Notes to the consolidated financial statements For the year ended 30 June 2024
7. Operating profit
8. Finance income and finance costs
2024 £’000
2023 £’000
Operating profit is stated after charging:
Finance income Dividends on preference shares
2024 £’000 57,924 5,848 2,139
2023 £’000 54,036
28
35
197
Interest on assets held at amortised cost
–
Payroll costs (Note 5)
2,831 3,056
Bank interest on deposits Total finance income
1,092 1,127
Amortisation of client relationships (Note 13) Depreciation of right-of-use assets (Note 15)
5,670 1,825 1,355 1,162
1,310 1,603
Auditors’ remuneration (see below)
Finance costs Finance cost of lease liabilities (Note 22)
Amortisation of computer software (Note 13)
195
235
856 672 423
Depreciation of property, plant and equipment (Note 14) Financial Services Compensation Scheme levy (see below) Acquisition and integration-related costs (Note 10)
824 458 568
13
Finance cost of deferred contingent consideration (Note 24)
61
Total finance costs
208
296
–
Dual running costs of operating platform
1,616
A more detailed analysis of auditors’ remuneration is provided below:
2024 £’000
2023 £’000
Fees payable to the Company’s auditors for the audit of the consolidated Group and Parent Company financial statements Fees payable to the Company’s auditors and its associates for other services: – Audit of the Company’s subsidiaries pursuant to legislation
356
405
440
416 532
512
– Audit-related assurance services – Non-audit-related services
2
2
Total remuneration
1,310
1,355
Audit-related assurance services relates to the provision of half-year review services, positive CASS assurance review, profit verifications and regulatory and compliance services. Non-audit- related services relates to a digital platform subscription fee. Financial Services Compensation Scheme levies Administrative costs for the year ended 30 June 2024 include a charge of £672,000 (FY23: £458,000) in respect of the Financial Services Compensation Scheme (“FSCS”) levy, all of which is in respect of the estimated levy for the 2024/25 scheme year.
126 Brooks Macdonald Group plc Annual Report and Accounts 2024
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