Annual Report & Accounts 2004 - Harvey Nash

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Harvey Nash Group plc
Annual Report & Accounts 2004
Notes to the Financial Statements continued
for the year ended 31 January 2004
3 Segmental Reporting continued
2004 2003
£’000 £’000
Net assets
Geographical area by location of client operations
United Kingdom 31,147 30,159
Rest of Europe 2,381 5,478
United States (2,168) (4,425)
Asia Pacific (1,907) (1,553)
29,453 29,659
Since many of the assets within the Harvey Nash Group are shared by the two market sectors, it is considered neither practicable nor
meaningful to provide an analysis of the net assets/liabilities by market sector.
4 Loss on Ordinary Activity Before Taxation
Loss is stated after charging/(crediting) the following amounts:
2004 2003
£’000 £’000
Depreciation of tangible fixed assets 1,322 2,147
Amortisation of goodwill 2,123 1,972
Auditors’ remuneration
– audit services parent company 12 12
– audit services other Group companies 148 205
– non-audit services – 10
Operating lease rentals
– plant and equipment 685 748
– land and buildings 2,509 2,254
Exchange (gain)/loss (81) (50)
Loss on disposal of tangible fixed assets 50 1,109
£200,154 of foreign exchange loss has been taken to reserves under the hedging offset provisions of SSAP 20.
In addition, amounts paid to the auditors of £27,459 have been capitalised in relation to the acquisitions in the year.
5 Employees
Employee costs (including Directors) were as follows:
2004 2003
£’000 £’000
Wages and salaries 16,705 20,069
Social security costs 2,114 2,501
Pension costs 455 613
19,274 23,183