Barclays 2004 Annual Report Download - page 157

20 Tangible fixed assets
2004 2003
Total Property Equipment Total Property Equipment
Cost or valuation £m £m £m £m £m £m
At beginning of year 4,011 2,184 1,827 3,672 1,968 1,704
Acquisitions and disposals of Group undertakings 651234 160 74
Exchange and other adjustments (30) (16) (14) (2) (5) 3
Additions at cost 531 219 312 320 86 234
Sale of assets (186) (87) (99) (207) (22) (185)
Fully depreciated assets written off (4) (2) (2) (6) (3) (3)
At end of year 4,328 2,303 2,025 4,011 2,184 1,827
Accumulated depreciation and impairment
At beginning of year 2,221 884 1,337 2,046 797 1,249
Acquisitions and disposals of Group undertakings –––1–1
Exchange and other adjustments (14) 14 (28) 12 4 8
Charge for year 295 86 209 289 93 196
Sale of assets (91) (4) (87) (121) (7) (114)
Fully depreciated assets written off (4) (2) (2) (6) (3) (3)
At end of year 2,407 978 1,429 2,221 884 1,337
At valuation
1979 to 1993 610 610 – 618 618 –
At cost 3,718 1,693 2,025 3,393 1,566 1,827
4,328 2,303 2,025 4,011 2,184 1,827
Accumulated depreciation (2,407) (978) (1,429) (2,221) (884) (1,337)
Net book value 1,921 1,325 596 1,790 1,300 490
2004 2003
Balance sheet value of property £m £m
Freehold 850 978
Leasehold over 50 years unexpired 45 84
Leasehold up to 50 years unexpired 286 236
Assets in the course of construction 144 2
1,325 1,300
Historical cost of property
At cost 2,081 1,956
Accumulated depreciation and impairment (968) (880)
Net book value 1,113 1,076
The net book value of property occupied by the Group for its own use was £1,265m at 31st December 2004 (2003: £1,250m).
The net book value of property at 31st December 2004 included £196m (2003: £191m) in respect of land.
As at 31st December 2004, 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.
Outside the UK Barclays largest branch network lies in Spain. The most significant office premises are in New York, San Francisco and Madrid.
During 2005 Barclays will occupy a new global headquarters at 1 Churchill Place, Canary Wharf, London.
At 31st December 2004, commitments for capital expenditure under contract amounted to £2m (2003: £nil).
Barclays PLC Annual Report 2004
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