ANNUAL REPORT 2011 - Horse Racing Ireland

NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2011 (CONTINUED)12. (Deficit) / Surplus for the year2011 2010€’000 €’000(Deficit) / Surplus for the year has been arrived at after charging:Depreciation 3,056 2,792Intangible assets amortisation 27 14Auditors’ remuneration: Audit of group financial statements 90 91Capital development fund interest 262 176Finance lease interest 3 5Impairment of assets 16,952 -Loss on disposal of assets - 1,982and after crediting:Interest receivable on deposits 1,057 694Interest receivable on loans 87 49Negative goodwill amortisation 437 437Horse Racing Ireland administration costs comprise the following:2011 2010€’000 €’000Running costs of departments - pay and non-pay 3,811 4,214Additional pension / FRS 17 (193) (234)Building running costs 1,288 9104,906 4,890The prior year comparatives have been restated to reflect the re-analysis of the running costs of departments.The remuneration package of the Chief Executive of Horse Racing Ireland was as follows:2011 2010€’000 €’000Basic salary 191 191Pension contributions and other taxable benefits 59 65250 25640 Horse Racing Ireland Annual Report 2011