John Lewis Partnership plc Annual Report and Accounts 2014


93


7 Profit before tax Detailed below are the key items, as required by IFRS, charged/credited to arrive at our profit before tax.


2014 £m


Staff costs (note 9) Depreciation – owned assets


Depreciation – assets held under finance leases Amortisation of intangible assets Loss on sale of property


Profit/(loss) on disposal of other plant and equipment and intangible assets Inventory – cost of inventory recognised as an expense Reorganisation costs


Operating lease rentals: – land and buildings – plant and machinery


Sub lease income: – land and buildings


(1,753.9) (251.9) (2.7)


(54.5) (1.8) 0.2


(6,008.9) (14.7)


(139.6) (0.3)


7.7 Contingency rents expensed during the year were £2.7m (2013: £2.7m). Contingency rents are determined based on store revenues.


Total auditors’ remuneration is included within administrative expenses, and is payable to our auditors, PricewaterhouseCoopers LLP, as analysed below:


2014 £m


Audit and audit-related services: – Audit of the parent company and consolidated financial statements – Audit of the Company’s subsidiaries


Non-audit services: – Tax advisory services – Other assurance services – Other non-audit services


Total fees


(0.3) (0.5) (0.8)


–


(0.2) –


(0.2) (1.0)


In addition to the above, the Partnership’s auditors also acted as auditors to the Partnership’s pension schemes. The aggregate fee for audit services to the pension schemes during the year was £49,500 (2013: £53,900).


2013 £m


(0.4) (0.4) (0.8)


(0.1) –


(0.1) (0.2) (1.0)


2013


(restated) £m


(1,604.0) (251.7) (3.4)


(41.9) –


(6.1)


(5,640.1) (16.2)


(127.9) (0.2)


6.1


THE JOHN LEWIS PARTNERSHIP


OUR PERFORMANCE


GOVERNANCE


FINANCIAL STATEMENTS


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