2011/2012 audited annual accounts - Falkirk Council
2011/2012 audited annual accounts - Falkirk Council
2011/2012 audited annual accounts - Falkirk Council
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FALKIRK COUNCIL<br />
NOTES TO THE CORE FINANCIAL STATEMENTS<br />
There is one item of capitalised software that is individually material to the financial statements:<br />
31 March <strong>2011</strong><br />
£000<br />
Carrying Amount<br />
72<br />
31 March <strong>2012</strong><br />
£000<br />
Remaining<br />
Amortisation Period<br />
Server Consolidation - 38 5 years<br />
There are no changes in accounting estimates for Intangible Assets. All Intangible Assets have a finite useful life.<br />
12. Impairment Losses<br />
The <strong>Council</strong>’s Social Work Land and Building assets were revalued as at 1 April <strong>2011</strong>, together with some other assets<br />
mainly within Education and Community Services. In addition, impairment for non-enhancing capital expenditure was<br />
also accounted for in <strong>2011</strong>/12. The overall impairment was £31.606m, of which £0.079m was written out to the<br />
Revaluation Reserve and £31.685m to the Provision of Services in the Comprehensive Income and Expenditure Statement.<br />
13. Capitalisation of Borrowing Costs<br />
The <strong>Council</strong> applied to the Scottish Government for consent to borrow for Equal Pay Costs. The consent was granted and<br />
the costs that were capitalised are as follows:-<br />
Consent Granted Costs Capitalised<br />
£’000 £’000<br />
Equal Pay Costs 1,000 1,000
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