Ofcom annual report and accounts 2005/2006
Ofcom annual report and audited accounts (157 pages, 4.2M PDF) for the financial year 2005/2006. Expenditure was £124 million, similar to the previous year's. The number of employees has increased by 23 to 776. A surplus of £33 million was produced on income taken mainly from grand-in-aid (£89 million for spectrum, £3 million for competition law enforcement and £0.6 million for media literacy) and licence fees (for telecoms and broadcasting). After accounting for pension and property costs this was used to repay £18 million of a DTI loan, leaving £10 million due. The accounts also disclose that Ofcom cannot recover VAT incurred as part of its regulatory activities.
Filed under Media, Ofcom, Regulators.
