Enterprise Inns plc Annual Report and Accounts 2012

Notes to the Accounts
at 30 September 2012
8. Auditors’ remuneration (This note is shown rounded to the nearest £000)
A description of the work of the Audit Committee is set out in the Corporate Governance section on page 32 and
includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are
provided by the auditor.
2012
£000
Group audit fees 151 183
Audit fees in respect of subsidiaries 14 17
Audit related assurance services – 16
Other assurance services 19 15
Taxation compliance services – 64
Taxation advisory services 100 93
2011
£000
284 388
Group audit fees include £137,000 (2011: £166,000) paid to the auditors for the audit of the Parent Company.
Fees paid to the auditors in respect of non-audit services provided to the Parent Company are not required to be
disclosed because the Group financial statements are only required to disclose such fees on a consolidated basis.
9. Profit/(loss) on sale of property, plant and equipment including goodwill allocation
2012
£m
2011
£m
Profits on sale of property, plant and equipment 42 23
Losses on sale of property, plant and equipment (10) (12)
Profits on sale and leaseback disposals 1 30
Profit on sale of property, plant and equipment 33 41
Goodwill allocated to disposals (18) (15)
Net profit on sale of property, plant and equipment 15 26
The tax impact of the sale of property, plant and equipment is set out in note 13.
During the year 301 pubs (2011: 466 pubs) and various other plots of land with a book value of £154 million (2011:
£95 million) were sold generating gross proceeds of £193 million (2011: £117 million) which, after taking account of
disposal costs of £7 million (2011: £11 million), resulted in an overall profit of £32 million (2011: £11 million).
In addition to the above, 17 pubs (2011: 105 pubs) with a book value of £23 million (2011: £102 million) were sold
as part of the Group’s sale and leaseback programme. These pubs were sold at fair value and generated gross
proceeds of £24 million (2011: £133 million) which, after taking account of disposal costs resulted in a profit over
book value of £1 million (2011: £30 million). These pubs were immediately leased back by the Group and are now
classified as operating leases.
The £208 million shown in the Group Cash Flow Statement as ‘Receipts from sale of property, plant and equipment’
comprises £210 million of receipts net of disposal costs relating to the current financial year (described above), less
£2 million of prior year disposal costs paid during this financial year.
In accordance with IAS 36 purchased goodwill is allocated to operations disposed of, based on the relative value
of the disposal to operations retained. Accordingly, goodwill of £18 million (2011: £15 million) has been allocated to
the 318 pubs (2011: 571 pubs) disposed of during the year.
Our Accounts Annual Report 2011 2012
67