Tesco 2000 Annual Report Download - page 30

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TESCO PLC
28
NOTE 12 Tangible fixed assets
Plant equipment
fixtures and
Land and fittings and
buildings vehicles Total
£m £m £m
Cost
At 27 February 1999 6,918 2,533 9,451
Currency translation (32) (22) (54)
Additions at cost (a) 1,105 383 1,488
Purchase of subsidiary undertaking 80 7 87
8,071 2,901 10,972
Disposals (66) (93) (159)
At 26 February 2000 8,005 2,808 10,813
Depreciation
At 27 February 1999 886 1,460 2,346
Currency translation (3) (10) (13)
Charge for period 167 261 428
1,050 1,711 2,761
Disposals (14) (74) (88)
At 26 February 2000 1,036 1,637 2,673
Net book value (b) (c)
At 26 February 2000 6,969 1,171 8,140
At 27 February 1999 6,032 1,073 7,105
Capital work in progress included above (d)
At 26 February 2000 189 49 238
At 27 February 1999 124 21 145
a Includes £40m in respect of interest capitalised principally relating to land and building
assets. The capitalisation rate used to determine the amount of finance costs capitalised
during the period was 8.5%. In 1999 the amount of interest capitalised £24m is stated
net of tax relief of £9m.
b Net book value includes capitalised interest at 26 February 2000 of £319m (1999 – £288m).
The 1999 net book value includes capitalised interest net of tax relief.
Plant, equipment, fixtures and fittings and vehicles subject to finance leases
included in net book value are:
Net book
Cost Depreciation value
£m £m £m
At 27 February 1999 179 157 22
Movement in the period 97 70 27
At 26 February 2000 276 227 49
c The net book value of land and buildings comprises:
2000 1999
£m £m
Freehold 6,022 5,130
Long leasehold – 50 years or more 553 557
Short leasehold – less than 50 years 394 345
At 26 February 2000 6,969 6,032
d Capital work in progress does not include land.
notes to the financial statementscontinued