Strategic Review


62 Finsbury Food Group Annual Report & Accounts 2019


Notes to the Consolidated Financial Statements


Corporate Governance


Financial Statements


4. Administrative Expenses and Auditors’ Remuneration Included in profit are the following:


2019 £000


Amortisation of intangibles Depreciation of owned tangible assets


Depreciation on assets under finance leases and hire purchase contracts Impairment of assets and goodwill Loss on foreign exchange


Hire of plant and machinery – operating leases Hire of other assets – operating leases


Movement on fair value of foreign exchange contracts Research and development Share option charges Government grants


Auditors’ remuneration:


2019 £000


Audit of these Financial Statements


Amounts receivable by the auditors and its associates in respect of: Audit of the Financial Statements of subsidiaries of the Company Taxation compliance services Other tax advisory Other services


60


133 - - -


2018 £000


60


120 24 10


173


The auditors’ remuneration for the current year is in respect of PricewaterhouseCoopers LLP and is in respect of KPMG LLP in the prior year with fees for other services relates to pension advisory services and services relating to information technology.


5. Significant Non-recurring Items


The Group presents certain items as significant and non-recurring. These relate to items which, in management’s judgement, need to be disclosed by virtue of their size or incidence in order to obtain a more meaningful understanding of the financial information. They reflect costs that will not be repeated and therefore do not reflect ongoing trading of business which is most meaningful to users.


Included within significant non-recurring items shown in the table on page 25 of the Financial Review section are the following costs:


2019 £000


Site closures – reorganisation people costs Site closures – property, leases and contract costs Site closures – legal and professional costs Other reorganisation people costs Impairment of assets and investments Acquisition related costs


The site closure provision relates primarily to the closure of the Grain D’Or site during the prior year. -


(152) -


823 -


529 1,200


2018 £000


2,266 9,604 121 -


373 703


13,067


1,328 7,072 294 -


166 765 806 178


1,987 697 -


2018 £000


715


6,859 182 987 260 797


1,302 (49)


1,567 1,138 25


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