NATS-Annual-Report-2015

More documents

Recommendations

Info

Annual Report and Accounts 2015 | NATS Holdings Limited Financial Statements 106 Notes forming part of the consolidated accounts (continued) 6. Operating profit for the year Operating profit for the year has been arrived at after charging/(crediting): a. Redundancy and relocation costs NATS (Services) Limited is undertaking a reorganisation, which included voluntary redundancies in the year. Last year, NATS (En Route) plc undertook a voluntary redundancy programme to reduce its operating costs to meet the challenging cost efficiency targets set for Reference Period 2 (RP2: 2015-2019). These costs are considered to be exceptional. The group also incurs other redundancy costs in the normal course of business. Relocation costs are incurred as a result of the redeployment of staff following site closures or following contract termination. Credits are reported where costs incurred were lower than originally estimated. To the extent that staff cannot be redeployed, termination terms are agreed. In response to the economic downturn and changes in technology, voluntary redundancy may also be offered to staff in some areas of the business. 2015 2014 £m £m Exceptional redundancy costs 9.2 40.8 Other redundancy costs 1.2 0.6 Relocation of staff to the Prestwick centre - (0.1) Relocation relating to the Birmingham Airport contract 0.4 - 10.8 41.3 Redundancy costs include pension augmentation costs, see note 7a. Financial Statements
Annual Report and Accounts 2015 | NATS Holdings Limited Financial Statements 107 Notes forming part of the consolidated accounts (continued) 6. Operating profit for the year (continued) b. Other items 2015 2014 £m £m CAA regulatory charges in respect of NERL’s air traffic services licence 5.6 5.5 CAA regulatory charges for safety regulation at airports 3.2 3.0 Impairment of goodwill 17.0 32.0 Depreciation of property, plant and equipment 79.3 78.0 Impairment of property, plant and equipment 0.4 2.0 Amortisation of intangible assets 30.2 27.7 Impairment of intangible assets 0.4 - Deferred grants released (0.8) (0.7) Research and development costs 7.9 7.4 Above the line tax credits relating to research and development costs (0.8) (0.5) Auditor’s remuneration for audit services (see below) 0.1 0.2 The analysis of auditor’s remuneration is as follows: 2015 2014 £m £m Fees payable to the company’s auditor for the audit of the company’s annual accounts 0.1 0.2 Fees payable to the company’s auditor and their associates for other services to the group - The audit of the company’s subsidiaries - - Total audit fees 0.1 0.2 Total non-audit fees of £75,740 (2014: £84,529) include tax services of £63,740 (2014: £nil) and other services of £12,000 (2014: £84,529). Total fees payable to the company’s auditor for the audit of the subsidiary accounts was £23,800 (2014: £40,800). Government grants relating to the purchase of property, plant and equipment and Ministry of Defence contributions received prior to 1 April 2001 are treated as deferred income which is credited to the income statement by equal annual installments over the expected useful lives of the related assets. Research and development costs represent internal labour costs incurred in support of research and development activities. Financial Statements
Page 1 and 2:
Annual Report and Accounts 2015 NAT
Page 3 and 4:
Annual Report and Accounts 2015 | N
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56: Annual Report and Accounts 2015 | N
Page 105: Annual Report and Accounts 2015 | N
Page 155: Annual Report and Accounts 2015 | N
show all

NATS-Annual-Report-2015

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?