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3. RESEARCH AND DEVELOPMENT Year ended 31 March (£ millions)
2013
2012
2011
Total R&D costs
1,057.7
900.0
650.5
R&D expensed
(197.6)
(149.3)
(119.4)
Development costs capitalised
860.1
750.7
531.1
Interest capitalised
109.7
74.0
50.8
Total Research and Development additionss
969.8
824.7
581.9
2013
2012
2011
Sale of goods
15,783.7
13,511.7
9,870.7
Total revenues
15,783.7
13,511.7
9,870.7
Year ended 31 March (£ millions)
2013
2012
2011
Net foreign exchange
108.7
(14.3)
(32.9)
4. REVENUE Year ended 31 March (£ millions)
5. NET INCOME
Expense / (income) included in net income for the year are the following:
Derivative at fair value through income statement
21.4
58.6
1.1
274.4
234.1
242.8
50.6
48.1
53.5
Amortisation of internally generated development costs
296.5
183.3
105.4
Research and development expense
197.6
149.3
119.4
26.4
19.1
16.4
1.7
8.5
5.8
(44.0)
-
-
3.3
3.6
2.4
Depreciation of property, plant and equipment Amortisation of intangible assets (excluding internally generated development costs)
Operating lease rentals in respect of plant, property and equipment Loss on disposal of fixed assets Government grants Auditor remuneration – audit services (see below)
Total government grants of £62.4 million were accounted for in the year. A grant of £26.4 million was awarded for investment in manufacturing facility equipment (£8.8 million) and a commitment to provide sustainable employment for an agreed duration (£17.6 million). A grant of £36.0 million was awarded for supporting regional development and a commitment to maintain the company’s role as general distributor, retaining regional business and sustain its current business scale in the respective market.
Year ended 31 March (£ millions) Fees payable to the company’s auditors for the audit of the company’s annual accounts
2013
2012
2011
0.1
0.1
0.1
2.7
2.4
2.0
Fees payable to the company’s auditors & their associates for other services to the group - audit of the company’s subsidiaries Total audit fees
2.8
2.5
2.1
Audit related assurance services
0.2
0.3
0.3
Other assurance services
0.3
0.8
-
Total audit and related fees
3.3
3.6
2.4
Fees payable to Deloitte LLP and their associates for non-audit services to the company are not required to be disclosed separately as these fees are disclosed on a consolidated basis.
ANNUAL REPORT // 123