Tesco 1999 Annual Report Download - page 30

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28 TESCO PLC ANNUAL REPORT 1999
Plant equipment
fixtures and
Land and fittings and
buildings vehicles Total
Note 12 Tangible fixed assets £m £m £m
Cost
At 28 February 1998 6,167 2,168 8,335
Currency translation 10 11 21
Additions at cost (a) 669 398 1,067
Purchase of subsidiary undertakings 98 64 162
6,944 2,641 9,585
Disposals (26) (108) (134)
At 27 February 1999 6,918 2,533 9,451
Depreciation
At 28 February 1998 739 1,285 2,024
Currency translation 145
Charge for period 147 254 401
Purchase of subsidiary undertakings 4 11 15
891 1,554 2,445
Disposals (5) (94) (99)
At 27 February 1999 886 1,460 2,346
Net book value (b) (c)
At 27 February 1999 6,032 1,073 7,105
At 28 February 1998 5,428 883 6,311
Capital work in progress included above (d)
At 27 February 1999 124 21 145
At 28 February 1998 118 17 135
a) Includes £24m (1998 – £20m) in respect of interest capitalised net of tax relief of £9m (1998 – £8m) principally relating to land
and building assets.
b) Net book value includes capitalised interest, net of tax relief, at 27 February 1999 of £288m (1998 – £278m).
Plant, equipment, fixtures and fittings and vehicles subject to finance leases included in net book value is:
Net book
Cost Depreciation value
£m £m £m
At 28 February 1998 179 149 30
Movement in the period – 8 (8)
At 27 February 1999 179 157 22
c) The net book value of land and buildings comprises:
1999 1998
£m £m
Freehold 5,130 4,628
Long leasehold – 50 years or more 557 508
Short leasehold – less than 50 years 345 292
At 27 February 1999 6,032 5,428
d) Capital work in progress does not include land.
Notes to the financial statements continued