Unilever 2003 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2003 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 169

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169

Unilever Annual Report & Accounts and Form 20-F 2003 91
Notes to the consolidated accounts
Unilever Group
10 Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on a straight-line basis at percentages of cost based on the
expected average useful lives of the assets. Estimated useful lives by major class of assets are as follows:
Freehold buildings (no depreciation on freehold land) 40 years
Leasehold land Life of lease
Leasehold buildings *40 years
Plant and equipment 2–20 years
Motor vehicles 3–6 years
*or life of lease if less than 40 years
Tangible fixed assets are subject to review for impairment in accordance with United Kingdom FRS 11 and United States SFAS 144.
Any impairment in the value of such fixed assets is charged to the profit and loss account as it arises.
€ million € million
2003 2002
At cost less depreciation:
Land and buildings(a) 2 278 2 622
Plant and machinery 4 377 4 814
Total 6 655 7 436
(a) includes: freehold land 238 282
leasehold land (mainly long-term leases) 58 63
Commitments for capital expenditure at 31 December 167 244
€ million € million € million
Land and Plant and
Movements during 2003 buildings machinery Total
Gross
1 January 3 850 11 448 15 298
Currency retranslation (321) (821) (1 142)
Capital expenditure 143 895 1 038
Disposals (196) (849) (1 045)
Acquisitions of group companies 25 74 99
Disposals of group companies (120) (324) (444)
Other adjustments 5 (5) –
31 December 3 386 10 418 13 804
Depreciation
1 January (1 228) (6 634) (7 862)
Currency retranslation 103 478 581
Disposals 84 748 832
Acquisitions of group companies (6) (38) (44)
Disposals of group companies 41 202 243
Charged to profit and loss account(b) (93) (806) (899)
Other adjustments (9) 9 –
31 December (1 108) (6 041) (7 149)
Net book value 31 December 2 278 4 377 6 655
Includes payments on account and assets in course of construction 77 524 601
(b) Including a charge of €50 million in respect of fixed assets written down to net realisable value in connection with restructuring projects, all
of which was exceptional.