National Grid 2008 Annual Report Download - page 660

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 64303
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 133
Description: EXHIBIT 15.1
0/5329.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/329/5*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 64303
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 133 Description: EXHIBIT 15.1
0/5329.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/329/5*
Table of Contents
Annual Report and Accounts 2007/08
141
13. Property, plant and equipment
(i) Includes amounts in respect of discontinued operations of £nil (2007: £59m) and capitalised depreciation of £14m (2007: £nil).
The net book value of land and buildings comprised:
The cost of property, plant and equipment at 31 March 2008 included £674m (2007: £565m) relating to interest capitalised.
Included within trade and other payables and other non-current liabilities at 31 March 2008 are contributions to the cost of
property, plant and equipment amounting to £31m (2007: £28m) and £1,228m (2007: £1,079m) respectively.
Reclassifications for 2007/08 include an amount of £139m transferred to trade and other payables, and other non-current
liabilities.
The carrying value of property, plant and equipment held under finance leases at 31 March 2008 was £193m (2007: £107m).
Additions during the year include £26m (2007: £1m) of property, plant and equipment held under finance leases.
Assets Motor
Plant in the vehicles
Land and and course of and office
buildings machinery construction equipment Total
£m £m £m £m £m
Cost at 1 A
p
ril 2006 974 25,702 1,716 677 29,069
Exchan
g
e ad
j
ustments
(
53
)
(
841
)
(
27
)
(
1
)
(
922
)
Additions 16 604 1,611 112 2,343
Acquisition of subsidiary undertakings 12 157 1 – 170
Reclassification to assets of businesses held for sale
(
152
)
(
1,292
)
(
2
)
(
22
)
(
1,468
)
Dis
p
osals
(
57
)
(
112
)
–
(
36
)
(
205
)
Other reclassifications 38 1,248
(
1,327
)
41
–
Cost at 31 March 2007 778 25,466 1,972 771 28,987
Exchan
g
e ad
j
ustments 3 17 1
–
21
Additions 39 599 2,307 64 3,009
Ac
q
uisition of subsidiar
y
undertakin
g
s
(
note 28
)
353 2,793 129 7 3,282
Dis
p
osals
(
40
)
(
135
)
–
(
56
)
(
231
)
Reclassifications 25 1,840
(
1,783
)
57 139
Cost at 31 March 2008 1,158 30,580 2,626 843 35,207
De
p
reciation at 1 A
p
ril 2006 284 9,400
–
450 10,134
Exchan
g
e ad
j
ustments
(
10
)
(
311
)
–
(
1
)
(
322
)
De
p
reciation char
g
e for the
y
ear
(
i
)
18 801
–
70 889
Reclassification to assets of businesses held for sale
(
97
)
(
350
)
–
(
18
)
(
465
)
Disposals (3) (107) – (34) (144)
De
p
reciation at 31 March 2007 192 9,433
–
467 10,092
Exchange adjustments 1 6 – – 7
De
p
reciation char
g
e for the
y
ear
(
i
)
26 853
–
75 954
Dis
p
osals
(
17
)
(
113
)
–
(
49
)
(
179
)
Depreciation at 31 March 2008 202 10,179 – 493 10,874
Net book value at 31 March 2008 956 20,401 2,626 350 24,333
Net book value at 31 March 2007 586 16,033 1,972 304 18,895
2008 2007
£m £m
Freehold 910 540
Long leasehold (over 50 years) 5 13
Short leasehold
(
under 50
y
ears
)
41 33
956 586