Annual Report and
Accounts 2005 Highlights of 2005    1
Company Information    2
Chairman’s Statement    3
Chief Executive’s Report    4
Board of Directors    6
Directors’ Report    8
Corporate Governance Report    11
Statement of Directors’ Responsibilities    15
Independent Auditors’ Report to the Members    16
Consolidated Income Statement    18
Consolidated Statement of changes in Shareholders’ Equity    19
Consolidated Balance Sheet    20
Company Balance Sheet    21
Consolidated Cash Flow Statement    22
Notes to the Financial Statements    23
Notice of Annual General Meeting    35
Contents Annual Report and Accounts 2005 1
 Turnover for the year has increased from
£2,665,677 to £2,714,937
 Consultancy income increased significantly from
£48,096 to £358,749
 Profit after tax for the year has declined from
£278,163 to £51,941
 Expansion of consultancy services and range
of loss adjusting services
The Claims People Group plc provides a range of 
claims handling, loss adjusting and consultancy services 
to the insurance industry. 
The Group employs leading edge technology with a
unique web-based claims notification and monitoring system
and utilises a low cost centralised operating model.
Highlights of 2005 Directors Frederick John French (Non Executive Chairman)
Graham Cole (Non Executive)
Barry Ian Whyte (Chief Executive)
Dominic Boyce (Finance Director – appointed 12.07.05)
David Croston (Operations Director)
Peter Martin Morgan (Finance Director – resigned 12.07.05)
Secretary Peter Martin Morgan
Registered office 49 Southwark Street
London
SE1 1RU
Registered number 3922895
Registered auditors Saffery Champness
Chartered Accountants
Lion House
Red Lion Street
London
WC1R 4GB
Nominated advisers and brokers Seymour Pierce Limited
Bucklersbury House
3 Queen Victoria Street
London
EC4N 8EL
Solicitors Eversheds
70 Great Bridgewater Street
Manchester
M1 5ES
Bankers HSBC Bank Plc
49 Corn Street
Bristol
BS99 7PP
Registrars Capita Registrars
Northern House
Woodsome Park
Fennabridge
Huddersfield
HD8 0LA
Company Information
Annual Report and Accounts 2005 2 Annual Report and Accounts 2005 3
I am pleased to be able to announce our results for the
financial year, which demonstrate the Group’s resilience in
adverse trading conditions. As you will see, turnover for
2005 increased modestly by 2% to £2.71 million (2004:
£2.67 million) although profit after tax decreased to
£51,941 (2004: £278,163).  
Overall, we had a challenging year as the mild weather
depressed claims volumes which have, of course,
traditionally been significantly dependant on weather
related losses. Nevertheless, we have continued our efforts
to reduce our reliance on such losses with significant
success in the second half of the year. Consultancy
income increased to £359,000 (2004: £48,000) and we
also commenced the first stage of our partnership
relationship with Capita Insurance Services by entering into a contract to provide Liability
adjusting services.
Costs and cash-flow continue to be monitored carefully and additional margin gains are
achievable as our level of activity increases.  
Whilst the current financial year, commencing 1st January, continues to display low
volumes of weather related claims, we anticipate that the Group’s results will ultimately
benefit from our efforts to diversify our services. 
We remain committed to investment in our information technology infrastructure and
expect to make further advancements in the use of IT in our field adjusting services.
As always, I wish to thank our loyal employees and our shareholders for their support.  
JOHN FRENCH
Chairman
22nd March 2006
Chairman’s Statement 2005 has been a testing and yet, ultimately, stimulating
year for the Claims People during which the Company 
was faced with a number of challenges. Looking back, 
I believe that whilst progress was clearly slow, the
fundamental resilience of the Company was again
demonstrated. 
Operations 
Overall, despite less than favourable Market conditions for
traditional loss adjusting, the Company achieved modest
growth. Claims People were also particularly delighted,
towards the end of the Financial Year, to cement a
strategic alliance with the Insurance Services arm of the
world class Capita Group. Under the agreement, a number
of loss adjusters transferred to Claims People and commenced work specifically in the
Liability field, an area in which the Company perceives there to be growth potential. 
The most significant new development affecting turnover during the year was the
Groups expansion of its ‘i-Team’ concept under which implant teams are provided to
clients to facilitate the maintenance of consistent service standards. This new concept
provided valuable additional revenue and it is our intention to build demand for this
service in the future. We also were pleased to extend our activities into the Creditor field
for the first time.
Industry Perspective
There seems little doubt that the current era of consolidation in the UK Insurance
industry is continuing to influence the claims management and loss adjustment arena.
Whilst the number of major sources of domestic and small commercial claims has
reduced slightly as a direct result of consolidation, the current practice of most insurers
to utilise the suppliers of goods and services for the direct satisfaction of lower value
claims, has also been a major factor in reducing the numbers of smaller claims being
referred to loss adjusters. Whilst there is evidence that this trend may have peaked,
there is, as yet, no significant indication that claims available for allocation to adjusters
are materially increasing in number. The lack of any major weather-related incidents in
the UK market was also significant in 2005. 
Chief Executive’s Report
Annual Report and Accounts 2005 4 The need for claims management companies to be innovative is thus clearly apparent
and the Group has taken steps to widen its appeal and range of activities to good
effect, as illustrated by the moves into the Liability, Creditor and consultancy fields
referred to earlier. This process of appropriate diversification will continue.
Conclusion
As mentioned in the Chairman’s statement, we are committed to enhancing our IT
capabilities and I expect us to particularly improve our field applications during 2006.
We are, as always, seeking opportunities to grow the business in a number of directions
and look forward to resuming the Groups progress in the year ahead.
BARRY WHYTE
Chief Executive
22nd March 2006
Annual Report and Accounts 2005 5 F John French 
Non-executive Chairman
Duties include investor relations, Chairmanship of the Remuneration
Committee and membership of the Audit Committee.  
John French has had extensive experience in many aspects of
corporate management and fundraising with a demonstrable forty
year track record in advising and leading PLC’s and growth
businesses within a variety of sectors. With four current directorships
held at companies operating in industries ranging from defence through to healthcare
coupled with a position on the Ofex Advisory Panel, he has provided regular
commentary and opinion at both Trade and City forums, as well as to the National 
and International media.
Graham Cole 
Non-executive Director
Chairman of the Audit Committee and member of the Remuneration
Committee.
Graham, a chartered accountant, was formerly a partner in Coopers
& Lybrand, Chartered Accountants and a director of Beeson Gregory
Group plc. He currently specialises in advising growth companies
and acts as non-executive director for a number of listed companies.
Graham was the recipient in 2002 of the Life Time Achievement Award for services to
the Mid-Cap plc market.
Board of Directors
Annual Report and Accounts 2005 6 Barry Whyte ACII, FCILA 
Chief Executive
Responsible for the overall strategic direction and development of
the group and actively involved in the marketing of its services.
Barry has an extensive insurance background and is a 
Chartered Loss Adjuster. He was formerly Managing Director 
of Miller Knight. 
Dominic Boyce FCCA 
Finance Director
Responsible for the financial management of the group. He is a member
of the Remuneration Committee and an adviser to the audit committee.
Previously a founding partner of an accounting firm in Trinidad and
subsequently Finance Manager with Alwen Hough Johnson Limited,
Reinsurance Brokers in London.
David Croston ACII, FCILA 
Operations Director
Prime duties encompass the operation of the loss adjusting and
claims management sectors of the business.
A Chartered Loss Adjuster and previously Operations Director of
Miller Pycraft, responsible for the South West and Central region.
Annual Report and Accounts 2005 7 The Directors submit their report and the audited financial statements of The Claims
People Group Plc and its subsidiaries for the year ended 31 December 2005.
Principal activity
The Group provides claims handling, consultancy and website facilities to the 
insurance industry.
Review of the year
A detailed review of the Group’s activities, the development of its business and an
indication of likely future developments may be found in the Chairman’s statement 
on page 3.
Results and dividends
The profit of the Group for the year, after taxation was £51,941 (2004: £278,163). 
The Directors do not recommend the payment of a dividend.
Directors
The Directors who have held office during the period were as follows:
Executive: Non-Executive:
Barry Whyte John French
Dominic Boyce – appointed 12.07.05 Graham Cole
David Croston
Peter Morgan – resigned 12.07.05
Directors’ interests
The Directors in office at 31 December 2005 had the following beneficial interest in the
ordinary shares of the Company:
Ordinary shares of 1.5p each
31 December 2005 31 December 2004
Barry Whyte 4,116,681 4,116,681
David Croston 3,301,681 3,281,681
John French 48,000 48,000
Graham Cole 240,000 240,000
There were no changes to the above shareholdings between the year end and the date
of this report.
Directors’ Report
For the year ended 31 December 2005
Annual Report and Accounts 2005 8 The Company operates an Executive Share Option Scheme. Under the Scheme, each
of Barry Whyte and David Croston held options over 1,250,000 ordinary shares of 1.5p
each at 31 December 2004 and 31 December 2005. In addition, each of Barry Whyte
and David Croston held options at 31 December 2004 and 31 December 2005 over
such number of shares which equals the percentage set out below of the issued share
capital of the Company on the date on which the option is exercised minus 1,250,000
ordinary shares of 1.5p each:
Barry Whyte 6.4%
David Croston 5.28%
All the above options have an exercise price of 8p per share.
Biographical details
Biographical details of the Directors can be found on page 6.
Substantial shareholdings
Apart from the interests of the Directors referred to above, the Company has received
the following notifications of holdings of more than 3% in the ordinary share capital of
the Company as at the date of this report.
Chase Nominees Limited 14,103,500
Firgrove Investments Limited 7,499,994
Barclayshare Nominees Limited 3,607,646
TD Waterhouse Nominees (Europe) Limited 3,469,897
Post balance sheet events
None. 
International Accounting Standards (“IAS”)
The Board has agreed to adopt IAS with effect from 1 January 2005 although it is not
required to do so until 1 January 2007. The directors do not consider the adoption of
IAS will have a material impact on the financial statements.
Payment policy
The Group applies a policy of agreeing payment terms with each of their main suppliers
and aims to abide by these terms, subject to satisfactory performance by suppliers.
Creditor days at 31 December 2005 were 36 days (31 December 2004: 48 days).
Annual Report and Accounts 2005 9 Auditors
Those Directors who comprise the audit committee review the terms of reference for the
auditors and obtain written confirmation that the firm has complied with its ethical
guidance on ensuring its independence. Saffery Champness provide audit services to
the Company in connection with its annual audit as well as corporation tax compliance
services. The level of fees charged is reviewed by the Board to ensure they remain
competitive and to ensure no conflicts of interest arise. 
A resolution to re-appoint Saffery Champness as auditors to the Company will be put to
the members at the Annual General Meeting.
By order of the board
D Boyce
Finance Director
22nd March 2006
Directors’ Report continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 10 Financial aspects of corporate governance
The Company is committed to achieving high standards of corporate governance. 
The Company aims to comply with the Combined Code (“the Code”) which is 
appended to the Listing Rules of the UK Listing Authority and has adopted a framework
for corporate governance which it believes is suitable for a company of its size.
The Board is accountable to shareholders for the governance of the Company’s affairs.
The Directors have reviewed the principles outlined in the Code and believe that, insofar
as they are relevant to a company of its size, they have complied with the provisions of
the Code.
Directors’ Statement of Compliance with the revised Combined
Code on Corporate Governance
In July 2003, a revised Combined Code on Corporate Governance (the revised Code)
was published by the Financial Reporting Council, which came into effect for accounting
periods commencing on or after 1 November 2003. The Directors have reviewed the
detailed principles and recommendations outlined in the revised Code and believe that,
to the extent that they are relevant to the Company’s business, they have complied with
the provisions of the Code during the year ended 31 December 2005 and that the
Company’s current practice is in all material respects consistent with the principles of
the revised Code.
The Board also confirms that, to the best of its knowledge and understanding,
procedures were in place to meet the requirements of the revised Code relating to
internal controls throughout the year under review. This statement describes how the
principles of the revised Code have been applied in the affairs of the Company.
The Board
The Board currently consists of five members, two of whom are Non-Executive
Directors. Given the size of the Board it is not considered appropriate to have a Senior
Independent Director.
The Board met on ten occasions throughout the year and all directors were present with
the exception of Mr G Cole who was unable to attend two meetings. All major decisions
as to the direction and control of the Company are taken by the full Board. No one
Director has unfettered powers of decision. The Group’s day to day operations are
managed by the Executive Directors. All Directors have access to the Company
Secretary and any Director needing independent professional advice in the furtherance
of his duties may obtain this advice at the expense of the Company. The Executive
Directors have a one-year rolling service agreement with the Company.
Corporate Governance Report
For the year ended 31 December 2005
Annual Report and Accounts 2005 11 The revised Code requires that this report should identify each non-executive director
the Board considers to be independent in character and judgement and whether there
are relationships or circumstances which are likely to affect, or could appear to affect,
the director’s judgement, stating its reasons if it determines that a director is independent
notwithstanding the existence of relationships or circumstances which may appear to be
relevant to its determination. In the Board’s opinion both Messrs French and Cole are
considered to be independent in both character and judgement. Accordingly two of the
five Board members are independent.
Under the Articles of Association, all Directors are subject to periodic retirement and 
re-election by shareholders. In order to comply with the revised Code and the Articles 
of Association, the Directors have adopted a policy providing for all directors to submit
themselves for re-election at least every three years.
Accordingly Mr Whyte shall retire, and, being eligible, shall offer himself for re-election. 
A resolution to re-elect Mr Whyte is contained with the Notice of the Annual General
Meeting on page 35.
Mr Whyte has actively contributed in meetings throughout the year. Following a formal
performance evaluation, the other Board members recommend that shareholders vote
for the re-election of Mr Whyte as they believe that his skills, knowledge and overall
performance is of continued benefit to the Company.  
Corporate Governance Committees
The Board has established two Committees comprising the Non-Executive Directors
and one Executive Director. The members are:
Audit Remuneration
John French John French
Graham Cole Graham Cole
Dominic Boyce
Dominic Boyce is invited to attend the audit committee meetings.
The Board does not consider it necessary to have a Nomination Committee.
The Audit Committee
The Audit Committee which is chaired by Mr Cole, met twice last year to review the
audit process and the published financial information, the effectiveness of external audit
and internal controls.
The primary responsibilities of the Audit Committee are to review the effectiveness of the
internal control environment of the Company and to monitor adherence to best practice
in corporate governance; to make recommendations to the board in relation to the 
re-appointment of the Auditors and to approve their remuneration and terms of
engagement; and to review and monitor the Auditors’ independence and objectivity 
and the effectiveness of the audit process and provide a forum through which the
Company’s Auditors report to the Board. The Audit Committee also has responsibility 
for monitoring the integrity of the financial statements and accounting policies of the
Corporate Governance Report continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 12 Company. Committee members consider that individually and collectively they are
appropriately experienced to fulfil the role required.
Saffery Champness, the company’s Auditors, attend the meeting of the Audit
Committee to approve the financial statements and Annual Report and have direct
access to Committee members. The chairman of the Audit Committee will be present at
the Annual General meeting to deal with any questions relating to the accounts.
In addition, the Audit Committee has considered the requirement for an internal audit
function and has concluded that given the current state of operations no internal audit
department is required.
Remuneration Committee
The terms of reference of the Remuneration Committee which is chaired by Mr French are:
 recommend to the Board a framework for rewarding senior management, including
Executive Directors, bearing in mind the need to attract and retain individuals of the
highest calibre and with the appropriate experience to make a significant contribution
to the Group; and
 ensure that the elements of the remuneration package are competitive and help in
underpinning the performance-driven culture of the Group.
The Remuneration Committee did not meet in the year although the remuneration of the
Executive directors has increased following an improvement in the Company’s trading.
It should be noted however, that the remuneration paid is in line with that outlined in the
company’s AIM Admission Document.
Internal Control
The Directors acknowledge their responsibility for the Group’s system of internal control
and for reviewing its effectiveness. This is an ongoing process designed to ensure
adherence to the Group’s policies whilst safeguarding the assets of the Group, in addition
to ensuring the management of the risks faced by the Group. This process has been in
place throughout the period and up to the date of signing this report. Responsibility for
implementing a system of internal controls is delegated to the Finance Director.
An ongoing process, in accordance with the Turnbull Committee on internal control, 
is established for identifying, evaluating and managing risks faced by the Group. 
A formal risk identification and analysis was conducted in the current financial year.
The risk management process and systems of internal control are designed to manage
rather than eliminate the risk of failure to achieve the Group’s objectives. It should be
recognised that such systems can only provide reasonable, not absolute assurance
against material misstatement or loss.
In accordance with guidance issued to directors of listed companies, the Directors have
carried out a review of the effectiveness of internal controls as they have operated
during the year.
Annual Report and Accounts 2005 13 Internal Control Assessment Process
Risk assessment and the review of internal controls are undertaken by the Board in the
context of the Group’s overall strategy. The review covers the key business, operational,
compliance and financial risks facing the Group. In arriving at its judgement of what risks
the Group faces, the Board has considered the Group’s operations in the light of the
following factors:
 The nature and extent of risks which it regards as acceptable for the Group to bear
within its overall business objective;
 The threat of such risks becoming a reality;
 The Group’s ability to reduce the incidence and impact of risk on its performance; and
 The cost and benefits to the Group of operating the relevant controls.
Against this background, the Board has split its review into the following areas:
 Corporate strategy;
 Published information, compliance with laws and regulations; and
 Relationships with service providers.
Internal control
The key procedures established with a view to providing effective internal control are 
as follows:
 Strategic business planning Detailed financial projections for the current
financial year are prepared and subject to formal review at least twice a year.
 Performance review The Directors aim to monitor the Group’s performance
through the preparation of monthly management accounts and regular reviews of
work in progress, cash flow projections and the pipeline of future work.
 Review of internal control Compliance with operating control procedures is
covered by the Group’s external auditors to the extent necessary to form their
opinion as to the truth and fairness of the financial statements.
Relations with shareholders
Communication with shareholders is given a high priority by the Board and the Directors
are available to enter into dialogue with shareholders. All shareholders are encouraged
to attend and vote at the Annual General Meeting during which the Board is available to
discuss issues affecting the Company. In addition the company maintains a website
(www.theclaimspeople.com) containing information on the Company of interest to
corporate and private shareholders.
Going Concern
The Directors have a reasonable expectation that the Company has adequate resources
to continue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concern basis in preparing the financial statements.
Corporate Governance Report continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 14 Company law requires the Directors to prepare financial statements for each financial
year which 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 those 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;
 prepare the financial statements on a going concern basis unless it is inappropriate
to presume that the Company will continue in business; and
 state whether applicable accounting policies have been followed, subject to any
material departures disclosed and explained in the financial statements.
The Directors are responsible for keeping proper accounting records, which disclose
with reasonable accuracy at any time the financial position of the Company and Group
and to enable them to ensure that the financial statements comply with the Companies
Act 1985. The Directors are responsible for ensuring that the Directors’ Report and
other information included in the Annual Report is prepared in accordance with
Company Law in the United Kingdom and for ensuring that the Annual Report includes
information required by the AIM Rules. They are also responsible for safeguarding the
assets of the Group and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
Statement of Directors’ Responsibilities
For the year ended 31 December 2005
Annual Report and Accounts 2005 15 We have audited the financial statements of The Claims People Group plc for the year
ended 31 December 2005 on pages 18 to 22 which have been prepared under the
historical cost convention and the accounting policies set out on page 23.
Respective responsibilities of directors and auditors
The Directors’ responsibilities for preparing the annual report and the financial
statements in accordance with applicable law and International Accounting Standards
are set out in the statement of Directors’ responsibilities.
Our responsibility is to audit the financial statements in accordance with relevant legal
and regulatory requirements and International Auditing Standards.
This report is made solely to the Company’s members, as a body, in accordance with
Section 235 of the Companies Act 1985. 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.
We report to you our opinion as to whether the financial statements give a true and fair
view and are properly prepared in accordance with the Companies Act 1985. We also
report to you if, in our opinion, the Directors’ report is not consistent with the financial
statements, if the Company has not kept proper accounting records, if we have not
received all the information and explanations we require for our audit, or if information
specified by law regarding Directors’ remuneration and transactions with the Company
is not disclosed.
We read the other information contained in the annual report and consider whether it is
consistent with the audited financial statements. This other information comprises only
the Directors’ report, the Chairman’s statement, the Chief Executive’s report and the
corporate governance report. We consider the implications for our report if we become
aware of any apparent misstatements or material inconsistencies with the financial
statements. Our responsibilities do not extend to any other information. We are not
required to consider whether the Board's statements on internal control cover all risks
and controls, or form an opinion on the effectiveness of the Group's corporate
governance procedures or its risk and control procedures.
Independent Auditors’ Report to the Members
Year ended 31 December 2005
Annual Report and Accounts 2005 16 Basis of audit opinion
We conducted our audit in accordance with International Auditing Standards issued by
the Auditing Practices Board. An audit includes examination, on a test basis, of
evidence relevant to the amounts and disclosures in the financial statements. It also
includes an assessment of the significant estimates and judgements made by the
Directors in the preparation of the financial statements, and of whether the accounting
policies are appropriate to the Group’s circumstances, consistently applied and
adequately disclosed.
We planned and performed our audit so as to obtain all the information and
explanations which we considered necessary in order to provide us with sufficient
evidence to give reasonable assurance that the financial statements are free from
material misstatement, whether caused by fraud or other irregularity or error. In forming
our opinion we also evaluated the overall adequacy of the presentation of information 
in the financial statements.
Opinion
In our opinion the financial statements:
 give a true and fair view, in accordance with International Accounting Standards of
the state of affairs of thecompany and the Group as at 31 December 2005 and of
the profit of the group for the year then ended; and 
 have been properly prepared in accordance with the Companies Act 1985.
SAFFERY CHAMPNESS
Chartered Accountants and Registered Auditors
London  
22nd March 2006
Annual Report and Accounts 2005 17 Notes 2005 2004
£ £
Revenue 3 2,714,937 2,665,677
Administrative expenses 2,663,052 2,442,362
Profit from operations 4 51,885 223,315
Interest receivable 1,958 8,785
Interest payable 5 (1,902) (3,000)
Profit before tax 51,941 229,100
Tax 9 – 49,063
Profit for the year 10 51,941 278,163
Earnings per share
Basic 11 0.05p 0.28p
Diluted 11 0.05p 0.28p
All of the company’s activities were classed as continuing during 2005 (2004: same).
There are no recognised gains and losses other than those passing through the profit and loss account.
Consolidated Income Statement
For the year ended 31 December 2005
Annual Report and Accounts 2005 18
The notes on pages 23 to 34 form part of these financial statements. Share 
Share premium Retained
capital account earnings
£££
Balance at 1 January 2004 1,500,000 833,778 (1,526,561)
Profit for the period – – 278,163
Balance at 31 December 2004 1,500,000 833,778 (1,248,398)
Balance at 1 January 2005 1,500,000 833,778 (1,248,398)
Profit for the period – – 51,941
Issue of equity share capital 44,062 44,063 –
Balance at 31 December 2005 1,544,062 877,841 (1,196,457)
Consolidated Statement of changes 
in Shareholders’ Equity
31 December 2005
Annual Report and Accounts 2005 19
The notes on pages 23 to 34 form part of these financial statements. Consolidated Balance Sheet
31 December 2005
Annual Report and Accounts 2005 20
The notes on pages 23 to 34 form part of these financial statements.
2005 2004
Notes £ £
ASSETS
Non-current assets
Goodwill 12 265,661 265,661
Property, plant and equipment 13 128,029 159,581
393,690 425,242
Current assets
Work in progress 15 373,347 402,676
Trade and other receivables 16 691,263 648,965
Cash and cash equivalents 143,593 147,117
1,208,203 1,198,758
Total assets 1,601,893 1,624,000
EQUITY AND LIABILITIES
Equity
Share capital 20 1,544,062 1,500,000
Share premium account 21 877,841 833,778
Retained earnings 22 (1,196,457) (1,248,398)
Equity attributable to equity holders of the parent 1,225,446 1,085,380
Non-current liabilities
Obligations under finance leases 18 – 6,466
Bank loans 19 2,503 10,014
2,503 16,480
Current liabilities
Trade and other payables 17 359,961 506,283
Obligations under finance leases 18 6,472 8,346
Bank loans 19 7,511 7,511
373,944 522,140
Total equity and liabilities 1,601,893 1,624,000
These financial statements were approved by the Board of Directors on 22nd March 2006.
Dominic Boyce, Director 2005 2004
Notes £ £
ASSETS
Non-current assets
Goodwill 12 265,661 265,661
Property, plant and equipment 13 128,029 159,581
Investments 14 5 5
393,695 425,247
Current assets
Work in progress 15 373,347 402,676
Trade and other receivables 16 691,263 648,965
Cash and cash equivalents 143,593 147,117
1,208,203 1,198,758
Total assets 1,601,898 1,624,005
EQUITY AND LIABILITIES
Equity
Share capital 20 1,544,062 1,500,000
Share premium account 21 877,841 833,778
Retained earnings 22 (1,196,457) (1,248,398)
Equity attributable to equity holders of the parent 1,225,446 1,085,380
Non-current liabilities
Obligations under finance leases 18 – 6,466
Bank loans 19 2,503 10,014
2,503 16,480
Current liabilities
Trade and other payables 17 359,966 506,288
Obligations under finance leases 18 6,472 8,346
Bank loans 19 7,511 7,511
373,949 522,145
Total equity and liabilities 1,601,898 1,624,005
These financial statements were approved by the Board of Directors on 22nd March 2006.
Dominic Boyce, Director
Company Balance Sheet
31 December 2005
Annual Report and Accounts 2005 21
The notes on pages 23 to 34 form part of these financial statements. 2005 2004
Notes £ £
Net cash (used in)/from operating activities 25 (31,215) 173,458
Investing activities
Interest received 1,958 8,785
Purchase of goodwill 12 – (160,885)
Purchases of property, plant and equipment 13 (46,541) (69,545)
Net cash used in investing activities (44,583) (221,645)
Financing activities
Repayments of bank loan (7,511) (5,007)
Repayments of obligations under finance leases (8,340) (16,652)
Issue of equity share capital 88,125 –
New bank loan raised – 22,532
Net cash from financing activities 72,274 873
Net decrease in cash and cash equivalents (3,524) (47,314)
Cash and cash equivalents at beginning of year 147,117
Cash and cash equivalents at end of year 143,593 147,117
Consolidated Cash Flow Statement
For the year 31 December 2005
Annual Report and Accounts 2005 22
The notes on pages 23 to 34 form part of these financial statements.
194,431 1. General information
The group is incorporated in the United Kingdom under the Companies Act 1985. The address of the registered office is given
on page 1. The nature of the group’s operations and its principal activities are set out in note 3. 
2. Significant accounting policies
Basis of accounting
The financial statements have been prepared on a historical cost basis.
Statement of compliance 
The financial statements of The Claims people Group plc and all its subsidiaries have been prepared in accordance with
International Financial Reporting Standards (IFRS). 
Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except that the Group has adopted
those standards designed to form the ‘stable platform’ intended to be mandatory for financial years beginning on or after 
1 January 2005. The key changes to the accounting policies as a result of the adoption of IAS are:
 Goodwill
 Work in progress
 Deferred tax
 Share-based payments
The principal effects of these changes are discussed below in note 28. 
Basis of consolidation
The consolidated financial statements incorporate the results of the Company and all its subsidiary undertakings as if they were a
single entity. Subsidiary undertakings are consolidated from the date of acquisition using the acquisition method of accounting.
Revenue recognition
Revenue is recognised by reference to the stage of completion of the transaction, in accordance with IAS 18, and represents
the invoiced amount of services provided in the period and is stated net of VAT.
Property, plant and equipment
Property, plant and equipment are stated at cost less provision for depreciation. Depreciation is provided at rates calculated to
write off the cost of each asset less its estimated residual value evenly over its estimated useful life, as follows:
Claims software over five years
Office equipment and fittings over three to five years
Website development over three years
Goodwill
Goodwill on acquisition is initially measured at cost being the excess of the cost of the business combination over the
acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities. Following initial recognition,
goodwill is measured at cost less any accumulated impairment losses. Goodwill on acquisitions after 31 March 2004 is not
amortised and goodwill already carried in the balance sheet is not amortised after 1 January 2004. Goodwill relating to
acquisitions from 1 January 2004 is not amortised. Goodwill is reviewed for impairment, annually or more frequently if events
or changes in circumstances indicate that the carrying value may be impaired. 
As at the acquisition date, any goodwill acquired is allocated to each of the cash-generating units expected to benefit from
the combination’s synergies. Impairment is determined by assessing the recoverable amount of the cash-generating unit, to
which the goodwill relates. Where recoverable amount of the cash-generating unit is less than the carrying amount, an
impairment loss is recognised. Where goodwill forms part of a cash-generating unit and part of the operation within that unit
are disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation
when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured on the
basis of the relative values of the operation disposed of and the portion of the cash-generating unit retained. 
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Work in progress
Work in progress is valued at the lower of cost and net realisable value.
Leasing and finance lease commitments
Assets obtained under hire purchase contracts and finance leases are capitalised in the balance sheet and depreciated over
their useful economic lives. The interest element of the rental obligations is charged to the profit and loss account over the
Notes to the Financial Statements
For the year ended 31 December 2005
Annual Report and Accounts 2005 23 period of the contract and represents a constant proportion of the balance of capital payments outstanding. Rentals paid
under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date
where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future
have occurred at the balance sheet date. Timing differences are differences between the Group’s taxable profits and its
results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods
different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence,
it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in
which the timing differences are expected to reverse.
Pension costs
The Group contributes to two Group Personal Pension Schemes for Directors and senior employees. Pension contributions
are charged to the profit and loss account as they are incurred.
Share-based payment transactions 
Employees (including directors) of the Group receive remuneration in the form of share-based payment transactions, whereby
employees render services in exchange for shares or rights over shares (‘equity-settled transactions’) as detailed in note 28.
3. Revenue
The total revenue of the Group for the period has been derived from its principal activity wholly undertaken in the United Kingdom.
4. Profit from operations
2005 2004
£ £
Profit from operations is stated after charging:
Depreciation of property, plant and equipment:
– owned assets 66,315 60,930
– assets held under hire purchase contracts and finance leases 11,778 18,251
Auditors’ remuneration:
– Audit services
Statutory audit 11,750 11,750
Review of interim statement 3,900 2,500
– Taxation services
Compliance services 1,000 500
Payments under operating leases – land and buildings 60,974 56,116
– hire of other assets 99,567 101,118
5. Interest payable
2005 2004
£ £
On bank loan & overdraft 1,139 1,736
On finance leases 763 1,264
1,902 3,000
Notes to the Financial Statements continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 24 6. Employees
The average number of persons (including Directors) employed by the Group was:
2005 2004
Number Number
Management 9 7
Administration 8 9
Loss adjusters 34 30
51 46
2005 2004
£ £
Staff costs (for the above persons):
Wages and salaries 1,303,789 1,188,237
Social security costs 136,377 117,290
Other pension costs 24,243 21,431
1,464,409 1,326,958
7. Pension costs
The group contributes to two Group Personal Pension Schemes for Directors and certain employees. Contributions payable
to the pension schemes in the year were £24,243 (2004: £21,431). 
8. Directors’ remuneration
Year ended 31 December 2005
Contributions
to money Year ended
purchase Estimated 31
pension value of December
Salary schemes benefits Total 2004
££££ £
Executive Directors
Barry Whyte 75,000 7,500 13,321 95,821 78,790
Peter Morgan 22,750 2,275 4,735 29,760 44,355
Dominic Boyce 51,911 2,063 954 54,928 –
David Croston 65,000 6,500 12,125 83,625 74,648
214,661 18,338 31,135 264,134 197,793
Non Executive
John French 10,800 – – 10,800 10,800
Graham Cole 9,000 – – 9,000 9,000
Total 234,461 18,338 31,135 283,934 217,593
Details of options granted to directors under the Unapproved Share Option Scheme are given in the Directors’ Report on page 8.
The number of directors for whom retirement benefits are accruing under money purchase pension schemes amounted to 
4 (2004: 3).
Annual Report and Accounts 2005 25 9. Taxation
2005 2004
£ £
Domestic current year tax
UK corporation tax – –
Current tax charge – –
Reversal of timing difference – 84,495
Origination of timing difference – (133,558)
– (49,063)
Factors affecting the tax charge for the year
Profit on ordinary activities before taxation 51,941 229,100
Profit on ordinary activities multiplied by standard rate of corporation tax of 30% 15,582 68,730
Adjustment for the effects of:
Expenses not deductible for tax purposes 8,554 16,938
Depreciation and amortisation 23,428 23,754
Capital allowances (24,380) (27,852)
Tax losses brought forward utilised (23,184) (79,850)
Marginal relief – (1,720)
Current tax charge – –
At 31 December 2005 the Group had corporation tax losses and unclaimed capital allowances of £1,047,371 (2004:
£1,122,696) subject to agreement with the Inland Revenue.
At 31 December 2005 the deferred taxation asset comprised:
2005 2004
Group Company Group Company
Provided Provided Provided Provided
££ ££
Accelerated capital allowances (34,729) (34,729) (35,681) (35,681)
Short term timing differences (2,837) (2,837) (2,837) (2,837)
Tax losses (95,992) (95,992) (95,040) (95,040)
(133,558) (133,558) (133,558) (133,558)
Movement on deferred tax account for the year
£
Asset brought forward (133,558)
Reversal of timing differences –
Origination of timing difference –
Asset carried forward (133,558)
Notes to the Financial Statements continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 26 The nature of the evidence supporting the recognition of the deferred tax asset is the management’s financial projections for
the eighteen month period ending 30 June 2007.
The deferred tax asset would be increased by £180,653 if all corporation tax losses available were recognised.
10. Profit attributable to ordinary shareholders
The Company has taken advantage of the exemption under Section 230 of the Companies Act 1985 from presenting its own
profit and loss account. As the Company has no active subsidiaries, the profit dealt within the financial statements of the
Company is the same as the consolidated profit being £51,941 (2004: £278,163).
11. Earnings per share
The calculation of the basic and fully diluted earnings per share is based on the profit for the year after tax of £51,941 (2004:
£278,763) and on 102,848,973 ordinary shares, (2004: 100,000,000) being the weighted average number of ordinary shares
in issue during the year. In calculating fully diluted earnings per share, the weighted average number of shares in issue was
102,876,641 (2004: 100,037,736) ordinary shares. The issue of shares after the year end does not have a material effect on
the calculation of earnings per share.
12. Goodwill – Group and Company
2005 2004
£ £
Cost
At 1 January 2005 272,587 311,702
Adjustment for early settlement – (39,115)
At 31 December 2005 272,587 272,587
Accumulated impairment losses
At 1 January 2005 6,926 6,926
Impairment losses for the year – –
At 31 December 2005 6,926 6,926
Carrying amount
At 31 December 2005 265,661 265,661
Goodwill arises on the acquisition of the trade and assets of CCS Global UK on 5 September 2003 as detailed below.
£
Fixed assets 5,000
Work in progress 47,453
Goodwill 272,587
325,040
The directors have reviewed goodwill for impairment and, based on the profits and cash flows of the acquired business unit
calculated using the recurring attributable fee income from the acquired business and relevant apportioned costs, have
concluded that no impairment is required.
Annual Report and Accounts 2005 27 13. Property, plant and equipment – Group and Company
Equipment
Claims fixtures and
software fittings Website Total
££££
Cost
At 1 January 2005 193,600 195,276 89,294 478,170
Additions – 46,541 – 46,541
Disposals – (55,270) – (55,270)
At 31 December 2005 193,600 186,547 89,294 469,441
Depreciation
At 1 January 2005 100,640 128,656 89,293 318,589
Charge for the year 38,720 39,373 – 78,093
Disposals – (55,270) – (55,270)
At 31 December 2005 139,360 112,759 89,293 341,412
Net book value
At 31 December 2005 54,240 73,788 1 128,029
Cost
At 1 January 2004 151,600 225,182 89,294 466,076
Additions 42,000 27,545 – 69,545
Disposals – (57,451) – (57,451)
At 31 December 2004 193,600 195,276 89,294 478,170
Depreciation
At 1 January 2004 68,224 139,342 89,293 296,859
Charge for the year 32,416 46,765 – 79,181
Disposals – (57,451) – (57,451)
At 31 December 2004 100,640 128,656 89,293 318,589
Net book value
At 31 December 2004 92,960 66,620 1 159,581
Included in the above are assets held under finances leases or hire purchase contracts with a net book value of £7,658
(2004: £19,435).
Notes to the Financial Statements continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 28 14. Fixed asset investments – Company
Shares in
subsidiary
undertakings
£
Cost
At 31 December 2004 and 31 December 2005 5
At 31 December 2004 the Company held the whole of the issued share capital of the following subsidiary undertakings, all of
which are incorporated in Great Britain and were dormant during the year:
The Claims People Limited Whyte & Co Limited
Claim Analysts Limited Whyte & Croston Limited
Claims Club Limited
15. Work in progress
2005 2004
Group Company Group Company
££ ££
Work in progress 373,347 373,347 402,676 402,676
16. Trade and other receivables
2005 2004
Group Company Group Company
££ ££
Due within one year
Trade receivables 457,590 457,590 399,088 399,088
Prepayments 74,150 74,150 95,666 95,666
Other receivables 25,965 25,965 4,250 4,250
557,705 557,705 499,004 499,004
Deferred tax asset (note 9) 133,558 133,558 133,558 133,558
691,263 691,263 632,562 632,562
Due after one year
Other debtors –– 16,403 16,403
691,263 691,263 648,965 648,965
Trade receivables are non-interest bearing and are generally on 30-day terms.
Other receivables are non-interest bearing and have an average term of one month.
Annual Report and Accounts 2005 29 17. Trade and other payables
2005 2004
Group Company Group Company
££ ££
Receipts in advance –– 61,089 61,089
Trade payables 131,399 131,399 168,468 168,468
Amounts due to subsidiary undertakings –5 –5
Other payables 3,467 3,467 143,781 143,781
Other taxes and social security 113,090 113,090 40,455 40,455
Accruals 112,005 112,005 92,490 92,490
359,961 359,966 506,283 506,288
Trade payables are non-interest bearing and are normally settled on 30-day terms. 
Other payables are non-interest bearing and have an average term of one month.
Other taxes and social security is remitted to the appropriate tax body on a monthly or quarterly basis as relevant. 
18. Obligations under finance leases
Amounts payable under finance leases:
2005 2004
Group Company Group Company
££ ££
Within one year 6,472 6,472 8,346 8,346
Between one and two years –– 6,466 6,466
6,472 6,472 14,812 14,812
19. Bank loans
The Group’s bank loan is unsecured and bears interest at 8.2% pa. The loan is repayable in equal monthly instalments and
falls due as follows:
2005 2004
Group Company Group Company
££ ££
Within one year 7,511 7,511 7,511 7,511
Between one and two years 2,503 2,503 7,511 7,511
Between two and five years –– 2,503 2,503
10,014 10,014 17,525 17,525
Notes to the Financial Statements continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 30 20. Share Capital – Group and Company
2005 2004
£ £
Authorised:
200,000,000 (2004: 200,000,000) Ordinary Shares of 1.5p each 3,000,000 3,000,000
2005 2004
£ £
Allotted, called up and fully paid:
102,937,500 (2004: 100,000,000) Ordinary Shares of 1.5p each 1,544,062 1,500,000
Share Options
At 31 December 2005 the following share options relating to the ordinary shares of 1.5p each were outstanding:
Option
Number of price per Option
Shares share period
Enterprise Management Incentive Scheme
Granted 24 October 2000 3,750,000 8p 24.10.03 – 24.10.10
Granted 4 May 2004 500,000 3.625p 4.5.07 – 24.10.10
Unapproved scheme
Granted 24 October 2000 12,800,000 8p 24.10.03 – 24.10.10
The option granted under the unapproved scheme is in respect of an option over 16% of the total issued share capital at 
the date of exercise less 3,750,000 shares. The above represents an estimate of the number of share options under the
Unapproved Scheme that would exist at 31 December 2005.
The weighted average exercise price of the EMI options is 7.485p.
21. Share premium account – Group and Company
2005
£
At 1 January 2005 833,778
Issue of ordinary share capital 44,063
At 31 December 2005 877,841
Annual Report and Accounts 2005 31 22. Retained earnings – Group and Company
Profit and
loss
account
£
At 1 January 2005 (1,248,398)
Profit for the year 51,941
At 31 December 2005 (1,196,457)
23. Financial commitments
The Company has given a fixed and floating charge over all assets to its bankers in return for an overdraft facility of £300,000.
The facility will be reviewed in April 2006. The facility had not been called upon in the year.
24. Other financial commitments
At 31 December 2005 the Company and Group was committed to making the following payments under non-cancellable
operating leases in the year ending 31 December 2006.
Land and Land and
buildings Other buildings Other
2005 2005 2004 2004
££ ££
Operating leases which expire:
Within one year 46,340 46,585 43,570 52,931
Within two to five years 11,667 31,163 – 47,104
25. Notes to the cash flow statement
2005 2004
£ £
Profit from operations 51,885 223,315
Adjustments for:
Depreciation of property, plant and equipment 78,093 79,181
Operating cash flows before movements in working capital 129,978 302,496
Decrease/(increase) in work-in-progress 29,329 (155,160)
Increase in receivables (42,298) (84,398)
(Decrease)/increase in payables (146,322) 113,520
Cash generated by operations (29,313) 176,458
Interest paid (1,902) (3,000)
Net cash (used in)/ from operating activities (31,215) 173,458
Notes to the Financial Statements continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 32 26. Financial risk management objectives and policies 
The Group’s principal financial instruments comprise bank loans,  finance leases and hire purchase contracts, cash and short-
term deposits. The main purpose of these financial instruments is to raise finance for the Group’s operations. The Group has
various other financial instruments such as trade debtors and trade creditors, which arise directly from its operations. It is, and
has been throughout the year under review, the Group’s policy that no trading in financial instruments shall be undertaken.
The main risks arising from the Group’s financial instruments are interest rate risk, liquidity risk and credit risk. The board
reviews and agrees policies for managing each of these risks and they are summarised below.  
Interest rate risk 
The Group’s exposure to interest rate risk is minimal.
Liquidity risk 
The Group’s objective is to maintain a balance between continuity of funding and flexibility through the use of bank overdrafts
and bank loans. The Group does not have a policy on the level or maturity profile of borrowings due to the insignificant level
of borrowings.
Credit risk
The Group trades only with recognised, creditworthy third parties. In addition, receivable balances are monitored on an
ongoing basis with the result that the Group’s exposure to bad debts is not significant. With respect to credit risk arising from
the other financial assets of the Group, which comprise cash and cash equivalents,  the Group’s exposure to credit risk arises
from default of the counter party, with a maximum exposure equal to the carrying amount of these instruments. There are no
significant concentrations of credit risk within the Group. 
27. Financial instruments
Fair values 
Set out below is a comparison by category of carrying amounts and fair values of all of the Group’s financial instruments that
are carried in the financial statements at other than fair values. 
There is no difference between the carrying amounts and fair values of any of the groups financial statements.
Within 1 year 1 – 2  years 2 – 5  years Total
££££
Year ended 31 December 2005
Fixed rate:
Obligations under finance leases 6,472 – – 6,472
Bank loans 7,511 2,503 – 10,014
Floating rate:
Cash and cash equivalents 143,593 – – 143,593
Year ended 31 December 2004
Fixed rate:
Obligations under finance leases 8,346 6,466 – 14,812
Bank loans 7,511 7,511 2,503 17,525
Floating rate:
Cash and cash equivalents 147,117 – – 147,117
Annual Report and Accounts 2005 33 28. Reconciliation from UK GAAP to IFRS
a) Goodwill
Goodwill arose on the acquisition of the trade and assets of CCS Global UK. Under UK GAAP goodwill would be subject to
amortisation however none was charged for the year ended 31 December 2004. This was on the basis that the amounts
were deemed immaterial to the financial statements both for the year and on an accumulated basis. 
The Group has taken advantage of the exemption under IFRS 1 not to restate previous business combinations and has
brought forward the balance of goodwill at amortised cost and reviewed it for impairment both at 31 December 2004 and 31
December 2005. No impairment of goodwill has been identified.
Had the accounts been prepared under UK GAAP a goodwill amortisation charge for the year ended 31 December 2005 of
£18,172 would have been charged to the profit and loss account, which would have reduced the profit for the year ended 31
December 2005 to £33,769.
b) Work in Progress
Work in progress is recognised only to the extent of costs incurred that are expected to be recoverable. This is not deemed to
be significantly different to the previous UK GAAP valuation of work in progress which was based on the lower of cost and net
realisable value. As a result the financial information shown above has no significant differences to UK GAAP financial
information.
c) Deferred Tax
There are not considered to be any significant differences between the treatment of deferred tax amounts in the financial
information above under IAS compared to UK GAAP . As a result the financial information shown above has no significant
differences to UK GAAP financial information.
d) Share based payments
The Group has taken advantage of the exemption under IFRS 1 not to apply IFRS 2 Share based payments to share options
granted on or before 7 November 2002. Share options granted subsequent to this date, as detailed in Note 20 to the
accounts, have not been adjusted to fair value due to the current market value of the shares being significantly lower than the
exercise price and the minimal impact of any fair value adjustment on the results for the year.
29. Post balance sheet events
There were no post balance sheet events.
Notes to the Financial Statements continued
For the year ended 31 December 2005
Annual Report and Accounts 2005 34 Notice is hereby given that the 2005 Annual General Meeting of The Claims People Group plc will be held at 9am on 30 May
2006 at Lion House, Red Lion Street, London WC1R 4GB for the following purposes:
Ordinary Business
1. To receive and adopt the Reports of the Directors and of the Auditors and the Statement of Accounts for the year ended
31 December 2005.
2. To re-appoint Saffery Champness as Auditors to hold office until the conclusion of the next general meeting at which
accounts are laid before the Company.
3. To authorise the Directors to determine and fix the remuneration of the Auditors.
4. To re-elect Barry Whyte as a Director, who retires by rotation, pursuant to Article 115 of the Company’s Articles of
Association.
Special Business
To consider and, if thought fit, to pass Resolutions 5, 6 and 7 as to which Resolution 5 will be proposed and voted on as an
Ordinary Resolution and Resolutions 6 and 7 will be proposed and voted on as Special Resolutions:
5. That the Directors of the Company be and they are hereby generally and unconditionally authorised pursuant to the
provisions of Section 80 of the Companies Act 1985 (“the Act”) to exercise all the powers of the Company to allot
relevant securities as defined by such Section provided that:
5.1 the maximum nominal amount of such securities that may be allotted under this authority (within the meaning of that
Section) is £500,000; and
5.2 this authority shall, unless it is (prior to its expiry) duly revoked or is renewed, expire at the conclusion of the Annual
General Meeting of the Company to be held in 2007 or 15 months from the date of passing this Resolution
(whichever shall occur first) save that the Company may, before such expiry, make an offer or agreement which
would or might require relevant securities to be allotted after such expiry, and the Directors of the Company may
allot relevant securities (within the meaning of that section) in pursuance of such offer or agreement as if the
authority conferred hereby had not yet expired;
and provided also that the authority granted by this Resolution shall be in substitution for any authority to allot relevant
securities (within the meaning of that section) previously granted to the Directors which (to the extent that it remains in
force and unexercised) is hereby revoked.
6. That, subject and conditional upon the passing of Resolution 5 above, the Directors of the Company be and they are
hereby empowered pursuant to Section 95 of the Act to allot equity securities (within the meaning of Section 94 of the
Act) for cash pursuant to Section 80 of the Act as if Section 89(1) of the Act did not apply to any such allotment,
provided that this power shall be limited to the allotment of equity securities:
6.1 in connection with a rights issue in favour of or general offer to Ordinary Shareholders where the equity securities
respectively attributable to the interest of all the Ordinary Shareholders are proportionate (as nearly as practicable) to
the number of Ordinary Shares held by them respectively (but subject to such exclusion and other arrangements as
the Directors of the Company may deem necessary or expedient to deal with fractional entitlements or any legal or
practical difficulties or the regulations or requirements of any regulatory body or stock exchange in any territory); and
6.2 otherwise than pursuant to paragraph 6.1 above, up to an aggregate nominal value of £500,000;
and such power shall expire at the conclusion of the Annual General Meeting of the Company to be held in 2007 or 15
months from the date of passing this Resolution (whichever shall occur first) save that the Company may, before such
expiry, make an offer or agreement which would or might require equity securities to be allotted after such expiry, and
the Directors of the Company may allot equity securities in pursuance of such offer or agreement as if the power
conferred hereby had not expired and provided also that the authority and power hereby conferred shall be in
substitution for any previous authority and power conferred upon the Directors of the Company pursuant to Section 95
of the Act prior to the date of passing this Resolution.
7. That the Company be and is hereby generally and unconditionally authorised for the purposes of Section 166 of the Act
to make one or more market purchases (within the meaning of Section 163(3) of the Act) on the Alternative Investment
Market of the London Stock Exchange of Ordinary Shares of 1.5p each in the capital of the Company provided that:
7.1 the maximum aggregate number of such shares hereby authorised to be purchased is 10,293,750 (representing
10% of the Company’s issued ordinary share capital);
7.2 the minimum price which may be paid for such shares is 1.5p per share (exclusive of tax and expenses);
Notice of Annual General Meeting
Annual Report and Accounts 2005 35 7.3 the maximum price (exclusive of tax and expenses) which may be paid for such a share shall not be more than 
5% above the average of the market values for such a share as derived from the Alternative Investment Market
Appendix to the Daily Official List of the London Stock Exchange for the five business days immediately preceding
the date on which such share is purchased;
7.4 unless previously renewed, varied or revoked, the authority hereby conferred shall expire at the conclusion of the
Annual General Meeting of the Company to be held in 2007 or 15 months from the date of passing this Resolution,
if earlier; and
7.5 the Company may make a contract or contracts to purchase such shares under the authority hereby conferred, prior
to the expiry of such authority, which would or might be executed wholly or partly after the expiry of such authority,
and the Company may make a purchase of such shares in pursuance of any such contract or contracts as if the
authority granted by this Resolution had not expired.
By Order of the Board
PETER MORGAN
Company Secretary
49 Southwark Street
London
SE1 1RU
24 April 2006
Notes:
1. To be entitled to attend and vote at the Annual General Meeting (and for the purposes of the determination by the Company of the
number of votes they may cast) members must be entered on the Company’s register of members not later than 48 hours before the
time of the meeting. If the Annual General Meeting is adjourned to a time not more than 48 hours after the specified time applicable to
the original meeting, that time will also apply for the purpose of discerning the entitlement to members to attend and vote (and for the
purposes of determining the number of votes they may cast) at the adjourned Annual General Meeting. If, however, the Annual General
Meeting is adjourned for a longer period, then, to be so entitled, members must be entered on the Company’s register of members at
the time which is 48 hours before the time fixed for the adjourned meeting or, if the Company gives notice of the adjourned Annual
General Meeting, at the time specified in that notice
2. A member entitled to vote at the Annual General Meeting is entitled to appoint one or more proxies to attend and, on a poll, to vote
instead of the member. A proxy need not be a member of the Company.
3. A form of proxy for the use of members is enclosed with the notice. To be effective the form of proxy must be deposited, duly
completed and signed, at the Company’s registrar no less than 48 hours before the time appointed for the holding of the Annual
General Meeting.
There will be available for inspection at the registered office of the Company during the normal business hours from the date of
this notice until the date of Annual General Meeting, and at the place of the Annual General Meeting for 15 minutes prior to the
Annual General Meeting and until the conclusion of the Annual General Meeting, the register of Directors’ interests in accordance
with Section 325 of the Act and copies of the Directors’ service contracts in accordance with Section 318 of the Act.
Notice of Annual General Meeting continued
Annual Report and Accounts 2005 36 The Claims People Group Plc
49 Southwark Street
London SE1 1RU
Telephone 020 7357 6636
www.theclaimspeople.com