Tiscali 2003 Annual Report Download - page 110

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A summary of the changes in the accounts over the period, with regard to the net book value of non-current assets, is shown below:
The “land” item covers investment in land acquired for the Company’s new headquarters in Cagliari. The land is pledged as a EUR
70 million guarantee to Banca CIS in respect of financing provided to fund the entire project.
The item “industrial buildings” covers investment in the new headquarters in respect of work that was begun in 2002 and com-
pleted in 2003. It includes interest charges of EUR 0.5 million on the loan taken out to purchase the land and to cover building
costs.
The increase in “general plant” is also chiefly attributable to the purchase of technical plant for the new headquarters.
Plant and machinery mainly consist of technical equipment for the creation of internal networks and equipment for site set-up,
servers, personal computers and call centre equipment.
The increases recorded under “specific plant” relate to new equipment (routers, servers and transmission equipment) purchased
to support the development of ADSL services, and equipment costs following the transfer to the new headquarters.
Increases totalling EUR 21.1 million and decreases of EUR 29.2 million recorded under “payments on account” reflect the com-
pletion of the new headquarters and the subsequent restatement of the amounts concerned under the relevant accounting entries.
NET BOOK VALUE BALANCE WRITE-UPS AND (DEPRECIATION AND BALANCE
31.12.2002 INCREASES OTHER CHANGES WRITE-DOWNS) (DISPOSALS) 31.12.2003
land and buildings
- land 4,247 - - (307) - 3,940
- industrial buildings - 4,368 16,130 - - 20,498
4,247 4,368 16,130 (307) - 24,438
plant and machinery
- general plant and machinery 909 1,262 11,206 (1,447) - 11,930
- specific plant and machinery 16,286 7,005 769 (4,773) - 19,287
- other plant and machinery 723 53 - (371) - 404
17,918 8,320 11,975 (6,591) - 31,621
industrial and commercial equipment
- network and other specific equipment 362 681 - (161) - 882
- other equipment 632 31 19 (332) - 350
- miscellaneous minor items 5 173 19 (26) - 171
999 885 38 (519) - 1,403
other assets
- office furniture 946 477 973 (248) - 2,148
- IT and electronic office equipment 1,225 24 - (460) - 789
- other assets 179 319 - (77) (2) 419
2,349 820 973 (785) (2) 3,356
payments on account and assets in
course of acquisition
- assets in course of acquisition 8,125 21,075 (29,116) - (84) -
- payments on account - 1,137 9 (1,146) - -
9,262 21,084 (30,262) - (84) -
34,775 35,477 (1,146) (8,202) (86) 60,818