b'Mercia Asset Management PLC95Annual Report and Accounts 20217. Operating profit/(loss) before exceptional itemsOperating profit/(loss) before exceptional items is stated after charging:Year ended Year ended31 March 31 March2021 2020000 000Administrative expenses:Staff costs including bonuses linked to performance fees (note 5) 10,703 8,780Marketing, professional adviser, travel and entertainment and other administration costs 5,137 3,297Depreciation of property, plant and equipment (note 17) 70 73Depreciation of right-of-use assets (note 18) 142 139Expenses relating to short-term leases and leases of low-value assets (note 23) 283 218Auditors remuneration 1 : Fees payable to the Companys auditor for the audit of the Company and consolidated accounts 115 69 Fees payable to the Companys auditor for other services:Review of the interim accounts of the Company 44 20The audit of accounts of subsidiaries of the Company 46 35CASS related assurance services 14 30Total administrative expenses 16,554 12,661Share-based payments charge (note 6) 543 528 Strategic report GovernanceAmortisation of intangible assets (note 16) 2,317 852Movement in fair value of deferred consideration (note 24) 365 19,779 14,0411The auditors remuneration for the year ended 31 March 2020 and the review of the interim accounts for the year ended 31 March 2021 relate to services provided by the Groups former incumbent auditors.As part of the Groups placing and subsequent acquisition of the VCT fund management business during the year ended 31 March 2020, auditors due diligence and advisory fees of 173,000 were incurred. Of these costs incurred, 36,000 were included in equity asFinancial statementsshare issue related costs, with the remaining 137,000 charged to the consolidated statement of comprehensive income as an exceptional cost. 8. Exceptional itemsThere were no exceptional items recognised during the year ended 31 March 2021.The exceptional items for the year ended 31 March 2020 represent costs incurred in the acquisition of the VCT fund management business in December 2019 in addition to restructuring costs. Total acquisition costs amounted to 384,000. Of this total, 87,000 were share issue related costs and have been charged to the share premium account (note 27). The balance of 297,000 has been charged to the consolidated statement of comprehensive income, as an exceptional non-trading and non-recurring cost.The balance of 398,000 is in respect of staff related costs incurred in connection with a restructuring which took place in March 2020 prior to the onset of the COVID-19 pandemic.9. Finance incomeYear ended Year ended31 March 31 March2021 2020000 000Interest income arising from:Cash and cash equivalents 5 101Short-term liquidity investments 13 29Investee company loans (interest and redemption premiums) 50 116total interest income 68 246'