Annual Report & Accounts 2007-2008 - Historic Scotland

(ii) Revaluations
The Valuation Office prepared valuations at 31 March 2008 where certain buildings were
valued either above or below the estimates used in the 2007/08 annual accounts. The
useful remaining life has also been re-assessed.
The total value of revalued assets is £1,871,100. The combined effect of the revaluations
is an increase in the net book value of these properties of £483,585. This figure is also
reflected in the revaluation reserve. Due to impairment there will be an amount of
£1,173,278 written back to the income and expenditure account.
(iii) Depreciation and impairment charge
2007/08
£000
2006/07
£000
Depreciation charge for the year 1,299 1,321
Amortisation charge for the year (note 12) 53 98
Impairment charge 1,173 42
Released from donated asset reserve (note 23) (2) (2)
Total charge for the year 2,523 1,459
12. Intangible fixed assets
Computer software
licences
£000
Cost
Opening balance 1 April 2007 513
Additions during year 87
Disposals during year (5)
Closing balance 31 March 2008 595
Accumulated depreciation
Opening balance 1 April 2007 (443)
Charge for the year (53)
Eliminated on disposal 5
Closing balance 31 March 2008 (491)
Net book value at 31 March 2008 104
Net book value at 31 March 2007 70
REPORT & ACCOUNTS 67