Tesco 2004 Annual Report Download - page 39

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TESCO PLC 37
NOTE 13 Tangible Þxed assets continued
(a) Includes £62m in respect of interest capitalised principally relating to land and building
assets.The capitalisation rate used to determine the amount of Þnance costs capitalised
during the period was 6.0%.
(b) Net book value includes capitalised interest at 28 February 2004 of £518m (2003  £463m).
Plant, equipment, Þxtures and Þttings and motor vehicles subject to Þnance leases included
in net book value are:
Net book
Cost Depreciation value
£m £m £m
At 22 February 2003 740 469 271
Movement in the period 102 103 (1)
At 28 February 2004 842 572 270
(c) The net book value of land and buildings comprises:
2004 2003
£m £m
Freehold 11,023 9,992
Long leasehold  50 years or more 501 493
Short leasehold  less than 50 years 485 470
At 28 February 2004 12,009 10,955
(d) Capital work in progress does not include land.
NOTE 14 Fixed asset investments
Group Company
Shares in Loans to
Joint Own Other Group Group Joint
ventures(b) Associates(c) shares(d) investments undertakings(a) undertakings ventures(b)
£m £m £m £m £m £m £m
At 22 February 2003 266 18 53 6 4,505 3,315 158
Additions 11 8 46  1,019 238 6
Share of proÞt/(loss) of joint
ventures and associates 63 (4) 
Goodwill amortisation (1) (1) 
Income received from joint
ventures and associates (24) 
Disposals (6) (71)    (21)
At 28 February 2004 309 21 28 6 5,524 3,553 143