Registered Office 24 Marun Lane London ECAR ODR. TED SOLICITORS INDEMNITY FUND Lt REPORT AND ACCOUNTS. FOR THE 12 MONTHS ENDED 30 SEPTEMBER 2007 Registered No 2143641 coy WN l 24 22/07/2008 78 ‘COMPANIES HOUSESOLICITORS INDEMNITY FUND LIMITED - Registered No 2143641 CONTENTS Pages Directors’ Report 2 ‘Statement of Directors’ Responsibilities 3 Profit and Loss Account 4 Balance Sheet 5 Cash Flow Statement 6 Notes to the Financial Statements 18 Independent Auditors’ Report 9SOLICITORS INDEMNITY FUND LIMITED DIRECTORS’ REPORT ‘The directors have pleasure in submitting thear annual report, together with the audited financial statements, for the year ended 30 September 2007 Review of the Business ‘The Company holds, manages and edmunisters the Solicitors Indemnity Fund (the Fund) established by the Law Soctety under ‘Section 37 of the Solicitors Act 1974 as ns sole operation and business ‘The Company entered into an agreement with Legal and Professional Clams Limuted, a company wholly owned by the Law Soctety of England & Wales, on 26 July 2007 for the provision of admimstranve services in connection with the run-off of the Fund for a period of five years to 31 July 2012 and thereafter at one year’s notice of termination All expenses incurred by the Company are reimbursed by the Fund and the Company has no retained reserves Future Developments ‘The Fund went into run-off on I September 2000, following the decision of the Council of the Law Society The Company will continue to hold, manage and admumster the Fund in run-off as ts sole operation and business Statement as to Disclosure to Auditors, So far as each director 1s aware, there 1S no relevant audit information of which the company's euditors are unaware and teach director has taken all the steps that he ought to have taken as a director to make himself aware of any information and to establish that the company’s auditors are aware of that information Directors DA Melntosh (Chairman 16 February 2007) PH Marsh (Resigned 15 February 2007) BV Day OBE 1K Holder D Hudson (Appointed 24 May 2007) TGR Lawrence DC Mander (Resigned 31 July 2007) MR Mathews WR Treen PM Venton (Resigned 26 July 2007) D Ward (Resigned 31 July 2007) Directors’ and Officers’ Liability insurance During the year, the Company purchased and maintained lability msurance for ws directors and officers as permitted by section 310(3) of the Companies Act 1985 By Order of the Board A Darby Secretary ms 2008