HINRICHSEN FOUNDATION CIO
A Charitable Incorporate Organisation
Charity number 1171401
TRUSTEES REPORT AND ANNUAL ACCOUNTS
YEAR ENDED 31 DECEMBER 2023

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
INDEX
Trustee and admini$lr8ttV8 delai15
Report of the Trustees
Independent Examinerfs Report
10
Slalem&nl ol Finan¢ial Activities
11
Balance Shget
12
Notes lo tha Financial Statements
13-15

HINRICHSEN FOUNDATION CIO
Year ended 31 De￿rnber 2023
TRUSTEE AND ADMINISTRATIVE DETAILS
Trust8gs
Dr Ed McKeon ICh8irmanl
Mark BroM￿Y (Vfi￿ Chairman)
Tim Berg
Tabby Esiell
Dr BobbièJane Gard￿r
Eleanor Gus5man (resigned 29 April 20241
Dr Gavin Hwjgins
Dr Linda Hirsl
Dr John Christian Mason
Professor Stephen Walsh
Charlty Numbar
1141701
Princip818nd Adminisiraliv8 Offic8
rjo 14- 15 88m8rs Street
London
W1T 3LJ
Secretary
Dr Angela Slaler
Independent Examiner
Helen 8inns FCA
Beevgr and Slrulhers
Chartered Accountants
One Express
1 George Lelgh Street
Manch8$1or
M4 50L
Bank
CAF Bank
25 Kings Hill Avenue
Kings Hill
Wesl Malling
Kent ME79 4JQ
Sc4icitors
Blandy & Blandy
1 Friar Stragt
Rèading
RG1 1DA

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
REPORT OF THE TRUSTEES
The Trustees present th•"r annual r8pyttogether *ith the fin8nco1 stalemen15 of the Hinri¢h¥8n Foundation
CIO Ilh8 Charity) lor the ye8r ended 31 De¢emb8r 2023.
The Trustees preseni the Annu81 report fin8na81 statements of the Ch8rTty in a(tord8nc8 With the
accounlin9 policies in note 1 and lo compty with tl* Charity's TnJ51 Dee<l. the Charities Acl 2011 and the
ovisions of th8 Statement of Recommended Pwlice ISORPI applicable to charibes preparing Ih8ir
financiol statements In accordance I￿*h th? Fingnoal Reportin9 Standard appllc4ble in UK 8nd Republlc of
Ireland IFRS 1021.
The change In the charity's position enab188 the Tntstses lo wnfirm l*at they have b88n able to prepare
tho68 accwnts ￿￿Or tho 90ing cC¢￿M eonvonts"¢)n.
OBJECTIVES AND ACTIVITies
We have ￿l￿rr1d to the Charlty Commission's guidwce ￿ wblc beneftt when w¢wAng ouralms and
objectiv88 Bnd In plannlng ￿Jr lulur• #Ltyvibes.
Pollcl•8 and obl•rti¥••
Thg airn, and Ihe principal object, of the Charity is lo k¥ovid• support for Ihe performance of contempDrary
rnusic, which may Indude commissi¢min9 of naw *r(k. ￿￿¢0mM8r￿al r8cordirYJ or publication. The
Tru$lee$ ar¢ oware that financlal assistanc8 is oft¢ft theces$8ry in order to ¢￿ate the opportunltiès for both
composition and resoarch. There remains a back ofiundin9 WAI￿.n the #rts Sect￿ g8n8r81ty ané organis8llon$
and perforrner$ are having lo be incfeasiryly innovaiNe in how they fund Ihèir aciivity. They are equalty
aware that the rè5uhs from ￿mposition or rosaarch nood to be madè knowi ￿1$ Ih81 financial as$istsnc• is
often neeessary forthe proJuclion of porfom)8nce materia￿. lor the pub11¢8bon of the r•Sultsof￿Se8r¢tt an(1
for Ihe performa￿¢ of new compositions ￿ 18ke place (L$￿Ity warded 88 Certain 10 invofve loss￿ for the
concert pr￿nOterS and others invofved in thB fi¢ldl.
The Trustees regard the exply¥thJn 8nts ¢Jevel0￿Ment of new music. its ¥c8ssibillly by the 9ener?I
puNic. lo b8 imporlanl to Gultural d8v&Wnenl and wellbaiThJ ofthe UK. A5 s￿h Ihtsy focus on supporting
adivilies of perfomers and promoters who are l)¢th innovhtiye in the music they 8re bringlng to the public,
and 8r8 al80 Innovaliv• in how th6y saak to engag¢ with the community and to bring in fr8sh 8udience5. Tha
FOundat￿n Ss keen to look dt ap￿1¢811￿S from across the UK- notlu5t the main u￿an ¢entr88.
b. Adlvltl•8 fora¢hlevln9 obl•ctiv•s
The Charity athle￿ Its objedivesby rn?￿n9 granlslointh.v￿￿aljjTrjtyg0￿sèts)n$ in b¥0 broad ¢atètr)ri88'.
1. t(1 $upport the pu￿￿C performances olwork8 by liviry CoMp￿r$,. aTrJ
2. to as51St wlh the publtaJon of rnugec4c¥Jlcal research.
Full dg18i15 are avaikbk ￿ th? Charitys ￿b￿.1￿.
¢. ¢harll8ble Adlvftlos
Gran15 are payable lo individuals and organi8alior￿ Ic4k*win9 ¢¢)nsideration at a meeting of TnJstee8. Eaeh
application is con4dered on Ils own rnerits. alb¥￿n0 an apwcpriate level offunding to be determined.
Grants afe based on an apFdi¢abon pror*ss and are 95s￿ed by the TNstee5 at Iheir regular meètings in
accordanre wlh a number of criteria incbjding conlempDrary music c￿lent. audience ￿8¢h. potential for
other lundin9. availabilrty of other contempLY8ry perfom)ance in the 8pplicarits a￿8. and consideration of
the significance of Ihe proposed tyle¢l to the hjcal ccffjmuryry as well as to Ih8 brogder UK contemporary
music landscape.

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
REPORT OF THE TRUSTEES- continued
d. A5$ts$rn•nt of Success
The Trustg8s otrlain r*poris whereverpossibla from al of I1￿1r¥80￿M6Trt orgenioab¢)n8 and thi8 is a cwdition
ol the grant. Success Is conwderod in both tary￿18 and intawlble ways and inthde a nurn￿r of faciors
Including..
The artistic qualSty ol nthv rnusic-a6se$s8d ettherthrough a1tw¢yp￿Co by a Tnjstee, IKal review5. or
other Yeedback obtsined..
Audience 8ngagern¢nl - whik the Trustees do rnt use aUd￿nCe numbers as a coro mgasuT8, the
altendanco numbers and gen•AI 188dba¢k ¥AII oft•n InI￿ne* vth81h8r organlsalSon6 r8cèiv• fundi
fof future proiecis..
The prolessionali$rn of the perf0rrn￿ - ¢ov•ring all ayct5 from promotion thrwgh to the fkn81
eoncert delivery and up".
Local engagement- the ¢¢9ree to which the eveni managed to ervJage with the local Cornrnunity and
re8¢h indiwéua15 who may I￿t otherwi58 have twi aware or Int•re6ted in Ihg events.
REVIEW OF THE YEAR AND FUTURE STRATEGY
Salo of P•t•r• Edltlon Group ol Companb•s
In Spring 2023 CIO'S wedecessor chanty, The Hinrithsen Foun¢J8tion18 Charty consliluled undèr 8
Oeed of Trusll ¢ornpleted thè sale ol Its majority niterest in the Peters Edition Group of Companie$ to Wi$e
￿￿1C Group.
Followng lh• successful eomplelion ol Ihis sJe, Ihal charity's assgls and li8bilti•s w•re tr8nsf8rr8d lo Ihis
Gharily. a CharilabK8 Inc¢ywrate Organisalion which had been es￿OI1$hod fu the spe￿rIG purpose of
eonlinuing the sama chanlable aims bul ￿lIhin a more appropnat8 legal structurè. This Ir8n51er was
undertaken on 27" June 2023. and thès8 accoLtnts repTe5èni th8 firsi period of op•raiion of Ihe CIO, havlng
previousty been dowanl.
Inv•slmoni m•naym•nt
Following the Salo olthe Pelers Edilion of ￿panieS, th& Trusiees Underto[￿ a competllive lenderlng
proc•s5 forthe appdntrnenl of investTYWt managers for1￿ ¢h&rfty. After Iden￿'fyin9 • $hortli8t. tha Trustees
8elecled Ckm Asset man￿eMent as the Inve81menl manag8rn.
The Tru5t888 ar• s88king a risk m8n*Jemenl strategy in rakiw)n to Its as5¢ts, and at Ihis polnt ￿ceIVe
a £37,500 a quarter payment from the invesimèni pjlfolio ¢0 rneei itts c%trreni grant expeciation8 and
admin￿stratiVe cosls.
£5 milon w85 IrAnsf6rred to Close Assel Marla￿￿nI in Augug12023 anJ at 31 Oecèmber 2023 the
investment portfolo wa¥ Valu￿ at tS,182.333.
R•vi•w ola¢tl¥itles
The Charlty
Th8 Sale of its assets has enabled the Trusiees to reopen it5 9ranl gl¥lng 8clivity on & r￿￿1#[ basls and
during the period grants totalling £26.549 were awathd. The a¢tNtt18s of the fDuDdation are furKJed frorn the
designated reserve (being the Inveslment portfol¥)l. with tran6fer8 rrwde as oqulred in order to m88t
cashflow requiretnenls.
The linancial actiwty fL¥ year 1$ shth*n on p4e 11. The total inveslmenl ¥etum lorthe period was 4.4%.

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
REPORT OF THE TRUSTEES -conllnued
M•nag6mentofth8 Ch•rity
Th8 pr8d8ce550r Gharity was creai•¢J ¢)n 18 Ociob8r 1976. Frorn Ihis tim• until her r•tirorn&nt in Juty 2024,
the Found81ion's day40•8y M8n8ge￿ent has been led by LesleyAdamson. Th8 Trustees land we are sure
rnany #Gross the UK conlemporary MUS￿ scen81 wcutd wish lo reco¥d their thanks lo L851ey for her many
years of palient str￿¢e ofthe Foundation and we 81 wsh ￿r￿lI in ￿ rgtirernen¢.
Th8 Trustees 8r8 delight￿ ￿ **kome Dr Angela Slater ¥tho ha8 taken ￿ the rokg of GO￿Val Mana90r.
RESERves i DISTRIBUTIQN POLICY
The assets of Ihe CIO are largely derwed fmm the proce8th of thè Sakn of thg Charily'B inter9Jl$ in
the Edition Peiers group of cornpanies. The Trust885 have decKl8d Ihat, wth￿e tre bn9er lerrn strategy for
th¢ CIO Is bein6 devetopwj. thai the aim6 ar8..
Presèrve the 8s$el base of thè CIO
an approxirnale amoLmi from the Inv•stsnw¢ portlolio of ￿N¥••n 3% and 5% eaeh yoar lo
mg91 Ih? expanses ol Ihe CV) aThJ to be aval￿b￿ for gr8nt6.
STRATEGIC REVIEW
Tho flnanclal structure of th• Charlty has t>een tr8nsfwi?d 88 a resull ol th* sg1• of asoets, 8nd th18 h88
had 0 significant imp8cI on Iha chanty'8 rfsk wofle.
The Twslees are currgnly consd•ring the F￿￿ndatIon'S future strategy, includln9 the types of oryanisaiion
and aeiNity we wish to f¢XUS on. th• rokn th* Mull￿￿ar commitrnèThl$ have, our 9eogr8phic coverage,
and tha lovels of support ￿ are wshing commll to. The fftvèstft*nt portlolh) repr88•nts our sole assel, and
th¢ question of balance belween brrfJ temi ma￿l¢nar￿e of that asset bose, and the need$ of the 58etOT. is
a key part ol that fkrture siralegy.
Th1$ str8tegl¢ revivi bthll Impocl on our res8rv•s and Lllstrl)utlw polity 9oln9 f¢ywor¢.

HINRICHSEN FOUNDATION CIO
Year ended 31 Decembèr 2023
REPORT OF THE TRUSTEES - continuod
GOVERNANCE
Con8titution
The CIO wa5 established os a Chaiitablt hcO￿Or9t9d O0anLsab.￿ and was ￿￿tered a$ a Charity wlh
the Charity Commission on 31 January 2017.
Trustse5
The TFu818e5 wk) seryed during tho year an(J 86 al Ihe dale of lh￿ r8FQrt are as fr)IhJ¥8'.
Dr Eé M¢Keon (Chairman)
Mark 8rDmley (v￿ Chaimiw}
Tim B8rg
T8bby Eslell
8cbble4ane Ggrth8r
Eleanor Gussman
Dr Gavirt Higgln$
Dr Linda Hi￿1
Dr John Chris￿an Kla50n
of¢$$cf si•phen Wa16h
ApKrt)inted 29 January 2024
Resigned 29 April 2024
Appointed 29 January 2024
Aprolnlod 29 January 2024
Eleanor Gussm8n stoc￿ down as a Trust88 on 29 Apn"12024. Th8 Trustees would Uke to thank her for her
¢onlrtbu￿ort as a tyu$t8e for lh8 Foundolion.
Method olAppolntmonl or El#eYon oi frn$l¢¢s •ftd th•lf Inductl¢)n
Charity has a rnirninyjm of 6 and 0 maximum of 12 1otslè•s. New Trustsès •rn app)Inted by a rèso*Jts'on
of the Truslèts passed al a meeting of Ihe Truslee$.
The Trustee$ are appolnie¢ tor 8 thre8-year term and can be reoppoinied by Ihe Bo8rd ai the end of each
18rm ¥vilhout any Ilmit on the numbor ofsubsequeni ￿rmS Ih8t can be seryed.
Orgonls•Tron•l structurn •nd d•¢islon making
The Boafd ol Trustees administers the Charity. The T￿￿te¢S meet thr¢è Of four b"rn99 88eh year to con$i(ler
formal aPpI￿atron5 which come wilhin the Charivs ¢)bieclives aThJ 104Jeode on Iha disposal ol th*ir incorne.,
81 aOmin151rative dube$ a￿ c8rned out by the General Manager.
The Charty Is a member of the Association of Charit8bk Foundgbons IACFI. ACF pffjwd•s much helpful
Information on good Pract￿e. changes in law affeding ¢harib88 and act as an authorit8tiV8 lobby on beha
of the charitable founO8W"on5 W4th the Government and Reguk8iors.
Rlsk M•fv•g¢ment
The Trustees hav8 a risk rnznagompnt $lrttagy which ¢omprises;
al An ongoing review of Ihe mai(x risks the Chhnty may lace, induding the malntenanc• and miewof a
risk regi51er',
bl The eslablshmeni of systerns 8n¢ procedu￿$ to mthgate Ih05e risks idenl1f￿￿..
cl The imptementalion of procedurps ¢Jesigned to mIn￿tnr6e any potenti81 impact on the Charity.

HINRICHSEN FOUNDATION CIO
Year ended 310ecember 2023
REPORT OF THE TRUSTEES -contlnued
The key conlrobs u￿1 by the Trustees inckjde..
An established organi5ationai struC￿re fL¥mal repth"w of al opera￿0￿8 and activibes aff¢¢ting
the Charity. ￿n¢￿Iding forrnal agendas and fflnute5 of meets"rYdS Wd..
Clear aulhorisab.on and appioval18vek8",
Engagement of extsmal prgfe5wonal advlsors lo th8 Trus￿8$ 88 and when nee￿ary.
The Trustees havo anatysad the Fol￿a￿On'3 activity in ¢ho tsvo 8r8as of Arti5bG and Govamanco. and havo
previously identified a numt• ol potenli81 risks wilhwi ea¢h aiea wh¢ch WeTe primarity link8d to the Ch8rty'
relationship wilh the Edibon Peter$ GfOUP.
Prevbusty Identsfled In this arèa IncXJded the ￿ats￿lty lo influence the Group or l¢s other shareho¥Jers
in relation 10 di¥￿endS and dislnbutKJM. and the impact ol operalir¥J issues or s￿￿￿riG initiakn'ves within the
Peiers Edition Group on luture tthStnbut￿ns. Wilh th$ of Ihe Chanly s inter8518, the50 ri$k$ no k)ng8r
aptyy.
The TnJs18es had 81so Identifled Ihat the Chafty's ¢ompl8x stwcture Impacted on th8 Charity's abillty to
attrocl new tnJstees. The Trust￿5 aro ¢elNJhtsd to hsv8 boen abl8 to add Ihr•e now tru$l985 to the Board
this year.
Tho TnJglee6 are rg¥i5rtirrfJ ththr nsk r¢9i$ler AS part ol the current $trateg¢¢ revi￿.
PROVISION OF INFORMATION TO INDEPENDEIIT EXAMINER
Each of tho person6 who or• Tnjslees al fv lirne vthen this Trugt¢g¥' Roport b approved hA8 tonfimed
that..
So far as that Twst•• 1$ 8W8rn, 18 fK* fo￿artt audlt h)ffyTh&tKJn of wttich tho Ind•pgndenl
Examiner Is un8ware. znd
Thai Trust88 h8s taken Hll Ihe sieps that oughl lo have been tak•n 09 8 Tw8tee in ord&r10 be Aware
ofany Informalion needed by the Independent Examiner in ¢gnnection wilh preparlng 118 rèport and lo
èsiabhsh that the Indepandoni Exarni￿r is awam ol Ihat information.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Thè TfUSt48s are responsible for wepanng th8 Trust88s' reFort and finanaal stal8mgnts in aecordanc6
ilh applicab￿ Lgw qnd United Kingdom A¢¢ovnthng Standards (United Kingdorn Gen•r4lly Ac¢8pted
countirKJ Prackncel.
The law applicab￿ to charities in Engkind & W818s requirgs Ihe frustees lo prepare financial st8tamènts for
each nnanclal year wbith give a Inje and fair view ol Ihe slate of affairs d the Charity and of the surplus or
dellclt of lh• Charity forlhat F4riod. In F￿￿n9 Ihe8• finanrAal slalemants, Ihe fru5te•s ore requlred lo..
sglect Suitab￿ accounting policies and Ihen apply them consistenly..
obs8rv8 the fflethods and prinapl&s in tr* Charities SORP IFRS 1021..
make judgrr￿lS and estimate$ that are reasonable and prudenL
stale whether applicable UK Accwnting Standards IFRS 1021 have been fo1￿￿d. $ubJ'Ècl to 8ny
matenal departures disdosed and exoained in the finanoal statements",
prepare the finanGial Statements on the gc¥ng ¢oncem basis urJles$414s inappropriale tts p￿SuMe thal
the Charity will conJnue in op8ration.

HINRICHSEN FOUNDATION CIO
Year énded 31 December 2023
REPORT OF THE TRUSTEES - continued
The Trustees a￿ respon¥it* fLY keeping prcyer a￿Unting reoyds that dix4ose with reasonable a￿￿racY
at any lime Ihe financial wsib.on of Ihe Charity aThJ enabk ihern to eTrSU￿ that U)e finantial slaternenls
comrAy with Ihe Charities AGt 2011. Lho Charity IAw>un18 and Raportsl Regulat￿n5 2008 and the provi$iDn
of the Trust Deed. They are also responsible for 58fe9u3rthng the assets of the Charty h8nc8 fortaking
reasonable steps for the prevenlion and deiedion of fra￿ and other Ir￿guI￿ntleS.
The Trustees are responsib18 lorthe maintenance end integrity ol Ihe Chartty and finandal infom)atlon
i￿luded on the Charity's websi18. Legi$klion in England & Wal&s gov8ming th8 preparation and
dissemination of financid statements and olher inlormatk)n In¢lJded in the finanEial $￿teMen15 may differ
from legislab.on in olh&r iun8diction5.
This report W8$ appTtsVtd by the Boafd ol Tru¥tees on 31 October 2024 and ￿ned on their behalf, by..
TIM B•rg

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
INDEPENDENT EXAMINER'S REPORT
To the Trust•o5 of Hlnrichsen Foundatlon CIO for th• y•ar ended 31 0￿•mber 2023
I r8POrt on the aco)unts of th8 eornpany for Iha year ended 31 D8cemb8r 2023 %vhlch ara 881 out rxi p8g0S
Rtip•ctlv¢ r•Bponslbllllle8 of tru•t•e$ and •xamln•r
Th¢ Iruslees Iwho are also the direelor5 of Ihe ¢ompany for the purposes of company lawl a￿ ￿spOnsib
for the preparation of the accounts. Tf* Irustee5 consioer that an audft Is noi wuir8d for this year under
¥8Ction 144121 of thg Chsrities Act 20111th9 2011 Act) and Ihat an ind8peNJent examlnalon n8eded.
11 is my respon4t4.lty 10..
8X8rnlno the ac(xJunls under sedon 14$ of lh8 2011 Act
to lolbw the proc•dure$ lald down in the gwral Directson5 gI￿N by Iho Gharfly Cornmisslon under
section 14515llbl ol the 2011 Acl
lo stale wholher p8rticular rnaiiors h8¥e lo my allent￿n.
Basis Of Ind8pendent oxaminer'$ r•port
My exèminalion was carried out in a¢corLlance ￿1h Ihg genèral Directhons given by the Charily Cwmission.
An examinallon includes a reviv*4 of 8¢¢0untirrfJ records kopt by th8 charity and a compad50n of the
accounts presented wih thos8 record8.11 olso irtludes considèration of any unusual itèms or disdosures in
the accounts and $eeking explanatie•s from you as tru5t•os con¢eming any 5ueh matters. Th8 procadures
undertaken do not provide am Ihè evidence wwld to ￿9￿1r9d in an audit and conseguenlly no Dpinion
is oiven as to whether Ihtr a¢￿untI Pr￿eThi a Yrue and lair ¥y8W. and th• rep¥t 1$ lrnitsd to tttose matters
¥81 out in the next ststgThni.
Independ•nt •xamln•r's ststern•nt
In conn8Ctlon ￿ry1h my examination. matter has come to my 8ttention'.
which 9ives m8 reasonabb cau$8 lo belltrve Ihat in any material rnspecl thg
requirements..
10 k8ep 4ccountiTwJ record¥ In accordanc• wAth Ihe cha￿￿0¥ Aet
2006 and
lo prepare accwnts whlth acccrt ￿th tho gccounbng r•¢ord8 ond with the m•ihods and
princlples of the S181ement of Racornrnend8d Pfa¢tica.' Acrnunting and Rewbng by
Chan1￿$ have not b88n rnel or
2. lo which, in myopinion, attention should h drawn, to onable a propgruThJwstandlng 01thg xcounls
lo be ￿ached.
Slgned. 4.t EA.-.
Namè.. Hflen Blnns FCA
8eev8r ar￿ Slwlhers
Chartsred Act￿nI￿ts
One Expr885
1 George Lei9h Street
Manche¥igr
M4 5DL
31 October 2024

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
STATEMENT OF FINANCIAL ACTIV￿lEs
rot•l
2023
Toial
202Z
Funds
G•Mral
Incom• •nd •th1o￿nIfi￿ trom..
2,707
26,865
29.$72
Toi81 I￿tyT
2.707
2$,865
28.572
R•i￿n0
Investm￿1 Man￿or￿n1 l*•$
3.070
3.870
Ch¥rits¥e O¢bViiie5
Gr8ni$ payab
25.S49
25.175
26.$49
2S.175
Si.724
51.724
T￿￿ frxp•ndi￿re
51.724
3.870
55.594
N81 Inc¢mo 1oxpond4twel kvrin• M Inv95trnEnts
149.017}
22.996
IZ6,0221
196.838
196.838
N¢1 InC￿ne lexpeDditvwl fr*1￿ YY
219,833
170.816
A65et$ I￿￿t91T￿ hfrcm Thè HINkhs•n
Fwnd8U
S.Ql1.115
IDl•i fu￿ Irwofei
14,962.5COI
4.962,SOO
Nel mo¥•m*)t In forlmyo
{4021
S,182,333
5,181,931
B•*n¢g5 broWllth¥arf 81 l 0￿bIT
Icrtwd •1 31 O*•nb•r
{4Q21
S.182.333
5.181,931
l amoun15 rd*le
Th•r• aro no rocowiS•d lo￿ fu ￿Jr￿¢ fi￿r0e1 y••r fthd•l p&K•J othw lthn aa
8ho¥wn 8bov•. The notq5 tr) o•J•s 13 io IS lrym wrt olihes•

HINRICHSEN FOUNDATION CIO
Year ended 31 December 2023
BALANCE SHEET
2023
3022
FIXEOASSErs
5.182.333
5.182.333
CURRENT A88Ers
Dfybti￿S
01 barth and In
CREDITOAS.. fa*ng du•
wllhln on• y•ar
I￿.808)
NET CURREPIT ASSETS IUAeiuTE$I
TOTAL ASSgf8 LESS CUF¢VtENT
LIABILinE3 BEING NET ASSET5
5,181,931
R•wqHni•d by.
Unrnstricithyfunds..
. C)•n•ro1 frjndts
DO5￿n￿led lund#
14021
5.182.339
5.181.931
The Thnèndal s￿lementS worè 8rvty•J and •ulhEoknOk*lM*ion 31 Octob•r 2124 and4w behgl ty..
11m Baro FCA
Tr••Juror
Th¢ noiei on pay•$ 1310 15ftyrn p•rtof*rt*•fiM￿

HINRICHSEN FOUNDATION CIO
Year ended 31 Dec8mber 2023
NOTES TO THE ACCOUNTS
ACCOUNTING POUCIES
Foundatw CIO is a chariiab* irturnaed w151oEd a5 8 ihe Chafity c0mllu$￿rn
In Englaryj ¥nd Ir*) 11417011. The enbty 89 de￿￿d In FirhwKi•i Repwbnq 102
IfRS1027.
Thtr finantyal $tolerneDls are we￿rea In ￿darK0 ￿lIh cOm￿n￿Ad and Y* Ch8rthsAct 2011 Accouniir
R&portiNJ by Charl￿5." St8WhNgni ol R￿0mm0￿Jwj Prauto appI￿abb9 ID th¥iti8s Ilhb -SORP-I k*7panng Ihtrir
Hcroun18 in x¢oiddnc•wih FRS102. th• Financial ap￿C￿bkn LM(8nd Irgiw)d. Agoiry
has been adopted ab￿t tho theriiy's abity ￿ ¢oniif
foi lorts$ÈÈablè futu1<.
A wing Cortem ￿¥L% tr•9 t44n •Jcgled arrfl tm Tnrnts￿ cf*uMJvrthJt r￿*m4¥¥ 8f*wi th• ¢harfiy
aDilily toconlinue lorlhe tW8818•)b I￿¥1•. kn wbrLl8rlheTNglwG haw lh• ryxtol CLhld.19on
Iho chartys *ility 10 lund its ¢hanlabkwcgrtmm•• ILIII wrF¥)w.
A5¥1t8 •nd Il•Nltios we rn¢0gthd at ¢M v*u• oth•ThYl•e $t•tqd ID tho Miiva
Co￿tr￿9 poIGy th)tss.
gnifKeni ri$kol4n OLI￿￿￿1 ￿rt4 r*￿ hi pwoy ts) ￿l￿ofth¢ 8&19ts orllatrd￿￿1•,
Fund accounlkng
GIn•￿1 fu￿18 ale luThJ8 w¥l•tya tr u1• •t T￿01•0• in furtr*rnrK* cr
genet•l (*4•¢ir4M olth• Chllnty hp¥e bew dBsw•with1 lorotr•r purpo￿.
O•signalad lund. Tho aesiwed Ivnth rewu•hi the In¥05trMni port1¢￿0￿¢* hm been rryaT4o& 88 8 knn9 iaim
a88w. g•n•rniirva Ihv Tty%t•￿ lo en•t40 ihern to hAII 1fv•￿ thariiatk Tth & mfieclN• ol w4y in
¥vhich Ihe ort￿￿•1 ch*r￿
In¢¢m•
Income iq recc1Jn￿•¢ the thiity ty￿r￿rn•ni to fur•Ji. •iy att￿h•d lo the irKLYn
has moi. N18 weblltyie rnc•wd dlhai IrK¢Thweon bA M￿•￿T•d f￿￿y.
•xpbMthro retrairy tollw li expec￿1 b O¢¢LV fft ofL4lw• p•Md than IM aram loi
a C*rf¥JfLW8ffj as Ro3gr¥o3.
Lo99G￿ No IrKorn• b•en rt4ifiad d 8n entrt￿mrt v8kn6 011Th8t
enlilkneni c8n be e6rabbthedv4Tth rn88or49ty0 c•rt•ty. rt6 b8en CQDfftn**d. us￿11Y by way
Dcmrh)ns aT8 wn150tt Iiw chwty Is of •sI￿lIt& thallon¥ hovg
b¢4n MBI. iJcth1th.
Expgndttur•
Expendi￿re & recvwisttl ￿ •n wu•ls t•5M VAT.
Grenls P8y814frwo ornnt Is ¥pry￿•d tyTRtsl￿.
cosls all ol Y￿rIvIj In Apport tl thè Chantys otrlBCts. comkw th• th8
59creiary. ccqts to day oper•iityK*oftMcnBrty.
Inv•stm•nts
inve5trnpnts arp ¥¥1￿ at ￿l￿a)Je al Iho $￿&t dale. Realmd wwe•llsod oakns 4nd ths05 are
13

HINRICHSEN FOUNDATION CIO
Year ended 31 De￿mber 2023
NOTES TOTHEAC¢QUIITS
2023
2022
INVESTIIENT AND OTHER INCOME
88nk Interesi*Kf irKCrnB
29,572
INVESTMENT MANAGFMEP￿FÉeS
Fe95 payab*lO Invéstment man•3•r
3.870
CIIARfTABLE ACTMTIES
26.54
Adrninistrauw costs..
Tru¥le8¥ knnEh•s ¥nd expen5•B
Setret8rf8 $8k*ty
Pnnliry. $l*wory. I￿*ph
1,425
11.366
624
340
1,500
7,048
2,819
50
Audit
Legèl fe•$ IUKI
l)her wol055lon¥lf••
88nk ¢h•r911
Th• o¥v89• ￿M￿r¢1P•￿￿￿Trb •rnPkn>•J ￿ye*r￿•S 1. Th*w8• fv S•cr*Jry. L E￿8￿¥0￿.
INVESTMENTS
Oyring babr
Ac4uisil￿5 at c￿1
$rxisBb Bt C051
Unr•Alse& wofft fry￿ y•
4.718,782
198,$67
Cloilty b8W¢•
4,801,014
Inv••tn•Dt C••h
OpeDlrg
Tronsler trom CIO b•nk
Tf8nsfer bgnk
Ac4Ui8ilK￿* aicwl
PrfKo•d• on dsSPN
Oiher¢8sn mov•wt
S.(￿,000
137,5001
14,718.702}
114.585
22.996
381.319
Toiai at mark6tV*k* 31°
2023
S,182.339
TOI4 Invésth•nts atcost 31W D*•ri*2023
4.9B3.7e6
CREOITORS
rants pgy
£crtw
84.108
85.6D6

HINRICHSEN FOUNDATION CIO
Year ended 31 De￿mber 2023
NOTES TO ThE ACCOUNTS- Contlnu•d
FUNDS
r•souru¥l Trwure•51
8awnce at Tran￿
nel
1 Jinuwy frryn p￿0t Invv4bnwt Ih¥•thnt
ZO23
¢hthty
B•￿ne* 41
Tw•n*f•M
2023
UnrHtrkt•d fund•
G•nernl
5.011,1tS
2.707
151.7241 14.*2.5001
14021
5.011.115
2.707
151.7241 14.%2.5001
13,8701 4.962.500
14021
S,182,
furdi (So•
Totsl unr•#thd•d
226.410
{55,5941
5.181.931
Wnen th• pr1d0￿8￿ ehanty. Th• Hinrfthyoty Ftyxd8tkn. t*as cr•tsd li 1976 th• way IINg1 tyW• an
•sgét base rewesenlgd by thè Mktry in Peters Editrtyl thai *ThJbSboincrfft pnarabng forihe CttaTIty. Foiknwing Ihe
01t￿ch￿rI￿.3 In￿10$￿8 In P4t4rs Edlkn Grwp ltr 2023. Iho asso¥ and I￿￿rIll&S Of thAI Charfly V￿r0 tr8Th8l0ffed
iolh• HiMth59rt F￿nalty￿ C￿. T**TnJth•S have deswknd th• as 8 s•p•rate fu￿ I￿￿ th8ycw draw
on to meEt Ih*r rn•dwm ano thj tqrm Thv& 15 th• Daws clthe P6Walqd fun6.
NET ASSETS BET￿EN FUNDS
Unr••trf¢t•d Fund¥
Gw•rnl
D•BlgMt•d
Tol•l
InvBstm•n
CurreDIAs#
Cuffont Liatqlb
6,182,333
5,182,333
J¥,206
185,5081
{8S.1081
14021
5.182.333
TAX4TK)N
Ag Ihè Hiniiefffjw CP) v6 ar•ty*u•d ￿￿￿￿OI01h8 exempiv4frw cryatknn tax bffordud by
th• 2011 i¥*w>Th p￿r••I¥ I￿￿J1￿c￿llb1# PUWO&.
INDEPENDE14T EXAMINER FEES
The lrn#ep•nd•ni ExurrdnwF••f￿ll￿ >Y4r £1.scrfJ rI022-£￿[l.
RELATED PARTIES
FivD TnJS1**9 12022 Nill éxp￿￿ tota￿rg E55812022 CNI to 41tendin9 m8rfing• ol TnJilMJ and
Other nw¢bng5. M 8rornlty i* r*￿7￿￿￿￿• Chlly ol th• Boerd d DifeL*orn cl Sl in Fldds rncei¥ed
£20812022 £Nlllduthg the pthad ltrih• r￿.