Charity number: 326959
SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
(formerly The Heathside Charitable Trust)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent auditors. report on the financial statements
9-11
Statement of financial activities
12
Balance sheet
13
Statement of cash flows
14
Notes to the financial statements
15-26

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Sir Hary Solomon. Chair
J B Jacobs
S J Jacobs
J K Solomon
D M Solomon
L S Jacobs
G R Jayson
K P Jacobs (appointed 13 June 2024)
Charity registered
number
326959
Principal office
Hillsdown House
32 Hampstead High Street
London
NW3 1QD
Independent auditors
BKL Audit LLP
Chartered Accountants
35 Ballards Lane
London
N3 1XW
Bankers
Lloyds TSB Private Banking
3rd Floor
39 Threadneedle Street
London
EC2R 8AU
Investment Managers
UBS Wealth Management
5 Broadgate
London
EC2M 2QS
Page 1

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the audited financial statements of Charity for the year 1
January 2024 to 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the
accounts and comply with the chariws governing document. the Charities Act 2011 and 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 published on 1
January 2019.
Objectives and activities
a. Policies and objectives
The objects of the Charity are making available funds for the benefit of such charitable institutions, or for such
charitable purposes, as the trustees shall decide. The Trustees identify organisations and projects it wishes to
support and this generally arises from direct contacts rather than speculative applications.
The Trustees have considered the principal risks to which the Charity is exposed, and are satisfied that systems
are in place to mitigate those risks.
b. Strategies for achieving objectives
The Trustees meet regularly to consider causes to support, carefully assessing each cause based on available
funds. Causes are selected from Trustee contacts and knowledge, rather than accepting unsolicited applications.
c. Activities undertaken to achieve objectives
The Charity undertakes to give grants to worthy organisations as the Trustees see fit. A further description of the
grant giving policy is induded later within this report.
d. Grantwmaking policies
The Trustees will consider making grants to organisations (not individuals) that fall within its charitable objectives
and invite relevant applications. particularly from organisations introduced by reliable contacts of the Trustees.
The Trustees have complete discretion to pay any grants which fall within the charity's objects. Grants are
considered on the basis of applications re￿iVed and the Trustees meet four times a year to discuss and approve
existing and new grants. They also communicate with each other at other times for this purpose should the need
arise. Where grants, including overseas grants, are made for specified purposes, they are monitored by the
Trustees to ensure that these purposes and any conditions attached to the grants are adhered to.
e. Volunteers
The Charity does not make use of volunteers to run the chartty, other than the Trustees as listed on the
referen￿ and administrative details page.
f. Main activities undertaken to further the Charity's purposes for the public benefit
The Charity undertakes to give grants to further it's purposes for the public benefit. Grants are made to other
charitable organisations. which the Trustees believe is for the public benefit.
Page 2

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance
a. Main achievements of the Charity
The Trustees made numerous donations to charitable causes in accordan￿ with its objects during the course of
the year. Further details are shown in note 6 to the accounts highlighting the number of grants made in the year
being 75 {2023= 78). The Trustees are satisfied that the organisations supported provide a good and valuable
service to their beneficiaries.
These included the furtherance of education. the care of the young. sick and elderly and the provision of
community protection and other servI￿s.
The organisations supported are monitored by the Trustees by personal contact with officials of those
organisations, review of the work actually carried out by them, and their published material and reputation.
b. Key perfomiance indicators
Due to the nature of the Charity, no fomial key performan￿ indicators are set. However, the Trustees review
management accounts on a quarterly basis to assess the level of funds available to the Charity, investment
performance and level of grants given.
Review of activities
The Charity received donations of £3.878,422 (2023.. £550,000) during the year. These included gifts of £Nil
12023: £100,000) from Louise Jacobs and £Nil (2023.. £100,000) from Juliet Solomon. The Charity has made
donations to charitable causes in accordance with its objects totalling £668,733 (2023= £649.064) and these are
referred to in note 6 to the financial statements. 75 grants (2023.. 78) were made to charitable organisations
covering Health, Education. Cultural and other general causes. The Trustees are of the opinion that the financial
position of the charity at the balan￿ sheet date is sufficient to meet its on-going activities. The net assets at the
year end date amounted to £8.781,466 (2023: £5,031.891).
d. Factors relevant to achieve objectives
There was an improved perfomiance this year resulting in a positive revaluation. With the significant level of
reserves held by the Charity the programme of grant giving has continued.
Fundraising activities and income generation
The Charity does not raise funds from the public and relies on investment income, investment gains realised and
the kind donations of Sir Hary Solomon and his family in order to continue supporting good causes.
Page 3

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance (continued)
f. Investment policy and perforniance
The Trustees have wide investment powers and investments are made in properties, shares and unit trusts.
The Trustees, policy is to adopt a low risk investment strategy by spreading the Trust's assets over the various
types of investment. Currently the assets are invested in cash, propety, equities and venture capital funds. The
investment policy is designed to maximise income and capital gain within a low risk environment and the trustees
consider a broad range of investments mentioned above to indude bonds, ethical investments and sustainable
funds. The Trustees monitor the perfomiance of investments against their objectives and are satisfied that such
objectives are being met.
The Trustees meet periodically to review investment policy during the year. They consider income requirements
along with the investment advisor's view of market prospects. The current objective is an annual total return of
between 5010 to 8 %. The Trustees consider that the investment performance from the income and gains from
funds invested was satisfactory given market conditions throughout the year.
Financial review
. Going concern
The Trustees do not believe there to be a material uncertainty over going concern due to the level of unrestricted
reserves and the fact that the vast majority of expenditure is grants paid on a discretionary basis. In view of this,
the Trustees have prepared the accounts on a going concern basis, taking into consideration the twelve months
from the date of signature.
b. Reserves policy
Whilst the Trustees wish to continue to make grants as they have done in the past, it is also their wish to
maximise the Trust's reserves in order to give a base from which the Trust can run charitable projects of its own.
The Trustees review the level of reserves on an annual basis and consider the current level of reserves of
£8,781,466 {2023.' £5,031,891) to be appropriate for the Trust to maintain. The Trustees aim to have reserves in
due course producing sufficient income and gains to fund the proposed annual grant expenditure, without the
need to obtain substantial support from donations. To achieve this without restricting the Trust's ability to make
grants at the current rate, the Trustees have set the sum of £8m-£10m as their reserves target and aim to
achieve this through their investment strategy and donations. There are no restricted reserves (2023.. £Nil}.
c. Material investments policy
The Charity holds a significant portfolio of listed shares. A further description of the policy regarding these
investments can be found under the Investment policy and performance section above.
Page 4

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
d. Principal risks and uncertainties
The Board of Trustees is responsible for the management of the risks fa￿d by the Charity.
All major risks to which the charity is exposed have been identified. assessed and controls established as
appropriate. Consequently the Trustees are satisfied that the major risks have been mitigated.
The Trustees consider that the main risk that the Trust faces is the recoverability of the investments held and
whether they will continue to generate income in order to further the Trust's objectives via the grant making
policy. To manage the risk the Trustees continually review the investment strategy of the Trust to determine the
spread of the investments, achieved performan￿ and anticipated performance for the forthcoming year.
Financial risk management objectives and policies
The financial risks of the Charity are assessed and monitored by the Trustees, who meet regularly to review the
financial affairs of the Charity.
f. Principal funding
The Charity is reliant on investment income. realised investment gains and the kind support of Sir Harry Solomon
and his family in order to continue it's programme of grant giving. The Trustees are very thankful to Sir Harry
Solomon and his family who enable the level of grant giving to remain at a similar level to previous years.
structure, governance and management
a. Constitution
The Charity was established by a charitable trust deed on 22 August 1985 which was updated by a supplemental
deed on 25 September 2017. The Charity is registered with the Charity Commission under registration number
326959 and is an independent Charity. The address of the principal ofFice is 32 Hampstead High Street, London
NW3 1QD. The Trustees are responsible for the overall management and control of the Charity.
Page 5

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The Trustees who served during the year are:
Sir Harry Solomon
L S Jacobs
G R Jayson
D M Solomon
J K Solomon
S J Jacobs
J B Jacobs
K P Jacobs
The number of Trustees shall never be less than two and an additional Trustee or additonal Trustees may be
appointed at any time but so that the total number of Trustees shall at no time exceed ten is accordan￿ with a
supplemental deed dated 25 September 2017. The Trustees have the power of appointing new or additional
Trustees.
The only Trustees are family and trusted advisers. The Board of Trustees has been heavily involved in the
charity world for many years and is eXperien￿d in the requirements of charities.
The Charity owns the Investment properties which are held by the Trustees on its behalf.
. Organisational structure and decision-making policies
As the Charity employs no staff, all organisational decisions are made by the Trustees, who meet regularly to
discuss the Charity's affairs.
d. Policies adopted for the induction and training of Trustees
The composition of the Chariws Board of Trustees is reviewed regularly with a view to achieving a spread of
expertise and age designed to facilitate the achievement of the Charitys objects. The Trustees keep up to date
on their responsibilities by various means. such as reviewing the Charity Commission website, reading relevant
periodicals and professional advi￿.
One of the Trustees would be made responsible for the induction of any new Trustee which involves awareness
of a Trustee's responsibilities, the goveming document, administrative procedures. the history and philosophical
approach of the Trust. A new Trustee would re￿1ve copies of the previous yearfs annual report and accounts
and appropriate publications from the Charity Commission.
e. Pay policy for key management personnel
The Trustees consider the Board of Trustees as comprising the key management personnel of the Charity in
charge of directing and controlling the Charity and running and operating the Charity on a day to day basis. All
Trustees give their time freely and no Trustee remuneration was paid in the year (2023.. £Nil).
f. Related party relationships
The Trustees are vigilant to potential related party transactions which the Charity may be entering into. This
includes completing an annual dedaration of interests which are reviewed before every meeting. The related
party transactions are set out in note 20 to the accounts.
Page 6

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
structure, governance and management (continued)
g. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed. in particular those related to the
operations and finances of the Charity, and are satisfied that systems and prO￿dureS are in place to mitigate
exposure to the major risks.
h. Public benefit
The Charity has referred to the guidance contained in the Charity Commission's general guidance on public
benefit when reviewing its aims and objectives and in planning future activities. In particular the Trustees
consider how planned activities will contribute to the aims and objectives they have set.
The Charity does not engage in fund raising activities to meet its objectives or use any third party or commercial
fundraisers and therefore has re￿iVed no complaints.
Plans for future periods
The aim of the Trustees for the next year is to continue making donations to various charities even though the
donations may significantly exceed the income generated on the Trusts investments, in which case they will be
funded from the growth in the investment porttolio. reserves or future donations.
statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, induding its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP {FRS 102).,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any malerial
departures disdosed and explained in the financial statements"
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charitvs transactions and disdose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Acl 2011, Ihe Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Page 7

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees. report is approved has confirmed that:
so far as that Trustee is aware. there is no relevant audit information of which the Charitys auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the Charitys auditors are aware of that information.
Auditors
The auditors, BKL Audit LLP, have indicated their willingness to continue in office. The designated Trustees will
propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
G R Jayson
Trustee
Date:
2611012025
Page 8

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SIR HARRY & LADY JUDITH SOLOMON
CHARITABLE FOUNDATION
Opinion
We have audited the financial statements of Sir Hary & Lady Judith Solomon Charitable Foundation (the
'charitV} for the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance
sheet, the Statement of cash flows and the related notes, induding a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended
Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordan￿ with the Generally
Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements=
give a true and fair view of the state of the charitys affairs as at 31 December 2024 and of its incoming
resources and application of reSoUr￿S for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have conduded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial ststements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitls ability to continue as a going
concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going con￿rn are described in the
relevant sections of this report.
Page 9

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SIR HARRY & LADY JUDITH SOLOMON
CHARITABLE FOUNDATION (CONTINUED)
Other information
The other information comprises the infomiation induded in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusion thereon. Our
responsibility is to read the other information and. in doing so. consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we condude 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you rf, in our opinion..
the information given in the Trustees, report is inconsistent in any material respect with the financial
statements. or
sufficient accounting records have not been kept" or
the financial statements are not in agreement with the accounting records and relums., or
we have not re￿iVed all the infomiation and explanations we require for our audiL
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the
preparation of the financial statements which 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, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing. as applicable. matters related to going con￿rn and using the going concern
basis of accounting unless the Trustees either intend to liquidate the charity or to ￿ase operations, or have no
realistic alternative but to do so.
Page 10

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SIR HARRY & LADY JUDITH SOLOMON
CHARITABLE FOUNDATION (CONTINUED)
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS {UK) will always 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
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our prO￿dureS are capable of detecting irregularities, including fraud is
detailed below=
Enquiring of management around actual and potential litigation and daims-
Reviewing board meeting minutes of those charged with governan￿.,
Reviewing financial statement disclosures and testing to supporting documentation,. and
Perfoming audit work over the risk of management override of controls and evaluating the business
rationale of significant transactions outside the nomial course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stste to the
charity's trustees those matters we are required to state to them in an Auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity
and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
KKL 4MlIt LLP
BKL Audit LLP
Chartered Accountants
Statutory Auditor
35 Ballards Lane
London
N3 1XW
Date: 28110/2025
BKL Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page11

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Investments
3,878,422
74,063
3,878,422
74,063
550,000
76,462
Total income
3,952,485
3,952,485
626,462
Expenditure on:
Raising funds
Charitable activities
40,920
683,420
40,920
683.420
30,345
663,484
Total expenditure
724,340
724.340
693,829
Net incomel{expenditure) before net gains on
investments
3,228,145
521,430
3,228,145
521.430
(67,367)
198,239
Net gains on investments
Net movement in funds
3,749,575
3,749,575
130,872
Reconciliation of funds:
Total funds brought fO￿ard
Net movement in funds
5,031,891
3,749,575
5,031,891
3,749,575
4,901,019
130,872
Total funds carried forward
8,781,466
8,781,466
5,031,891
The Statement of Financial Activities indudes all gains and losses recognised in the year.
The notes on pages 15 to 26 form part of these financial statements.
Page 12

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Investments
Investment property
12
8,220,173
360,000
3,981,072
360,000
8,580,173
4,341,072
Current assets
Debtors
13
74,358
147,234
444, 162
260,457
Cash at bank and in hand
221,592
704,619
Current liabilities
Creditors: amounts falling due within one
year
14
(20,299)
(13,800)
Net current assets
201,293
690.819
Total assets less current liabilities
8,781,466
5,031,891
Total net assets
8,781,466
5,031,891
Charity funds
Unrestricted funds
15
8,781,466
5,031,891
Total funds
8,781,466
5,031,891
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
G R Jayson
Trustee
Date:
26/1012025
The notes on pages 15 to 26 form part of these financial statements.
Page 13

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
3,530,386
(213.513)
Cash flows from investing activities
Interest receivable
Dividends and rents from investments
25,735
48,328
(5,170.489)
1,452,817
36,125
40,337
(165,314)
200, 147
Acquisition of investments
Disposal of investments
Net cash (used in)Iprovided by investing activities
(3,643,609)
111,295
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
{113,223)
{102,218)
260,457
362,675
Cash and cash equivalents at the end of the year
147,234
260,457
The notes on pages 15 to 26 form part of these financial statements
Page 14

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General inforniation
Sir Harry & Lady Judith Solomon Charitable Foundation is an unincorporated charity established by a
charitable trust deed on 22 August 1985 which was updated by a supplemental deed on 25 September
2017.
The Charity was formerly known as The Heathside Charitable Trust but changed it's name to Sir Harry &
Lady Judith Solomon Charitable Foundation on 13 June 2024.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Sir Harry & Lady Judith Solomon Charitable Foundation meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value
unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The trustees do not believe there is a material uncertainty over going COn￿rn, due to the level of
unrestricted reserves and the fact that the vast majority of expenditure is grants paid on a
discretionary basis. Therefore the trustees are comfortable that the charitls reserves will ensure it is
able to endure over a period of 12 months from the date of signature of these financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Bank interest, rental income and dividends are accounted for on a receivable basis. All other income
is included in the accounts on a receivable basis when the SORP income recognition criteria of
entitlement, probability and measurement have been met.
Donations made by a way of Gift Aid are reflected in the year in which they are receivable.
2.4 Expenditure
Grants payable
Grants payable are payments made to third parties in the furtherence of charitable objects of the
Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified
of the grant award. The notification gives the recipient a reasonable expectation that they will receive
the one year or MUlt￿year grant. Grant awards that are subject to the recipient fulfilling performance
conditions are only accrued when the recipient has been notified of the grant and any remaining
unfulfilled condition attaching to the grant is outside of the control of the Trust.
Page 15

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies {continued)
2.4 Expenditure {continued)
Support and governance costs
Governance costs comprise all costs involving the public accountability of the charity and its
compliance with regulation and good practi￿. These costs indude costs related to audit and legal
fees and are induded in expenditure on charitable activities in the Statement of Financial Activities.
I costs are indusive of I￿eCoVerable VAT and are accounted for on an accruals basis.
Funds
Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available
for use at the discretion of the Trustees in furtherance of the general charitable objectives.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional. such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
2.5 Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of transaction. Bank
balances denominated in foreign currencies are translated at the rate of exchange ruling at the
balance sheet date. All foreign exchange differences are taken to the Statement of Financial
Activities.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
2.6 Taxation
Sir Harry & Lady Judith Solomon Charitable Foundation is a registered charity and as such its income
and gains falling within sections 471 to 489 of the Corporation Tax Act 2010 or Section 256 of the
Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent they are
applied to its charitable activities.
2.7 Investments
Fixed asset investments are a fomi of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the Statement of financial activities.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 16

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies {continued)
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balan￿ sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their setdement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Donations
3,878,422
3,878,422
Unrestricted
funds
2023
Total
funds
2023
Donations
550,000
550,000
Page 17

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Rental income
Dividends receivable
Interest received
27,950
20,378
25,735
27,950
20,378
25,735
74,063
74,063
Unrestricted
funds
2023
Total
funds
2023
Rental income
Dividends receivable
Interest received
16,550
23,787
36,125
16,550
23,787
36,125
76,462
76,462
Investment management costs
Unrestricted
funds
2024
Total
funds
2024
Investment management costs
Property expenses
20,777
20,143
20,777
20,143
40,920
40,920
Page 18

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment management costs (continued)
Unrestricted
funds
2023
Total
funds
2023
Investment management costs
Property expenses
15,714
14,631
15,714
14,631
30,345
30,345
Analysis of grants
Grants to
Institutions
2024
Total
funds
2024
Grants, Supporting good causes
668,733
668.733
Grants to
Institutions
2023
Total
funds
2023
Grants, Supporting good causes
649,064
649,064
During the year the charity made 75 grants totalling £668,733 (2023: 78 grants totalling £649,064) to a
variety of charities in accordan￿ with the grant making policy. All grants were made to institutions.
A full list of grants paid is available on request in writing from the charitys principal address which is
shown on the page detailing administrative infomiation.
Page 19

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Supporting good causes
683,420
683,420
Unrestricted
funds
2023
Total
2023
Supporting good causes
663,484
663,484
Analysis of expenditure by activities
Grant
funding of
activities
2024
Support
costs
2024
Total
funds
2024
Supporting good causes
668,733
14,687
683,420
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Supporting good causes
649,064
14,420
663,484
Page 20

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities (continued)
Analysis of support costs
Supporting
good
causes
2024
Total
funds
2024
Bank charges
Exchange gains l (losses)
Govemance costs
299
299
{12)
14,400
(12}
14,400
14,687
14,687
Supporting
good causes
2023
Total
funds
2023
Bank charges
Professional fees
127
117
127
117
Exchange gains l (losses)
Govemance costs
376
13,800
376
13,800
14,420
14,420
Govemance costs for 2023 consists of audit and accounts preparation fees for both 2023 and 2022.
Auditors. remuneration
2024
2023
Fees payable to the Charity's auditor for the preparation and audit of the
Charity's annual accounts
14,400
13,800
Page 21

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.
Trustees. remuneration
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
Investment property
Freehold
investment
property
Valuation
At 1 January 2024
360,000
At 31 December 2024
360,000
The investment properties comprise two properties which are ordinarily let to provide income for the trust.
The investment property was revalued by the trustees on the 31 st De￿mber 2024.
12.
Fixed asset investments
Quoted
Unquoted
Total
Cost or valuation
At 1 January 2024
Additions
Disposals
Revaluations
2,204,613
1.300,683
(1,452,817)
121,793
1,776,459
3.869,806
3,981,072
5,170,489
(1,452,817)
521,429
399,636
At 31 De￿mber 2024
2,174,272
6,045,901
8,220,173
Net book value
At 31 De￿mber 2024
2,174,272
6,045,901
8,220.173
At 31 December 2023
2,204,613
1,776,459
3,981,072
Page 22

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
Debtors
2024
2023
Due within one year
Other debtors
72,007
2,351
413,256
30,906
Prepayments and accrued income
74,358
444, 162
14.
Creditors: Amounts falling due within one year
2024
2023
Accruals and deferred income
20,299
13,800
Page 23

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15.
statement of funds
statement of funds - current year
Balance at
31
Gainsl December
(Losses)
2024
Balance at 1
January
2024
Income Expenditure
Unrestricted funds
General Funds- all funds
5.031,891
3,952,485
(724,340)
521,430
8,781,466
Statement of funds - prior year
Balance at
31
December
2023
Balance at
1 January
2023
Gains/
(Losses)
Income Expenditure
Unrestricted funds
General Funds- all funds
4,901.019
626,462
(693,829)
198,239
5,031,891
16.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Fixed asset investments
8,220,173
360,000
221,592
(20,299)
8,220,173
360,000
221,592
(20,299)
Investment propety
Current assets
Creditors due within one year
Total
8.781,466
8,781,466
Page 24

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16.
Analysis of net assets between funds {continued)
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
3,981,072
360,000
704,619
(13,800)
3,981,072
360,000
704,619
(13.800)
Investment property
Current assets
Creditors due within one year
Total
5,031,891
5,031,891
17.
Reconciliation of nel movement in funds to net cash flow from operating activities
2024
2023
Net income for the period (as per Statement of Financial Activities)
3,749,575
130,872
Adjustments for:
Dividends, interests and rents from investments
Lossesl{gains) on investments
(Increase)IDecrease in debtors
(Decrease)Ilncrease in accruals
(74,063)
{521,430)
369,805
6,499
(76,462)
(198,239)
(70,284)
600
Net cash provided byl(used in) operating activities
3,530,386
(213,513)
18. Analysis of cash and cash equivalents
2024
2023
Cash in hand
147,234
260,457
Total cash and cash equivalents
147,234
260,457
Page 25

SIR HARRY & LADY JUDITH SOLOMON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
19.
Analysis of changes in net debt
At1
January
2024 Cash flows
At31
December
2024
Cash at bank and in hand
260,457
(113,223)
147,234
260,457
{113.223)
147,234
20.
Related party transactions
Donations:
The charity received donations in the year totalling £3,878,422 (2023- £nil) as distributions from two trusts
where the nominees were related parties to the charity.
The charity also received donations from trustees Louise Jacobs of £nil (2023.. £100,000) and Juliet
Solomon of £nil (2023: £100,000).
Grants:
The charity made grants totalling £50,000 (2023: £50,000) to The Portland Trust of which Sir Harry
Solomon is a connected person.
There was also one grant totalling £5,000 (2023- £37,500) to charities of which other Trustees are a
trustee. The grant of £5,000 was paid to The Shine for Shani Charitable Trust. (Last year, the grants of
£27,500. £5,000 and £5,000 respectively were paid to The British Friends of the Jaffa Institute, The Shine
for Shani Charitable Trust and Spead a Smile).
Other
During the year the Trust made an interest free loan of £nil (2023- £5,208) to Qtec Analylics Limiled, a
company connected to Sir Harry Solomon. At the year end date, an amount of £71,112 (2023: £70,466)
was owed by the company to the Trust and is fully recoverable
Page 26