Registered charity number: 1084419
Company nurnber (registered in England &Walesl: 04053417
The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
(a company limited by guarantee)
Consolidated financial statements
for the year ended
31 March 2024

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Consolldat¢d financial statements
for the year ended
31 March 2024
Contsnts
Report of the trustees
Auditors report
9- 11
Consolidated Statement of Financial Activities
12
Consolidated Balance Sheet
13
Consolidated Statement of Cash Flows
14
Notes to the financial statements
15-23

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Report of the Trustses
for the year ended
31 March 2024
The trustees Present their annual directors, report together with the consolidated financial statements of the charity and its
subsidiary for the year ending 31 March 2024 which are also prepared lo meet the requirements for a directors, report and
accounts for Companies Act Pltrposes.
The financial slalements comply with the Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of
Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of I￿land
IFRS102} {effective l January 2019).
Objectives and activities
Obj•¢ts
The objects of the charity are. To promote any charitable purpose in particubar the relief of poverty, sickness end distress.
the advancement of education, the preSe￿allOn and protection of health, the provision of public works and services and
public amenities and facilities for recreabon or other leisure lime occupation in the intere51s of social welfare. particularly
through the promotion of efficiency and good practice in local govemment.,
The charity's goveming documents pemil il to do anyihing lawful that is deemed necessary lo promote ils objects, indudin9
(inter alial.. employing staff., promoting, encouraging or undertaking study or research or disseminating the results of such.,
producing, printing and publishing anything in written, oral or visual media in furtherance of the objects., providing or
procuring the provision of services, training, consultancy, advice, support, counselling and guidance in furtherance of the
objects or any of them., promoting and supporting such legislative, social and administrative refom as may assist the
charitls objects., and, entering into any arrangements with any governments, authorities or any person, company or
association ne￿SSary to pmmote any ofthe charitws objects.
Aims and purpose
Strategic aims of the charity are focused on=
providing opportunities for local public Service leaders lo learn. develop and to network wth each other and with
conterllporaries from other areas of public life.,
influencing debates about the future of public services. to ensu￿ that poli¢y is infomied by the experience and
expertise of our members.,
building the integrity and reputation of public service management., and
supporting local public services to recruit and place the brightest and best lo their leadership roles.
The Solace group's purpose is..
to enable places to thrive by releasing the power and voice of people working in local public seNices
Achie￿Ments and perf0m￿nCe
The year to March 2024 saw the Solace group continue its path of Steady, sustainable growth wth revenue llsing lo over £11
million. Another positive year commercially for the s4Jbsidi8ry company, Solace In Business, eonlributed to the charity's
expansion of provision to the sector and ils support for individual members. The organisation has been transfomied in the
past few years with a growing capacity to make a recognisable impact on the health of the local govemment sector and the
success of individual members.
Professional membership of Solace increased by 218, or 13Vo, during 2023124 giving more local govemment employees
access lo the support that Solace is able to provide. We have also worked positively with our strategic partners, including the
Local Govemment Association, to build our and the sectorfs capacity, while our strong commercial success has ensured a
stable financial foundation on which to build both our ¢utYent provision and future ambitions.
Policy
Solace continues to act as an important source of local government insight for the national Government. Through Solace's
President and our policy leads, dsjring the past year we were able to ensure local govemment's professional voice was heard
c5earfy as important decisions were being made in )Miitehall. We also had ministers. shadow mini51ers and civil servants
attending our policy board, which meets monthly and providès an important sounding board for stakeholders as well as each
other.

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Report of the Trustees Icontinuedl
for the year ended
31 March 2024
Achievements and perf0M￿nce {cont'dl
Engagement with Govemment ￿sUIted in over 150 meetings during the year, as well as over 500 meetings with other
stakeholders. Engagement levels were maintained throughout Ihe year and enabled us to influence Govemrnent and other
key stakeholders on longer term issues, as well as on the immediate response to critical issues as they emerged.
Simultaneously, Solace still regulady contributed within sector and national media. This enables us lo create a wider
influence and ensure that the professional voice of local govemment is still heard. Solace contributed over 30 media articles
across the year, as well as 132 press mentions.
Member Engagement
The year ended March 2024 saw a significant increase in events attendance compared lo the prior year wth 2,209 attending
face-to-face activity, an increase of 350/0 on 2022123 attendance. Commercial sponsorship income has similady recovered
well since the impact of Covid-19 on our activities and supports the long term viability of our events programme.
The support that Solace provides to individual rnembers in their development has increased significantly in recent years.
During 2023124 we supported 256 individuals in coachin9, organised action leaming sets and facilitated appraisals and also
ran tailored one-day in-house courses for 294 attendees.
Le8dership development
The charity also supported the leaming of 1,226 individuals as part of OLtr organisational development activity across 64
organisalions lup from 51 organisations in the prior year). Overall, our most significant teadership development
programmes during the year included..
development of a new council Chief Executive programme in conjunction wth the Local Govemment Association,
th three modules successfully piloted and evaluated to support the Case for funding for the programme during
2024125.
Growth of our AMPlify programme aimed al empowering a diversity of senior managers and leaders across our
sector to progress in their careers, ensunng they can flourish and that their abilities are recognised and nurtured in
their councils.
Continued delivery of the national graduate development programme. which introduces high quality graduates lo a
career in local government.
The eleventh year of our Springboard programme for talented aspiring leaders from across the UK.
The ninth year of Total Leadership, an innovative partnership between Solace and the University of Birmingham
bringing the best of academic rigor together with practical hands-on experience to creale a career defining leaming
experience for Executive Leaders.
Further cohorts of our Ignite progrdmme for experienced council chief executives.
Continued expansion of our accredited public management and leadership programmes, including an Msc and
apprenticeship programmes delivered in partnership with the University of Birmingham.
Recrnitmènt support
The charity's trading subsidiary, Solace In Business, in the year to Mar¢h 2024 provided £673,910 to help support the
charitable aims of Solace. This includes support from our valued Business Partners, but most significantly the ￿tumS
from interim ￿¢ruItment, executive search and consultancy activity which is carried out on a 'profit-for-purpose' basis.
DLFring 2023124 this activity included around 100 permanent recruilmenls to the most senior roles in the sector a5 well as
having an extensive team of interim contractors and associates working across 78 different local authoritie5 UK-wde.
Key performance indi¢ators
In addition to detailed management accounts. a range of indicators are used by the Iruslees and executive management to
monitor and direct activilies as appropriate. These in¢lude monthly reporting and discussion of key opera*ional and impact
measures for each area of the group, refreshed annually as part of the business planning and budgeting process dependent
on the agreed focu5 for each area for the relevant period(sl. Examples include: income and margins,. sickness absence..
membership renewals and additions; number of leamers supported., number of organisations worked wlh,. conversion rates
for tendered activity,. associates utilisation., customer satisfaction.. and, website and social media perfomance (viewings,
click throughs and interactions).

The Society of Loeal Authority Chief Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees (continued)
for the year ended
31 March 2024
Public Benefit
The stated purpose of Solace is 'to help unleaslj the positive power of local government, On that foundational p￿rnIse,
the aims and activity of the charity provide benefits lo the public through a variety of means, including..
the promotion of efficiency and good practice in local govemment to facilitate better provision of public works, services
and amenities in the interests of social welfare.,
the promotion of knowledge, skills and competence amongst its members- being individuals tholly or mainly employed
as local authority chief executives and senior managers., and
promoting the cause of local govemmenl, including padiamentary lobbying and inff uence on policy discussions and
decision-making.
These benefits have this year been primanly o¢hieved through the achievements, perfomiance and activities highlighted
in this Report of the TTuslees.
In the furtherance of these aims the directors have complied with the duty in s.4 of the Charities Act 201110 have due regard
to the Charity Commission's published general and relevant sub-sector guidance conceming the operation of the public
benefit requirements under that Act.
Financial Review
Inveslmènt policy
Investment powers are governed by the Articles of Association. Currently there are no investment restrictions in place and
the investment objectives are.. a balance of capital growth and income from investments,. and, an overall medium tolerance
of risk. The investment is therefore tteld in a mixture of medium lo high risk investment portfolios. Financial gains from Ihe
current investments are automatically reinvested.
Investrnent perfomianee
Evelyn Partners continue lo manage an investment portfolio on behalf of the charity. The portfolio was valued at £157,496 on
31 March 2024, which includes an £11,900 gain on revaluation. In the year ended 31 March 2024 the￿ was an overall
£12,203 net increase in funds after investrnenl management charge5 Inole 131.
Whilst funds are invested in medium to high risk portfolios the investment manager has advised that 'lhe indirect investment
approach of the investment trust holdings within the portfolio are of a less risky nature than a single direct equity investment.
although technically the same risks apply due to the legal structure of investment trusts"
R0suIts for the year
Full details of the financial transactions are contained in the attached financial stalemenls.
Total income for the year was
After deducting expenditu￿ of
The net income l {exp8nditurel before recognised gains I (losses) wa$
The nel assets of the charitable groLtp at 31 March 2024 were
Available funds
11,274,168
11,333,677
1 750 758
Al 31 March 2024 the charity had freely available reserves fof ils general purposes amounting to
This comprises the balance in unrestricted funds, excluding langible fixed assels and investments.
Reserves Policy
The charity's reserves policy is based on the value of unrestricted reseNes excluding designated funds, wth a target of
covering 6 months operating Costs Icalculaled lo be £929,350 as al 31 March 2024) and a minimum of 3 months opemling
costs {£753,100 as at 31 March 20241. AI £1,050,376 Inole 211 the value of unreslri¢ted reserves excluding designated
funds as at 31 March 2024 compares favourably to the stated target ￿SerVeS level. In the event that future circumstances
require it, currently designated funds may be undesignated in order to address required needs.
Risks 8nd uncertainties
£1027850
Trustees have a duly to identify and review risks to ￿lch the charity is exposed and ensure appropriate controls are in
place, including the provision of ￿8$Onable assurance against fraud and error. The Iruslees therefore closely monitor the
operations of the charrty and ils trading subsidiary and review on a regular basi5 the nature of potential risks, their potential
impact, likelihood of occurrence and means of mitigating them. As part of this process the trustees consider the adequacy of
current intemal controls and their ongoing suitability.

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees {¢ontinued)
for the year ended
31 March 2024
Risks and un¢ertaintlos (cont'dj
Governmenl policy changes relating to andlor affecting the public sector are considered to be the principal risks and
uncertainties. These are primarily dealt wlh by slaying close lo the sector and through active engagement in policy
discussions, as already ￿ferenCed earfier in this report.
Proactive, effective engagement with Ouf members, partners and sector interest groups provides up-to-dale intelligence
which allows potential issues lo be identified in a timely manner. This enables the Solace group to plan and respond
accordingly based on sound management and control across all areas of the organisalion. including specific operational and
cost changes as necessary.
Flnancl81 rlsk management
The charity and ils subsidiary use financial instrument5 comprising cash and debtors. Their main purpose is to finance the
WO[*ing Capital cycle of the group. Policies for managing financial risks Open lo the group are".
Price risk
A range of suppliers a￿ used to ensure market prices are not exceeded. Contracts are used for the supply
of a range of goods and services and these are reviewed on a regular basis.
Customers are largely public sector organisalions vtho by their nature are considered 'low risk.. Many are
long-standing customers. Effective credit management procedures are also in place.
Returns on cash are maximised through utilising a range of interest bearing bank accounts.
A range of bank accounts are used which enable access to funds in line with cash flow projections and to
meet financial obligations as and when they fall due. In the event that ils operating cash flows do not cover
all financial obligations at a specific point in time, Solace In BuS￿nesS Ltd la wholly owned subsidiary) is able
to access arranged overdraft facilities. Group companies have a good relationship with their bankers.
Credit risk
Interest risk
Liquidity risk
Future Plans
In April 2024 a meeting of the Solace group board discussed and re-confimed priorities for the coming year. 2024 sees
the 50th anniversary of Solace in one guise or another so during the year we will be reflecting oft the role and impact of
the charity and its predecessors during the last fifty years of local govemment and also what the future might and should
hold for us a$ an organisalion. We will renew our strategic direction and set a course for the organisation that better
supports our members and local govemment as a whole for the nexi fity years.
During 2024125 continued focu5 on the followng organisational purpose. goals and priorities ag￿ed in March 2023 as
part gf a two-year plan will guide our day-towday activity. I
Future Plans.. 2030 goals
Sel the standard for the leaming and development of professional leaders and managers in UK local govemment
Be the influential voice in the UK for professional local govemment
Be the go-lo service for local govemmenl's talent management and leadership solutions
Key priorities ft)r 2024125
Over the final year of our Current business plan the goals set out above will be pursued by continuing to focus on the
following are8S'.
Positively marking the organisation's 50th anniversary by celebrating Ihe impact Solace and ils members have had on
local government over the past fifty years and reflecting on the secloff s, and its leadership profession's, current
strengths and challenges
Engage members in the futu￿ direction of Sola¢e and how best we can support the sector and our members into the
nexi fifty years
Taking action to promote equalities and inclusion and ensure the local govemment workforce is more representative of
those il serves
Deliver high quality, aspirational SUPFX)rt across all our individual setvices to help unleash the positive power of local
government across the UK
Strengthen Solace's lo￿￿terni future by maintaining a resilient, commercially viable, learning organisation across all
services

The Society of Local Authorty Chief Executives and Senior Managers {Solace Group) Ltd
Report of the Trustees Icontinuedl
for the year ended
31 March 2024
Kgypriorifyes for 2024125 (¢ontd)
Positively marking the organi$ation& 50th anniversary by celebrating the impact Solace and its membets Imve
had on local government over the past fiftyyears and reffe¢ting on the se¢torfs. and its leadership professions,
current str¢ngths and challenges
The first Solace AGM was held on 6th March 1974 and we hosted our 2024 Annual Dinner shortly after the anniversary date,
which provided us wth an opportLJnity to celebrate the past fifty years and the contribution that Solace and ils members have
made during that time. The dinner was also an opportunity to ¢elebrale all those who have made significant contributions to
the sector MO￿ generally.
The 2024 Solace Summit will be a fulure-focused event and explore with the usual selection of high quality speakers from
inside and outside of our sector- alongside facilitated discussions - how the nexi fifty years may develop for the future of the
sector and profession.
Engage membets in the future direction of Solace and how best we can support tho sector and our membern
into the next rrfty yea
The anniversary year creates an opportunity for Solace and its members to reflect and discuss the past, present and fvlure
of the profession. Bul il also takes place al 8 lime when a range of challenges are exposing weaknesses in the overall
capacity and quality of the profession. Solace has long campaigned for greater emphasis on the professional development of
local government leaders, the protection and enhancement of officers, roles in the wider assurance system of the sector, and
the need to attrnct greater numbers into the sector to ensure a strong and diverse pipeline of talent.
We wsll therefore use the year to further develop our thinking in this a￿a. We have already started working with Govemment
and the Local Govemmenl Association and piloted a MO￿ comprehensive programme for Chief Executives using the
Improvement Grant for England, building on research undertaken for our Leadership Academy project.
This creates a launchpad for wder engagemenl on the future of the Society and our role in the professional development of
our members across the UK. which could deliver a new approach to be launched during the anniversary year. It wll also be
important that this work links lo other work being done on improvement and assurance across the sector.
Taking action to promote equalities and inclusion and ensure the local goverrnnent workforce is mo
rgpresertatlve of those it serves
Our equality, diversity and inclusion project will continue to be a priority. Significant progress has been made on a ran9e of
specific actions. but we know thal significantly more is required including enssjring our approach threads through all Solace
extemal activity and also internally with our employee$ and associates.L,
We have established an outcomes framework which will help raise the profile of our activity, measure progress and hold us
and the sector to account. We have also started lo publish data and are running our AMPlify programme that specifically
supports the development of diverse talent within local government. It is important that the momentum created is not lost
and we will continue to priorilise this a¢tivity in the years ahead.
Deliver hlgh quality, aspirational support across all our individual seThices to help unleash the positive power of
local government across the UK
While both matl(ing the anniversary and reflecting on Solace's future will take some of our focus, it remains crucial that we
also priorilise maintaining and improving the high-qualrty services we provide to individual members. clients and the sector. 11
is only because we have steadily built the reputation of Solace lo deliver effectively that we can influence Government, other
sector stakeholders and individuals to achieve our lon*teTh objectives. As well as maintaining our own standards. this
includes working with the most challenged of councils to support them in navigating theirjoumey in circumstance where
other commercially focused organisations may not be so able, but also by being open and sharing the learning from those
and other councils lo develop the sector overall.
We wll therefore continue to closety monitor our service provision using the KPI approach that is tried and tested. This
includes continuing lo evolve Ihe approach to ensure our measures and analysis are insightful, targeted and proportionate.
Increased levels of engagement with members also provides an opportunity lo respond to feedback and adapt Ouf approach
in the short as well as longer temi, to better suit our customers needs.

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees (continued)
for the year ended
31 Mar¢h 2024
Strengthen Sola¢e'$ long-temT future by m8lntalnlng a resilient, commercially viab10. lèarning organisation
across 811 serwi¢es
Vvhile our pursuit of quality remains a priority, this is inleth.ned with the organisation's financial stability. In recent years
Solace has been able lo strengthen its financial position significantly and creale a context which has enabled us to ride
commercial challenges positively. The group's reserves and cashflow positions have also enabled choices and actions such
as our investment in a programme manager to lead our diversity and inclusion activity. This prioity and approach wll
continue lo ensure we are able lo continue lo make choices in the future.
Bul our resilience is not just financial and the Covid-19 pandemic in particular has demonstrated the importance of our
workforce. They responded resourcefully and positively to the challefjges and enabled u5 to navigate our way through
that challenging period. Recruitment and retention remain the most significant risks lo the business and we are
responding by investing significanlty rn0￿ in training and development and more regularly and consistently engaging our
employees. Our new office accommodation has been a significant step foward and provides an important a￿n8 for
engagement and cross-working to take place.
Structure, Governance and Management
Governing document
The charity is controlled by its governing document la deed of trust dated 9 January 19861, and conslitLtles a company
limited by guarantee (incorporated in England & Wales). 1115 govemed by Memorandum and Articles of Assorialion whiGh
were last amended and ratified by the company in general meeting on 17 October 2018.
Organlsational structure
The charity is governed by directors who are also the trustees of the charity. as listed on page 7. The directors are
responsible for administering the funds in accordance with the Trust Deed.
The directors meet a minimum of four times a year, to set organisalionol strategy and business plans and to review
operational and financial perfomance. When ¢arying out their govemance duties for the charity, the directors have regard
for the guidance on public benefit published by the Charity Commission.
Day to day responsibility for running the charity is delegated to the Managing Director and senior executive staff. based on
appropriate schemes of delegation detemined by the directors.
Recruitment and appointment of new directors
Directors of the charity are identified from within the membership and appointed at the Annual General Meeting.
Thlrd party indemnityprovision for dlrectors
The charity has third paty indemnity insurance in place covering all directors of the charity.
Induction and training of new directors
New directors receive an induction programme which includes information and guidance on the liabilitie5 and respOnsib￿litIeS
of company directors and charity trustees, a copy of the Memorandum and Articles of Association and background
information relating to budgets, forward plans and details of previous key decisions.
Dlsablllty and equality policy
All applicants for positions with the charity are given full and fair consideration. Employmenl, training and general policies are
applied equally to all affected individuals.
Pay policy for5eniorstaff
The directors consider that the board of directors (who are the charitls trustees) and the executive heads of service
comprise the key management personnel of the charity in charge of directing and controlling, running and operating the
charity on a day to day basis.
All non-executive directors give of their time freely in that capacity and no director received remuneratiori during the year
{2023.. £nill in connection ￿th their appointment or duties as a director of the charity. Detsils of directors, expenses a
provided in note 1110 the financial statements.

The Society of Local Authority Chief Execulives and Senior Managers (Solace Group) Ltd
Report of the Trustees (continued)
for the year ended
31 March 2024
Paypolicy forseniorstaff (cont'dj
Staff pay is reviewed annually. Recommendations relating to senior staff and executive directors are conSide￿d by the
non4xeculive directors on the Board or by a sub-committee of non-executive directors and relevant advisors. Any
agreed pay increase would generally be based on consideration of a range of potential influencing factors. such as
inflation measL*res and public sector pay awards. Market rates for comparable roles are a150 periodically considered,
particularly as part of recruitment 8¢tivities.
Directors and trustèes
The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers
serving during the year and since the year end were as follows..
Key management personnel: Trustees and Directors of
The Society of Local Authority Chief Executives and Senior Managers ISola¢e Group) Ltd
Specified elected roles..
Chair..
Finance lead..
Solicitor/Company Secretary..
President..
SIB Chair..
G L Jones
A J Steven
RALMeKoy
M V Prosser
REHyde
Other elected noTrexe¢utiVo directors..
J Burns
GKDoe
C Elliott
S H Fitzgerald
D E Forresler-Brown (resigned 19 October 2023)
P R Frainer
S J Gamer
SKHall
S P Hanson
AMHill
N S A Hussain-Duke
B M K Maryoram
C D Naylor
D V Plank
E Rogers
J L Roney
J R Rowlands
S L Sanders
D R Thomas
R G S Weaver
(appointed 7 November 2023)
(appointed 1 November 2023)
(appoint8d l November 2023)
(appointed 1 November 2023)
(ftsigned 16 June 2023)
(resigned 19 October 2023)
(appointed 1 November 2023)
Employed executive dffrector..
G V McDonald
Key management personnel:
Senior managers of
The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Managing Director
G V McDonald
Director of Corporate Resources
S R P Chambers
Direclor of Engagement
J A Howarth
Director of Leaming
T l Bifftll
Director of Policy, Partnerships & Public Affairs
A J B Thomson
Key management personnel:
Business Development Director
Director of Executive Resourcing & Assessment
Director of Interim Management
Senior managers of Solace In Business Ltd
T J McDougall
S J Guest
J K Mullinger
Our advisers
Auditors
SMH Jolliffe Cork Audrt Ltd, 33 George Street, Wakefield WF1 1LX
Lloyds Bank plc, 27-31 White Hart St￿et, High ￿¢0mbe, HP112HL
National Westminster Bank Plc, 23 Uplands Crescent, Swansea SA2 OMY
Bankers

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees (continued)
for the year ended
31 March 2024
Reference and admFnistrative details
Company number
Charity number
Registered office
4053417
1084419
Ground Floor, 2 Red Hall Court
Wakefield
West Yorkshire
WF12UN
Trustees, responsbbilities in relation to the finan¢ial statements
The charity trustees (who are also the directors of rhe Society of Local Authority Chief Executives and Senior Managers
(Solace Group) Ltd for the purposes of company lawl are responsible for preparing a trustees, annual report and financial
statements in accordance wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statement5 for each year which give a true and fair view of the
state of affairs of the charitable company and the group and of the incoming resources and application of resources,
including the income and expenditure. of the charitable group for that period. In preparing Ihe financial statements, the
trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent-
slate whether applicable UK accounting standards have been followed, subject to any material departures disclosed and
explained in the financial stalements.,
prepare the financial slalemenls on the 90ing concem basis unless it is inappropriate lo presume that the eharily will
continue in business.
The tnjstees are respollsible for keeping proper accounting records that disclose wth reasonable accuracy at any lime the
rinancial position of the charity and to enable them to ensure that the financial ststemenls compty with the Companies Act
2006. They are also responsible for safeguarding Ihe assets of the charity and the group and hence taking reasonable steps
for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the ¢orporate and financial infomation included on the
charitable companys website. Legislation in the United Kingdom governing the preparation and dissemination of financial
slalements may differ from legislation in olherjurisdiclion5.
Statement as to disclosure of information to the auditor
In so far as the trustees are awa￿ at the lime of approving the trustees, annual report..
there is no relevant information, being inforniation needed by the auditor in connection with preparing their report, of
which the group's auditor is unaware, and
the Iruslees, having made enquiries of fellow directors and the group's auditor that they ought lo have individualty taken,
have each taken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant
audit information and lo establish that the auditor is aware of that information.
Signed on
ehalf of the trustees on 20 September 2024
G L Jones
Tru51ee

Independent Auditorfs Report to the Members and Trustees of
The Society of Local Authortty Chief Executives and Senior Managers (Solace Group) Ltd
for the year ended
31 March 2024
Opinion on financial slatements
We have audited the financial statements of The Society of Local Authonly Chief Executives and Senior Managers {Sola¢e
Group) Ltd for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the
Consolidated and the Parent Charity Balance Sheet, the Consolidated Cash Flow Statement and the related notes. The
financial reporting framework that has been applied in their preparation is applicable18w and United Kingdom Accounting
Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic
of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the finaneial slatemenls..
give a true and fair view of the slate of the group's and the parent ¢harFtable company's affairs as at 31 March 2024.
and of the group's incoming resources and application of resources. including its income and expenditure, for the
year then ended.,
have been propedy prepared in accordance wth United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKII and applicable law. Our
responsibilities under those standards are further described in the Audilorfs responsibilities for the audit of the financial
slalemenls section of our ￿pOrt. We are independent of the charitable company in accordance with the ethical requirements
that are felevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance wth these 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 slalements, we have concluded that the tNstees' use of the going concern basis of accounting
in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating lo events or conditions
that, individually or collectively, may case significant doubl on the group's and the parent charitable company'5 ability to
continue as a going concern for a period of at least twelve months from ￿en the financial statements ar8 authorised for
issue.
Our responsibilities and the responsibilities of the trustees ￿th respect to going concem are described in the relevant
sections of this reF)Ort.
Other information
The trustees are responsible for the other information. The other infomiation comprises the infornalion included in the
Iruslees, annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial
slalements does not cover Ihe other information and, except to the extent otherwise explicitly slated in our report, we do not
express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infomTrtion and, in doing so,
consider whether the Other infomi8tion is materially inconsistent wth the financial slalements or our knowledge obtained in
the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misslalemenls, we are required 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 perfomied. we conclude that there is a
mal8rial misstatement of this other information, we are required to report that fact.
We have nothing lo report in this regard.
Opinion on other matter prescribed by the Companies A¢t 2006
In our opinion. based on the work undertaken in the course of the audit..
the infomiation given the Irustees, report (incorporating the directors. report prepared for the purp)ses of cornpany
lawl for the financial year for which the financial slalemenls are prepared is consistent with the financial statements..
and
the directors. report included wthin the trustees. report has been prepa￿d in accordance wlh applicable legal
requirements.

Independent Auditor's Report to the Members and Trustees of
The Society of Local Authority Chief Executives and Senior Managers ISola¢e Group) Ltd (continuad)
for the year ended
31 March 2024
Matters on which we are required to report by exception
In light of our knO￿edge and understanding of the group and parent charitable company and ils environment obtained in the
course of the audit. we have not identified material misslalements in the trustees, report.
We have nothing lo ￿ port in respect of the following matters ￿ere the Companies Act 2006 requires us to ￿pOrt to you if,
in our opinion..
the parent charitable Company has not kept adequate and sufficient accounting records, or ￿lUMS adequate for our
audit have not been received from branches not visited by us., or
the parent charitable companls financial statements are not in agreement with the accounting records and retums.. or
certain disclosures of Injslees, rerlluneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the trustees were not entiued to prepare the financial stalements in accordance with the small companies regime and
take advantage of the small companies exemption in preparing the directors report and from the requirement to prepare
a strategic report.
Responsibilities of trustees
As explained more fully in the Iruslees, responsibilities slalement, the Iruslees (who are also the directors of the charitable
company for the ptjrposes of company law) are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such intemal control as the tNslees delem)ine is necessary to enable the
p￿ParatIOn of financial statements that are free from material misstatement, whether due lo fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable
company's ability lo continue as a going concem, disclosing, as applicable, matter5 related lo going concem and using
the going concern basis of accounting unless the trustees either intend lo liquidate the group or the parent charitable
company or lo cease operations. or have no realistic alternative bul to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or e￿Or, and to issue an audilorfs 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 a5ways delect a material misslalemenl 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 statement$.
Irregularities, including fraud, are instances of non-cornpliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The
extent lo which our procedures are capable of delecling irregularities, including fraud is detailed below..
The extent to which the audit was considered capable of detecting irregulariti9$ including fraud
Our approach to identrfying and assessing the risks of material misstalemenls in respect of irregularities. including fraud and
non4ompliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities
and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable to the group through discussions with the trustees and other infomed
management which we considered may have a direct material effect on the financial statements or the operations of the
group and thereafter, the audit team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an
understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibility lo fraud, their knowledge of
actual, suspected and alleged fraud and considered the inlemal controls in place to mitigate risks of fraud and non-
compliance wth laws and regulations.
10

Independent Auditor's Report lo the Members and Trustees of
The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd (continued)
for the year ended
31 March 2024
The extent to which the audit was considered capable of detecting irregularities including fraud Icont'd}
To address the risk of fraud through management bias and ovefride of controls, we-.
perfomed anatytical procedures to idents'fy any unusual or unexpected relationships.,
lesled joumal entrie5 10 identify unusual transactions.,
assessed whether jLsdgements and assumption$ made in detemiining the accounting estimates were indicative of
potential bias and investigated the rationale behind signrficanl or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which
included, bul were not limited lo..
agreeing financial slalemenl disc105ures to underfying supporting documentation.,
reading the minutes of rneetings of those charged with governance.,
enquiring of management as to actu81 and potential litigation and claims and ￿VIewIng correspondence the group's
legal advisors.
The￿ are inherent limitations in our audit procedures desuibed above. The more removed that laws and regulations are
from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit
the audit pmcedures required to identify non-compliance with laws and regulations to enquiry of the directors and other
management and the inspection of regulatory and legal correspondence, if any.
Material misstalements that arise due to fraud can be harder lo delecl than those that arise from error as they may involve
deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at.. www.frc.org.ukJauditorsresponsibilities. This description foms part of our audilorfs report.
Use of our report
This report is made solely to the charitable company's members and trustees, as a body, in accordance with Chapter 3 of
Part 16 of th& Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charitable companls
members and Iruslees those matters we are required lo slate lo them in an auditorfs report and for no other purpose. To the
fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the
charitable companvs members and Iruslees as a boty, for our audit work, for this report, or for the opinions we have
fomied.
Sno
Clai
on FCA DChA {Senior Statutory Auditor)
for and on behalf of
SMH Jolliffe Cork Audit Ltd
Chartered Accountants and Statutory Auditor
33 George Street
Vvakefield, WF11LX
October 2024
11

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Consolidated Statement of Financial Affairs (including ¢onsolidaled income and expenditure account)
for the year ended
31 March 2024
Total
Funds
2024
Total
Funds
2023
Unrestricted Restricted
Funds
Funds
Unrestricted Restricted
Funds
Funds
Notes
INCOME
Donations
2.000
2,000
Income from charitable activities
2,753,684
529,404
3,283,088
2,212,356
235,514
2,447,870
Income from otheractivities
Commercial trading operations
7,964,657
7,964,657
8,152,422
8,152,422
Income from investments
24,423
24,423
5,913
5,913
Total income
10,744,764
529.404
11,274,168
10,370,691
235,514
10,606,205
EXPENDITURE
Cost of ftising ftinds
Investment management costs
Commercial trading operations
2.350
7,389,470
2,350
7.389.470
2,346
7,366,849
2,346
7,368,849
Expendtiure on charkable activities
Education & Training
Membership services
2,527,647
930,518
483.692
3.011,339
930,518
2,178,531
747.615
310,239
2,488,770
747,615
Loss on disposal of fixed assets
Total expenditure
10.849,985
483,692
11,333,677
10,295,341
310,239
10,605,580
Net income I (expenditure)
before Iransfers
{105,221}
45,712
159,5091
75,350
(74.7251
625
Gross transfers between funds
Net income I (expenditure)
before recognised gains l (losses)
{105.2211
45,712
159,509)
75,350
174,7251
625
Other rocognised gains l (losses)
Unrealised gains I (losses)
on inveslmenls
11,900
11,900
113.2781
{13,278}
Net movement
in fund$ for the year
193,3211
45,712
{47,6091
62,072
174,7251
{12,653)
Reconciliation of funds
Total fund5 bl
20
1.435,325
363,042
1,798,367
1.373.253
437,767
1,811,020
Total funds clfv
20
1 342 004
408 754
1750 758
1435 325
363 042
1798 367
The statement of financial activities includes all gains and losses recognised in Ihe year.
All income and expenditure derive from continuing activities.
The notes on pages 15 to 23 fom an integral part of these financial slatemenls.
12

The Socièty of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Consolidated Balance Sheet
asat
31 March 2024
Group
2024
Group
2023
Charity
2024
Charity
2023
Notes
Fixed assèts
Tangible assets
Investments
12
13
156,658
157,496
314,154
105,876
145,293
251,169
86,920
219 530
306,450
58,048
207,327
265,375
Total Fixed Assets
Current assets
Debtors
Cash at bank and in hand
Total Current Assets
14
2,106,503
1,541,497
3,648,000
1.834,066
1.730,820
3,564,686
495,866
1,500,610
1,996,476
389.252
1,488,400
1,877.652
Creditors: falling due
thin one year
15
2,210,761
2,012.065
1,008,327
897,562
Net current assets
1.437,239
1,552,821
988,149
980,090
Total assets less current liabilities
1,751,393
1,803,990
1,294,599
1.245.465
Provisions for liabilities and charges 16
635
5,623
Net Assets
1750 758
1 798 367
1 294 599
1 245 465
The funds of the charity
Unrestricted income funds
Restricted income funds
20
20
1,342,004
408,754
1.435.325
363,042
885,845
408,754
882.423
363,042
Total charity funds
1 750 758
1798 367
1 294 599
1245 465
The Iruslees have prepared group accounts in accordance wth section 398 of the Companies Act 2006 and section 138 of
the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies
Act relating to small companies and con51ilule the annual accounts required by the Companies Act 2006 and are for
circulalion lo members of the company.
The financi
statements were approved by the Tnjstees on
20 September 2024
and signed on their behalf by..
G L Jones
Truslee
The notes on pages 15 10 23 form an integral pari of these financial statements.
13

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Statement of Cash Flows and Consolidatod Statèment of Cash Flows
asat
31 March 2024
Group
2024
Group
2023
Charity
2024
Charity
2023
Cash flows from operating activities
Net movement in funds for the year
Adjustments for..
Depreciation
Unrealised investment Igainsl I losses
Re-invested dividend income
Fees netted off investment portfolio
Inte￿st received
Loss I Igainl on disposal of fixed assets
Decrease I (increase) in debtors
Increase I Idecff ase) in creditors
Increase I (decrease) in provisions
(47,609)
(12,653}
49,134
(38,0411
63,522
(11,900)
12,6531
2,350
{21,770)
3,475
{272,437)
198,696
14,9881
59,925
13,278
{2,371)
2,346
{3,542)
40,173
(11,900)
{2,653}
2,350
{19,7901
37,401
13,278
{2,371)
2,346
{1.90n
{468,615}
255,267
(64,066)
I1￿,614)
110,765
(52,714)
109,122
Cash generated from I (used in)
operating actlvities
93,314
220,431
Cash flows from investing activities
Inlèresl received
Fixed asset purchases
Released from managed portfolio
21,770
{117,779)
3,542
(17,527)
19.790
{69,045)
1,907
15,438)
Cash provided by I (usèd in)
investing activities
96,009
13,985
49,255
3,531
Cash flows from finaneing activities
In¢rease l {decrease) in cash
and eash equivalents in the year
1189,3231
1234,416)
12,210
63,583
Cash and cash equivalents at
the beginning of the year
1,730,820
1,965,236
1,488,400
1,424,817
Cash and cash equivalents
at the end of the year
1 541497
1730 820
1500610
1488 400
14

The Society of Local Authority Chief Executive$ and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Statement$
for the year ended
31 March 2024
1 Accounting polici•s
Basis of preparation
The financial slalements have been prepared in accordance with Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019} - (Charities
SORP IFRS 10211, the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the
Companies Act 20c￿.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at
historical cost or Iransaction value unless otherwise stated in the relevant accounting policy note(s).
The charity's functional and presentation currency is the pound slerfing £. All financial infomation presented has been
rounded to the nearest £, unless otherwise stated.
Basis of consolidation
The group financial statements consolidate the results of The Society of Local Authority Chief Executives and Senior
Managers (Solace Group) Ltd and ils subsidiary Solace In Business Ltd.
Subsidiary undertakings are included using the acquisition method of accounling. Under this method the group nel
incoming resources include the results of subsidiaries from the date of acquisition and lo the date of sale outside the
group in case of disposals of subsidiaries. The purchase consideratson has been allocated lo the assets and liabilities on
the basis of fair value al the dale of acquisition.
The trustees have taken advantage of the exemption afforded by section 408 of the Companies Act 2006 and a
separate Slalement of Financial Activities and income and expenditure account for the charity has therefore not
been presented.
Going concern
The fin8nci81 slalements have been prepared on a going concem basis. In preparing the accounts the Iruslees have
considered possible risks, events or conditions that might casl significant doubt on the ability of the charitable company
lo conb'nue as a going concem and therefore on the appropriate use of the going concern basis.
Regularty monitoring the operational and financial perfomance of the charity and its subsidiary is part of the routine
activities of executive management Imonthlyl and of the separate company boards Iquarterfy). This includes detailed
management accounts and the analysis of pipeline activity (income and margins), logether wth perfomance indicators
ranging from opportunity conversion rates lo customer satisfaction across all areas of aclivily. Financial forecasts for the
period through lo 31 August 2025 have - together vwth current reserves, cash balances and available overdraft facilities -
also been reviewed as part of that regular monitoring activity. Based on such reviews and related enquiries, the Iruslees
have concluded that there is a ￿aSOnable expectation that the ¢harilable company has adequate resources to continue
in operational existence for the foreseeable future and therefore they have continued lo adopt the going concem basis in
preparing ils financial statements.
Fixed assets
a) Fixed 8$5ets are initially recorded al historic cost.
b> Depreciation is provided lo write off the cost or valLsation, less estimated residual values, of all fLxed assets except
f￿ ehold land, over their expected useful lives. It is calculated at the following rates..
Improvements lo short leasehold propety
Over the term of the lease
Fixtures & Fittings
25Q/o on reducing balance
Computer equipment
20010 or 33D/o on cost
Fixed Asset investments
lllvestments in subsidiaries are stated al historical cost less provision for diminution in value. Other investments are
slated al fair value.
Income recognifjon
al Income from charitsble activities (including trading) in the fom of services is recognised in the relevant periodls) in
which the activity takes place or is earned. A¢livity income received in advance is defe￿ed until enlillement lo the
income has arisen at which lime it is credited lo the Statement of Financial A¢tivities.
15

The Society of Local Authority Chief Executives and Senior Managers (Solace Groupl Ltd
Notes to the Consolidated Financial Ststements {contlnued)
for the year ended
31 March 2024
Income recognition {conVd)
b) t)onations and voluntary income are accounted for when the charity is legally entitled to the income and the amount
can be quantified with reasonable accuracy.
C) Grant funding received for a specified area of the chaiity's Work or for a specific purpose is accounted for as
restricted funds. Grants received wthoul reslriclion are recognised when the charity has entitlement to the funds.
any perfomiance conditions attached to the grants have been met. il is probable that the income be received
and the amount Can be measured reliably and is not deferred.
d) Investment income is recognised on an accruals basis.
Gift aid distribution from subsidiary company to parent charity
Profits over and above those needed lo meet the wothing capital requirements of subsidiary companies are transferred
lo the parent charity by way of a gift aid dislribulion. As no legal obligation exists. the distributions in respect of the
current and comparative year represent amounts paid as al the balance sheet date.
Expenditure
a) All expenditure is accounted for on an accruals basis. VAT is recovered on relevant expenditu￿. Irrecoverable VAT
15 included Mrithin the relevant expense of the charity in the year in which il is incurred.
b) Activities in furtherance of the charilvs objectives include the direct costs of staff and propety together with the
Osls of projects and activities.
cl The Iruslees consider that management and administration costs of the charity are not material when taken in the
context of amounts spent on charitable activities. All members of slaff have been active in fulfilling the objectives of
the charity.
Support costs
Support costs relate lo functions that assist the work of the charity bul do not directly undertake charitable activities.
They include back office, finance. personnel, payroll and governance costs le.g. the preparation and examination of the
statutory accounts, the costs of directors meetings and the cost of legal advice on conslilulional matters). The bases on
which support costs have been allocated are sel out in note 10.
1.10 Operating leases
Rentals payable under operating leases are charged to Ihe Statement of Financial Activities on a straight line basis over
the lease term.
1.11
Pensions
The charity operates a defined contribution pension scheme. Contributions a￿ recognised in the Statement of Financial
Aclivilies in the period in which they become payable in accordance wlh the rules of the scheme.
1.12
Fund accounting
The charity has various types of funds for which it is responsible, and which require separate disclosure. These a
as follows..
Unrestricted fvnds
Funds are expendable at the discretion of the trustees in furtherance of the objects of the
charity.
Restricted funds call only be used for particular restricted purposes within the objectives of
the charity. These arise when funds are subject lo specsfic re5triclive conditions imposed
by fundersldonors or by the purpose of the grant.
The trustees may at their discretion set aside unrestricted funds for specrfic purposes.
Restrlcted funds
Deslgnated funds
2 Legal status and control
The charity is a company limited by guarantee. All members have agreed lo conlribyte an amount not exceeding £1
each to the assets of the company in the event of it being wound up.
The charity is controlled by its members. Membership of the charitable company is open lo individuals designated as
senior officers of local authorities in England. Seolland, Wales, Northem Ireland. the Channel Islands and the Isle of
Man. Membership is also open lo senior officers of any other board. authority or committee exercising local govemment
or public service functions in any of the indicated geographic areas.
Elected members of local authorities a￿ not eligible lo for membership of the charitable company. noknthstanding thal
they may be othefwise qualified.
16

The Society of Local Authorty Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Ststemenls (continued)
for the year ended
31 March 2024
3 Financial pÈrformance of the charity
The Consolidated Statement of Financial Activities includes the results of the charitvs wholly owned subsidiary company
(note 5}. which provides Interim placement and executive recnjitment services. The summary financial perfomiance of
the charity alone is as follows..
Unrestri¢tsd
Funds
Restricted
Funds
Total
2024
Totsl
2023
Donations
Gift aid distribution from trading subsidiary {note 5)
Income from investments
Income from charitable a¢livilies
2,000
673,910
22,443
2,753,684
3,452,037
2,000
673,910
22,443
3,283.088
3,981,441
761,820
4,278
2.447,870
3,213,968
529,404
529,404
Investment management fees
Expendilure on charitable activities
12,3501
13,458,165)
(8,4781
11,900
882,423
12,350)
{3,941,8571
37,234
11,900
1,245,465
12,346)
{3.236,385}
{24,763}
{13,2781
1,283,506
1483,692)
45,712
Net income
Unrealised gains l {losses) on investments
Total funds brought forward
Total funds carried forward
363,042
408 754
885 845
1294 599
1 245 465
Represented by..
Restricted income funds
Unrestricted income funds
408,754
885,845
1294 599
383,042
882,423
1 245 465
Total
Funds
2024
Total
Funds
2023
4 Income from charitable activities
Unrestricted
Restricted
Education and training
Membership activi118S
2,195,845
557,839
2 753 684
515,000
14,404
529 404
2,710,845
572,243
3 283 088
1,906,592
541,278
2 447 870
Restricted income relating to education and training represents grant funding received in relation to specified aclivilies.
5 Income from commercial trading operations
The charity has one wholly owned trading subsidiary, Solace In Business Ltd Inote 13), which is incorporated in England
and Wales and provides recruitment services to the public sector. Profits over and above those needed lo meet the
working capital requirements of the subsidiary are transferred lo the charity by way of a gift aid dislribulion. The
distribution amounts stated below are the total sums paid across wthin the relevant financial year.
The summary financial performance of Ihe subsidiary alone is as follows..
2024
2023
Tumover
Cost of sales and administration costs
Exception81 co$15
Interest receivable
7.964.657
{7,394.458}
8,152,422
{7.374,036)
6.467
1,635
1.980
Net profit
Taxation
572.179
786.488
4,988
720
Profit for the financial year
Gift aid distribution to parent charity
Retained in Subsidiary
577,167
787,208
{673,910)
{761,820)
17

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Ststèmènts (continued)
for the year ended
31 March 2024
5 Income from Commercial tradsng operations (convd)
2024
2023
The assets and liabilities of the subsidiary were..
Fixed assets
Current assets
Current liabilities
Provisions for liabilities and Charges Inole 161
Total net assets
69,758
1,654,696
{1,205,6301
16351
47,848
1,692,787
{1,120,080)
(5,6231
614 932
518 189
6 Invesiment income
2024
2023
Dividends
Bank and other interest
2.653
21.770
2.371
3,542
7 Investment management costs
2024
2023
Portfolio management
Stsff costs and numbers
2024
2023
Salaries
Social security costs
Pension costs
2,022,785
182,009
125,287
2 330 081
1,779,099
179,232
114.987
2 073318
The average monthly number of employees during the year was as follows..
Number
2024
Number
2023
Executive directors
Other staff
50
51
45
46
18

The Society of Lo¢al Authority Chief Exe¢utives and Senior Managers {Sola¢e Group) Ltd
Notes to the Consolidated Financial Statements (continued)
for the year ended
31 March 2024
Education
& Training
Memborship
Services
Total
2024
9 Expenditure on ¢haritable activities
Governance ¢osls (note 101
Support costs (note 101
Direet delivery
Central premises
IT support and consumables
Communications
Depreciation
Travel & subsi51ence
Irrecoverable VAT
Marketing
Bank interest and transaction charges
Inlemational relationships and support
Other costs
38,764
915,287
1,776,314
36.244
76,180
22,140
480,887
299,323
18,127
24,339
60,904
1,396.174
2,075,637
54,371
100,519
29,314
20,132
93,200
2,425
2,278
10,858
11,514
10,302
2,800
844
10.684
38,700
930518
40,172
31,646
103,502
5,225
3,122
10,684
59,901
3 941 857
21,201
3011 339
Expenditure on charitable activities was £3.941,857 (2023.. £3,236,385) of which £3,458.165 was unrestricted {2023-.
£2,926,146) and £483,692 was restricted12023.' £310,239).
10 Governance and support costs
Total
2024
Total
2023
Basis of
apportionment
Staff role$ and
time allocation
Support costs Govemance
Salaries and related
costs
1,392,607
36,190
1,428,797
1,308,448
Audit fee
Invoice
description
Invoice
description
Invoice
description
Invoice
description
8.210
8,210
8,514
Other professional and
legal fees
Board funning
costs
460
13,469
13,929
10,211
3,035
3,035
561
Sundry
expenses
3,107
3,107
7,856
1396 174
1457 078
1335 590
11 Stsff costs, trustee remuneration and expenses. and the cost of key management personnel
The key management personnel of the groLtp and the parent charity comprise the trustees and senior managers whose
names are listed on page 7. Total remuneration and employee benefits for key m2nagement personnel amounted lo
£764,909 (2023.. £749,146) including pension contributions of £56,363 {2023.. £56.414} This includes one trustee, G
McDonald12023: one trustee - G McDonaldl who ￿ceiVed remuneration relating to their contract of employment wth the
charity or its subsidiary.
The number of employees eaming rn0￿ than £60,000 per annum {including related pension conlribulions) is..
Group
Group
Charity
2024
2023
2024
Charity
2023
Between £60,001 and £70,000
Between £70,001 and £80,000
Between £80,001 and £90,000
Between £90,001 and £100,000
Between £100,001 and £110,000
Be￿een £110,001 and £120,000
Between £120,001 and £130,000
19

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidatsd Financial Statements (continued)
for the year ended
31 March 2024
11 Staff ¢o$ts. trustee remunerdtion and expenses, and the ¢ost of key management personnel l¢ont'd)
During the year ended 31 March 2024 no Iruslee (2023.. no trustee) received remuneration or benefits from the
charity for acting as, or in Connection with, Iheir appointment as a trustee of the charity. During the year one non-
executive trustee12023= three trustees) was reimbursed expenses totslling £7,77612023.. £11,138} including
£7,54212023.. £10,794) relating lo representing the organisalion at inlemational partner events.
12 Tangible fixed assets
Improvements
to short
leasehold
to property
Group
Fixtures and
fittings
IT
Computer
equipment
infrastructure
Total
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
244,907
39.317
(13,030)
271 194
43,096
6,014
{6,9311
288.003
117.779
(19,961)
43,560
28,888
28 888
385 821
Depreciation
At 1 April 2023
Charge for the year
Disposals
Al 31 March 2024
157,407
48,790
(9,5551
196642
24,720
9.957
(6,9311
182,127
63.522
(16,486)
229 163
1,766
3,009
3009
Net book value
At 31 March 2024
25 879
156 658
Al 31 March 2023
105 876
Improvements
to short
leasehold
to property
Charity
Fixtures and
fittings
IT
infrastruclure
Computer
equipment
Total
Cost
Al 1 April 2023
Additions
Disposals
At 31 Marth 2024
172,833
19.471
11,867
6,014
184,700
69,045
43,560
192 304
253 745
Depreciation
At 1 April 2023
Charge for Ihe year
Disposals
At 31 March 2024
120,482
34,617
6,170
3,790
126,652
40,173
1,766
155099
166 825
Net book value
At 31 March 2024
41 794
86 920
At 31 March 2023
20

The Society of Local ALrthority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Flnancial Ststemenls (continued)
for the year ended
31 March 2024
Group
2024
Charity
2024
13 Investments
2023
2023
Listed investments (managed portfolio)
Investment in subsidiaries
157,496
145,293
157,496
62,034
219 530
145,293
62.034
207 327
157 496
145293
Investment in subsidiaries
Subsldlary company
Nature of business
Number, class andpercentage of shares held
Net assots at 31 March 2024
Solace In Business Ltd, registered in England & Wales (Company No. 3150254)
Interim placement and executive recruitment
19 ordinary
£518,189
The activities and results of this subsidiary company a￿ summarised in nole 5.
Subsidiary company
Nature of business
Number, class and percentage of shares held
Net assets at 31 March 2024
SEL Business SeNices Limited, registered in England & Wales (Co. No. 87044241
Domant
20 ordinary
£20
{1 OO0/ol
Listed investments (managed portfolio
Total
Market value
Al 1 April 2023
Addilions
Revaluations
Management fees
Reclassification I transfer
At 31 March 2024
145,293
2,653
11.900
12,350)
157 496
Net book value
At 31 March 2024
At 31 March 2023
145 293
There are no investment assets outside the UK
Group
2024
Charity
2024
14 Dèbtors
2023
2023
Trade debtors
Other debtors
Amounls owed by group undertakings
Prepayments and accrued income
1,580,421
1,356,033
318
375,768
242,963
318
3,174
116,924
495 866
526,082
2 106 503
477,715
1834 066
145,971
389 252
Group
2024
Charity
2024
15 Creditors
Amounts falling due wthin 1 year..
Trade creditors
Other creditors
Corporation tax
Social security and other taxes
Amounts owed lo group undertakings
Accruals and deferred income
2023
2023
1,168,729
27,126
676,290
19,806
404,319
12,260
144,288
11,313
216,605
258.￿%5
93,620
92,023
5,557
644.381
897 562
804,301
2 210 761
1,057,904
2 012 065
498,128
1 008 327
21

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Note$ to the Consolidated Financial Statement5 (continued)
for the year ended
31 March 2024
16 Provisions for liabilities and charges
The charity is exempt from lax on In￿Me and gains falling wthin section 505 of the Taxes Act 1988 or section 252 of
the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
The trading subsidiary, Solace In Business Ltd, is not exempt from taxation (see note 51- Taxation for the year comprises
Cutrent and deferred tax. Current lax is recognised at the amount of lax payable using the rates and laws that have been
enacted or substantively enacted by the balance sheet dote. Deferred lax is recognised in respect of 811 timing
differences that have originated but not ￿VerSed al the balance sheet date. as set out below..
Group
2024
2023
Deferred tax
635
635
5,623
Deferred tsx
A¢¢olerated eapital allowances..
At 1 April 2023
Movement in year
At 31 Mareh 2024
5,623
4,988
635
17 Financial instruments
Solace In Business Ltd, a wholly owned subsidiary of the charity, has access to an approved overdrdft facility of
£150,000 available through National Weslminsler Bank Plc. That facility is cOVe￿d by 8 debenture in the bank's
standard fom, dated 27 August 2024, providing a floating charge over all propety and assets of the subsidiary
company. There is no guarantee provided by the charity in connection with the indicated facilrty. At 31 March 2024 the
unpaid balance drawn down against this facility was £nil.
18 Operating leases
As al 31 March 2024 ¢ommitrnents under non-cancellable operating leases were as follows=
Land &
Buildings
2024
Land &
Buildings
2023
Other
2024
Other
2023
Group
Due within one year
Due within ￿ to five years
Due over 5 years
40,000
150,000
173.333
363 333
4,657
Land &
Buildings
2024
Land &
Buildings
2023
Other
2024
Other
2023
Charity
Due within one year
Due within Im to five years
Due over 5 years
40.000
150,000
173.333
363 333
19 Pensions schemes
Deflned contributlon pension scheme
The charitable group operates a defined ¢onlribulion pension scheme for the benefit of all employees. Contributions to
the scheme for the year ended 31 March 2024 amounted to £125,287 (2023.. £114,987). This includes accrued
conlribution5 of £21.126 (2023.. £19,80SI included in other creditors Inole 151.
22

The Society of Local Authority Chief Executives and Senior Managers (Sotace Group) Ltd
Notes to the Consolidated Flnancial Ststements {continuèdl
for the year ended
31 March 2024
Balance at Net incoming
1 April
Resources
2023
Balance at
31 March
2024
20 Funds
Transfers
Unrestricted
General
Designated
1,120,261
315.064
1435 325
{69,885)
23,436
1,050,376
291,628
1 342 004
Restrictsd
Managerial leadership
Coaching & Mentoring
Sector research
Skills training
206,205
78,600
43,747
34,490
363 042
135,080
(18,9001
{35,9781
34,490
58,900
{58,900}
400,185
800
7,769
408 754
Designated funds:
The directors have identified that certain unrestricted funds should be ring-fenced as follows..
Branch reserves - representing the historic surplus or deficit accumulated through various geographically based
activities covering Solace Group members in Scotland, Wales, Northem Ireland and certain English regions.
Restricted funds..
M2nagerial leadership grant funding received lo subsidise the formulation and delivery of tailored programmes which
support public sector leaders and strategic managers in the development of their people and organisations lo meet
current and future sector challenges, demands and opportunities.
Grant funding ID provide subsidised coaching and mentoring for local authority senior managers.
Grant funding lo enable sector research and educationa5 events for local authority senior managers on key areas of
public policy such as health and elhnicily, diversity and inclusion.
Sufficient cash ￿SOurCeS a￿ held lo enable each of Ihe identified funds to be applied without any restrictions.
21 Analysis of Group net assets between funds
Funds balances at 31 March 2024 are
fepresented by..
Tangible fixed assets
Investments
Current assets
Creditors- amounts falling due within 1 year
Provisions for liabilities and charges
Unrestricted
Designated
Restricted
Total
156,658
157,496
2,947,618
{2,210,7611
635
1050 376
156,658
157,496
3,648,000
12,210,761)
635
1 750 758
291,628
408,754
291 628
408 754
22 Capital commitments
Cap¢tal amounts contracted 8131 March 2024 bul not provided for in these financial slalements amounted to £nil for the
group and charitable company {2023'. £nil).
23 Related Party Transactions
During the year ended 31 March 2024 the charity received a gifl aid distribution of £673,910 {2023.. £761,820) from
Solace In Business Ltd Inote 5).
Throughout the year lo March 2024 the charity made a cash facility available to Solace In Business Ltd (a wholly owned
subsidiary) lo draw down and repay on a flexible basis. Interest was charged al 5010 on month-end balances. The
maximum amount loaned to Solace In Business Ltd during the year was £185,000 and al 31 sl March 2024 the unpaid
amount oustanding was £nil.
Other related party transactions made by the charity dLsring the year ended 31 March 2024 were:
B Marjoram, a trustee of the charity, received payment of £2.27512023'. £nil) from the ¢hanly for professional
seNices supplied.
23