Note 12
12.(a) Property, plant and equipment
| Land and | Plant and | Fixtures | Assets under | Total |
|---|---|---|---|---|---|
Cost |
|
|
|
|
|
At 31 March 2008 | 26.6 | 141.0 | 16.3 | 3.0 | 186.9 |
Additions at cost | 1.4 | 8.3 | 22.4 | – | 32.1 |
Acquisitions – through business combinations | 9.0 | 0.7 | – | – | 9.7 |
Reclassifications and transfer from intangible assets | – | 0.3 | 2.6 | (2.4) | 0.5 |
Disposals | (0.7) | (31.6) | (6.3) | – | (38.6) |
At 29 March 2009 | 36.3 | 118.7 | 35.0 | 0.6 | 190.6 |
|
|
|
|
|
|
At 31 March 2008 | 15.6 | 104.8 | 11.6 | – | 132.0 |
Charge for the period | 0.5 | 9.7 | 2.3 | – | 12.5 |
Impairment | 0.5 | – | – | – | 0.5 |
Disposals | (0.6) | (31.6) | (6.3) | – | (38.5) |
At 29 March 2009 | 16.0 | 82.9 | 7.6 | – | 106.5 |
| 20.3 | 35.8 | 27.4 | 0.6 | 84.1 |
| Land and | Plant and | Fixtures | Assets under | Total |
|---|---|---|---|---|---|
Cost |
|
|
|
|
|
At 2 April 2007 | 37.1 | 137.7 | 19.4 | 0.5 | 194.7 |
Additions at cost | 0.1 | 6.5 | 1.5 | 3.4 | 11.5 |
Reclassifications | (0.3) | 0.7 | 0.2 | (0.6) | – |
Disposals – to joint ventures | – | (0.2) | – | (0.3) | (0.5) |
Disposals | (10.3) | (3.7) | (4.8) | – | (18.8) |
At 30 March 2008 | 26.6 | 141.0 | 16.3 | 3.0 | 186.9 |
|
|
|
|
|
|
At 2 April 2007 | 7.1 | 61.8 | 12.6 | – | 81.5 |
Charge for the period | 1.4 | 11.6 | 2.1 | – | 15.1 |
Impairment | 10.8 | 35.8 | – | – | 46.6 |
Disposals | (3.7) | (4.4) | (3.1) | – | (11.2) |
At 30 March 2008 | 15.6 | 104.8 | 11.6 | – | 132.0 |
| 11.0 | 36.2 | 4.7 | 3.0 | 54.9 |
In 2008, under IAS 36, “Impairment of assets”, the impairment of an asset may exist where operating losses or net cash outflows in respect of the asset arise. An impairment review of certain assets within the Guardian News & Media division has been performed in accordance with IAS 36 which has resulted in an impairment of £46.6 million.
12.(b) Property, plant and equipment
Assets held under finance leases, capitalised and included in plant and vehicles:
| 2009 | 2008 |
|---|---|---|
Cost | 118.7 | 91.0 |
Accumulated depreciation | (79.6) | (68.5) |
Net book value | 39.1 | 22.5 |
Details of material finance lease arrangements are given in note 18.
The net book value of land and buildings is made up as follows:
| 2009 | 2008 |
|---|---|---|
Freehold | 9.9 | 6.0 |
Long leasehold | 8.1 | 3.4 |
Short leasehold | 2.3 | 1.6 |
| 20.3 | 11.0 |
All Group land and buildings with a net book value in excess of £20,000 were valued by independent third party valuers in accordance with IAS 36 “Impairment of assets” as at 31 December 2008. One property was found to be impaired due to economic conditions and this impairment loss has been recognised in the profit and loss account. One property, with a net book value of £1.8 million, is held for sale.
