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REGISTERED NUMBER: 04206160 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 30 November 2024

for

CFG LAW LIMITED

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Contents of the Financial Statements
for the year ended 30 November 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


CFG LAW LIMITED

Company Information
for the year ended 30 November 2024







Directors: A W Fernie
R Clark





Registered office: Oakwater House
4 Oakwater Avenue
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3SR





Registered number: 04206160 (England and Wales)





Auditors: S & W Partners Audit Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Strategic Report
for the year ended 30 November 2024


The directors present their strategic report for the year ended 30 November 2024.

Review of business
2024 was the business' most successful year ever. It continued to focus on its core strategy of becoming the UK's leading serious injury business. It continued to deliver on the strong foundations established in recent trading years as a result of strategic investment. 2024's performance reflects the strong platform which the business has established for itself alongside its unique brand which was launched mid 2023.

As forecast 2024 built on past successful years and provides the positive base for strong performances in future years. Core work sources are firmly established as the source of new work in future years alongside settling cases already within the business. We forecast a strong performance in 2025 and in future years.

Investment continues in support of our clear strategy, focusing on operating processes, colleagues, locations and developing our brand. Most importantly, we will continue to build our network of work sources, delivering long-term sustainable profitable growth in future years. Successful agreements secured within the financial year reported have driven further expansion and have enabled us to expand the office we opened in 2023 in Warwick. We anticipate expanding this office again in 2026, reflecting increasing work volumes in the Midlands and Thames Valley.

We also continue to achieve quicker settlement of cases than the market average, benefiting our clients and their families, whilst minimising lock-up post settlement and delivering settlement values at least in line with other established firms regarded as the benchmark on this metric.

We continue to invest in our brand; CFG - highlighting the established differentiation we now have in the market through our related non-legal services, which we position as More Than Law. In support of this we launched our Community Compass app (available on both Apple and Android app stores) which is a core part of reaching those with a case and, importantly, those without. This reflects our position as a purpose-led business and our focus on Helping all Those Affected by Injury - Together. This development brings together our work with families, charities and those directly impacted by injury to build a community which will, in time, support one another. This is all part of reflecting the core aims of our business: legal excellence, wraparound support and leading change in our sector.

With reference to the latter of those three areas, we continue to make no significant deductions from client damages in serious and catastrophic injury work and have stated our intention publicly to oppose the deduction of shortfall fees in particular. We believe this is one area where the serious injury sector can and must do better and we intend to make this a focus of our campaigning in the future, to the benefit of those we support and in line with our purpose of 'Helping all Those Affected by Injury - Together'.

Our infrastructure investment continues to ensure we maintain a secure platform which can be accessed from anywhere in support of clients alongside skilled colleagues who are focused on delivering our purpose. Main areas of investment in 2024 were:

- Reinforcing and promoting our genuine hybrid working approach which has reduced our premises coss whilst increasing our colleague retention rate
- Expanding our office in Warwick reflecting continued growth
- Fully adopting the SQE training programme
- Continuing to recruit high quality colleagues nationally, particularly in the expanding Midlands and Thames Valley region.

Principal risks and uncertainties
Competitive pressure and further industry reforms are the main risks and uncertainties which also present opportunities which the Directors consider the company is well placed to exploit.

Research and development
We continued to invest in developing our case management system which we believe provides us with a competitive advantage supported by our business information platform. Investment will continue in the future alongside adopting AI solutions where they enhance efficiencies and client experience.

This aligns with our support of a diverse hybrid workforce which we believe is critical in the changing employment and generational landscape.


CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Strategic Report
for the year ended 30 November 2024

Future developments
As stated previously our strategy remains focused on the delivery of long -term sustainable profitable growth across the UK, delivering legal excellence and market-leading damages levels and settlement times whilst also offering clients and families our renowned wraparound support and also leading change in our sector to the benefit of those we work with.

We anticipate further partnerships coming on stream in the financial year 2025 in line with our strategic plans, increasing the value and volume of new business and enabling us to help more people affected by injury.

Financial instruments
Objectives and policies

The company’s principal financial instruments comprise bank balances, trade debtors, trade creditors and bank loans to the business. The main purpose of these instruments is to finance the company's operations.

Price risk, credit risk, liquidity risk and cash flow risk
In respect of bank balances, the liquidity risk is managed by holding cash balances in such a way that achieves a competitive rate of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Loans comprise loans from financial institutions. The interest rates and payment terms are fixed. The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.

On behalf of the board:





R Clark - Director


7 May 2025

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Report of the Directors
for the year ended 30 November 2024


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

Principal activity
The principal activity of the company in the year under review was that of the provision of serious and catastrophic injury legal services to clients in the UK, alongside emerging Court of Protection and clinical negligence practices.

Dividends
The total distribution of dividends for the year was £Nil

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

A W Fernie
R Clark

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. These have been prepared on the assumption that the bank will continue to support the company. Based on these assessments and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Auditors
S & W Audit Partners Limited was formerly Haines Watts Manchester Limited and so the auditors remain unchanged.

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company 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 accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company 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 auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:



R Clark - Director


7 May 2025

Report of the Independent Auditors to the Members of
CFG Law Limited


Opinion
We have audited the financial statements of CFG Law Limited (the 'company') for the year ended 30 November 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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 November 2024 and of its profit 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 Auditors' 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 directors' 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's 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 other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the 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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, 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.

Report of the Independent Auditors to the Members of
CFG Law Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

- We perform walkthrough testing to confirm that the company's own controls were operating correctly;
- We test a sample of sales and purchases to confirm they are accounted for correctly and are appropriately disclosed;
- We test a sample of debtors and creditors to confirm they are correctly stated;
- We test a sample of journals to confirm they are genuine transactions;
- We review accounting estimates, in particular those relating to work in progress, to confirm they are reasonable.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Report of the Auditors.

Use of our 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 a Report of the Auditors 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.




Antony Sassen FCA (Senior Statutory Auditor)
for and on behalf of S & W Partners Audit Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

9 May 2025

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Statement of Comprehensive
Income
for the year ended 30 November 2024

2024 2023
Notes £ £

Turnover 7,247,423 6,675,046

Administrative expenses (6,282,491 ) (6,044,949 )
Operating profit 5 964,932 630,097


Interest payable and similar expenses 6 (78,652 ) (50,243 )
Profit before taxation 886,280 579,854

Tax on profit 7 (224,716 ) (144,458 )
Profit for the financial year 661,564 435,396

Other comprehensive income - -
Total comprehensive income for the year 661,564 435,396

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Balance Sheet
30 November 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 8 - -
Tangible assets 9 270,632 294,998
Investments 10 250,000 250,000
520,632 544,998

Current assets
Debtors 11 6,533,377 6,505,652
Cash in hand 178 178
6,533,555 6,505,830
Creditors
Amounts falling due within one year 12 2,574,628 3,415,682
Net current assets 3,958,927 3,090,148
Total assets less current liabilities 4,479,559 3,635,146

Creditors
Amounts falling due after more than one
year

13

(342,747

)

(142,398

)

Provisions for liabilities 17 - (17,500 )
Net assets 4,136,812 3,475,248

Capital and reserves
Called up share capital 18 1,501 1,501
Retained earnings 19 4,135,311 3,473,747
Shareholders' funds 4,136,812 3,475,248

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





R Clark - Director


CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Statement of Changes in Equity
for the year ended 30 November 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 December 2022 1,501 3,038,351 3,039,852

Changes in equity
Total comprehensive income - 435,396 435,396
Balance at 30 November 2023 1,501 3,473,747 3,475,248

Changes in equity
Total comprehensive income - 661,564 661,564
Balance at 30 November 2024 1,501 4,135,311 4,136,812

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements
for the year ended 30 November 2024


1. Statutory information

CFG Law 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.

2. Statement of compliance

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" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. These have been prepared on the assumption that the bank will continue to support the company. Based on these assessments and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption 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.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year are addressed below.

(i) Accrued income valuation

The valuation of accrued income involves a number of estimates including prospects of success and liability status.

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


3. Accounting policies - continued

Turnover
Turnover represents the fair value of professional services provided during the year to clients. Fair value reflects the amount expected to be recoverable from clients and is based on time spent, skills and expertise provided and expenses incurred, but excludes Value Added Tax.

Turnover in respect of contingent fee assignments is recognised in the period when the contingent event occurs. The anticipated fee is discounted for the liability status and the prospects of success.

Turnover which has been recognised but not invoiced is included in other debtors as accrued income.

Goodwill
Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of the entity's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation is provided so as to write off the cost, less any estimated residual value, over the expected useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% straight line and 10% straight line
Fixtures and fittings - 33% straight line
Motor vehicles - 20% straight line
Computer equipment - 33% straight line

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

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

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


3. Accounting policies - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, loans to fellow group companies that are classified as debt and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies that are classified as debt, 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 receipts discounted at a market rate of interest.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


4. Employees and directors
2024 2023
£ £
Wages and salaries 3,392,745 3,306,459
Social security costs 407,552 368,674
Other pension costs 118,493 99,340
3,918,790 3,774,473

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

Administration and support 3 19
Other departments 73 55
76 74

2024 2023
£ £
Directors' remuneration 245,592 191,400

Information regarding the highest paid director for the year ended 30 November 2024 is as follows:
2024
£
Emoluments etc 185,802

5. Operating profit

The operating profit is stated after charging:

2024 2023
£ £
Other operating leases 132,379 108,517
Depreciation - owned assets 119,833 124,100
Loss on disposal of fixed assets 31,260 -
Auditors' remuneration 8,500 8,000

6. Interest payable and similar expenses
2024 2023
£ £
Bank interest - 6,502
Loan 69,353 42,469
Hire purchase 9,299 1,272
78,652 50,243

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 242,216 159,258

Deferred tax (17,500 ) (14,800 )
Tax on profit 224,716 144,458

UK corporation tax was charged at 23.01%) in 2023.

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

2024 2023
£ £
Profit before tax 886,280 579,854
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 23.010%)

221,570

133,424

Effects of:
Expenses not deductible for tax purposes - 6,785
Depreciation in excess of capital allowances 3,146 4,249

Total tax charge 224,716 144,458

8. Intangible fixed assets
Goodwill
£
Cost
At 1 December 2023
and 30 November 2024 775,000
Amortisation
At 1 December 2023
and 30 November 2024 775,000
Net book value
At 30 November 2024 -
At 30 November 2023 -

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


9. Tangible fixed assets
Fixtures
Improvements and Motor Computer
to property fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 December 2023 600,988 249,867 115,127 156,876 1,122,858
Additions - 1,850 105,000 19,877 126,727
Disposals (173,423 ) - - - (173,423 )
At 30 November 2024 427,565 251,717 220,127 176,753 1,076,162
Depreciation
At 1 December 2023 415,173 249,031 23,025 140,631 827,860
Charge for year 62,083 397 46,051 11,302 119,833
Eliminated on disposal (142,163 ) - - - (142,163 )
At 30 November 2024 335,093 249,428 69,076 151,933 805,530
Net book value
At 30 November 2024 92,472 2,289 151,051 24,820 270,632
At 30 November 2023 185,815 836 92,102 16,245 294,998

10. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 December 2023
and 30 November 2024 250,000
Net book value
At 30 November 2024 250,000
At 30 November 2023 250,000

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

CFG Trust Corporation Ltd
Registered office: Oakwater House, 4 Oakwater Avenue, Cheadle Royal Business Park, Cheadle, Cheshire, SK8 3SR
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


11. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 1,276,821 1,077,967
Other debtors 275,566 473,926
Directors' current accounts 850,000 850,000
Tax 212,500 212,500
Prepayments and accrued income 3,918,490 3,891,259
6,533,377 6,505,652

12. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts (see note 14) 1,491,276 2,324,351
Hire purchase contracts (see note 15) 20,485 10,375
Trade creditors 56,251 76,246
Amounts owed to group undertakings 250,000 250,000
Corporation tax 242,506 159,548
Social security and other taxes 90,447 92,643
VAT 210,820 309,157
Other creditors 4,746 5,823
Accrued expenses 208,097 187,539
2,574,628 3,415,682

13. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans (see note 14) 187,500 59,375
Hire purchase contracts (see note 15) 155,247 83,023
342,747 142,398

14. Loans

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 709,309 1,896,914
Bank loans 781,967 427,437
1,491,276 2,324,351

Amounts falling due between one and two years:
Bank loans 1-2 years 187,500 59,375

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


15. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 20,485 10,375
Between one and five years 155,247 83,023
175,732 93,398

Non-cancellable
operating leases
2024 2023
£ £
Within one year 59,321 55,421
Between one and five years 64,061 27,890
123,382 83,311

16. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdrafts 709,309 1,896,914

The company's bankers hold a debenture dated 29 November 2007 as security for any bank overdrafts. The security incorporates a fixed and floating charge over the undertaking and all property and assets both present and future.

17. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances - 17,500

Deferred tax
£
Balance at 1 December 2023 17,500
Credit to Statement of Comprehensive Income during year (17,500 )
Balance at 30 November 2024 -

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


18. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,500 Ordinary £1 1,500 1,500
1 Ordinary redeemable £1 1 1
1,501 1,501

There are no restrictions on the voting rights of the ordinary shares nor on their rights to dividends and to participate in any surplus.

The ordinary redeemable share has no voting rights and is repayable at par on a winding up or other repayment of capital. It is entitled to dividends as declared on the class.

19. Reserves
Retained
earnings
£

At 1 December 2023 3,473,747
Profit for the year 661,564
At 30 November 2024 4,135,311

20. Ultimate parent company

Client First Group Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The company is a 100% subsidiary of Client First Group Holdings Limited, a company incorporated in England and Wales. Claire Fernie control Client First Group Holdings Limited as she owns 100% of its Ordinary shares and 90% of its A Ordinary shares.

Client First Group Holdings Limited is the sole parent company of the group of which the company is a member and for which group accounts are drawn up. Copies of the group accounts are available from 4 Oakwater Avenue, Cheadle Royal Business Park, Cheadle, Cheshire SK8 3SR.

21. Contingent liabilities

CFG Law Limited has guaranteed a bank loan creditor of a related party, The Client First Group Limited. At 30 November 2024 the amount outstanding was £nil (2023 - £825,288).

22. Directors' advances, credits and guarantees

A director had an overdrawn loan account of £850,000 at 30 November 2023 and 30 November 2024. There were no advances or credits during the year.

The above loan is interest free and repayable on demand.

23. 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.

CFG LAW LIMITED (REGISTERED NUMBER: 04206160)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


23. Related party disclosures - continued

At 30 November the company was owed £251,822 (2023 £484,786) by a company under common control.

Purchases from this company during the year amounted to £99,437 (2023 £193,353).

24. Ultimate controlling party

The controlling party is Claire Fernie.