Carphone Warehouse 2016 Annual Report Download - page 121
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119
11 Property, plant & equipment
Land and
buildings
£million
Fixtures,
fittings and
other
equipment
£million
Total
£million
Balance at 3 May 2015 93 234 327
A
cquisition of subsidiary (note 24) — 1 1
A
dditions 33 124 157
Depreciation (6) (92) (98)
Disposals (20) (3) (23)
Impairment (note 4) — (4) (4)
Foreign exchange — 6 6
Balance as at 30 April 2016
100 266 366
Cost 117 451 568
A
ccumulated depreciation (17) (185) (202)
Balance as at 30 April 2016 100 266 366
Included in net book value as at 30 April 2016
Land not depreciated 8 — 8
A
ssets in the course of construction — 40 40
A
ssets held under finance leases 57 — 57
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
Freehold land and buildings include the Group’s investment property. The fair value of investment property was determined by
an external, independent property valuation expert as £14 million (2015: £14 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 is set out in note 30.
00_DC 2016 Annual Report.pdf 119 11/07/2016 18:34