CHARITY REGISTRATION 293662
THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND 31 DECEMBER 2024
Index
Pag•
Trustees Report
Report of the Independent Auditors
8-10
Statement of Financial Activities
11
Balance Sheèt
12
Notes to the Accounts
13-16

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
CHARITY REGISTRATION NUMBER..
293662
PRINCIPAL ADDRESS:
The Honourable Society of Lincoln's Inn
Treasury Office
Lincoln's Inn
London
WC2A 3TL
NAMES OF CHARITY TRUSTEES:
The Rl. Hon Lord Richards of camb8￿811 (Chair)
Mr P L O Leaver KC
Mr Mark Studer
Mr Martin Moore KC
BANKERS:
C. HOARE & Co
37 Fleet Street
London
EC4P 4DQ
AUDITORS:
Haysmac LLP
10 Queen Street Place
London
EC4R 1AG
INVESTMENT MANAGERS:
Legal & General Group PIC
Legal & General Investment Management
One Coleman Street
London
EC2R SAA

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
REPORT OF THE TRUSTEES {Cont...I
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and the audited financlal statements for the year ended 31
December 2024. The financial statements have been prepared on the arKounting policies set out on
pages 1110 12 of the financial statements and comply with the Charity's trust deed, applicable law
and the requirements of thè 'Statemenl of Recommended Practice, Accounting and Reporting by
Charities, issued in Oclober 2019.
OBJECTS, OBJECTIVES AND PRINCIPAL ACTIVITIES
The Charity is governed by ils Tru51 Deed. The purpose of the Charity is to use the whole or any part
of its fund towards maintenance, improvement, repair, embellishment, upkeep or preservation of the
Heritage Property or part thereof of the Honourable Society of Lincoln's Inn.
PERFORMANCE OF FUND
Covenants, donations and legacies received during the year ended 31 December 2024 amounted to
£35k (2023.. £22k)
Investment income received during 2024 was £39k12023'. £37kl.
Investments this year have achieved a gain of £179k12023.' gain of £71 kl. Investments are shown
on the Balance She8t at market value in accordance with charity accounting rules.
The NetAssets of the Fund increased from £1,961k to £2,208k.
FUNDRAISING
Whilst we do not actively fundraise, we are fortunat8 to receive donations and bequests from time to
time. We are grateful for the generosity of the donors.
GRANT MAKING POLICY
The Heritage Fund Trustees receive funding requests from th8 various Committees of the Inn, for
their consideration. Projects considered are for those Ihat have been approved by the Council of
Lincoln's Inn or by the Finance & General Purposes Committee of Lincoln's Inn. The Heritage Fund
Trustees may offer to fund either all or part of the proposed project. Expenditure not met by the
Heritage Fund on an approved project is met by The Honourable Society of Lincoln's Inn itself.
In making a grant the Heritage Fund Trustees expect the responsible Committee to supervise the
spending of the monie5 granled. The Heritage Fund Trustees are not themselves in a position lo do
so. Lincoln's Inn pays the contractor in question on production of properly authorised and relevant
invoices. Expenditure by Lincoln's Inn is controlled and managed by its various officers and monitored
by the Finance & General Purposes Committee. Once the project is in progress and the costs of the
project are being met, the Inn requests part or all of the promis8d grant, to the valu8 of its already
expended funds.

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
REPORT OF THE TRUSTEES (Cont...
FOR THE YEAR ENDED 31 DECEMBER 2024
RESERVES POLICY
The Trustees have reviewed the reserves of th8 Charity, which comprise £629k unrestncted and
£1,574k of expendable endowed reserves. The Trustees felt it importanl to maintain the expendable
endowment at present as the investment in stocks and shares is the only significant Source of income
the fund receives. The Trustees have agreed to relain a buffer of cir¢a £1.5m in total reserves in case
of emergency calls due to the age and nature of the buildings supported by the Charity.
This review encompassed thè nature of the income and èxpenditure streams, the need to match
variable income with anticipated donations to Lincoln's Inn and the nature of the reserves. Reserves
are held in anticipation of the future needs of the Inn for its heritage buildings idenlifieé from and in
accordance with the Inn's 10-year estate maintenance plan produced by the Estates Department.
Grants are funded from free reserves and in¢ome during the year. During the year the Charity's
unrestricled reserve fund increased by £109k from £520k to £629k.
FUTURE DEVELOPMENTS
After a number of years of significant 8xpenditure on properties that the Fund can 8UPPOrt, there are
number of years ahead where exp8nditure on relevant buildings is not expected to be incurred. The
Trustees will continue to consider any suitable projects that may arise in the coming years that are
not currently reflected in the Inn's 10-year estate management plan.
INVESTMENT POWERS AND POLICY
In accordance wllh their powers under the Trust Deed, the Trustees have delegated the day-to-day
management ofthe portfolio and the investment powers to the Lincoln's Inn Investment Committee.
The funds are invested with Legal & General under passlve managem8nl in pooled funds.
Legal & General levy charges consist of a flat per scheme charge, plus an ad-valorem charge and a
management charge.
Legal & Generals, purpose is lo create a better future through responsible investing. Aligned to this
purpose, ESG is a Gentral underpinning to all of Legal & Generals, activitl8s and especially within
strategic initiatives. Legal & General has developed ané publicly disclosed it's policies for stewardship
activities. Their policies are reviewed annually and updated where necessary lo ensure they remain
allgned with the various evolvlng r8gulations, best practice and client feedback.
Legal & General levy charges that consist of a flat per scheme charge, plus an ad-valorem charge
and a management charge.
INVESTMENT PERFORMANCE
During the year the Trustees transferred the 30% of funds held within Ruffer LLP, to join the remaining
700h of the fund with Legal & General, which is under a passive managernent in pooled funds.
The performance of the Legal & General portfolio tracked the market, so while doing no better than
the market, the fund has done no worse.

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
REPORT OF THE TRUSTEES {Cont...
FOR THE YEAR ENDED 31 DECEMBER 2D24
LEGAL & GENERAL'S INVESTMENT MANDATE
Legal & General manage the Scheme's assets on a passive basis in their pooled index funds. The
distribution of the Scheme's assets is lo be maintained in the prescribed proportions.
Where possible, cashfiows into or out of the fund will be used to maintain the asset distribution within
the specified ranges. In addition, switches between asset classes will tse implemented should any
asset ¢lasse$ move outside their rang8S.
FUNDS
The expendable endowment fund was created by gifts a number of yéars ago. The income of this
trust 15 trealed as unrestricted income. The terms of the endowment allow the capital of the fund to
be spent if th8 Trustees so determine. In the opinion of the Trustees Ihe Charity's assets are sufficienl
to meet its Gommitments.
TRUSTEES, TRAINING AND REMUNERATION
Appropriate induction and training procedures are made available to new Trustees. Consideration is
given lo the skills required and taking into account the fact that all the appointed Trustees are
experienced lawyers.
The Charity has no employees and the Trustees do not recelve remuneration for their Services.
TRUSTEES, RESPONSIBILITIES
The Trustees are responsible for preparing the Annual Report and the Financial Stal8ments in
accoréance with applicable law and United Kingdom Generally Acceptad Accounting PraGtIC8s (UK-
GAAP)
The law applicable to charities in England and Wales requires the Trustees to prepare flnancial
stalerrenls for each financial year which give a true and fair view of the Charity's financial activities
during the year and of Ils financial position at the end of the year. In preparing accounts giving a true
and fair view, the Trustees should follow best practice and..
select suitable accounting policies and apply them consistently.
make judgements and estimates that are reasonable and prudent.
stale whether applicable accounting standards have been followed, subject to any matertal
departures disclosed and explained in the accounts. and
iv)
prepare the accounts on the going concern basis unless it is inappropriate to assume that
the Charity will continue in operation.
The Trustee5 are responsible for keeping accounting records which disclose with reasonable
accuracy the financial position of the Charity, and which enable them to ascertain the financial posltion
of the Charity, and which enable them to ensure that the account5 comply with applicable law. They
are also responsible for safeguarding Ihe assets of the Charity and hence for taking reasonable steps
for the prevention and detection of error, fraud and other irregularities.

THE HONOURABLE SOCIETh OF LINCOLN'S INN
THE HERITAGE FUND
REPORT OF THE TRUSTEES (Cont...I
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees are responsible for the maintenance and integrity of the corporate and financial
infomiation included in the Charity Commission's website. The Trustees receive no remuneration.
The Trustees have complied with the duty in 8.17 of Ihe Charities Acl 2011 to have due regard to the
Charity Commission's publi8hed general and relevanl su&sector guidance concerning the operation
of the Public Benefrt requiremenl under that Act.
Approved by the Trustees on..
and signed on their behalf by..
¢wJcL LJ￿.
29 July 2025
The Rt. Hon Lord Richards of Camberwell
Chair of the Trustees

INDEPENDENT AUDITORS. REPORT
TO THE TRUSTEES OF THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
FOR THE YEAR ENDED 31 DECEMBER 2024
OPINION
We have audited the financial statements of The Honourable Society of Lincoln's Inn - Heritage Fund
for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Balance
Sheet and notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion, the financial statem8nts.'
give a Irue and fair view of the state of the Charity's affairs as at 31 December 2024 and of
th8 Charity's net movement in funds for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Pr8dice,' and
have been prepared in accordance with the requirements of the Charities Act 2011.
BASIS FOR OPINION
We have been appointed as auditor under $8Ction 144 of the Charities Act 2011 and report in
accordance with the AGI and relevant regulations made or having effect thereunder. We conducted
our audit in accordance with Intemational Standards on Auditing (UK) IISAS {UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for
the audit of the financial statements section of our report. We are independent of the charity in
accordance wilh the ethical requirements that are relevant to our audit of the financial statements in
the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethi¢al responsibilities
in accordance with thesè requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded thal the tru51ees' use of the going concern
basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work
we have performed, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the Charity's ability to continue as
going Goncern for a period of al least twelve months from when the financial statements are authorised
for issue. Our responsibilities and the responsibilities of the trustees wrth respect to going con¢8m
are described in the relevant sections of this report.

INDEPENDENT AUDITORS. REPORT
TO THE TRUSTEES OF THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND {cont...I
FOR THE YEAR ENDED 31 DECEMBER 2024
OTHER INFORMATION
The trustees are responsible for the other inforniatian. The olher information comprises the
information included in the Trustees, Annual Report. Our opinion on the financial statements does not
Cover the oth8r infomialion and, except to the extent otherwise expliGilly stated in our report, we do
not express any form of assurance Gonclusion thereon. In connection with our audit of the financial
statements, our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial slalements, or our knowledge obtained
in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencie5 or apparent material mi5Stalement5, we are rèquired to det8rmine 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 performed, we conclude that there is a material misstatement of this
other information, we are required lo report that fact. We have nothing to report in this regard.
MATTERS ON WHICPI WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respeGt of the following matters in relation to which the Charit18S
(Accounts and Reports) Regulations 2o084equl￿ us to report to you if, in our opinion..
adequat8 accounting records have not been kept by the charity., or
sufficient accounting records hav8 not been kept., or
the charity financial statements are not in agreement with the accounting records and returns,,
or
we have not received all lh8 information and explanations we require for our audit.
RESPONSIBILITIES OF TRUSTEES FOR THE FSNANCIAL STATEMENTS
As explained more fully in the Iruslees, responsibilities statement set out on page 6, the trustees are
r8sponsible for the preparation of the financial slalemenls and for being satisfied that thay give a true
and fair view, and for such internal control as the trustees determine is necessary to enable the
preparation of financial statements that are free from m8lerial misstatement, whether due to fraud or
error.
In preparing the financlal statements, the trustees a￿ responsible for ass88sing the charity's ability
to continue as a going concem, disclosing, as applicable, rnatters related to going concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charity or to
Cease operations, or have no realistic alternative but to do so.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assuranek about whether the financial statements as a whole
are free from material misstatement, whelher due to fraud or error, and to Issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee
that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.

INDEPENDENT AUDITORS. REPORT
TO THE TRUSTEES OF THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND Icont...)
FOR THE YEAR ENDED 31 DECEMBER 2024
Irregularities, including fraud, are instances of non-compli8nce with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to dete¢t material misstatements in respect
of irregularities, including fraud, The extent to which our pro¢edur88 are capable of detecting
irregularities, including fraud is detailed b81ow'.
Based on our understanding of the charity and the environment in which it operates, we identified that
the principal risks of non-Gompliance with laws and regulations related to revenue recognition, and
we considered the extent lo which non-Gompliance might have a material effect on the financlal
statements. We also considered those laws and regulations that have a direct impact on the
preparatlon of thè financial statements such as the Charities Act 2011.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial
statements (including the risk of override of controls) and determined Ihal the principal rlsks were
relaled lo management override of conlrol8. Audit procedures performed by the engagement team
included,.
Discussions wlth management includlng consideration of known or suspected Instances of
non-compliance with laws and r8gulation and fraud.
Evaluating management's controls designed to prevent and detect irregularities.
Identlfying and t8Sting Journals, in particular journal 8ntries posted with unusual account
combinations, postings by unusual users or wlth unusual descriptions.
Because of the inherent limitations of an audlt, there is a risk that we will not detect all irregularitl8S,
includin9 those leading lo a material misstatement in the financial staternents or non-compliance with
regulation. This rlsk increases the more that cornpliance with a law or regulation is removed from the
events and transactions reflected in the financial stalements, as we will be less likely to be¢orne aware
of instances of non-compliance. The risk 1$ also greater regarding irregularities occurring due to fraud
rather than error, as fraud involves intentional concealment, forgery, collusion, omlssion or
misrepresentation.
A further descrlptlon of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at: www,frc.org.uklauditorsr8sponsibilities. This description
forms part of our auditor's report.
USE OF REPORT
This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the
Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been
undertaken so that we might state to the charity's trustees those matters we are required to state to
them in an Auditols report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the charity's trustees as a body for our audit
work, for this report, or for the opinions we have formed.
Itaysmac LLP
Haysmac LLP
Statutory Auditors
Date.. 0410812025
HaysMa¢- LLP is eligible to act as w audrtor li t8rms of sKtlt)n 1212 of the Companle5 Act 2006
10 Queen Street Place
Lor#Jon
EC4R 1AG

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
R9Strlcted
Funds
Unrestricted
Funds
Expendable
Endowment
Funds
Total
2024
2023
Income:
Donations & legacies & gifl
aid
Investment Income
Intere51 Receivable
35,274
35,274
22,283
38,950
1,994
38,950
1,994
36,778
2,315
Total In¢ome
76,218
76,218
Expenditure..
MalntenanG& and Improvemènts to Heritage Property
Managemént
19431
Administration
Chapel and Library project expenditure
1943)
(4201
{7,474>
17,474)
Totsl Expendltur•
8.417
8,417
420
Net gainllloss) on
investments
462
40,801
138,112
179,375
70,619
NET MOVEMENT IN
FUNDS
462
108,602
138,112
247,176
131,575
Fund balances brought
forward al 1 January
4,802
520,317
1,436,115
1,961,234
1,829,660
Fund balances Carrled
foThvard at 31 December
5.264
628,919
1,574,227
2,208,410
1,961,235
All the activities of the fund are conlinuing in both this year and the previous year.
The comparativ8 figures relate to unrestricted funds gain of £12k and a gain of £58k for Endowmenl
Funds.
The notes on pages 13 to 16 form part of thase financial statsments

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
2024
2023
FIXED ASSETS
Investm8nts
2,008,579
1.790,067
CURRENT ASSETS
Debtors- Gift Aid Recoverable
Other Debtor8- Legal & General
Cash at bank
Amounts due from Lincoln's Inn
10,280
1,813
175,289
14,569
8,482
154,974
7.772
TOTAL CURRENT ASSETS
201,951
171.228
CURRENT LIABILITIES
Credltors
120
120
60
60
NET CURRENT ASSETS
201,831
171,168
NET ASSETS
2,208,410
1,961,235
FUNDS
Unrestricted
Expendable Endowment
Restricted
628,919
1,574,227
5,264
2 208410
520,318
1.436,114
1.961.235
Approved by the Trustees on:
and signed on their behalf by..
29 July 2025
The Rt. Hon Lord Richards of Camberwell
Chair of the Trustees
The notes on pages 13 to 16 form part of these financlal statements

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
1. Accountlng Pollcles
Accounting Convention
The financial statements have been prepared in accordance with Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to ¢harilies
preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 20191
(Charities SORP IFRS 102)), the Financi81 Rèporting Standard applicable in Ihe UK
and Republic of Ireland (FRS 1021 and the Companies Act 2006.
Golng Concern
The Trustees have considered various future scenados and thelr impact and are
confident that the Fund will have sufficient resources lo meet its liabillties for at least
12 months from the date of signing this report and as su¢h the accounts have been
prepared on a going concern ba8is.
Income
All incoming resources are recognised in thè Statement of Financial Activities when
the Charity has entillement to the funds, il 15 probable that the income will be rec8ived,
and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either..
The charity is aware that probate has been granted.
The estate has been finalised and noliflcation had been made by th8
executorlsl lo the Trust that a distribution will be made.
When a distrlbution is received from the estate.
Receipt of a legacy in whole or in part, is only considered probable when the amount
Gan be measured reliably, and the charity has been notified of the executorfs intention
to make a distribution.
Unrestricted funds are available to spend on activities that further any of the purposes
of the charily. Designated funds are unrestricted funds of the Gharity which the
Trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are solely used for
particular areas of the Trust's work or for a specific project. Donations required to be
retained as capital In accordance with the donor's wishes are ac¢ounted for when
probable as "endowments"
permanent or expendable according to the nature of the
restriction.

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
NOTES TO THE ACCOUNTS (Cont...)
FOR THE YEAR ENDED 31 DECEMBER 2024
iv.
Expenditure
Expenditure is accounted for on an ac¢ruals basis and has been classified under
headings that aggregate all costs related to the category. The irrecoverable element
of VAT is included with the item of expenditure to which it relates. Where costs cannol
be directly attributable to particular headings, they have been allocated to activities on
a basis consistent with the use of the resources.
Charitable expenditure comprises expenditure directly relating to the preservation,
repair and maintenance of Heritage Property and land and buildings which are situated
in Lincoln's Inn and whose upkeep Is for the time being charitable.
The Funds of the Charlty Comprlse:
The expendable endowrnent fund was Created by gifts a number of years ago. The
income of this trust is treated as unrestricted income. The terms of the endowment
allow the capital of the fund to be spent if Ihe Trustees so detemiine.
Investrnents
Investments are slated al mld-market value at the balance sheet date. The SOFA
includes the net gains and losses arising on revaluation and disposals throughout the
year.
2. GOVERNANCE
The Inn meets the Gost of remuneration, adviser8 and services by the audltors and other
professional advisors.
3. TRANSACTIONS WITH TRUSTEES
No Trustee, or person related or connected to them has receiv8d any remuneration or
reimbursem8nt of expenses from lh8 charity during the current or previous year.
4. INVESTMENTS
2024
2023
Market value 1 January
Additions at cost
Proceeds of disposals
1,790.087
619,125
581.988
1827,204
1.683,139
731,976
695.667
1719,488
Realised and Unrealised gainslllosses}
179 375
179,375
70,619
Market value 31 December
Historical cost 31 December
2,006,579
342,770
1.790 067
310,436
Indirect transaction costs are inGurred through the bid-offer spread on investments within pooled.

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
NOTES TO THE ACCOUNTS (Cont...
FOR THE YEAR ENDED 31 DECEMBER 2024
nificant investment holdin
s based at market value at 31 December
2024
2023
L&G International Index Trust
L&G Emerging Markets
L&G UK Index Trust
L&G Short Dated Steding Corporate
Bond Index Fund
L&G All Stocks Index Linked Gilt Index
Trust
L&G All Stocks Gill Index Trust
Ruffers Global Fund
43.50
13.00
14.75
19.58
872,894
260,841
295,965
392,888
45.49
13.23
25.69
814,260
263,805
459,817
4.48
89,930
4.69
94,061
25.69
100
459.817
1,790.067
100
2 006,579
5. ANALYSIS OF NET ASSETS BY FUND
2024
R88trlcted
Funds
Unrestrlctsd
Funds
Expendable
Endowment
Total
Fixed asset Investments
Net current assets
Total
432,352
196,567
628,919
1,574,227
2,006,579
201831
2 208.410
5,264
5,264
1 574 227
2023
Re8trlctod
Funds
Unrèstrlcted
Funds
Expendable
Endovmient
Total
Fixed asset investm8nl8
Net current assets
Total
353,953
166,3e5
520,318
1,436,114
1,790,067
171,168
1,961,235
4,803
1,436,114
6. DEBTORS
2024
2023
Accrued income
1.813
7. CREDITORS
2024
2023
other creditors
120
60

THE HONOURABLE SOCIETY OF LINCOLN'S INN
THE HERITAGE FUND
NOTES TO THE ACCOUNTS (Cont...)
FOR THE YEAR ENDED 31 DECEMBER 2024
8. RELATED PARTY TRANSACTIONS
The Honourable Society of Lincoln's Inn is one of the four Inns of Court. It is an ancient
unincorporated body of lawyers which for six centuries and more have had the power to call
lo the Bar those of their members who have duly qualified for the rank or deg￿e of Barrister-
at-law.
The fund was established by members or former members of The Honourable Society of
Lincoln's Inn and as laid out in its objectives when vacancies arise in Ihe body of Trustees the
Council of Benchers of The Honourable Society of Lincoln's Inn hold the power to appoint
replacements. The Trust8es are autonomous, All the expenditure incurred by them in support
of projects concerning the Heritage Property is initially incurred by Lincoln's Inn which is then
reimburs8d by the Trustees. The balance of the inlercompany a¢counl is now £14k and will
be transferred to the Inn during 2025.
9. FINANCIAL INSTRUMENTS
2024
2023
Flnancial assets al fair value through SOFA
2,006,579
1,790,067
Financial liabilities at amortised cost
120
60
Financial asset at fair value comprise investments in shares
Flnancial liabilities at amort15ed cost comprise sundry creditors and intercompany
balances.