2011/2012 audited annual accounts - Falkirk Council

FALKIRK COUNCIL
NOTES TO THE CORE FINANCIAL STATEMENTS
(ii) Operating Leases
The Council leases out land and buildings to provide suitable affordable accommodation for local businesses in the
interests of economic development.
The future minimum lease payments receivable under non-cancellable leases in future years are:
31 March 2011 31 March 2012
£’000 £’000
Not later than one year 4,509 4,652
Later than one year and not later than five years 11,311 12,233
Later than five years 30,775 29,931
TOTAL 46,595 46,816
The minimum lease payments receivable do not include rents that are contingent on events taking place after the lease
was entered into, such as adjustments following rent reviews. In 2011/12 £0.038m contingent rents were receivable
by the Council (2010/11 £0.054m).
11. Intangible Assets
The Council accounts for its software as intangible assets, to the extent that the software is not an integral part of a
particular IT system and accounted for as part of the hardware item of Property, Plant and Equipment. The intangible
assets include both purchased licenses and software.
All software is given a finite useful life, based on assessments of the period that the software is expected to be of use to the
Council. The useful lives assigned to the major software suites used by the Council are:
Internally
Generated
Assets
71
Other
Assets
3 years - Benefit & Rates Software
3 years - Remote Access Software
3 years - Application Server Software
5 years - Server Consolidation Software
The carrying amount of intangible assets is amortised on a straight-line basis. The amortisation of £0.079m was charged
to revenue in 2011/12.
The movement on Intangible Asset balances during the year is as follows:
2010/11 2011/12
Other Assets
£’000
Other Assets
£’000
Balance at start of year:
• Gross carrying amounts
514
514
• Accumulated amortization (323) (435)
Net carrying amount at start of year 191 79
Additions:
• Internal development - -
• Purchases - 38
Amortisation for the period (112) (79)
Net carrying amount at end of year 79 38
Comprising:
• Gross carrying amounts 514 552
• Accumulated amortization (435) (514)
79 38