Notes to the Accounts For the year ended 31 December 2007
3. Profit for the year
| 2007 £'000 |
2006 £'000 |
||
|---|---|---|---|
| Profit for the year is stated after charging/(crediting): | |||
| Employment costs (Note 4) | 224,743 | 168,792 | |
| Exchange (gain)/loss* | (240) | 124 | |
| Depreciation of property, plant and equipment - owned | 6,726 | 5,630 | |
| Amortisation of computer software | 934 | 815 | |
| Fees payable to the company's auditors for the audit of the company's annual accounts | 69 | 63 | |
| Fees payable to the company's auditors and their associates for other services to the group: | |||
| - The audit of the company's subsidiaries pursuant to legislation | 477 | 362 | |
| Total audit fees | 546 | 425 | |
| - Other services pursuant to legislation | 26 | 27 | |
| - Tax services | 162 | 245 | |
| - Other services | 10 | 46 | |
| Total non-audit fees | 198 | 318 | |
| Loss/(profit) on disposal of property, plant and equipment, and computer software | 91 | (48) | |
| Operating lease rentals | - land and buildings | 16,416 | 13,543 |
| - plant and machinery | 3,774 | 2,505 | |
*In 2007, this includes £502k of gains on foreign exchange swaps that economically hedge the fair value of loans with subsidiaries, but for which hedge accounting was not applied. This comprises a gain of £738k which is directly offset by foreign exchange losses on the underlying Euro intercompany loans, with an offsetting £236k charge relating to the Euro to Sterling interest differential.