Annual Report 2016
Annual Report 2016
Notes to the Financial Statements
6 Other Operating Income
Profit on disposal of tangible fixed assets |
1,117 |
262 |
Rental income |
566 |
776 |
1,683 1,038
7 Exceptional Items
Included within Group operating profit for the year ended 31 March 2016 is a non-cash exceptional operating item of £ 3,581,000 ( credit ) relating to a reduction in the year in the book value of liabilities relating to a Group defined benefit pension scheme . This non-recurring item has arisen as a result of the cessation of future accrual of benefits within the scheme during the year . The item has been disclosed separately as exceptional due to its nonrecurring and significant nature .
Also , during the year , the Group has sold the contractual rights to future rental income relating to a number of its sites . This sale has generated a profit of £ 4,590,000 which has also been disclosed in the profit and loss account as exceptional due to the non-recurring nature of the sale and the significance of the proceeds and the profit generated . It is considered that the disposal and the related profit is not of an operating nature and as such it has been recorded after operating profit .
8 Finance Charges ( net )
2016 2015 ( as restated )
£’ 000 £’ 000
Interest payable and similar charges Index-linked debt ( cash ) |
7,049 |
6,900 |
Index-linked debt ( non-cash ) |
6,068 |
5,875 |
Bank term loan , drawings on short-term bank loans and other interest payable ( net ) |
3,810 |
3,621 |
Private placement loan notes |
1,808 |
1,808 |
Finance leases and hire-purchase contracts |
4 |
33 |
Irredeemable debenture stock |
68 |
68 |
18,807 18,305
Interest receivable |
|
|
Interest on loans to parent undertakings |
( 6,108 ) |
( 6,179 ) |
|
12,699 |
12,126 |
Other finance income ( net ) |
|
|
Defined benefit pension scheme interest cost |
( 570 ) |
( 729 ) |
Amounts recycled from hedging reserve |
184 |
186 |
12,313 11,583
64
Annual Report 2016
Notes to the Financial Statements
6
Other Operating Income
2016 2015
£'000 £’000
Profit on disposal of tangible fixed assets
Rental income
1,117
566
262
776
1,683
1,038
7
Exceptional Items
Included within Group operating profit for the year ended 31 March 2016 is a non-cash exceptional operating item of £3,581,000 (credit) relating to a
reduction in the year in the book value of liabilities relating to a Group defined benefit pension scheme. This non-recurring item has arisen as a result
of the cessation of future accrual of benefits within the scheme during the year. The item has been disclosed separately as exceptional due to its nonrecurring and significant nature.
Also, during the year, the Group has sold the contractual rights to future rental income relating to a number of its sites. This sale has generated a
profit of £4,590,000 which has also been disclosed in the profit and loss account as exceptional due to the non-recurring nature of the sale and the
significance of the proceeds and the profit generated. It is considered that the disposal and the related profit is not of an operating nature and as �X�]�\��Y[��X�ܙYY�\��\�][���ٚ]���B���[�[��H�\��\�
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