Notes 3, 4, 5, 6 and 7
3. Employees
Aggregate remuneration of all employees during the year
| |
2005
£m |
2004
£m |
| Wages and salaries |
1.5 |
1.3 |
| Employers’ social security costs |
0.2 |
0.1 |
| Employers’ pension costs |
0.2 |
0.2 |
| |
1.9 |
1.6 |
Average number of employees during the year
4. Directors’ Remuneration
The emoluments, share options, awards under incentive schemes and pension entitlements of the directors are disclosed in the Remuneration Report.
5. Dividends
The aggregate amount of dividends comprises:
| |
2005
£m |
2004
£m |
| Final dividends paid in respect of prior year but not recognised as liabilities in that year |
3.6 |
6.8 |
| Interim dividends paid in respect of the current year |
2.5 |
2.5 |
| Aggregate amount of dividends paid in the financial year |
6.1 |
9.3 |
A final 2005 dividend of 9.4 pence per share, which will absorb £3.9 million (2004: 8.9 pence absorbing £3.6 million) has been recommended by the Board.
The 2004 comparatives reflect the new accounting rules under FRS 21 whereby dividends are only recognised when a legal liability exists.
6. Pensions
The Company is a member of a larger UK group wide pension scheme providing benefits based both on final pensionable pay and on contributions. Because the Company is unable to identify its share of the scheme assets and liabilities on a consistent and reasonable basis, as permitted by FRS17 Retirement Benefits, the scheme has been accounted for in these financial statements as if the scheme was a defined contribution scheme. At 31 December 2005, under UK GAAP, the UK scheme had a defined benefit liability of £2.9 million, which is £3.1 million under IFRS.
The contributions paid by the Company in the year amounted to £0.2 million (2004: £0.2 million). The expected Company contributions in 2006 are £0.2 million.
Further details of the UK pension scheme are disclosed here.
7. Tangible Fixed Assets
| |
Total
£m |
Land and
buildings
£m |
Motor
vehicles
£m |
Equipment
fixtures and
fittings
£m |
| Cost or valuation |
|
|
|
|
| At 1 January 2005 and at 31 December 2005 |
3.4 |
3.0 |
0.1 |
0.3 |
| Depreciation |
|
|
|
|
| At 1 January 2005 |
1.5 |
1.2 |
- |
0.3 |
| Charge for the year |
0.1 |
0.1 |
- |
- |
| At 31 December 2005 |
1.6 |
1.3 |
- |
0.3 |
| Net book value |
|
|
|
|
| At 31 December 2005 |
1.8 |
1.7 |
0.1 |
- |
| At 1 January 2005 |
1.9 |
1.8 |
0.1 |
- |
| |
2005
£m |
2004
£m |
| Net book value of land and buildings at cost or valuation comprise the following |
|
|
| Carried at cost |
- |
0.1 |
| Carried at valuation (open market basis - 31 March 1989) |
1.7 |
1.7 |
| |
1.7 |
1.8 |
| Freehold |
1.7 |
1.7 |
| Short Leasehold |
- |
0.1 |
| |
1.7 |
1.8 |
The land and buildings shown above at a revalued net book value of £1.7 million would have been stated under historical cost at £0.7 million and a net book value of £0.2 million.
The revalued amount of the land and buildings has been retained as allowed for by the transitional provisions set out in FRS 15 Tangible Fixed Assets.
The Company had the following annual commitments under operating leases:
| |
Land and buildings |
| |
2005
£m |
2004
£m |
| Expiring two to five years |
0.1 |
- |
| Expiring after five years |
- |
0.1 |
Information correct at 04/05/2006