Barclays 2003 Annual Report Download - page 142

Notes to the Accounts
For the Year Ended 31st December 2003
21 Tangible fixed assets
2003 2002
Total Property Equipment Total Property Equipment
Cost or valuation £m £m £m £m £m £m
At beginning of year 3,672 1,968 1,704 4,038 2,257 1,781
Acquisitions and disposals of Group undertakings 234 160 74 (66) (38) (28)
Exchange and other adjustments (2) (5) 3 (24) (24) –
Additions at cost 320 86 234 284 119 165
Sale of assets (207) (22) (185) (533) (331) (202)
Fully depreciated assets written off (6) (3) (3) (27) (15) (12)
At end of year 4,011 2,184 1,827 3,672 1,968 1,704
Accumulated depreciation and impairment
At beginning of year 2,046 797 1,249 2,080 850 1,230
Acquisitions and disposals of Group undertakings 1–1(36) (13) (23)
Exchange and other adjustments 1248(18) (27) 9
Charge for year 289 93 196 291 93 198
Sale of assets (121) (7) (114) (244) (91) (153)
Fully depreciated assets written off (6) (3) (3) (27) (15) (12)
At end of year 2,221 884 1,337 2,046 797 1,249
At valuation
1979 to 1993 618 618 – 628 628 –
At cost 3,393 1,566 1,827 3,044 1,340 1,704
4,011 2,184 1,827 3,672 1,968 1,704
Accumulated depreciation (2,221) (884) (1,337) (2,046) (797) (1,249)
Net book value 1,790 1,300 490 1,626 1,171 455
2003 2002
Balance sheet value of property £m £m
Freehold 978 846
Leasehold over 50 years unexpired 84 93
Leasehold up to 50 years unexpired 236 231
Assets in the course of construction 21
1,300 1,171
Historical cost of property
At cost 1,956 1,727
Accumulated depreciation and impairment (880) (797)
Net book value 1,076 930
The net book value of property occupied by the Group for its own use was £1,250m at 31st December 2003 (2002: £1,116m).
The net book value of property at 31st December 2003 included £191m (2002: £194m) in respect of land.
As at 31st December 2003, Barclays Group owns leases or holds under licence properties throughout the world arising from operational activities.
The majority of UK properties are retail branches and are widely distributed throughout England, Scotland, Wales and Northern Ireland. The most
significant properties are 54 Lombard Street, St Swithins House, Murray House and North and South Colonnade, Canary Wharf, all located in London,
together with administrative buildings in Northampton, Knutsford, Coventry and Poole.
On 3rd July 2002, Barclays Group disposed of its freehold Head office at 54 Lombard Street. Barclays continues to occupy a substantial part of these
premises under a lease with the facility to terminate the lease when the Head office moves to new premises currently under construction in Canary
Wharf, London.
22 Commitments for capital expenditure not provided in these accounts
At 31st December 2003, commitments for capital expenditure under contract amounted to £nil (2002: £1m).
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