a form of basic financlal instrument and are initially recoyjnised at their transartion value
and subsequenuy measured at thelr fair value as at the balan￿ sheet date using the closing quoted
market pr1￿. The Ststement of Financlal Activlties Includes the net galns and losses arising on di5P05als
durlng the year and fair value adjustments at the year end.
1.8 Taxation
The Henocq Law Trust is a reglstered Charlty and is not Ilable to income or capltal galn5 tsxes on its
present actiwties.
1.9 Debtors
Debtors are recognised at their *ttlement amount, less any prov15ion for non-recoverablllty. Prepayments
are valued at the amount prepaid.
10-

THE HENOCQ LAW TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
ACCOUNTING POLICIES (CONTINUED)
1.10 Cash at bank and In hand and short term deposlts
Trsh at bank and in hand represents such accounts and instruments that are available on demand or have
a maturity of less than three months from the date of acqui51tion. Deposits of more than three month5
but less than one year have been disclosed as short term deposits.
1.11 Credltors
Creditors are recognlsed where the Charity has a present obligatlon resulting from a past event that wlll
probably result in the transfer of fund5 to a thlrd party and the amount due to setue the obllgation be
measured or estimated reliably. Credltors are usually recognised at thelr settlement amount.
1.12 Fund structure
The unrestricted Income fund represents fijnds avallable for the genernl tharitable purposes of the Tru*
at the discreb'on of the Trustees.
1.13 Critical accountlng estimates and areas of Judgement
There are no areas In the accounts requiring the Trustees to make slgnlflcant I￿1geMentS and e￿Mates.
DONATIONS AND GRANTS
2025
2024
Gifted Investments (see Note 51
INVEsfMENTS
2025
2024
Incorne from Ilsted Investments
Bank interest
Brokers interest
44,877
83
27,374
76
£51,562
£33,977
CHARITABLE ACTivrriES
2025
2024
Grants14.1)
Suptx)rt costs14.2)
759,500
755,000
£775,030
£770,380

THE HENOCQ LAW TRUST
NOTES TO THE FINANCIAL sfATEMEiirs
YEAR ENDED 31 DECEMBER 2025
CHARrrABLE ACTIVITIES (CONTINUED)
4.1 Grants payable
2025
2024
Grants during the year comprise..
350 Org (2 payments (2024.. 2 payments))
Britlsh Red Cross Soaety12 payments)
Bug Life
Bumblebee Trust
BUtte￿Y conserva￿On {2024'. 2 payment5)
Cllent Earth12 payments12024'. 2 payments))
CND
Coleman Project Space
Compassionate Revolution (Extlnrtion Rebellion)
12 payments (2024.. 4 payments))
Environment Investigation Agerry (3 payments)
Freedom from Torture
Friends of the Earth (2 payments {2024: 2 payments))
Froglife Trust
GreeNpea￿l2 t￿Yments12024'. 2 payments))
Kew Gardens
Knepp Wildland
London Symphony Orchestra
Mederins San5 Frontieres13 payments {2024'. 2 payments)
Orchestra of the Age of Enllghtenment
People's Trust for ErKlangered Specles
Plantyifr
Resldencies In Visual Arts12 payments (2024.. 3 payments))
Royal Society for the Protethon of Bards
{2 payments12024: 2 payments))
South Downs National Park
SuNival International
Unicef (3 payments {2024'. 2 payments)
Wildfowl and Wedands Trust
Wlldllfe Trusts12 payments)
woodlar￿ Tru5t12024,' 2 payments)
70,000
io,o(10
5,000
5,000
10,000
loo,000
500
8,000
30,000
10,000
5,000
5,000
15,000
I￿,000
10,000
24,000
1,000
loo,000
5,000
70,000
15,000
30,(X)O
15,000
1,000
loo,000
5,000
loo,000
15,000
5,000
15,000
30,000
25,000
3,000
5,000
26,000
40,000
25,000
5,000
15,000
40,000
5,000
80,000
21,000
15,000
40,000
20,000
5,000
80,000
15,000
15,000
20,000
£759,500
£755,000
12-

THE HENOCQ LAW TRUST
NOTES TO THE FINANCIAL STATEMETr¥tS
YEAR ENDED 31 DECEMBER 2025
CHARITABLE ACTIVITIES (CONTINUED)
4.2 Supportcosts
The breakdown of support costs and how these are allocated bethen Governance and Charitsble
Attlvlties is shovvn in the table below.
Governance
costs
2025
Charitable
activities
2025
Total
Total
2024
2023
Cost type..
Bank charges
Studio rental costs
IndekEndent Examina￿On fees
60
11,000
11,000
11,000
£4,530
£1 i,O(x)
£15,530
£15,380
TRusfEES AND RELATED PARTY TRANSACTIONS
Durfng the year to 31 December 2023, a Trustee, Deborah Law, donated £1,053,286 to the Charity In the
form of shares to the Trust. No dOna￿onS have been made in the current or preceeding year and there
were no conditions attached to this donation. Studio rent payable to a Trustee, Ronald Henocq, by the
Charlty for the year ended 31 De￿mber 2025 was £11,000 {2024.' £11,000). Durlng the year the Charity
paid grant5 totalllng £15,000 12024.. £26,000) to Residenoes in Visual Arts (RIVAI, a charfty (Charity
Reglstration Number 10967561, of which two of the Trustees, Deborah Law and Ronald Henocqi are also
Trustees of The Henocq Law Trust. Ln accordance with the Charlty's policy, Trustees wlthdraw from
decisions when a confllct of interest arises. No Trustee5 reTrived any remuneratlon or ￿l￿burSeMent of
expenses In elther this year or the prevlous year.
EMPLOYEES
There were no employees during the year or the prevlous year,
13-

THE HENOCQ LAW TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
FIXED ASSET INVESTMENTS
2025
2024
(a) Quoted Investments at Market Value
Cash with Investment Managers
4,127,800
159,951
4,613,645
Totsl Investments
£4,287,751
£4,669,623
{b) Movement in Investments
Market value a5 at l January 2025
Additions
Dlsposals
Investment galnsl(lossesl
4,613,645
3,196,592
(4,069,931)
387,494
5,019,358
2,338,306
(3,072,168)
328,149
Market value at 31 December 2025
£4,127,800
£4,613,645
Cost at 31 DeCeM￿r 2025
£3,764,238
£4,248,356
Quoted Investments wlth more than 50/0 of market value, whlch are considered to be mate￿al.
Aegon Short Dated Cllmate Transition
Amundi MSCI Emerging Markets
M&G European Sustainable Parfs Alllgned Equity
PIMCO GIS Global Bond I Inc
SPDR S&P 500 ucrrs EfF
Stewart Investors Asia Pacific Sustainable B
Pirtet Global Sustainable l ACC
6.56
5.02
5.91
14.87
17.62
7.91
5.90
The carrying amount of flnanclal assets measured at fair value through Income and expenditure wSthln
nvestments is E4,613,645 (2023.. £5,019,358}
DEBTORS
2025
2024
Tax recoverable on iriterest
Transaction tharges due from Investment Manager5
115
15
115
15
£130
£130
14

THE HENOCQ LAW TRusr
NOTES TO THE FINANCIAL sfATEMENTS
YEAR ENDED 31 DECEMBER 2025
CREDThORS: amounts falllng due within one year
2025
2024
Independent Examination fees
4,430
4,320
10. NET ASSEfs BETWEEN FUNDS
Unrestrlcted
Total
2025
Flxed Assets
CUr￿nt Asset5
Current Liabilities
4,287,751
21,472
4,287,751
21,472
£4,304,753
£4,304,753
Unrestrlcted
Total
2024
Flxed Assets
Current Assets
Current Liabillties
4,669,623
16,269
4,669,623
16,269
£4,681,572
£4,681,572
11. TAXATION
The Hell(￿q Law Trust 15 a registered charity arKI is potentially exempt from tsxation in respect of Income
and capltal ga1ns received wlthln the categories covered by Part Il of the Corporation Tax Act 2010 or
Section 256 of the Taxatlon of Chargeable Galns Art 1992 to the extent that sud) Income or gains are
applied to charitable purpose5.
15-