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REGISTERED NUMBER: 10167241 (England and Wales)











CT GROUP INTERNATIONAL LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditor 5 to 6

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11 to 18


CT GROUP INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Sir Lynton K Crosby AO
M A Textor
S D Muncer





REGISTERED OFFICE: One Strand
Trafalgar Square
London
WC2N 5EJ





REGISTERED NUMBER: 10167241 (England and Wales)





AUDITOR: Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

STRATEGIC REPORT
FOR THE YEAR ENDED 30TH JUNE 2024


The directors present their annual report and the audited financial statements of the company for the period ending 30th June 2024..

REVIEW OF BUSINESS
CT Group International is the intermediate parent company for the operating businesses of the CT Group.

The principal activity of the company remains that of a holding company.

The results of CT Group International Limited, together with the results of its subsidiaries, are disclosed in the financial statements of the ultimate parent CT Group Holdings Limited.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties for CT Group International Limited are the same as for the ultimate parent company and as such are discussed in the financial statements of CT Group Holdings Limited.

ON BEHALF OF THE BOARD:





S D Muncer - Director


11th December 2024

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2024


The directors present their report with the financial statements of the company for the year ended 30th June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of holding company.

DIVIDENDS
The total distribution of dividends for the year ended 30th June 2024 will be £1,100,000 (2023:£6,000,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report.

Sir Lynton K Crosby AO
M A Textor
S D Muncer

STATEMENT OF DIRECTORS' RESPONSIBILITIES
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Under company law the directors must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the company and group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

· select suitable accounting policies and then apply them consistently;

· make judgements and estimates that are reasonable and prudent;

· state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company or group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITOR
All of the current directors have taken all the steps that they ought to have taken to make themselves aware of any information needed by the company's auditor for the purpose of their audit and to establish that the auditor is aware of that information. The directors are not aware of any relevant audit information of which the auditor is unaware.

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2024


AUDITOR
The auditor, Crowe U.K. LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S D Muncer - Director


11th December 2024

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
CT GROUP INTERNATIONAL LIMITED


Opinion
We have audited the financial statements of CT Group International Limited (the "Company") for the year ended 30 June 2024 which comprise the Income statement, Balance Sheet, Statement of changes in equity and Notes to Financial Statement, including a summary of the 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).

In our opinion, the financial statements:

- give a true and fair view of the state of the Company's affairs as at 30 June 2024 and of the its profit for the period for the year then ended.
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the
Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements 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 Company ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. 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 assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude 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.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
CT GROUP INTERNATIONAL LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit

- the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which I am required to report by exception
In light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

" adequate accounting records have not been kept by the Company, or returns adequate for our audit have not been received from branches not visited by us; or
" the financial statements are not in agreement with the accounting records and returns; or
" certain disclosures of directors' remuneration specified by law are not made; or
" we have not received all the information and explanations we require for our audit; or

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine 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 directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements
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.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of my report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Bullock (Senior Statutory Auditor)
for and on behalf of Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW

11th December 2024

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

INCOME STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2024

2024 2023
Notes £    £   

TURNOVER - 40,000

Cost of sales - 14,346
GROSS PROFIT - 25,654

Administrative expenses 613,808 1,911,221
(613,808 ) (1,885,567 )

Other operating income 76,176 -
OPERATING LOSS 4 (537,632 ) (1,885,567 )

Income from shares in group
undertakings

550,000

18,225,653
PROFIT BEFORE TAXATION 12,368 16,340,086

Tax on profit 5 (118,863 ) (347,425 )
PROFIT FOR THE FINANCIAL YEAR 131,231 16,687,511

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30TH JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 131,231 16,687,511


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

131,231

16,687,511

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 27,624 63,453
Investments 8 284,865 284,785
312,489 348,238

CURRENT ASSETS
Debtors 9 6,232,381 5,955,584
Cash at bank and in hand 112,967 71,107
6,345,348 6,026,691
CREDITORS
Amounts falling due within one year 10 6,096,469 4,835,835
NET CURRENT ASSETS 248,879 1,190,856
TOTAL ASSETS LESS CURRENT
LIABILITIES

561,368

1,539,094

PROVISIONS FOR LIABILITIES 11 6,906 15,863
NET ASSETS 554,462 1,523,231

CAPITAL AND RESERVES
Called up share capital 12 148 148
Retained earnings 554,314 1,523,083
SHAREHOLDERS' FUNDS 554,462 1,523,231

The financial statements were approved by the Board of Directors and authorised for issue on 11th December 2024 and were signed on its behalf by:





S D Muncer - Director


CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st July 2022 148 (9,164,428 ) (9,164,280 )

Changes in equity
Dividends - (6,000,000 ) (6,000,000 )
Total comprehensive income - 16,687,511 16,687,511
Balance at 30th June 2023 148 1,523,083 1,523,231

Changes in equity
Dividends - (1,100,000 ) (1,100,000 )
Total comprehensive income - 131,231 131,231
Balance at 30th June 2024 148 554,314 554,462

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

CT Group International Limited 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv),
11.48(b) and 11.48(c);
the requirement of paragraph 33.7.

Preparation of consolidated financial statements
The financial statements contain information about CT Group International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, CT Group Holdings Limited, One Strand, Trafalgar Square, London WC2N 5EJ.

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have had to make the following judgements:-

Revenue

Revenues are either monthly retainers or fixed fee projects which are recognised over the contract life or in line with the delivery of the projects. Where revenues are invoiced in advance they are recognised as deferred income within creditors.

Impairment of Trade Debtors

The recoverable value of trade debtors has been made on the basis of estimations and assumptions regarding their fair value. Likely impairment is calculated with reference to the age of trade debtor and management's understanding of likely recoverability, taking into account the history of the specific client. This provisioning is reviewed by management and compared to the firm's history of recovery to assure they remain materially acceptable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current 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 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 balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 383,553 935,743
Social security costs - 112,956
Other pension costs - 15,590
383,553 1,064,289

The average number of employees during the year was as follows:
2024 2023

Directors 1 1
Administration staff 1 6
2 7

2024 2023
£    £   
Directors' remuneration 63,520 508,447

4. OPERATING LOSS

The operating loss is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery - 3,116
Other operating leases - 48,981
Depreciation - owned assets 35,829 46,664
Auditors' remuneration - 2,493
Foreign exchange differences 2,146 (5,454 )

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


5. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (109,906 ) (379,896 )
Adjustment for earlier year - 35,990
Total current tax (109,906 ) (343,906 )

Deferred tax (8,957 ) (3,519 )
Tax on profit (118,863 ) (347,425 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 12,368 16,340,086
Profit multiplied by the standard rate of corporation tax in the UK
of 25% (2023 - 20.496%)

3,092

3,349,064

Effects of:
Expenses not deductible for tax purposes 15,545 5,187
Income not taxable for tax purposes (137,500 ) (3,735,530 )
Capital allowances in excess of depreciation - (2,136 )
Adjustments to tax charge in respect of previous periods - 35,990

Total tax credit (118,863 ) (347,425 )

6. DIVIDENDS
2024 2023
£    £   
Interim 1,100,000 6,000,000

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


7. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st July 2023
and 30th June 2024 11,348 158,264 169,612
DEPRECIATION
At 1st July 2023 2,829 103,330 106,159
Charge for year 2,402 33,427 35,829
At 30th June 2024 5,231 136,757 141,988
NET BOOK VALUE
At 30th June 2024 6,117 21,507 27,624
At 30th June 2023 8,519 54,934 63,453

8. FIXED ASSET INVESTMENTS
Shares in
group
undertaki
£   
COST
At 1st July 2023 284,785
Additions 80
At 30th June 2024 284,865
NET BOOK VALUE
At 30th June 2024 284,865
At 30th June 2023 284,785

The company's investments at the Balance Sheet date in the share capital of companies include the following:

CT Group (UK) Trading Limited
Registered office: One Strand, Trafalgar Square, London WC2N 5EJ.
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00

CT Group (Australia) Pty Limited
Registered office: Suite 3001, Level 30, 20 Bond Street, Sydney, NSW 2000, Australia
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


8. FIXED ASSET INVESTMENTS - continued

CT Americas LLC
Registered office: 1209 Orange Street, Wilmington 19801, Delaware, USA
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00

Crosby Textor India Private Limited
Registered office: No 1520, One BKC, Bandra Kurla Complex, Mumbai, India
Nature of business: Consultants
%
Class of shares: holding
Ordinary 75.00

CT Solutions & Private Advisory Limited
Registered office: One Strand, Trafalgar Square, London WC2N 5EJ.
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00

CT Group Middle East Pvt Limited
Registered office: Office Unit 45, Gate Village Building 10, Dubai International Financial Centre, Dubai, United Arab Emirates.
Nature of business: Consultants
%
Class of shares: holding
Ordinary 75.00

CT Group (SEA) Pte. Ltd.
Registered office: 8 Marina View, 11-09 Asia Square, Tower 1, Singapore
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00

CT Corporate Advisory Limited
Registered office: One Strand, Trafalgar Square, London WC2N 5EJ.
Nature of business: Consultants
%
Class of shares: holding
Ordinary 25.00

CT Local Limited
Registered office: One Strand, Trafalgar Square, London WC2N 5EJ.
Nature of business: Consultants
%
Class of shares: holding
Ordinary 25.00

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


8. FIXED ASSET INVESTMENTS - continued

CT Group Middle East 2 Limited
Registered office: Unit 31 & 32, Level 25, Al Sila Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 110,519
Amounts owed by group undertakings 6,124,501 5,789,431
Other debtors 42,226 46,974
VAT - 873
Prepayments 65,654 7,787
6,232,381 5,955,584

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,923 5,841
Amounts owed to group undertakings 6,094,533 4,661,804
Other creditors 13 72,190
Accrued expenses - 96,000
6,096,469 4,835,835

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,906 15,863

Deferred
tax
£   
Balance at 1st July 2023 15,863
Capital allowance acceleration (8,957 )
Balance at 30th June 2024 6,906

CT GROUP INTERNATIONAL LIMITED (REGISTERED NUMBER: 10167241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
148 Ordinary £1 148 148

13. 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.

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Dividends paid 1,100,000 6,000,000
Amount due to related party 5,374,860 4,274,780

Entities over which the entity has control, joint control or significant influence exc. wholly owned
2024 2023
£    £   
Dividends received - 5,115,700
Amount due from related party 943,892 217,788

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Fees paid 63,520 68,414

Other companies in the CT Group Holdings Limited group of companies
2024 2023
£    £   
Amount due from related party 43,936 43,936

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors of CT Group Holdings Limited, which is also the immediate and ultimate parent company and whose registered office is One Strand, Trafalgar Square, London WC2N 5EJ.

The results of CT Group International Limited are included in the consolidated accounts of CT Group Holdings Limited.