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REGISTERED NUMBER: 03150254 (England and Wales)

| Solace In Business Ltd |

| Financial Statements |

| for the Year Ended 31 March 2025 |

Solace In Business Ltd (Registered number: 03150254)

Contents of the Financial Statements

for the year ended 31 March 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

Solace In Business Ltd

Company Information

for the year ended 31 March 2025

| DIRECTORS: | J E Eckford

| R E Hyde

| G V McDonald

| P J Simpkins

| J R Stephenson

| N A Dawes

| P F Hanson

| N Hussain

| L J Taylor

| SECRETARY: | R E Hyde

| REGISTERED OFFICE: | Ground Floor

| 2 Red Hall Court

| Wakefield

| West Yorkshire

| WF1 2UN

| REGISTERED NUMBER: | 03150254 (England and Wales)

| AUDITORS: | SMH Jolliffe Cork Audit Ltd

| Accountants & Statutory Auditors

| 33 George Street

| Wakefield

| West Yorkshire

| WF1 1LX

Solace In Business Ltd (Registered number: 03150254)

Statement of Financial Position

31 March 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 48,080 |  | 69,738 |  |

Investments | 5 | 20 |  | 20 |  |

48,100 |  | 69,758 |  |

CURRENT ASSETS

Debtors | 6 | 972,442 |  | 1,613,812 |  |

Cash at bank | 338,499 |  | 40,884 |  |

1,310,941 |  | 1,654,696 |  |

CREDITORS

Amounts falling due within one year | 7 | 827,224 |  | 1,205,630 |  |

NET CURRENT ASSETS | 483,717 |  | 449,066 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 531,817 |  | 518,824 |  |

PROVISIONS FOR LIABILITIES | 10 | - |  | 635 |  |

NET ASSETS | 531,817 |  | 518,189 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 19 |  | 19 |  |

Share premium | 141,129 |  | 141,129 |  |

Retained earnings | 390,669 |  | 377,041 |  |

SHAREHOLDERS' FUNDS | 531,817 |  | 518,189 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

R E Hyde - Director

Solace In Business Ltd (Registered number: 03150254)

Notes to the Financial Statements

for the year ended 31 March 2025

1. | STATUTORY INFORMATION

| Solace In Business Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The financial statements have been prepared on a going concern basis. In preparing the accounts the directors have considered possible risks, events or conditions that might cast significant doubt on the ability of the company to continue as a going concern and therefore on the appropriate use of the going concern basis.

| Regularly monitoring the operational and financial performance of the company is part of the routine activities of executive management (monthly) and the board of directors (quarterly). This includes detailed management accounts and the analysis of pipeline activity (income and margins), together with performance indicators ranging from opportunity conversion rates to customer satisfaction across all areas of activity. Financial forecasts for the period through to 31 August 2026 have, together with current reserves and cash balances, also been reviewed as part of that regular monitoring activity. Based on such reviews and related enquiries, the directors have concluded that there is a reasonable expectation that the 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.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover represents fees receivable for services provided to customers. Income is recognised to the extent that the company has obtained the right to consideration through its performance.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 25% on reducing balance

| Computer equipment | - | 20% to 33% on cost

| All fixed assets are initially recorded at cost.

| Investments in subsidiaries

| Shares in group undertakings are held at cost less any provision for impairment.

Solace In Business Ltd (Registered number: 03150254)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pensions

| The company operates a defined contribution scheme for employees. The annual contributions are charged to the income statement.

| Leased assets and obligations

| Operating leases and the annual rentals are charged to the Income Statement on a straight line basis over the lease term.

| Gift aid distribution to parent charity

| Profits over and above those needed to meet the company's working capital requirements are transferred to the parent charity, The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd, by way of a gift aid distribution. As no legal obligation exists, the distributions in respect of the current and comparative year represent amounts paid as at the balance sheet date.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 16 (2024 - 20 ) .

Solace In Business Ltd (Registered number: 03150254)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

Fixtures |

and | Computer |

fittings | equipment | Totals |

| £ | £ | £

| COST

| At 1 April 2024 | 28,888 |  | 103,188 |  | 132,076 |  |

| Additions | - |  | 5,812 |  | 5,812 |  |

| Disposals | - |  | (5,147 | ) | (5,147 | ) |

| At 31 March 2025 | 28,888 |  | 103,853 |  | 132,741 |  |

| DEPRECIATION

| At 1 April 2024 | 3,009 |  | 59,329 |  | 62,338 |  |

| Charge for year | 6,470 |  | 21,000 |  | 27,470 |  |

| Eliminated on disposal | - |  | (5,147 | ) | (5,147 | ) |

| At 31 March 2025 | 9,479 |  | 75,182 |  | 84,661 |  |

| NET BOOK VALUE

| At 31 March 2025 | 19,409 |  | 28,671 |  | 48,080 |  |

| At 31 March 2024 | 25,879 |  | 43,859 |  | 69,738 |  |

5. | FIXED ASSET INVESTMENTS

Shares in |

group |

undertakings |

| £

| COST

| At 1 April 2024

| and 31 March 2025 | 20 |  |

| NET BOOK VALUE

| At 31 March 2025 | 20 |  |

| At 31 March 2024 | 20 |  |

Solace In Business Ltd (Registered number: 03150254)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

5. | FIXED ASSET INVESTMENTS - continued

| The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| SEL Business Services Limited

| Registered office: Ground Floor, 2, Red Hall Court, Wakefield, England, WF1 2UN

| Nature of business: Dormant

% |

| Class of shares: | holding |

| £1 Ordinary shares | 100.00 |

2025 | 2024 |

| £ | £

| Aggregate capital and reserves | 20 |  | 20 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade debtors | 750,710 |  | 1,204,654 |  |

| Prepayments and accrued income | 221,732 |  | 409,158 |  |

972,442 |  | 1,613,812 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade creditors | 405,974 |  | 764,411 |  |

| Amounts owed to group undertakings | 21,411 |  | 3,195 |  |

| Social security and other tax | 17,460 |  | 18,054 |  |

| VAT | 95,642 |  | 104,931 |  |

| Other creditors | 6,100 |  | 8,866 |  |

| Accruals and deferred income | 280,637 |  | 306,173 |  |

827,224 |  | 1,205,630 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

| £ | £

| Within one year | 4,657 |  | 4,657 |  |

9. | FINANCIAL INSTRUMENTS

| The company has access to an approved overdraft facility of £150,000 available through National Westminster Bank Plc. The facility 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 company. At 31 March 2025 the unpaid balance drawn down against this facility was £nil.

Solace In Business Ltd (Registered number: 03150254)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

10. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

| £ | £

| Deferred tax | - |  | 635 |  |

Deferred tax |

| £

| Balance at 1 April 2024 | 635 |  |

| Credit to Income Statement during year | (635 | ) |

| Balance at 31 March 2025 | - |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

value: |  | £ | £

| 19 | Ordinary | £1 | 19 |  | 19 |  |

12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Claire Lawton FCA DChA (Senior Statutory Auditor)

| for and on behalf of SMH Jolliffe Cork Audit Ltd

13. | PENSION COMMITMENTS

| The company operates a defined contribution scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, contributions totalling £6,100 (2024: £8,866) were payable to the fund and are included in other creditors.

14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| Non-executive directors receive no remuneration for acting as directors of the company.

Solace In Business Ltd (Registered number: 03150254)

Notes to the Financial Statements - continued

for the year ended 31 March 2025

15. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.

| The company is a wholly owned subsidiary of The Society of Local Authority Chief Executives and Senior Managers (Solace Group) Ltd, a charity registered in England & Wales, whose registered office is:

| Ground Floor,

| 2 Red Hall Court,

| Wakefield,

| England,

| WF1 2UN