Ryanair 2006 Annual Report Download - page 41

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(Continued)
Notes- forming part of the Consolidated Financial Statements 41
ANNUAL REPORT & FINANCIAL STATEMENTS 2006
1 PROPERTY, PLANT AND EQUIPMENT
GROUP
March 31, 2006
Hangar & Plant & Fixtures & Motor
Aircraft Buildings Equipment Fittings Vehicles Total
000 000 000 000 000 000
Cost
At beginning of year 2,544,771 13,129 5,357 10,685 640 2,574,582
Additions in year 542,518 136 1,183 1,136 341 545,314
Disposals in year (217,204) - - (48) - (217,252)
At end of year 2,870,085 13,265 6,540 11,773 981 2,902,644
Depreciation
At beginning of year 440,374 2,934 3,938 8,933 512 456,691
Charge for year 121,611 740 938 1,022 94 124,405
Eliminated on disposals (211,408) - - (32) - (211,440)
At end of year 350,577 3,674 4,876 9,923 606 369,656
Net book value
At March 31, 2006 2,519,508 9,591 1,664 1,850 375 2,532,988
March 31, 2005
Cost
At beginning of year 1,980,477 13,081 4,247 9,718 466 2,007,989
Additions in year 627,180 48 1,115 988 174 629,505
Disposals in year (62,886) - (5) (21) - (62,912)
At end of year 2,544,771 13,129 5,357 10,685 640 2,574,582
Depreciation
At beginning of year 393,438 2,549 2,868 7,828 376 407,059
Charge for year 107,656 385 1,075 1,105 136 110,357
Eliminated on disposals (60,720) - (5) - - (60,725)
At end of year 440,374 2,934 3,938 8,933 512 456,691
Net book value
At March 31, 2005 2,104,397 10,195 1,419 1,752 128 2,117,891
At March 31, 2006, aircraft with a net book value 2,124.4m (2005: 1,789.5m) were mortgaged to lenders as security for loans.
Under the security arrangements for the group’s new Boeing 737-800 “next generation” aircraft, the group does not hold legal
title to those aircraft while loan amounts remain outstanding.
At March 31, 2006, the cost and net book value of aircraft includes 301.5m (2005: 292.5m) in respect of advance payments on
aircraft. This amount is not depreciated. The cost and net book value also includes capitalised aircraft maintenance, aircraft
simulators and stock of spare aircraft parts.
The net book value of assets held under finance leases at March 31, 2006 and 2005 was 91.6m and 95.3m respectively.