DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. Limited RF.PORT AND FINANCIAL ST ATF.MF.NTS REGISTERED COMPANY NUMBER.. 0092J876 REGTSTERED CHARTTY NUMBER.. 254623 FOR THE YEAR ENDED 31st MARCH 2025
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. Limited CONTENrs Page Trnstees, Annual Report Indepeiident Auditor'5 Report Statement of Finan¢ial A¢tivities Balance Sheet Notes to the Finan¢ial Statements
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. LiTNited TRIISTEES, ANLIAL REPORT FOR THE YEAR ENDED 31st MARCH 2025 Reference and administrative information Tru5te¢5 Mr R Tager Ire5igiied 2810212025} Mr SJ Tager Iresigned 17101120251 Mr JP Tager (resigned 17101120251 Mr MJ Blake (appointed 1511212024} Mr PM Kremen lappointed 15112120241 Company Secretary Mr CM Frommer Compally registered nutnber 00923876 Charity regi5teTed number 254623 Registered office Roineo House 160 Bridport Road London N18 ISY Independent Auditor Mwre Kingsion Smith LLP 9 Appold Street Loiidon EC2A 2AP Page.. I
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solcv Co. Limited TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are director5 for the PUTpose5 of conipany law, present the aniiual report to¥ether with the rinancial staiements and independent auditoWs rerJ)rt of Ihe charitable company for Ihe year ended 31 March 2025. Objectives and aetivities Oljjects aim.$ The company was established to further those purposes, both in the Uiiited Kingdom and abroad, which are recognised as chgritable by English law. The charity receives income from its investments and from associated undertakings, iiicluding gift aided doiiatitsns, which it utilises in the provision of grants and donations to other charities and no change is envisaged in Ihe immediate future. Public benefil The chgrity niakes charitable grants and donaiions. The trustees confimi that tl)ey have complied with the requirenients of section 17 of the Charities Act 201 I to have due regard to the public beiiefit guidance published by the Charity Comniission for England and Il'ales. Trustees and officers The trustees and otyicers serving during ihe year and since the vear end were as follows.. Trustees= Mr M Blake Mr PM Kremen Secretary.. Mr CM Frommer Strueturey governance and management Nthre ofgfjverning The company's governing document is irs Memorandum and Articles of Association. Objeclives andpolicies The charity's activiiies expose it to a number of financial risks including credit risk, cash flow risk and liquidiry risk. The use of finat]cial derivatives is govert]ed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculativ¢ purposes. Casliflow risk The charity's activities expose it primarilv to the fii)ancial risks of interest rate5. Interest bearing assets and liabiliiies are held at fixed rate to ensure certainty. of cash flo's. Credit riJ+k The chgrity's principal fingncial assets are bank balances and cash, trade and other receivables. The charity's credit risk is primarilw attributable to its trade receivables. The ainounts presented in the balance sheet are net of allom'ances for doubtful receivables. An allowance for impaim]ent is made where there is an ideiitified loss event which, based on previous experieiice, is evidence of a reduction in the reLtsverability of the Cash flows. Pag¢'. 2
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solcv Co. Limited TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The charity has no significant concentration of credit risk, with exposure spread over its bank and relatively small debtors. Liquidity risk In order to maintain liquidity to ensure that sutTicient funds are available for ongoing operations and future developineiits, the charity uses a niixture of loiig-tertn aiid short-tertn debt finance. Further details regarding liquidity risk can be found in the statement of accounting policies in Ihe financial Statements. Financial Review (ivcluding reservespoliry) Theie is a cash balance being l)eld, to eover future governance and other costs and the charitable grdnts that the trn%tee% M'ill be considering in the future. The%e reserves together with the investment income will be more than sufficient to cover future proposed charitable ¥raiits. Fulure Plans All grant giving has currently been paused. The trustees wrote to the Charit>. Comn)ission in October 2025 with regard to transferring the assets of Solev Limited to a donor advised fund and this process, ,hich is subject to Charity Cominission approval and approval by the potential beneficiary charity, remains ongoing. Pag¢'. 3
DoGusign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. Limited TRIISTEES, ANNII,IL REPORT FOR THE YEAR ENDED 31st MARCH 2025 Statement ofTrustees' responsibilities The trustees (who are also directors of ¢harity for the purposes of Company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accountin8 Standards (United Kingdom Geiierally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a trne 2nd fair view of the state of the affairs of the charitsble coimpany and of the outgoing resource5 and application of resources. includiiig the income and expenditiire, of the charitable company for that period. In preparing these financial statements, the trustees are required to= Select Suitable accounting policies and then apply thein consistently.. comply with applicable accountiiigF standards, includingF FRS 102, subject to any material departures disc105ed and explained in the financial 5tateiM¢nts: slate whether a Statenieiit of Re¢ommertded Pra¢ti¢e {SORPI applies artd has been tollowed, subject to any maierial departures hleh are explained in the fjnancial statements,. make judgements and estimates that are reasonable and prndent; prepare the financial stateineiits on a going concern basis unless it is inappropriate to presume that the charity will continue in bu5ines5. The trustees are respvi)sible for keeping prop¢T aL¢ountii)g records that disclose with Teasonable a¢¢uracy at aiiy time the financial position of the charitable cojnpany and enable them to ensure that the financial stateinents comply with the Companies Act 2006. They are also responsible fi)r safeguarding Lhe &ssets of the charitable ¢ompany and heii¢e for taking reasoi)able Sleps for the prevention and detection of fraud and other irregularities. EaLh of the persons who is a tTUStee at the da* of approval of this report confirms that.. $0 far as the trustee Is aware, Ihere is no relevant audii information of which the coinpany's audiior is unaware; aiid the trustee has taken all the steps that he/she ought to have taken as a director in order to mamake himselflherself aware of any relevant audit infomiation and to establish that the auditor is aware of that infom]ation. This report ha5 been PTepared in accordaiice ivith the special provision5 Telating to stnall companies within Part 15 of the Collipanies Act 2006. 18 December 2025 Approved by the Trustees on=.................................................. Date and sigi)ed on its behalf by.. . EFE24&tfjJA6TAFE_............................ Philip Kreinen. Trustee Page.. 4
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 INDEPEi%DENT AUDITOR'S REPORT TO TIIE TRIISTEES OF SOLEV CO. LIMITED TrOR THL I'bAR LNDLD 31st MARC.H 2025 Opinion We haTre auditd the financial stat¢ment5 of Solev Co. Limited I'the coinpani I for the N'eaT ¢nd¢d 31 March 202) M'hich comprise th¥ SiatL"mLni ot Financial AciiviiiLS: Ihc Summarn. Incomc and ExpLnditurc Account, Ihc Bal8nLL ShLXt and noics to ihc tin8nLial stal¢m¢nls, in¢lu(lin¥ 5i¥nif1¢4nl aiLvunlin¥ poliii¢s. Th¢ fiiianLial repuriing fr¢Ull¢i%'ork th41 been applied in Ih¢ir pr¢p4ratiiTrn is applicable lam" and Unittd Kingdom Accoullting SL8ndards, including FR5 102 -The Financial Reporting Standard Applicable in the IJK and Republic ()f Treland, IlJniied Kingdthm CTenerydlli ALcepted Accounting Praciicel. In aur i)pinii)n the finanLial %Vdiement8'. gil'e a true and fair view of the state of the charitable compan} s affairs as at 31 March 2025, and of its incoming resources and application of resources, toi. the vear theii ended., hav¢ b¢¢n pr(Iptrly pr¢pitr¢d in autyur(litn¢¢ i¥ith Ilnited Kin¥Jutn Gen¢rdllv ALi¢pt¢(l ALL(iuntin¥ Prit¢li¢¢' Jn(I have been prepared in ac£ordance with Ihe requirements i)I'ihe Companie% Aci 2006 B&sis for opinion We conducted our audit in accordance with Intemational Standards on Auditing IUKI (ISA5 ILIKII and applicable law. Our responsibilities under Ihose standards are further described in the Auditor's Responsibilities tor the audii ot-the (inanLial staiemenis scctiun vf our report. W¢ ar¢ independent of the Lharitabl¢ Lompan. in accvrdaNc¢ w'ith th¢ ethical requiT¢ment5 that ar¢ relei'ant lo our audit ot'thL financial staicmcnts in thc UK, including ihc FRC'S Ethical Siandard, and M'e hai'L fuifillcd our othcr ethical r¢5piiii*ibilities in atyLvrJanve i¥iih these r¢quiirtn¢nts. We b¢lieve thai th¢ audil evidence we have obi)in¢d is SU1vien1 and appropriate to prold¢ a basis for our opinion. Emphasis of matter- Financial Statement5 prepared on a basis other than going concern As explained in note l io the financial statements, Ihe trustee5 of the charit), are seeking to transfer the assets of the charitv io a %eparate charill ilth a view 10 winding up this chariis,. Thi% remains coniingeni on certain approvals being ()btained. bui a% a re%uli the financial 5tatetnent5 have been prepared on a basi5 Other than that of a going concern. Our opinion i5 not moditied in this respect. Other inforniation The other infortllalion ¢omprises ihe info#11n included in ihe annual repor4 oihei th the finan¢ial siaiements and our auditor's report thereon. The tru5tee5 are responsible for the other information contained within the annual report. Our opinion on the rinanLial staiemeni8 does noi Lover Ihe other intomiati()n and, exLepi to the exnI Dtherwise expliciilv slated in our report, e do not expre5b anTr fvrm of a55uianLe conLIu5ivn thereon. Our rcsponsibilits. is to rcad thc othcr intormation and, in doin so, considcr Th,hcthcr Ihc othcr information is matcriall! inconsistcnt vith Lhe finanLial SV41¢iM¢nLS (Ir Iiur kii(ii%l¢(Ig¢ (?biain¢d iii the ¢ourse vfth¢ audil or (?Iher¥4is¢ appear.4 1(1 b¢ Inaierially niis51dLed. Tr 'e identif), such material inconsistencies or apparent material misstatements. t are requiiEd to determine M'hether there 15 a material mis8iaiemei)t in the financial siatements themselve%. It.: ba%ed on the work lie have perltirmed, coi)clude thai Ihere is a maierial mi5Statement of this other inforiKation, .¢ are requiird to report that tact. We have i)nihing to repthri in Ihis regard. Opinions on other matters prescribed by the Companies Act 2006 Tn aur i)pinii)n, h&%ed i)n the i¥i)rk undeiiaken in Ihe Li)ur%e i)fihe audii.. th¢ information gib'en in the Iru5t¢¢5' aiinual repur¢ for th¢ finanLial y¢<tr for ivhiLh th¢ financial statements. Jr¢ prepared 15 Lttn81%teni M'iih the linanLidl %tdiement%.' and thc IrustCL"s' annual rcport has bccn prLparcd in accordancc wilh applicablc Icgal rLquirtmcnts. Pa¥¢'. 5
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 INDEPENDENT AUDITOR'S REPORT TO TIIE TRLISTEES OF SOLEV CO. LIMITED FOR THb ?'EAR ENDLD 315t MARCH 2025 Matters on which we are required to report b). exception In the lighi olihe knoivledge and understanding ot'the compan), and its enIrOnMent obtained in Ihe ot'ihe audit, Ive have not identified material illi55tat¢m¢nt5 in the tru5tee5' annual repurt. W¢ have t]othing to report in respect of the fol1ving matt¢r5 where the C.ornpanies Act 2006 require5 US to repurt to you if: in our opinion.. adequaie accthuniing record% have noi been kept, or reiurn% adequaie for i)ur dudit have n()i been received from branche% not isiicd bN us., or the financial statetnents are not in agreement with the accounting records and retums,. or certain disclosures ot Iru5tee5' rernuneration specified b}. law are not made,. or ¢ hav¢ n(It r¢c¢iv¢J 411 rh¢ infiTrrmJlivn Jnd ¢xplitnJlivn5 r¢quir¢ fvr oui. <iudit', or the Iru%iee% were nÉ)i eniitled io prewdre Ihe financial %iaiemen18 in aLLI)rdanLe w'ith ihe %mall Lompanie% regime and lake advantage of the small companies exemption in pirparing the trustees, annual rtport and from preparing a strategic report. Resptsnsiblllties of The Trustees As explained more tullN' in the trustees, responsibilities statement set out on page 4, the trustees Iw,ho are also the directors of the charitable ¢ompdnv fi)r the purp()4es of L()mp), lawl are respi)nsihle for Ihe preparaiii)n thfthe finanLial slalemenLS and fi)T being 8ali%fied Ihai Ihe) give a true and fair view., and for such internal control as the trustees determine 15 necessary to enable the preparation of financial staternents that are tree from maierial misstaiemeni, whether due 10 frydud or error In pr¢paring the fin<lllLial 51ateni¢nts', th¢ trustees r¢bpun5ibl¢ fvr abb¢55ing th¢ Lh(wi¢abl¢ Lompally's ability to Lontinu¢ a5 a going LonLetn, disclosing, as applicable, matters related to going conctm and usino the going concem basis ot accounting unless the trustees tither intend to liqiiidaie the Lhariiable Ll)nipanN' É)r li) Lease i)perntii)n4 or htsi'e no i'eali41ic aliernative but ti) do $0. Auditor's responsibilities for the audit ofthe financial statements Our objectii'es are to obtain rtasonable assurance about w'hether the financial statements as a whole are tree from material misstaiement, vheil)er due itt fraud i)r error, dnd 10 issue an auditthr's Teporl ihdi includes thur opinion. Reasi)nable &44uran¢e is a high leTrel <Trf&Ksuran¢¢, bul 15 not a guarantee that an audit conducted in accordance M'ith ISA5 IUKI will ala),5 detect a material mi55tatement hen it exists. Mi%%taiement% can ari%e from tinud or error and are Lonsidered material il, individualli or in aggregaie, they could reasonablN be expeeied to influence th¢ econoilliL decisions of user5 taken on the b(lS of th¢b¢ finanLial 51atem¢iits. A5 part of an audit in accoTdance with ISA5 {UK) we exercise PTofe5sional judgetnent and maintain professional sceptlC151TI thToughout th¢ audii. Wc also= Ideniif) and a%%e8% Ihe ri8k8 ofmaterial tni8%1atement ()f Ihe financial 81atemen18, %hether due to fraud ()r err()r, de%ign and perli)rm audit proccdurLS rcsponsivc io thosc risks, and obtain audit LvidcncL that is sutfiLicnt and appropriaic to providL a basis for our opinion. Thc risk of not detecting a material rnisstatement resulting from fraud is higher than tor one resuliino from error. as traud ma) involi'e collusion: foTgeri', intentional ornissions, misrepresentations: oi. the oTrerride of internal control. Obvdin an underntanding ot'intemal c()ntrol relean1 10 the audit in order to design audit procedures that are appr()priaie in the circumsianccs, but not for ihc purposcs of cxprcssing an opinion on thL cff¥ctivcnLss ot ihc charitablc company's intcmal control. Lvaluatr the appropriateness of accounting policies used and the reasonabl¢ne55 of accounting ¢stiinate5 and related disclosures illadc by Ihe trustees. Concludc on th¥ appropriaicncss of thL Irusiccs, usc of thc going concern basis of accouniing and, bascd on Ihc audit cvidcncc obtained, Th.-hether a material Ullcertaint). exists related to events or conditions that ma}. cast signiticant doubt on the charitable company's ability to Loii¢inu¢ a going concern. If conLlud¢ that a tnat¢rial unc¢rIalnt ¢X15¢s', w¢ r¢quir¢(I ti) dra attention in OUT auditor 5 re)rt li) Ihe relaied di%Llth4ures in Ihe Finan¢ial.41atemenLS or. if SULI) dibLI()%ure8 are inadequaie, li) Inthdif}' i)ur i)pini<)n. Our Ll)nclusinns are based on the audit ei'idence obtained up to Ihe date of-our audiior's report. Hole1'er. tuiure events or condiiions ma), cause the charitable cornpanN to cease to continue as a going concern. Evaludie the the11 pre%envdlinn, 81fuciure dnd Ltsnteni tsfihe financial 8181emeni%. including Ihe di%Llth%ure.%, and wheiher Ihe finat)cial staiemeni% repre8eni ihe underlying Iran%aLtii)n% and eveni8 Irt a tnani)er Ihat achieve8 fair pre.qeniaiion. Pa¥¢'. 6
DoGusign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 INDbYLtYDLtY'l'.4IIDI'I'OI4'S RbYOR'I' Tn TIIE TRIISTEE4 OF SOLEW C.'O. I.IP+llTED FOR THE I'EAR ENDED 3l$i lARcH 202.5 We cominunicate with those charged i¥iih goTren]aiice regarding. among other mallers, the planiied scope aiid timing of the audit and significant audit findings, inLludinbF any silf1(anI deflLienLl in inlernal LunlTvI Ihai w¥ idgnlifi duTingJ vur audil. Explllnation as to what extent the lludit was considered capllble of deteeting irreEularitie4 including fraud ltsegularili&. including fraud, are insian¢es ufnon-iomplianLe 14.iih la%ys and r¥gul81ions. 14.'e d¥sign proLedures in line iyiih oiir PUn$lbIL1Iie$. outlin¢d abov¢, to detrct mat¢rial missiatetn¢nLS in r¢spw¢ of irr¢8ulariti¢s, in¢ludin8 fraud. The ¢xieni to which our pro¢¢dur¢s gr¢ capabl¢ of Th¢ obj¢¢tives of our audii in resp¢¢i of fraud, are., to id¢niify and ass¢ss the risks of m21¢rial misstgt¢m¢ni of lh¢ finatt¢ial stai¢ments du¢ ¢0 frgud: l(> obtain siifficient appn)priale audit evideiice regarding the assessed risks of iiiaterial misqtateinenl due lo fraud, throiigli desigjiing and impleiiieiiling appropriate responses lo Ihu5e asses&ed risks,. nd lo respond appropi-ialely lo instances of fraiid or suspected fraud identified diirinB Ihe audil. HoN%¥i'er. Ihe primaTr responsibilili ftsr Ihe pr¢eni10n and dei¥ction or rr8ud rests ilih boih manag¢menl and ihtssg ¢harg¥d iyiih 8ov¢manct of the ¢haritabl¢ compan). Our approach was as follows.. We obiained an undersianding ofihti ILgal and regul8lOtJ rc4uirLmcnis applicablL 10 IhL charil). and ¢ongidbYLd Ihai IhL mosi sigiiiticaiit are the Lompanies Act 2006. Iharities Act 2011. the C'haril}' SORI, aiid UK financial pOrting standards as issued b}. the ringncial R¢N)rting Council We obtained Jn Linderstandiiig of how the charity complies with these requirements by discussions with lingelent and those ¢harg¢d 1th goi'¢rnan¢e. We assessed the risk of Inalerial misstateinenl of the financial statements, includiiig the risk of ]naterial misslalemeiit diie lo frnud and how il mighi o¢¢ur. by holding discussions 1th mgngg¢m¢nl and Ihos¢ ¢harg¢d with govemgn¢¢. We inquired of Inaiiagemenl and those charged with gol'ernance as to anv kno1 instances of non-coinpliance or sus1cted non-¢oillplian¢¢ M'ith laivs and reglllations. Based on this iinderslanding. Ive desIed specific appropriate aiidit procedLires lo ideiitify instances of noii-conipliance iiiih laivs and regLilatiTrnq. This in¢lud¢d making enqllirie.q of mgnageinent and those ¢hgrged i¥ith goiem3n¢¢ and obtaining additioiial ¢orroboratiii eiidertce as required. ThcrL arc inh¢rLnt limitaiions in Ih¢ audii pro¢¢dur¢s dL'scrib¢d abov¢. W'c arc ILSS likcli. 10 b¢comc a'ar¢ of insian¢¢s of non-¢omplian¢c wilh laws and r¢giilationq that art not cloq¢ly related to eventq and transaetions r¢flecl¢d in the Iillancigl stat¢mentq. Alqo. the risk of not detecting g mat¢rial misslalemeiit dLie lo frnud is higher than the risk of not detecting one resulting froin emir. as fraud a}. involve deliberate concealinenl by. for eminple, fvrBer¥ ur intentiunal miswtesenliiliuns, ur through Lullusiun. l."st of our report This report is made solely its Ihe Lhariiable company'g members. as a body. in acctsrdance Chapier 3 of Parl 16 ts(the Companies Aci 2006. Our gudii work has be¢n underrgken so Ihgt mighi slate 10 th¢ ¢oinpgn}' s m¢mb¢rs thos¢ matters 14.¢ gr¢ r¢quir¢d to st9¢ to ih¢m in an audiior s report and for iio other purwse. To the lullt exlenl permitted b), lai¥. do not accept or as£utne rpolI1b1lit). to an), partj other than the charitable coiiipany and charitable coillpani's illembe as a body, for our audit worL for this report, or for Ilie opinions lie hae formed. ocre Adam Tr'ullerton (Senior Staulon .4uditorl for and bchAlf nf l¢m)re I&in%%ton Smith LLP SttuiOry U41itor 6ih FI)r 9 Appold Sireel London EC2A 2AP Dllte= 18 December2025 PdBe". 7
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. Limited STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 Unrestricted Fund5- General Total Fund Fund5 2025 2025 Total Fiinds 2024 NL)tes INCOME AND ENDOWMENTS FROM.. Investment iii¢oine 275.884 275,884 275,884 275.884 299,538 299,538 TOTAL INCOME EXPENDITURE ON: Raisii)g funds Charitable activities TOTAL EXPENDITURE 147 79,167 79.314 148,541 148.541 148.541 148.541 NET INCOME/(EXPENDITURE) AND NET MOVEMENT IN FUNDS 127,343 127,343 220,224 RECONCILIATION OF FUNDS Total fui)ds broughi forward as at I st April 2024 6,143,729 6,143,729 5.923,505 BALANCES CARRIED FORWARD AS AT 31st MARCH 2025 6,271,072 6271,072 6,143,729 All amounts relate to continuing activities. Page.. 8
DoGusign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 SO1¢ Co. Limited BALANCE SHEET AS AT 31ST MARCH 2025 Notes 2025 2024 CURRENT ASSETS Debtors Ci15h at Bank 509,583 5,872,579 6.153,908 19,761 6,382,162 6,173,669 CURRENT LIABILITIES Creditors- falling due M'ithin one year 111.090 29,940 NET CURRENT ASSETS 6,271.072 6,143,729 Total assets le55 current liabilities 6,271.072 6,143,729 NET ASSETS 6,271,072 6,143,729 UNRESTRICTED FUNDS General Funil 6,271,072 6.143.729 6,271,072 6,143,729 Approved by the Trustees and authorised for issue on= 18 December 2025 and signed on ils behalf by.. EFEZ4B1614674FE Philip Kremen, Trustee Page.. 9
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 olev Co. Limited NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 I ACCOUNTING POLICIES (a) Basis of Preparation These financial statements are prepared on a going concern basis, under the historical eost convention. The financial siatements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The Chariry is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Staiidard applicable in the UK and Republic of Ireland {The FRS 102 Charities SORP), Ihe Companies Act 2006 and the Charities Act 2011. The fjnancial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these rinancial stateinents are rounded to the nearest pound. The principal accounting policies adopted in the preparation of the financial statemei)ts are set out below. {b) Fund Structure The Gcncral Flind is a fund which the Trustees are free to use in accordance with the charitable objects. {c) Income All income is recognised in the Statemeni of Financial Activities (SOFA) when Ihe condiiions for receipi have been met, the amount is measurable and receipt is probable. Investment incorne Investment income is recognised in rhe SOFA when receivable. (d) Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cominitting the charit>, to tl)e expeiiditure. All expenditure is accounted for on an accruals basis and has been classified under headings tliat aggregate all costs related to the categori,. The following accoui)iing policies are applied to the ditrerenr categories of expendiiure.. Charitable Activities Graiits payable are recogni5ed when they are approved by the Trustees aiid the recipient of the grant has been infotyned of the amount to be paid. Support costs Support costs include central fuiiLtions itnd have been allocated to activity Cost categories 011 a basi5 consistent with the use of resources, for example, allocating property cosis by floor areas, or per ¢apita, staff costs by the time spent and other costs by their usage Coi'¢rnanee Costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include cosis related to statutory audit fees iogether with support cosis. Page.. l O
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. Limited NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 I ACCOUNTING POLICIES (Continued) (e) Going concern The Trustees have assessed wheiher the use of the going concem basis is appropriate and has considered possible events or conditions Ihat might cast significani doubt on the ability of the charity to continue as a going concern. The trustees wrote to the Charity Commission in October 2025 with regard to trai)sferring the assets of Solew Limited to a separate charity and this process, which is subject to Charitv Ctstninission approval and approval by the ptstential beneficiary charity. remain5 ongoing. Nevertliele5s, a5 It is the intention of tlie TStee5 to wind up the charity, the financial Statements have been prepared on a basi5 Other thali that of a goingF concern. Should approval not be obtained froin the Charity C0JnISSiOn andlor the poteiitial benefjciat), charity, the TStee5 are confident that the charity has sufficient available funds to be able to finance its obligations as they fall due. No changes have been required to be made to the financial ststements as a result of preparing them on a ba%is i)ther than that of a going concern. {0 Financial instruments The charity has elected to apply the provisions of Section I I 'Basic Financial Instruments, of FRS 102 to all of its rinancial i115trunient5. Basic financial instruments are initially recognised at traiisaction value aiid 5ub5equeiitly Ineasured at their settlement value. {g) Cash and cash equii'alentS Cash and cash equivalents include cash in hand. deposiis held at call w'ith banks, other short-term liquid invesiment with origFinal Inaturitie5 of three months or les5. {h) Key Estimates and Judgements In preparing financial statements it is necessary to make certain judgements: estimates and assumptions that affect the an)ounts recogniged in tl)e Iii)ancial stateinentg. In the view of the Trustees in applying the accounting policies adoptcd, no judgement% 'ere required that have a significant etTect on the amounts recognised in the financial siaten)enis nor do any estimates or assumptioi)s made cany a significant risk of material adjustment in the next financial year. Page.. I I
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Solev Co. Limit¢d NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2025 2 1Tr4VESTMENT INCOME 2025 2024 Other investment incorne 275.884 299,538 3 COST OF RAISING FUNDS 2025 2024 Loan interest 147 4 CHARITABLE ACTIVITIES The charily awarded donaiions to a number of institutions in furtherance of its charitable activities. 2025 2024 Bv£li.yh Friend.$ OfBaw Jlav Univeisity Friepid¥ ofBEiS Soroh Schneirer KehilliFi JVu.*hiva Vorn'ood The Li.va Felloiv.vhip.f The PTI Tei'ini Ltd Thc illiddle TLmplL 1575 Fund The RehobilElaiion Trust YcJshuya Adlc)r MLJmorial 35,000 2.500 3,000 2,500 6,250 5,000 5,000 5,000 5,500 3,000 3,000 5.000 Grants < £2,500 13,700 34,620 65,200 63,870 Support and governance costs (see note 5) Total 83,341 148,541 15,297 79,167 S SUPPORT AND GOVERNANCE 2025 2024 Bank charges Governance costs Accounting charges Audit fees Legal fees mi5cellane0115 178 57 8,506 13.800 53,663 7.194 83,341 2,340 12,900 15,297 Page.. 12
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 S(Jlev Co. Limit¢d NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2025 6 STAFF COSTS The charity had no employee5 during the year or the previous period. 7 DEBTORS 202S 2024 Other debtors Accrued incoine 476,736 6,153,908 6,153.908 8 CREDITORS 2025 2024 Due within one vear Other creditors Accrua15 88.821 22.269 29,940 111,090 29,940 9 ANALYSIS OF P4ET ASSETS BETWEEN FUNDS Current year: General Fund 2025 Total Funds 2025 Current Assets Debtors Cash & Bank 509.583 5,872,579 509,583 5,872.579 Creditors due within one year 1111,090) (111.090} Total 6,271.072 6,271,072 Prior year: General Fund 2024 Total Funds 2024 Current Assets Debtors Cash & Bank 6.153.908 19,761 6,153.908 19,761 Creditors due within one year (29,940) 129.940} Total 6,143,729 6,143,729 Page.. 13
DoGUSign Envelope ID." 372023D8-2E4F47C6-B9A2.9597560F2B69 Sol¢v Co. Limited NOTES TO THE FINANCIAL ST ATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2025 10 RELATED PARTY TRANSACTIOP4S During the year the charity made the following related party transactions.. Pidom Export Lirnited The company is related to Pidoin Export Liniited. a companv in which foTmer trustees of Solev Co. Limited; Mr R Tager: Mr SJ Tager and Mr JP Tager were directors in the current and previous financial year. Interest is received under the ternis of a loan agreement between the companies ai a rate of 50/0 per annum. The interest for this year was £219,324 (2024 £276,951 l. Tl)is loan is seen by the directors as a way of investment of surplus fvnds that will be required for charitable projects in the future but not immediately. At the bglance sheet date the amount due w (2024- from} Pidom Export Limited was £88,822 (2024 - £5,700.0381. The whole of the outstanding amount due on the loan to Pidom Export Limited and guaranteed by Faircastle Ltd, (also a related paty by virtue of the same common irusteesldirectors,) has been repaid by Faircastle Ltd under its guarantee in the financial year. Hatzlocho Limited The company is related to Hatzlocho Limited M,hich is controlled by the spouses of the Tager family former trustees of Solev Co. Ltd. Interest of £nil {2024- £147) was ¢harged to the charity by Hatzlocho Limited in the year. The British Friends of Bar-llan University During the year the charitv made g5rant5 of £35,000 (2024.. £6,250) to British Frieiids of Bar Ilan University. Mr R Tager: fomier trustee of Solev Co. Lin)ited is a trustee of Britlsh Friends of Bar Ilan Uiiiversity. I I TRANSACTIONS WITH TRUSTEES Nts Trustees received reinuneratitsn during the year or the prior year. NO expenses were reimbursed to trustees in the current or prior year. 12 COMPANY STATUS The Chariry is a ¢ompany limited by gugrantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the eharity. Page.. 14