BISICHI MINING PLC ANNUAL REPORT 2017

Financial statements Notes to the financial statements
2. OPERATING COSTS
Mining 25,664 16,184
Property 151 211
Cost of sales 25,815 16,395
Administration 7,615 6,689
Operating costs 33,430 23,084
The direct property costs are:
Ground rent 8 10
Direct property expense 130 177
Bad debts 13 24
151 211
Operating costs above include depreciation of £1,790,000 (2016: £1,785,000).
2017
£’000
3. (LOSS)/GAIN ON REVALUATION OF INVESTMENT PROPERTIES
The reconciliation of the investment surplus to the gain on revaluation of investment properties in the income statement is set out below:
2017
£’000
Investment surplus 16 458
Loss on valuation movement in respect of head lease payments (29) (13)
(Loss)/gain on revaluation of investment properties (13) 445
4. PROFIT/(LOSS) BEFORE TAXATION
(Loss)/profit before taxation is arrived at after charging:
Staff costs (see note 28) 6,396 5,321
Depreciation 1,790 1,785
Exchange loss/(gain) 256 (449)
Fees payable to the company’s auditor for the audit of the company’s annual accounts 41 40
Fees payable to the company’s auditor and its associates for other services:
The audit of the company’s subsidiaries pursuant to legislation 10 10
Audit related services 1 32
Non-audit related services 1 -
The directors consider the auditors were best placed to provide the above non-audit and audit related services which refer to regulatory matters. The
audit committee reviews the nature and extent of non-audit services to ensure that independence is maintained.
5. DIRECTORS’ EMOLUMENTS
Directors’ emoluments are shown in the Directors’ remuneration report on page 36 which is within the audited part of that report.
2017
£’000
2016
£’000
2016
£’000
2016
£’000
68 Bisichi Mining PLC