Tesco 1998 Annual Report Download - page 28

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2 6
Note 11 Tangible fixed assets
Cost
At 22 February 1997
Currency translation
Additions at cost (a)
Purchase of subsidiary undertakings
Disposals (b)
At 28 February 1998
Depreciation
At 22 February 1997
Currency translation
Charge for period
Purchase of subsidiary undertakings
Disposals (b)
At 28 February 1998
Net book value (c) (d)
At 28 February 1998
At 22 February 1997
Capital work in progress included above (e)
At 28 February 1998
At 22 February 1997
a) Includes £20m (1997 – £16m) in respect of interest capitalised net of tax relief of £8m (1997 – £7m) principally relating to land
and building assets.
b) Fully depreciated assets not in use in the business totalling £181m have been removed from fixed assets in the year.
c) Net book value includes capitalised interest, net of tax relief, at 28 February 1998 of £278m (1997 – £268m). Plant, equipment,
fixtures and fittings and vehicles subject to finance leases included in net book value is:
Plant equipment
fixtures and
fittings and
vehicles
£m
1,948
(38)
312
291
2,513
(345)
2,168
1,210
(10)
209
168
1,577
(292)
1,285
883
738
17
31
Land and
buildings
£m
5,697
(46)
529
239
6,419
(252)
6,167
609
(18)
149
29
769
(30)
739
5,428
5,088
118
108
Total
£m
7,645
(84)
841
530
8,932
(597)
8,335
1,819
(28)
358
197
2,346
(322)
2,024
6,311
5,826
135
139
At 22 February 1997
Movement in the period
At 28 February 1998
d) The net book value of land and buildings comprises:
Depreciation
£m
155
(6)
149
Cost
£m
202
(23)
179
Net book
value
£m
47
(17)
30
Freehold
Long leasehold – 50 years or more
Short leasehold – less than 50 years
At 28 February 1998
e) Capital work in progress does not include land.
1998
£m
4,628
508
292
5,428
1997
£m
4,245
544
299
5,088
Notes to the financial statements
c o n t i n u e d
f)Net book value is stated after charging £28m in respect of integration costs incurred on acquisition of the Irish businesses.