Barclays 2006 Annual Report Download - page 194

Notes to the accounts
For the year ended 31st December 2006
Barclays PLC
Annual Report 2006
190
25 Property, plant and equipment
2006 2005
Operating Operating
leased leased
Property Equipment assets Total Property Equipment assets Total
£m £m £m £m £m £m £m £m
Cost
At 1st January 2,450 2,541 365 5,356 2,303 2,026 361 4,690
Acquisitions and disposals ––––126 159 – 285
Additions 180 475 – 655 125 463 – 588
Disposals (422) (382) – (804) (80) (130) – (210)
Fully depreciated assets written off (1) (89) – (90) (1) (1) – (2)
Exchange and other adjustments (53) (116) – (169) (23) 24 4 5
At 31st December 2,154 2,429 365 4,948 2,450 2,541 365 5,356
Accumulated depreciation and impairment
At 1st January (1,022) (1,575) (5) (2,602) (978) (1,429) (1) (2,408)
Acquisitions and disposals ––––(1) (1) – (2)
Depreciation charge (118) (335) (2) (455) (92) (268) (2) (362)
Impairment (14) – – (14) ––––
Disposals 148 341 – 489 20 113 – 133
Fully depreciated assets written off 189 –90 1 1 – 2
Exchange and other adjustments 12 26 (2) 36 28 9 (2) 35
At 31st December (993) (1,454) (9) 2,456 (1,022) (1,575) (5) (2,602)
Net book value 1,161 975 356 2,492 1,428 966 360 2,754
Operating leased assets represent assets such as plant and equipment leased to customers under operating leases.
Certain of the Group’s equipment is held on finance leases. See Note 41.
Impairment of £14m follows a review of the future use of an existing office building in our UK property portfolio. In 2007 the freehold of the building
will be disposed of by either a short- or long-term leaseback, depending on the conclusions of the review. Consequently the value has been written
down to fair value, less cost of sale.
The carrying value of property on transition to IFRS was the deemed cost. The following table shows the historical cost of property:
2006 2005
£m £m
Historical cost of property
At cost 1,982 2,257
Accumulated depreciation and impairment (958) (1,050)
Net book value 1,024 1,207