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• 5Financial statements
  • Independent auditors' report to the members of Schroders plc
  • Consolidated income statement
  • Consolidated balance sheet
  • Consolidated statement of recognised income and expense
  • Consolidated cash flow statement
  • Notes to the accounts
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  • Schroders plc balance sheet
  • Schroders plc statement of recognised income and expense
  • Schroders plc cash flow statement
  • Schroders plc notes to the accounts
• 6Other information

Notes to the accounts

for the year ended 31 December 2007

4. Revenues and expenses - other disclosures

	2007 £mn	2006 £mn
Included in revenues:
Property rental income	3.0	3.7
Net losses on foreign exchange1	(7.0)	(36.4)
Aggregate amounts receivable under finance leases	-	1.2
Net gains on financial assets and liabilities held at fair value through profit or loss	55.3	65.5
Carried interests and distributions from available-for-sale Private Equity financial assets	33.3	11.0
Other net gains on disposal of available-for-sale financial assets	6.9	13.7
Impairment of available-for-sale financial assets	-	(1.4)
Amounts recycled through revenues in respect of available-for-sale financial assets	40.2	23.3
Fee income arising from financial assets that are not at fair value through profit or loss	-	0.2
Interest income receivable by Private Banking subsidiaries on financial assets not at fair value through profit or loss	128.8	112.8
Interest income receivable by Private Banking subsidiaries on financial assets at fair value through profit or loss	0.9	0.8
Interest expense payable by Private Banking subsidiaries on financial liabilities not at fair value through profit or loss	(106.0)	(90.8)
Net interest income in Private Banking subsidiaries	23.7	22.8

	2007 £mn	2006 £mn
Included in administrative expenses:
Salaries and other remuneration	357.1	299.6
Social security costs	34.6	30.1
Other pension costs (see note 5)	11.4	15.5
Employee benefits expense	403.1	345.2
Operating lease payments	26.0	25.0

The average number of employees employed by the Company and its subsidiary undertakings during the year was:

	2007 Number	2006 Number
Full-time employees	2,516	2,338
Contract and temporary staff	289	295
	2,805	2,633
They were employed as follows (all continuing operations):
Asset Management	2,471	2,292
Private Banking	301	314
Private Equity	24	18
Group	9	9
	2,805	2,633

Included in administrative expenses:

Audit and non-audit fees

	2007			2006
	UK £mn	Overseas £mn	Total £mn	UK £mn	Overseas £mn	Total £mn
Audit fees for the Annual Accounts	0.6	-	0.6	0.3	-	0.3
Year-end audit services to the   subsidiaries of the Company	0.6	1.0	1.6	0.8	0.9	1.7
Other audit services provided   pursuant to legislation	0.1	0.1	0.2	0.2	0.1	0.3
Tax services	0.2	0.4	0.6	0.1	0.2	0.3
Other services	0.2	0.1	0.3	0.2	-	0.2
	1.7	1.6	3.3	1.6	1.2	2.8

Included in net finance income:	2007 £mn	2006 £mn
Bank interest receivable	7.8	7.0
Other interest receivable on financial assets not at fair value through profit or loss	2.7	0.5
Interest on financial assets held at fair value through profit or loss	12.6	12.6
Interest receivable and similar income	23.1	20.1
Interest payable on bank loans and overdrafts	-	0.2
Other interest payable on financial liabilities not at fair value through profit or loss	(0.5)	(1.2)
Interest payable and similar charges	(0.5)	(1.4)