RBS 2003 Annual Report Download - page 151
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149
Annual Report and Accounts 2003
Notes on the accounts
2003 2002
History of experience gains and losses £m £m
Difference between expected and actual return on scheme assets:
Amount 872 (2,645)
Percentage of scheme assets 6.8% (22.6%)
Experience gains and losses on scheme liabilities:
Amount 7 (25)
Percentage of the present value of scheme liabilities — (0.2%)
Total amount recognised in the statement of total recognised gains and losses:
Amount 69 (2,392)
Percentage of the present value of scheme liabilities 0.5% (17.7%)
4 Profit on ordinary activities before tax
Profit on ordinary activities before tax is stated after taking account of the following:
2003 2002 2001
£m £m £m
Income Aggregate amounts receivable under finance leases,
hire purchase and conditional sale contracts 1,161 1,342 1,575
Aggregate amounts receivable under operating leases 939 811 707
Profit on disposal of investment securities 172 85 48
Share of associated undertakings’ net profit/(loss) 12 2 (6)
Expenses Operating lease rentals of premises 321 255 214
Operating lease rentals of computers and other equipment 13 16 18
Finance charges on leased assets 8 23 40
Interest on subordinated liabilities 551 659 674
Integration expenditure* relating to:
– acquisition of NatWest 143 810 847
– other acquisitions 86 147 28
* Integration expenditure comprises:
Staff costs 125 530 598
Premises and equipment 31 127 64
Other administrative expenses 73 298 188
Depreciation —225
229 957 875
Auditors’ remuneration
Amounts paid to the auditors for statutory audit and other services were as follows:
2003 2002
£m £m
Audit services
– Statutory audit 7.2 5.8
– Audit related regulatory reporting 0.6 0.5
7.8 6.3
Further assurance services 5.7 2.0
Tax services
– Compliance services 0.1 0.3
– Advisory services 0.5 0.6
0.6 0.9
Other services 0.7 3.6
Total 14.8 12.8
The auditors’ remuneration for statutory audit work for the company was £0.1 million (2002 – £0.1 million). Non–audit fees paid to the
auditors and their associates in the UK was £6.2 million (2002 – 6.3 million).