Notes to the financial statements
2 Operating costs – continuing operations
|
Year ended 31 March 2014 |
Year ended 31 March 2013 – Restated |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Before exceptional items £m |
Exceptional items £m |
Total £m |
Before exceptional items £m |
Exceptional items £m |
Total £m |
|||||||
|
Cost of sales |
1,040.4 |
5.8 |
1,046.2 |
1,008.2 |
44.3 |
1,052.5 |
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|
Distribution costs |
207.8 |
– |
207.8 |
229.1 |
– |
229.1 |
||||||
|
Administrative expenses |
86.5 |
4.4 |
90.9 |
84.0 |
3.5 |
87.5 |
||||||
|
1,334.7 |
10.2 |
1,344.9 |
1,321.3 |
47.8 |
1,369.1 |
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|
Profit on operations from continuing operations is stated after (charging)/crediting |
Year ended 31 March 2014 £m |
Year ended 31 March 2013 £m |
||
|---|---|---|---|---|
|
Release of grants |
1.7 |
0.9 |
||
|
Depreciation |
(28.6) |
(28.2) |
||
|
Amortisation of intangibles – acquired |
(0.4) |
(0.4) |
||
|
Amortisation of intangibles – internally generated |
(3.3) |
(3.4) |
||
|
Operating lease rentals |
(27.0) |
(29.2) |
||
|
Research and development expenditure |
(3.8) |
(3.3) |
||
|
Cost of inventories recognised as an expense |
(1,040.4) |
(1,008.2) |
||
|
Including: Write-down of inventories recognised as an expense |
(0.6) |
(1.2) |
|
Remuneration paid to auditors |
Year ended 31 March 2014 £m |
Year ended 31 March 2013 £m |
||
|---|---|---|---|---|
|
Fees payable to the Company’s auditors – audit of Company’s annual accounts* |
0.1 |
0.1 |
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|
Fees payable to the Company’s auditors and its associates for other services: |
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|
audit of the Company’s subsidiaries pursuant to legislation |
0.3 |
0.3 |
||
|
taxation services |
0.1 |
0.1 |
||
|
corporate finance services |
– |
0.2 |
||
|
0.5 |
0.7 |
* £10,000 (2013: £10,000) of this relates to the Company.
Corporate finance services in the year ended 31 March 2013 comprised reporting accountant work in relation to the disposal of St Hubert.
Fees paid to Ernst & Young LLP and its associates for non-audit services to the Company itself are not disclosed in the individual accounts of the Company because Group financial statements are prepared which are required to disclose such fees on a consolidated basis.
Ernst & Young LLP are auditors of the Dairy Crest Group Pension Fund. Fees paid by the Fund for audit services are not included in the above table.