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The total non-controlling interest for the year is €13.8 million. Since non-controlling interest is considered not material for TMF Group no further summarised financial information is disclosed. Read more about 14. Non-controlling interest .

Alongside TMF Group's strategies for organic growth, it is TMF Group's intention, where appropriate, to continue to make acquisitions that provide additional scale to the business, enhance a specific service offering, assist in consolidating Read more about 15. Business combinations .

Goodwill arises on the acquisition of subsidiaries and represents the excess of the consideration transferred, the amount of non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree Read more about 16. Intangible assets .

We measure property, plant and equipment at cost less accumulated depreciation and impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. Read more about 17. Property, plant and equipment .

At inception of a contract, TMF Group assesses whether a contract is, or contains, a lease. Read more about 18. Right-of-use of assets and lease liability .

TMF Group classifies its financial assets in the following categories: financial assets at amortised cost (loans and receivables) and fair value through income statement (equity instruments). Read more about 19. Financial assets and derivative financial liabilities .

The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. We have consistently applied these policies during the period, unless stated otherwise. Read more about 2. Summary of material accounting policies .

The contract assets relate to costs incurred to obtain and/or fulfil a contract. As at 31 December 2023, the non-current assets amount to €9.2 million and the current contract assets amounts to €7.9 million. Read more about 20. Contract assets .

Trade receivables are initially recognised at fair value, and subsequently measured at amortised cost (if the time value is material), using the effective interest method, less allowance for expected credit losses. Read more about 21. Trade receivables and unbilled services .

The maximum exposure of credit risk at the reporting date is the carrying value of the other receivables. TMF Group does not hold any collateral as security. TMF Group has no significant concentrations of credit risk. Read more about 22. Other receivables .