Annual Report and Accounts 2015


John Lewis Partnership plc


135


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


2015 £m


Staff costs (note 9) Depreciation – owned assets


Depreciation – assets held under finance leases Amortisation of intangible assets Profit/(loss) on sale of property


(Loss)/profit 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


Contingency rents expensed during the year were £3.1m (2014: £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:


2015 £m


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


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


Total fees


(0.3) (0.5) (0.8)


(0.1) (0.2) (0.3) (1.1)


2014 £m


(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 scheme. The aggregate fee for audit services to the pension scheme during the year was £51,300 (2014: £49,500).


(1,814.8) (278.8) (2.9)


(76.1) 14.2


(1.9)


(6,426.9) (6.9)


(158.2) (0.4)


8.1


2014 £m


(1,753.9) (251.9) (2.7)


(54.5) (1.8) 0.2


(6,008.9) (14.7)


(139.6) (0.3)


7.7


Introduction


Partnership difference


Principles


Strategy


Performance


Governance


Financial statements


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