Registered charlty number: 1084419
Company number (registered in England & Wales): 04053417
The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
la company limited by guarantee)
Consolidated financial statements
for the year ended
31 March 2025

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Consolidated financial statements
for the year ended
31 March 2025
Contsnts
Report of the trustees
Auditors report
10-12
Consolidated Statement of Financial Activilies
13
Consolidated Balance Sheet
14
Consolidated Statement of Cash Flows
15
Notes to the financial ststements
16-24

The Society of Local Authority Chief Executlves and Senior Managers (Solace Group) Ltd
Report of the Trustees
for the year ended
31 March 2025
The trustees presenl their annual directors, report together with the consolidated financial slalements of the charily and its
subsidiary for the year ending 31 March 2025 which are also prepared to meet the requirements for a directors, report and
accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 20C6, Ihe Memorandum and Articles of
Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS102) {effective 1 January 2019).
Objectives and activities
Objects
The objects of the charity are. To promote any charitable purpose in particular the relief of povety, sickness and distress,
the advancement of education, the preservation and protection of health, the provision of public works and services and
public amenities and facilities for recreation or other leisure lime occupation in the interests of social welfare, particularly
through the promotion of efficiency and good practice in local government."
The charilvs governing documents permit il to do anything lawful that is deemed ne￿SSary to promote its objects. including
linter alial.. employing staff,. promoting. encouraging or undertaking sludy or research or disseminating the resulls 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 reform as may assist the
charitls objects., and, entering into any arrangements with any govemments, authorities or any person. company or
association necessary to promote any of the charity's objects.
Alms and purpose
Strategic aims of the charity are focused on..
providing opportunities for local public service leaders lo learn. develop and to network with each other and with
contemporaries from other areas of public life.,
influencing debates about the future of public services, to ensure that policy is infomied by the experience and
expertise of our members.,
building the integrity and reputation of public service management.. and
supporting local public servi￿$ to recruit and place the brightest and best to 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 services
Achievements and perforniance
So18￿ has enjoyed another successful year of progress, with a priority focus on 50th anniversary celebrations. Our
anniversary events, marketing and publications provided the backbone and rhythm to support the other business plan
priorities, with a series of regional activities as well as national. Whilst liming of the UK general election in July disrupted our
planned timetable, the profile of KPI targets and income generation was reshaped in the light of that and anniversary events
were adapted and rearranged as appropriale to give a solid end to the year and sound platform on which to develop and
grow through the next financial year.
This anniversary year was also used to engage our membership body, and staff, proactively in the future direction of the
profession and how Solace as an organisation can best support it. A consultation document was circulated lo all members in
October 2024, with related conversations culminating in an awayday in February 2025 for members of the sector policy
board and subsidiary company board as well as the main Solace board. Along with managemenl team sessions, this has
informed development of a strategic business plan 2025-30. Staff have responded positively to the proposed strategic
direction, including through focus groups.
Policy
The Solace 'Plal report- the second in a trilogy commemorating our 50th annivers8ry and providing a comprehensive
examination of the current state of local government in England and key policy asks - was published soon after Ihe general
election and sent to all relevant members of the new Govemment in addition to publicising through our usual channels. Al
the Solace Summit in October we published our 'Fast-forward' report which brought together contributions from across our
members discussing the future of local government.

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees Icontinued)
for the year ended
31 Mar¢h 2025
Achievements and performance {cont'd)
Policy (cont'd)
Engagement with Govemment resulted in 147 meetings dunng the year. Along with 468 meetings with other stakeholders.
this enables us to create a wider infiuence and ensure that the professional voice of local govemment is heard across all
levels of govemment and with stakeholders who partner and collaborate with the sector. Solace has seen ils work and
activity published in some 41 articles in extemal publications across the year, as well as 115 press mentions.
Appointment of a new Solace President from 1 st January 2025, along with several new members of the policy board during
the year. has seen a refresh of policy activity. The President has outlined four priorities for his two-year tenure - places,
people, equity, purpose- and these themes will run through the new strategic business plan and our events programmes,
including the Solace Summit in October 2025. A report on each theme will be published during 2025 & 2026, with work
commenced on the 'Place' report in the final quarter of 202425 for publication shortly before the July 2025 LGA conference.
Member engagement
At 31 March 2025 there were over 1,900 Solace members across all categories, with 84 /0 of local authorities acr05S the UK
covered by Solace membership. This continues the steady growth of recent years but was behind our growth target.
Following publication of the English Devolution White Paper in December 2024, il is likely that devolution and local
government reorganisation will impact on membership- individuals are assessing future uncertainty in the shape and
exislence of their local authority against the benefit of ongoing sola￿ membership and network of support. Currently 33 /tr of
our members are from authorities in tWO- tier areas, while we have over 80 members from combined authorities.
In light of the uncertain and volatile policy and financial environment for the sector, during the year our strategy for
membership recruitment has evolved. The focus is now on retaining individuals who initially receive membership as part of a
learning programme. This will take lime to work Ihrough and impact our retention and overall membership numbers as
individuals, complete programmes, bul il does provide a clearer focus for our activity. We are also working with colleagues
from combined authorities to ensure our offer remains relevant as increasing numbers of strategic authorities are created.
Membership will come into greater focus next year as a key change project in the strategic business plan 2025-30.
Over the year almost 1,400 delegates attended Solace-led online events and circa 1,450 delegates attending fac&lo-face
events. Importantly, 95 /0 of attendees were satisfied or very satisfied with sola￿ events through the year.
Leadership development
The charity also supported the development of 1,444 individuals as part of our leaming and leadership offer across a
range of programmes and sector organisations. The successful piloting of a new council chief executive programme was
significanl for Solace and the sector and will inform future development and expansion of our whole leadership pipeline
as a key strand of the strategic business plan 2025-30. Other significant leadership programme activity during the year
to March 2025 included..
AMPlify. a development programme designed to nurture and uplift diverse talent. was awarded the Best Talent
Programme Award according to the industry recognised body PLJblic SeNices People Management (PPMA)
growth of our AMPlify programme aimed at empowering a diversity of senior managers and leaders across our sector lo
progress in their careers, ensuring they can flourish and thal their abilities are recognised and nurtured in their councils
further cohorts of our Ignite programme for experienced council chief executives
rolled OLtI the twelfth year of our Springboard programme for talented aspiring leaders from across the UK
326 apprentices were supported across all programmes, with a 64 % qualification achievement rate in the academic year
ending August 2024 (which tracks to an ESFA 'good' rating} significantly above the target rate of 56 /.
98 % of Solace learning and development programme attendees were satisfied or very satisfied
programme development activily ranging from a new programme al strategic director level or equivalent to exploring the
potenlial for formal accreditation for some of our programmes alongside a CPD points system for events and short
courses to encourage continuous professional development
continuing to specifically support sector leaders on the challenges of working in a political environment, particularly in the
light of changes to the standards regime and the importance of wider ethical considerations
Recruitment support
The charitls trading subsidiary, Solace In Business Ltd, in the year to March 2025 provided £510,270 to help support the
charilable aims of Solace. This includes support from our valued Business Partners, but most significanlly the returns from
interim recruitment, executive search and consultancy activity which is carried out on a 'profit-for-purpose' basis.

The Society of Lo￿1 Authority Chief Executives and Senior Managers {Solace Group) Ltd
ReF)Ort of the Trustees {continued}
for the year ended
31 March 2025
Achievements and perforniance l¢ont'd}
Recruitment support (cont'd)
A positive start to the year helped insulate the recruitment business from market slowdown promoted by the July general
election. Business development opportunities through the autumn broughl activity levels back more strongly but both the
interim and permanent recruitmenl markets were then significantly disrupted in the final quarter- a traditionally strong quarter
for the company - by sector uncertainty following publication of the English Devolution White Paper in December.
In response to local government devolution and reorganisation proposals, Solace In Business has developed a strong and
comprehensive offer for Councils and for Solace members. Our offer was circulated to all members. pla￿d on the LGA'S
'LGR Hub, and will continue to be marketed and adapted as the situation develops. Further development of our consultancy
offer is also a key change activity in the strategic business plan 2025-30, helping to spread the achievement of commercial
return - and any uncertainty for the charills reliance on related retums and donations - across a breadth of services, while
leveraging the local govemment insight and expertise Solace has al ils disposal.
During the year to March 2025 Solace In Business assisted 78 different organisations UK-wide accessing inter5m and
consultancy support. We were again ranked in the top 10 providers of interim management services {aGross all sectors, nol
just local government) by the Institute of Interim Management {IlM}. noting the commitment to fair pay, transparent contracts
and meaningful placements.
Our business partner programme also remains an important contribLrtor to the charily. 11 has performed strongly this year and
is exceeding expectations in terms of income and Ihe number of partners involved. There also remains an important
symbiotic relationship between our event sponsorship, regional work and the business partner programme, where we aim lo
continue growth in the coming year.
Key performance indicators
sn addition to detailed management accounts, a range of indicators are used by the trustees and executive management to
monitor and direct activities as appropriate. These include monthly reporting and discussion of key operational and impacl
measures for each area of the group. refreshed annually as part of the business planning and budgeting process dependent
on the agreed focus for each area for the relevant periodls). Examples include= income and margins- sickness absence-,
membership renewals and additions,. number of leamers supported.. number of organisations worked wilh., conversion rates
for tendered activity.. associates ulilisation.. customer satisfaction., and, website and social media performance (viewings,
lick throughs and interactions).
Public Benefit
The stated purpose of Solace is 'lo help unleash the po&live power of local govemment,. On that foundational premise,
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 government to facilitate better provision of public works, services
and amenities in the interests of social welfare.,
the promotion of knowledge, skills and COTnpetence amongst its members - being individuals wholly or mainly employed
as local authority chief executives and senior managers., and
promoting the cause of local government, including parliamentary lobbwng and influence on policy discussions and
decision-making.
These benefits have this year been primarily achieved through the achievements, performance and activities highlighted
in this Report of the Trustees.
In the furtherance of these aims the directors have complied with the (Juty in s.4 of the Charities Act 2011 to have due regard
to the Charity Commission's published general and relevant sub-sector guidance concerning the operation of the publi
benefit requirements under that Acl.
Financial Review
Investment 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 held in a mixture of medium to high risk investment portfolios. Financial gains from the
current investments are automatically reinvested.

The Society of Local Authorty Chief Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees (continued)
for the year ended
31 March 2025
Financial Review Iconfd)
Investment performance
Evelyn Partners continue to manage an investment portfolio on behalf of the charity. The portfolio was valued al £166,156 on
31 March 2025, which includes an £7,877 gain on revaluation. In the year ended 31 March 2025 there was an overall £8,660
net increase in funds after investment managemenl charges (note 13).
Whilst funds are invested in medium to high risk portfolios the investment manager has advised that "the indirect investment
approach of the investment trust holdings within the portfolio are of a less risky nature than a single direct equity investmenl,
although technically the same risks apply due to the legal structure of investment trusts"
Results for the year
Full details of the financial transactions are contained in the attached financial statements.
Total income for the year was
After deducting expenditure of
The net income l (expendilurel before recognised gains l {losses> was
The net assets ofthe charitable group at 31 March 2025 were
Available funds
10.823,737
10,638,499
185 238
1943 873
At 31 March 2025 Ihe charity had freely available reserves for rts general purposes amounting to
This comprises the balance in unrestricted funds, excluding tangible fixed assets and investments.
Reserves policy
The charivs reserves policy is based on the value of unrestricted resetves excluding designated funds. with a target of
covering 6 monlhs operating costs (calculated to be £941,930 as at 31 March 20251 and a minimum of 3 months operating
osts {£776,910 as at 31 March 2025). At £1,165,091 (note 21) the value of unrestricted rese￿e5 excluding de5ignaled
fund5 as at 31 March 2025 compares favourably to the stated targel reserves level. In the event that future circumslances
require it, currently designated funds may be undesignated in order to address required needs.
Risks and uncertalnties
£1 189234
Trustees have a duty to identify and review risks to which the charity is exposed and ensure appropriate controls are in
place, including the provision of reasonable assurance against fraud and error. The trustees therefore closely montlor the
operations of the charity and its trading subsidiary and review on a regular basis 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 internal controls and their ongoing suitability.
During 202425 work commenced on the adoption of a refreshed risk management approach lo enhance the current annual
idenlificalion of key risks as part of business planning. The refreshed approach will be aligned lo implementation of the
strategic business plan 2025-30 following initial mapping of identified risks as part of the strategic business planning
developmeni process, with trustee monitoring and review integrated in the regular risk management activity cycle.
Initial risk mapping of Ihe new strategic plan shows that, as in previous years but possibly more amplified going fo￿ard, a
volatile political environment for local authorities and the wider public sector is a principal area of risk and uncertainly. This is
compounded by reorganisation for some in Ihe sector and by threats from the wider financial environment for the public
sector, both of which have potential lo particularly impact the market in which Solace operales. These uncertainties are
primarily dealt with by staying close to the sector and through active engagemenl in policy discussions wilh central
government and key sector stakeholders, as already referenced earlier in Ihis report.
From a financial risk perspective, identifying new income streams as well as growing existing income streams is key,
together with achieving the right balance between commercial and seclor (charitable) support within activity and
partnerships. Solace will continue to ensure its charitable mission is central whilst also continuing to seek appropriate new
incorne opportunities to support long term financial sustainability.
From a communications and marketing perspective key risks are not being able to effectively engage with core members and
clients and becoming less relevant to whal the sector fequires so that our brand becomes stale. Plans to strengthen our
corporate structure and capacity (operational and digitall will seek to mitigate these.
Proactive, effective engagement with members, partners and sector interest groups provides up-to-date intelligence which
allows potential issues to 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 organisation.

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Report of the Trustees {contSnued
for the year ended
31 March 2025
Financial risk management
The charity and its subsidiary use financi81 instruments comprising cash and debtors. Their main purpose is to finance the
working capital cycle of the group. Policies for man8ging financial risks open to the group are=
Price risk
A range of suppliers are 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 organisations who by their nature are Gonsidered 'low ri5k'. 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 its operating cash flows do not cover
all financial obligations at a specific point in time, Solace In Business Ltd (a wholly owned subsidiary) is able
to access arranged overdraft facilities. Group companies have a good relationship with their bankers.
Credrt risk
Interest risk
Liquidity risk
Future Plans
Strategic planning in a change-rich, volatile and uncertain environment
2024 marked the 50th anniversary of Solace. The world in 1974 was very differenl to that we face a half century later. It was
therefore timely over 2024-25 to assess and look afresh at how Solace is operating, building on its strength and growing in
areas which members have described as important for the fLrture sustainability of the sector.
Solace's unique selling point is Ihal it is of the sedor and for the sector. Every pound we earn goes to supporting our
members and the wider seclor. Solace is the only body representing all professional leaders in local government. advocating
on behalf of the local government workforce. Member SUNeys and qualitattve evidence highlight that Solace is a trusted
brand, bLrt trust is long earned and quickly lost.
To maintain relevance and ensure that the sector is supported through one of the mosl politically, economically and socially
volatile periods the UK has faced for some time, it is essential Ihal we reshape not just what we prioritise but also how we
operate and deliver our priorities. The support and guidance sought by members has increased, for example with traditional
governance norms being tested. and this trend is expected to continue for the foreseeable future.
The Solace group is also mindful of the conslrained resources in which public services are operating. In developing future
plans and designing future operations, Solace will seek to invest to build capacity thal is focused on.. growing our support
offer to professionals in the sector- maximising relums so that every pound earned supports our members and the sector,.
and, ensuring that we can operate sustainably a5 a membership body with our charitable mission at the heart.
Solace mission and future objectives 2025-30
Solace's mission is to champion local government and local government careers. Solace champions by providing both
support and challenge to the people employed in councils to help them be the best they can. Solace helps councils to focus
on their people because when employees thrive so do their counci15. communities and place.
This mission is framed by the four priorities sel by our President: place, people, equity, purpose.
Solace has a pivotal thought leadership role lo play in how the sector leads local places. Solace will reimagine and reinvest
in the role of senior and middle management officer leadership - our people. We will nurture and celebrate whal our
colleagues do, harness and retain future talent and support the next generation of local authority officer leaders which reflect
and represent our communities and Ihe hidden wealth in our places.
We will make progress on furthering equality, diversity and inclusion al all levels in local govemment, and on shifting power
lowards equity, listening to unheard voices, acting with humility and honesty about the challenges we face into the future.
Local government chief executives and senior managers - the people Solace represents, supports and invests in - have the
privilege of purpose, undertaking a professional role Ihat means they make a difference to everyday lives. Our work will
advocate for the importance of purpose lo a good life. to enable a suslainable future and provide a powerful offer for future
leaders in our sector.

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Report of the Trnstses {continuedl
for the year ended
31 March 2025
Future Plans Icont'd)
2025-30 key objectives for delivery
Four key objectives have been identified to underpin achievement and delivery of our mission to champion local govemmenl
and local government Gareers, each of which is indicated below along with related key activity.
Key performance indicators for each objective were finalised as part of strategic business plan and progress is monitored by
the board of sola￿ and, where relevant. the subsidiary company Solace In Business Ltd.
Objective 1.. Building our professional network
Our first objective is to strengthen the connections sola￿ has across local government. A larger Solace network will foster
collaboration. knowledge-sharing and lead to better outcomes for Councils and those they support. We will undertake the
following strategic activity to achieve this objeclive..
Deliver a successful, cornprehensive virtual and faCe-tO-fa￿ national events programme.
Provide a strong and effective marketing and communications activity plan to encourage greater membership take-up
and improve renewal rates.
Strengthen and further develop regional branches ensuring a more consistent approach to delivery and lo encourage
greater member take-up.
Deliver an impactful and effective engagement programme with current and future private sector partners including
through our business partner programme and other events and roundtables.
Provide and deliver effeclive engagement mechanisms with and lo the sector including frequent updates to our regular
ommunications products and channels {e.g. the weekly Policy Briefing), monthly member webinars and collaborative
work with stakeholders.
Make best use of dala and market intelligence, including demographic analysis of our members, to deliver high quali(y
and informed services.
Objective 2.- Raising our voice and impact
We will advocate for the value and importance of local government and its leaders and be the 'go to, professional voice in
shaping the future of local governmenl in how we improve our places, support our people, further equity and act with
purpose. We will achieve this by doing the following activities..
Ulilise the role of our President and the Chair of each board to raise our collective voice including through the bi-annual
President report.
Provide a clear and consistent message, speaking as one Solace voice through delivery of high-quality
communications.
Drive fO￿ard the President's priorities wilh a focus on regularly engaging with senior civil servants and govemment
ministers on key strategic policies.
Deliver insightful thought leadership and effective lobbying on behalf of the sector through a range of media {e.g.
articles, letters, briefings. bespoke roundtableslworkshops).
Provide and deliver effective engagement and collaboration with strategic partners {e.g. MHCLG), other membership
bodies (e.g. LGA), third parties (e.g. think tanks) and business partners on common causes, where relevant.
Objectlve 3.. Tackling the barriers to better local government
We will help local government perform at ils absolute besl through improved capacity and skills, championing high standards
of responsibility, promoting equality, diversity, inclusion and ensuring leaders better represent the communities they serve.
We will undertake the following strategic activity to demonstrate progress in achieving this objective..
Develop and deliver a leadership and management framework for professional leaders and development programme for
middle managers.
Maintain and enhance Solace's role as a sector wide champion for equalities, diversity and inclusion.
Deliver quality assured programmes of professional development across all stages of careers to develop a strong
pipeline of talent for now and the future.
Provide high quality, bespoke recruitment and assessment and interim seNices lo Ihe public seclor nationwide.
Champion and develop professional slandards and ethics in local govemment including through leadership of a
commission into professional standards and elhics.
Raise the profile of local govemmenl as a career choice through work with stralegic partners, including the Local
Government Association and MHCLG.

The Society of Local Authority Chief Executives and Senbor Managers (Solace Group) Ltd
Report of the Trustees {¢ontinuedl
for the year ended
31 March 2025
Future Plans {¢ont'd)
202&30 key objectives for delivery (Cont d)
Objective 4.. Committing to being a responsible organisation that sets the highest stsndards of govemance and
support
We act with high standards of professionalism ensuring thal we deliver for the benefit of the sector and the wider public
good. Specific activities which help us achieve this will include..
Embedding high quality leaming and development and recruitment practice that builds a diverse and professional
workforce and associate base.
Review of financial systems to ensure they are robust. sustainable, fit for purpose and aligned to our long-term mission.
Refreshed governance arrangements. including process for recruitment and renewal to the Board(s).
Adopt a refreshed approach to risk management.
Review currenl digital capacity (hardware and people) and processes {effective use of syslems) and identify next steps
improvement actions to ensure Solace is operationally fit for future purpose.
Develop an effective internal communications strategy and programmes across Ihe organisation, including mechanisms
to celebrate and recognise employee success.
Structure, Governance and Management
Governlng document
The charity is controlled by its governing document (a deed of trusl dated 9 January 1986), and constitutes a company
limited by guarantee (incorporated in England & Wales). It is govemed by Memorandum and Articles of Association which
were last amended and ratified by the company in general meeting on 17 October 2018.
Organisational structure
The charity is govemed by directors who are also the trustees of the charity, as listed on page 8. The directors are
responsible for administering Ihe funds in accordance with the Trust Deed.
The directors meet a minimum of four times a year. to set organisational strategy and business plans and to review
operational and financial perfomiance. When carrying out their governan￿ duties for the charity, Ihe directors have regard
for Ihe 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 determined by the directors.
Recruitment and appointment of new directors
Directors of the charily are identified from within the membership and appointed at the Annual General Meeting.
Thirdpaty indemnitypmvision for director5
The charity has third paty indemnity insurance in place covering all directors of the charity.
Induction and tralning of new dir￿torS
New directors re￿1ve an induction programme which includes information and guidance on the liabilities and responsibilities
of company directors and charity trustees, a copy of the Memorandum and Articles of Association and background
information relating lo budgets, forward plans and details of previous key decisions.
Disability and equality policy
All applicants for positions with the charity are given full and fair consideration. Employment, training and general policies are
applied equally to all affected individuals.
Pay policy for senior staff
The direclors consider that the board of directors (who are Ihe charity's 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 remuneration during the year
(2024.. £nil) in connection with their appoinlmenl or duties as a director of the charity Details of directors, expenses are
provided in note 11 to the financial statements.

The Society of Local Authority Chief Executives and Senior mar￿gerS (Solace Group} Ltd
Report of the Trustees {continuedl
for the year ended
31 March 2025
Structure, Governance and Management {cont'd)
Pay policy for senlor staff {cont'd)
Staff pay is reviewed annually. Recommendations relating to senior staff and executive directors are considered by the
non-execulive directors on the Board or by a sub-committee of non-execLrtive directors and relevant advisors. Any
agreed pay increase would generally be based on Gonsideration of a range of potential influencing factors, such as
inflation measures and public sector pay awards. Market rates for Gomparable roles are also periodically considered,
particulady as part of recruitment activities.
Directors and trustees
The directors of the charilable company {the charity) are its trustees for the purpose of charity law. The trustees and officers
serving during Ihe 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 (Solace Group) Ltd
Specified elected roles..
Chair..
Chair..
Finance lead..
Solicitor
President..
President..
SIB Chair..
K R O'Dwyer
G L Jones
A J Steven
RALMcKoy
R J Tuddenham (appointed 1 January 2025)
M V Prosser
(resigned 31 December 2024J
REHyde
Other elected non-executive directors..
J Burns
GKDoe
C Elliott
S H Fitzgerald
P R Frainer
S J Gamer
SKHall
S P Hanson
AMHill
(appointed 1 November 2024)
(resigned 18 Ocfober 2024)
N S A Hussain-Duke
B M K Marjoram
C D Naylor
D V Plank
E Rogers
J L Roney
D R Thomas
R G S Weaver
(resigned 18 October 2024)
I￿signed 18 October 2024)
Employed executive director..
G V McDonald
Key management personnel: Senior managers of
The Society of Local ALrthority Chief Executlves and Senior Managers (Solace Group) Ltd
Managing Director
G V McDonald
Director of Corporale Resources
S R P Chambers
Director of Engagement
J A Howarth
Director of Leaming
T l Birtwell
Director of Policy. Partnerships & Public Affairs
A J B Thomson
Key management personnel: Senior managers of Solace In Buslness Ltd
Business Development Director
T J McDougall
Director of Executive Resourcing & Assessment
S J Guest
Director of Interim Management
J K Mullinger
Our advisers
Auditor5
SMH Jolliffe Cork Audit Ltd, 33 George Street, Wakefield WF1 1LX
Lloyds Bank plc, 27-31 While Hart Street, High Wycombe, HP112HL
National Westminster Bank Plc, 23 Uplands Crescent, Swansea SA2 ONY
Bankers

The Society of Local Authority Chlef Executives and Senior Managers (Solace Group) Ltd
Report of the Trustees (continued)
for the year ended
31 March 2025
Reference and administrative details
Company number
Charity number
4053417
1084419
Registered office
Ground Floor. 2 Red Hall Court
Wakefield
West Yorkshire
WF12UN
Trustees, responsibilities in relation to the financial statements
The charity trustees (who are also the directors of The Society of Local Aulhority Chief Executives and Senior Managers
(Solace Group) Ltd for Ihe purposes of company lawl are responsible for preparing a trustees, annual report and financial
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements 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 the financial statements, the
trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and prinaples in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK accounling standards have been followed, subject to any material departures disclosed and
explained in the financial slatements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume Ihat the charity will
continue in business.
The trustees are responsible for keeping proper accounting records Ihat disclose with reasonable accuracy at any time the
financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act
2006. They are also responsible for safeguarding the asset5 of the charily 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 corporate and financial information included on the
charitable companls website. Legislation in the United Kingdom governing the preparation and disseminalion of financial
statements may differ from legislation in other jurisdiclions.
Statement as to disclosure of information to the auditor
In so far as the trustees are aware at the time of approving the trustees. annual report:
there is no relevant information, being information needed by Ihe auditor in connection with preparing their report. of
which the group's auditor is unaware. and
the trustees, having made enquiries of fellow directors and the group's auditor that they ought to have individually taken,
have each taken all steps that helshe is obliged to tske as a director in order to make themselves aware of any relevant
audit infomalion and to establish that the auditor is aware of that information.
Signed on behalf of the trustees on 19th September 2025
K R O'Dwyer
Trustee

Independent Auditor's Report to the Members and Trustees of
The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
for the year ended
31 March 2025
Opinion on financial ststsments
We have audited the financial statements of The Society of Local Authority Chief Executives and Senior Managers (Sola
Group) Ltd for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the
Consolidated and the Parent Charity Balance Sheet, the Consolidated Cash Flow Statement and the relaled notes. The
financial reporting framework that has been applied in their preparation is applicable law 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 PraGtice>.
In our opinion the financial statements..
give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 March 2025,
and of the group's incoming resources and application of resources, including its income and expenditure, for the
year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordan￿ with International Slandards on Auditing (UK) {ISAs {UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities fof the audit of the financial
statements section of our report. We are independent of the charitable company in accordance with 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 ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
oblained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting
in the preparation of the financial stslements 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 case significant doubl on the group's and the parent charitable companls ability to
continue as a going concern for a period of at least twelve months from when the financial statements are aLrthorised for
issue.
Our responsibilities and the responsibilities of the truslees with respect to going concern are described in the relevant
sections of this report.
Other information
The trustees are rest)onsible for the other information. The olher information comprises the information included in the
trustees, annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial
statements does not cover the other infomiation and, except to the extenl 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 lo read the other information and, in doing so,
consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge obtained in
the audit or olhewise appears to be malerially misstated. If we identify such malerial inconsistencies or apparent material
misstatements, we are required lo determine whether there is a material misstatement in the financial statemenls 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 to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit-.
the information given in the truslees, report lincorporaling the directors, report prepared for the purposes of company
law) for the financial year for which the financial statements are prepared is consistent with the financial statements.,
and
the directors, report included within the trustees, report has been prepared in accordance with applicable legal
requirements.
10

Independent Auditor's Report to the Members and Trustees of
The Society of Local Authority Chief Executives and Senlor Managers ISola¢e Group) Ltd (continued)
for the year ended
31 March 2025
Matters on which we are required to report by exception
In light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the
course of the audit, we have not idenlified material misstatements in the Irustees, report.
We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report to you rf,
in our opinion..
the parent charitable company has not kept adequate and sufficient accounting records, or retums adequate for our
audit have nol been received from branches not visited by us; or
the parent charitable companvs financial statements are not in agreement with the accounting records and retums., or
certain disclosures of trustees, remuneration specified by law are nol made.. or
we have not re￿IVed all the information and explanations we require for our audit.. or
the trustees were not enlitled to prepare the financial statements in accordance wilh the small companies regime and
take advantage of the small companies exemplion in preparing the directors report and from the requirement to prepare
a strategic report.
Responsibilities of trustses
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the charitable
company for the purposes of company law) are responsible for the preparation of the financial statements and for being
satisfied thal they 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 material misstatement, whelher due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable
company's ability to continue as a going concern, disclosing, as applicable, matters related to goin9 concem and using
the going concern basis of accounting unless the trustees eilher intend to liquidate Ihe group or the parent charitable
company or to cease operalions, or have no realistic allernalive but to do so.
Audltorfs responsibilities for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the finanaal statements as a whole are free from
material misstatement. whether 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 {UKI will always detect 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 expecled to influence the economic
decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, lo delect material mi5Stalements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting irregularities, inciuding fraud is detailed below-
The extent to which the audit was considered Capable of detecting irregularitie5 including fraud
Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and
non-complian￿ with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competen￿, capabilities
and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable lo Ihe group through discussions with the Irustees and olher informed
management which we considered may have a dired material effect on the financial statements or the operalions of the
group and thereafter, the audit team remained alert to InStan￿S of non-compliance Ihroughout the audit.
We assessed the susceplibility of the group's financial slatements to material misstatement, including obtaining an
understanding of how fraud mighl occur. by..
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud and considered the internal controls in place to mitigate risks of fraud and non-
compliance with laws and regulations.

Independent Auditor's Report to 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 2025
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 override of controls, we:
perfomied ana1￿ICal procedures to identify any unusual or unexpected relationships-
tested joumal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias and investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which
included, but were not limited to..
agreeing financial statement disclosures lo underlying supporting documentation,.
reading the minutes of meetings of those charged with govemance-,
enquiring of managemenl as to actual and potential litigation and claims and reviewing correspondence with the group's
legal advisors.
There are inherent limitations in our audit pro¢edures described above. The more removed that laws and regulations are
from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing slandards also limit
the audit procedures required to identify non-complian￿ with laws and regulations to enquiry of the directors and other
management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect 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 stalements is located on Ihe Financial Reporting
Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
Thi5 report is made solely to the charitable companls members and trustees, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so thal we mighl stale to the charitable company's
members and trustees those matters we are required to stale to them in an auditor's report and for no olhei purpose. To the
fulSest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the
charitable companrfs members and trustees as a body, for our audit work, for this report, or for the opinions we have
formed.
Claire Lawion FCA DChA (Senior Statutory Auditor)
for and on behalf of
SMH Jolliffe Cork Audit Ltd
Accountants and Statutory Auditors
33 George Street
Wakefield, WFI 1 LX
26 September 2025
12

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Consolidated Statement of Financial Affairs (including consolidated income and expenditure account)
for the year ended
31 March 2025
Total
Funds
2025
Total
Funds
2024
Unrestricted Restricted
Funds
Funds
Unrestricted Restricted
Funds
Funds
Notes
INCOME
t)onations
2,000
2,000
Income from charitable activities
2,690,267
599,604
3,289,871
2,753.684
529,404
3,283.088
Income fron7 Other activities
Commercial trading operations
7,505,020
7,505,020
7,964,657
7,964,657
Income from investments
28,846
28,846
24.423
24,423
Total incomè
10,224,133
599,604
10.823,737
10.744,764
529,404
11,274,168
EXPENDITURE
Cost ol raising funds
Investment management costs
Commercial trading operations
2,552
6,982.628
2,552
6,982.628
2,350
7,389,470
2,350
7,389,470
Expenditure on charitable aGtivities
Education & Training
Membership services
2,271,764
844,041
537.514
2,809,278
844,041
2,527,647
930,518
483,692
3,011,339
930,518
Total expenditure
10,100,985
537,514
10,638,499
10,849,985
483.692
11,333,677
Net income I (expenditure)
before transfers
123,148
62.090
185,238
1105,221)
45,712
(59.509)
Gross transfers between funds
Net income I (expenditure)
before recognised gains l {losses
123,148
62,090
185.238
(105,221)
45,712
159,5091
Other recognised gains I Ilossesl
Unrealised gains l (losses)
on investments
7,877
7,877
11,900
11,900
Net movement
In funds for the year
131,025
62,0
193,115
(93,321)
45,712
147,6091
Reconciliation of funds
Total funds bl￿d
20
1.342,004
408,754
1,750,758
1,435.325
363,042
1,798.367
Total funds clfvid
20
1473 029
470 844
1 943 873
408 754
1750 758
The statement of financial activities includes all gains and losses recognised in the year.
All income and expendilure derive from continuing activities.
The notes on pages 16 to 24 form an integral part of these financial statements.
13

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Consolidated Balance Sheet
asat
31 March 2025
Group
2025
Group
2024
Charity
2025
Charity
2024
Notes
Fixed assets
Tangible assets
Investments
12
13
117,639
166,156
283,795
156,658
157,496
314,154
69.559
228,190
297.749
86,920
219,530
306,450
Total Fixed Assets
Current assets
Debtors
Cash at bank and in hand
Total Current Assets
14
1,344,437
2,232,699
3,577,136
2,106,503
1,541,497
3.648,000
393,386
1,894,201
2,287,587
495.866
1,500,610
1,996,476
Creditors: falling due
WFthin one year
15
1,917.058
2,210.761
1,111,245
1.008,327
Net current assets
1,660,078
1,437,239
1,176,342
988.149
Totsl assets less current Ilabilities
1,943,873
1,751,393
1,474,091
1,294,599
Provisions for liabilities and charges 16
635
Net Assets
1943 873
1 750 758
1474 091
1294 599
The funds of the charity
Unrestricted income funds
Restricted income funds
20
20
1,473,029
470.844
1.342,004
408.754
1,003.247
470,844
885.845
408,754
Total charity funds
1943 873
1 750 758
1474 091
1294 599
The trustees have prepared group accounts in accordance with 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 lo small companies and constitute the annual accounts required by the Companies Act 2006 and are for
circulation to members of the company.
The financial statements were approved by the Trustees on
19th September 2025 and signed on their behalf by..
K R O'Dwyer
Trustee
The notes on pages 1610 24 form an integral part of these financial statements.
14

The Society of LoGal Authority Chief Executives and Senior Managers {Solace Group) Ltd
Statement of Cash Flows and Consolidated Statement of Cash Flows
asat
31 March 2025
Group
2025
Group
2024
Charity
2025
Charity
2024
Cash flows from operating activities
Net movemenl in funds for the year
Adjustments for..
Depreciation
Unrealised investment (gains) I losses
Re-invested dividend income
Fees netted off investment portfolio
Interest received
Loss l (gain) on disposal of fixed assets
Decrease l {increase} in debtors
Increase l (decrease) in creditors
Increase l (decrease) in provisions
193,115
(47,609)
179,492
49,134
50,659
17.877)
{3.335)
2,552
(25,511)
63,522
(11,900)
{2,653)
2,350
(21,770)
3,475
(272,437)
198,696
{4.988)
23,189
{7,877)
{3,335)
2,552
(24,005)
40,173
111,900>
12,653)
2,350
(19.790>
762,066
(293,703)
{635)
102.480
102,918
(106,614>
110,765
Cash generated from I (used inl
operating activities
677,331
93,314
375,414
61,465
Cash flows from investing activities
Interest received
Fixed asset purthases
Released from managed portfolio
25,511
(11,640)
21,770
(117,779)
24,005
(5,828)
19,790
(69,045)
Cash provided by l (used in)
investlng activities
13,871
96,009
18,177
49,255
Cash flov￿ from financing activities
Increase l (decrease) in cash
and cash equivalents in the year
691,202
(189,323)
393,591
12,210
Cash and cash equivalents at
the beginning of the year
1,541.497
1,730.820
1.500,610
1,488,400
Cash and Cash equivalents
at the end of the year
2 232 699
1541497
1894 201
1500 610
15

The Society of Local Authority Chief Executlves and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Statements
for the year ended
31 March 2025
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019) - (Charities
SORP IFRS 102}), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Companies Act 2￿6.
The charity meets the definition of a public benefit entily under FRS 102. Assets and liabilities are initially recognised at
historical cost or Iransaction value unless othewise stated in the relevant accounting policy nolels}.
The charity's functional and presentation currency is the pound sterling £. All financial informalion 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 its subsidiary Solace In Business Ltd.
Subsidiary undertakings are included using the acquisition method of accounting. Under this method the group net
incoming resources include the results of subsidiaries from the dale of acquisrtion and to the date of sale outside the
group in case of disposals of subsidiaries. The purchase consideration has been allocated to the assets and liabilities on
the basis of fair value at the date of acquisition.
The trustees have taken advanlage of the exempiion afforded by section 408 of the Companies Act 2006 and a
separate Slatemenl of Financial Activilies and income and expenditure account for the charity has therefore not
been presented.
Going concern
The financial statements have been prepared on a going concern basis. In preparing the accounts the trustees have
considered possible risks, events or conditions that might cast significant doubt on the ability of the charitable company
to continue as a going concern and Iherefore on the appropriate use of the going concern basis.
Regularly monitoring the operational and financial performance of the charity and its subsidiary is part of the routine
activities of execLrtive management (monthly) and of the separate company boards (quarterly). This includes detailed
management accounts and the analysis of pipeline activity {income and margins), together with perf0rrnan￿ indicators
ranging from opportunity conversion rates to customer satisfaction across all areas of activity. Financial forecasts for the
period through lo 31 August 2026 have - together with 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 truslees
have concluded Ihal there is a reasonable expectation that the charitable company has adequate resources to continue
in operational existence for the foreseeable future and therefore they have continued to adopt the going concern basis in
preparing its financial statements.
Fixed assets
al Fixed assets are initially recorded at historic cost.
bl Depreciation is provided to wrste off the cost or valuation, less estimated residual values, of all fixed assets except
freehold land, over their expected useful lives. It is calculated at the following rates..
Improvements to short leasehold property
Over the term of the lease
Fixtures & Fittings
25% on reducing balance
Computer equipTnent
20/0 or 33% on cost
Fixed Asset investments
Investments in subsidiaries are stated at historical cost less provision for diminulion in value. Other investments are
stated at fair value.
Income recognition
a) Income from charitable activities (including trading) in the form of services is recognised in the relevant periodlsl in
which the aclivity takes place or is earned. Activity income received in advance is deferred until enlitlement to the
ncome has arisen at which time it is credited to the Statement of Financial Activities.
16

The Society of Local Authority Chief Executlves and Senior Managers {Solace Group) Ltd
Notes to the Consolidated Financial Statements Icontinued)
for the year ended
31 March 2025
Income recognition (cont'dl
b} Donations and voluntary income are accounted for when the charity is legally entitled lo the income and the amount
can be quantified with reasonable accuracy.
c) Grant funding received for a specified area of the charitvs work or for a specific purpose is accounted for as
reslricted funds. Grants received without restriction are recognised when the charity has entitlement to the funds.
any perfomiance conditions attached to the grants have been met, it is probable that the income will 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 Ihose needed to meet the working capilal requirements of subsidiary companies are transferred
to the parent charity by way of a gift aid distribution. As no legal obligation exists. the distributions in respect of the
Cu￿ent and comparative year represent amounts paid as at the balance sheet date.
Expenditure
a) All expenditure is accounted for on an accruals basis. VAT is recovered on relevant expenditure. Irrecoverable VAT
is included within the relevant expense of the charity in the year in which it is incurred.
b} Activities in furtherance of the charitys objectives include the direct costs of staff and property together with the
costs of projects and adivities.
c) The trustees consider thal management and administration costs of the charity are not material when taken in the
context of amounts spent on charitable activities. All members of staff have been active in fulfilling the objectives of
the charity.
Support costs
Support costs relale lo funclions that assist the work of Ihe charity but do not directly undertake charitable activities.
They indude back office, finan￿, personnel. payroll and govemance costs {e.g. the preparation and examination of the
stalulory accounts, the costs of directors meetings and the cost of legal advi￿ on constilulional matters). The bases on
which support cosls have been allocated are set out in note 10.
1.10 Operating leases
Rentals payable under operating leases are charged to the 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 are recognised in the Statement of Financial
Activities in the period in which they become payable in accordance with 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 are
as follows:
Unrestrictod funds
Funds are expendable at the discrelion of the trustees in furtherance of the objects of the
charity.
Restricted funds can only be used for particular restricted purposes within the objectives of
the charity. These arise when funds are subject to specific reslrictive conditions imposed
by fundersldonors or by Ihe purpose of the grant.
The trustees may at their discretion set aside unrestricted funds for specific purposes.
Restricted funds
Designated funds
2 Legal status and control
The charity is a company limiled by guarantee. All members have agreed to contribute an amount nol exceeding £1
each to the assets of the company the event of it being wound up.
The charity is controlled by its members. Membership of the charilable company is open to individuals designated as
senior officers of local authorities in England, Scotland, Wales, Northern Ireland, the Channel Islands and the Isle of
Man. Membership is also open to senior officers of any olher board, authority or committee exercising local govemment
or public Se￿iCe functions in any of the indicated geographic areas.
Elected members of local aulhorities are not eligible to for membership of the charitable company. nolwithstanding thal
they may be otherwise qualified.
17

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notss to the Consolidated Financial Statements (continued)
for the year ended
31 March 2025
3 Financial performance of the charty
The Consolidated Statement of Financial Activities includes the results of the charitvs wholly owned subsidiary company
(note 5), which provides Interim placement and execulive recruitment seNices. The summary financial performance of
the charity alone is as follows..
Unrestricted
Funds
Restrictsd
Funds
Total
2025
Total
2024
Donations
Gift aid distribution from trading subsidiary (note 5)
Income from investments
Income from charitable activities
2.000
673,910
22,443
3,283,088
3,981,441
510,270
27.340
2,690,267
3,227,877
510.270
27,340
3,289,871
3.827,481
599,604
599,604
Investment management fees
Expendilure on Gharitable activitie5
Net income
(2,552)
(3,115,800)
109,525
12,552)
(3.653,314>
171.615
12.350)
{3,941.8571
(537,514)
62,090
37.234
Unrealised gains l (losses) on investments
Total funds brought forward
Total funds carried forward
7,877
885.845
7.877
1,294,599
11,900
1,245,465
408,754
1003 247
1474 091
1 294 599
Represented by..
Restricled income funcls
Unrestricted income funds
470,844
1,003,247
1474 091
408,754
885,845
1294 599
Total
Funds
2025
Total
Funds
2024
4 Income from charitable activitie5
Unrestricted
Restricted
Education and tfaining
Membership activities
2,123,767
566,500
2 690 267
585,000
14,604
599 604
2.708,767
581,104
3 289 871
2.710,845
572,243
3 283 088
Restricted income relating to education and training represenls granl funding received in relation to specified activities.
5 Income from commercial trading operations
The charity has one wholly owned trading subsidiary, Solace In Business Ltd {note 131, which is incorporated in England
and Wales and provides recruitment services to the public sector. Profits over and above those needed to meet the
working capital requirements of the subsidiary are transferred to the charity by way of a gift aid distribution. The
distribution amounts stated below are the total sums paid across within the relevant financial year.
The summary financial performance of the subsidiary alone is as follows..
2025
2024
Income
Cost of sales and administration costs
Exceptional costs
Interest receivable
7,505,020
{6,983,263)
7,964,657
{7,394,458}
1.506
1.980
Nel profit
523,263
572.179
Taxation
635
4,988
Profil for the financial year
Gfft aid distribution to parent charity
Retained in subsidiary
523,898
577,167
{510,270)
(673,910)
18

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Statements {continued)
for the year ended
31 March 2025
5 Income from commercial trading operations {cont'd)
2025
2024
The assets and li8bilities of Ihe subsidiary were..
Fixed assels
Current assets
Current liabilities
Provisions for liabilities and charges (nole 161
Total net assets
48,100
1,310,941
1827,2241
69,758
1,654,696
(1,205,630)
{635)
518 189
531817
6 Investment income
2025
2024
Dividends
Bank and other interest
3,335
25,511
28 846
2,653
21,770
24 423
7 Invostment management costs
2025
2024
Portfolio management
8 Staff costs and numbers
2025
2024
Salaries
Social security costs
Pension costs
2,050,726
186,239
128,748
2 365 713
2,022.785
182,009
125,287
2 330 081
The average monthly number of employees during the year was as follows..
Number
2025
Number
2024
Executive directors
Other staff
49
50
50
51
19

The Society of Local Authority Chief Executives and Senior Managers {Solace Group) Ltd
Notes to the Consolidated Financlal Statements (continued)
for the year ended
31 March 2025
Education
& Training
Membership
Services
Totsl
2025
9 Expenditure on Charitable activities
Governance costs {nole 10)
Support costs {note 10)
Direct delivery
Central premises
IT support and consumables
Communications
Depreciation
Travel & subsistence
I￿eCOVerable VAT
Marketing
Bank interest and transaction charges
Intemalional relationships and support
Other costs
33.756
965.944
1,595.648
30.836
79,170
16.721
463,948
261,507
14,644
29,302
50,477
1,429,892
1,857,155
45,480
108,472
16,921
11,185
57,322
1,780
2,347
6,268
9,780
5,686
1,683
869
5,111
28.522
23,189
20,965
63,008
3,463
3.216
5,111
42,891
3653 319
Expenditure on charitable activities was £3,653,319 {2024'. £3,941,857) of which £3,115.805 was unrestricted {2024-.
£3,458,165) and £537,514 was restricted12024.' £483,692).
10 Governance and support Costs
14,369
2 809 278
Total
2025
Total
2024
Basis of
apportionmeni
Staff roles and
time allocation
Invoice
description
Invoice
description
Invoice
description
Invoice
description
Support costs
Governan¢e
Salaries and related
costs
1,425,987
37,084
1,463,071
1,428,797
Audit fee
9.165
9,165
8,210
Other professional and
legal fees
Board running
costs
115
124
239
13,929
4.104
4,104
3.035
Sundry
expenses
3,790
3,790
3,107
1429 892
1 480 369
1457 078
11 Staff costs, trustee remuneration and expenses, and the c05t of key management personnel
The key management personnel of the group and the parent charity comprise the trustees and senior managers whose
names are listed on page 8. Total remuneration and employee benefits for key management personnel amounted to
£783,658 (2024= £764,909) including pension contributions of £56,346 (2024.. £56,363). This includes one trustee, G
McDonald12024.' one trustee - G McDonald) who received remuneralion relatin9 to their contract of employment with the
charity or its subsidiary.
The number of employees earning more than £60,000 per annum (including related pension contribulions) is:
Group
Group
Charity
2025
2024
2025
Charity
2024
Between £60,001 and £70,000
Between £70,001 and £80,000
Between £80,001 and £90,000
Between £90,001 and £100.000
Be￿een £100,001 and £110,000
Between £110,001 and £120,000
Be￿een £120,001 and £130,000
20

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notss to the Consolidated Financial Statements (continued)
for the year ended
31 March 2025
11 Staff costs, trustse remuneration and expenses, and the cost of key management personnel (cont'd)
During the year ended 31 March 2025 no trustee (2024= no trustee) received remuneration or benefits from the
charity for acting as, or in connection with their appointmenl as. a trustee of the charity. During the year three non-
execLrtive trustees {2024.' one trustee) were reimbursed expenses totalling £4,137 {2024: £7,776) including £3,504
{2024.' £7.542) relating to representing the organisation at international partner events.
12 Tangible fixed assets
Improvements
to short
leasehold
to property
Group
Fixtures and
rittings
IT
Computer
equipment
infrastructure
Total
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
43,560
28,888
271,194
5.828
42,179
5,812
(6,769)
385.821
11,640
{6,769)
43 560
277 022
390 692
Depreciation
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
1.766
4,356
3.009
6,470
196,642
30,098
27,746
9,735
{6,769)
229,163
50,659
(6,769)
273 053
226 740
30712
Net book value
At 31 March 2025
37 438
At 31 March 2024
156 658
Improvements
to short
leasehold
to property
Charity
Fixtures and
fittings
IT
infrastructure
Cornputer
equipment
Total
Cost
At 1 April 2024
Additions
Disposals
43,560
192.304
5,828
17,881
253.745
5,828
{1.622)
257 951
{1,622)
Al 31 March 2025
198 132
Depreciation
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
1,766
4,356
155,099
14,954
9,960
3,879
{1,622)
166,825
23,189
{1,622)
170 053
188 392
Net book value
At 31 March 2025
At 31 March 2024
21

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Statements {continued)
for the year ended
31 March 2025
Group
2025
Charity
2025
13 Investments
2024
2024
Listed investments (managed portfolio)
Investment in subsidiaries
166,156
157.496
166,156
62,034
228 190
157,496
62,034
219 530
166 156
157496
Investment in subsidiaries
Subsidiary company
Nature of business
Number, ¢lass and percentage of shares held
Net assets at 31 March 2025
Solace In Business Ltd. registered in England & Wales {Company No. 3150254)
Interim placement and executive recruitment
19 ordinary
{100 /.)
£531,817
The activities and results of this subsidiary company are summarised in note 5.
Subsidiary company
Nature of business
Number, class and percentage of shares held
Net assets at 31 March 2025
SEL Business Services Limited, registered in England & Wales {Co. No. 8704424)
Dormant
20 ordinary
£20
{1CQ%I
Llsted investments (managed portfolio)
Total
Market value
At 1 April 2024
Additions
Revalualions
Management fees
Reclassification I transfer
At 31 March 2025
157,496
3.335
7,877
12,552)
166 156
Net book value
At 31 March 2025
At 31 March 2024
157496
There are no investment assets outside the UK
Group
2025
14 Debtors
Charity
2025
2024
2024
Trade deblors
Other debtors
Amounts owed by group undertakings
Prepayments and accrued income
999,539
1,580,421
248,829
375,768
21.391
123,166
393 386
3,174
116.924
495 866
344,898
1 344 437
526,082
2 106503
Group
2025
15 Creditors
Amounts falling due within 1 year:
Trade Greditors
Other creditors
Corporation tax
Social security and other laxes
Amounts owed to group undertakings
Accruals and deferred income
Charity
2025
2024
2024
714,446
24,286
1,168,729
21,126
308,472
18,186
404,319
12,260
224,727
216,605
111,625
93,620
953,599
1 917 058
804,301
2 210 761
672,962
1 111 245
498,128
1008 327
22

The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Statements (continued)
for the year ended
31 March 2025
16 Provisions for liabilities and charges
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of
Ihe Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects.
The trading subsidiary. Solace In Business Ltd, is nol exempt from taxation (see note 5). Taxation for the year comprises
current and deferred lax. Current tax is recognised at the amount of tax payable using the rates and laws that have been
enacted or substantively enacled by the balance sheet date. Deferred lax is recognised in respect of all liming
differences that have originated but not reversed at the balance sheet date, as set out below..
Group
2025
2024
Deferred tax
635
635
Deferred tax
Accelerated capital allowances..
At 1 April 2024
Movement in year
At 31 March 2025
635
635
17 Financlal Instruments
Solace In Business Ltd. a wholly owned subsidiary of the charity. has access to an approved overdraft facility of
£150,000 available Ihrough National Westminster Bank Plc. That fa￿litY is covered by a debenture in the bank's
standard form, dated 27 August 2024, providing a floating charge over all property and assets of the subsidiary
company. There is no guarantee provided by the charity in connection with the indicated facility. At 31 March 2025 the
unpaid balan￿ drawn down against this facility was £nil.
18 Operating leases
As at 31 March 2025 commitments under non-cancellable operating leases were as follows..
Land &
Buildings
2025
Land &
Buildings
2024
Other
2025
Other
2024
Group
Due within one year
Due within two to five years
Due over 5 years
40,000
150,000
133,333
323 333
4,657
40,000
150,000
173,333
363 333
4,657
Land &
Buildings
2025
Land &
Buildings
2024
Other
2025
Other
2024
Charity
Due within one year
Due within two to five years
Due over 5 years
40,000
150,000
133,333
323 333
40,OCN)
150,000
173,333
363 333
19 Pensions schemes
Defined contribution pension scheme
The charitable group operates a defined contribution pension scheme for the benefit of all employees. Contributions to
the scheme for the year ended 31 March 2025 amounted to £128,74812024.' £125,287). This includes accrued
contributions of £21,877 {2024.' £21,126) included in other creditors (note 15).
23

The Society of Local kuthority Chief Executives and Senior Managers (Solace Group) Ltd
Notes to the Consolidated Financial Statements {contlnued)
for the year ended
31 March 2025
Balance at Net incoming
1 April
Resources
2024
Balance at
31 March
2025
20 Funds
Transfers
Unrestricted
General
Designated
1,050,376
291,628
1342 004
114,715
16,310
131 025
1,165,091
307,938
1473 029
Restricted
Managerial leadership
Coaching & Mentoring
Sector research
Skills training
400,185
800
7,769
70,659
(800}
{7,769}
470,844
408 754
Designated funds:
The directors have identified Ihal ￿rtain unrestricted funds should be ring-fen￿d as follows..
Branch rese￿eS - representing the historic surplus or deficit accurnulated through various geographically based
activities covering Solace Group members in Scotland, Wales, Northem Ireland and certain English regions.
Restricted funds:
Managerial leadership grant funding received to subsidise the formulation and delivery of tailored programmes which
support public sector leaders and strategic managers in the development of their people and organisations to meet
current and future sector challenges, demands and opportunities.
Grant funding to provide subsidised coaching and mentoring for local authority senior managers.
Grant funding to enable sector research and educational events for local authority senior managers on key areas of
public policy such as health and ethnicity. diversily and inclusion.
Sufficient cash resources are held lo enable each of the identified funds to be applied without any restrictions.
21 Analysis of Group net assets between funds
Funds balan￿S at 31 March 2025 are
represented by=
Tangible fixed assets
Investments
Current assets
Creditors= amounts falling due within l year
Provisions for liabilities and charges
Unrestricted
Designated
Restricted
Total
117,639
166,156
2,798.354
(1,917,058)
117,639
166,156
3,577.136
{1,917.0581
307.938
470.844
1 165091
307 938
1943 873
22 Capital commltments
Capital amounts contracted at 31 March 2025 but not provided for in these financial statements amounted lo £nil for the
group and charitable company12024.' £nil>.
23 Relatsd Paty Transactions
During the year ended 31 March 2025 the charity receNed a gift aid distribution of £510,270 (2024.. £673,910) from
Solace In Business Ltd {note 51.
Throughout the year to March 2025 the charity made a cash facility available lo Solace In Business Ltd la wholly owned
subsidiary) to draw down and repay on a flexible basis. Interest was charged at 5% on monlh-end balances. The
maximum amount loaned to Solace In Business Lld during the year was £175,000 and al 31st March 2025 the unpaid
amount oustanding was £nil.
Other related paty transactions made by the charity during the year ended 31 March 2025 were..
B Maryoram, a trustee of the charity, re￿iVed paymenl of £1,625 (2024.. £2,275) from the charity for professional
services supplied.
24