Investors

Financial Information

The Directors bear ultimate responsibility for ensuring the ongoing maintenance, accuracy, and integrity of the corporate and financial information published on the company’s website.

This responsibility includes implementing appropriate controls and procedures to safeguard the reliability of such information.

Additionally, it is important to acknowledge that the legislation governing the preparation, presentation, and dissemination of financial statements in the United Kingdom may vary significantly from the regulatory frameworks and legal requirements applicable in other jurisdictions. Such differences underscore the importance of adhering to relevant local laws and maintaining transparency in the communication of financial information.

2024 Annual Report

For the financial year ended 30th June 2024 (6 Months), the company generated revenues of £9.7 million and profit before tax of £7.8 million.

Also in the period, the company was carrying Work in Progress (WIP) in excess of £65 million. WIP is valued in accordance with UK GAPP (FRS 102 – The Financial Reporting Standard). This replaced UITF Abstract 40.

Under FRS 102 the significance of the balance sheet date has been removed. The relevant point for assessing contingent fees is now the date the accounts are signed off. There remains a good deal of subjectivity in the interpretation of FRS 102 in this area. Invariably that means that the accounting treatment between law firms acting in the same areas of law, could be quite different.

Comparing the differing treatments under FRS 102 is a challenge for all law firms. However, The Claims Compensation Group Ltd can measure the contingency value of their work, as the claims system they use, calculates NWNF fees against each client and this is based upon the average value of each claim. Coupled with this is accrued Time Costs and Disbursements. These are added to the NWNF fee and this then gives a true value of the WIP the company is carrying.

FRS 102 dictates how much of the WIP should be included in the accounts, at each stage of the process FRS 102 dictates how much of the WIP should be included in the accounts, at each stage of the process and these are given below.

Trading of Shares.

To facilitate shareholder transactions in the Company, J P Jenkins has been appointed to provide a matched bargain facility. The securities of the Company are not traded on a recognised Exchange.

The Company's Ordinary Shares have been admitted onto the J P Jenkins Ltd share matching platform under the ticker: CCG. JP Jenkins is a liquidity venue for unlisted or unquoted assets in companies, enabling shareholders and prospective investors to buy and sell equity on a matched bargain basis. JP Jenkins is a trading name of InfinitX Limited and Appointed Representative of Prosper Capital LLP (FRN453007).

Trades will be conducted at a level that JP Jenkins is able to match a willing seller and a willing buyer. Trades can be conducted, and limits can be accepted, during normal business hours. Shareholders or potential investors can place limits via their existing UK regulated stockbroker. The indicative price and transaction history are available on J P Jenkins's website at: www.jpjenkins.com.

For more information, please call +44 (0) 20 7469 0937.

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