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Notes to the Consolidated Financial Statements
For the year to 28 February 2011, continued
63
Financial Statements
12. Property, Plant and Equipment
Year to 28 February 2011
Land and
Plant and
Fixtures,
Commercial
Total
Buildings
Machinery Fittings and
Vehicles
Equipment
£’000
£’000
£’000
£’000
£’000
Cost or Valuation
At 1 March 2010
141,853
21,067
6,365
74,382
243,667
Additions
30,732
2,181
1,781
19,447
54,141
Disposals
(279)
(174)
(61)
(13,879)
(14,393)
At 28 February 2011
172,306
23,074
8,085
79,950
283,415
Aggregate depreciation and impairment losses
At 1 March 2010
2,148
5,232
2,234
23,148
32,762
Charge for the period
1,363
2,856
1,269
12,576
18,064
Disposals
(3)
(113)
-
(4,980)
(5,096)
At 28 February 2011
3,508
7,975
3,503
30,744
45,730
Net book value at 28 February 2011
168,798
15,099
4,582
49,206
237,685
Year to 28 February 2010
Land and
Plant and
Fixtures
Commercial
Total
Buildings
Machinery Fittings and
Vehicles
Equipment
£’000
£’000
£’000
£’000
£’000
Cost or Valuation
At 1 March 2009
132,707
18,800
4,245
86,689
242,441
Acquisition of businesses
13,900
246
-
7
14,153
Additions
44,314
3,323
2,195
13,418
63,250
Disposals
(49,068)
(1,302)
(75)
(25,732)
(76,177)
At 28 February 2010
141,853
21,067
6,365
74,382
243,667
Aggregate depreciation and impairment losses
At 1 March 2009
1,272
3,498
1,323
24,788
30,881
Charge for the period
1,077
2,254
912
11,425
15,668
Disposals
(201)
(520)
(1)
(13,065)
(13,787)
At 28 February 2010
2,148
5,232
2,234
23,148
32,762
Net book value at 28 February 2010
139,705
15,835
4,131
51,234
210,905
Certain land and buildings were acquired through the business acquisitions and were subject to independent valuations as part of the fair value exercise, or were
acquired during the period at market value.
Bank borrowings are secured on the Group's freehold land and buildings.
Included in land and buildings at 28 February 2011 are assets under construction of £38.9m (2010: £10.7m).
The net carrying amount of property, plant and equipment includes the following amounts in respect of assets held under finance leases and are secured on the
related assets:
Land and
Plant and
Fixtures
Commercial
Total
Buildings
Machinery Fittings and
Vehicles
Equipment
£’000
£’000
£’000
£’000
£’000
Cost
-
7,175
-
57,287
64,462
Aggregate Depreciation
-
(2,292)
-
(15,571)
(17,863)
Net book value at 28 February 2011
-
4,883
-
41,716
46,599
Net book value at 28 February 2010
-
5,987
1,559
48,080
55,626