Carphone Warehouse 2015 Annual Report Download - page 115
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Dixons Carphone plc Annual Report and Accounts 2014/15
Financial statements
113
11 Property, plant & equipment
Land and
buildings
£million
Fixtures,
fittings and
other
equipment
£million
Total
£million
Balance at 30 March 2014 40 50 90
Dixons Retail Merger 70 196 266
A
dditions 4 81 85
Depreciation (8) (75) (83)
Disposals (9) (5) (14)
Transferred to assets held for sale (2) (2) (4)
Impairment (1) (2) (3)
Foreign exchange (1) (9) (10)
Balance as at 2 May 2015
93 234 327
Cost 104 319 423
A
ccumulated depreciation (11) (85) (96)
Balance as at 2 May 2015 93 234 327
Included in net book value as at 2 May 2015
Land not depreciated 8 — 8
A
ssets in the course of construction — 16 16
A
ssets held under finance leases 65 2 67
Land and
buildings
£million
Fixtures,
fittings and
other
equipment
£million
Total
£million
Balance at 1 April 2013 27 — 27
CPW Europe Acquisition 27 45 72
A
dditions 2 18 20
Depreciation (6) (12) (18)
Disposals (10) — (10)
Foreign exchange — (1) (1)
Balance at 29 March 2014 40 50 90
Cost 47 62 109
A
ccumulated depreciation
(7) (12) (19)
Balance as at 29 March 2014 40 50 90
Included in net book value as at 29 March 2014
Land not depreciated 5 — 5
A
ssets in the course of construction 1 7 8
A
ssets held under finance leases — 3 3
Freehold land and buildings predominantly comprise the Group’s investment property. The fair value of investment property was
determined by an external, independent property valuation expert as £14 million (2014: £22 million). The valuation expert has
appropriate recognised professional qualifications as well as recent experience in the location and category of the properties
being valued. The valuation of properties was performed by reference to appropriate yield rates and market evidence of recent
transactions. Future minimum lease income in respect of the Group’s investment properties are set out in note 29.