5. ADMINISTRATIVE EXPENDITURE
Establishment expenses Staff costs (Note 6) Finance costs
Administrative overheads
2020 £
268,769
4,639,430 94,206
1,315,100 6,317,505
6. STAFF COSTS Salaries Social Security Costs Pension and Life Assurance Costs Less staff costs included in Direct Expenditure
The average monthly number of employees during the year was: Senior Management
Executive Officers and Coaches Administration and Support
2019 £
273,703
4,357,701 99,269
1,352,857 6,083,530
2020 £
5,324,467 531,494 702,022
6,557,983 (1,918,553) 4,639,430
29 63 73
165
2019 £
5,115,121 501,870 680,168
6,297,159 (1,939,458) 4,357,701
30 59 70
159
The compensation paid or payable to key management personnel, being the two executive directors, for employee services is £294,125 (2019: £292,690).
Remuneration paid to the two executive directors during the year amounted to £279,825 (2019: two executive directors; £278,690). The remuneration of the highest paid director was £189,865 (2019: £183,866). The number of directors to whom retirement benefits are accruing under defined contribution pension schemes was 1 (2019: 1). The total contribution in respect of these directors was £14,300 (2019: £14,000). No remuneration was paid to non-executive directors.
7. OPERATING SURPLUS
Surplus on ordinary activities is stated after charging: Depreciation
Foreign exchange (gains)/losses Operating lease rentals
Auditor’s remuneration: Audit fees – current year
Non audit fees: Corporation tax compliance Non audit fees: Other services
2020 £
389,403 (34,345) 125,830
31,500 4,100 2,798
The RYA Foundation, a charitable subsidiary, has incurred audit fees of £5,000 (2019: £4,800) payable to the auditors of the RYA. The RYA Retirement Benefit Scheme has incurred audit fees of £5,830 (2019: £5,300) payable to the auditors of the RYA.
20 ANNUAL REPORT AND ACCOUNTS 2020
2019 £
331,119 6,108
150,389
28,600 4,000 7,428
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