RWS Annual Report 2022 web - Flipbook - Page 120
Notes to the Consolidated Financial Statements (continued)
The following is an analysis of revenue by the geographical area in which the Group’s undertakings are located.
Revenue by subsidiary location
UK
2022
£m
2021
£m
189.5
175.1
Continental Europe
166.6
174.1
United States of America
339.0
297.3
54.1
48.0
749.2
694.5
Rest of the world
Total
The table below shows operating assets by geographical location of the Group's undertakings. These assets exclude
goodwill and acquired intangibles.
Operating assets by geography
UK
Continental Europe
United States of America
Rest of the World
Total
FY22
£m
FY21
£m
162.7
148.0
79.0
76.3
147.2
118.6
67.5
61.5
456.4
404.4
2022
£m
2021
£m
328.4
311.1
34.2
30.7
5. OPERATING PROFIT
Operating profit has been arrived at after charging/(crediting):
Total staff costs (before the capitalisation of internal development costs) (note 7)
Research and development expenditure
Depreciation of property, plant and equipment (note 14)
7.1
6.2
Depreciation of right of use assets (note 18)
10.8
12.7
Amortisation of intangible assets (note 13)
50.1
47.8
Foreign exchange losses/(gains)
3.7
(0.7)
Expected credit loss expense (note 15)
0.8
0.4
Loss/ (gain) on changes in fair values on derivative contracts (see note 20)
1.1
(3.2)
Operating lease rentals:
- Property (note 18)
1.8
1.7
- Plant and equipment (note 18)
0.5
0.5
Auditor's remuneration
Fees payable to the Company’s auditor for the audit of the Group’s annual financial statements
1.8
1.2
- The audit of subsidiaries of the Company
0.1
0.1
Total audit fees
1.9
1.3
Non audit fees of £27k (2021: £15k) were incurred in the period in respect of assurance related services. The current
year fees payable to the Company's auditor includes £0.2m paid in respect of statutory audit services for the year ended
30 September 2021.
Research and development costs
Management continually review development expenditure to assess whether any costs meet the criteria for
capitalisation. In addition to the amounts charged to the income statement, the Group has capitalised £22.6m
(2021: £19.7m) of development costs in the year, further details can be found in Note 13.
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RWS — Annual Report 2022
NOTES TO THE CONSOLIDATED STATEMENTS
