| Operating Profit |
Operating Profit | | | | | | | | | | | | | | | | | | | 2024
£’000 | | 2023
£’000 | | 2022
£’000 | | Operating profit is stated after charging/(crediting): | | | | | | | Depreciation of owned property, plant and equipment | 10,312 | | | 8,730 | | | 6,634 | | | Depreciation of right-of-use assets | 13,026 | | | 11,861 | | | 10,958 | | | Impairment/(Reversal of impairment) of right-of-use assets | 130 | | | (131) | | | 214 | | | Amortisation of intangible assets | 15,473 | | | 12,467 | | | 11,163 | | | Net loss/(gain) on disposal of non-current assets (tangibles and intangibles) | 690 | | | (45) | | | (73) | | | Net gain on disposal of right-of-use asset | (139) | | | (1) | | | (187) | | | Loss on derecognition of right-of-use assets sub-leased | 81 | | | — | | | 132 | | | Research and development tax credit | (7,788) | | | (5,027) | | | (2,211) | | | Government grants | (2,803) | | | (2,935) | | | (642) | | | Share-based compensation expense | 34,678 | | | 31,058 | | | 35,005 | | | Restructuring costs | 11,645 | | | 6,588 | | | — | | | Expected credit loss allowance on trade receivables | 58 | | | 932 | | | 765 | | | Expected credit loss allowance on accrued income | (8) | | | — | | | (26) | | | Operating lease costs: | | | | | | | Land and buildings | 3,165 | | | 1,957 | | | 855 | |
Restructuring costs of £11.6 million relate to severance payments made to employees in respect of a restructuring exercise that took place during the year (2023: £6.6 million). Operating lease costs for the year ended 30 June 2024 include short-term lease rent (for which the short-term lease exemption is taken under IFRS 16), property taxes and other property related costs. Auditor’s remuneration: During the year, the Group (including its overseas subsidiaries) obtained the following services from the Company’s auditors in respect of each year: | | | | | | | | | | | | | | | | | | | 2024
£’000 | | 2023
£’000 | | 2022
£’000 | | Audit of the financial statements | £ | 1,922 | | | £ | 1,467 | | | £ | 1,150 | | | Subsidiary local statutory audits | 140 | | | 108 | | | 87 | | | Sarbanes-Oxley Act attestation fees | 1,442 | | | 1,506 | | | 1,710 | | | Total audit fees | 3,504 | | | 3,081 | | | 2,947 | | | Quarterly review fees | 285 | | | 260 | | | — | | | Transition fees | — | | | 180 | | | — | | | Total audit related fees | 285 | | | 440 | | | — | | | Tax fees | 245 | | | 377 | | | — | | | All other fees | 96 | | | 202 | | | — | | | Total auditor’s remuneration | £ | 4,130 | | | £ | 4,100 | | | £ | 2,947 | |
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