Jefferies Financial : 2024 Country by Country Reporting

Published: 2025-06-05 10:32:09 ET JEF

Published on 06/05/2025 at 10:32

Jefferies International Limited

Country by Country reporting

The Capital Requirements Directive IV (Article 89 of the EU Directive 2013/36/EU) requires qualifying institutions to publish annually certain tax and financial data for each country in which they operate. Jefferies International Limited (the "Company") is a qualifying institution under the terms of the Capital Requirements Directive IV (the "Directive").

In accordance with the Directive, the Company has elected to provide the required information on a consolidated basis for the financial year ended 30 November 2024 (Refer to tables 1 and 2, on pages 6 and 7 respectively). The Company has applied the s401 Companies Act 2006 exemption from preparing consolidated financial statements as the Company and all its subsidiaries are included within the audited consolidated financial statements of Jefferies Financial Group Inc. for the year ended 30 November 2024 which can be obtained from https://www.jefferies.com within the Investor Relations section.A copy of the Company's audited statutory financial statements for the year ended 30 November 2024 can be obtained from https://www.jefferies.com within the Investor Relations section.

Note (1) - Basis of preparation and explanatory notes.

Accounting framework: The figures disclosed in the schedules are prepared under United Kingdom Generally Accepted Accounting Practice (UK GAAP), in alignment with the statutory financial statements of the Company and its subsidiaries.

Jurisdiction: The jurisdiction in each case has been taken as the country of tax residence.

Number of employees: The number of employees has been calculated as the average number of employees, on a monthly full-time basis, who were permanently employed by the Company and its subsidiaries during the financial year to 30 November 2024.

Revenue: As defined in note 2 to the statutory financial statements for the Company for the financial year ended 30 November 2024.

Profit before tax: As per the consolidated Profit and Loss Account for the Company and its subsidiaries for the year ended 30 November 2024.

Corporation tax paid: This represents the corporation tax paid in each country in the year ended 30 November 2024.

Note (2) - Commentary on disclosure.

It should be noted that the corporation tax paid in a given year does not always relate directly to the tax charge in that period as corporation tax is often paid across multiple periods and taxable profits are calculated in accordance with prescribed legislation in each jurisdiction which may differ from the reported accounting results. The below commentary is in relation to the corporate tax payments within each jurisdiction listed in disclosure tables 1 and 2.

submitted corporation tax return which has resulted in a lower level of tax paid than otherwise be expected in comparison to profits.

We have been engaged by the Directors of Jefferies International Limited ("the Company") to conduct a reasonable assurance engagement relating to the Country-by-Country Reporting ("CBCR") disclosures set out in the accompanying schedules for the year ended 30 November 2024.

In our opinion, the Country-by-Country Reporting disclosures for the year ended 30 November 2024 have been prepared, in all material respects, in accordance with the Capital Requirements (Country-by-Country Reporting) Regulations 2013 (the "Regulations").

The Directors are responsible for preparing the CBCR disclosures in accordance with the Regulations. Our responsibility is to express a conclusion on the CBCR disclosures based on our procedures.

We conducted our engagement in accordance with the International Standard on Assurance Engagements ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information, issued by the International Auditing and Assurance Standards Board (IAASB), to state whether the CBCR disclosures have been prepared, in all material respects, in accordance with the Regulations.

We obtained reasonable assurance as defined in ISAE 3000 (Revised). Reasonable assurance is not absolute assurance because of factors such as the following: the use of selective testing, the inherent limitations of internal control, the fact that much of the evidence available to us is persuasive rather than conclusive and the use of judgement in gathering and evaluating evidence and forming conclusions based on that evidence.

Our procedures consisted primarily of:

obtaining an understanding of the Company and its subsidiaries (the "Group"), including the design and implementation of internal control relevant to collection of the information used to prepare the CBCR disclosures. This included discussions with Group management responsible for the CBCR disclosures;

considering the risk of material misstatement of the CBCR disclosures.

testing underlying data on a sample basis.

In conducting our engagement, we complied with the independence requirements of the FRC's Ethical Standard and the ICAEW Code of Ethics. The ICAEW Code is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.

We applied the International Standard on Quality Management 1 ("ISQM 1") issued by the Financial Reporting Council, for UK engagements. Accordingly, we maintained a comprehensive system of quality management including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

This report is made solely to the Directors of Jefferies International Limited in accordance with ISAE 3000 (Revised) and our agreed terms of engagement. Our work has been undertaken so that we might state to the Directors of Jefferies International Limited those matters we have agreed to state to them in this report and for no other purpose.

Without assuming or accepting any responsibility in respect of this report to any party other than Jefferies International Limited and the Directors of Jefferies International Limited, we acknowledge that the Directors of Jefferies International Limited may choose to make this report publicly available for others wishing to have access to it, which does not and will not affect or extend for any purpose or on any basis our responsibilities. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jefferies International Limited and the Directors of Jefferies International Limited as a body, for our work, for this report, or for the conclusions we have formed.

Tom Millar FCA (Senior statutory auditor) For and on behalf of Deloitte LLP Statutory Auditor

London, United Kingdom 4 June 2025

Disclaimer

Jefferies Financial Group Inc. published this content on June 05, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 05, 2025 at 14:31 UTC.