5. ADMINISTRATIVE EXPENDITURE


Establishment expenses Staff costs (Note 6) Finance costs


Administrative overheads


2022 £


262,666


4,534,540 113,368


1,458,991 6,369,565


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


2021 £


468,045


4,477,443 104,093 854,912


5,904,493


2022 £


5,246,935 514,875 703,663


6,465,473 (1,930,933) 4,534,540


27 62 71


160


2021 £


5,206,109 509,501 715,038


6,430,648 (1,953,205) 4,477,443


29 66 74


169


The compensation paid or payable to key management personnel, being the three (2021: two) Executive Directors, for employee services is £367,522 (2021: £281,815).


Remuneration paid to the three Executive Directors during the year amounted to £344,080 (2021: two Executive Directors: £267,515) which includes compensation to Directors in respect of loss of office of £80,000. The remuneration of the highest paid director was £193,333 (2021: £180,272) which includes compensation for loss of office of £80,000. The number of Directors to whom retirement benefits are accruing under defined contribution pension schemes was 2 (2021: 1). The total contribution in respect of these Directors was £21,663 (2021: £14,300) No remuneration was paid to Non-executive Directors or Chair.


7. OPERATING SURPLUS/DEFICIT


Surplus/(deficit) on ordinary activities is stated after charging: Depreciation


Foreign exchange gains Operating lease rentals


Auditor’s remuneration: Audit fees – current year


Non audit fees: Corporation tax compliance Non audit fees: Other services


2022 £


471,749 (3,735)


165,366


35,000 4,515 -


The RYA Foundation, a charitable subsidiary, has incurred audit fees of £5,450 (2021: £5,200) payable to the auditors of the RYA. The RYA Retirement Benefit Scheme has incurred audit fees of £nil (2021: £6,000) payable by the RYA to the auditors of the RYA.


24 RYA ANNUAL REPORT AND ACCOUNTS 2022


2021 £


442,927 (27,353) 131,390


33,000 4,200 6,000


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