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NOTES TO THE FINANCIAL STATEMENTS CONTINUED |
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| 15. TANGIBLE FIXED ASSETS CONTINUED |
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Assets of £155.8m (1998 £135.9m) are held for hire under operating leases, comprising cost or valuation of £216.2m
(1998 £181.6m) and related depreciation of £60.4m (1998 £45.7m).
The net book value of plant, vehicles and equipment at 31 March 1999 includes £40.1m (1998 £65.3m) acquired under finance leases. Investment properties were revalued as at 31 March 1999, in accordance with the Group's accounting policy, by external valuers, Colliers Erdman Lewis Limited, Chartered Surveyors. This valuation was carried out in accordance with the Royal Institution of Chartered Surveyors Appraisal and Valuation Manual. On the historical cost basis the net book value of properties carried at valuation is £80.6m (1998 £78.7m), comprising cost of £104.4m (1998 £102.6m) and related depreciation of £23.8m (1998 £23.9m). |
| The Company | Freehold properties £m |
Long leasehold properties £m |
Plant vehicles & equipment £m |
Total £m |
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| Cost or valuation | ||||||||||
| At 31 March 1998 | 3.1 | 2.6 | 1.6 | 7.3 | ||||||
| Movements in year: | ||||||||||
| Difference on exchange | 0.1 | 0.1 | ||||||||
| Additions | 0.6 | 0.1 | 0.7 | |||||||
| Sales | (0.8) | (0.1) | (0.1) | (1.0) | ||||||
| Transfer to revaluation reserve | (0.1) | 0.4 | 0.3 | |||||||
| At 31 March 1999 | 2.8 | 3.0 | 1.6 | 7.4 | ||||||
| Cost | 1.6 | 1.6 | ||||||||
| Valuation - investment properties (1999) | 2.8 | 3.0 | 5.8 | |||||||
| 2.8 | 3.0 | 1.6 | 7.4 | |||||||
| Depreciation | ||||||||||
| At 31 March 1998 | - | - | 0.8 | 0.8 | ||||||
| Movements in year: | ||||||||||
| Provided in year | 0.1 | 0.1 | ||||||||
| Sales | (0.1) | (0.1) | ||||||||
| At 31 March 1999 | - | - | 0.8 | 0.8 | ||||||
| Net Book Value at 31 March 1999 | 2.8 | 3.0 | 0.8 | 6.6 | ||||||
| Net Book Value at 31 March 1998 | 3.1 | 2.6 | 0.8 | 6.5 | ||||||
| Investment properties were revalued as at 31 March 1999, in accordance with the Group’s accounting policy, by external valuers, Colliers Erdman Lewis Limited, Chartered Surveyors. This valuation was carried out in accordance with the Royal Institution of Chartered Surveyors Appraisal and Valuation Manual. | ||||||||||
| On the historical cost basis the net book value of properties carried at valuation is £3.5 million (1998 £3.5 million), comprising cost of £3.5 million (1998 £3.5 million) and related depreciation of Nil (1998 Nil). | ||||||||||