In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solon SPC No1 Limited for the period ended 31 December 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Solon SPC No1 Limited, as a body, in accordance with the terms of our engagement letter dated 17 December 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Solon SPC No1 Limited and state those matters that we have agreed to state to the board of directors of Solon SPC No1 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solon SPC No1 Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Solon SPC No1 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Solon SPC No1 Limited. You consider that Solon SPC No1 Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Solon SPC No1 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

Solon SPC No1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Fontburn Road, Bedlington, Northumberland, NE22 5JB .

The financial statements are prepared for the first period to 31 December 2024 following incorporation on 25 March 2024. The financial statements will be prepared annually thereafter.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statementstrue the company was in a net current liability and net liability position, however, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future on the basis that the company will continue to receive financial support from the parent, group shareholders and directors. This support includes further funding where required. The directors have considered relevant information, including the company’s principal risks and uncertainties. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including other liabilities and bonds, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The average monthly number of persons (including directors) employed by the company during the period was 6.

Included in other creditors are bond liabilities on which interest is accrued at 13% per annum and reach maturity on 31 July 2027. The liability is secured against the assets of the company and those of its immediate parent company.

At the balance sheet date the company was owed £71,700 by Solon Litigation Solutions Ltd a fellow group undertaking.

At the balance sheet date the company was owed £10 by the parent company, Solon Holdings Limited.

At the balance sheet date the company owed £172 to Global Litigation Limited, a connected company.

The parent company is Solon Holdings Limited, whose registered office is 15 Fontburn Road, Bedlington, England, NE22 5JB.