NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2008
6 (a) Result Before Taxation 2008 2007
£'000 £'000
Result before taxation has been arrived at after charging the following:
Depreciation (note 8) 1,234 184
Profit on disposal of fixed assets (24) -
Operating lease rentals - land and buildings 965 965
- office equipment 60 -
- motor vehicles 32 -
Fees payable to the company's auditors and its associates
– for the audit of the company's annual accounts 52 68
– for the audit of accounts of associates pursuant to legislation 79 70
– for tax services 42 106
– for other services pursuant to legislation 5 26
– for services related to litigation 9 18
– for other services 2 -
For purposes of comparability the 2007 figures above for fees payable to the company's auditors have been adjusted
to include MDU Services as if it was a wholly owned subsidiary.
(b) Directors' Remuneration 2008 2007
£'000 £'000
Fees 377 329
Directors' emoluments 854 838
Amounts due and receivable under long term incentive plans 231 273
1,462 1,440
The highest paid director in The Medical Defence Union Ltd earned:
£'000 £'000
Emoluments (including short term incentive plans (STIP)) and
benefits under the long term incentive plan (LTIP). 463 480
Accrued annual pension (excluding indexation) 130 121
Retirement benefits are accruing to three directors (2007: three) under a defined benefit scheme.
The fees disclosed above represent the remuneration of the non-executive directors of The Medical Defence Union
Ltd. In addition six (2007: seven) of the non-executive directors received fees totalling £56,000 (2007: £57,000) for
acting as expert witnesses on behalf of members.
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