Holiday Inn 2003 Annual Report Download - page 48

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46 InterContinental Hotels Group 2003
NOTES TO THE FINANCIAL STATEMENTS
Fixtures,
Land and fittings and Plant and Total
buildings equipment machinery Group
19 TANGIBLE FIXED ASSETS (CONTINUED) £m £m £m £m
Cost or valuation:
At 30 September 2002 5,906 2,450 136 8,492
Exchange and other adjustments 11 (8) 4 7
Additions 139 291 31 461
Disposals (221) (146) (5) (372)
Separation of MAB (2,809) (930) (1) (3,740)
Impairment (22) – – (22)
At 31 December 2003 3,004 1,657 165 4,826
Depreciation:
At 30 September 2002 147 622 82 851
Exchange and other adjustments 3 (10) 1 (6)
Provided 28 243 19 290
On disposals (13) (83) (5) (101)
Separation of MAB (48) (162) – (210)
Impairment 51––51
At 31 December 2003 168 610 97 875
Net book value:
At 31 December 2003 2,836 1,047 68 3,951
At 30 September 2002 5,759 1,828 54 7,641
31 Dec 2003
Cost or Net book 30 Sept
valuation Depreciation value 2002
Land and buildings £m £m £m £m
Freehold 2,109 (107) 2,002 4,598
Leasehold: unexpired term of more than 50 years 825 (25) 800 932
unexpired term of 50 years or less 70 (36) 34 229
3,004 (168) 2,836 5,759
Cost or valuation of properties comprises:
1999 valuation 1,567
1992 valuation 17
Cost 1,420
3,004